DVXY vs. PEJ

Last updated Jun 4, 2026

DVXY (WEBs Consumer Discretionary XLY Defined Volatility ETF) and PEJ (Invesco Dynamic Leisure & Entertainment ETF) are both Consumer Discretionary Equities funds - DVXY tracks the Syntax Defined Volatility XLY Index while PEJ tracks the Dynamic Leisure and Entertainment Intellidex Index. Both are passively managed. A 0.66 correlation means they provide meaningful diversification when combined. DVXY charges 0.89%/yr vs 0.55%/yr for PEJ.

Performance

DVXY vs. PEJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WEBs Consumer Discretionary XLY Defined Volatility ETF (DVXY) and Invesco Dynamic Leisure & Entertainment ETF (PEJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DVXY achieves a -9.95% return, which is significantly lower than PEJ's 1.65% return.

DVXY

• 1D: -1.02%
• 1M: -2.07%
• YTD: -9.95%
• 6M: -11.49%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PEJ

• 1D: -1.07%
• 1M: 4.17%
• YTD: 1.65%
• 6M: 4.67%
• 1Y: 15.85%
• 3Y*: 15.88%
• 5Y*: 3.81%
• 10Y*: 6.54%

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

DVXY vs. PEJ - Yearly Performance Comparison

	2026 (YTD)	2025
DVXY WEBs Consumer Discretionary XLY Defined Volatility ETF	-9.95%	1.26%
PEJ Invesco Dynamic Leisure & Entertainment ETF	1.65%	3.54%

Correlation

The correlation between DVXY and PEJ is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 24, 2025	0.66

Return for Risk

DVXY vs. PEJ — Risk / Return Rank

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

PEJ

PEJ Risk / Return Rank: 26
PEJ Sharpe Ratio Rank: 24
PEJ Sortino Ratio Rank: 25
PEJ Omega Ratio Rank: 23
PEJ Calmar Ratio Rank: 31
PEJ Martin Ratio Rank: 28

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.

DVXY vs. PEJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WEBs Consumer Discretionary XLY Defined Volatility ETF (DVXY) and Invesco Dynamic Leisure & Entertainment ETF (PEJ). 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.

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

Sharpe Ratios by Period

	DVXY	PEJ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.86	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.17	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.27	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.38	0.32	-0.70

Drawdowns

DVXY vs. PEJ - Drawdown Comparison

The maximum DVXY drawdown since its inception was -23.09%, smaller than the maximum PEJ drawdown of -66.03%. Use the drawdown chart below to compare losses from any high point for DVXY and PEJ.

Drawdown Indicators

	DVXY	PEJ	Difference
Max Drawdown Largest peak-to-trough decline	-23.09%	-66.03%	+42.94%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.29%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-25.75%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-35.44%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-58.96%	—
Current Drawdown Current decline from peak	-16.23%	-2.58%	-13.65%
Average Drawdown Average peak-to-trough decline	-7.81%	-12.32%	+4.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.97%	—

Volatility

Volatility by Period

	DVXY	PEJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.92%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.90%	—
Volatility (1Y) Calculated over the trailing 1-year period	26.97%	18.48%	+8.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.97%	22.79%	+4.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.97%	24.75%	+2.22%

DVXY vs. PEJ - Expense Ratio Comparison

DVXY has a 0.89% expense ratio, which is higher than PEJ's 0.55% expense ratio.

Dividends

DVXY vs. PEJ - Dividend Comparison

DVXY has not paid dividends to shareholders, while PEJ's dividend yield for the trailing twelve months is around 0.39%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DVXY WEBs Consumer Discretionary XLY Defined Volatility ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PEJ Invesco Dynamic Leisure & Entertainment ETF	0.39%	0.24%	0.40%	0.46%	0.43%	0.34%	0.92%	0.39%	0.78%	0.68%	0.68%	0.52%

Frequently Asked Questions

Can I hold both DVXY and PEJ in my portfolio?

DVXY and PEJ have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DVXY or PEJ?

On fees, PEJ is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DVXY or PEJ?

PEJ is cheaper with a 0.55% expense ratio, compared with 0.89% for DVXY.

Which ETF pays a higher dividend yield, DVXY or PEJ?

PEJ has the higher dividend yield at 0.39%, compared with 0.00% for DVXY.

What is the main difference between DVXY and PEJ?

DVXY tracks Syntax Defined Volatility XLY Index, while PEJ tracks Dynamic Leisure and Entertainment Intellidex Index. They also come from different issuers: WEBs and Invesco. Their fees differ too: 0.89% for DVXY and 0.55% for PEJ.