DEW vs. PEY

Last updated Jun 24, 2026

DEW (WisdomTree Global High Dividend Fund) and PEY (Invesco High Yield Equity Dividend Achievers™ ETF) are both exchange-traded funds - DEW is a Large Cap Value Equities fund tracking the WisdomTree Global High Dividend Index, while PEY is a Mid Cap Value Equities fund tracking the NASDAQ US Dividend Achievers 50 Index. Both are passively managed. Over the past 10 years, DEW returned 9.72%/yr vs 8.73%/yr for PEY. A 0.74 correlation means they provide meaningful diversification when combined. DEW charges 0.58%/yr vs 0.54%/yr for PEY.

Performance

DEW vs. PEY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Global High Dividend Fund (DEW) and Invesco High Yield Equity Dividend Achievers™ ETF (PEY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DEW achieves a 12.97% return, which is significantly lower than PEY's 14.10% return. Over the past 10 years, DEW has outperformed PEY with an annualized return of 9.72%, while PEY has yielded a comparatively lower 8.73% annualized return.

DEW

• 1D: 0.43%
• 1M: -0.07%
• YTD: 12.97%
• 6M: 12.77%
• 1Y: 25.61%
• 3Y*: 19.27%
• 5Y*: 11.57%
• 10Y*: 9.72%

PEY

• 1D: 1.16%
• 1M: 1.72%
• YTD: 14.10%
• 6M: 13.85%
• 1Y: 17.71%
• 3Y*: 12.04%
• 5Y*: 6.66%
• 10Y*: 8.73%

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

DEW vs. PEY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DEW WisdomTree Global High Dividend Fund	12.97%	22.39%	11.58%	9.39%	-2.73%	21.29%	-7.32%	20.45%	-10.58%	15.38%
PEY Invesco High Yield Equity Dividend Achievers™ ETF	14.10%	0.56%	5.25%	7.29%	2.45%	26.15%	-3.85%	24.76%	-7.49%	8.78%

Correlation

The correlation between DEW and PEY is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Jun 16, 2006	0.74

The correlation between DEW and PEY shifts across timeframes, from 0.69 (1 year) to 0.83 (5 years), reflecting how their relationship changes across market environments.

DEW vs. PEY - Sectors Allocation Comparison

Sectors	DEW	PEY
Financial Services	19.7%	22.8%
Energy	14.7%	1.3%
Utilities	10.8%	11.6%
Real Estate	10.8%	-
Healthcare	9.5%	6.1%
Consumer Defensive	8.9%	16.2%
Industrials	4.4%	17.6%
Communication Services	4.1%	5.6%
Consumer Cyclical	3.1%	8.3%
Basic Materials	2.8%	5.4%
Technology	2.5%	5.1%

Return for Risk

DEW vs. PEY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DEW

DEW Risk / Return Rank: 84
DEW Sharpe Ratio Rank: 87
DEW Sortino Ratio Rank: 87
DEW Omega Ratio Rank: 83
DEW Calmar Ratio Rank: 81
DEW Martin Ratio Rank: 83

PEY

PEY Risk / Return Rank: 37
PEY Sharpe Ratio Rank: 36
PEY Sortino Ratio Rank: 39
PEY Omega Ratio Rank: 33
PEY Calmar Ratio Rank: 42
PEY Martin Ratio Rank: 37

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DEW vs. PEY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Global High Dividend Fund (DEW) and Invesco High Yield Equity Dividend Achievers™ ETF (PEY). 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.

