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IJJ vs. PEY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IJJ vs. PEY

Last updated Jul 16, 2026
Documentation

IJJ (iShares S&P Mid-Cap 400 Value ETF) and PEY (Invesco High Yield Equity Dividend Achievers™ ETF) are both Mid Cap Value Equities funds - IJJ tracks the S&P MidCap 400 Value Index while PEY tracks the NASDAQ US Dividend Achievers 50 Index. Both are passively managed. Over the past 10 years, IJJ returned 10.36%/yr vs 8.64%/yr for PEY. Their correlation of 0.85 suggests significant overlap in exposure. IJJ charges 0.18%/yr vs 0.54%/yr for PEY.

Performance

IJJ vs. PEY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares S&P Mid-Cap 400 Value ETF (IJJ) and Invesco High Yield Equity Dividend Achievers™ ETF (PEY). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IJJ achieves a 12.60% return, which is significantly lower than PEY's 20.02% return. Over the past 10 years, IJJ has outperformed PEY with an annualized return of 10.36%, while PEY has yielded a comparatively lower 8.64% annualized return.

IJJ

1D
0.26%
1M
0.67%
6M
7.39%
YTD
12.60%
1Y
19.67%
3Y*
12.43%
5Y*
9.56%
10Y*
10.36%

PEY

1D
0.60%
1M
3.54%
6M
14.12%
YTD
20.02%
1Y
19.97%
3Y*
12.36%
5Y*
8.22%
10Y*
8.64%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IJJ vs. PEY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IJJ
iShares S&P Mid-Cap 400 Value ETF		12.60%7.27%11.63%15.24%-7.11%30.45%3.56%25.66%-12.06%12.04%
PEY
Invesco High Yield Equity Dividend Achievers™ ETF		20.02%0.56%5.25%7.29%2.45%26.15%-3.85%24.76%-7.49%8.78%

Correlation

The correlation between IJJ and PEY is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.71

Correlation (3Y)
Calculated over the trailing 3-year period

0.80

Correlation (5Y)
Calculated over the trailing 5-year period

0.82

Correlation (10Y)
Calculated over the trailing 10-year period

0.84

Correlation (All Time)
Calculated using the full available price history since Dec 9, 2004

0.85

The correlation between IJJ and PEY shifts across timeframes, from 0.71 (1 year) to 0.85 (all time), reflecting how their relationship changes across market environments.

IJJ vs. PEY - Sectors Allocation Comparison

Sectors
IJJ
PEY

Financial Services

21.4%
22.3%

Industrials

18.7%
17.6%

Consumer Cyclical

13.9%
8.3%

Technology

10.2%
5.1%

Real Estate

9.6%

-

Energy

6.8%
1.3%

Basic Materials

6.3%
5.4%

Consumer Defensive

4.9%
16.2%

Utilities

4.0%
11.6%

Healthcare

3.8%
6.1%

Communication Services

0.5%
5.6%

Financial Services

IJJ
21.4%
PEY
22.3%

Industrials

IJJ
18.7%
PEY
17.6%

Consumer Cyclical

IJJ
13.9%
PEY
8.3%

Technology

IJJ
10.2%
PEY
5.1%

Real Estate

IJJ
9.6%
PEY

-

Energy

IJJ
6.8%
PEY
1.3%

Basic Materials

IJJ
6.3%
PEY
5.4%

Consumer Defensive

IJJ
4.9%
PEY
16.2%

Utilities

IJJ
4.0%
PEY
11.6%

Healthcare

IJJ
3.8%
PEY
6.1%

Communication Services

IJJ
0.5%
PEY
5.6%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares S&P Mid-Cap 400 Value ETF

Invesco High Yield Equity Dividend Achievers™ ETF

Often compared with IJJ:
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Often compared with PEY:
PEY vs. SPHDPEY vs. SCHDPEY vs. DIVOPEY vs. DVYPEY vs. JEPIPEY vs. COWZPEY vs. VYM

Return for Risk

IJJ vs. PEY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IJJ
IJJ Risk / Return Rank: 4646
Overall Rank
IJJ Sharpe Ratio Rank: 4646
Sharpe Ratio Rank
IJJ Sortino Ratio Rank: 4949
Sortino Ratio Rank
IJJ Omega Ratio Rank: 4444
Omega Ratio Rank
IJJ Calmar Ratio Rank: 4545
Calmar Ratio Rank
IJJ Martin Ratio Rank: 4848
Martin Ratio Rank
PEY
PEY Risk / Return Rank: 5151
Overall Rank
PEY Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
PEY Sortino Ratio Rank: 5656
Sortino Ratio Rank
PEY Omega Ratio Rank: 4646
Omega Ratio Rank
PEY Calmar Ratio Rank: 5555
Calmar Ratio Rank
PEY Martin Ratio Rank: 4747
Martin Ratio Rank
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.

