TSEL vs. PFM

Last updated Aug 2, 2026

TSEL (Touchstone Sands Capital US Select Growth ETF) and PFM (Invesco Dividend Achievers™ ETF) are both Large Cap Growth Equities funds. TSEL is actively managed, while PFM is passively managed. Over the past year, TSEL returned -2.29% vs 19.09% for PFM. Their 0.45 correlation means their historical movements had little consistent relationship. TSEL charges 0.67%/yr vs 0.53%/yr for PFM.

Performance

TSEL vs. PFM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Touchstone Sands Capital US Select Growth ETF (TSEL) 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, TSEL achieves a -2.19% return, which is significantly lower than PFM's 10.31% return.

TSEL

• 1D: 0.86%
• 1M: -2.77%
• 6M: 2.42%
• YTD: -2.19%
• 1Y: -2.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.22%

PFM

• 1D: -0.21%
• 1M: 0.84%
• 6M: 7.70%
• YTD: 10.31%
• 1Y: 19.09%
• 3Y*: 14.88%
• 5Y*: 10.64%
• 10Y*: 11.60%
• ALL TIME*: 8.77%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PFM Invesco Dividend Achievers™ ETF	$817.02K	$841.17K	$978.32K
TSEL Touchstone Sands Capital US Select Growth ETF	$148.20K	$176.52K	$1.25M

TSEL vs. PFM - Yearly Performance Comparison

	2026 (YTD)	2025
TSEL Touchstone Sands Capital US Select Growth ETF	-2.19%	12.41%
PFM Invesco Dividend Achievers™ ETF	10.31%	14.37%

Correlation

The correlation between TSEL and PFM is 0.40, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.40
Correlation (All Time) Calculated using the full available price history since Jan 3, 2025	0.45

Return for Risk

TSEL vs. PFM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TSEL

TSEL Risk / Return Rank: 8
TSEL Sharpe Ratio Rank: 8
TSEL Sortino Ratio Rank: 8
TSEL Omega Ratio Rank: 8
TSEL Calmar Ratio Rank: 8
TSEL Martin Ratio Rank: 8

PFM

PFM Risk / Return Rank: 81
PFM Sharpe Ratio Rank: 83
PFM Sortino Ratio Rank: 85
PFM Omega Ratio Rank: 82
PFM Calmar Ratio Rank: 74
PFM Martin Ratio Rank: 81

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TSEL vs. PFM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Touchstone Sands Capital US Select Growth ETF (TSEL) 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.

	TSEL	PFM	Difference
Sharpe ratio: Return per unit of total volatility	-0.23	1.92	-2.15
Sortino ratio: Return per unit of downside risk	-0.16	2.81	-2.97
Omega ratio: Gain probability vs. loss probability	0.98	1.35	-0.37
Calmar ratio: Return relative to maximum drawdown	-0.22	2.57	-2.79
Martin ratio: Return relative to average drawdown	-0.51	10.53	-11.04

TSEL vs. PFM - Sharpe Ratio Comparison

The current TSEL Sharpe Ratio is -0.23, which is lower than the PFM Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of TSEL 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.

Drawdowns

TSEL vs. PFM - Drawdown Comparison

The maximum TSEL drawdown since its inception was -28.95%, smaller than the maximum PFM drawdown of -53.21%. Use the drawdown chart below to compare losses from any high point for TSEL and PFM.

Drawdown Indicators

	TSEL	PFM	Difference
Max Drawdown Largest peak-to-trough decline	-28.95%	-53.21%	+24.26%
Max Drawdown (1Y) Largest decline over 1 year	-23.47%	-7.09%	-16.38%
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 Drawdown Current decline from peak	-10.40%	-1.00%	-9.40%
Average Drawdown Average peak-to-trough decline	-8.22%	-6.89%	-1.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.02%	1.73%	+8.29%

Volatility

TSEL vs. PFM - Volatility Comparison

Touchstone Sands Capital US Select Growth ETF (TSEL) has a higher volatility of 8.21% compared to Invesco Dividend Achievers™ ETF (PFM) at 2.60%. This indicates that TSEL'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

	TSEL	PFM	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.21%	2.60%	+5.61%
Volatility (6M) Calculated over the trailing 6-month period	18.23%	7.11%	+11.12%
Volatility (1Y) Calculated over the trailing 1-year period	22.63%	9.52%	+13.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.02%	13.47%	+13.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.02%	15.18%	+11.84%

TSEL vs. PFM - Expense Ratio Comparison

TSEL has a 0.67% expense ratio, which is higher than PFM's 0.53% expense ratio.

Dividends

TSEL vs. PFM - Dividend Comparison

TSEL has not paid dividends to shareholders, while PFM's dividend yield for the trailing twelve months is around 1.32%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PFM Invesco Dividend Achievers™ ETF	1.32%	1.41%	1.58%	1.86%	1.95%	1.69%	1.92%	1.94%	2.27%	1.70%	2.56%	2.36%
TSEL Touchstone Sands Capital US Select Growth 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

Can I hold both TSEL and PFM in my portfolio?

TSEL and PFM have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSEL or PFM?

TSEL has higher volatility (8.21%) compared to PFM (2.60%). In terms of maximum drawdown, TSEL dropped -28.95% vs PFM's -53.21%.

Which ETF is better, TSEL or PFM?

On 1-year performance, PFM leads with 19.09% vs -2.29% for TSEL. On fees, PFM is cheaper at 0.53% per year. On volatility, PFM has been the lower-risk option at 2.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSEL or PFM?

Over the 1-year period, PFM has performed better with a 19.09% return vs -2.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSEL or PFM?

PFM is cheaper with a 0.53% expense ratio, compared with 0.67% for TSEL.

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

PFM has the higher dividend yield at 1.32%, compared with 0.00% for TSEL.

What is the main difference between TSEL and PFM?

They also come from different issuers: Touchstone and Invesco. Their fees differ too: 0.67% for TSEL and 0.53% for PFM.

Which has better risk-adjusted returns?

PFM currently has the higher Sharpe Ratio (1.92 vs -0.23), 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.