PXI vs. FMTM

Last updated Jun 5, 2026

PXI (Invesco DWA Energy Momentum ETF) and FMTM (MarketDesk Focused U.S. Momentum ETF) are both Momentum funds. PXI is passively managed, while FMTM is actively managed. Over the past year, PXI returned 46.96% vs 63.73% for FMTM. At a 0.21 correlation, their price movements are largely independent. PXI charges 0.60%/yr vs 0.45%/yr for FMTM.

Performance

PXI vs. FMTM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco DWA Energy Momentum ETF (PXI) and MarketDesk Focused U.S. Momentum ETF (FMTM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with PXI having a 32.39% return and FMTM slightly lower at 31.40%.

PXI

• 1D: 0.75%
• 1M: -3.55%
• YTD: 32.39%
• 6M: 24.73%
• 1Y: 46.96%
• 3Y*: 18.93%
• 5Y*: 16.60%
• 10Y*: 5.94%

FMTM

• 1D: -0.26%
• 1M: 4.57%
• YTD: 31.40%
• 6M: 33.68%
• 1Y: 63.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PXI vs. FMTM - Yearly Performance Comparison

	2026 (YTD)	2025
PXI Invesco DWA Energy Momentum ETF	32.39%	4.36%
FMTM MarketDesk Focused U.S. Momentum ETF	31.40%	27.90%

Correlation

The correlation between PXI and FMTM is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (All Time) Calculated using the full available price history since Mar 21, 2025	0.21

Return for Risk

PXI vs. FMTM — Risk / Return Rank

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

PXI

PXI Risk / Return Rank: 69
PXI Sharpe Ratio Rank: 69
PXI Sortino Ratio Rank: 60
PXI Omega Ratio Rank: 59
PXI Calmar Ratio Rank: 83
PXI Martin Ratio Rank: 72

FMTM

FMTM Risk / Return Rank: 84
FMTM Sharpe Ratio Rank: 86
FMTM Sortino Ratio Rank: 78
FMTM Omega Ratio Rank: 79
FMTM Calmar Ratio Rank: 89
FMTM Martin Ratio Rank: 90

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.

PXI vs. FMTM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Energy Momentum ETF (PXI) and MarketDesk Focused U.S. Momentum ETF (FMTM). 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.

	PXI	FMTM	Difference
Sharpe ratio: Return per unit of total volatility	2.22	2.81	-0.59
Sortino ratio: Return per unit of downside risk	2.80	3.43	-0.63
Omega ratio: Gain probability vs. loss probability	1.36	1.46	-0.11
Calmar ratio: Return relative to maximum drawdown	4.36	5.28	-0.93
Martin ratio: Return relative to average drawdown	13.35	20.65	-7.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PXI vs. FMTM - Sharpe Ratio Comparison

The current PXI Sharpe Ratio is 2.22, which is comparable to the FMTM Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of PXI and FMTM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PXI	FMTM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.22	2.81	-0.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.16	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	2.36	-2.20

Drawdowns

PXI vs. FMTM - Drawdown Comparison

The maximum PXI drawdown since its inception was -85.08%, which is greater than FMTM's maximum drawdown of -12.12%. Use the drawdown chart below to compare losses from any high point for PXI and FMTM.

Drawdown Indicators

	PXI	FMTM	Difference
Max Drawdown Largest peak-to-trough decline	-85.08%	-12.12%	-72.96%
Max Drawdown (1Y) Largest decline over 1 year	-10.83%	-12.12%	+1.29%
Max Drawdown (3Y) Largest decline over 3 years	-30.74%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-33.47%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-79.55%	—	—
Current Drawdown Current decline from peak	-3.55%	-0.26%	-3.29%
Average Drawdown Average peak-to-trough decline	-29.43%	-1.88%	-27.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.53%	3.10%	+0.43%

Volatility

PXI vs. FMTM - Volatility Comparison

Invesco DWA Energy Momentum ETF (PXI) has a higher volatility of 7.81% compared to MarketDesk Focused U.S. Momentum ETF (FMTM) at 6.45%. This indicates that PXI's price experiences larger fluctuations and is considered to be riskier than FMTM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PXI	FMTM	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.81%	6.45%	+1.36%
Volatility (6M) Calculated over the trailing 6-month period	16.32%	17.84%	-1.52%
Volatility (1Y) Calculated over the trailing 1-year period	21.36%	22.83%	-1.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.47%	22.91%	+10.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.18%	22.91%	+14.27%

PXI vs. FMTM - Expense Ratio Comparison

PXI has a 0.60% expense ratio, which is higher than FMTM's 0.45% expense ratio.

Dividends

PXI vs. FMTM - Dividend Comparison

PXI's dividend yield for the trailing twelve months is around 1.28%, more than FMTM's 0.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FMTM MarketDesk Focused U.S. Momentum ETF	0.23%	0.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PXI Invesco DWA Energy Momentum ETF	1.28%	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

Can I hold both PXI and FMTM in my portfolio?

PXI and FMTM have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PXI or FMTM?

PXI has higher volatility (7.81%) compared to FMTM (6.45%). In terms of maximum drawdown, PXI dropped -85.08% vs FMTM's -12.12%.

Which ETF is better, PXI or FMTM?

On 1-year performance, FMTM leads with 63.73% vs 46.96% for PXI. On fees, FMTM is cheaper at 0.45% per year. On volatility, FMTM has been the lower-risk option at 6.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PXI or FMTM?

Over the 1-year period, FMTM has performed better with a 63.73% return vs 46.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PXI or FMTM?

FMTM is cheaper with a 0.45% expense ratio, compared with 0.60% for PXI.

Which ETF pays a higher dividend yield, PXI or FMTM?

PXI has the higher dividend yield at 1.28%, compared with 0.23% for FMTM.

What is the main difference between PXI and FMTM?

Their fees differ too: 0.60% for PXI and 0.45% for FMTM.

Which has better risk-adjusted returns?

FMTM currently has the higher Sharpe Ratio (2.81 vs 2.22), 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.