PXJ vs. VOO

Last updated Aug 2, 2026

PXJ (Invesco Dynamic Oil & Gas Services ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - PXJ is a Energy Equities fund tracking the Dynamic Oil & Gas Services Intellidex Index, while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, PXJ returned 0.28%/yr vs 15.14%/yr for VOO. Their 0.52 correlation means they have sometimes moved together and sometimes differently. PXJ charges 0.63%/yr vs 0.03%/yr for VOO.

Performance

PXJ vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dynamic Oil & Gas Services ETF (PXJ) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PXJ achieves a 46.85% return, which is significantly higher than VOO's 10.16% return. Over the past 10 years, PXJ has underperformed VOO with an annualized return of 0.28%, while VOO has yielded a comparatively higher 15.14% 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%

VOO

• 1D: 0.71%
• 1M: 0.26%
• 6M: 8.58%
• YTD: 10.16%
• 1Y: 21.58%
• 3Y*: 19.42%
• 5Y*: 12.83%
• 10Y*: 15.14%
• ALL TIME*: 14.78%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PXJ Invesco Dynamic Oil & Gas Services ETF	$722.42K	$1.28M	$1.87M
VOO Vanguard S&P 500 ETF	$3.82B	$3.78B	$5.44B

PXJ vs. VOO - 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%
VOO Vanguard S&P 500 ETF	10.16%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Correlation

The correlation between PXJ and VOO is 0.25, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.25
Correlation (3Y) Balances recent behavior with more history.	0.33
Correlation (5Y) Shows whether the relationship held over a longer period.	0.39
Correlation (10Y) Provides a long-term view across more market conditions.	0.44
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010	0.52

Over the past year, the correlation between PXJ and VOO has dropped to 0.25 - well below their long-term average of 0.52, suggesting their price drivers have been diverging.

PXJ vs. VOO - Sectors Allocation Comparison

Sectors	PXJ	VOO
Energy	74.8%	3.0%
Industrials	14.7%	8.5%
Utilities	2.1%	2.2%
Financial Services	0.2%	11.4%
Basic Materials	-	1.7%
Communication Services	-	9.9%
Consumer Cyclical	-	9.5%
Consumer Defensive	-	4.5%
Healthcare	-	8.9%
Real Estate	-	1.8%
Technology	-	38.6%

Return for Risk

PXJ vs. VOO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PXJ

PXJ Risk / Return Rank: 92
PXJ Sharpe Ratio Rank: 95
PXJ Sortino Ratio Rank: 93
PXJ Omega Ratio Rank: 91
PXJ Calmar Ratio Rank: 91
PXJ Martin Ratio Rank: 88

VOO

VOO Risk / Return Rank: 68
VOO Sharpe Ratio Rank: 68
VOO Sortino Ratio Rank: 65
VOO Omega Ratio Rank: 66
VOO Calmar Ratio Rank: 64
VOO Martin Ratio Rank: 76

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PXJ vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Oil & Gas Services ETF (PXJ) and Vanguard S&P 500 ETF (VOO). 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	VOO	Difference
Sharpe ratio: Return per unit of total volatility	2.81	1.53	+1.27
Sortino ratio: Return per unit of downside risk	3.52	2.13	+1.39
Omega ratio: Gain probability vs. loss probability	1.44	1.28	+0.16
Calmar ratio: Return relative to maximum drawdown	3.99	2.21	+1.78
Martin ratio: Return relative to average drawdown	13.19	9.44	+3.75

PXJ vs. VOO - Sharpe Ratio Comparison

The current PXJ Sharpe Ratio is 2.81, which is higher than the VOO Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of PXJ and VOO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PXJ vs. VOO - Drawdown Comparison

The maximum PXJ drawdown since its inception was -94.82%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for PXJ and VOO.

Drawdown Indicators

	PXJ	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-94.82%	-33.99%	-60.83%
Max Drawdown (1Y) Largest decline over 1 year	-18.39%	-8.90%	-9.49%
Max Drawdown (3Y) Largest decline over 3 years	-40.03%	-18.69%	-21.34%
Max Drawdown (5Y) Largest decline over 5 years	-40.03%	-24.52%	-15.51%
Max Drawdown (10Y) Largest decline over 10 years	-87.72%	-33.99%	-53.73%
Current Drawdown Current decline from peak	-66.44%	-1.38%	-65.06%
Average Drawdown Average peak-to-trough decline	-55.75%	-3.67%	-52.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.56%	2.08%	+3.48%

Volatility

PXJ vs. VOO - Volatility Comparison

Invesco Dynamic Oil & Gas Services ETF (PXJ) has a higher volatility of 7.30% compared to Vanguard S&P 500 ETF (VOO) at 3.54%. This indicates that PXJ's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PXJ	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.30%	3.54%	+3.76%
Volatility (6M) Calculated over the trailing 6-month period	19.19%	10.10%	+9.09%
Volatility (1Y) Calculated over the trailing 1-year period	26.25%	12.82%	+13.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.14%	16.93%	+17.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.16%	18.01%	+21.15%

PXJ vs. VOO - Expense Ratio Comparison

PXJ has a 0.63% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

PXJ vs. VOO - Dividend Comparison

PXJ's dividend yield for the trailing twelve months is around 2.38%, more than VOO's 1.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VOO Vanguard S&P 500 ETF	1.07%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both PXJ and VOO in my portfolio?

PXJ and VOO have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PXJ or VOO?

PXJ has higher volatility (7.30%) compared to VOO (3.54%). In terms of maximum drawdown, PXJ dropped -94.82% vs VOO's -33.99%.

Which ETF is better, PXJ or VOO?

On 10-year performance, VOO leads with 15.14% vs 0.28% for PXJ. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 3.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PXJ or VOO?

Over the 10-year period, VOO has performed better with a 15.14% return vs 0.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PXJ or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.63% for PXJ.

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

PXJ has the higher dividend yield at 2.38%, compared with 1.07% for VOO.

What is the main difference between PXJ and VOO?

PXJ is categorized as Energy Equities, while VOO is S&P 500. PXJ tracks Dynamic Oil & Gas Services Intellidex Index, while VOO tracks S&P 500 Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.63% for PXJ and 0.03% for VOO.

Which has better risk-adjusted returns?

PXJ currently has the higher Sharpe Ratio (2.81 vs 1.53), 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.