PEY vs. SIHAX

Last updated Jun 4, 2026

PEY (Invesco High Yield Equity Dividend Achievers™ ETF) and SIHAX (Guggenheim High Yield Fund) are both funds - PEY is a Mid Cap Value Equities fund tracking the NASDAQ US Dividend Achievers 50 Index, while SIHAX is a High Yield Bonds fund managed by Guggenheim. Over the past 10 years, PEY returned 8.50%/yr vs 4.66%/yr for SIHAX. At a 0.30 correlation, their price movements are largely independent. PEY charges 0.54%/yr vs 1.05%/yr for SIHAX.

Performance

PEY vs. SIHAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco High Yield Equity Dividend Achievers™ ETF (PEY) and Guggenheim High Yield Fund (SIHAX). 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 SIHAX's 0.80% return. Over the past 10 years, PEY has outperformed SIHAX with an annualized return of 8.50%, while SIHAX has yielded a comparatively lower 4.66% annualized 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%

SIHAX

• 1D: 0.00%
• 1M: 0.62%
• YTD: 0.80%
• 6M: 1.33%
• 1Y: 4.96%
• 3Y*: 7.15%
• 5Y*: 3.30%
• 10Y*: 4.66%

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

PEY vs. SIHAX - 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%	8.78%
SIHAX Guggenheim High Yield Fund	0.80%	6.84%	6.93%	10.74%	-10.51%	4.36%	4.55%	11.26%	-3.17%	6.91%

Correlation

The correlation between PEY and SIHAX is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (10Y) Calculated over the trailing 10-year period	0.36
Correlation (All Time) Calculated using the full available price history since Dec 10, 2004	0.30

Return for Risk

PEY vs. SIHAX — 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

SIHAX

SIHAX Risk / Return Rank: 37
SIHAX Sharpe Ratio Rank: 31
SIHAX Sortino Ratio Rank: 47
SIHAX Omega Ratio Rank: 45
SIHAX Calmar Ratio Rank: 23
SIHAX Martin Ratio Rank: 39

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. SIHAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco High Yield Equity Dividend Achievers™ ETF (PEY) and Guggenheim High Yield Fund (SIHAX). 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	SIHAX	Difference
Sharpe ratio: Return per unit of total volatility	1.11	1.61	-0.51
Sortino ratio: Return per unit of downside risk	1.72	2.88	-1.15
Omega ratio: Gain probability vs. loss probability	1.19	1.37	-0.17
Calmar ratio: Return relative to maximum drawdown	1.75	1.78	-0.03
Martin ratio: Return relative to average drawdown	4.90	8.50	-3.60
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. SIHAX - Sharpe Ratio Comparison

The current PEY Sharpe Ratio is 1.11, which is lower than the SIHAX Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of PEY and SIHAX, 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	SIHAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.11	1.61	-0.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	0.76	-0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	1.02	-0.56
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	1.29	-1.01

Drawdowns

PEY vs. SIHAX - Drawdown Comparison

The maximum PEY drawdown since its inception was -72.81%, which is greater than SIHAX's maximum drawdown of -36.72%. Use the drawdown chart below to compare losses from any high point for PEY and SIHAX.

Drawdown Indicators

	PEY	SIHAX	Difference
Max Drawdown Largest peak-to-trough decline	-72.81%	-36.72%	-36.09%
Max Drawdown (1Y) Largest decline over 1 year	-8.88%	-2.86%	-6.02%
Max Drawdown (3Y) Largest decline over 3 years	-17.90%	-3.40%	-14.50%
Max Drawdown (5Y) Largest decline over 5 years	-17.90%	-13.95%	-3.95%
Max Drawdown (10Y) Largest decline over 10 years	-41.55%	-19.31%	-22.24%
Current Drawdown Current decline from peak	-1.64%	0.00%	-1.64%
Average Drawdown Average peak-to-trough decline	-12.88%	-2.62%	-10.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.17%	0.60%	+2.57%

Volatility

PEY vs. SIHAX - Volatility Comparison

Invesco High Yield Equity Dividend Achievers™ ETF (PEY) has a higher volatility of 3.82% compared to Guggenheim High Yield Fund (SIHAX) at 1.14%. This indicates that PEY's price experiences larger fluctuations and is considered to be riskier than SIHAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PEY	SIHAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.82%	1.14%	+2.68%
Volatility (6M) Calculated over the trailing 6-month period	9.30%	2.57%	+6.73%
Volatility (1Y) Calculated over the trailing 1-year period	14.09%	3.17%	+10.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.40%	4.39%	+12.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.90%	4.60%	+14.30%

PEY vs. SIHAX - Expense Ratio Comparison

PEY has a 0.54% expense ratio, which is lower than SIHAX's 1.05% expense ratio.

Dividends

PEY vs. SIHAX - Dividend Comparison

PEY's dividend yield for the trailing twelve months is around 4.52%, less than SIHAX's 6.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
SIHAX Guggenheim High Yield Fund	6.32%	6.39%	5.45%	4.91%	4.75%	3.70%	4.79%	5.44%	6.86%	5.53%	6.09%	7.53%

Frequently Asked Questions

Can I hold both PEY and SIHAX in my portfolio?

PEY and SIHAX have a correlation of 0.33, 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 SIHAX?

PEY has higher volatility (3.82%) compared to SIHAX (1.14%). In terms of maximum drawdown, PEY dropped -72.81% vs SIHAX's -36.72%.

Which has better risk-adjusted returns?

SIHAX currently has the higher Sharpe Ratio (1.61 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.