PYZ vs. JAGLX

Last updated Jun 5, 2026

PYZ (Invesco DWA Basic Materials Momentum ETF) and JAGLX (Janus Henderson Global Life Sciences Fund Class T) are both funds - PYZ is a Momentum fund tracking the Dorsey Wright Basic Materials Technical Leaders Index, while JAGLX is a Health & Biotech Equities fund actively managed by Janus Henderson. PYZ is passively managed, while JAGLX is actively managed. Over the past 10 years, PYZ returned 10.27%/yr vs 10.94%/yr for JAGLX. A 0.58 correlation means they provide meaningful diversification when combined. PYZ charges 0.60%/yr vs 0.92%/yr for JAGLX.

Performance

PYZ vs. JAGLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco DWA Basic Materials Momentum ETF (PYZ) and Janus Henderson Global Life Sciences Fund Class T (JAGLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PYZ achieves a 19.31% return, which is significantly higher than JAGLX's -2.55% return. Over the past 10 years, PYZ has underperformed JAGLX with an annualized return of 10.27%, while JAGLX has yielded a comparatively higher 10.94% annualized return.

PYZ

• 1D: -0.54%
• 1M: 1.05%
• YTD: 19.31%
• 6M: 22.21%
• 1Y: 44.91%
• 3Y*: 18.92%
• 5Y*: 8.03%
• 10Y*: 10.27%

JAGLX

• 1D: 1.14%
• 1M: -0.31%
• YTD: -2.55%
• 6M: -0.80%
• 1Y: 26.04%
• 3Y*: 11.36%
• 5Y*: 8.05%
• 10Y*: 10.94%

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

PYZ vs. JAGLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PYZ Invesco DWA Basic Materials Momentum ETF	19.31%	28.01%	2.54%	9.56%	-15.45%	32.68%	15.39%	20.66%	-24.33%	20.01%
JAGLX Janus Henderson Global Life Sciences Fund Class T	-2.55%	24.72%	8.50%	7.41%	-2.79%	6.66%	25.52%	29.12%	4.05%	22.13%

Correlation

The correlation between PYZ and JAGLX is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.48
Correlation (10Y) Calculated over the trailing 10-year period	0.49
Correlation (All Time) Calculated using the full available price history since Oct 13, 2006	0.58

Over the past year, the correlation between PYZ and JAGLX has dropped to 0.31 - well below their long-term average of 0.58, suggesting their price drivers have been diverging.

Return for Risk

PYZ vs. JAGLX — Risk / Return Rank

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

PYZ

PYZ Risk / Return Rank: 50
PYZ Sharpe Ratio Rank: 52
PYZ Sortino Ratio Rank: 49
PYZ Omega Ratio Rank: 48
PYZ Calmar Ratio Rank: 52
PYZ Martin Ratio Rank: 50

JAGLX

JAGLX Risk / Return Rank: 42
JAGLX Sharpe Ratio Rank: 40
JAGLX Sortino Ratio Rank: 40
JAGLX Omega Ratio Rank: 37
JAGLX Calmar Ratio Rank: 53
JAGLX Martin Ratio Rank: 41

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. JAGLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Basic Materials Momentum ETF (PYZ) and Janus Henderson Global Life Sciences Fund Class T (JAGLX). 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	JAGLX	Difference
Sharpe ratio: Return per unit of total volatility	1.77	1.78	-0.02
Sortino ratio: Return per unit of downside risk	2.37	2.60	-0.24
Omega ratio: Gain probability vs. loss probability	1.30	1.31	-0.01
Calmar ratio: Return relative to maximum drawdown	2.54	2.73	-0.19
Martin ratio: Return relative to average drawdown	8.38	8.66	-0.27
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. JAGLX - Sharpe Ratio Comparison

The current PYZ Sharpe Ratio is 1.77, which is comparable to the JAGLX Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of PYZ and JAGLX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PYZ	JAGLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.77	1.78	-0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.31	0.51	-0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.39	0.63	-0.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.58	-0.21

Drawdowns

PYZ vs. JAGLX - Drawdown Comparison

The maximum PYZ drawdown since its inception was -65.15%, which is greater than JAGLX's maximum drawdown of -58.96%. Use the drawdown chart below to compare losses from any high point for PYZ and JAGLX.

Drawdown Indicators

	PYZ	JAGLX	Difference
Max Drawdown Largest peak-to-trough decline	-65.15%	-58.96%	-6.19%
Max Drawdown (1Y) Largest decline over 1 year	-17.75%	-9.71%	-8.04%
Max Drawdown (3Y) Largest decline over 3 years	-26.74%	-17.41%	-9.33%
Max Drawdown (5Y) Largest decline over 5 years	-32.97%	-22.25%	-10.72%
Max Drawdown (10Y) Largest decline over 10 years	-52.46%	-27.38%	-25.08%
Current Drawdown Current decline from peak	-1.68%	-5.47%	+3.79%
Average Drawdown Average peak-to-trough decline	-12.64%	-17.43%	+4.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.37%	3.05%	+2.32%

Volatility

PYZ vs. JAGLX - Volatility Comparison

Invesco DWA Basic Materials Momentum ETF (PYZ) has a higher volatility of 7.44% compared to Janus Henderson Global Life Sciences Fund Class T (JAGLX) at 4.81%. This indicates that PYZ's price experiences larger fluctuations and is considered to be riskier than JAGLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PYZ	JAGLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.44%	4.81%	+2.63%
Volatility (6M) Calculated over the trailing 6-month period	20.12%	10.89%	+9.23%
Volatility (1Y) Calculated over the trailing 1-year period	25.52%	14.86%	+10.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.70%	15.92%	+9.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.43%	17.41%	+9.02%

PYZ vs. JAGLX - Expense Ratio Comparison

PYZ has a 0.60% expense ratio, which is lower than JAGLX's 0.92% expense ratio.

Dividends

PYZ vs. JAGLX - Dividend Comparison

PYZ's dividend yield for the trailing twelve months is around 0.52%, less than JAGLX's 4.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JAGLX Janus Henderson Global Life Sciences Fund Class T	4.65%	4.53%	10.98%	4.22%	0.14%	9.78%	7.75%	6.17%	13.38%	0.89%	1.13%	9.09%
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

Can I hold both PYZ and JAGLX in my portfolio?

PYZ and JAGLX have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PYZ or JAGLX?

PYZ has higher volatility (7.44%) compared to JAGLX (4.81%). In terms of maximum drawdown, PYZ dropped -65.15% vs JAGLX's -58.96%.

Which has better risk-adjusted returns?

JAGLX currently has the higher Sharpe Ratio (1.78 vs 1.77), 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.