PEY vs. VEGI

Last updated Jun 4, 2026

PEY (Invesco High Yield Equity Dividend Achievers™ ETF) and VEGI (iShares MSCI Agriculture Producers ETF) are both Mid Cap Value Equities funds - PEY tracks the NASDAQ US Dividend Achievers 50 Index while VEGI tracks the MSCI ACWI Select Agriculture Producers Investable Market Index. Both are passively managed. Over the past 10 years, PEY returned 8.50%/yr vs 8.58%/yr for VEGI. A 0.65 correlation means they provide meaningful diversification when combined. PEY charges 0.54%/yr vs 0.39%/yr for VEGI.

Performance

PEY vs. VEGI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco High Yield Equity Dividend Achievers™ ETF (PEY) and iShares MSCI Agriculture Producers ETF (VEGI). 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 lower than VEGI's 16.98% return. Both investments have delivered pretty close results over the past 10 years, with PEY having a 8.50% annualized return and VEGI not far ahead at 8.58%.

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%

VEGI

• 1D: 0.58%
• 1M: -1.31%
• YTD: 16.98%
• 6M: 16.00%
• 1Y: 14.94%
• 3Y*: 8.09%
• 5Y*: 3.61%
• 10Y*: 8.58%

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

PEY vs. VEGI - 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%
VEGI iShares MSCI Agriculture Producers ETF	16.98%	11.34%	-4.85%	-8.59%	6.34%	21.56%	20.06%	13.52%	-9.76%	19.79%

Correlation

The correlation between PEY and VEGI is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since Feb 3, 2012	0.65

The correlation between PEY and VEGI shifts across timeframes, from 0.50 (1 year) to 0.67 (10 years), reflecting how their relationship changes across market environments.

PEY vs. VEGI - Sectors Allocation Comparison

Sectors	PEY	VEGI
Financial Services	21.7%	-
Consumer Defensive	16.9%	33.3%
Industrials	15.0%	34.2%
Utilities	12.0%	-
Consumer Cyclical	7.5%	-
Healthcare	6.8%	-
Technology	6.5%	-
Basic Materials	6.4%	31.7%
Communication Services	5.7%	-
Energy	1.5%	-
Real Estate	-	-

Return for Risk

PEY vs. VEGI — 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

VEGI

VEGI Risk / Return Rank: 30
VEGI Sharpe Ratio Rank: 28
VEGI Sortino Ratio Rank: 29
VEGI Omega Ratio Rank: 27
VEGI Calmar Ratio Rank: 40
VEGI Martin Ratio Rank: 27

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. VEGI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco High Yield Equity Dividend Achievers™ ETF (PEY) and iShares MSCI Agriculture Producers ETF (VEGI). 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	VEGI	Difference
Sharpe ratio Return per unit of total volatility	1.11	1.02	+0.09
Sortino ratio Return per unit of downside risk	1.72	1.57	+0.15
Omega ratio Gain probability vs. loss probability	1.19	1.18	+0.01
Calmar ratio Return relative to maximum drawdown	1.75	2.00	-0.25
Martin ratio Return relative to average drawdown	4.90	3.86	+1.05
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. VEGI - Sharpe Ratio Comparison

The current PEY Sharpe Ratio is 1.11, which is comparable to the VEGI Sharpe Ratio of 1.02. The chart below compares the historical Sharpe Ratios of PEY and VEGI, 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	VEGI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.11	1.02	+0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	0.20	+0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.45	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.34	-0.06

Drawdowns

PEY vs. VEGI - Drawdown Comparison

The maximum PEY drawdown since its inception was -72.81%, which is greater than VEGI's maximum drawdown of -37.37%. Use the drawdown chart below to compare losses from any high point for PEY and VEGI.

Drawdown Indicators

	PEY	VEGI	Difference
Max Drawdown Largest peak-to-trough decline	-72.81%	-37.37%	-35.44%
Max Drawdown (1Y) Largest decline over 1 year	-8.88%	-7.49%	-1.39%
Max Drawdown (3Y) Largest decline over 3 years	-17.90%	-17.71%	-0.19%
Max Drawdown (5Y) Largest decline over 5 years	-17.90%	-28.86%	+10.96%
Max Drawdown (10Y) Largest decline over 10 years	-41.55%	-37.37%	-4.18%
Current Drawdown Current decline from peak	-1.64%	-4.33%	+2.69%
Average Drawdown Average peak-to-trough decline	-12.88%	-9.82%	-3.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.17%	3.88%	-0.71%

Volatility

PEY vs. VEGI - Volatility Comparison

The current volatility for Invesco High Yield Equity Dividend Achievers™ ETF (PEY) is 3.82%, while iShares MSCI Agriculture Producers ETF (VEGI) has a volatility of 4.52%. This indicates that PEY experiences smaller price fluctuations and is considered to be less risky than VEGI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PEY	VEGI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.82%	4.52%	-0.70%
Volatility (6M) Calculated over the trailing 6-month period	9.30%	11.80%	-2.50%
Volatility (1Y) Calculated over the trailing 1-year period	14.09%	14.75%	-0.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.40%	17.88%	-1.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.90%	18.94%	-0.04%

PEY vs. VEGI - Expense Ratio Comparison

PEY has a 0.54% expense ratio, which is higher than VEGI's 0.39% expense ratio.

Dividends

PEY vs. VEGI - Dividend Comparison

PEY's dividend yield for the trailing twelve months is around 4.52%, more than VEGI's 1.99% 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%
VEGI iShares MSCI Agriculture Producers ETF	1.99%	2.33%	2.62%	2.54%	1.49%	1.46%	1.55%	1.84%	2.02%	1.75%	2.13%	2.49%

Frequently Asked Questions

Can I hold both PEY and VEGI in my portfolio?

PEY and VEGI have a correlation of 0.50, 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 VEGI?

VEGI has higher volatility (4.52%) compared to PEY (3.82%). In terms of maximum drawdown, PEY dropped -72.81% vs VEGI's -37.37%.

Which ETF is better, PEY or VEGI?

On 10-year performance, VEGI leads with 8.58% vs 8.50% for PEY. On fees, VEGI is cheaper at 0.39% per year. On volatility, PEY has been the lower-risk option at 3.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PEY or VEGI?

Over the 10-year period, VEGI has performed better with a 8.58% return vs 8.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PEY or VEGI?

VEGI is cheaper with a 0.39% expense ratio, compared with 0.54% for PEY.

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

PEY has the higher dividend yield at 4.52%, compared with 1.99% for VEGI.

What is the main difference between PEY and VEGI?

PEY tracks NASDAQ US Dividend Achievers 50 Index, while VEGI tracks MSCI ACWI Select Agriculture Producers Investable Market Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.54% for PEY and 0.39% for VEGI.

Which has better risk-adjusted returns?

PEY currently has the higher Sharpe Ratio (1.11 vs 1.02), 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.