PXJ vs. PXE
PXJ (Invesco Dynamic Oil & Gas Services ETF) and PXE (Invesco Dynamic Energy Exploration & Production ETF) are both Energy Equities funds from Invesco - PXJ tracks the Dynamic Oil & Gas Services Intellidex Index while PXE tracks the Dynamic Energy Exploration & Production Intellidex Index. Both are passively managed. Over the past 10 years, PXJ returned 0.28%/yr vs 9.83%/yr for PXE. Their correlation of 0.85 means they have usually moved in the same direction. Both charge a 0.63% expense ratio.
Performance
PXJ vs. PXE - Performance Comparison
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Returns By Period
In the year-to-date period, PXJ achieves a 46.85% return, which is significantly higher than PXE's 39.33% return. Over the past 10 years, PXJ has underperformed PXE with an annualized return of 0.28%, while PXE has yielded a comparatively higher 9.83% annualized return.
PXJ
- 1D
- 2.51%
- 1M
- 10.36%
- 6M
- 21.41%
- YTD
- 46.85%
- 1Y
- 78.26%
- 3Y*
- 16.40%
- 5Y*
- 23.04%
- 10Y*
- 0.28%
- ALL TIME*
- -1.70%
PXE
- 1D
- 1.60%
- 1M
- 13.35%
- 6M
- 28.40%
- YTD
- 39.33%
- 1Y
- 43.00%
- 3Y*
- 10.53%
- 5Y*
- 22.63%
- 10Y*
- 9.83%
- ALL TIME*
- 6.48%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.20M | $1.09M | $1.99M | |
| $722.42K | $1.28M | $1.87M |
PXJ vs. PXE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PXJ Invesco Dynamic Oil & Gas Services ETF | 46.85% | 8.74% | 0.21% | 14.44% | 62.25% | 11.28% | -44.31% | -0.32% | -39.82% | -23.08% |
PXE Invesco Dynamic Energy Exploration & Production ETF | 39.33% | -2.82% | -1.86% | 7.69% | 58.32% | 94.04% | -36.76% | -1.69% | -23.35% | 1.02% |
Correlation
The correlation between PXJ and PXE is 0.60, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.60 |
Correlation (3Y) Balances recent behavior with more history. | 0.75 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.81 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.83 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2005 | 0.85 |
Over the past year, the correlation between PXJ and PXE has dropped to 0.60 - well below their long-term average of 0.85, suggesting their price drivers have been diverging.
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Return for Risk
PXJ vs. PXE — Risk / Return Rank
PXJ
PXE
PXJ vs. PXE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Oil & Gas Services ETF (PXJ) and Invesco Dynamic Energy Exploration & Production ETF (PXE). 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 | PXE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.44 | ||
| Sortino ratioReturn per unit of downside risk | +1.66 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.23 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 3.99 | 2.28 | +1.72 |
| Martin ratioReturn relative to average drawdown | 13.19 | 5.41 | +7.78 |
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Drawdowns
PXJ vs. PXE - Drawdown Comparison
The maximum PXJ drawdown since its inception was -94.82%, which is greater than PXE's maximum drawdown of -83.99%. Use the drawdown chart below to compare losses from any high point for PXJ and PXE.
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Drawdown Indicators
| PXJ | PXE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.82% | -83.99% | -10.83% |
Max Drawdown (1Y)Largest decline over 1 year | -18.39% | -16.70% | -1.69% |
Max Drawdown (3Y)Largest decline over 3 years | -40.03% | -37.65% | -2.38% |
Max Drawdown (5Y)Largest decline over 5 years | -40.03% | -37.65% | -2.38% |
Max Drawdown (10Y)Largest decline over 10 years | -87.72% | -80.17% | -7.55% |
Current DrawdownCurrent decline from peak | -66.44% | -3.63% | -62.81% |
Average DrawdownAverage peak-to-trough decline | -55.75% | -27.86% | -27.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.56% | 7.05% | -1.49% |
Volatility
PXJ vs. PXE - Volatility Comparison
The current volatility for Invesco Dynamic Oil & Gas Services ETF (PXJ) is 7.30%, while Invesco Dynamic Energy Exploration & Production ETF (PXE) has a volatility of 7.84%. This indicates that PXJ experiences smaller price fluctuations and is considered to be less risky than PXE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PXJ | PXE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.30% | 7.84% | -0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 19.19% | 21.55% | -2.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.25% | 27.75% | -1.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.14% | 33.27% | +0.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.16% | 36.95% | +2.21% |
PXJ vs. PXE - Expense Ratio Comparison
Both PXJ and PXE have an expense ratio of 0.63%.
Dividends
PXJ vs. PXE - Dividend Comparison
PXJ's dividend yield for the trailing twelve months is around 2.38%, more than PXE's 1.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PXE Invesco Dynamic Energy Exploration & Production ETF | 1.72% | 2.98% | 2.54% | 2.78% | 3.03% | 1.86% | 4.10% | 1.70% | 1.29% | 1.54% | 6.62% | 2.58% |
PXJ Invesco Dynamic Oil & Gas Services ETF | 2.38% | 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
PXJ and PXE have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PXE has higher volatility (7.84%) compared to PXJ (7.30%). In terms of maximum drawdown, PXJ dropped -94.82% vs PXE's -83.99%.
On 10-year performance, PXE leads with 9.83% vs 0.28% for PXJ. Both ETFs have the same 0.63% expense ratio. On volatility, PXJ has been the lower-risk option at 7.30%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PXE has performed better with a 9.83% return vs 0.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PXJ and PXE have the same expense ratio: 0.63% per year.
PXJ has the higher dividend yield at 2.38%, compared with 1.72% for PXE.
PXJ tracks Dynamic Oil & Gas Services Intellidex Index, while PXE tracks Dynamic Energy Exploration & Production Intellidex Index.
PXJ currently has the higher Sharpe Ratio (2.81 vs 1.37), 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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