PXH vs. V

Last updated Jun 13, 2026

PXH (Invesco FTSE RAFI Emerging Markets ETF) is Emerging Markets Equities fund tracking the FTSE RAFI Emerging Markets Index, while V (Visa Inc.) is a stock. Over the past 10 years, PXH returned 10.91%/yr vs 15.98%/yr for V. At a 0.46 correlation, their price movements are largely independent.

Performance

PXH vs. V - Performance Comparison

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

Returns By Period

In the year-to-date period, PXH achieves a 12.73% return, which is significantly higher than V's -7.69% return. Over the past 10 years, PXH has underperformed V with an annualized return of 10.91%, while V has yielded a comparatively higher 15.98% annualized return.

PXH

• 1D: 0.66%
• 1M: -1.13%
• YTD: 12.73%
• 6M: 14.41%
• 1Y: 29.04%
• 3Y*: 20.06%
• 5Y*: 8.70%
• 10Y*: 10.91%

V

• 1D: 1.05%
• 1M: 0.65%
• YTD: -7.69%
• 6M: -6.93%
• 1Y: -12.51%
• 3Y*: 13.87%
• 5Y*: 7.33%
• 10Y*: 15.98%

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

PXH vs. V - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PXH Invesco FTSE RAFI Emerging Markets ETF	12.73%	31.44%	12.09%	13.93%	-15.18%	8.31%	-1.91%	16.77%	-8.68%	26.60%
V Visa Inc.	-7.69%	11.76%	22.32%	26.31%	-3.40%	-0.31%	17.12%	43.33%	16.49%	47.18%

Correlation

The correlation between PXH and V is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (10Y) Calculated over the trailing 10-year period	0.42
Correlation (All Time) Calculated using the full available price history since Mar 19, 2008	0.46

Over the past year, the correlation between PXH and V has dropped to 0.14 - well below their long-term average of 0.46, suggesting their price drivers have been diverging.

Return for Risk

PXH vs. V — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PXH

PXH Risk / Return Rank: 64
PXH Sharpe Ratio Rank: 64
PXH Sortino Ratio Rank: 61
PXH Omega Ratio Rank: 65
PXH Calmar Ratio Rank: 65
PXH Martin Ratio Rank: 64

V

V Risk / Return Rank: 15
V Sharpe Ratio Rank: 18
V Sortino Ratio Rank: 17
V Omega Ratio Rank: 18
V Calmar Ratio Rank: 15
V Martin Ratio Rank: 5

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PXH vs. V - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco FTSE RAFI Emerging Markets ETF (PXH) and Visa Inc. (V). 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	V	Difference
Sharpe ratio: Return per unit of total volatility	1.84	-0.56	+2.40
Sortino ratio: Return per unit of downside risk	2.49	-0.68	+3.18
Omega ratio: Gain probability vs. loss probability	1.34	0.92	+0.42
Calmar ratio: Return relative to maximum drawdown	2.85	-0.73	+3.58
Martin ratio: Return relative to average drawdown	10.21	-1.57	+11.77

PXH vs. V - Sharpe Ratio Comparison

The current PXH Sharpe Ratio is 1.84, which is higher than the V Sharpe Ratio of -0.56. The chart below compares the historical Sharpe Ratios of PXH and V, 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. V - Drawdown Comparison

The maximum PXH drawdown since its inception was -63.63%, which is greater than V's maximum drawdown of -51.90%. Use the drawdown chart below to compare losses from any high point for PXH and V.

Drawdown Indicators

	PXH	V	Difference
Max Drawdown Largest peak-to-trough decline	-63.63%	-51.90%	-11.73%
Max Drawdown (1Y) Largest decline over 1 year	-10.24%	-17.18%	+6.94%
Max Drawdown (3Y) Largest decline over 3 years	-17.72%	-20.38%	+2.66%
Max Drawdown (5Y) Largest decline over 5 years	-29.59%	-28.60%	-0.99%
Max Drawdown (10Y) Largest decline over 10 years	-40.42%	-36.36%	-4.06%
Current Drawdown Current decline from peak	-3.27%	-12.96%	+9.69%
Average Drawdown Average peak-to-trough decline	-16.84%	-8.26%	-8.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.85%	10.73%	-7.88%

Volatility

PXH vs. V - Volatility Comparison

Invesco FTSE RAFI Emerging Markets ETF (PXH) has a higher volatility of 6.41% compared to Visa Inc. (V) at 5.57%. This indicates that PXH's price experiences larger fluctuations and is considered to be riskier than V based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PXH	V	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.41%	5.57%	+0.84%
Volatility (6M) Calculated over the trailing 6-month period	13.09%	17.57%	-4.48%
Volatility (1Y) Calculated over the trailing 1-year period	15.90%	22.35%	-6.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.87%	22.82%	-4.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.06%	24.45%	-4.39%

Dividends

PXH vs. V - Dividend Comparison

PXH's dividend yield for the trailing twelve months is around 3.49%, more than V's 0.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PXH Invesco FTSE RAFI Emerging Markets ETF	3.49%	4.02%	4.43%	4.84%	5.33%	4.69%	2.79%	3.28%	3.30%	2.74%	1.97%	3.44%
V Visa Inc.	0.81%	0.70%	0.68%	0.72%	0.76%	0.62%	0.56%	0.56%	0.67%	0.61%	0.75%	0.64%

Frequently Asked Questions

Can I hold both PXH and V in my portfolio?

PXH and V have a correlation of 0.14, 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 V?

PXH has higher volatility (6.41%) compared to V (5.57%). In terms of maximum drawdown, PXH dropped -63.63% vs V's -51.90%.

Which has better risk-adjusted returns?

PXH currently has the higher Sharpe Ratio (1.84 vs -0.56), 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.