RXD vs. PJP
RXD (ProShares UltraShort Health Care) and PJP (Invesco Dynamic Pharmaceuticals ETF) are both exchange-traded funds - RXD is a Leveraged Equities fund tracking the DJ Global United States (All) / Health Care -IND (-200%), while PJP is a Health & Biotech Equities fund tracking the Dynamic Pharmaceuticals Intellidex Index. Both are passively managed. Over the past 10 years, RXD returned -19.63%/yr vs 6.97%/yr for PJP. Their -0.74 correlation means they have often moved in opposite directions in the past. RXD charges 0.95%/yr vs 0.58%/yr for PJP.
Performance
RXD vs. PJP - Performance Comparison
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Returns By Period
In the year-to-date period, RXD achieves a -10.24% return, which is significantly lower than PJP's 16.81% return. Over the past 10 years, RXD has underperformed PJP with an annualized return of -19.63%, while PJP has yielded a comparatively higher 6.97% annualized return.
RXD
- 1D
- 0.47%
- 1M
- 0.46%
- 6M
- -10.79%
- YTD
- -10.24%
- 1Y
- -35.49%
- 3Y*
- -10.24%
- 5Y*
- -7.59%
- 10Y*
- -19.63%
- ALL TIME*
- -22.75%
PJP
- 1D
- -1.10%
- 1M
- 0.44%
- 6M
- 16.01%
- YTD
- 16.81%
- 1Y
- 48.98%
- 3Y*
- 17.41%
- 5Y*
- 9.51%
- 10Y*
- 6.97%
- ALL TIME*
- 11.74%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.48M | $7.14M | $3.39M | |
| $208.34K | $158.30K | $97.64K |
RXD vs. PJP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RXD ProShares UltraShort Health Care | -10.24% | -21.66% | 4.83% | 3.25% | 1.20% | -37.97% | -44.25% | -32.44% | -14.33% | -35.24% |
PJP Invesco Dynamic Pharmaceuticals ETF | 16.81% | 27.98% | 9.63% | -2.18% | -2.16% | 14.58% | 11.29% | 4.64% | -1.78% | 15.30% |
Correlation
The correlation between RXD and PJP is -0.78, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.78 |
Correlation (3Y) Balances recent behavior with more history. | -0.76 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.80 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.74 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2007 | -0.74 |
The correlation between RXD and PJP has been stable across timeframes, ranging from -0.80 to -0.74 - a consistent structural relationship.
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Return for Risk
RXD vs. PJP — Risk / Return Rank
RXD
PJP
RXD vs. PJP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Health Care (RXD) and Invesco Dynamic Pharmaceuticals ETF (PJP). 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.
| RXD | PJP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.26 | ||
| Sortino ratioReturn per unit of downside risk | -5.94 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.51 | -0.71 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | 5.53 | -6.42 |
| Martin ratioReturn relative to average drawdown | -1.40 | 17.34 | -18.74 |
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Drawdowns
RXD vs. PJP - Drawdown Comparison
The maximum RXD drawdown since its inception was -99.68%, which is greater than PJP's maximum drawdown of -37.06%. Use the drawdown chart below to compare losses from any high point for RXD and PJP.
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Drawdown Indicators
| RXD | PJP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.68% | -37.06% | -62.62% |
Max Drawdown (1Y)Largest decline over 1 year | -40.79% | -9.44% | -31.35% |
Max Drawdown (3Y)Largest decline over 3 years | -42.58% | -16.27% | -26.31% |
Max Drawdown (5Y)Largest decline over 5 years | -46.11% | -17.51% | -28.60% |
Max Drawdown (10Y)Largest decline over 10 years | -91.52% | -33.95% | -57.57% |
Current DrawdownCurrent decline from peak | -99.67% | -1.10% | -98.57% |
Average DrawdownAverage peak-to-trough decline | -82.00% | -8.79% | -73.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.78% | 3.01% | +22.77% |
Volatility
RXD vs. PJP - Volatility Comparison
ProShares UltraShort Health Care (RXD) has a higher volatility of 11.80% compared to Invesco Dynamic Pharmaceuticals ETF (PJP) at 5.97%. This indicates that RXD's price experiences larger fluctuations and is considered to be riskier than PJP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RXD | PJP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.80% | 5.97% | +5.83% |
Volatility (6M)Calculated over the trailing 6-month period | 24.09% | 13.25% | +10.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.60% | 17.00% | +14.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.35% | 16.37% | +13.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.15% | 18.38% | +14.77% |
RXD vs. PJP - Expense Ratio Comparison
RXD has a 0.95% expense ratio, which is higher than PJP's 0.58% expense ratio.
Dividends
RXD vs. PJP - Dividend Comparison
RXD's dividend yield for the trailing twelve months is around 3.31%, more than PJP's 0.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PJP Invesco Dynamic Pharmaceuticals ETF | 0.88% | 0.98% | 0.97% | 1.01% | 0.95% | 0.81% | 0.75% | 0.77% | 1.12% | 0.65% | 0.91% | 5.49% |
RXD ProShares UltraShort Health Care | 3.31% | 3.29% | 4.36% | 3.17% | 0.67% | 0.00% | 0.17% | 1.73% | 0.22% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
RXD and PJP have a correlation of -0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RXD has higher volatility (11.80%) compared to PJP (5.97%). In terms of maximum drawdown, RXD dropped -99.68% vs PJP's -37.06%.
On 10-year performance, PJP leads with 6.97% vs -19.63% for RXD. On fees, PJP is cheaper at 0.58% per year. On volatility, PJP has been the lower-risk option at 5.97%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PJP has performed better with a 6.97% return vs -19.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PJP is cheaper with a 0.58% expense ratio, compared with 0.95% for RXD.
RXD has the higher dividend yield at 3.31%, compared with 0.88% for PJP.
RXD is categorized as Leveraged Equities, while PJP is Health & Biotech Equities. RXD tracks DJ Global United States (All) / Health Care -IND (-200%), while PJP tracks Dynamic Pharmaceuticals Intellidex Index. They also come from different issuers: ProShares and Invesco. Their fees differ too: 0.95% for RXD and 0.58% for PJP.
PJP currently has the higher Sharpe Ratio (3.10 vs -1.16), 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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