PYZ vs. XME

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco DWA Basic Materials Momentum ETF (PYZ) and SPDR S&P Metals & Mining ETF (XME).

PYZ and XME are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. XME is a passively managed fund by State Street that tracks the performance of the S&P Metals & Mining Select Industry Index. It was launched on Jun 19, 2006. Both PYZ and XME are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

PYZ vs. XME - Performance Comparison

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

PYZ vs. XME - 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%
XME SPDR S&P Metals & Mining ETF	4.31%	83.47%	-4.54%	21.51%	13.13%	34.92%	15.95%	14.69%	-26.78%	21.17%

Returns By Period

In the year-to-date period, PYZ achieves a 8.90% return, which is significantly higher than XME's 4.31% return. Over the past 10 years, PYZ has underperformed XME with an annualized return of 10.19%, while XME has yielded a comparatively higher 19.54% 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%

XME

• 1D: 4.40%
• 1M: -9.45%
• YTD: 4.31%
• 6M: 16.12%
• 1Y: 93.75%
• 3Y*: 27.50%
• 5Y*: 22.88%
• 10Y*: 19.54%

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

PYZ vs. XME - Expense Ratio Comparison

PYZ has a 0.60% expense ratio, which is higher than XME's 0.35% expense ratio.

PYZ

Invesco DWA Basic Materials Momentum ETF

XME

SPDR S&P Metals & Mining ETF

Return for Risk

PYZ vs. XME — 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

XME

XME Risk / Return Rank: 94
XME Sharpe Ratio Rank: 97
XME Sortino Ratio Rank: 95
XME Omega Ratio Rank: 94
XME Calmar Ratio Rank: 96
XME Martin Ratio Rank: 91

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. XME - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Basic Materials Momentum ETF (PYZ) and SPDR S&P Metals & Mining ETF (XME). 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	XME	Difference
Sharpe ratio Return per unit of total volatility	1.50	2.63	-1.14
Sortino ratio Return per unit of downside risk	2.07	3.07	-1.00
Omega ratio Gain probability vs. loss probability	1.28	1.42	-0.14
Calmar ratio Return relative to maximum drawdown	2.39	4.05	-1.66
Martin ratio Return relative to average drawdown	7.77	11.64	-3.87
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. XME - Sharpe Ratio Comparison

The current PYZ Sharpe Ratio is 1.50, which is lower than the XME Sharpe Ratio of 2.63. The chart below compares the historical Sharpe Ratios of PYZ and XME, 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	XME	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.50	2.63	-1.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	0.71	-0.38
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.39	0.59	-0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.15	+0.20

Correlation

The correlation between PYZ and XME is 0.82, 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.

Dividends

PYZ vs. XME - Dividend Comparison

PYZ's dividend yield for the trailing twelve months is around 0.57%, more than XME's 0.35% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PYZ Invesco DWA Basic Materials Momentum ETF	0.57%	0.72%	1.13%	1.19%	1.18%	0.33%	1.04%	1.38%	1.20%	0.53%	1.07%	1.25%
XME SPDR S&P Metals & Mining ETF	0.35%	0.38%	0.65%	1.00%	1.64%	0.70%	0.99%	2.43%	2.23%	1.15%	1.02%	2.61%

Drawdowns

PYZ vs. XME - Drawdown Comparison

The maximum PYZ drawdown since its inception was -65.15%, smaller than the maximum XME drawdown of -85.89%. Use the drawdown chart below to compare losses from any high point for PYZ and XME.

Drawdown Indicators

	PYZ	XME	Difference
Max Drawdown Largest peak-to-trough decline	-65.15%	-85.89%	+20.74%
Max Drawdown (1Y) Largest decline over 1 year	-17.75%	-22.60%	+4.85%
Max Drawdown (5Y) Largest decline over 5 years	-32.97%	-37.27%	+4.30%
Max Drawdown (10Y) Largest decline over 10 years	-52.46%	-61.69%	+9.23%
Current Drawdown Current decline from peak	-9.93%	-17.77%	+7.84%
Average Drawdown Average peak-to-trough decline	-12.71%	-44.45%	+31.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.46%	7.87%	-2.41%

Volatility

PYZ vs. XME - Volatility Comparison

Invesco DWA Basic Materials Momentum ETF (PYZ) and SPDR S&P Metals & Mining ETF (XME) have volatilities of 11.21% and 11.55%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PYZ	XME	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.21%	11.55%	-0.34%
Volatility (6M) Calculated over the trailing 6-month period	21.97%	28.02%	-6.05%
Volatility (1Y) Calculated over the trailing 1-year period	28.36%	35.81%	-7.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.95%	32.46%	-6.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.38%	32.98%	-6.60%