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PEY vs. DVY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PEY vs. DVY

Last updated Jun 24, 2026

PEY (Invesco High Yield Equity Dividend Achievers™ ETF) and DVY (iShares Select Dividend ETF) are both exchange-traded funds - PEY is a Mid Cap Value Equities fund tracking the NASDAQ US Dividend Achievers 50 Index, while DVY is a Large Cap Value Equities fund tracking the Dow Jones U.S. Select Dividend Index. Both are passively managed. Over the past 10 years, PEY returned 8.73%/yr vs 10.39%/yr for DVY. Their correlation of 0.93 suggests significant overlap in exposure. PEY charges 0.54%/yr vs 0.39%/yr for DVY.

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.

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Returns By Period

In the year-to-date period, PEY achieves a 14.10% return, which is significantly higher than DVY's 11.95% return. Over the past 10 years, PEY has underperformed DVY with an annualized return of 8.73%, while DVY has yielded a comparatively higher 10.39% annualized 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%

DVY

1D
0.93%
1M
0.67%
YTD
11.95%
6M
11.29%
1Y
22.55%
3Y*
16.40%
5Y*
9.78%
10Y*
10.39%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PEY vs. DVY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PEY
Invesco High Yield Equity Dividend Achievers™ ETF		14.10%0.56%5.25%7.29%2.45%26.15%-3.85%24.76%-7.49%8.78%
DVY
iShares Select Dividend ETF		11.95%11.60%16.24%1.12%1.80%31.70%-4.91%22.62%-6.36%14.82%

Correlation

The correlation between PEY and DVY is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.84

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

0.90

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

0.92

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

0.93

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

0.93

The correlation between PEY and DVY has been stable across timeframes, ranging from 0.84 to 0.93 - a consistent structural relationship.

PEY vs. DVY - Sectors Allocation Comparison

Sectors
PEY
DVY

Financial Services

22.8%
25.8%

Industrials

17.6%
2.1%

Consumer Defensive

16.2%
13.4%

Utilities

11.6%
23.8%

Consumer Cyclical

8.3%
10.0%

Healthcare

6.1%
5.1%

Communication Services

5.6%
5.3%

Basic Materials

5.4%
2.0%

Technology

5.1%
3.8%

Energy

1.3%
8.2%

Real Estate

-

-

Financial Services

PEY
22.8%
DVY
25.8%

Industrials

PEY
17.6%
DVY
2.1%

Consumer Defensive

PEY
16.2%
DVY
13.4%

Utilities

PEY
11.6%
DVY
23.8%

Consumer Cyclical

PEY
8.3%
DVY
10.0%

Healthcare

PEY
6.1%
DVY
5.1%

Communication Services

PEY
5.6%
DVY
5.3%

Basic Materials

PEY
5.4%
DVY
2.0%

Technology

PEY
5.1%
DVY
3.8%

Energy

PEY
1.3%
DVY
8.2%

Real Estate

PEY

-

DVY

-

Compare stocks, funds, or ETFs

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

Invesco High Yield Equity Dividend Achievers™ ETF

iShares Select Dividend ETF

Often compared with PEY:
PEY vs. SPHDPEY vs. SCHDPEY vs. DIVOPEY vs. JEPIPEY vs. COWZPEY vs. VYMPEY vs. HDV
Often compared with DVY:
DVY vs. SCHDDVY vs. HDVDVY vs. VYMDVY vs. DGRODVY vs. VIGDVY vs. SPYDDVY vs. VOO

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: 3737
Overall Rank
PEY Sharpe Ratio Rank: 3636
Sharpe Ratio Rank
PEY Sortino Ratio Rank: 3939
Sortino Ratio Rank
PEY Omega Ratio Rank: 3333
Omega Ratio Rank
PEY Calmar Ratio Rank: 4242
Calmar Ratio Rank
PEY Martin Ratio Rank: 3737
Martin Ratio Rank
DVY
DVY Risk / Return Rank: 6464
Overall Rank
DVY Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
DVY Sortino Ratio Rank: 6767
Sortino Ratio Rank
DVY Omega Ratio Rank: 5858
Omega Ratio Rank
DVY Calmar Ratio Rank: 6868
Calmar Ratio Rank
DVY Martin Ratio Rank: 6666
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.

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.

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.

PEYDVYDifference
Sharpe ratioReturn per unit of total volatility
1.26
2.01

-0.76

Sortino ratioReturn per unit of downside risk
1.94
2.93

-0.99

Omega ratioGain probability vs. loss probability

1.22

1.34

-0.13

Calmar ratioReturn relative to maximum drawdown

2.00

3.29

-1.28

Martin ratioReturn relative to average drawdown

5.59

11.48

-5.89

PEY vs. DVY - Sharpe Ratio Comparison

The current PEY Sharpe Ratio is 1.26, which is lower than the DVY Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of PEY and DVY, 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

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.

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Drawdown Indicators

PEYDVYDifference

Max Drawdown

Largest peak-to-trough decline

-72.81%

-62.59%

-10.22%

Max Drawdown (1Y)

Largest decline over 1 year

-8.88%

-6.89%

-1.99%

Max Drawdown (3Y)

Largest decline over 3 years

-17.90%

-16.00%

-1.90%

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

-2.46%

-1.28%

-1.18%

Average Drawdown

Average peak-to-trough decline

-12.85%

-8.77%

-4.08%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.17%

1.97%

+1.20%

Volatility

PEY vs. DVY - Volatility Comparison

Invesco High Yield Equity Dividend Achievers™ ETF (PEY) has a higher volatility of 4.05% compared to iShares Select Dividend ETF (DVY) at 3.47%. This indicates that PEY's price experiences larger fluctuations and is considered to be riskier than DVY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PEYDVYDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.05%

3.47%

+0.58%

Volatility (6M)

Calculated over the trailing 6-month period

9.55%

7.79%

+1.76%

Volatility (1Y)

Calculated over the trailing 1-year period

14.17%

11.28%

+2.89%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.36%

15.15%

+1.21%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.88%

18.02%

+0.86%

PEY vs. DVY - Expense Ratio Comparison

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

Dividends

PEY vs. DVY - Dividend Comparison

PEY's dividend yield for the trailing twelve months is around 4.49%, more than DVY's 3.38% yield.

PositionTTM20252024202320222021202020192018201720162015
DVY
iShares Select Dividend ETF		3.38%3.65%3.65%3.82%3.43%3.12%3.66%3.41%3.58%3.00%3.04%3.45%
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 DVY have a correlation of 0.84, 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 DVY (3.47%). In terms of maximum drawdown, PEY dropped -72.81% vs DVY's -62.59%.

On 10-year performance, DVY leads with 10.39% vs 8.73% for PEY. On fees, DVY is cheaper at 0.39% per year. On volatility, DVY has been the lower-risk option at 3.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, DVY has performed better with a 10.39% return vs 8.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

DVY is cheaper with a 0.39% expense ratio, compared with 0.54% for PEY.

PEY has the higher dividend yield at 4.49%, compared with 3.38% for DVY.

PEY is categorized as Mid Cap Value Equities, while DVY is Large Cap Value Equities. PEY tracks NASDAQ US Dividend Achievers 50 Index, while DVY tracks Dow Jones U.S. Select Dividend Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.54% for PEY and 0.39% for DVY.

DVY currently has the higher Sharpe Ratio (2.01 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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