DJD vs. PGHY
DJD (Invesco Dow Jones Industrial Average Dividend ETF) and PGHY (Invesco Global Short Term High Yield Bond ETF) are both exchange-traded funds - DJD is a Large Cap Value Equities fund tracking the Dow Jones Industrial Average Yield Weighted Index, while PGHY is a High Yield Bonds fund tracking the DB Global Short Maturity High Yield Bond Index. Both are passively managed. Over the past 10 years, DJD returned 12.03%/yr vs 4.14%/yr for PGHY. At a 0.27 correlation, their price movements are largely independent. DJD charges 0.07%/yr vs 0.35%/yr for PGHY.
Performance
DJD vs. PGHY - Performance Comparison
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Returns By Period
In the year-to-date period, DJD achieves a 12.11% return, which is significantly higher than PGHY's 2.68% return. Over the past 10 years, DJD has outperformed PGHY with an annualized return of 12.03%, while PGHY has yielded a comparatively lower 4.14% annualized return.
DJD
- 1D
- -0.60%
- 1M
- 1.48%
- 6M
- 9.44%
- YTD
- 12.11%
- 1Y
- 21.94%
- 3Y*
- 16.77%
- 5Y*
- 11.00%
- 10Y*
- 12.03%
- ALL TIME*
- 12.32%
PGHY
- 1D
- 0.02%
- 1M
- -0.26%
- 6M
- 2.02%
- YTD
- 2.68%
- 1Y
- 6.65%
- 3Y*
- 8.41%
- 5Y*
- 4.58%
- 10Y*
- 4.14%
- ALL TIME*
- 4.17%
DJD vs. PGHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DJD Invesco Dow Jones Industrial Average Dividend ETF | 12.11% | 15.83% | 13.66% | 9.41% | -0.73% | 22.40% | 0.87% | 22.00% | 0.03% | 21.65% |
PGHY Invesco Global Short Term High Yield Bond ETF | 2.68% | 8.88% | 8.39% | 10.15% | -5.50% | 1.22% | 3.04% | 5.87% | 0.38% | 2.97% |
Correlation
The correlation between DJD and PGHY is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Dec 16, 2015 | 0.27 |
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Return for Risk
DJD vs. PGHY — Risk / Return Rank
DJD
PGHY
DJD vs. PGHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Dow Jones Industrial Average Dividend ETF (DJD) and Invesco Global Short Term High Yield Bond ETF (PGHY). 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.
| DJD | PGHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.81 | ||
| Sortino ratioReturn per unit of downside risk | +1.17 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.24 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 3.91 | 2.20 | +1.71 |
| Martin ratioReturn relative to average drawdown | 11.44 | 8.38 | +3.06 |
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Drawdowns
DJD vs. PGHY - Drawdown Comparison
The maximum DJD drawdown since its inception was -34.66%, which is greater than PGHY's maximum drawdown of -20.50%. Use the drawdown chart below to compare losses from any high point for DJD and PGHY.
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Drawdown Indicators
| DJD | PGHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.66% | -20.50% | -14.16% |
Max Drawdown (1Y)Largest decline over 1 year | -5.64% | -3.04% | -2.60% |
Max Drawdown (3Y)Largest decline over 3 years | -12.28% | -5.03% | -7.25% |
Max Drawdown (5Y)Largest decline over 5 years | -19.94% | -9.38% | -10.56% |
Max Drawdown (10Y)Largest decline over 10 years | -34.66% | -20.50% | -14.16% |
Current DrawdownCurrent decline from peak | -2.47% | -0.41% | -2.06% |
Average DrawdownAverage peak-to-trough decline | -3.71% | -1.63% | -2.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.92% | 0.79% | +1.13% |
Volatility
DJD vs. PGHY - Volatility Comparison
Invesco Dow Jones Industrial Average Dividend ETF (DJD) has a higher volatility of 3.49% compared to Invesco Global Short Term High Yield Bond ETF (PGHY) at 0.88%. This indicates that DJD's price experiences larger fluctuations and is considered to be riskier than PGHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DJD | PGHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.49% | 0.88% | +2.61% |
Volatility (6M)Calculated over the trailing 6-month period | 7.91% | 3.86% | +4.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.42% | 5.09% | +5.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.35% | 5.49% | +7.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.57% | 7.01% | +9.56% |
DJD vs. PGHY - Expense Ratio Comparison
DJD has a 0.07% expense ratio, which is lower than PGHY's 0.35% expense ratio.
Dividends
DJD vs. PGHY - Dividend Comparison
DJD's dividend yield for the trailing twelve months is around 2.48%, less than PGHY's 7.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DJD Invesco Dow Jones Industrial Average Dividend ETF | 2.48% | 2.62% | 3.00% | 3.49% | 3.16% | 2.82% | 3.47% | 2.80% | 2.66% | 2.75% | 2.46% | 0.08% |
PGHY Invesco Global Short Term High Yield Bond ETF | 7.74% | 7.24% | 7.49% | 7.87% | 5.12% | 5.17% | 5.45% | 5.32% | 5.45% | 5.52% | 6.26% | 4.60% |
Frequently Asked Questions
DJD and PGHY have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DJD has higher volatility (3.49%) compared to PGHY (0.88%). In terms of maximum drawdown, DJD dropped -34.66% vs PGHY's -20.50%.
On 10-year performance, DJD leads with 12.03% vs 4.14% for PGHY. On fees, DJD is cheaper at 0.07% per year. On volatility, PGHY has been the lower-risk option at 0.88%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DJD has performed better with a 12.03% return vs 4.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DJD is cheaper with a 0.07% expense ratio, compared with 0.35% for PGHY.
PGHY has the higher dividend yield at 7.74%, compared with 2.48% for DJD.
DJD is categorized as Large Cap Value Equities, while PGHY is High Yield Bonds. DJD tracks Dow Jones Industrial Average Yield Weighted Index, while PGHY tracks DB Global Short Maturity High Yield Bond Index. Their fees differ too: 0.07% for DJD and 0.35% for PGHY.
DJD currently has the higher Sharpe Ratio (2.12 vs 1.31), 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.
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