DIVG vs. PEY

Last updated Aug 4, 2026

DIVG (Invesco S&P 500 High Dividend Growers ETF) and PEY (Invesco High Yield Equity Dividend Achievers™ 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 PEY is a Mid Cap Value Equities fund tracking the NASDAQ US Dividend Achievers 50 Index. Both are passively managed. Over the past year, DIVG returned 24.96% vs 26.07% for PEY. Their correlation of 0.88 means they have usually moved in the same direction. DIVG charges 0.39%/yr vs 0.54%/yr for PEY.

Performance

DIVG vs. PEY - 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 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, DIVG achieves a 18.41% return, which is significantly lower than PEY's 23.42% return.

DIVG

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

PEY

• 1D: 1.35%
• 1M: 3.57%
• 6M: 15.13%
• YTD: 23.42%
• 1Y: 26.07%
• 3Y*: 11.62%
• 5Y*: 8.94%
• 10Y*: 9.03%
• ALL TIME*: 6.72%

*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
PEY Invesco High Yield Equity Dividend Achievers™ ETF	$6.27M	$5.03M	$4.84M

DIVG vs. PEY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DIVG Invesco S&P 500 High Dividend Growers ETF	18.41%	11.31%	16.60%	5.71%
PEY Invesco High Yield Equity Dividend Achievers™ ETF	23.42%	0.56%	5.25%	6.58%

Correlation

The correlation between DIVG and PEY is 0.84, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.84
Correlation (All Time) Calculated using the full available price history since Dec 6, 2023	0.88

The correlation between DIVG and PEY has been stable across timeframes, ranging from 0.84 to 0.88 - a consistent structural relationship.

DIVG vs. PEY - Sectors Allocation Comparison

Sectors	DIVG	PEY
Financial Services	29.3%	22.0%
Utilities	13.8%	14.0%
Consumer Defensive	12.3%	20.0%
Real Estate	11.8%	-
Technology	10.1%	2.6%
Energy	7.3%	1.6%
Healthcare	5.7%	4.2%
Basic Materials	5.5%	4.0%
Industrials	4.3%	15.5%
Communication Services	2.9%	5.3%
Consumer Cyclical	2.4%	7.1%

Return for Risk

DIVG vs. PEY — 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

PEY

PEY Risk / Return Rank: 77
PEY Sharpe Ratio Rank: 79
PEY Sortino Ratio Rank: 83
PEY Omega Ratio Rank: 73
PEY Calmar Ratio Rank: 80
PEY Martin Ratio Rank: 69

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. PEY - 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 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.

	DIVG	PEY	Difference
Sharpe ratio: Return per unit of total volatility	2.33	1.84	+0.49
Sortino ratio: Return per unit of downside risk	3.45	2.77	+0.68
Omega ratio: Gain probability vs. loss probability	1.41	1.31	+0.09
Calmar ratio: Return relative to maximum drawdown	4.89	2.95	+1.94
Martin ratio: Return relative to average drawdown	16.36	8.62	+7.75

DIVG vs. PEY - Sharpe Ratio Comparison

The current DIVG Sharpe Ratio is 2.33, which is comparable to the PEY Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of DIVG 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

DIVG vs. PEY - Drawdown Comparison

The maximum DIVG drawdown since its inception was -14.95%, smaller than the maximum PEY drawdown of -72.81%. Use the drawdown chart below to compare losses from any high point for DIVG and PEY.

Drawdown Indicators

	DIVG	PEY	Difference
Max Drawdown Largest peak-to-trough decline	-14.95%	-72.81%	+57.86%
Max Drawdown (1Y) Largest decline over 1 year	-5.13%	-8.88%	+3.75%
Max Drawdown (3Y) Largest decline over 3 years	—	-17.90%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.90%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.55%	—
Current Drawdown Current decline from peak	-0.86%	-1.45%	+0.59%
Average Drawdown Average peak-to-trough decline	-2.18%	-12.78%	+10.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.53%	3.03%	-1.50%

Volatility

DIVG vs. PEY - Volatility Comparison

The current volatility for Invesco S&P 500 High Dividend Growers ETF (DIVG) is 3.49%, while Invesco High Yield Equity Dividend Achievers™ ETF (PEY) has a volatility of 5.31%. This indicates that DIVG 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

	DIVG	PEY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.49%	5.31%	-1.82%
Volatility (6M) Calculated over the trailing 6-month period	7.65%	9.96%	-2.31%
Volatility (1Y) Calculated over the trailing 1-year period	10.80%	14.28%	-3.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.11%	16.46%	-3.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.11%	18.92%	-5.81%

DIVG vs. PEY - Expense Ratio Comparison

DIVG has a 0.39% expense ratio, which is lower than PEY's 0.54% expense ratio.

Dividends

DIVG vs. PEY - Dividend Comparison

DIVG's dividend yield for the trailing twelve months is around 2.97%, less than PEY's 4.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DIVG Invesco S&P 500 High Dividend Growers ETF	2.97%	3.15%	4.08%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PEY Invesco High Yield Equity Dividend Achievers™ ETF	4.20%	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 DIVG and PEY in my portfolio?

DIVG and PEY have a correlation of 0.84, 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 PEY?

PEY has higher volatility (5.31%) compared to DIVG (3.49%). In terms of maximum drawdown, DIVG dropped -14.95% vs PEY's -72.81%.

Which ETF is better, DIVG or PEY?

On 1-year performance, PEY leads with 26.07% vs 24.96% for DIVG. 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 PEY?

Over the 1-year period, PEY has performed better with a 26.07% return vs 24.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIVG or PEY?

DIVG is cheaper with a 0.39% expense ratio, compared with 0.54% for PEY.

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

PEY has the higher dividend yield at 4.20%, compared with 2.97% for DIVG.

What is the main difference between DIVG and PEY?

DIVG is categorized as S&P 500, while PEY is Mid Cap Value Equities. DIVG tracks S&P 500 High Dividend Growth Index - Benchmark TR Gross, while PEY tracks NASDAQ US Dividend Achievers 50 Index. Their fees differ too: 0.39% for DIVG and 0.54% for PEY.

Which has better risk-adjusted returns?

DIVG currently has the higher Sharpe Ratio (2.33 vs 1.84), 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.