PEY vs. VNQ
PEY (Invesco High Yield Equity Dividend Achievers™ ETF) and VNQ (Vanguard Real Estate ETF) are both exchange-traded funds - PEY is a Mid Cap Value Equities fund tracking the NASDAQ US Dividend Achievers 50 Index, while VNQ is a REIT fund tracking the MSCI US Investable Market Real Estate 25/50 Index. Both are passively managed. Over the past 10 years, PEY returned 8.73%/yr vs 5.44%/yr for VNQ. A 0.69 correlation means they provide meaningful diversification when combined. PEY charges 0.54%/yr vs 0.13%/yr for VNQ.
Performance
PEY vs. VNQ - Performance Comparison
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Returns By Period
In the year-to-date period, PEY achieves a 14.10% return, which is significantly higher than VNQ's 11.77% return. Over the past 10 years, PEY has outperformed VNQ with an annualized return of 8.73%, while VNQ has yielded a comparatively lower 5.44% annualized 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%
VNQ
- 1D
- 1.31%
- 1M
- 1.13%
- YTD
- 11.77%
- 6M
- 12.16%
- 1Y
- 11.59%
- 3Y*
- 11.30%
- 5Y*
- 2.83%
- 10Y*
- 5.44%
PEY vs. VNQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PEY Invesco High Yield Equity Dividend Achievers™ ETF | 14.10% | 0.56% | 5.25% | 7.29% | 2.45% | 26.15% | -3.85% | 24.76% | -7.49% | 8.78% |
VNQ Vanguard Real Estate ETF | 11.77% | 3.24% | 4.81% | 11.85% | -26.25% | 40.54% | -4.61% | 28.91% | -6.03% | 4.90% |
Correlation
The correlation between PEY and VNQ 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 (1Y) Calculated over the trailing 1-year period | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Dec 9, 2004 | 0.69 |
The correlation between PEY and VNQ has been stable across timeframes, ranging from 0.61 to 0.70 - a consistent structural relationship.
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Return for Risk
PEY vs. VNQ — Risk / Return Rank
PEY
VNQ
PEY vs. VNQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco High Yield Equity Dividend Achievers™ ETF (PEY) and Vanguard Real Estate ETF (VNQ). 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 | VNQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.41 | ||
| Sortino ratioReturn per unit of downside risk | +0.71 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.15 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | 1.40 | +0.61 |
| Martin ratioReturn relative to average drawdown | 5.59 | 4.37 | +1.22 |
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Drawdowns
PEY vs. VNQ - Drawdown Comparison
The maximum PEY drawdown since its inception was -72.81%, roughly equal to the maximum VNQ drawdown of -73.07%. Use the drawdown chart below to compare losses from any high point for PEY and VNQ.
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Drawdown Indicators
| PEY | VNQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.81% | -73.07% | +0.26% |
Max Drawdown (1Y)Largest decline over 1 year | -8.88% | -8.34% | -0.54% |
Max Drawdown (3Y)Largest decline over 3 years | -17.90% | -17.46% | -0.44% |
Max Drawdown (5Y)Largest decline over 5 years | -17.90% | -34.48% | +16.58% |
Max Drawdown (10Y)Largest decline over 10 years | -41.55% | -42.40% | +0.85% |
Current DrawdownCurrent decline from peak | -2.46% | -0.66% | -1.80% |
Average DrawdownAverage peak-to-trough decline | -12.85% | -13.60% | +0.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.17% | 2.66% | +0.51% |
Volatility
PEY vs. VNQ - Volatility Comparison
The current volatility for Invesco High Yield Equity Dividend Achievers™ ETF (PEY) is 4.05%, while Vanguard Real Estate ETF (VNQ) has a volatility of 5.19%. This indicates that PEY experiences smaller price fluctuations and is considered to be less risky than VNQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PEY | VNQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.05% | 5.19% | -1.14% |
Volatility (6M)Calculated over the trailing 6-month period | 9.55% | 10.20% | -0.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.17% | 13.84% | +0.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.36% | 18.86% | -2.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.88% | 20.75% | -1.87% |
PEY vs. VNQ - Expense Ratio Comparison
PEY has a 0.54% expense ratio, which is higher than VNQ's 0.13% expense ratio.
Dividends
PEY vs. VNQ - Dividend Comparison
PEY's dividend yield for the trailing twelve months is around 4.49%, more than VNQ's 3.56% 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% |
VNQ Vanguard Real Estate ETF | 3.56% | 3.92% | 3.85% | 3.95% | 3.91% | 2.56% | 3.93% | 3.39% | 4.74% | 4.23% | 4.82% | 3.92% |
Frequently Asked Questions
PEY and VNQ 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.
VNQ has higher volatility (5.19%) compared to PEY (4.05%). In terms of maximum drawdown, PEY dropped -72.81% vs VNQ's -73.07%.
On 10-year performance, PEY leads with 8.73% vs 5.44% for VNQ. On fees, VNQ is cheaper at 0.13% per year. On volatility, PEY has been the lower-risk option at 4.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PEY has performed better with a 8.73% return vs 5.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VNQ is cheaper with a 0.13% expense ratio, compared with 0.54% for PEY.
PEY has the higher dividend yield at 4.49%, compared with 3.56% for VNQ.
PEY is categorized as Mid Cap Value Equities, while VNQ is REIT. PEY tracks NASDAQ US Dividend Achievers 50 Index, while VNQ tracks MSCI US Investable Market Real Estate 25/50 Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.54% for PEY and 0.13% for VNQ.
PEY currently has the higher Sharpe Ratio (1.26 vs 0.85), 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.
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