Invesco FTSE RAFI Emerging Markets ETF (PXH) Performance
PXH total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +14.5% since Dec 31, 2025
- 1 year
- +16.1% total return
- 5 years
- +9.8% a year
- 10 years
- +8.5% a year
- Since first price
- +3.7% a year since 2007
PXH trailing returns vs SPY, QQQ, AGG
| Period | PXH total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −2.1% | −2.1% | −1.0% | −5.0% | +0.9% |
| 3 months | +2.3% | +1.2% | +3.2% | +1.9% | −0.4% |
| 6 months | +4.4% | +1.9% | +7.8% | +8.4% | −1.5% |
| YTD | +14.5% | +11.4% | +12.3% | +15.1% | −1.0% |
| 1 year | +16.1% | +11.3% | +14.4% | +15.9% | −1.1% |
| 3 years | +88.6%+23.5%/yr | +66.7% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +59.7%+9.8%/yr | +25.9% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +125.5%+8.5%/yr | +52.2% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +134.4%+5.8%/yr | +37.9% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionSep 27, 2007 | +98.8%+3.7%/yr | +10.0% | — | — | — |
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: PXH vs SPY
From Sep 27, 2007: PXH grew to $19,879, SPY to $70,241.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
PXH returns by calendar year
10 of 18 full years positive. Best 2009 (+67.0%), worst 2008 (−45.3%). 2026 is year to date.
PXH annual returns table
| Year | PXH | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +14.5% | −10.2% | +12.3% | +15.1% | −1.0% |
| 2025 | +31.4% | −17.1% | +17.7% | +20.8% | +7.2% |
| 2024 | +12.1% | −11.6% | +24.9% | +25.6% | +1.3% |
| 2023 | +14.0% | −11.3% | +26.2% | +54.9% | +5.7% |
| 2022 | −15.2% | −29.6% | −18.2% | −32.6% | −13.0% |
| 2021 | +8.3% | −9.3% | +28.7% | +27.4% | −1.8% |
| 2020 | −1.9% | −38.1% | +18.3% | +48.6% | +7.5% |
| 2019 | +16.8% | −12.1% | +31.2% | +39.0% | +8.5% |
| 2018 | −8.7% | −21.5% | −4.6% | −0.1% | +0.1% |
| 2017 | +26.6% | −6.2% | +21.7% | +32.7% | +3.6% |
| 2016 | +33.0% | −11.5% | +12.0% | +7.1% | +2.4% |
| 2015 | −22.9% | −33.7% | +1.2% | +9.4% | +0.5% |
| 2014 | −6.5% | −23.7% | +13.5% | +19.2% | +6.0% |
| 2013 | −7.7% | −21.0% | +32.3% | +36.6% | −2.0% |
| 2012 | +15.4% | −21.0% | +16.0% | +18.1% | +3.8% |
| 2011 | −19.7% | −31.3% | +1.9% | +3.4% | +7.7% |
| 2010 | +13.3% | −18.7% | +15.1% | +19.9% | +6.4% |
| 2009 | +67.0% | −29.3% | +26.4% | +54.7% | +3.0% |
| 2008 | −45.3% | −61.2% | −36.8% | −41.7% | +7.9% |
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.
PXH largest drawdowns
Now 4.0% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Oct 29, 2007 | −63.6% | Nov 20, 2008 | Apr 6, 2011 | 1.1 years | 3.4 years |
| Apr 7, 2011 | −49.6% | Jan 20, 2016 | Jan 2, 2018 | 4.8 years | 6.7 years |
| Jan 26, 2018 | −40.4% | Mar 23, 2020 | Feb 11, 2021 | 2.2 years | 3.0 years |
| Feb 16, 2022 | −29.6% | Oct 31, 2022 | May 16, 2024 | 8 months | 2.2 years |
| Oct 7, 2024 | −17.7% | Apr 8, 2025 | Jun 9, 2025 | 6 months | 8 months |
| Feb 25, 2026 | −10.2% | Mar 20, 2026 | May 5, 2026 | 23 days | 2 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
PXH risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2007 |
|---|---|---|---|---|
| Annualized return | +22.6% | +10.5% | +9.2% | +3.8% |
| Volatility (annualized) | 11.2% | 15.2% | 16.7% | 21.7% |
| Sharpe ratio | 1.51 | 0.50 | 0.48 | 0.22 |
| Sortino ratio | 3.12 | 0.82 | 0.73 | 0.32 |
| Best month | +7.9% | +14.2% | +14.2% | +18.0% |
| Worst month | −5.3% | −8.8% | −20.2% | −27.3% |
| Best 12 months | +40.1% | +40.1% | +50.4% | +86.2% |
| Worst 12 months | +12.1% | −24.2% | −25.2% | −52.4% |
| Positive months | 72% | 60% | 58% | 54% |
| Beta vs S&P 500 | 0.49 | 0.56 | 0.70 | — |
| Correlation with S&P 500 | 0.55 | 0.58 | 0.64 | — |
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.
PXH rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 218 | −52.4% | +6.5% | +86.2% | 58% |
| 3-year (a year) | 194 | −14.2% | +2.9% | +29.0% | 73% |
| 5-year (a year) | 170 | −9.8% | +3.1% | +13.8% | 76% |
| 10-year (a year) | 110 | −1.3% | +2.9% | +12.0% | 95% |
Every holding period starting at a month-end since 2007. Returns for 3 years and longer are annualized.
PXH performance overview
Invesco FTSE RAFI Emerging Markets ETF (PXH) returned +16.1% over the past year and +8.5% a year over ten years, with distributions reinvested. Since its first recorded price in 2007 it has returned +3.7% a year, turning $10,000 into about $19,879. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −63.6%, from Oct 29, 2007 to Nov 20, 2008, and it took 2.4 years to get back to the old high. PXH finished 10 of its 18 full calendar years with a gain; the best year was 2009 (+67.0%) and the worst 2008 (−45.3%). Volatility has been 21.7% a year.
Related: PXH chart, PXH holdings, PXH dividends. See the PXH overview for the latest quote and fund facts.
PXH performance FAQ
What is the PXH return over the past year?
PXH returned +16.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 11.3%.
What is the average annual return of PXH?
PXH has returned +9.8% a year over 5 years, +8.5% a year over 10 years, +3.7% a year since September 27, 2007 (total return, distributions reinvested).
How much would $10,000 invested in PXH be worth?
$10,000 invested in PXH at its first recorded close on September 27, 2007 would be worth about $19,879 on October 23, 2026 with distributions reinvested.
What was the worst year for PXH?
The worst calendar year was 2008, with a total return of −45.3%. The best was 2009 at +67.0%.
What is the biggest drawdown of PXH?
The largest peak-to-trough decline was −63.6% between October 29, 2007 and November 20, 2008. It recovered to the old high on April 6, 2011, 2.4 years after the bottom.
How volatile is PXH?
Over the past 3 years PXH had an annualized volatility of 11.2% and a Sharpe ratio of 1.51 (excess return over 1–3 month T-bills per unit of risk).