PYZ vs. IBIC
PYZ (Invesco DWA Basic Materials Momentum ETF) and IBIC (iShares iBonds Oct 2026 Term TIPS ETF) are both exchange-traded funds - PYZ is a Momentum fund tracking the Dorsey Wright Basic Materials Technical Leaders Index, while IBIC is a Inflation-Protected Bonds fund tracking the ICE 2026 Maturity US Inflation-Linked Treasury Index. Both are passively managed. Over the past year, PYZ returned 46.27% vs 4.54% for IBIC. At a 0.04 correlation, their price movements are largely independent. PYZ charges 0.60%/yr vs 0.10%/yr for IBIC.
Performance
PYZ vs. IBIC - Performance Comparison
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Returns By Period
In the year-to-date period, PYZ achieves a 19.96% return, which is significantly higher than IBIC's 2.37% return.
PYZ
- 1D
- -1.14%
- 1M
- 3.78%
- YTD
- 19.96%
- 6M
- 23.71%
- 1Y
- 46.27%
- 3Y*
- 18.73%
- 5Y*
- 8.15%
- 10Y*
- 10.47%
IBIC
- 1D
- 0.02%
- 1M
- 0.27%
- YTD
- 2.37%
- 6M
- 2.51%
- 1Y
- 4.54%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PYZ vs. IBIC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PYZ Invesco DWA Basic Materials Momentum ETF | 19.96% | 28.01% | 2.54% | 6.38% |
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 2.37% | 4.96% | 5.25% | 2.17% |
Correlation
The correlation between PYZ and IBIC is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2023 | 0.04 |
The correlation between PYZ and IBIC shifts across timeframes, from -0.10 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PYZ vs. IBIC — Risk / Return Rank
PYZ
IBIC
PYZ vs. IBIC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Basic Materials Momentum ETF (PYZ) and iShares iBonds Oct 2026 Term TIPS ETF (IBIC). 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 | IBIC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.23 | ||
| Sortino ratioReturn per unit of downside risk | -6.70 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 2.24 | -0.93 |
| Calmar ratioReturn relative to maximum drawdown | 2.62 | 17.27 | -14.65 |
| Martin ratioReturn relative to average drawdown | 8.64 | 67.45 | -58.81 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PYZ | IBIC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.82 | 5.05 | -3.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.32 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.40 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 3.49 | -3.12 |
Drawdowns
PYZ vs. IBIC - Drawdown Comparison
The maximum PYZ drawdown since its inception was -65.15%, which is greater than IBIC's maximum drawdown of -0.90%. Use the drawdown chart below to compare losses from any high point for PYZ and IBIC.
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Drawdown Indicators
| PYZ | IBIC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.15% | -0.90% | -64.25% |
Max Drawdown (1Y)Largest decline over 1 year | -17.75% | -0.26% | -17.49% |
Max Drawdown (3Y)Largest decline over 3 years | -26.74% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -32.97% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -52.46% | — | — |
Current DrawdownCurrent decline from peak | -1.14% | -0.13% | -1.01% |
Average DrawdownAverage peak-to-trough decline | -12.64% | -0.10% | -12.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.37% | 0.07% | +5.30% |
Volatility
PYZ vs. IBIC - Volatility Comparison
Invesco DWA Basic Materials Momentum ETF (PYZ) has a higher volatility of 7.68% compared to iShares iBonds Oct 2026 Term TIPS ETF (IBIC) at 0.33%. This indicates that PYZ's price experiences larger fluctuations and is considered to be riskier than IBIC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PYZ | IBIC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.68% | 0.33% | +7.35% |
Volatility (6M)Calculated over the trailing 6-month period | 20.11% | 0.67% | +19.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.57% | 0.90% | +24.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.69% | 1.58% | +24.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.43% | 1.58% | +24.85% |
PYZ vs. IBIC - Expense Ratio Comparison
PYZ has a 0.60% expense ratio, which is higher than IBIC's 0.10% expense ratio.
Dividends
PYZ vs. IBIC - Dividend Comparison
PYZ's dividend yield for the trailing twelve months is around 0.52%, less than IBIC's 3.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 3.59% | 4.43% | 4.65% | 0.83% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PYZ Invesco DWA Basic Materials Momentum ETF | 0.52% | 0.72% | 1.13% | 1.19% | 1.18% | 0.33% | 1.04% | 1.38% | 1.20% | 0.53% | 1.07% | 1.25% |
Frequently Asked Questions
PYZ and IBIC have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PYZ has higher volatility (7.68%) compared to IBIC (0.33%). In terms of maximum drawdown, PYZ dropped -65.15% vs IBIC's -0.90%.
On 1-year performance, PYZ leads with 46.27% vs 4.54% for IBIC. On fees, IBIC is cheaper at 0.10% per year. On volatility, IBIC has been the lower-risk option at 0.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, PYZ has performed better with a 46.27% return vs 4.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIC is cheaper with a 0.10% expense ratio, compared with 0.60% for PYZ.
IBIC has the higher dividend yield at 3.59%, compared with 0.52% for PYZ.
PYZ is categorized as Momentum, while IBIC is Inflation-Protected Bonds. PYZ tracks Dorsey Wright Basic Materials Technical Leaders Index, while IBIC tracks ICE 2026 Maturity US Inflation-Linked Treasury Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.60% for PYZ and 0.10% for IBIC.
IBIC currently has the higher Sharpe Ratio (5.05 vs 1.82), 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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