Invesco WilderHill Clean Energy ETF (PBW) Performance
PBW total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −18.3% since Dec 31, 2025
- 1 year
- −22.5% total return
- 5 years
- −19.1% a year
- 10 years
- +4.6% a year
- Since first price
- −3.7% a year since 2005
PBW trailing returns vs SPY, QQQ, AGG
| Period | PBW total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −19.4% | −19.4% | −1.0% | −5.0% | +0.9% |
| 3 months | −25.4% | −26.1% | +3.2% | +1.9% | −0.4% |
| 6 months | −33.1% | −34.0% | +7.8% | +8.4% | −1.5% |
| YTD | −18.3% | −19.6% | +12.3% | +15.1% | −1.0% |
| 1 year | −22.5% | −24.0% | +14.4% | +15.9% | −1.1% |
| 3 years | −0.0%−0.0%/yr | −5.7% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | −65.4%−19.1%/yr | −69.4% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +56.3%+4.6%/yr | +28.2% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +20.0%+1.2%/yr | −13.5% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| 20 years | −61.1%−4.6%/yr | −72.4% | +696.9%+10.9%/yr | +1,839.9%+16.0%/yr | +79.6%+3.0%/yr |
| Since inceptionMar 3, 2005 | −55.6%−3.7%/yr | −68.5% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: PBW vs SPY
From Mar 3, 2005: PBW grew to $4,439, SPY to $93,144.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
PBW returns by calendar year
8 of 20 full years positive. Best 2020 (+204.8%), worst 2008 (−68.9%). 2026 is year to date.
PBW annual returns table
| Year | PBW | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −18.3% | −47.0% | +12.3% | +15.1% | −1.0% |
| 2025 | +54.0% | −40.3% | +17.7% | +20.8% | +7.2% |
| 2024 | −30.8% | −37.7% | +24.9% | +25.6% | +1.3% |
| 2023 | −20.0% | −47.8% | +26.2% | +54.9% | +5.7% |
| 2022 | −44.6% | −48.6% | −18.2% | −32.6% | −13.0% |
| 2021 | −29.9% | −48.6% | +28.7% | +27.4% | −1.8% |
| 2020 | +204.8% | −48.9% | +18.3% | +48.6% | +7.5% |
| 2019 | +62.6% | −10.0% | +31.2% | +39.0% | +8.5% |
| 2018 | −13.5% | −24.0% | −4.6% | −0.1% | +0.1% |
| 2017 | +39.9% | −7.2% | +21.7% | +32.7% | +3.6% |
| 2016 | −20.3% | −23.7% | +12.0% | +7.1% | +2.4% |
| 2015 | −8.8% | −32.5% | +1.2% | +9.4% | +0.5% |
| 2014 | −15.4% | −35.9% | +13.5% | +19.2% | +6.0% |
| 2013 | +60.5% | −13.6% | +32.3% | +36.6% | −2.0% |
| 2012 | −16.5% | −43.2% | +16.0% | +18.1% | +3.8% |
| 2011 | −50.3% | −56.4% | +1.9% | +3.4% | +7.7% |
| 2010 | −5.5% | −31.3% | +15.1% | +19.9% | +6.4% |
| 2009 | +27.6% | −37.6% | +26.4% | +54.7% | +3.0% |
| 2008 | −68.9% | −77.4% | −36.8% | −41.7% | +7.9% |
| 2007 | +59.9% | −14.4% | +5.1% | +19.0% | +6.6% |
| 2006 | +7.3% | −31.1% | +15.8% | +7.1% | +3.9% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
PBW largest drawdowns
Now 79.4% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 9, 2021 | −89.0% | Apr 8, 2025 | not yet | 4.2 years | 5.7 years so far |
| Dec 26, 2007 | −87.0% | Nov 16, 2012 | Jan 7, 2021 | 4.9 years | 13.0 years |
| May 8, 2006 | −31.1% | Sep 22, 2006 | Oct 5, 2007 | 5 months | 1.4 years |
| Mar 7, 2005 | −18.9% | May 13, 2005 | Jul 26, 2005 | 2 months | 5 months |
| Sep 12, 2005 | −17.6% | Oct 27, 2005 | Jan 19, 2006 | 45 days | 4 months |
| Nov 8, 2007 | −14.4% | Nov 21, 2007 | Dec 10, 2007 | 13 days | 32 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
PBW risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2005 |
|---|---|---|---|---|
| Annualized return | −0.6% | −15.7% | +6.2% | −2.6% |
| Volatility (annualized) | 39.8% | 42.1% | 39.4% | 35.4% |
| Sharpe ratio | 0.07 | -0.28 | 0.29 | — |
| Sortino ratio | 0.10 | -0.38 | 0.45 | — |
| Best month | +21.1% | +22.4% | +45.1% | +45.1% |
| Worst month | −20.5% | −21.8% | −28.4% | −33.5% |
| Best 12 months | +156.4% | +156.4% | +269.1% | +269.1% |
| Worst 12 months | −34.7% | −49.2% | −52.0% | −68.9% |
| Positive months | 47% | 47% | 54% | 53% |
| Beta vs S&P 500 | 2.07 | 1.83 | 1.66 | — |
| Correlation with S&P 500 | 0.65 | 0.68 | 0.65 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
PBW rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 248 | −68.9% | −2.9% | +269.1% | 49% |
| 3-year (a year) | 224 | −40.2% | −7.8% | +71.7% | 39% |
| 5-year (a year) | 200 | −31.1% | −5.3% | +45.3% | 36% |
| 10-year (a year) | 140 | −14.5% | −1.6% | +14.3% | 42% |
Every holding period starting at a month-end since 2005. Returns for 3 years and longer are annualized.
PBW performance overview
Invesco WilderHill Clean Energy ETF (PBW) returned −22.5% over the past year and +4.6% a year over ten years, with distributions reinvested. Since its first recorded price in 2005 it has returned −3.7% a year, turning $10,000 into about $4,439. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −89.0%, from Feb 9, 2021 to Apr 8, 2025; the fund has not yet regained that high. PBW finished 8 of its 20 full calendar years with a gain; the best year was 2020 (+204.8%) and the worst 2008 (−68.9%). Volatility has been 35.4% a year.
Related: PBW chart, PBW holdings, PBW dividends. See the PBW overview for the latest quote and fund facts.
PBW performance FAQ
What is the PBW return over the past year?
PBW returned −22.5% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 24.0%.
What is the average annual return of PBW?
PBW has returned −19.1% a year over 5 years, +4.6% a year over 10 years, −3.7% a year since March 3, 2005 (total return, distributions reinvested).
How much would $10,000 invested in PBW be worth?
$10,000 invested in PBW at its first recorded close on March 3, 2005 would be worth about $4,439 on October 23, 2026 with distributions reinvested.
What was the worst year for PBW?
The worst calendar year was 2008, with a total return of −68.9%. The best was 2020 at +204.8%.
What is the biggest drawdown of PBW?
The largest peak-to-trough decline was −89.0% between February 9, 2021 and April 8, 2025. It has not yet recovered to that high; it is 79.4% below its peak.
How volatile is PBW?
Over the past 3 years PBW had an annualized volatility of 39.8% and a Sharpe ratio of 0.07 (excess return over 1–3 month T-bills per unit of risk).