PXI vs. FTSD
PXI (Invesco DWA Energy Momentum ETF) and FTSD (Franklin Short Duration U.S. Government ETF) are both exchange-traded funds - PXI is a Momentum fund tracking the Dorsey Wright Energy Technical Leaders Index, while FTSD is a Mortgage Backed Securities fund actively managed by Franklin Templeton. PXI is passively managed, while FTSD is actively managed. Over the past 10 years, PXI returned 5.39%/yr vs 2.07%/yr for FTSD. At a correlation of -0.08, they often move in opposite directions. PXI charges 0.60%/yr vs 0.25%/yr for FTSD.
Performance
PXI vs. FTSD - Performance Comparison
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Returns By Period
In the year-to-date period, PXI achieves a 26.12% return, which is significantly higher than FTSD's 1.09% return. Over the past 10 years, PXI has outperformed FTSD with an annualized return of 5.39%, while FTSD has yielded a comparatively lower 2.07% annualized return.
PXI
- 1D
- 0.50%
- 1M
- -2.17%
- 6M
- 21.43%
- YTD
- 26.12%
- 1Y
- 30.13%
- 3Y*
- 12.92%
- 5Y*
- 16.15%
- 10Y*
- 5.39%
FTSD
- 1D
- -0.05%
- 1M
- 0.18%
- 6M
- 1.14%
- YTD
- 1.09%
- 1Y
- 4.09%
- 3Y*
- 5.06%
- 5Y*
- 2.59%
- 10Y*
- 2.07%
PXI vs. FTSD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PXI Invesco DWA Energy Momentum ETF | 26.12% | 3.86% | 0.76% | 5.48% | 45.85% | 75.05% | -35.91% | 1.67% | -27.56% | -8.42% |
FTSD Franklin Short Duration U.S. Government ETF | 1.09% | 5.66% | 5.20% | 4.84% | -3.13% | -0.90% | 3.13% | 2.40% | 1.64% | 0.63% |
Correlation
The correlation between PXI and FTSD is -0.29, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.09 |
Correlation (All Time) Calculated using the full available price history since Nov 5, 2013 | -0.08 |
Over the past year, the inverse relationship between PXI and FTSD has strengthened: their correlation has moved from -0.08 to -0.29, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
PXI vs. FTSD — Risk / Return Rank
PXI
FTSD
PXI vs. FTSD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Energy Momentum ETF (PXI) and Franklin Short Duration U.S. Government ETF (FTSD). 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 | FTSD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.60 | ||
| Sortino ratioReturn per unit of downside risk | -2.74 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.62 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | 2.53 | 9.05 | -6.52 |
| Martin ratioReturn relative to average drawdown | 6.90 | 34.92 | -28.02 |
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Drawdowns
PXI vs. FTSD - Drawdown Comparison
The maximum PXI drawdown since its inception was -85.08%, which is greater than FTSD's maximum drawdown of -5.32%. Use the drawdown chart below to compare losses from any high point for PXI and FTSD.
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Drawdown Indicators
| PXI | FTSD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.08% | -5.32% | -79.76% |
Max Drawdown (1Y)Largest decline over 1 year | -12.40% | -0.45% | -11.95% |
Max Drawdown (3Y)Largest decline over 3 years | -30.74% | -0.93% | -29.81% |
Max Drawdown (5Y)Largest decline over 5 years | -33.47% | -4.96% | -28.51% |
Max Drawdown (10Y)Largest decline over 10 years | -79.55% | -5.32% | -74.23% |
Current DrawdownCurrent decline from peak | -8.12% | -0.13% | -7.99% |
Average DrawdownAverage peak-to-trough decline | -29.33% | -0.60% | -28.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.54% | 0.12% | +4.42% |
Volatility
PXI vs. FTSD - Volatility Comparison
Invesco DWA Energy Momentum ETF (PXI) has a higher volatility of 7.20% compared to Franklin Short Duration U.S. Government ETF (FTSD) at 0.50%. This indicates that PXI's price experiences larger fluctuations and is considered to be riskier than FTSD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PXI | FTSD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.20% | 0.50% | +6.70% |
Volatility (6M)Calculated over the trailing 6-month period | 17.45% | 1.09% | +16.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.26% | 1.36% | +20.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.23% | 1.87% | +31.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.02% | 1.76% | +35.26% |
PXI vs. FTSD - Expense Ratio Comparison
PXI has a 0.60% expense ratio, which is higher than FTSD's 0.25% expense ratio.
Dividends
PXI vs. FTSD - Dividend Comparison
PXI's dividend yield for the trailing twelve months is around 1.30%, less than FTSD's 4.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTSD Franklin Short Duration U.S. Government ETF | 4.48% | 4.67% | 4.75% | 4.14% | 1.73% | 1.01% | 1.54% | 2.90% | 2.63% | 2.24% | 1.92% | 1.52% |
PXI Invesco DWA Energy Momentum ETF | 1.30% | 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 FTSD have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PXI has higher volatility (7.20%) compared to FTSD (0.50%). In terms of maximum drawdown, PXI dropped -85.08% vs FTSD's -5.32%.
On 10-year performance, PXI leads with 5.39% vs 2.07% for FTSD. On fees, FTSD is cheaper at 0.25% per year. On volatility, FTSD has been the lower-risk option at 0.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PXI has performed better with a 5.39% return vs 2.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FTSD is cheaper with a 0.25% expense ratio, compared with 0.60% for PXI.
FTSD has the higher dividend yield at 4.48%, compared with 1.30% for PXI.
PXI is categorized as Momentum, while FTSD is Mortgage Backed Securities. They also come from different issuers: Invesco and Franklin Templeton. Their fees differ too: 0.60% for PXI and 0.25% for FTSD.
FTSD currently has the higher Sharpe Ratio (3.02 vs 1.41), 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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