PXI vs. VDE

Last updated Jun 3, 2026

PXI (Invesco DWA Energy Momentum ETF) and VDE (Vanguard Energy ETF) are both exchange-traded funds - PXI is a Momentum fund tracking the Dorsey Wright Energy Technical Leaders Index, while VDE is a Energy Equities fund tracking the MSCI US Investable Market Energy 25/50 Index. Both are passively managed. Over the past 10 years, PXI returned 6.20%/yr vs 9.58%/yr for VDE. Their correlation of 0.93 suggests significant overlap in exposure. PXI charges 0.60%/yr vs 0.10%/yr for VDE.

Performance

PXI vs. VDE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco DWA Energy Momentum ETF (PXI) and Vanguard Energy ETF (VDE). 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 30.80% return and VDE slightly lower at 30.77%. Over the past 10 years, PXI has underperformed VDE with an annualized return of 6.20%, while VDE has yielded a comparatively higher 9.58% annualized return.

PXI

• 1D: 1.91%
• 1M: -2.96%
• YTD: 30.80%
• 6M: 26.53%
• 1Y: 45.76%
• 3Y*: 17.93%
• 5Y*: 16.60%
• 10Y*: 6.20%

VDE

• 1D: 1.17%
• 1M: -2.27%
• YTD: 30.77%
• 6M: 30.53%
• 1Y: 45.89%
• 3Y*: 17.53%
• 5Y*: 20.34%
• 10Y*: 9.58%

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

PXI vs. VDE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PXI Invesco DWA Energy Momentum ETF	30.80%	3.86%	0.76%	5.48%	45.85%	75.05%	-35.91%	1.67%	-27.56%	-8.42%
VDE Vanguard Energy ETF	30.77%	7.11%	6.75%	0.03%	62.89%	56.31%	-33.02%	9.28%	-19.95%	-2.50%

Correlation

The correlation between PXI and VDE is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Oct 13, 2006	0.93

The correlation between PXI and VDE has been stable across timeframes, ranging from 0.87 to 0.93 - a consistent structural relationship.

PXI vs. VDE - Sectors Allocation Comparison

Sectors	PXI	VDE
Energy	95.6%	99.5%
Basic Materials	4.4%	0.4%
Industrials	0.9%	0.1%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

PXI vs. VDE — Risk / Return Rank

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

PXI

PXI Risk / Return Rank: 66
PXI Sharpe Ratio Rank: 63
PXI Sortino Ratio Rank: 57
PXI Omega Ratio Rank: 56
PXI Calmar Ratio Rank: 82
PXI Martin Ratio Rank: 71

VDE

VDE Risk / Return Rank: 66
VDE Sharpe Ratio Rank: 68
VDE Sortino Ratio Rank: 61
VDE Omega Ratio Rank: 59
VDE Calmar Ratio Rank: 78
VDE Martin Ratio Rank: 65

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. VDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Energy Momentum ETF (PXI) and Vanguard Energy ETF (VDE). 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	VDE	Difference
Sharpe ratio Return per unit of total volatility	2.15	2.27	-0.12
Sortino ratio Return per unit of downside risk	2.73	2.90	-0.17
Omega ratio Gain probability vs. loss probability	1.35	1.36	-0.02
Calmar ratio Return relative to maximum drawdown	4.41	4.04	+0.36
Martin ratio Return relative to average drawdown	13.58	11.98	+1.61
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. VDE - Sharpe Ratio Comparison

The current PXI Sharpe Ratio is 2.15, which is comparable to the VDE Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of PXI and VDE, 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	VDE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.15	2.27	-0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	0.77	-0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.17	0.32	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	0.28	-0.12

Drawdowns

PXI vs. VDE - Drawdown Comparison

The maximum PXI drawdown since its inception was -85.08%, which is greater than VDE's maximum drawdown of -74.20%. Use the drawdown chart below to compare losses from any high point for PXI and VDE.

Drawdown Indicators

	PXI	VDE	Difference
Max Drawdown Largest peak-to-trough decline	-85.08%	-74.20%	-10.88%
Max Drawdown (1Y) Largest decline over 1 year	-10.83%	-11.80%	+0.97%
Max Drawdown (3Y) Largest decline over 3 years	-30.74%	-21.41%	-9.33%
Max Drawdown (5Y) Largest decline over 5 years	-33.47%	-26.58%	-6.89%
Max Drawdown (10Y) Largest decline over 10 years	-79.55%	-69.29%	-10.26%
Current Drawdown Current decline from peak	-4.71%	-7.48%	+2.77%
Average Drawdown Average peak-to-trough decline	-29.44%	-19.97%	-9.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.51%	3.98%	-0.47%

Volatility

PXI vs. VDE - Volatility Comparison

Invesco DWA Energy Momentum ETF (PXI) and Vanguard Energy ETF (VDE) have volatilities of 7.95% and 7.98%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PXI	VDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.95%	7.98%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	16.34%	16.32%	+0.02%
Volatility (1Y) Calculated over the trailing 1-year period	21.46%	20.38%	+1.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.47%	26.40%	+7.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.20%	29.94%	+7.26%

PXI vs. VDE - Expense Ratio Comparison

PXI has a 0.60% expense ratio, which is higher than VDE's 0.10% expense ratio.

Dividends

PXI vs. VDE - Dividend Comparison

PXI's dividend yield for the trailing twelve months is around 1.30%, less than VDE's 2.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VDE Vanguard Energy ETF	2.40%	3.11%	3.23%	3.34%	3.65%	4.13%	4.76%	3.42%	3.35%	2.90%	2.31%	3.17%

Frequently Asked Questions

Can I hold both PXI and VDE in my portfolio?

PXI and VDE have a correlation of 0.87, 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 VDE?

VDE has higher volatility (7.98%) compared to PXI (7.95%). In terms of maximum drawdown, PXI dropped -85.08% vs VDE's -74.20%.

Which ETF is better, PXI or VDE?

On 10-year performance, VDE leads with 9.58% vs 6.20% for PXI. On fees, VDE is cheaper at 0.10% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PXI or VDE?

Over the 10-year period, VDE has performed better with a 9.58% return vs 6.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PXI or VDE?

VDE is cheaper with a 0.10% expense ratio, compared with 0.60% for PXI.

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

VDE has the higher dividend yield at 2.40%, compared with 1.30% for PXI.

What is the main difference between PXI and VDE?

PXI is categorized as Momentum, while VDE is Energy Equities. PXI tracks Dorsey Wright Energy Technical Leaders Index, while VDE tracks MSCI US Investable Market Energy 25/50 Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.60% for PXI and 0.10% for VDE.

Which has better risk-adjusted returns?

VDE currently has the higher Sharpe Ratio (2.27 vs 2.15), 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.