NIXT vs. PEY
NIXT (Research Affiliates Deletions ETF) and PEY (Invesco High Yield Equity Dividend Achievers™ ETF) are both Mid Cap Value Equities funds - NIXT tracks the Research Affiliates Deletions Index while PEY tracks the NASDAQ US Dividend Achievers 50 Index. Both are passively managed. Over the past year, NIXT returned 38.98% vs 24.40% for PEY. Their 0.73 correlation means they have sometimes moved together and sometimes differently. NIXT charges 0.09%/yr vs 0.54%/yr for PEY.
Performance
NIXT vs. PEY - Performance Comparison
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Returns By Period
In the year-to-date period, NIXT achieves a 26.32% return, which is significantly higher than PEY's 21.78% return.
NIXT
- 1D
- -1.21%
- 1M
- 0.57%
- 6M
- 22.44%
- YTD
- 26.32%
- 1Y
- 38.98%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 18.91%
PEY
- 1D
- -0.80%
- 1M
- 2.19%
- 6M
- 14.34%
- YTD
- 21.78%
- 1Y
- 24.40%
- 3Y*
- 11.82%
- 5Y*
- 8.46%
- 10Y*
- 9.05%
- ALL TIME*
- 6.66%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $59.15K | $60.52K | $64.01K | |
| $6.16M | $4.94M | $4.80M |
NIXT vs. PEY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
NIXT Research Affiliates Deletions ETF | 26.32% | 4.94% | 4.60% |
PEY Invesco High Yield Equity Dividend Achievers™ ETF | 21.78% | 0.56% | 1.02% |
Correlation
The correlation between NIXT and PEY is 0.69, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.69 |
Correlation (All Time) Calculated using the full available price history since Sep 10, 2024 | 0.73 |
The correlation between NIXT and PEY has been stable across timeframes, ranging from 0.69 to 0.73 - a consistent structural relationship.
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Return for Risk
NIXT vs. PEY — Risk / Return Rank
NIXT
PEY
NIXT vs. PEY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Research Affiliates Deletions ETF (NIXT) 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.
| NIXT | PEY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.28 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.08 | 2.62 | +0.46 |
| Martin ratioReturn relative to average drawdown | 12.03 | 7.66 | +4.37 |
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Drawdowns
NIXT vs. PEY - Drawdown Comparison
The maximum NIXT drawdown since its inception was -27.75%, smaller than the maximum PEY drawdown of -72.81%. Use the drawdown chart below to compare losses from any high point for NIXT and PEY.
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Drawdown Indicators
| NIXT | PEY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.75% | -72.81% | +45.06% |
Max Drawdown (1Y)Largest decline over 1 year | -11.71% | -8.88% | -2.83% |
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 | -2.04% | -2.76% | +0.72% |
Average DrawdownAverage peak-to-trough decline | -5.56% | -12.79% | +7.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 3.03% | -0.03% |
Volatility
NIXT vs. PEY - Volatility Comparison
Research Affiliates Deletions ETF (NIXT) and Invesco High Yield Equity Dividend Achievers™ ETF (PEY) have volatilities of 5.29% and 5.27%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NIXT | PEY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.29% | 5.27% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 14.60% | 10.05% | +4.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.94% | 14.27% | +6.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.97% | 16.45% | +6.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.97% | 18.91% | +4.06% |
NIXT vs. PEY - Expense Ratio Comparison
NIXT has a 0.09% expense ratio, which is lower than PEY's 0.54% expense ratio.
Dividends
NIXT vs. PEY - Dividend Comparison
NIXT's dividend yield for the trailing twelve months is around 1.30%, less than PEY's 4.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NIXT Research Affiliates Deletions ETF | 1.30% | 1.64% | 1.39% | 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 | 4.26% | 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
NIXT and PEY have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NIXT has higher volatility (5.29%) compared to PEY (5.27%). In terms of maximum drawdown, NIXT dropped -27.75% vs PEY's -72.81%.
On 1-year performance, NIXT leads with 38.98% vs 24.40% for PEY. On fees, NIXT is cheaper at 0.09% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, NIXT has performed better with a 38.98% return vs 24.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NIXT is cheaper with a 0.09% expense ratio, compared with 0.54% for PEY.
PEY has the higher dividend yield at 4.26%, compared with 1.30% for NIXT.
NIXT tracks Research Affiliates Deletions Index, while PEY tracks NASDAQ US Dividend Achievers 50 Index. They also come from different issuers: Alpha Architect and Invesco. Their fees differ too: 0.09% for NIXT and 0.54% for PEY.
NIXT currently has the higher Sharpe Ratio (1.73 vs 1.63), 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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