IJJ vs. PEY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P Mid-Cap 400 Value ETF (IJJ) 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.

IJJPEYDifference
Sharpe ratioReturn per unit of total volatility
1.31
1.44

-0.13

Sortino ratioReturn per unit of downside risk
2.00
2.18

-0.17

Omega ratioGain probability vs. loss probability

1.23

1.24

-0.01

Calmar ratioReturn relative to maximum drawdown

1.87

2.26

-0.39

Martin ratioReturn relative to average drawdown

6.46

6.33

+0.12

IJJ vs. PEY - Sharpe Ratio Comparison

The current IJJ Sharpe Ratio is 1.31, which is comparable to the PEY Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of IJJ 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.

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Drawdowns

IJJ vs. PEY - Drawdown Comparison

The maximum IJJ drawdown since its inception was -58.00%, smaller than the maximum PEY drawdown of -72.81%. Use the drawdown chart below to compare losses from any high point for IJJ and PEY.

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Drawdown Indicators

IJJPEYDifference

Max Drawdown

Largest peak-to-trough decline

-58.00%

-72.81%

+14.81%

Max Drawdown (1Y)

Largest decline over 1 year

-10.59%

-8.88%

-1.71%

Max Drawdown (3Y)

Largest decline over 3 years

-22.68%

-17.90%

-4.78%

Max Drawdown (5Y)

Largest decline over 5 years

-22.68%

-17.90%

-4.78%

Max Drawdown (10Y)

Largest decline over 10 years

-46.11%

-41.55%

-4.56%

Current Drawdown

Current decline from peak

-0.39%

0.00%

-0.39%

Average Drawdown

Average peak-to-trough decline

-7.90%

-12.81%

+4.91%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.05%

3.16%

-0.11%

Volatility

IJJ vs. PEY - Volatility Comparison

The current volatility for iShares S&P Mid-Cap 400 Value ETF (IJJ) is 3.12%, while Invesco High Yield Equity Dividend Achievers™ ETF (PEY) has a volatility of 4.56%. This indicates that IJJ 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.

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Volatility by Period

IJJPEYDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.12%

4.56%

-1.44%

Volatility (6M)

Calculated over the trailing 6-month period

10.64%

9.66%

+0.98%

Volatility (1Y)

Calculated over the trailing 1-year period

15.24%

14.04%

+1.20%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.45%

16.39%

+3.06%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.96%

18.87%

+3.09%

IJJ vs. PEY - Expense Ratio Comparison

IJJ has a 0.18% expense ratio, which is lower than PEY's 0.54% expense ratio.

Dividends

IJJ vs. PEY - Dividend Comparison

IJJ's dividend yield for the trailing twelve months is around 1.59%, less than PEY's 4.26% yield.

PositionTTM20252024202320222021202020192018201720162015
IJJ
iShares S&P Mid-Cap 400 Value ETF		1.59%1.79%1.81%1.68%1.97%1.62%1.78%1.70%2.01%1.52%1.67%1.83%
PEY
Invesco High Yield Equity Dividend Achievers™ ETF		4.26%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

IJJ and PEY have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

PEY has higher volatility (4.56%) compared to IJJ (3.12%). In terms of maximum drawdown, IJJ dropped -58.00% vs PEY's -72.81%.

On 10-year performance, IJJ leads with 10.36% vs 8.64% for PEY. On fees, IJJ is cheaper at 0.18% per year. On volatility, IJJ has been the lower-risk option at 3.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IJJ has performed better with a 10.36% return vs 8.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IJJ is cheaper with a 0.18% expense ratio, compared with 0.54% for PEY.

PEY has the higher dividend yield at 4.26%, compared with 1.59% for IJJ.

IJJ tracks S&P MidCap 400 Value Index, while PEY tracks NASDAQ US Dividend Achievers 50 Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.18% for IJJ and 0.54% for PEY.

PEY currently has the higher Sharpe Ratio (1.44 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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