	DEW	PEY	Difference
Sharpe ratio: Return per unit of total volatility	2.64	1.26	+1.38
Sortino ratio: Return per unit of downside risk	3.68	1.94	+1.74
Omega ratio: Gain probability vs. loss probability	1.47	1.22	+0.25
Calmar ratio: Return relative to maximum drawdown	4.06	2.00	+2.06
Martin ratio: Return relative to average drawdown	15.88	5.59	+10.29

DEW vs. PEY - Sharpe Ratio Comparison

The current DEW Sharpe Ratio is 2.64, which is higher than the PEY Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of DEW and PEY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DEW vs. PEY - Drawdown Comparison

The maximum DEW drawdown since its inception was -65.55%, smaller than the maximum PEY drawdown of -72.81%. Use the drawdown chart below to compare losses from any high point for DEW and PEY.

Drawdown Indicators

	DEW	PEY	Difference
Max Drawdown Largest peak-to-trough decline	-65.55%	-72.81%	+7.26%
Max Drawdown (1Y) Largest decline over 1 year	-6.34%	-8.88%	+2.54%
Max Drawdown (3Y) Largest decline over 3 years	-11.80%	-17.90%	+6.10%
Max Drawdown (5Y) Largest decline over 5 years	-18.86%	-17.90%	-0.96%
Max Drawdown (10Y) Largest decline over 10 years	-38.77%	-41.55%	+2.78%
Current Drawdown Current decline from peak	-1.12%	-2.46%	+1.34%
Average Drawdown Average peak-to-trough decline	-12.41%	-12.85%	+0.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.62%	3.17%	-1.55%

Volatility

DEW vs. PEY - Volatility Comparison

The current volatility for WisdomTree Global High Dividend Fund (DEW) is 2.77%, while Invesco High Yield Equity Dividend Achievers™ ETF (PEY) has a volatility of 4.05%. This indicates that DEW experiences smaller price fluctuations and is considered to be less risky than PEY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DEW	PEY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.77%	4.05%	-1.28%
Volatility (6M) Calculated over the trailing 6-month period	7.35%	9.55%	-2.20%
Volatility (1Y) Calculated over the trailing 1-year period	9.76%	14.17%	-4.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.98%	16.36%	-3.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.42%	18.88%	-3.46%

DEW vs. PEY - Expense Ratio Comparison

DEW has a 0.58% expense ratio, which is higher than PEY's 0.54% expense ratio.

Dividends

DEW vs. PEY - Dividend Comparison

DEW's dividend yield for the trailing twelve months is around 3.18%, less than PEY's 4.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DEW WisdomTree Global High Dividend Fund	3.18%	3.71%	4.02%	4.55%	3.82%	3.55%	4.10%	3.74%	4.17%	3.18%	3.42%	4.32%
PEY Invesco High Yield Equity Dividend Achievers™ ETF	4.49%	4.85%	4.44%	4.58%	4.22%	3.83%	4.30%	3.78%	4.33%	3.21%	3.12%	3.44%

Frequently Asked Questions

Can I hold both DEW and PEY in my portfolio?

DEW and PEY have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DEW or PEY?

PEY has higher volatility (4.05%) compared to DEW (2.77%). In terms of maximum drawdown, DEW dropped -65.55% vs PEY's -72.81%.

Which ETF is better, DEW or PEY?

On 10-year performance, DEW leads with 9.72% vs 8.73% for PEY. On fees, PEY is cheaper at 0.54% per year. On volatility, DEW has been the lower-risk option at 2.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DEW or PEY?

Over the 10-year period, DEW has performed better with a 9.72% return vs 8.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DEW or PEY?

PEY is cheaper with a 0.54% expense ratio, compared with 0.58% for DEW.

Which ETF pays a higher dividend yield, DEW or PEY?

PEY has the higher dividend yield at 4.49%, compared with 3.18% for DEW.

What is the main difference between DEW and PEY?

DEW is categorized as Large Cap Value Equities, while PEY is Mid Cap Value Equities. DEW tracks WisdomTree Global High Dividend Index, while PEY tracks NASDAQ US Dividend Achievers 50 Index. They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.58% for DEW and 0.54% for PEY.

Which has better risk-adjusted returns?

DEW currently has the higher Sharpe Ratio (2.64 vs 1.26), 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.