DEF vs. GARY

Last updated Jul 15, 2026

DEF (Invesco Defensive Equity ETF) and GARY (Mango Growth ETF) are both Large Cap Growth Equities funds. DEF is passively managed, while GARY is actively managed. At a correlation of -0.03, they often move in opposite directions. DEF charges 0.53%/yr vs 0.77%/yr for GARY.

Performance

DEF vs. GARY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Defensive Equity ETF (DEF) and Mango Growth ETF (GARY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DEF

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GARY

• 1D: 1.12%
• 1M: 1.12%
• 6M: 24.74%
• YTD: 31.48%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DEF vs. GARY - Yearly Performance Comparison

	2026 (YTD)
DEF Invesco Defensive Equity ETF	-11.11%
GARY Mango Growth ETF	4.95%

Correlation

The correlation between DEF and GARY is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 8, 2026	-0.03

Return for Risk

DEF vs. GARY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Defensive Equity ETF (DEF) and Mango Growth ETF (GARY). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

Drawdown Indicators

	DEF	GARY	Difference
Max Drawdown Largest peak-to-trough decline	—	-10.28%	—
Current Drawdown Current decline from peak	—	-4.17%	—
Average Drawdown Average peak-to-trough decline	—	-1.88%	—

Volatility

Volatility by Period

	DEF	GARY	Difference
Volatility (1Y) Calculated over the trailing 1-year period	—	21.79%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	21.79%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	21.79%	—

DEF vs. GARY - Expense Ratio Comparison

DEF has a 0.53% expense ratio, which is lower than GARY's 0.77% expense ratio.

Dividends

DEF vs. GARY - Dividend Comparison

DEF has not paid dividends to shareholders, while GARY's dividend yield for the trailing twelve months is around 0.04%.

Position	TTM	2025
DEF Invesco Defensive Equity ETF	0.00%	0.00%
GARY Mango Growth ETF	0.04%	0.05%

Frequently Asked Questions

Can I hold both DEF and GARY in my portfolio?

DEF and GARY have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DEF or GARY?

On fees, DEF is cheaper at 0.53% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DEF or GARY?

DEF is cheaper with a 0.53% expense ratio, compared with 0.77% for GARY.

Which ETF pays a higher dividend yield, DEF or GARY?

GARY has the higher dividend yield at 0.04%, compared with 0.00% for DEF.

What is the main difference between DEF and GARY?

They also come from different issuers: Invesco and Mango. Their fees differ too: 0.53% for DEF and 0.77% for GARY.