DIVG vs. GIAX

Last updated Aug 4, 2026

DIVG (Invesco S&P 500 High Dividend Growers ETF) and GIAX (Nicholas Global Equity and Income ETF) are both exchange-traded funds - DIVG is a S&P 500 fund tracking the S&P 500 High Dividend Growth Index - Benchmark TR Gross, while GIAX is a Derivative Income fund actively managed by Nicholas. DIVG is passively managed, while GIAX is actively managed. Over the past year, DIVG returned 24.96% vs 13.16% for GIAX. Their 0.28 correlation means their historical movements had little consistent relationship. DIVG charges 0.39%/yr vs 1.03%/yr for GIAX.

Performance

DIVG vs. GIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 High Dividend Growers ETF (DIVG) and Nicholas Global Equity and Income ETF (GIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DIVG achieves a 18.41% return, which is significantly higher than GIAX's 8.67% return.

DIVG

• 1D: 0.39%
• 1M: 3.17%
• 6M: 13.40%
• YTD: 18.41%
• 1Y: 24.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 20.02%

GIAX

• 1D: 3.13%
• 1M: -3.55%
• 6M: 7.83%
• YTD: 8.67%
• 1Y: 13.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.74%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DIVG Invesco S&P 500 High Dividend Growers ETF	$39.86K	$73.63K	$69.04K
GIAX Nicholas Global Equity and Income ETF	$1.18M	$1.87M	$1.96M

DIVG vs. GIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DIVG Invesco S&P 500 High Dividend Growers ETF	18.41%	11.31%	2.79%
GIAX Nicholas Global Equity and Income ETF	8.67%	11.73%	2.94%

Correlation

The correlation between DIVG and GIAX is 0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.02
Correlation (All Time) Calculated using the full available price history since Jul 30, 2024	0.28

Over the past year, the correlation between DIVG and GIAX has dropped to 0.02 - well below their long-term average of 0.28, suggesting their price drivers have been diverging.

DIVG vs. GIAX - Sectors Allocation Comparison

Sectors	DIVG	GIAX
Financial Services	29.3%	11.1%
Utilities	13.8%	0.9%
Consumer Defensive	12.3%	1.0%
Real Estate	11.8%	2.2%
Technology	10.1%	47.0%
Energy	7.3%	0.9%
Healthcare	5.7%	2.3%
Basic Materials	5.5%	1.4%
Industrials	4.3%	7.6%
Communication Services	2.9%	15.7%
Consumer Cyclical	2.4%	9.9%

Return for Risk

DIVG vs. GIAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DIVG

DIVG Risk / Return Rank: 91
DIVG Sharpe Ratio Rank: 90
DIVG Sortino Ratio Rank: 92
DIVG Omega Ratio Rank: 88
DIVG Calmar Ratio Rank: 94
DIVG Martin Ratio Rank: 92

GIAX

GIAX Risk / Return Rank: 24
GIAX Sharpe Ratio Rank: 24
GIAX Sortino Ratio Rank: 24
GIAX Omega Ratio Rank: 24
GIAX Calmar Ratio Rank: 23
GIAX Martin Ratio Rank: 27

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DIVG vs. GIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 High Dividend Growers ETF (DIVG) and Nicholas Global Equity and Income ETF (GIAX). 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.

	DIVG	GIAX	Difference
Sharpe ratio: Return per unit of total volatility	2.33	0.52	+1.80
Sortino ratio: Return per unit of downside risk	3.45	0.87	+2.58
Omega ratio: Gain probability vs. loss probability	1.41	1.11	+0.30
Calmar ratio: Return relative to maximum drawdown	4.89	0.67	+4.22
Martin ratio: Return relative to average drawdown	16.36	2.22	+14.15

DIVG vs. GIAX - Sharpe Ratio Comparison

The current DIVG Sharpe Ratio is 2.33, which is higher than the GIAX Sharpe Ratio of 0.52. The chart below compares the historical Sharpe Ratios of DIVG and GIAX, 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

DIVG vs. GIAX - Drawdown Comparison

The maximum DIVG drawdown since its inception was -14.95%, smaller than the maximum GIAX drawdown of -20.38%. Use the drawdown chart below to compare losses from any high point for DIVG and GIAX.

Drawdown Indicators

	DIVG	GIAX	Difference
Max Drawdown Largest peak-to-trough decline	-14.95%	-20.38%	+5.43%
Max Drawdown (1Y) Largest decline over 1 year	-5.13%	-19.64%	+14.51%
Current Drawdown Current decline from peak	-0.86%	-13.58%	+12.72%
Average Drawdown Average peak-to-trough decline	-2.18%	-3.55%	+1.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.53%	5.95%	-4.42%

Volatility

DIVG vs. GIAX - Volatility Comparison

The current volatility for Invesco S&P 500 High Dividend Growers ETF (DIVG) is 3.49%, while Nicholas Global Equity and Income ETF (GIAX) has a volatility of 9.49%. This indicates that DIVG experiences smaller price fluctuations and is considered to be less risky than GIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIVG	GIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.49%	9.49%	-6.00%
Volatility (6M) Calculated over the trailing 6-month period	7.65%	22.48%	-14.83%
Volatility (1Y) Calculated over the trailing 1-year period	10.80%	25.36%	-14.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.11%	22.62%	-9.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.11%	22.62%	-9.51%

DIVG vs. GIAX - Expense Ratio Comparison

DIVG has a 0.39% expense ratio, which is lower than GIAX's 1.03% expense ratio.

Dividends

DIVG vs. GIAX - Dividend Comparison

DIVG's dividend yield for the trailing twelve months is around 2.97%, less than GIAX's 26.00% yield.

Position	TTM	2025	2024
DIVG Invesco S&P 500 High Dividend Growers ETF	2.97%	3.15%	4.08%
GIAX Nicholas Global Equity and Income ETF	26.00%	25.62%	10.58%

Frequently Asked Questions

Can I hold both DIVG and GIAX in my portfolio?

DIVG and GIAX have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DIVG or GIAX?

GIAX has higher volatility (9.49%) compared to DIVG (3.49%). In terms of maximum drawdown, DIVG dropped -14.95% vs GIAX's -20.38%.

Which ETF is better, DIVG or GIAX?

On 1-year performance, DIVG leads with 24.96% vs 13.16% for GIAX. On fees, DIVG is cheaper at 0.39% per year. On volatility, DIVG has been the lower-risk option at 3.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIVG or GIAX?

Over the 1-year period, DIVG has performed better with a 24.96% return vs 13.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIVG or GIAX?

DIVG is cheaper with a 0.39% expense ratio, compared with 1.03% for GIAX.

Which ETF pays a higher dividend yield, DIVG or GIAX?

GIAX has the higher dividend yield at 26.00%, compared with 2.97% for DIVG.

What is the main difference between DIVG and GIAX?

DIVG is categorized as S&P 500, while GIAX is Derivative Income. They also come from different issuers: Invesco and Nicholas. Their fees differ too: 0.39% for DIVG and 1.03% for GIAX.

Which has better risk-adjusted returns?

DIVG currently has the higher Sharpe Ratio (2.33 vs 0.52), 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.