TFNS vs. PFI

Last updated Jun 4, 2026

TFNS (T. Rowe Price Financials ETF) and PFI (Invesco Dorsey Wright Financial Momentum ETF) are both exchange-traded funds - TFNS is a Financials Equities fund actively managed by T. Rowe Price, while PFI is a Momentum fund tracking the Dorsey Wright Financials Technical Leaders Index. TFNS is actively managed, while PFI is passively managed. Their correlation of 0.84 suggests significant overlap in exposure. TFNS charges 0.44%/yr vs 0.60%/yr for PFI.

Performance

TFNS vs. PFI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Financials ETF (TFNS) and Invesco Dorsey Wright Financial Momentum ETF (PFI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TFNS achieves a -5.36% return, which is significantly lower than PFI's -0.47% return.

TFNS

• 1D: -1.39%
• 1M: -1.27%
• YTD: -5.36%
• 6M: -2.12%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PFI

• 1D: -1.16%
• 1M: -0.53%
• YTD: -0.47%
• 6M: -0.09%
• 1Y: 3.58%
• 3Y*: 14.30%
• 5Y*: 3.64%
• 10Y*: 8.32%

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

TFNS vs. PFI - Yearly Performance Comparison

	2026 (YTD)	2025
TFNS T. Rowe Price Financials ETF	-5.36%	10.41%
PFI Invesco Dorsey Wright Financial Momentum ETF	-0.47%	4.22%

Correlation

The correlation between TFNS and PFI is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 13, 2025	0.84

TFNS vs. PFI - Sectors Allocation Comparison

Sectors	TFNS	PFI
Financial Services	97.1%	80.7%
Technology	1.9%	-
Industrials	0.9%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Real Estate	-	19.3%
Utilities	-	-

Return for Risk

TFNS vs. PFI — Risk / Return Rank

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

PFI

PFI Risk / Return Rank: 11
PFI Sharpe Ratio Rank: 11
PFI Sortino Ratio Rank: 11
PFI Omega Ratio Rank: 11
PFI Calmar Ratio Rank: 12
PFI Martin Ratio Rank: 12

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.

TFNS vs. PFI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Financials ETF (TFNS) and Invesco Dorsey Wright Financial Momentum ETF (PFI). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TFNS	PFI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.19	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.17	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.38	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.25	+0.06

Drawdowns

TFNS vs. PFI - Drawdown Comparison

The maximum TFNS drawdown since its inception was -14.00%, smaller than the maximum PFI drawdown of -59.53%. Use the drawdown chart below to compare losses from any high point for TFNS and PFI.

Drawdown Indicators

	TFNS	PFI	Difference
Max Drawdown Largest peak-to-trough decline	-14.00%	-59.53%	+45.53%
Max Drawdown (1Y) Largest decline over 1 year	—	-13.86%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-24.82%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-35.43%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-43.09%	—
Current Drawdown Current decline from peak	-8.00%	-7.98%	-0.02%
Average Drawdown Average peak-to-trough decline	-3.82%	-14.50%	+10.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.62%	—

Volatility

Volatility by Period

	TFNS	PFI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.29%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.69%	—
Volatility (1Y) Calculated over the trailing 1-year period	15.04%	18.78%	-3.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.04%	21.94%	-6.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.04%	22.24%	-7.20%

TFNS vs. PFI - Expense Ratio Comparison

TFNS has a 0.44% expense ratio, which is lower than PFI's 0.60% expense ratio.

Dividends

TFNS vs. PFI - Dividend Comparison

TFNS's dividend yield for the trailing twelve months is around 0.52%, less than PFI's 0.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PFI Invesco Dorsey Wright Financial Momentum ETF	0.72%	0.68%	2.77%	1.85%	1.93%	1.28%	1.56%	0.92%	1.98%	0.35%	2.16%	1.44%
TFNS T. Rowe Price Financials ETF	0.52%	0.49%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TFNS and PFI in my portfolio?

TFNS and PFI have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TFNS or PFI?

On fees, TFNS is cheaper at 0.44% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TFNS or PFI?

TFNS is cheaper with a 0.44% expense ratio, compared with 0.60% for PFI.

Which ETF pays a higher dividend yield, TFNS or PFI?

PFI has the higher dividend yield at 0.72%, compared with 0.52% for TFNS.

What is the main difference between TFNS and PFI?

TFNS is categorized as Financials Equities, while PFI is Momentum. They also come from different issuers: T. Rowe Price and Invesco. Their fees differ too: 0.44% for TFNS and 0.60% for PFI.