PXI vs. PSL

Last updated Jun 5, 2026

PXI (Invesco DWA Energy Momentum ETF) and PSL (Invesco DWA Consumer Staples Momentum ETF) are both Momentum funds from Invesco - PXI tracks the Dorsey Wright Energy Technical Leaders Index while PSL tracks the DWA Consumer Staples Technical Leaders Index. Both are passively managed. Over the past 10 years, PXI returned 5.94%/yr vs 7.82%/yr for PSL. At a 0.43 correlation, their price movements are largely independent. Both charge a 0.60% expense ratio.

Performance

PXI vs. PSL - Performance Comparison

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

Returns By Period

In the year-to-date period, PXI achieves a 32.39% return, which is significantly higher than PSL's 8.95% return. Over the past 10 years, PXI has underperformed PSL with an annualized return of 5.94%, while PSL has yielded a comparatively higher 7.82% annualized return.

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%

PSL

• 1D: -0.14%
• 1M: -2.89%
• YTD: 8.95%
• 6M: 9.19%
• 1Y: -0.52%
• 3Y*: 9.49%
• 5Y*: 3.65%
• 10Y*: 7.82%

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

PXI vs. PSL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PXI Invesco DWA Energy Momentum ETF	32.39%	3.86%	0.76%	5.48%	45.85%	75.05%	-35.91%	1.67%	-27.56%	-8.42%
PSL Invesco DWA Consumer Staples Momentum ETF	8.95%	-3.47%	15.42%	12.32%	-7.76%	6.88%	18.15%	14.16%	0.92%	21.82%

Correlation

The correlation between PXI and PSL is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (10Y) Calculated over the trailing 10-year period	0.36
Correlation (All Time) Calculated using the full available price history since Oct 13, 2006	0.43

Over the past year, the correlation between PXI and PSL has dropped to 0.08 - well below their long-term average of 0.43, suggesting their price drivers have been diverging.

PXI vs. PSL - Sectors Allocation Comparison

Sectors	PXI	PSL
Energy	95.6%	-
Basic Materials	4.4%	-
Industrials	0.9%	1.5%
Communication Services	-	-
Consumer Cyclical	-	10.9%
Consumer Defensive	-	85.9%
Financial Services	-	1.8%
Healthcare	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

PXI vs. PSL — 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

PSL

PSL Risk / Return Rank: 9
PSL Sharpe Ratio Rank: 9
PSL Sortino Ratio Rank: 8
PSL Omega Ratio Rank: 8
PSL Calmar Ratio Rank: 9
PSL Martin Ratio Rank: 9

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. PSL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Energy Momentum ETF (PXI) and Invesco DWA Consumer Staples Momentum ETF (PSL). 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	PSL	Difference
Sharpe ratio: Return per unit of total volatility	2.22	-0.04	+2.26
Sortino ratio: Return per unit of downside risk	2.80	0.03	+2.77
Omega ratio: Gain probability vs. loss probability	1.36	1.00	+0.35
Calmar ratio: Return relative to maximum drawdown	4.36	-0.04	+4.39
Martin ratio: Return relative to average drawdown	13.35	-0.08	+13.43
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. PSL - Sharpe Ratio Comparison

The current PXI Sharpe Ratio is 2.22, which is higher than the PSL Sharpe Ratio of -0.04. The chart below compares the historical Sharpe Ratios of PXI and PSL, 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	PSL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.22	-0.04	+2.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	0.24	+0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.16	0.48	-0.32
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	0.55	-0.38

Drawdowns

PXI vs. PSL - Drawdown Comparison

The maximum PXI drawdown since its inception was -85.08%, which is greater than PSL's maximum drawdown of -41.58%. Use the drawdown chart below to compare losses from any high point for PXI and PSL.

Drawdown Indicators

	PXI	PSL	Difference
Max Drawdown Largest peak-to-trough decline	-85.08%	-41.58%	-43.50%
Max Drawdown (1Y) Largest decline over 1 year	-10.83%	-13.64%	+2.81%
Max Drawdown (3Y) Largest decline over 3 years	-30.74%	-13.64%	-17.10%
Max Drawdown (5Y) Largest decline over 5 years	-33.47%	-22.35%	-11.12%
Max Drawdown (10Y) Largest decline over 10 years	-79.55%	-34.67%	-44.88%
Current Drawdown Current decline from peak	-3.55%	-6.54%	+2.99%
Average Drawdown Average peak-to-trough decline	-29.43%	-5.82%	-23.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.53%	6.10%	-2.57%

Volatility

PXI vs. PSL - Volatility Comparison

Invesco DWA Energy Momentum ETF (PXI) has a higher volatility of 7.81% compared to Invesco DWA Consumer Staples Momentum ETF (PSL) at 3.08%. This indicates that PXI's price experiences larger fluctuations and is considered to be riskier than PSL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PXI	PSL	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.81%	3.08%	+4.73%
Volatility (6M) Calculated over the trailing 6-month period	16.32%	8.50%	+7.82%
Volatility (1Y) Calculated over the trailing 1-year period	21.36%	12.76%	+8.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.47%	15.15%	+18.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.18%	16.49%	+20.69%

PXI vs. PSL - Expense Ratio Comparison

Both PXI and PSL have an expense ratio of 0.60%.

Dividends

PXI vs. PSL - Dividend Comparison

PXI's dividend yield for the trailing twelve months is around 1.28%, more than PSL's 0.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PSL Invesco DWA Consumer Staples Momentum ETF	0.84%	0.93%	0.60%	1.37%	1.98%	1.24%	0.80%	0.47%	0.75%	0.34%	2.08%	1.18%
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 PSL in my portfolio?

PXI and PSL have a correlation of 0.08, 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 PSL?

PXI has higher volatility (7.81%) compared to PSL (3.08%). In terms of maximum drawdown, PXI dropped -85.08% vs PSL's -41.58%.

Which ETF is better, PXI or PSL?

On 10-year performance, PSL leads with 7.82% vs 5.94% for PXI. Both ETFs have the same 0.60% expense ratio. On volatility, PSL has been the lower-risk option at 3.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PXI or PSL?

Over the 10-year period, PSL has performed better with a 7.82% return vs 5.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PXI or PSL?

PXI and PSL have the same expense ratio: 0.60% per year.

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

PXI has the higher dividend yield at 1.28%, compared with 0.84% for PSL.

What is the main difference between PXI and PSL?

PXI tracks Dorsey Wright Energy Technical Leaders Index, while PSL tracks DWA Consumer Staples Technical Leaders Index.

Which has better risk-adjusted returns?

PXI currently has the higher Sharpe Ratio (2.22 vs -0.04), 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.