PXI vs. CLSE
Compare and contrast key facts about Invesco DWA Energy Momentum ETF (PXI) and Convergence Long/Short Equity ETF (CLSE).
PXI and CLSE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PXI is a passively managed fund by Invesco that tracks the performance of the Dynamic Energy Sector Intellidex Index. It was launched on Oct 12, 2006. CLSE is an actively managed fund by Convergence Investment Partners. It was launched on Feb 22, 2022.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PXI or CLSE.
Key characteristics
| PXI | CLSE | |
|---|---|---|
| YTD Return | 10.96% | 40.19% |
| 1Y Return | 18.16% | 42.06% |
| Sharpe Ratio | 0.86 | 3.53 |
| Sortino Ratio | 1.28 | 4.91 |
| Omega Ratio | 1.16 | 1.62 |
| Calmar Ratio | 0.74 | 5.97 |
| Martin Ratio | 2.60 | 24.09 |
| Ulcer Index | 7.71% | 1.84% |
| Daily Std Dev | 23.34% | 12.49% |
| Max Drawdown | -85.08% | -14.28% |
| Current Drawdown | -12.23% | 0.00% |
Correlation
The correlation between PXI and CLSE is 0.38, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
PXI vs. CLSE - Performance Comparison
In the year-to-date period, PXI achieves a 10.96% return, which is significantly lower than CLSE's 40.19% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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PXI vs. CLSE - Expense Ratio Comparison
PXI has a 0.60% expense ratio, which is lower than CLSE's 1.56% expense ratio.
Risk-Adjusted Performance
PXI vs. CLSE - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Energy Momentum ETF (PXI) and Convergence Long/Short Equity ETF (CLSE). 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.
Dividends
PXI vs. CLSE - Dividend Comparison
PXI's dividend yield for the trailing twelve months is around 1.31%, more than CLSE's 0.86% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PXI Invesco DWA Energy Momentum ETF | 1.31% | 1.82% | 3.14% | 0.57% | 1.73% | 2.80% | 0.93% | 0.80% | 0.73% | 2.06% | 1.15% | 0.75% |
CLSE Convergence Long/Short Equity ETF | 0.86% | 1.21% | 0.85% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
PXI vs. CLSE - Drawdown Comparison
The maximum PXI drawdown since its inception was -85.08%, which is greater than CLSE's maximum drawdown of -14.28%. Use the drawdown chart below to compare losses from any high point for PXI and CLSE. For additional features, visit the drawdowns tool.
Volatility
PXI vs. CLSE - Volatility Comparison
Invesco DWA Energy Momentum ETF (PXI) has a higher volatility of 8.64% compared to Convergence Long/Short Equity ETF (CLSE) at 3.56%. This indicates that PXI's price experiences larger fluctuations and is considered to be riskier than CLSE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.