PEY vs. SCHD

Last updated Aug 2, 2026

PEY (Invesco High Yield Equity Dividend Achievers™ ETF) and SCHD (Schwab U.S. Dividend Equity ETF) are both exchange-traded funds - PEY is a Mid Cap Value Equities fund tracking the NASDAQ US Dividend Achievers 50 Index, while SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index. Both are passively managed. Over the past 10 years, PEY returned 9.05%/yr vs 12.76%/yr for SCHD. Their correlation of 0.86 means they have usually moved in the same direction. PEY charges 0.54%/yr vs 0.06%/yr for SCHD.

Performance

PEY vs. SCHD - Performance Comparison

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

Returns By Period

In the year-to-date period, PEY achieves a 21.78% return, which is significantly lower than SCHD's 24.03% return. Over the past 10 years, PEY has underperformed SCHD with an annualized return of 9.05%, while SCHD has yielded a comparatively higher 12.76% annualized return.

PEY

• 1D: -0.80%
• 1M: 2.19%
• 6M: 14.34%
• YTD: 21.78%
• 1Y: 24.40%
• 3Y*: 11.82%
• 5Y*: 8.46%
• 10Y*: 9.05%
• ALL TIME*: 6.66%

SCHD

• 1D: 0.18%
• 1M: 3.33%
• 6M: 14.09%
• YTD: 24.03%
• 1Y: 31.54%
• 3Y*: 14.19%
• 5Y*: 9.54%
• 10Y*: 12.76%
• ALL TIME*: 13.39%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PEY Invesco High Yield Equity Dividend Achievers™ ETF	$6.16M	$4.94M	$4.80M
SCHD Schwab U.S. Dividend Equity ETF	$786.88M	$715.86M	$685.58M

PEY vs. SCHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PEY Invesco High Yield Equity Dividend Achievers™ ETF	21.78%	0.56%	5.25%	7.29%	2.45%	26.15%	-3.85%	24.76%	-7.49%	8.78%
SCHD Schwab U.S. Dividend Equity ETF	24.03%	4.34%	11.66%	4.54%	-3.26%	29.87%	15.03%	27.29%	-5.56%	20.85%

Correlation

The correlation between PEY and SCHD is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.75
Correlation (3Y) Balances recent behavior with more history.	0.83
Correlation (5Y) Shows whether the relationship held over a longer period.	0.86
Correlation (10Y) Provides a long-term view across more market conditions.	0.86
Correlation (All Time) Calculated using the full available price history since Oct 20, 2011	0.86

The correlation between PEY and SCHD shifts across timeframes, from 0.75 (1 year) to 0.86 (all time), reflecting how their relationship changes across market environments.

PEY vs. SCHD - Sectors Allocation Comparison

Sectors	PEY	SCHD
Financial Services	22.0%	9.9%
Consumer Defensive	20.0%	20.6%
Industrials	15.5%	7.8%
Utilities	14.0%	0.1%
Consumer Cyclical	7.1%	7.7%
Communication Services	5.3%	6.2%
Healthcare	4.2%	20.8%
Basic Materials	4.0%	1.2%
Technology	2.6%	12.7%
Energy	1.6%	14.1%
Real Estate	-	-

Return for Risk

PEY vs. SCHD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PEY

PEY Risk / Return Rank: 71
PEY Sharpe Ratio Rank: 72
PEY Sortino Ratio Rank: 78
PEY Omega Ratio Rank: 66
PEY Calmar Ratio Rank: 75
PEY Martin Ratio Rank: 64

SCHD

SCHD Risk / Return Rank: 95
SCHD Sharpe Ratio Rank: 96
SCHD Sortino Ratio Rank: 96
SCHD Omega Ratio Rank: 94
SCHD Calmar Ratio Rank: 96
SCHD Martin Ratio Rank: 93

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PEY vs. SCHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco High Yield Equity Dividend Achievers™ ETF (PEY) and Schwab U.S. Dividend Equity ETF (SCHD). 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	SCHD	Difference
Sharpe ratio: Return per unit of total volatility	1.63	2.81	-1.18
Sortino ratio: Return per unit of downside risk	2.49	4.37	-1.88
Omega ratio: Gain probability vs. loss probability	1.28	1.51	-0.23
Calmar ratio: Return relative to maximum drawdown	2.62	6.74	-4.12
Martin ratio: Return relative to average drawdown	7.66	17.01	-9.36

PEY vs. SCHD - Sharpe Ratio Comparison

The current PEY Sharpe Ratio is 1.63, which is lower than the SCHD Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of PEY and SCHD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PEY vs. SCHD - Drawdown Comparison

The maximum PEY drawdown since its inception was -72.81%, which is greater than SCHD's maximum drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for PEY and SCHD.

