PEY vs. DEW

Last updated Jun 4, 2026

PEY (Invesco High Yield Equity Dividend Achievers™ ETF) and DEW (WisdomTree Global High Dividend Fund) are both exchange-traded funds - PEY is a Mid Cap Value Equities fund tracking the NASDAQ US Dividend Achievers 50 Index, while DEW is a Large Cap Value Equities fund tracking the WisdomTree Global High Dividend Index. Both are passively managed. Over the past 10 years, PEY returned 8.50%/yr vs 9.30%/yr for DEW. A 0.74 correlation means they provide meaningful diversification when combined. PEY charges 0.54%/yr vs 0.58%/yr for DEW.

Performance

PEY vs. DEW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco High Yield Equity Dividend Achievers™ ETF (PEY) and WisdomTree Global High Dividend Fund (DEW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with PEY having a 11.81% return and DEW slightly lower at 11.59%. Over the past 10 years, PEY has underperformed DEW with an annualized return of 8.50%, while DEW has yielded a comparatively higher 9.30% annualized return.

PEY

• 1D: -1.52%
• 1M: 2.48%
• YTD: 11.81%
• 6M: 11.63%
• 1Y: 15.51%
• 3Y*: 10.93%
• 5Y*: 5.57%
• 10Y*: 8.50%

DEW

• 1D: -0.19%
• 1M: 0.84%
• YTD: 11.59%
• 6M: 12.75%
• 1Y: 25.31%
• 3Y*: 18.77%
• 5Y*: 10.67%
• 10Y*: 9.30%

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

PEY vs. DEW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PEY Invesco High Yield Equity Dividend Achievers™ ETF	11.81%	0.56%	5.25%	7.29%	2.45%	26.15%	-3.85%	24.76%	-7.49%	8.78%
DEW WisdomTree Global High Dividend Fund	11.59%	22.39%	11.58%	9.39%	-2.73%	21.29%	-7.32%	20.45%	-10.58%	15.38%

Correlation

The correlation between PEY and DEW is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Jun 19, 2006	0.74

The correlation between PEY and DEW shifts across timeframes, from 0.70 (1 year) to 0.83 (5 years), reflecting how their relationship changes across market environments.

PEY vs. DEW - Sectors Allocation Comparison

Sectors	PEY	DEW
Financial Services	21.7%	19.7%
Consumer Defensive	16.9%	8.9%
Industrials	15.0%	4.4%
Utilities	12.0%	10.8%
Consumer Cyclical	7.5%	3.1%
Healthcare	6.8%	9.5%
Technology	6.5%	2.5%
Basic Materials	6.4%	2.8%
Communication Services	5.7%	4.1%
Energy	1.5%	14.7%
Real Estate	-	10.8%

Return for Risk

PEY vs. DEW — Risk / Return Rank

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

PEY

PEY Risk / Return Rank: 31
PEY Sharpe Ratio Rank: 29
PEY Sortino Ratio Rank: 31
PEY Omega Ratio Rank: 28
PEY Calmar Ratio Rank: 35
PEY Martin Ratio Rank: 32

DEW

DEW Risk / Return Rank: 80
DEW Sharpe Ratio Rank: 81
DEW Sortino Ratio Rank: 82
DEW Omega Ratio Rank: 78
DEW Calmar Ratio Rank: 78
DEW Martin Ratio Rank: 80

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.

PEY vs. DEW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco High Yield Equity Dividend Achievers™ ETF (PEY) and WisdomTree Global High Dividend Fund (DEW). 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.

