PEY vs. TMVE

Last updated Jun 24, 2026

PEY (Invesco High Yield Equity Dividend Achievers™ ETF) and TMVE (Thrivent Mid Cap Value ETF) are both Mid Cap Value Equities funds - PEY tracks the NASDAQ US Dividend Achievers 50 Index while TMVE tracks the Actively Managed. Both are passively managed. A 0.61 correlation means they provide meaningful diversification when combined. PEY charges 0.54%/yr vs 0.55%/yr for TMVE.

Performance

PEY vs. TMVE - Performance Comparison

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

Returns By Period

In the year-to-date period, PEY achieves a 14.10% return, which is significantly lower than TMVE's 17.39% 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%

TMVE

• 1D: -0.32%
• 1M: 3.25%
• YTD: 17.39%
• 6M: 16.23%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PEY vs. TMVE - Yearly Performance Comparison

	2026 (YTD)	2025
PEY Invesco High Yield Equity Dividend Achievers™ ETF	14.10%	1.86%
TMVE Thrivent Mid Cap Value ETF	17.39%	6.04%

Correlation

The correlation between PEY and TMVE is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 17, 2025	0.61

Return for Risk

PEY vs. TMVE — Risk / Return Rank

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

PEY

PEY Risk / Return Rank: 37
PEY Sharpe Ratio Rank: 36
PEY Sortino Ratio Rank: 39
PEY Omega Ratio Rank: 33
PEY Calmar Ratio Rank: 42
PEY Martin Ratio Rank: 37

TMVE

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. TMVE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco High Yield Equity Dividend Achievers™ ETF (PEY) and Thrivent Mid Cap Value ETF (TMVE). 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	TMVE	Difference
Sharpe ratio: Return per unit of total volatility	1.26	—	—
Sortino ratio: Return per unit of downside risk	1.94	—	—
Omega ratio: Gain probability vs. loss probability	1.22	—	—
Calmar ratio: Return relative to maximum drawdown	2.00	—	—
Martin ratio: Return relative to average drawdown	5.59	—	—

Drawdowns

PEY vs. TMVE - Drawdown Comparison

The maximum PEY drawdown since its inception was -72.81%, which is greater than TMVE's maximum drawdown of -8.21%. Use the drawdown chart below to compare losses from any high point for PEY and TMVE.

Drawdown Indicators

	PEY	TMVE	Difference
Max Drawdown Largest peak-to-trough decline	-72.81%	-8.21%	-64.60%
Max Drawdown (1Y) Largest decline over 1 year	-8.88%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-17.90%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-17.90%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-41.55%	—	—
Current Drawdown Current decline from peak	-2.46%	-0.69%	-1.77%
Average Drawdown Average peak-to-trough decline	-12.85%	-1.43%	-11.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.17%	—	—

Volatility

Volatility by Period

	PEY	TMVE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.05%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.55%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.17%	13.81%	+0.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.36%	13.81%	+2.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.88%	13.81%	+5.07%

PEY vs. TMVE - Expense Ratio Comparison

PEY has a 0.54% expense ratio, which is lower than TMVE's 0.55% expense ratio.

Dividends

PEY vs. TMVE - Dividend Comparison

PEY's dividend yield for the trailing twelve months is around 4.49%, more than TMVE's 0.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
TMVE Thrivent Mid Cap Value ETF	0.10%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PEY and TMVE in my portfolio?

PEY and TMVE have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PEY or TMVE?

On fees, PEY is cheaper at 0.54% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PEY or TMVE?

PEY is cheaper with a 0.54% expense ratio, compared with 0.55% for TMVE.

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

PEY has the higher dividend yield at 4.49%, compared with 0.10% for TMVE.

What is the main difference between PEY and TMVE?

PEY tracks NASDAQ US Dividend Achievers 50 Index, while TMVE tracks Actively Managed. They also come from different issuers: Invesco and Thrivent. Their fees differ too: 0.54% for PEY and 0.55% for TMVE.