ZAP vs. PUI
ZAP (Global X U.S. Electrification ETF) and PUI (Invesco DWA Utilities Momentum ETF) are both exchange-traded funds - ZAP is a Utilities Equities fund tracking the Global X U.S. Electrification Index, while PUI is a Momentum fund tracking the DWA Utilities Technical Leaders Index. Both are passively managed. Over the past year, ZAP returned 28.84% vs 11.74% for PUI. Their correlation of 0.90 suggests significant overlap in exposure. ZAP charges 0.50%/yr vs 0.60%/yr for PUI.
Performance
ZAP vs. PUI - Performance Comparison
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Returns By Period
In the year-to-date period, ZAP achieves a 15.14% return, which is significantly higher than PUI's 6.30% return.
ZAP
- 1D
- -0.63%
- 1M
- -3.98%
- YTD
- 15.14%
- 6M
- 13.19%
- 1Y
- 28.84%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PUI
- 1D
- -0.49%
- 1M
- -4.33%
- YTD
- 6.30%
- 6M
- 3.12%
- 1Y
- 11.74%
- 3Y*
- 15.24%
- 5Y*
- 8.55%
- 10Y*
- 8.33%
ZAP vs. PUI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ZAP Global X U.S. Electrification ETF | 15.14% | 21.84% | 1.26% |
PUI Invesco DWA Utilities Momentum ETF | 6.30% | 15.25% | 1.44% |
Correlation
The correlation between ZAP and PUI is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2024 | 0.90 |
The correlation between ZAP and PUI has been stable across timeframes, ranging from 0.90 to 0.90 - a consistent structural relationship.
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Return for Risk
ZAP vs. PUI — Risk / Return Rank
ZAP
PUI
ZAP vs. PUI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X U.S. Electrification ETF (ZAP) and Invesco DWA Utilities Momentum ETF (PUI). 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.
| ZAP | PUI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.13 | ||
| Sortino ratioReturn per unit of downside risk | +1.47 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.14 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 4.01 | 1.07 | +2.94 |
| Martin ratioReturn relative to average drawdown | 10.25 | 2.48 | +7.78 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ZAP | PUI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.92 | 0.79 | +1.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.52 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.44 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.63 | 0.45 | +1.18 |
Drawdowns
ZAP vs. PUI - Drawdown Comparison
The maximum ZAP drawdown since its inception was -12.38%, smaller than the maximum PUI drawdown of -43.20%. Use the drawdown chart below to compare losses from any high point for ZAP and PUI.
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Drawdown Indicators
| ZAP | PUI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.38% | -43.20% | +30.82% |
Max Drawdown (1Y)Largest decline over 1 year | -7.23% | -11.07% | +3.84% |
Max Drawdown (3Y)Largest decline over 3 years | — | -15.28% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -23.47% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.61% | — |
Current DrawdownCurrent decline from peak | -4.11% | -5.33% | +1.22% |
Average DrawdownAverage peak-to-trough decline | -2.57% | -8.46% | +5.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.83% | 4.76% | -1.93% |
Volatility
ZAP vs. PUI - Volatility Comparison
Global X U.S. Electrification ETF (ZAP) has a higher volatility of 6.28% compared to Invesco DWA Utilities Momentum ETF (PUI) at 5.31%. This indicates that ZAP's price experiences larger fluctuations and is considered to be riskier than PUI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZAP | PUI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.28% | 5.31% | +0.97% |
Volatility (6M)Calculated over the trailing 6-month period | 11.74% | 11.14% | +0.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.13% | 14.96% | +0.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.91% | 16.67% | +0.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.91% | 19.07% | -2.16% |
ZAP vs. PUI - Expense Ratio Comparison
ZAP has a 0.50% expense ratio, which is lower than PUI's 0.60% expense ratio.
Dividends
ZAP vs. PUI - Dividend Comparison
ZAP's dividend yield for the trailing twelve months is around 1.55%, less than PUI's 2.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PUI Invesco DWA Utilities Momentum ETF | 2.11% | 2.22% | 2.06% | 2.36% | 2.16% | 2.03% | 2.42% | 2.02% | 1.87% | 2.98% | 3.35% | 2.82% |
ZAP Global X U.S. Electrification ETF | 1.55% | 1.81% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZAP and PUI have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ZAP has higher volatility (6.28%) compared to PUI (5.31%). In terms of maximum drawdown, ZAP dropped -12.38% vs PUI's -43.20%.
On 1-year performance, ZAP leads with 28.84% vs 11.74% for PUI. On fees, ZAP is cheaper at 0.50% per year. On volatility, PUI has been the lower-risk option at 5.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ZAP has performed better with a 28.84% return vs 11.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ZAP is cheaper with a 0.50% expense ratio, compared with 0.60% for PUI.
PUI has the higher dividend yield at 2.11%, compared with 1.55% for ZAP.
ZAP is categorized as Utilities Equities, while PUI is Momentum. ZAP tracks Global X U.S. Electrification Index, while PUI tracks DWA Utilities Technical Leaders Index. They also come from different issuers: Global X and Invesco. Their fees differ too: 0.50% for ZAP and 0.60% for PUI.
ZAP currently has the higher Sharpe Ratio (1.92 vs 0.79), 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.
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