	PEY	DEW	Difference
Sharpe ratio: Return per unit of total volatility	1.11	2.64	-1.54
Sortino ratio: Return per unit of downside risk	1.72	3.70	-1.97
Omega ratio: Gain probability vs. loss probability	1.19	1.47	-0.28
Calmar ratio: Return relative to maximum drawdown	1.75	4.01	-2.26
Martin ratio: Return relative to average drawdown	4.90	15.80	-10.90
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PEY vs. DEW - Sharpe Ratio Comparison

The current PEY Sharpe Ratio is 1.11, which is lower than the DEW Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of PEY and DEW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PEY	DEW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.11	2.64	-1.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	0.83	-0.48
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.60	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.28	0.00

Drawdowns

PEY vs. DEW - Drawdown Comparison

The maximum PEY drawdown since its inception was -72.81%, which is greater than DEW's maximum drawdown of -65.55%. Use the drawdown chart below to compare losses from any high point for PEY and DEW.

Drawdown Indicators

	PEY	DEW	Difference
Max Drawdown Largest peak-to-trough decline	-72.81%	-65.55%	-7.26%
Max Drawdown (1Y) Largest decline over 1 year	-8.88%	-6.34%	-2.54%
Max Drawdown (3Y) Largest decline over 3 years	-17.90%	-11.80%	-6.10%
Max Drawdown (5Y) Largest decline over 5 years	-17.90%	-18.86%	+0.96%
Max Drawdown (10Y) Largest decline over 10 years	-41.55%	-38.77%	-2.78%
Current Drawdown Current decline from peak	-1.64%	-1.29%	-0.35%
Average Drawdown Average peak-to-trough decline	-12.88%	-12.44%	-0.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.17%	1.61%	+1.56%

Volatility

PEY vs. DEW - Volatility Comparison

Invesco High Yield Equity Dividend Achievers™ ETF (PEY) has a higher volatility of 3.82% compared to WisdomTree Global High Dividend Fund (DEW) at 2.79%. This indicates that PEY's price experiences larger fluctuations and is considered to be riskier than DEW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PEY	DEW	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.82%	2.79%	+1.03%
Volatility (6M) Calculated over the trailing 6-month period	9.30%	7.16%	+2.14%
Volatility (1Y) Calculated over the trailing 1-year period	14.09%	9.61%	+4.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.40%	12.99%	+3.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.90%	15.53%	+3.37%

PEY vs. DEW - Expense Ratio Comparison

PEY has a 0.54% expense ratio, which is lower than DEW's 0.58% expense ratio.

Dividends

PEY vs. DEW - Dividend Comparison

PEY's dividend yield for the trailing twelve months is around 4.52%, more than DEW's 3.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DEW WisdomTree Global High Dividend Fund	3.22%	3.71%	4.02%	4.55%	3.82%	3.55%	4.10%	3.74%	4.17%	3.18%	3.42%	4.32%
PEY Invesco High Yield Equity Dividend Achievers™ ETF	4.52%	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

Can I hold both PEY and DEW in my portfolio?

PEY and DEW have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PEY or DEW?

PEY has higher volatility (3.82%) compared to DEW (2.79%). In terms of maximum drawdown, PEY dropped -72.81% vs DEW's -65.55%.

Which ETF is better, PEY or DEW?

On 10-year performance, DEW leads with 9.30% vs 8.50% for PEY. On fees, PEY is cheaper at 0.54% per year. On volatility, DEW has been the lower-risk option at 2.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PEY or DEW?

Over the 10-year period, DEW has performed better with a 9.30% return vs 8.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PEY or DEW?

PEY is cheaper with a 0.54% expense ratio, compared with 0.58% for DEW.

Which ETF pays a higher dividend yield, PEY or DEW?

PEY has the higher dividend yield at 4.52%, compared with 3.22% for DEW.

What is the main difference between PEY and DEW?

PEY is categorized as Mid Cap Value Equities, while DEW is Large Cap Value Equities. PEY tracks NASDAQ US Dividend Achievers 50 Index, while DEW tracks WisdomTree Global High Dividend Index. They also come from different issuers: Invesco and WisdomTree. Their fees differ too: 0.54% for PEY and 0.58% for DEW.

Which has better risk-adjusted returns?

DEW currently has the higher Sharpe Ratio (2.64 vs 1.11), 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.