FEMV vs. PEY
FEMV (Fidelity Enhanced Mid Cap Value ETF) and PEY (Invesco High Yield Equity Dividend Achievers™ ETF) are both Mid Cap Value Equities funds. FEMV is actively managed, while PEY is passively managed. Their 0.27 correlation means their historical movements had little consistent relationship. FEMV charges 0.23%/yr vs 0.54%/yr for PEY.
Performance
FEMV vs. PEY - Performance Comparison
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Returns By Period
FEMV
- 1D
- 0.50%
- 1M
- 2.61%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
PEY
- 1D
- 1.20%
- 1M
- 4.58%
- 6M
- 17.02%
- YTD
- 23.37%
- 1Y
- 20.50%
- 3Y*
- 12.06%
- 5Y*
- 8.69%
- 10Y*
- 8.98%
- ALL TIME*
- 6.72%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $30.73K | $43.86K | $125.28K | |
| $4.93M | $4.37M | $4.67M |
FEMV vs. PEY - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
FEMV Fidelity Enhanced Mid Cap Value ETF | 8.50% |
PEY Invesco High Yield Equity Dividend Achievers™ ETF | 11.74% |
Correlation
The correlation between FEMV and PEY is 0.27, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Apr 30, 2026 | 0.27 |
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Return for Risk
FEMV vs. PEY — Risk / Return Rank
FEMV
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
PEY
FEMV vs. PEY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced Mid Cap Value ETF (FEMV) 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.
| FEMV | PEY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.25 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.32 | — |
| Martin ratioReturn relative to average drawdown | — | 6.70 | — |
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Drawdowns
FEMV vs. PEY - Drawdown Comparison
The maximum FEMV drawdown since its inception was -2.69%, smaller than the maximum PEY drawdown of -72.81%. Use the drawdown chart below to compare losses from any high point for FEMV and PEY.
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Drawdown Indicators
| FEMV | PEY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.69% | -72.81% | +70.12% |
Max Drawdown (1Y)Largest decline over 1 year | — | -8.88% | — |
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 DrawdownCurrent decline from peak | 0.00% | -0.30% | +0.30% |
Average DrawdownAverage peak-to-trough decline | -0.48% | -12.80% | +12.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 3.10% | — |
Volatility
FEMV vs. PEY - Volatility Comparison
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Volatility by Period
| FEMV | PEY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.18% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 9.84% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 11.35% | 14.21% | -2.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.35% | 16.42% | -5.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.35% | 18.91% | -7.56% |
FEMV vs. PEY - Expense Ratio Comparison
FEMV has a 0.23% expense ratio, which is lower than PEY's 0.54% expense ratio.
Dividends
FEMV vs. PEY - Dividend Comparison
FEMV's dividend yield for the trailing twelve months is around 0.26%, less than PEY's 4.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FEMV Fidelity Enhanced Mid Cap Value ETF | 0.26% | 0.00% | 0.00% | 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
FEMV and PEY have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FEMV is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FEMV is cheaper with a 0.23% expense ratio, compared with 0.54% for PEY.
PEY has the higher dividend yield at 4.20%, compared with 0.26% for FEMV.
They also come from different issuers: Fidelity and Invesco. Their fees differ too: 0.23% for FEMV and 0.54% for PEY.
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