PEY vs. DVY

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco High Yield Equity Dividend Achievers™ ETF (PEY) and iShares Select Dividend ETF (DVY).

PEY and DVY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PEY is a passively managed fund by Invesco that tracks the performance of the NASDAQ US Dividend Achievers 50 Index. It was launched on Dec 9, 2004. DVY is a passively managed fund by iShares that tracks the performance of the Dow Jones U.S. Select Dividend Index. It was launched on Nov 3, 2003. Both PEY and DVY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

PEY vs. DVY - Performance Comparison

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

PEY vs. DVY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PEY Invesco High Yield Equity Dividend Achievers™ ETF	5.88%	0.56%	5.25%	7.29%	2.45%	26.15%	-3.85%	24.76%	-7.49%	8.78%
DVY iShares Select Dividend ETF	7.83%	11.60%	16.24%	1.12%	1.80%	31.70%	-4.91%	22.62%	-6.36%	14.82%

Returns By Period

In the year-to-date period, PEY achieves a 5.88% return, which is significantly lower than DVY's 7.83% return. Over the past 10 years, PEY has underperformed DVY with an annualized return of 8.63%, while DVY has yielded a comparatively higher 10.16% annualized return.

PEY

• 1D: -0.32%
• 1M: -0.81%
• YTD: 5.88%
• 6M: 3.22%
• 1Y: 4.59%
• 3Y*: 7.32%
• 5Y*: 5.59%
• 10Y*: 8.63%

DVY

• 1D: -0.25%
• 1M: -2.41%
• YTD: 7.83%
• 6M: 8.13%
• 1Y: 16.82%
• 3Y*: 13.00%
• 5Y*: 9.51%
• 10Y*: 10.16%

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

PEY vs. DVY - Expense Ratio Comparison

PEY has a 0.54% expense ratio, which is higher than DVY's 0.39% expense ratio.

PEY

Invesco High Yield Equity Dividend Achievers™ ETF

DVY

iShares Select Dividend ETF

Return for Risk

PEY vs. DVY — Risk / Return Rank

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

PEY

PEY Risk / Return Rank: 18
PEY Sharpe Ratio Rank: 18
PEY Sortino Ratio Rank: 18
PEY Omega Ratio Rank: 17
PEY Calmar Ratio Rank: 19
PEY Martin Ratio Rank: 19

DVY

DVY Risk / Return Rank: 56
DVY Sharpe Ratio Rank: 59
DVY Sortino Ratio Rank: 58
DVY Omega Ratio Rank: 56
DVY Calmar Ratio Rank: 51
DVY Martin Ratio Rank: 57

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. DVY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco High Yield Equity Dividend Achievers™ ETF (PEY) and iShares Select Dividend ETF (DVY). 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	DVY	Difference
Sharpe ratio Return per unit of total volatility	0.26	1.07	-0.82
Sortino ratio Return per unit of downside risk	0.49	1.55	-1.06
Omega ratio Gain probability vs. loss probability	1.06	1.22	-0.15
Calmar ratio Return relative to maximum drawdown	0.33	1.37	-1.04
Martin ratio Return relative to average drawdown	0.98	5.88	-4.90
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. DVY - Sharpe Ratio Comparison

The current PEY Sharpe Ratio is 0.26, which is lower than the DVY Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of PEY and DVY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PEY	DVY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.26	1.07	-0.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	0.62	-0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.57	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	0.47	-0.20

Correlation

The correlation between PEY and DVY is 0.93, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

PEY vs. DVY - Dividend Comparison

PEY's dividend yield for the trailing twelve months is around 4.68%, more than DVY's 3.47% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PEY Invesco High Yield Equity Dividend Achievers™ ETF	4.68%	4.85%	4.44%	4.58%	4.22%	3.83%	4.30%	3.78%	4.33%	3.21%	3.12%	3.44%
DVY iShares Select Dividend ETF	3.47%	3.65%	3.65%	3.82%	3.43%	3.12%	3.66%	3.41%	3.58%	3.00%	3.04%	3.45%

Drawdowns

PEY vs. DVY - Drawdown Comparison

The maximum PEY drawdown since its inception was -72.81%, which is greater than DVY's maximum drawdown of -62.59%. Use the drawdown chart below to compare losses from any high point for PEY and DVY.

Drawdown Indicators

	PEY	DVY	Difference
Max Drawdown Largest peak-to-trough decline	-72.81%	-62.59%	-10.22%
Max Drawdown (1Y) Largest decline over 1 year	-13.28%	-12.23%	-1.05%
Max Drawdown (5Y) Largest decline over 5 years	-17.90%	-17.54%	-0.36%
Max Drawdown (10Y) Largest decline over 10 years	-41.55%	-41.59%	+0.04%
Current Drawdown Current decline from peak	-3.71%	-3.64%	-0.07%
Average Drawdown Average peak-to-trough decline	-12.97%	-8.84%	-4.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.45%	2.85%	+1.60%

Volatility

PEY vs. DVY - Volatility Comparison

Invesco High Yield Equity Dividend Achievers™ ETF (PEY) and iShares Select Dividend ETF (DVY) have volatilities of 3.24% and 3.32%, 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.

Volatility by Period

	PEY	DVY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.24%	3.32%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	9.86%	8.21%	+1.65%
Volatility (1Y) Calculated over the trailing 1-year period	17.84%	15.72%	+2.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.38%	15.28%	+1.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.90%	18.02%	+0.88%