ULVM vs. PTH

Last updated Jul 14, 2026

ULVM (VictoryShares US Value Momentum ETF) and PTH (Invesco DWA Healthcare Momentum ETF) are both Momentum funds - ULVM tracks the Nasdaq Victory US Value Momentum Index while PTH tracks the Dorsey Wright Healthcare Technical Leaders Index. Both are passively managed. Over the past 5 years, ULVM returned 12.69%/yr vs 2.13%/yr for PTH. A 0.62 correlation means they provide meaningful diversification when combined. ULVM charges 0.20%/yr vs 0.60%/yr for PTH.

Performance

ULVM vs. PTH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VictoryShares US Value Momentum ETF (ULVM) and Invesco DWA Healthcare Momentum ETF (PTH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with ULVM having a 18.66% return and PTH slightly lower at 18.11%.

ULVM

• 1D: 0.39%
• 1M: 1.39%
• 6M: 15.03%
• YTD: 18.66%
• 1Y: 28.23%
• 3Y*: 20.75%
• 5Y*: 12.69%
• 10Y*: —

PTH

• 1D: -2.00%
• 1M: 13.65%
• 6M: 20.08%
• YTD: 18.11%
• 1Y: 59.34%
• 3Y*: 14.43%
• 5Y*: 2.13%
• 10Y*: 14.68%

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

ULVM vs. PTH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ULVM VictoryShares US Value Momentum ETF	18.66%	15.84%	19.76%	10.16%	-9.04%	31.06%	3.51%	22.08%	-12.07%	4.11%
PTH Invesco DWA Healthcare Momentum ETF	18.11%	27.91%	2.36%	-4.54%	-20.61%	-3.20%	67.26%	34.45%	-1.23%	7.43%

Correlation

The correlation between ULVM and PTH is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (All Time) Calculated using the full available price history since Oct 26, 2017	0.62

The correlation between ULVM and PTH shifts across timeframes, from 0.47 (1 year) to 0.62 (all time), reflecting how their relationship changes across market environments.

ULVM vs. PTH - Sectors Allocation Comparison

Sectors	ULVM	PTH
Financial Services	27.5%	1.2%
Healthcare	11.3%	93.6%
Industrials	10.9%	-
Utilities	10.4%	-
Technology	8.9%	-
Consumer Cyclical	7.9%	-
Real Estate	7.1%	-
Consumer Defensive	4.7%	-
Energy	4.7%	-
Basic Materials	3.6%	-
Communication Services	3.1%	-

Return for Risk

ULVM vs. PTH — Risk / Return Rank

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

ULVM

ULVM Risk / Return Rank: 92
ULVM Sharpe Ratio Rank: 93
ULVM Sortino Ratio Rank: 93
ULVM Omega Ratio Rank: 91
ULVM Calmar Ratio Rank: 90
ULVM Martin Ratio Rank: 92

PTH

PTH Risk / Return Rank: 88
PTH Sharpe Ratio Rank: 91
PTH Sortino Ratio Rank: 89
PTH Omega Ratio Rank: 84
PTH Calmar Ratio Rank: 93
PTH Martin Ratio Rank: 82

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.

ULVM vs. PTH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VictoryShares US Value Momentum ETF (ULVM) and Invesco DWA Healthcare Momentum ETF (PTH). 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.

	ULVM	PTH	Difference
Sharpe ratio: Return per unit of total volatility	2.62	2.46	+0.17
Sortino ratio: Return per unit of downside risk	3.70	3.26	+0.44
Omega ratio: Gain probability vs. loss probability	1.46	1.39	+0.07
Calmar ratio: Return relative to maximum drawdown	4.38	4.98	-0.59
Martin ratio: Return relative to average drawdown	18.10	12.59	+5.51

ULVM vs. PTH - Sharpe Ratio Comparison

The current ULVM Sharpe Ratio is 2.62, which is comparable to the PTH Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of ULVM and PTH, 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

ULVM vs. PTH - Drawdown Comparison

The maximum ULVM drawdown since its inception was -40.71%, smaller than the maximum PTH drawdown of -53.52%. Use the drawdown chart below to compare losses from any high point for ULVM and PTH.

Drawdown Indicators

	ULVM	PTH	Difference
Max Drawdown Largest peak-to-trough decline	-40.71%	-53.52%	+12.81%
Max Drawdown (1Y) Largest decline over 1 year	-6.47%	-11.98%	+5.51%
Max Drawdown (3Y) Largest decline over 3 years	-18.14%	-27.74%	+9.60%
Max Drawdown (5Y) Largest decline over 5 years	-19.77%	-50.07%	+30.30%
Max Drawdown (10Y) Largest decline over 10 years	—	-53.52%	—
Current Drawdown Current decline from peak	0.00%	-4.82%	+4.82%
Average Drawdown Average peak-to-trough decline	-5.68%	-16.95%	+11.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.56%	4.73%	-3.17%

Volatility

ULVM vs. PTH - Volatility Comparison

The current volatility for VictoryShares US Value Momentum ETF (ULVM) is 2.84%, while Invesco DWA Healthcare Momentum ETF (PTH) has a volatility of 7.18%. This indicates that ULVM experiences smaller price fluctuations and is considered to be less risky than PTH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ULVM	PTH	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.84%	7.18%	-4.34%
Volatility (6M) Calculated over the trailing 6-month period	8.10%	19.19%	-11.09%
Volatility (1Y) Calculated over the trailing 1-year period	10.83%	24.33%	-13.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.43%	25.67%	-10.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.77%	27.32%	-8.55%

ULVM vs. PTH - Expense Ratio Comparison

ULVM has a 0.20% expense ratio, which is lower than PTH's 0.60% expense ratio.

Dividends

ULVM vs. PTH - Dividend Comparison

ULVM's dividend yield for the trailing twelve months is around 1.63%, less than PTH's 2.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
PTH Invesco DWA Healthcare Momentum ETF	2.60%	3.07%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ULVM VictoryShares US Value Momentum ETF	1.63%	1.81%	1.57%	1.94%	1.91%	1.36%	1.51%	1.88%	1.67%	0.38%

Frequently Asked Questions

Can I hold both ULVM and PTH in my portfolio?

ULVM and PTH have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ULVM or PTH?

PTH has higher volatility (7.18%) compared to ULVM (2.84%). In terms of maximum drawdown, ULVM dropped -40.71% vs PTH's -53.52%.

Which ETF is better, ULVM or PTH?

On 5-year performance, ULVM leads with 12.69% vs 2.13% for PTH. On fees, ULVM is cheaper at 0.20% per year. On volatility, ULVM has been the lower-risk option at 2.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ULVM or PTH?

Over the 5-year period, ULVM has performed better with a 12.69% return vs 2.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ULVM or PTH?

ULVM is cheaper with a 0.20% expense ratio, compared with 0.60% for PTH.

Which ETF pays a higher dividend yield, ULVM or PTH?

PTH has the higher dividend yield at 2.60%, compared with 1.63% for ULVM.

What is the main difference between ULVM and PTH?

ULVM tracks Nasdaq Victory US Value Momentum Index, while PTH tracks Dorsey Wright Healthcare Technical Leaders Index. They also come from different issuers: Victory Capital and Invesco. Their fees differ too: 0.20% for ULVM and 0.60% for PTH.

Which has better risk-adjusted returns?

ULVM currently has the higher Sharpe Ratio (2.62 vs 2.46), 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.