SMLD.DE vs. PGX
Compare and contrast key facts about Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.DE) and Invesco Preferred ETF (PGX).
SMLD.DE and PGX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SMLD.DE is a passively managed fund by Invesco that tracks the performance of the Morningstar MLP Composite. It was launched on May 15, 2013. PGX is a passively managed fund by Invesco that tracks the performance of the BofA Merrill Lynch Core Fixed Rate Preferred Securities Index. It was launched on Jan 31, 2008. Both SMLD.DE and PGX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SMLD.DE or PGX.
Key characteristics
| SMLD.DE | PGX | |
|---|---|---|
| YTD Return | 23.83% | 11.46% |
| 1Y Return | 22.45% | 19.40% |
| 3Y Return (Ann) | 23.50% | -0.85% |
| 5Y Return (Ann) | 14.78% | 1.53% |
| 10Y Return (Ann) | 1.24% | 3.84% |
| Sharpe Ratio | 1.01 | 2.13 |
| Sortino Ratio | 1.58 | 3.06 |
| Omega Ratio | 1.25 | 1.38 |
| Calmar Ratio | 1.28 | 1.03 |
| Martin Ratio | 5.59 | 10.44 |
| Ulcer Index | 3.96% | 1.94% |
| Daily Std Dev | 21.77% | 9.50% |
| Max Drawdown | -82.32% | -66.43% |
| Current Drawdown | -2.88% | -4.07% |
Correlation
The correlation between SMLD.DE and PGX is 0.20, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
SMLD.DE vs. PGX - Performance Comparison
In the year-to-date period, SMLD.DE achieves a 23.83% return, which is significantly higher than PGX's 11.46% return. Over the past 10 years, SMLD.DE has underperformed PGX with an annualized return of 1.24%, while PGX has yielded a comparatively higher 3.84% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SMLD.DE vs. PGX - Expense Ratio Comparison
SMLD.DE has a 0.50% expense ratio, which is lower than PGX's 0.52% expense ratio.
Risk-Adjusted Performance
SMLD.DE vs. PGX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.DE) and Invesco Preferred ETF (PGX). 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.
Dividends
SMLD.DE vs. PGX - Dividend Comparison
SMLD.DE's dividend yield for the trailing twelve months is around 6.71%, more than PGX's 5.77% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 6.71% | 9.52% | 8.51% | 9.70% | 13.38% | 11.07% | 11.70% | 9.79% | 8.57% | 10.81% | 8.01% | 2.47% |
PGX Invesco Preferred ETF | 5.77% | 6.42% | 6.29% | 4.82% | 4.89% | 5.30% | 6.08% | 5.66% | 6.02% | 5.84% | 5.98% | 6.78% |
Drawdowns
SMLD.DE vs. PGX - Drawdown Comparison
The maximum SMLD.DE drawdown since its inception was -82.32%, which is greater than PGX's maximum drawdown of -66.43%. Use the drawdown chart below to compare losses from any high point for SMLD.DE and PGX. For additional features, visit the drawdowns tool.
Volatility
SMLD.DE vs. PGX - Volatility Comparison
Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.DE) has a higher volatility of 3.71% compared to Invesco Preferred ETF (PGX) at 3.32%. This indicates that SMLD.DE's price experiences larger fluctuations and is considered to be riskier than PGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.