Invesco Dynamic Pharmaceuticals ETF (PJP) Performance
PJP total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +20.6% since Dec 31, 2025
- 1 year
- +32.9% total return
- 5 years
- +10.9% a year
- 10 years
- +8.9% a year
- Since first price
- +11.8% a year since 2005
PJP trailing returns vs SPY, QQQ, AGG
| Period | PJP total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −0.3% | −0.3% | −1.0% | −5.0% | +0.9% |
| 3 months | +4.3% | +4.0% | +3.2% | +1.9% | −0.4% |
| 6 months | +19.9% | +19.3% | +7.8% | +8.4% | −1.5% |
| YTD | +20.6% | +19.6% | +12.3% | +15.1% | −1.0% |
| 1 year | +32.9% | +31.5% | +14.4% | +15.9% | −1.1% |
| 3 years | +85.2%+22.8%/yr | +79.4% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +67.5%+10.9%/yr | +59.1% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +134.3%+8.9%/yr | +112.9% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +491.5%+12.6%/yr | +380.9% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| 20 years | +787.2%+11.5%/yr | +592.7% | +696.9%+10.9%/yr | +1,839.9%+16.0%/yr | +79.6%+3.0%/yr |
| Since inceptionJun 23, 2005 | +982.8%+11.8%/yr | +742.0% | — | — | — |
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: PJP vs SPY
From Jun 23, 2005: PJP grew to $108,279, SPY to $93,456.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
PJP returns by calendar year
15 of 20 full years positive. Best 2013 (+55.7%), worst 2016 (−19.2%). 2026 is year to date.
PJP annual returns table
| Year | PJP | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +20.6% | −9.4% | +12.3% | +15.1% | −1.0% |
| 2025 | +28.0% | −14.3% | +17.7% | +20.8% | +7.2% |
| 2024 | +9.6% | −8.1% | +24.9% | +25.6% | +1.3% |
| 2023 | −2.2% | −15.2% | +26.2% | +54.9% | +5.7% |
| 2022 | −2.2% | −17.3% | −18.2% | −32.6% | −13.0% |
| 2021 | +14.6% | −7.7% | +28.7% | +27.4% | −1.8% |
| 2020 | +11.3% | −27.5% | +18.3% | +48.6% | +7.5% |
| 2019 | +4.6% | −19.7% | +31.2% | +39.0% | +8.5% |
| 2018 | −1.8% | −20.7% | −4.6% | −0.1% | +0.1% |
| 2017 | +15.3% | −8.5% | +21.7% | +32.7% | +3.6% |
| 2016 | −19.2% | −21.6% | +12.0% | +7.1% | +2.4% |
| 2015 | +10.9% | −23.1% | +1.2% | +9.4% | +0.5% |
| 2014 | +28.2% | −11.5% | +13.5% | +19.2% | +6.0% |
| 2013 | +55.7% | −5.2% | +32.3% | +36.6% | −2.0% |
| 2012 | +24.5% | −6.9% | +16.0% | +18.1% | +3.8% |
| 2011 | +20.0% | −15.7% | +1.9% | +3.4% | +7.7% |
| 2010 | +27.5% | −12.4% | +15.1% | +19.9% | +6.4% |
| 2009 | +17.5% | −23.5% | +26.4% | +54.7% | +3.0% |
| 2008 | −10.9% | −28.0% | −36.8% | −41.7% | +7.9% |
| 2007 | +0.7% | −10.9% | +5.1% | +19.0% | +6.6% |
| 2006 | +10.8% | −11.3% | +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.
PJP largest drawdowns
Now 4.8% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jul 20, 2015 | −37.1% | Mar 23, 2020 | Jan 14, 2021 | 4.7 years | 5.5 years |
| May 7, 2007 | −36.2% | Mar 5, 2009 | Jan 19, 2010 | 1.8 years | 2.7 years |
| Apr 8, 2022 | −17.5% | Oct 27, 2023 | Jun 7, 2024 | 1.6 years | 2.2 years |
| Nov 8, 2024 | −16.3% | Apr 10, 2025 | Aug 13, 2025 | 5 months | 9 months |
| Jul 8, 2011 | −15.7% | Aug 8, 2011 | Dec 7, 2011 | 31 days | 5 months |
| Mar 23, 2010 | −12.4% | Jun 9, 2010 | Sep 10, 2010 | 3 months | 6 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
PJP risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2005 |
|---|---|---|---|---|
| Annualized return | +20.7% | +10.9% | +8.2% | +11.8% |
| Volatility (annualized) | 14.4% | 14.0% | 15.7% | 15.6% |
| Sharpe ratio | 1.08 | 0.56 | 0.44 | — |
| Sortino ratio | 2.19 | 0.97 | 0.69 | — |
| Best month | +12.9% | +12.9% | +13.5% | +13.5% |
| Worst month | −5.4% | −6.6% | −10.8% | −12.3% |
| Best 12 months | +52.0% | +52.0% | +52.0% | +58.6% |
| Worst 12 months | −4.8% | −10.9% | −23.3% | −23.3% |
| Positive months | 69% | 58% | 58% | 61% |
| Beta vs S&P 500 | 0.36 | 0.44 | 0.63 | — |
| Correlation with S&P 500 | 0.31 | 0.49 | 0.61 | — |
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.
PJP rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 245 | −23.3% | +10.9% | +58.6% | 73% |
| 3-year (a year) | 221 | −7.0% | +6.5% | +38.6% | 88% |
| 5-year (a year) | 197 | −4.7% | +9.3% | +35.9% | 93% |
| 10-year (a year) | 137 | +1.3% | +13.3% | +19.4% | 100% |
Every holding period starting at a month-end since 2005. Returns for 3 years and longer are annualized.
PJP performance overview
Invesco Dynamic Pharmaceuticals ETF (PJP) returned +32.9% over the past year and +8.9% a year over ten years, with distributions reinvested. Since its first recorded price in 2005 it has returned +11.8% a year, turning $10,000 into about $108,279. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −37.1%, from Jul 20, 2015 to Mar 23, 2020, and it took 10 months to get back to the old high. PJP finished 15 of its 20 full calendar years with a gain; the best year was 2013 (+55.7%) and the worst 2016 (−19.2%). Volatility has been 15.6% a year.
Related: PJP chart, PJP holdings, PJP dividends. See the PJP overview for the latest quote and fund facts.
PJP performance FAQ
What is the PJP return over the past year?
PJP returned +32.9% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 31.5%.
What is the average annual return of PJP?
PJP has returned +10.9% a year over 5 years, +8.9% a year over 10 years, +11.8% a year since June 23, 2005 (total return, distributions reinvested).
How much would $10,000 invested in PJP be worth?
$10,000 invested in PJP at its first recorded close on June 23, 2005 would be worth about $108,279 on October 23, 2026 with distributions reinvested.
What was the worst year for PJP?
The worst calendar year was 2016, with a total return of −19.2%. The best was 2013 at +55.7%.
What is the biggest drawdown of PJP?
The largest peak-to-trough decline was −37.1% between July 20, 2015 and March 23, 2020. It recovered to the old high on January 14, 2021, 10 months after the bottom.
How volatile is PJP?
Over the past 3 years PJP had an annualized volatility of 14.4% and a Sharpe ratio of 1.08 (excess return over 1–3 month T-bills per unit of risk).