PXF vs. VYMI

Last updated Jun 24, 2026

PXF (Invesco FTSE RAFI Developed Markets ex-U.S. ETF) and VYMI (Vanguard International High Dividend Yield ETF) are both exchange-traded funds - PXF is a Foreign Large Cap Equities fund tracking the FTSE RAFI Developed Markets ex-U.S. Index, while VYMI is a Dividend fund tracking the FTSE All-World ex US High Dividend Yield Index. Both are passively managed. Over the past 10 years, PXF returned 12.13%/yr vs 11.21%/yr for VYMI. With a 0.96 correlation, they move nearly in lockstep. PXF charges 0.45%/yr vs 0.07%/yr for VYMI.

Performance

PXF vs. VYMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF) and Vanguard International High Dividend Yield ETF (VYMI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PXF achieves a 15.96% return, which is significantly higher than VYMI's 11.38% return. Over the past 10 years, PXF has outperformed VYMI with an annualized return of 12.13%, while VYMI has yielded a comparatively lower 11.21% annualized return.

PXF

• 1D: -2.82%
• 1M: -1.23%
• YTD: 15.96%
• 6M: 16.38%
• 1Y: 38.71%
• 3Y*: 23.69%
• 5Y*: 13.10%
• 10Y*: 12.13%

VYMI

• 1D: -1.23%
• 1M: -0.28%
• YTD: 11.38%
• 6M: 11.17%
• 1Y: 30.40%
• 3Y*: 21.85%
• 5Y*: 12.40%
• 10Y*: 11.21%

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

PXF vs. VYMI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF	15.96%	42.51%	4.54%	18.46%	-9.09%	15.93%	2.58%	17.50%	-14.84%	24.52%
VYMI Vanguard International High Dividend Yield ETF	11.38%	38.05%	7.06%	17.07%	-7.02%	15.39%	-1.11%	18.43%	-12.65%	22.36%

Correlation

The correlation between PXF and VYMI is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Mar 2, 2016	0.96

The correlation between PXF and VYMI has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

PXF vs. VYMI - Sectors Allocation Comparison

Sectors	PXF	VYMI
Financial Services	19.1%	40.7%
Technology	14.7%	5.2%
Industrials	14.6%	6.2%
Consumer Cyclical	10.4%	6.4%
Basic Materials	10.1%	6.9%
Energy	9.5%	8.6%
Healthcare	6.8%	6.5%
Consumer Defensive	5.7%	6.7%
Communication Services	4.3%	3.7%
Utilities	3.2%	5.0%
Real Estate	1.6%	1.3%

Return for Risk

PXF vs. VYMI — Risk / Return Rank

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

PXF

PXF Risk / Return Rank: 75
PXF Sharpe Ratio Rank: 78
PXF Sortino Ratio Rank: 73
PXF Omega Ratio Rank: 77
PXF Calmar Ratio Rank: 74
PXF Martin Ratio Rank: 74

VYMI

VYMI Risk / Return Rank: 70
VYMI Sharpe Ratio Rank: 75
VYMI Sortino Ratio Rank: 73
VYMI Omega Ratio Rank: 74
VYMI Calmar Ratio Rank: 63
VYMI Martin Ratio Rank: 67

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.

PXF vs. VYMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF) and Vanguard International High Dividend Yield ETF (VYMI). 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.

	PXF	VYMI	Difference
Sharpe ratio: Return per unit of total volatility	2.37	2.30	+0.07
Sortino ratio: Return per unit of downside risk	3.10	3.14	-0.04
Omega ratio: Gain probability vs. loss probability	1.43	1.42	+0.01
Calmar ratio: Return relative to maximum drawdown	3.56	3.01	+0.55
Martin ratio: Return relative to average drawdown	13.32	11.81	+1.51

PXF vs. VYMI - Sharpe Ratio Comparison

The current PXF Sharpe Ratio is 2.37, which is comparable to the VYMI Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of PXF and VYMI, 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

PXF vs. VYMI - Drawdown Comparison

The maximum PXF drawdown since its inception was -64.74%, which is greater than VYMI's maximum drawdown of -40.00%. Use the drawdown chart below to compare losses from any high point for PXF and VYMI.

Drawdown Indicators

	PXF	VYMI	Difference
Max Drawdown Largest peak-to-trough decline	-64.74%	-40.00%	-24.74%
Max Drawdown (1Y) Largest decline over 1 year	-10.91%	-10.14%	-0.77%
Max Drawdown (3Y) Largest decline over 3 years	-14.06%	-12.84%	-1.22%
Max Drawdown (5Y) Largest decline over 5 years	-26.82%	-24.05%	-2.77%
Max Drawdown (10Y) Largest decline over 10 years	-41.59%	-40.00%	-1.59%
Current Drawdown Current decline from peak	-4.37%	-1.97%	-2.40%
Average Drawdown Average peak-to-trough decline	-15.24%	-6.28%	-8.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.92%	2.58%	+0.34%

Volatility

PXF vs. VYMI - Volatility Comparison

Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF) has a higher volatility of 6.95% compared to Vanguard International High Dividend Yield ETF (VYMI) at 4.14%. This indicates that PXF's price experiences larger fluctuations and is considered to be riskier than VYMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PXF	VYMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.95%	4.14%	+2.81%
Volatility (6M) Calculated over the trailing 6-month period	14.28%	11.20%	+3.08%
Volatility (1Y) Calculated over the trailing 1-year period	16.41%	13.27%	+3.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.64%	14.87%	+1.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.81%	16.61%	+1.20%

PXF vs. VYMI - Expense Ratio Comparison

PXF has a 0.45% expense ratio, which is higher than VYMI's 0.07% expense ratio.

Dividends

PXF vs. VYMI - Dividend Comparison

PXF's dividend yield for the trailing twelve months is around 3.17%, less than VYMI's 3.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF	3.17%	3.64%	3.48%	3.55%	3.58%	3.74%	2.11%	3.50%	3.38%	2.78%	3.21%	3.10%
VYMI Vanguard International High Dividend Yield ETF	3.67%	3.68%	4.84%	4.58%	4.70%	4.30%	3.22%	4.20%	4.29%	3.21%	2.39%	0.00%

Frequently Asked Questions

Can I hold both PXF and VYMI in my portfolio?

With a correlation of 0.92, PXF and VYMI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, PXF or VYMI?

PXF has higher volatility (6.95%) compared to VYMI (4.14%). In terms of maximum drawdown, PXF dropped -64.74% vs VYMI's -40.00%.

Which ETF is better, PXF or VYMI?

On 10-year performance, PXF leads with 12.13% vs 11.21% for VYMI. On fees, VYMI is cheaper at 0.07% per year. On volatility, VYMI has been the lower-risk option at 4.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PXF or VYMI?

Over the 10-year period, PXF has performed better with a 12.13% return vs 11.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PXF or VYMI?

VYMI is cheaper with a 0.07% expense ratio, compared with 0.45% for PXF.

Which ETF pays a higher dividend yield, PXF or VYMI?

VYMI has the higher dividend yield at 3.67%, compared with 3.17% for PXF.

What is the main difference between PXF and VYMI?

PXF is categorized as Foreign Large Cap Equities, while VYMI is Dividend. PXF tracks FTSE RAFI Developed Markets ex-U.S. Index, while VYMI tracks FTSE All-World ex US High Dividend Yield Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.45% for PXF and 0.07% for VYMI.

Which has better risk-adjusted returns?

PXF currently has the higher Sharpe Ratio (2.37 vs 2.30), 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.