PXH vs. STXE

Last updated Aug 4, 2026

PXH (Invesco FTSE RAFI Emerging Markets ETF) and STXE (Strive Emerging Markets Ex-China ETF) are both Emerging Markets Equities funds - PXH tracks the FTSE RAFI Emerging Markets Index while STXE tracks the Bloomberg US 1000 Dividend Growth Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, PXH returned 20.27%/yr vs 24.25%/yr for STXE. Their 0.75 correlation means they have sometimes moved together and sometimes differently. PXH charges 0.50%/yr vs 0.32%/yr for STXE.

Performance

PXH vs. STXE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco FTSE RAFI Emerging Markets ETF (PXH) and Strive Emerging Markets Ex-China ETF (STXE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PXH achieves a 14.44% return, which is significantly lower than STXE's 31.89% return.

PXH

• 1D: 0.21%
• 1M: 5.02%
• 6M: 7.06%
• YTD: 14.44%
• 1Y: 29.71%
• 3Y*: 20.27%
• 5Y*: 10.24%
• 10Y*: 9.29%
• ALL TIME*: 3.68%

STXE

• 1D: 0.31%
• 1M: -4.78%
• 6M: 17.76%
• YTD: 31.89%
• 1Y: 56.83%
• 3Y*: 24.25%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 22.41%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PXH Invesco FTSE RAFI Emerging Markets ETF	$5.43M	$7.06M	$7.27M
STXE Strive Emerging Markets Ex-China ETF	$408.52K	$564.14K	$567.10K

PXH vs. STXE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PXH Invesco FTSE RAFI Emerging Markets ETF	14.44%	31.44%	12.09%	4.99%
STXE Strive Emerging Markets Ex-China ETF	31.89%	34.23%	2.09%	12.38%

Correlation

The correlation between PXH and STXE is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.79
Correlation (3Y) Balances recent behavior with more history.	0.75
Correlation (All Time) Calculated using the full available price history since Jan 31, 2023	0.75

The correlation between PXH and STXE has been stable across timeframes, ranging from 0.75 to 0.79 - a consistent structural relationship.

PXH vs. STXE - Sectors Allocation Comparison

Sectors	PXH	STXE
Financial Services	26.1%	15.7%
Technology	24.3%	40.3%
Basic Materials	10.9%	6.2%
Energy	10.8%	3.5%
Consumer Cyclical	9.7%	1.4%
Communication Services	6.2%	3.2%
Industrials	4.6%	5.0%
Consumer Defensive	2.9%	1.7%
Utilities	2.2%	1.1%
Real Estate	1.5%	0.4%
Healthcare	0.9%	0.6%

Return for Risk

PXH vs. STXE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PXH

PXH Risk / Return Rank: 75
PXH Sharpe Ratio Rank: 77
PXH Sortino Ratio Rank: 73
PXH Omega Ratio Rank: 76
PXH Calmar Ratio Rank: 79
PXH Martin Ratio Rank: 71

STXE

STXE Risk / Return Rank: 77
STXE Sharpe Ratio Rank: 80
STXE Sortino Ratio Rank: 72
STXE Omega Ratio Rank: 79
STXE Calmar Ratio Rank: 76
STXE Martin Ratio Rank: 78

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PXH vs. STXE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco FTSE RAFI Emerging Markets ETF (PXH) and Strive Emerging Markets Ex-China ETF (STXE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	PXH	STXE	Difference
Sharpe ratio: Return per unit of total volatility	1.82	1.92	-0.10
Sortino ratio: Return per unit of downside risk	2.44	2.45	-0.01
Omega ratio: Gain probability vs. loss probability	1.33	1.35	-0.02
Calmar ratio: Return relative to maximum drawdown	2.91	2.80	+0.11
Martin ratio: Return relative to average drawdown	9.08	10.42	-1.34

PXH vs. STXE - Sharpe Ratio Comparison

The current PXH Sharpe Ratio is 1.82, which is comparable to the STXE Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of PXH and STXE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PXH vs. STXE - Drawdown Comparison

The maximum PXH drawdown since its inception was -63.63%, which is greater than STXE's maximum drawdown of -20.38%. Use the drawdown chart below to compare losses from any high point for PXH and STXE.

Drawdown Indicators

	PXH	STXE	Difference
Max Drawdown Largest peak-to-trough decline	-63.63%	-20.38%	-43.25%
Max Drawdown (1Y) Largest decline over 1 year	-10.24%	-20.38%	+10.14%
Max Drawdown (3Y) Largest decline over 3 years	-17.72%	-20.38%	+2.66%
Max Drawdown (5Y) Largest decline over 5 years	-29.59%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-40.42%	—	—
Current Drawdown Current decline from peak	-1.80%	-14.32%	+12.52%
Average Drawdown Average peak-to-trough decline	-16.75%	-3.96%	-12.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.28%	5.47%	-2.19%

Volatility

PXH vs. STXE - Volatility Comparison

The current volatility for Invesco FTSE RAFI Emerging Markets ETF (PXH) is 4.46%, while Strive Emerging Markets Ex-China ETF (STXE) has a volatility of 12.86%. This indicates that PXH experiences smaller price fluctuations and is considered to be less risky than STXE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PXH	STXE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.46%	12.86%	-8.40%
Volatility (6M) Calculated over the trailing 6-month period	13.39%	28.03%	-14.64%
Volatility (1Y) Calculated over the trailing 1-year period	16.44%	29.88%	-13.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.94%	20.16%	-2.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.86%	20.16%	-0.30%

PXH vs. STXE - Expense Ratio Comparison

PXH has a 0.50% expense ratio, which is higher than STXE's 0.32% expense ratio.

Dividends

PXH vs. STXE - Dividend Comparison

PXH's dividend yield for the trailing twelve months is around 4.20%, more than STXE's 1.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PXH Invesco FTSE RAFI Emerging Markets ETF	4.20%	4.02%	4.43%	4.84%	5.33%	4.69%	2.79%	3.28%	3.30%	2.74%	1.97%	3.44%
STXE Strive Emerging Markets Ex-China ETF	1.90%	2.66%	3.22%	1.08%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PXH and STXE in my portfolio?

PXH and STXE have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PXH or STXE?

STXE has higher volatility (12.86%) compared to PXH (4.46%). In terms of maximum drawdown, PXH dropped -63.63% vs STXE's -20.38%.

Which ETF is better, PXH or STXE?

On 3-year performance, STXE leads with 24.25% vs 20.27% for PXH. On fees, STXE is cheaper at 0.32% per year. On volatility, PXH has been the lower-risk option at 4.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PXH or STXE?

Over the 3-year period, STXE has performed better with a 24.25% return vs 20.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PXH or STXE?

STXE is cheaper with a 0.32% expense ratio, compared with 0.50% for PXH.

Which ETF pays a higher dividend yield, PXH or STXE?

PXH has the higher dividend yield at 4.20%, compared with 1.90% for STXE.

What is the main difference between PXH and STXE?

PXH tracks FTSE RAFI Emerging Markets Index, while STXE tracks Bloomberg US 1000 Dividend Growth Index - Benchmark TR Gross. They also come from different issuers: Invesco and Strive. Their fees differ too: 0.50% for PXH and 0.32% for STXE.

Which has better risk-adjusted returns?

STXE currently has the higher Sharpe Ratio (1.92 vs 1.82), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.