PEY vs. DVLU
PEY (Invesco High Yield Equity Dividend Achievers™ ETF) and DVLU (First Trust Dorsey Wright Momentum & Value ETF) are both exchange-traded funds - PEY is a Mid Cap Value Equities fund tracking the NASDAQ US Dividend Achievers 50 Index, while DVLU is a Momentum fund tracking the Dorsey Wright Momentum Plus Value Index. Both are passively managed. Over the past 5 years, PEY returned 6.66%/yr vs 12.25%/yr for DVLU. A 0.73 correlation means they provide meaningful diversification when combined. PEY charges 0.54%/yr vs 0.60%/yr for DVLU.
Performance
PEY vs. DVLU - Performance Comparison
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Returns By Period
In the year-to-date period, PEY achieves a 14.10% return, which is significantly higher than DVLU's 10.79% return.
PEY
- 1D
- 1.16%
- 1M
- 1.72%
- YTD
- 14.10%
- 6M
- 13.85%
- 1Y
- 17.71%
- 3Y*
- 12.04%
- 5Y*
- 6.66%
- 10Y*
- 8.73%
DVLU
- 1D
- 0.30%
- 1M
- 4.14%
- YTD
- 10.79%
- 6M
- 8.85%
- 1Y
- 36.17%
- 3Y*
- 21.46%
- 5Y*
- 12.25%
- 10Y*
- —
PEY vs. DVLU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PEY Invesco High Yield Equity Dividend Achievers™ ETF | 14.10% | 0.56% | 5.25% | 7.29% | 2.45% | 26.15% | -3.85% | 24.76% | -11.87% |
DVLU First Trust Dorsey Wright Momentum & Value ETF | 10.79% | 23.67% | 13.36% | 18.84% | -9.73% | 41.67% | -6.68% | 33.59% | -24.03% |
Correlation
The correlation between PEY and DVLU is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2018 | 0.73 |
The correlation between PEY and DVLU shifts across timeframes, from 0.60 (1 year) to 0.74 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PEY vs. DVLU — Risk / Return Rank
PEY
DVLU
PEY vs. DVLU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco High Yield Equity Dividend Achievers™ ETF (PEY) and First Trust Dorsey Wright Momentum & Value ETF (DVLU). 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.
| PEY | DVLU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.96 | ||
| Sortino ratioReturn per unit of downside risk | -1.12 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.38 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | 2.97 | -0.97 |
| Martin ratioReturn relative to average drawdown | 5.59 | 10.71 | -5.11 |
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Drawdowns
PEY vs. DVLU - Drawdown Comparison
The maximum PEY drawdown since its inception was -72.81%, which is greater than DVLU's maximum drawdown of -53.26%. Use the drawdown chart below to compare losses from any high point for PEY and DVLU.
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Drawdown Indicators
| PEY | DVLU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.81% | -53.26% | -19.55% |
Max Drawdown (1Y)Largest decline over 1 year | -8.88% | -12.24% | +3.36% |
Max Drawdown (3Y)Largest decline over 3 years | -17.90% | -24.86% | +6.96% |
Max Drawdown (5Y)Largest decline over 5 years | -17.90% | -24.86% | +6.96% |
Max Drawdown (10Y)Largest decline over 10 years | -41.55% | — | — |
Current DrawdownCurrent decline from peak | -2.46% | -0.65% | -1.81% |
Average DrawdownAverage peak-to-trough decline | -12.85% | -8.73% | -4.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.17% | 3.39% | -0.22% |
Volatility
PEY vs. DVLU - Volatility Comparison
Invesco High Yield Equity Dividend Achievers™ ETF (PEY) has a higher volatility of 4.05% compared to First Trust Dorsey Wright Momentum & Value ETF (DVLU) at 3.70%. This indicates that PEY's price experiences larger fluctuations and is considered to be riskier than DVLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PEY | DVLU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.05% | 3.70% | +0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 9.55% | 12.34% | -2.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.17% | 16.43% | -2.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.36% | 21.39% | -5.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.88% | 25.73% | -6.85% |
PEY vs. DVLU - Expense Ratio Comparison
PEY has a 0.54% expense ratio, which is lower than DVLU's 0.60% expense ratio.
Dividends
PEY vs. DVLU - Dividend Comparison
PEY's dividend yield for the trailing twelve months is around 4.49%, more than DVLU's 0.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DVLU First Trust Dorsey Wright Momentum & Value ETF | 0.62% | 0.73% | 1.06% | 1.34% | 2.18% | 1.33% | 1.34% | 1.71% | 0.58% | 0.00% | 0.00% | 0.00% |
PEY Invesco High Yield Equity Dividend Achievers™ ETF | 4.49% | 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
PEY and DVLU have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PEY has higher volatility (4.05%) compared to DVLU (3.70%). In terms of maximum drawdown, PEY dropped -72.81% vs DVLU's -53.26%.
On 5-year performance, DVLU leads with 12.25% vs 6.66% for PEY. On fees, PEY is cheaper at 0.54% per year. On volatility, DVLU has been the lower-risk option at 3.70%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DVLU has performed better with a 12.25% return vs 6.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PEY is cheaper with a 0.54% expense ratio, compared with 0.60% for DVLU.
PEY has the higher dividend yield at 4.49%, compared with 0.62% for DVLU.
PEY is categorized as Mid Cap Value Equities, while DVLU is Momentum. PEY tracks NASDAQ US Dividend Achievers 50 Index, while DVLU tracks Dorsey Wright Momentum Plus Value Index. They also come from different issuers: Invesco and First Trust. Their fees differ too: 0.54% for PEY and 0.60% for DVLU.
DVLU currently has the higher Sharpe Ratio (2.22 vs 1.26), 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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