PXI vs. ENFR
PXI (Invesco DWA Energy Momentum ETF) and ENFR (Alerian Energy Infrastructure ETF) are both exchange-traded funds - PXI is a Momentum fund tracking the Dorsey Wright Energy Technical Leaders Index, while ENFR is a Infrastructure Equities fund tracking the Alerian Midstream Energy Select Index. Both are passively managed. Over the past 10 years, PXI returned 7.01%/yr vs 12.14%/yr for ENFR. Their 0.77 correlation means they have sometimes moved together and sometimes differently. PXI charges 0.60%/yr vs 0.35%/yr for ENFR.
Performance
PXI vs. ENFR - Performance Comparison
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Returns By Period
In the year-to-date period, PXI achieves a 32.32% return, which is significantly higher than ENFR's 28.27% return. Over the past 10 years, PXI has underperformed ENFR with an annualized return of 7.01%, while ENFR has yielded a comparatively higher 12.14% annualized return.
PXI
- 1D
- 1.27%
- 1M
- 10.04%
- 6M
- 18.58%
- YTD
- 32.32%
- 1Y
- 43.31%
- 3Y*
- 12.52%
- 5Y*
- 20.85%
- 10Y*
- 7.01%
- ALL TIME*
- 5.73%
ENFR
- 1D
- 0.25%
- 1M
- 3.92%
- 6M
- 19.23%
- YTD
- 28.27%
- 1Y
- 29.02%
- 3Y*
- 26.80%
- 5Y*
- 21.89%
- 10Y*
- 12.14%
- ALL TIME*
- 8.59%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.27M | $3.93M | $3.16M | |
| $1.61M | $2.88M | $1.35M |
PXI vs. ENFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PXI Invesco DWA Energy Momentum ETF | 32.32% | 3.86% | 0.76% | 5.48% | 45.85% | 75.05% | -35.91% | 1.67% | -27.56% | -8.42% |
ENFR Alerian Energy Infrastructure ETF | 28.27% | 5.88% | 42.17% | 15.63% | 17.48% | 39.97% | -24.14% | 21.60% | -18.67% | -0.19% |
Correlation
The correlation between PXI and ENFR is 0.66, 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. | 0.66 |
Correlation (3Y) Balances recent behavior with more history. | 0.71 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.78 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.78 |
Correlation (All Time) Calculated using the full available price history since Nov 1, 2013 | 0.77 |
The correlation between PXI and ENFR shifts across timeframes, from 0.66 (1 year) to 0.78 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
PXI vs. ENFR — Risk / Return Rank
PXI
ENFR
PXI vs. ENFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Energy Momentum ETF (PXI) and Alerian Energy Infrastructure ETF (ENFR). 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.
| PXI | ENFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.32 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.22 | 3.33 | -0.11 |
| Martin ratioReturn relative to average drawdown | 8.88 | 8.16 | +0.71 |
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Drawdowns
PXI vs. ENFR - Drawdown Comparison
The maximum PXI drawdown since its inception was -85.08%, which is greater than ENFR's maximum drawdown of -68.28%. Use the drawdown chart below to compare losses from any high point for PXI and ENFR.
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Drawdown Indicators
| PXI | ENFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.08% | -68.28% | -16.80% |
Max Drawdown (1Y)Largest decline over 1 year | -12.40% | -8.64% | -3.76% |
Max Drawdown (3Y)Largest decline over 3 years | -30.74% | -15.58% | -15.16% |
Max Drawdown (5Y)Largest decline over 5 years | -33.47% | -20.29% | -13.18% |
Max Drawdown (10Y)Largest decline over 10 years | -79.55% | -62.64% | -16.91% |
Current DrawdownCurrent decline from peak | -3.60% | -2.57% | -1.03% |
Average DrawdownAverage peak-to-trough decline | -29.25% | -15.83% | -13.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.54% | 3.52% | +1.02% |
Volatility
PXI vs. ENFR - Volatility Comparison
Invesco DWA Energy Momentum ETF (PXI) has a higher volatility of 7.05% compared to Alerian Energy Infrastructure ETF (ENFR) at 5.44%. This indicates that PXI's price experiences larger fluctuations and is considered to be riskier than ENFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PXI | ENFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.05% | 5.44% | +1.61% |
Volatility (6M)Calculated over the trailing 6-month period | 17.89% | 12.30% | +5.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.49% | 15.24% | +7.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.81% | 19.19% | +13.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.94% | 24.65% | +12.29% |
PXI vs. ENFR - Expense Ratio Comparison
PXI has a 0.60% expense ratio, which is higher than ENFR's 0.35% expense ratio.
Dividends
PXI vs. ENFR - Dividend Comparison
PXI's dividend yield for the trailing twelve months is around 1.24%, less than ENFR's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ENFR Alerian Energy Infrastructure ETF | 3.91% | 4.77% | 4.41% | 5.48% | 5.23% | 7.86% | 7.57% | 5.81% | 3.98% | 2.98% | 3.31% | 3.34% |
PXI Invesco DWA Energy Momentum ETF | 1.24% | 1.81% | 1.52% | 1.82% | 3.14% | 0.57% | 1.72% | 2.80% | 0.93% | 0.80% | 0.73% | 2.07% |
Frequently Asked Questions
PXI and ENFR have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PXI has higher volatility (7.05%) compared to ENFR (5.44%). In terms of maximum drawdown, PXI dropped -85.08% vs ENFR's -68.28%.
On 10-year performance, ENFR leads with 12.14% vs 7.01% for PXI. On fees, ENFR is cheaper at 0.35% per year. On volatility, ENFR has been the lower-risk option at 5.44%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ENFR has performed better with a 12.14% return vs 7.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ENFR is cheaper with a 0.35% expense ratio, compared with 0.60% for PXI.
ENFR has the higher dividend yield at 3.91%, compared with 1.24% for PXI.
PXI is categorized as Momentum, while ENFR is Infrastructure Equities. PXI tracks Dorsey Wright Energy Technical Leaders Index, while ENFR tracks Alerian Midstream Energy Select Index. They also come from different issuers: Invesco and SS&C. Their fees differ too: 0.60% for PXI and 0.35% for ENFR.
ENFR currently has the higher Sharpe Ratio (1.89 vs 1.78), 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.
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