USXF vs. PFM

Last updated Jun 4, 2026

USXF (iShares ESG Advanced MSCI USA ETF) and PFM (Invesco Dividend Achievers™ ETF) are both Large Cap Growth Equities funds - USXF tracks the MSCI USA Choice ESG Screened Index while PFM tracks the NASDAQ US Broad Dividend Achievers Index. Both are passively managed. Over the past 5 years, USXF returned 15.70%/yr vs 10.63%/yr for PFM. Their correlation of 0.80 suggests significant overlap in exposure. USXF charges 0.10%/yr vs 0.53%/yr for PFM.

Performance

USXF vs. PFM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares ESG Advanced MSCI USA ETF (USXF) 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, USXF achieves a 20.76% return, which is significantly higher than PFM's 8.18% return.

USXF

• 1D: -0.51%
• 1M: 10.32%
• YTD: 20.76%
• 6M: 21.06%
• 1Y: 35.21%
• 3Y*: 27.38%
• 5Y*: 15.70%
• 10Y*: —

PFM

• 1D: -0.23%
• 1M: 3.40%
• YTD: 8.18%
• 6M: 7.73%
• 1Y: 19.65%
• 3Y*: 16.31%
• 5Y*: 10.63%
• 10Y*: 11.82%

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

USXF vs. PFM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
USXF iShares ESG Advanced MSCI USA ETF	20.76%	16.97%	26.16%	31.65%	-21.20%	27.14%	24.04%
PFM Invesco Dividend Achievers™ ETF	8.18%	14.00%	16.87%	11.40%	-6.22%	23.08%	16.95%

Correlation

The correlation between USXF and PFM is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (All Time) Calculated using the full available price history since Jun 19, 2020	0.80

The correlation between USXF and PFM shifts across timeframes, from 0.68 (1 year) to 0.82 (5 years), reflecting how their relationship changes across market environments.

USXF vs. PFM - Sectors Allocation Comparison

Sectors	USXF	PFM
Technology	56.6%	24.7%
Financial Services	14.3%	18.5%
Industrials	7.7%	11.1%
Consumer Cyclical	6.3%	4.0%
Healthcare	4.6%	14.9%
Real Estate	3.7%	2.0%
Communication Services	2.2%	1.1%
Basic Materials	2.2%	3.0%
Utilities	1.2%	4.2%
Consumer Defensive	0.9%	12.0%
Energy	0.1%	4.7%

Return for Risk

USXF vs. PFM — Risk / Return Rank

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

USXF

USXF Risk / Return Rank: 66
USXF Sharpe Ratio Rank: 65
USXF Sortino Ratio Rank: 62
USXF Omega Ratio Rank: 62
USXF Calmar Ratio Rank: 69
USXF Martin Ratio Rank: 73

PFM

PFM Risk / Return Rank: 62
PFM Sharpe Ratio Rank: 61
PFM Sortino Ratio Rank: 66
PFM Omega Ratio Rank: 61
PFM Calmar Ratio Rank: 56
PFM Martin Ratio Rank: 63

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.

USXF vs. PFM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares ESG Advanced MSCI USA ETF (USXF) 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.

	USXF	PFM	Difference
Sharpe ratio: Return per unit of total volatility	2.20	2.09	+0.11
Sortino ratio: Return per unit of downside risk	2.95	3.07	-0.12
Omega ratio: Gain probability vs. loss probability	1.38	1.38	+0.01
Calmar ratio: Return relative to maximum drawdown	3.47	2.78	+0.69
Martin ratio: Return relative to average drawdown	13.97	11.28	+2.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USXF vs. PFM - Sharpe Ratio Comparison

The current USXF Sharpe Ratio is 2.20, which is comparable to the PFM Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of USXF 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.

Sharpe Ratios by Period

	USXF	PFM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.20	2.09	+0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	0.79	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.78	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.03	0.53	+0.50

Drawdowns

USXF vs. PFM - Drawdown Comparison

The maximum USXF drawdown since its inception was -29.54%, smaller than the maximum PFM drawdown of -53.21%. Use the drawdown chart below to compare losses from any high point for USXF and PFM.

Drawdown Indicators

	USXF	PFM	Difference
Max Drawdown Largest peak-to-trough decline	-29.54%	-53.21%	+23.67%
Max Drawdown (1Y) Largest decline over 1 year	-10.19%	-7.09%	-3.10%
Max Drawdown (3Y) Largest decline over 3 years	-20.93%	-14.50%	-6.43%
Max Drawdown (5Y) Largest decline over 5 years	-29.54%	-17.81%	-11.73%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.22%	—
Current Drawdown Current decline from peak	-0.51%	-0.23%	-0.28%
Average Drawdown Average peak-to-trough decline	-6.42%	-6.94%	+0.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.53%	1.75%	+0.78%

Volatility

USXF vs. PFM - Volatility Comparison

iShares ESG Advanced MSCI USA ETF (USXF) has a higher volatility of 5.41% compared to Invesco Dividend Achievers™ ETF (PFM) at 2.04%. This indicates that USXF'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

	USXF	PFM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.41%	2.04%	+3.37%
Volatility (6M) Calculated over the trailing 6-month period	12.82%	7.13%	+5.69%
Volatility (1Y) Calculated over the trailing 1-year period	16.13%	9.47%	+6.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.55%	13.54%	+6.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.18%	15.21%	+3.97%

USXF vs. PFM - Expense Ratio Comparison

USXF has a 0.10% expense ratio, which is lower than PFM's 0.53% expense ratio.

Dividends

USXF vs. PFM - Dividend Comparison

USXF's dividend yield for the trailing twelve months is around 0.80%, less than PFM's 1.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PFM Invesco Dividend Achievers™ ETF	1.33%	1.41%	1.58%	1.86%	1.95%	1.69%	1.92%	1.94%	2.27%	1.70%	2.56%	2.36%
USXF iShares ESG Advanced MSCI USA ETF	0.80%	0.93%	1.00%	1.21%	1.39%	0.86%	0.58%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both USXF and PFM in my portfolio?

USXF and PFM have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USXF or PFM?

USXF has higher volatility (5.41%) compared to PFM (2.04%). In terms of maximum drawdown, USXF dropped -29.54% vs PFM's -53.21%.

Which ETF is better, USXF or PFM?

On 5-year performance, USXF leads with 15.70% vs 10.63% for PFM. On fees, USXF is cheaper at 0.10% per year. On volatility, PFM has been the lower-risk option at 2.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, USXF or PFM?

Over the 5-year period, USXF has performed better with a 15.70% return vs 10.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USXF or PFM?

USXF is cheaper with a 0.10% expense ratio, compared with 0.53% for PFM.

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

PFM has the higher dividend yield at 1.33%, compared with 0.80% for USXF.

What is the main difference between USXF and PFM?

USXF tracks MSCI USA Choice ESG Screened Index, while PFM tracks NASDAQ US Broad Dividend Achievers Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.10% for USXF and 0.53% for PFM.

Which has better risk-adjusted returns?

USXF currently has the higher Sharpe Ratio (2.20 vs 2.09), 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.