RPG vs. PFM

Last updated Jun 5, 2026

RPG (Invesco S&P 500 Pure Growth ETF) and PFM (Invesco Dividend Achievers™ ETF) are both Large Cap Growth Equities funds from Invesco - RPG tracks the S&P 500/Citigroup Pure Growth Index while PFM tracks the NASDAQ US Broad Dividend Achievers Index. Both are passively managed. Over the past 10 years, RPG returned 14.66%/yr vs 11.82%/yr for PFM. A 0.78 correlation means they provide meaningful diversification when combined. RPG charges 0.35%/yr vs 0.53%/yr for PFM.

Performance

RPG vs. PFM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Pure Growth ETF (RPG) and Invesco Dividend Achievers™ ETF (PFM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RPG achieves a 30.18% return, which is significantly higher than PFM's 8.52% return. Over the past 10 years, RPG has outperformed PFM with an annualized return of 14.66%, while PFM has yielded a comparatively lower 11.82% annualized return.

RPG

• 1D: -1.01%
• 1M: 8.23%
• YTD: 30.18%
• 6M: 30.19%
• 1Y: 39.84%
• 3Y*: 28.04%
• 5Y*: 12.79%
• 10Y*: 14.66%

PFM

• 1D: 0.32%
• 1M: 2.96%
• YTD: 8.52%
• 6M: 8.38%
• 1Y: 20.19%
• 3Y*: 16.54%
• 5Y*: 10.71%
• 10Y*: 11.82%

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

RPG vs. PFM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RPG Invesco S&P 500 Pure Growth ETF	30.18%	13.41%	28.23%	8.04%	-27.55%	29.40%	29.34%	28.34%	-4.53%	26.20%
PFM Invesco Dividend Achievers™ ETF	8.52%	14.00%	16.87%	11.40%	-6.22%	23.08%	9.53%	26.88%	-4.58%	17.65%

Correlation

The correlation between RPG and PFM is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Mar 8, 2006	0.78

The correlation between RPG and PFM shifts across timeframes, from 0.67 (1 year) to 0.78 (all time), reflecting how their relationship changes across market environments.

RPG vs. PFM - Sectors Allocation Comparison

Sectors	RPG	PFM
Technology	39.6%	24.7%
Industrials	17.6%	11.1%
Consumer Cyclical	17.1%	4.0%
Communication Services	8.8%	1.1%
Healthcare	7.0%	14.9%
Financial Services	5.2%	18.5%
Basic Materials	1.5%	3.0%
Energy	1.4%	4.7%
Utilities	1.1%	4.2%
Real Estate	1.1%	2.0%
Consumer Defensive	1.1%	12.0%

Return for Risk

RPG vs. PFM — Risk / Return Rank

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

RPG

RPG Risk / Return Rank: 65
RPG Sharpe Ratio Rank: 61
RPG Sortino Ratio Rank: 59
RPG Omega Ratio Rank: 58
RPG Calmar Ratio Rank: 73
RPG Martin Ratio Rank: 75

PFM

PFM Risk / Return Rank: 65
PFM Sharpe Ratio Rank: 66
PFM Sortino Ratio Rank: 70
PFM Omega Ratio Rank: 66
PFM Calmar Ratio Rank: 58
PFM Martin Ratio Rank: 65

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.

RPG vs. PFM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Pure Growth ETF (RPG) 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.

	RPG	PFM	Difference
Sharpe ratio: Return per unit of total volatility	2.03	2.14	-0.12
Sortino ratio: Return per unit of downside risk	2.74	3.15	-0.40
Omega ratio: Gain probability vs. loss probability	1.35	1.39	-0.04
Calmar ratio: Return relative to maximum drawdown	3.61	2.86	+0.76
Martin ratio: Return relative to average drawdown	14.13	11.59	+2.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RPG vs. PFM - Sharpe Ratio Comparison

The current RPG Sharpe Ratio is 2.03, which is comparable to the PFM Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of RPG and PFM, 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

	RPG	PFM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.03	2.14	-0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.79	-0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.65	0.78	-0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.53	+0.01

Drawdowns

RPG vs. PFM - Drawdown Comparison

The maximum RPG drawdown since its inception was -53.27%, roughly equal to the maximum PFM drawdown of -53.21%. Use the drawdown chart below to compare losses from any high point for RPG and PFM.

Drawdown Indicators

	RPG	PFM	Difference
Max Drawdown Largest peak-to-trough decline	-53.27%	-53.21%	-0.06%
Max Drawdown (1Y) Largest decline over 1 year	-11.08%	-7.09%	-3.99%
Max Drawdown (3Y) Largest decline over 3 years	-24.75%	-14.50%	-10.25%
Max Drawdown (5Y) Largest decline over 5 years	-35.59%	-17.81%	-17.78%
Max Drawdown (10Y) Largest decline over 10 years	-36.58%	-32.22%	-4.36%
Current Drawdown Current decline from peak	-1.01%	0.00%	-1.01%
Average Drawdown Average peak-to-trough decline	-8.84%	-6.94%	-1.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.83%	1.75%	+1.08%

Volatility

RPG vs. PFM - Volatility Comparison

Invesco S&P 500 Pure Growth ETF (RPG) has a higher volatility of 6.41% compared to Invesco Dividend Achievers™ ETF (PFM) at 1.95%. This indicates that RPG's price experiences larger fluctuations and is considered to be riskier than PFM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RPG	PFM	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.41%	1.95%	+4.46%
Volatility (6M) Calculated over the trailing 6-month period	16.31%	7.13%	+9.18%
Volatility (1Y) Calculated over the trailing 1-year period	19.74%	9.46%	+10.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.43%	13.54%	+9.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.70%	15.20%	+7.50%

RPG vs. PFM - Expense Ratio Comparison

RPG has a 0.35% expense ratio, which is lower than PFM's 0.53% expense ratio.

Dividends

RPG vs. PFM - Dividend Comparison

RPG's dividend yield for the trailing twelve months is around 0.17%, less than PFM's 1.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PFM Invesco Dividend Achievers™ ETF	1.33%	1.41%	1.58%	1.86%	1.95%	1.69%	1.92%	1.94%	2.27%	1.70%	2.56%	2.36%
RPG Invesco S&P 500 Pure Growth ETF	0.17%	0.24%	0.25%	1.44%	0.74%	0.00%	0.46%	0.83%	0.47%	0.56%	0.43%	0.73%

Frequently Asked Questions

Can I hold both RPG and PFM in my portfolio?

RPG and PFM have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RPG or PFM?

RPG has higher volatility (6.41%) compared to PFM (1.95%). In terms of maximum drawdown, RPG dropped -53.27% vs PFM's -53.21%.

Which ETF is better, RPG or PFM?

On 10-year performance, RPG leads with 14.66% vs 11.82% for PFM. On fees, RPG is cheaper at 0.35% per year. On volatility, PFM has been the lower-risk option at 1.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RPG or PFM?

Over the 10-year period, RPG has performed better with a 14.66% return vs 11.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RPG or PFM?

RPG is cheaper with a 0.35% expense ratio, compared with 0.53% for PFM.

Which ETF pays a higher dividend yield, RPG or PFM?

PFM has the higher dividend yield at 1.33%, compared with 0.17% for RPG.

What is the main difference between RPG and PFM?

RPG tracks S&P 500/Citigroup Pure Growth Index, while PFM tracks NASDAQ US Broad Dividend Achievers Index. Their fees differ too: 0.35% for RPG and 0.53% for PFM.

Which has better risk-adjusted returns?

PFM currently has the higher Sharpe Ratio (2.14 vs 2.03), 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.