Drawdown Indicators

	PEY	SCHD	Difference
Max Drawdown Largest peak-to-trough decline	-72.81%	-33.37%	-39.44%
Max Drawdown (1Y) Largest decline over 1 year	-8.88%	-4.61%	-4.27%
Max Drawdown (3Y) Largest decline over 3 years	-17.90%	-16.13%	-1.77%
Max Drawdown (5Y) Largest decline over 5 years	-17.90%	-16.85%	-1.05%
Max Drawdown (10Y) Largest decline over 10 years	-41.55%	-33.37%	-8.18%
Current Drawdown Current decline from peak	-2.76%	-1.24%	-1.52%
Average Drawdown Average peak-to-trough decline	-12.79%	-3.30%	-9.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.03%	1.82%	+1.21%

Volatility

PEY vs. SCHD - Volatility Comparison

Invesco High Yield Equity Dividend Achievers™ ETF (PEY) has a higher volatility of 5.27% compared to Schwab U.S. Dividend Equity ETF (SCHD) at 4.11%. This indicates that PEY's price experiences larger fluctuations and is considered to be riskier than SCHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PEY	SCHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.27%	4.11%	+1.16%
Volatility (6M) Calculated over the trailing 6-month period	10.05%	8.11%	+1.94%
Volatility (1Y) Calculated over the trailing 1-year period	14.27%	11.13%	+3.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.45%	14.39%	+2.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.91%	16.72%	+2.19%

PEY vs. SCHD - Expense Ratio Comparison

PEY has a 0.54% expense ratio, which is higher than SCHD's 0.06% expense ratio.

Dividends

PEY vs. SCHD - Dividend Comparison

PEY's dividend yield for the trailing twelve months is around 4.26%, more than SCHD's 3.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PEY Invesco High Yield Equity Dividend Achievers™ ETF	4.26%	4.85%	4.44%	4.58%	4.22%	3.83%	4.30%	3.78%	4.33%	3.21%	3.12%	3.44%
SCHD Schwab U.S. Dividend Equity ETF	3.13%	3.82%	3.64%	3.49%	3.39%	2.78%	3.16%	2.98%	3.06%	2.63%	2.89%	2.97%

Frequently Asked Questions

Can I hold both PEY and SCHD in my portfolio?

PEY and SCHD have a correlation of 0.75, 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 SCHD?

PEY has higher volatility (5.27%) compared to SCHD (4.11%). In terms of maximum drawdown, PEY dropped -72.81% vs SCHD's -33.37%.

Which ETF is better, PEY or SCHD?

On 10-year performance, SCHD leads with 12.76% vs 9.05% for PEY. On fees, SCHD is cheaper at 0.06% per year. On volatility, SCHD has been the lower-risk option at 4.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PEY or SCHD?

Over the 10-year period, SCHD has performed better with a 12.76% return vs 9.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PEY or SCHD?

SCHD is cheaper with a 0.06% expense ratio, compared with 0.54% for PEY.

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

PEY has the higher dividend yield at 4.26%, compared with 3.13% for SCHD.

What is the main difference between PEY and SCHD?

PEY is categorized as Mid Cap Value Equities, while SCHD is Dividend. PEY tracks NASDAQ US Dividend Achievers 50 Index, while SCHD tracks Dow Jones U.S. Dividend 100 Index. They also come from different issuers: Invesco and Charles Schwab. Their fees differ too: 0.54% for PEY and 0.06% for SCHD.

Which has better risk-adjusted returns?

SCHD currently has the higher Sharpe Ratio (2.81 vs 1.63), 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.