RONB vs. PFM
RONB (Baron First Principles ETF) and PFM (Invesco Dividend Achievers™ ETF) are both Large Cap Growth Equities funds. RONB is actively managed, while PFM is passively managed. At a 0.47 correlation, their price movements are largely independent. RONB charges 1.00%/yr vs 0.53%/yr for PFM.
Performance
RONB vs. PFM - Performance Comparison
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Returns By Period
In the year-to-date period, RONB achieves a -6.63% return, which is significantly lower than PFM's 7.43% return.
RONB
- 1D
- -0.34%
- 1M
- -1.56%
- YTD
- -6.63%
- 6M
- -8.36%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PFM
- 1D
- -0.16%
- 1M
- 0.12%
- YTD
- 7.43%
- 6M
- 6.87%
- 1Y
- 18.00%
- 3Y*
- 15.64%
- 5Y*
- 10.77%
- 10Y*
- 11.76%
RONB vs. PFM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
RONB Baron First Principles ETF | -6.63% | -0.76% |
PFM Invesco Dividend Achievers™ ETF | 7.43% | -0.54% |
Correlation
The correlation between RONB and PFM is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 15, 2025 | 0.47 |
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Return for Risk
RONB vs. PFM — Risk / Return Rank
RONB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
PFM
RONB vs. PFM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baron First Principles ETF (RONB) and Invesco Dividend Achievers™ ETF (PFM). 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.
| RONB | PFM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.34 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.55 | — |
| Martin ratioReturn relative to average drawdown | — | 10.32 | — |
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Drawdowns
RONB vs. PFM - Drawdown Comparison
The maximum RONB drawdown since its inception was -13.08%, smaller than the maximum PFM drawdown of -53.21%. Use the drawdown chart below to compare losses from any high point for RONB and PFM.
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Drawdown Indicators
| RONB | PFM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.08% | -53.21% | +40.13% |
Max Drawdown (1Y)Largest decline over 1 year | — | -7.09% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -14.50% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.81% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.22% | — |
Current DrawdownCurrent decline from peak | -10.26% | -1.01% | -9.25% |
Average DrawdownAverage peak-to-trough decline | -6.19% | -6.93% | +0.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.75% | — |
Volatility
RONB vs. PFM - Volatility Comparison
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Volatility by Period
| RONB | PFM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 2.48% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 7.21% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 20.43% | 9.53% | +10.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.43% | 13.51% | +6.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.43% | 15.20% | +5.23% |
RONB vs. PFM - Expense Ratio Comparison
RONB has a 1.00% expense ratio, which is higher than PFM's 0.53% expense ratio.
Dividends
RONB vs. PFM - Dividend Comparison
RONB has not paid dividends to shareholders, while PFM's dividend yield for the trailing twelve months is around 1.36%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PFM Invesco Dividend Achievers™ ETF | 1.36% | 1.41% | 1.58% | 1.86% | 1.95% | 1.69% | 1.92% | 1.94% | 2.27% | 1.70% | 2.56% | 2.36% |
RONB Baron First Principles ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
RONB and PFM have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PFM is cheaper at 0.53% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PFM is cheaper with a 0.53% expense ratio, compared with 1.00% for RONB.
PFM has the higher dividend yield at 1.36%, compared with 0.00% for RONB.
They also come from different issuers: Baron Capital and Invesco. Their fees differ too: 1.00% for RONB and 0.53% for PFM.
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