PEY vs. HOBEX

Last updated Jun 4, 2026

PEY (Invesco High Yield Equity Dividend Achievers™ ETF) and HOBEX (Holbrook Income Fund) are both funds - PEY is a Mid Cap Value Equities fund tracking the NASDAQ US Dividend Achievers 50 Index, while HOBEX is a Short-Term Bond fund managed by Holbrook Holdings. Over the past 5 years, PEY returned 5.57%/yr vs 3.84%/yr for HOBEX. At a 0.19 correlation, their price movements are largely independent. PEY charges 0.54%/yr vs 1.60%/yr for HOBEX.

Performance

PEY vs. HOBEX - Performance Comparison

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

Returns By Period

In the year-to-date period, PEY achieves a 11.81% return, which is significantly higher than HOBEX's 2.12% 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%

HOBEX

• 1D: 0.00%
• 1M: 0.44%
• YTD: 2.12%
• 6M: 2.62%
• 1Y: 5.97%
• 3Y*: 6.65%
• 5Y*: 3.84%
• 10Y*: —

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

PEY vs. HOBEX - 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%	8.39%
HOBEX Holbrook Income Fund	2.12%	7.23%	7.16%	4.74%	-3.42%	6.25%	6.83%	7.30%	1.26%	2.42%

Correlation

The correlation between PEY and HOBEX is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.17
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.19

The correlation between PEY and HOBEX shifts across timeframes, from 0.02 (1 year) to 0.19 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

PEY vs. HOBEX — 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

HOBEX

HOBEX Risk / Return Rank: 96
HOBEX Sharpe Ratio Rank: 89
HOBEX Sortino Ratio Rank: 99
HOBEX Omega Ratio Rank: 99
HOBEX Calmar Ratio Rank: 98
HOBEX Martin Ratio Rank: 98

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. HOBEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco High Yield Equity Dividend Achievers™ ETF (PEY) and Holbrook Income Fund (HOBEX). 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	HOBEX	Difference
Sharpe ratio: Return per unit of total volatility	1.11	2.91	-1.80
Sortino ratio: Return per unit of downside risk	1.72	7.70	-5.97
Omega ratio: Gain probability vs. loss probability	1.19	2.60	-1.40
Calmar ratio: Return relative to maximum drawdown	1.75	9.89	-8.13
Martin ratio: Return relative to average drawdown	4.90	35.41	-30.51
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. HOBEX - Sharpe Ratio Comparison

The current PEY Sharpe Ratio is 1.11, which is lower than the HOBEX Sharpe Ratio of 2.91. The chart below compares the historical Sharpe Ratios of PEY and HOBEX, 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	HOBEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.11	2.91	-1.80
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	1.48	-1.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.77	-0.49

Drawdowns

PEY vs. HOBEX - Drawdown Comparison

The maximum PEY drawdown since its inception was -72.81%, which is greater than HOBEX's maximum drawdown of -23.58%. Use the drawdown chart below to compare losses from any high point for PEY and HOBEX.

Drawdown Indicators

	PEY	HOBEX	Difference
Max Drawdown Largest peak-to-trough decline	-72.81%	-23.58%	-49.23%
Max Drawdown (1Y) Largest decline over 1 year	-8.88%	-0.61%	-8.27%
Max Drawdown (3Y) Largest decline over 3 years	-17.90%	-2.74%	-15.16%
Max Drawdown (5Y) Largest decline over 5 years	-17.90%	-4.57%	-13.33%
Max Drawdown (10Y) Largest decline over 10 years	-41.55%	—	—
Current Drawdown Current decline from peak	-1.64%	0.00%	-1.64%
Average Drawdown Average peak-to-trough decline	-12.88%	-1.06%	-11.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.17%	0.17%	+3.00%

Volatility

PEY vs. HOBEX - Volatility Comparison

Invesco High Yield Equity Dividend Achievers™ ETF (PEY) has a higher volatility of 3.82% compared to Holbrook Income Fund (HOBEX) at 0.52%. This indicates that PEY's price experiences larger fluctuations and is considered to be riskier than HOBEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PEY	HOBEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.82%	0.52%	+3.30%
Volatility (6M) Calculated over the trailing 6-month period	9.30%	1.63%	+7.67%
Volatility (1Y) Calculated over the trailing 1-year period	14.09%	2.06%	+12.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.40%	2.61%	+13.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.90%	5.72%	+13.18%

PEY vs. HOBEX - Expense Ratio Comparison

PEY has a 0.54% expense ratio, which is lower than HOBEX's 1.60% expense ratio.

Dividends

PEY vs. HOBEX - Dividend Comparison

PEY's dividend yield for the trailing twelve months is around 4.52%, less than HOBEX's 5.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HOBEX Holbrook Income Fund	5.79%	5.94%	6.58%	5.05%	4.83%	4.00%	5.44%	3.05%	3.84%	1.69%	0.00%	0.00%
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 HOBEX in my portfolio?

PEY and HOBEX have a correlation of 0.02, 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 HOBEX?

PEY has higher volatility (3.82%) compared to HOBEX (0.52%). In terms of maximum drawdown, PEY dropped -72.81% vs HOBEX's -23.58%.

Which has better risk-adjusted returns?

HOBEX currently has the higher Sharpe Ratio (2.91 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.