PYZ vs. ^GSPC

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco DWA Basic Materials Momentum ETF (PYZ) and S&P 500 Index (^GSPC).

PYZ is a passively managed fund by Invesco that tracks the performance of the Dynamic Basic Materials Sector Intellidex Index. It was launched on Oct 12, 2006.

Performance

PYZ vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco DWA Basic Materials Momentum ETF (PYZ) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

PYZ vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PYZ Invesco DWA Basic Materials Momentum ETF	8.90%	28.01%	2.54%	9.56%	-15.45%	32.68%	15.39%	20.66%	-24.33%	20.01%
^GSPC S&P 500 Index	-4.63%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Returns By Period

In the year-to-date period, PYZ achieves a 8.90% return, which is significantly higher than ^GSPC's -4.63% return. Over the past 10 years, PYZ has underperformed ^GSPC with an annualized return of 10.19%, while ^GSPC has yielded a comparatively higher 12.16% annualized return.

PYZ

• 1D: 4.75%
• 1M: -9.22%
• YTD: 8.90%
• 6M: 13.45%
• 1Y: 42.31%
• 3Y*: 13.26%
• 5Y*: 8.53%
• 10Y*: 10.19%

^GSPC

• 1D: 2.91%
• 1M: -5.09%
• YTD: -4.63%
• 6M: -2.39%
• 1Y: 16.33%
• 3Y*: 16.69%
• 5Y*: 10.18%
• 10Y*: 12.16%

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

Return for Risk

PYZ vs. ^GSPC — Risk / Return Rank

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

PYZ

PYZ Risk / Return Rank: 78
PYZ Sharpe Ratio Rank: 80
PYZ Sortino Ratio Rank: 80
PYZ Omega Ratio Rank: 75
PYZ Calmar Ratio Rank: 83
PYZ Martin Ratio Rank: 75

^GSPC

^GSPC Risk / Return Rank: 74
^GSPC Sharpe Ratio Rank: 69
^GSPC Sortino Ratio Rank: 68
^GSPC Omega Ratio Rank: 76
^GSPC Calmar Ratio Rank: 73
^GSPC Martin Ratio Rank: 85

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.

PYZ vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Basic Materials Momentum ETF (PYZ) and S&P 500 Index (^GSPC). 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.

	PYZ	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	1.50	0.90	+0.60
Sortino ratio Return per unit of downside risk	2.07	1.39	+0.68
Omega ratio Gain probability vs. loss probability	1.28	1.21	+0.07
Calmar ratio Return relative to maximum drawdown	2.39	1.40	+0.99
Martin ratio Return relative to average drawdown	7.77	6.61	+1.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PYZ vs. ^GSPC - Sharpe Ratio Comparison

The current PYZ Sharpe Ratio is 1.50, which is higher than the ^GSPC Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of PYZ and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PYZ	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.50	0.90	+0.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	0.61	-0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.39	0.68	-0.29
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.46	-0.10

Correlation

The correlation between PYZ and ^GSPC is 0.76, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

PYZ vs. ^GSPC - Drawdown Comparison

The maximum PYZ drawdown since its inception was -65.15%, which is greater than ^GSPC's maximum drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for PYZ and ^GSPC.

Drawdown Indicators

	PYZ	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-65.15%	-56.78%	-8.37%
Max Drawdown (1Y) Largest decline over 1 year	-17.75%	-12.14%	-5.61%
Max Drawdown (5Y) Largest decline over 5 years	-32.97%	-25.43%	-7.54%
Max Drawdown (10Y) Largest decline over 10 years	-52.46%	-33.92%	-18.54%
Current Drawdown Current decline from peak	-9.93%	-6.45%	-3.48%
Average Drawdown Average peak-to-trough decline	-12.71%	-10.75%	-1.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.46%	2.57%	+2.89%

Volatility

PYZ vs. ^GSPC - Volatility Comparison

Invesco DWA Basic Materials Momentum ETF (PYZ) has a higher volatility of 11.21% compared to S&P 500 Index (^GSPC) at 5.34%. This indicates that PYZ's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PYZ	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.21%	5.34%	+5.87%
Volatility (6M) Calculated over the trailing 6-month period	21.97%	9.54%	+12.43%
Volatility (1Y) Calculated over the trailing 1-year period	28.36%	18.33%	+10.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.95%	16.91%	+9.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.38%	18.05%	+8.33%