PEY vs. SYLD

Last updated Jul 14, 2026

PEY (Invesco High Yield Equity Dividend Achievers™ ETF) and SYLD (Cambria Shareholder Yield ETF) are both Mid Cap Value Equities funds. PEY is passively managed, while SYLD is actively managed. Over the past 10 years, PEY returned 8.62%/yr vs 13.25%/yr for SYLD. Their correlation of 0.81 suggests significant overlap in exposure. PEY charges 0.54%/yr vs 0.59%/yr for SYLD.

Performance

PEY vs. SYLD - Performance Comparison

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

Returns By Period

In the year-to-date period, PEY achieves a 19.77% return, which is significantly higher than SYLD's 18.12% return. Over the past 10 years, PEY has underperformed SYLD with an annualized return of 8.62%, while SYLD has yielded a comparatively higher 13.25% annualized return.

PEY

• 1D: 0.64%
• 1M: 2.39%
• 6M: 15.42%
• YTD: 19.77%
• 1Y: 17.53%
• 3Y*: 12.29%
• 5Y*: 8.01%
• 10Y*: 8.62%

SYLD

• 1D: 0.96%
• 1M: 0.80%
• 6M: 12.45%
• YTD: 18.12%
• 1Y: 22.95%
• 3Y*: 11.71%
• 5Y*: 8.10%
• 10Y*: 13.25%

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

PEY vs. SYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PEY Invesco High Yield Equity Dividend Achievers™ ETF	19.77%	0.56%	5.25%	7.29%	2.45%	26.15%	-3.85%	24.76%	-7.49%	8.78%
SYLD Cambria Shareholder Yield ETF	18.12%	3.94%	3.37%	16.46%	-6.14%	48.59%	13.61%	26.98%	-13.51%	20.03%

Correlation

The correlation between PEY and SYLD is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since May 14, 2013	0.81

The correlation between PEY and SYLD has been stable across timeframes, ranging from 0.80 to 0.81 - a consistent structural relationship.

PEY vs. SYLD - Sectors Allocation Comparison

Sectors	PEY	SYLD
Financial Services	22.3%	22.7%
Industrials	17.6%	8.3%
Consumer Defensive	16.2%	6.7%
Utilities	11.6%	-
Consumer Cyclical	8.3%	23.5%
Healthcare	6.1%	5.7%
Communication Services	5.6%	6.0%
Basic Materials	5.4%	8.0%
Technology	5.1%	2.1%
Energy	1.3%	17.1%
Real Estate	-	-

Return for Risk

PEY vs. SYLD — Risk / Return Rank

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

PEY

PEY Risk / Return Rank: 45
PEY Sharpe Ratio Rank: 44
PEY Sortino Ratio Rank: 47
PEY Omega Ratio Rank: 40
PEY Calmar Ratio Rank: 50
PEY Martin Ratio Rank: 43

SYLD

SYLD Risk / Return Rank: 63
SYLD Sharpe Ratio Rank: 55
SYLD Sortino Ratio Rank: 61
SYLD Omega Ratio Rank: 53
SYLD Calmar Ratio Rank: 80
SYLD Martin Ratio Rank: 63

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. SYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco High Yield Equity Dividend Achievers™ ETF (PEY) and Cambria Shareholder Yield ETF (SYLD). 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	SYLD	Difference
Sharpe ratio: Return per unit of total volatility	1.25	1.50	-0.25
Sortino ratio: Return per unit of downside risk	1.92	2.30	-0.38
Omega ratio: Gain probability vs. loss probability	1.21	1.26	-0.05
Calmar ratio: Return relative to maximum drawdown	1.98	3.33	-1.34
Martin ratio: Return relative to average drawdown	5.55	8.96	-3.40

PEY vs. SYLD - Sharpe Ratio Comparison

The current PEY Sharpe Ratio is 1.25, which is comparable to the SYLD Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of PEY and SYLD, 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. SYLD - Drawdown Comparison

The maximum PEY drawdown since its inception was -72.81%, which is greater than SYLD's maximum drawdown of -45.36%. Use the drawdown chart below to compare losses from any high point for PEY and SYLD.

Drawdown Indicators

	PEY	SYLD	Difference
Max Drawdown Largest peak-to-trough decline	-72.81%	-45.36%	-27.45%
Max Drawdown (1Y) Largest decline over 1 year	-8.88%	-6.93%	-1.95%
Max Drawdown (3Y) Largest decline over 3 years	-17.90%	-26.62%	+8.72%
Max Drawdown (5Y) Largest decline over 5 years	-17.90%	-26.62%	+8.72%
Max Drawdown (10Y) Largest decline over 10 years	-41.55%	-45.36%	+3.81%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-12.82%	-5.63%	-7.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.17%	2.57%	+0.60%

Volatility

PEY vs. SYLD - Volatility Comparison

Invesco High Yield Equity Dividend Achievers™ ETF (PEY) has a higher volatility of 4.61% compared to Cambria Shareholder Yield ETF (SYLD) at 3.87%. This indicates that PEY's price experiences larger fluctuations and is considered to be riskier than SYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PEY	SYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.61%	3.87%	+0.74%
Volatility (6M) Calculated over the trailing 6-month period	9.65%	9.39%	+0.26%
Volatility (1Y) Calculated over the trailing 1-year period	14.06%	15.40%	-1.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.38%	20.37%	-3.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.87%	22.90%	-4.03%

PEY vs. SYLD - Expense Ratio Comparison

PEY has a 0.54% expense ratio, which is lower than SYLD's 0.59% expense ratio.

Dividends

PEY vs. SYLD - Dividend Comparison

PEY's dividend yield for the trailing twelve months is around 4.27%, more than SYLD's 1.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PEY Invesco High Yield Equity Dividend Achievers™ ETF	4.27%	4.85%	4.44%	4.58%	4.22%	3.83%	4.30%	3.78%	4.33%	3.21%	3.12%	3.44%
SYLD Cambria Shareholder Yield ETF	1.88%	2.25%	2.04%	1.92%	2.20%	2.37%	1.99%	2.08%	2.52%	1.57%	1.92%	6.93%

Frequently Asked Questions

Can I hold both PEY and SYLD in my portfolio?

PEY and SYLD have a correlation of 0.81, 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 SYLD?

PEY has higher volatility (4.61%) compared to SYLD (3.87%). In terms of maximum drawdown, PEY dropped -72.81% vs SYLD's -45.36%.

Which ETF is better, PEY or SYLD?

On 10-year performance, SYLD leads with 13.25% vs 8.62% for PEY. On fees, PEY is cheaper at 0.54% per year. On volatility, SYLD has been the lower-risk option at 3.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PEY or SYLD?

Over the 10-year period, SYLD has performed better with a 13.25% return vs 8.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PEY or SYLD?

PEY is cheaper with a 0.54% expense ratio, compared with 0.59% for SYLD.

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

PEY has the higher dividend yield at 4.27%, compared with 1.88% for SYLD.

What is the main difference between PEY and SYLD?

They also come from different issuers: Invesco and Cambria. Their fees differ too: 0.54% for PEY and 0.59% for SYLD.

Which has better risk-adjusted returns?

SYLD currently has the higher Sharpe Ratio (1.50 vs 1.25), 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.