PXJ vs. DVXE

Last updated Jul 14, 2026

PXJ (Invesco Dynamic Oil & Gas Services ETF) and DVXE (WEBs Energy XLE Defined Volatility ETF) are both Energy Equities funds - PXJ tracks the Dynamic Oil & Gas Services Intellidex Index while DVXE tracks the Syntax Defined Volatility XLE Index. Both are passively managed. A 0.68 correlation means they provide meaningful diversification when combined. PXJ charges 0.63%/yr vs 0.89%/yr for DVXE.

Performance

PXJ vs. DVXE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dynamic Oil & Gas Services ETF (PXJ) and WEBs Energy XLE Defined Volatility ETF (DVXE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with PXJ having a 41.36% return and DVXE slightly higher at 41.45%.

PXJ

• 1D: 0.39%
• 1M: -6.30%
• 6M: 29.86%
• YTD: 41.36%
• 1Y: 62.95%
• 3Y*: 18.32%
• 5Y*: 20.43%
• 10Y*: -1.35%

DVXE

• 1D: 3.61%
• 1M: -0.03%
• 6M: 34.11%
• YTD: 41.45%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PXJ vs. DVXE - Yearly Performance Comparison

	2026 (YTD)	2025
PXJ Invesco Dynamic Oil & Gas Services ETF	41.36%	20.97%
DVXE WEBs Energy XLE Defined Volatility ETF	41.45%	4.49%

Correlation

The correlation between PXJ and DVXE is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 23, 2025	0.68

Return for Risk

PXJ vs. DVXE — Risk / Return Rank

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

PXJ

PXJ Risk / Return Rank: 84
PXJ Sharpe Ratio Rank: 90
PXJ Sortino Ratio Rank: 86
PXJ Omega Ratio Rank: 80
PXJ Calmar Ratio Rank: 82
PXJ Martin Ratio Rank: 81

DVXE

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

PXJ vs. DVXE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Oil & Gas Services ETF (PXJ) and WEBs Energy XLE Defined Volatility ETF (DVXE). 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.

	PXJ	DVXE	Difference
Sharpe ratio: Return per unit of total volatility	2.36	—	—
Sortino ratio: Return per unit of downside risk	3.07	—	—
Omega ratio: Gain probability vs. loss probability	1.37	—	—
Calmar ratio: Return relative to maximum drawdown	3.44	—	—
Martin ratio: Return relative to average drawdown	12.34	—	—

Drawdowns

PXJ vs. DVXE - Drawdown Comparison

The maximum PXJ drawdown since its inception was -94.82%, which is greater than DVXE's maximum drawdown of -21.83%. Use the drawdown chart below to compare losses from any high point for PXJ and DVXE.

Drawdown Indicators

	PXJ	DVXE	Difference
Max Drawdown Largest peak-to-trough decline	-94.82%	-21.83%	-72.99%
Max Drawdown (1Y) Largest decline over 1 year	-18.39%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-40.03%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-40.03%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-87.72%	—	—
Current Drawdown Current decline from peak	-67.70%	-14.13%	-53.57%
Average Drawdown Average peak-to-trough decline	-55.72%	-7.03%	-48.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.17%	—	—

Volatility

Volatility by Period

	PXJ	DVXE	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.58%	—	—
Volatility (6M) Calculated over the trailing 6-month period	19.21%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	26.83%	31.04%	-4.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.36%	31.04%	+3.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.20%	31.04%	+8.16%

PXJ vs. DVXE - Expense Ratio Comparison

PXJ has a 0.63% expense ratio, which is lower than DVXE's 0.89% expense ratio.

Dividends

PXJ vs. DVXE - Dividend Comparison

PXJ's dividend yield for the trailing twelve months is around 2.47%, while DVXE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DVXE WEBs Energy XLE Defined Volatility ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PXJ Invesco Dynamic Oil & Gas Services ETF	2.47%	2.91%	3.34%	1.99%	0.65%	2.40%	4.72%	1.87%	0.99%	2.75%	1.18%	2.36%

Frequently Asked Questions

Can I hold both PXJ and DVXE in my portfolio?

PXJ and DVXE have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PXJ or DVXE?

On fees, PXJ is cheaper at 0.63% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PXJ or DVXE?

PXJ is cheaper with a 0.63% expense ratio, compared with 0.89% for DVXE.

Which ETF pays a higher dividend yield, PXJ or DVXE?

PXJ has the higher dividend yield at 2.47%, compared with 0.00% for DVXE.

What is the main difference between PXJ and DVXE?

PXJ tracks Dynamic Oil & Gas Services Intellidex Index, while DVXE tracks Syntax Defined Volatility XLE Index. They also come from different issuers: Invesco and WEBs. Their fees differ too: 0.63% for PXJ and 0.89% for DVXE.