PXJ vs. SPHD
PXJ (Invesco Dynamic Oil & Gas Services ETF) and SPHD (Invesco S&P 500® High Dividend Low Volatility ETF) are both exchange-traded funds - PXJ is a Energy Equities fund tracking the Dynamic Oil & Gas Services Intellidex Index, while SPHD is a Dividend fund tracking the S&P 500 Low Volatility High Dividend Index. Both are passively managed. Over the past 10 years, PXJ returned -0.97%/yr vs 7.82%/yr for SPHD. At a 0.50 correlation, their price movements are largely independent. PXJ charges 0.63%/yr vs 0.30%/yr for SPHD.
Performance
PXJ vs. SPHD - Performance Comparison
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Returns By Period
In the year-to-date period, PXJ achieves a 37.50% return, which is significantly higher than SPHD's 9.11% return. Over the past 10 years, PXJ has underperformed SPHD with an annualized return of -0.97%, while SPHD has yielded a comparatively higher 7.82% annualized return.
PXJ
- 1D
- 0.22%
- 1M
- -11.00%
- YTD
- 37.50%
- 6M
- 38.54%
- 1Y
- 72.02%
- 3Y*
- 22.61%
- 5Y*
- 16.98%
- 10Y*
- -0.97%
SPHD
- 1D
- 0.89%
- 1M
- 2.12%
- YTD
- 9.11%
- 6M
- 8.71%
- 1Y
- 14.03%
- 3Y*
- 12.44%
- 5Y*
- 7.09%
- 10Y*
- 7.82%
PXJ vs. SPHD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PXJ Invesco Dynamic Oil & Gas Services ETF | 37.50% | 8.74% | 0.21% | 14.44% | 62.25% | 11.28% | -44.31% | -0.32% | -39.82% | -23.08% |
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 9.11% | 3.41% | 18.08% | 1.32% | 0.58% | 24.98% | -9.98% | 20.26% | -6.17% | 11.90% |
Correlation
The correlation between PXJ and SPHD is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2012 | 0.50 |
The correlation between PXJ and SPHD shifts across timeframes, from 0.36 (3 years) to 0.50 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PXJ vs. SPHD — Risk / Return Rank
PXJ
SPHD
PXJ vs. SPHD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Oil & Gas Services ETF (PXJ) and Invesco S&P 500® High Dividend Low Volatility ETF (SPHD). 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 | SPHD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.48 | ||
| Sortino ratioReturn per unit of downside risk | +1.57 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.21 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 5.06 | 1.92 | +3.14 |
| Martin ratioReturn relative to average drawdown | 17.76 | 4.71 | +13.05 |
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Drawdowns
PXJ vs. SPHD - Drawdown Comparison
The maximum PXJ drawdown since its inception was -94.82%, which is greater than SPHD's maximum drawdown of -41.39%. Use the drawdown chart below to compare losses from any high point for PXJ and SPHD.
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Drawdown Indicators
| PXJ | SPHD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.82% | -41.39% | -53.43% |
Max Drawdown (1Y)Largest decline over 1 year | -14.30% | -7.33% | -6.97% |
Max Drawdown (3Y)Largest decline over 3 years | -40.03% | -13.29% | -26.74% |
Max Drawdown (5Y)Largest decline over 5 years | -40.03% | -19.50% | -20.53% |
Max Drawdown (10Y)Largest decline over 10 years | -87.72% | -41.39% | -46.33% |
Current DrawdownCurrent decline from peak | -68.58% | -1.08% | -67.50% |
Average DrawdownAverage peak-to-trough decline | -55.69% | -4.69% | -51.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.07% | 2.98% | +1.09% |
Volatility
PXJ vs. SPHD - Volatility Comparison
Invesco Dynamic Oil & Gas Services ETF (PXJ) has a higher volatility of 9.17% compared to Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) at 4.28%. This indicates that PXJ's price experiences larger fluctuations and is considered to be riskier than SPHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PXJ | SPHD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.17% | 4.28% | +4.89% |
Volatility (6M)Calculated over the trailing 6-month period | 18.87% | 8.14% | +10.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.70% | 11.48% | +15.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.51% | 14.16% | +20.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.34% | 17.64% | +21.70% |
PXJ vs. SPHD - Expense Ratio Comparison
PXJ has a 0.63% expense ratio, which is higher than SPHD's 0.30% expense ratio.
Dividends
PXJ vs. SPHD - Dividend Comparison
PXJ's dividend yield for the trailing twelve months is around 2.54%, less than SPHD's 4.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PXJ Invesco Dynamic Oil & Gas Services ETF | 2.54% | 2.91% | 3.34% | 1.99% | 0.65% | 2.40% | 4.72% | 1.87% | 0.99% | 2.75% | 1.18% | 2.36% |
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 4.56% | 4.02% | 3.41% | 4.48% | 3.89% | 3.45% | 4.89% | 4.07% | 4.40% | 3.14% | 3.83% | 3.49% |
Frequently Asked Questions
PXJ and SPHD have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PXJ has higher volatility (9.17%) compared to SPHD (4.28%). In terms of maximum drawdown, PXJ dropped -94.82% vs SPHD's -41.39%.
On 10-year performance, SPHD leads with 7.82% vs -0.97% for PXJ. On fees, SPHD is cheaper at 0.30% per year. On volatility, SPHD has been the lower-risk option at 4.28%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPHD has performed better with a 7.82% return vs -0.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPHD is cheaper with a 0.30% expense ratio, compared with 0.63% for PXJ.
SPHD has the higher dividend yield at 4.56%, compared with 2.54% for PXJ.
PXJ is categorized as Energy Equities, while SPHD is Dividend. PXJ tracks Dynamic Oil & Gas Services Intellidex Index, while SPHD tracks S&P 500 Low Volatility High Dividend Index. Their fees differ too: 0.63% for PXJ and 0.30% for SPHD.
PXJ currently has the higher Sharpe Ratio (2.71 vs 1.24), 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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