VCR vs. PEZ
VCR (Vanguard Consumer Discretionary ETF) and PEZ (Invesco DWA Consumer Cyclicals Momentum ETF) are both exchange-traded funds - VCR is a Consumer Discretionary Equities fund tracking the MSCI US Investable Market Consumer Discretionary 25/50 Index, while PEZ is a Momentum fund tracking the DWA Consumer Cyclicals Technical Leaders Index. Both are passively managed. Over the past 10 years, VCR returned 13.40%/yr vs 9.60%/yr for PEZ. Their correlation of 0.82 means they have usually moved in the same direction. VCR charges 0.10%/yr vs 0.60%/yr for PEZ.
Performance
VCR vs. PEZ - Performance Comparison
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Returns By Period
In the year-to-date period, VCR achieves a 1.85% return, which is significantly higher than PEZ's 0.24% return. Over the past 10 years, VCR has outperformed PEZ with an annualized return of 13.40%, while PEZ has yielded a comparatively lower 9.60% annualized return.
VCR
- 1D
- 2.14%
- 1M
- 1.04%
- 6M
- -0.18%
- YTD
- 1.85%
- 1Y
- 11.97%
- 3Y*
- 12.25%
- 5Y*
- 5.83%
- 10Y*
- 13.40%
- ALL TIME*
- 11.09%
PEZ
- 1D
- 1.68%
- 1M
- 2.01%
- 6M
- -0.74%
- YTD
- 0.24%
- 1Y
- 6.66%
- 3Y*
- 13.42%
- 5Y*
- 3.92%
- 10Y*
- 9.60%
- ALL TIME*
- 7.97%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $60.19K | $110.69K | $64.89K | |
| $24.52M | $25.91M | $23.87M |
VCR vs. PEZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VCR Vanguard Consumer Discretionary ETF | 1.85% | 5.77% | 24.27% | 40.38% | -35.15% | 24.86% | 48.36% | 27.45% | -2.31% | 22.82% |
PEZ Invesco DWA Consumer Cyclicals Momentum ETF | 0.24% | 5.40% | 20.06% | 29.55% | -29.59% | 20.35% | 38.97% | 18.05% | -6.85% | 19.87% |
Correlation
The correlation between VCR and PEZ is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.77 |
Correlation (3Y) Balances recent behavior with more history. | 0.78 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.79 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.78 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 2006 | 0.82 |
The correlation between VCR and PEZ has been stable across timeframes, ranging from 0.77 to 0.82 - a consistent structural relationship.
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Return for Risk
VCR vs. PEZ — Risk / Return Rank
VCR
PEZ
VCR vs. PEZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Consumer Discretionary ETF (VCR) and Invesco DWA Consumer Cyclicals Momentum ETF (PEZ). 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.
| VCR | PEZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.07 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.77 | 0.42 | +0.35 |
| Martin ratioReturn relative to average drawdown | 2.22 | 1.00 | +1.21 |
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Drawdowns
VCR vs. PEZ - Drawdown Comparison
The maximum VCR drawdown since its inception was -61.54%, which is greater than PEZ's maximum drawdown of -58.39%. Use the drawdown chart below to compare losses from any high point for VCR and PEZ.
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Drawdown Indicators
| VCR | PEZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.54% | -58.39% | -3.15% |
Max Drawdown (1Y)Largest decline over 1 year | -15.59% | -15.83% | +0.24% |
Max Drawdown (3Y)Largest decline over 3 years | -27.36% | -31.48% | +4.12% |
Max Drawdown (5Y)Largest decline over 5 years | -39.20% | -41.72% | +2.52% |
Max Drawdown (10Y)Largest decline over 10 years | -39.20% | -52.05% | +12.85% |
Current DrawdownCurrent decline from peak | -2.79% | -7.11% | +4.32% |
Average DrawdownAverage peak-to-trough decline | -9.37% | -13.82% | +4.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.41% | 6.66% | -1.25% |
Volatility
VCR vs. PEZ - Volatility Comparison
Vanguard Consumer Discretionary ETF (VCR) has a higher volatility of 7.05% compared to Invesco DWA Consumer Cyclicals Momentum ETF (PEZ) at 4.52%. This indicates that VCR's price experiences larger fluctuations and is considered to be riskier than PEZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCR | PEZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.05% | 4.52% | +2.53% |
Volatility (6M)Calculated over the trailing 6-month period | 14.91% | 14.80% | +0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.52% | 20.12% | -0.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.24% | 24.16% | +0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.51% | 25.07% | -2.56% |
VCR vs. PEZ - Expense Ratio Comparison
VCR has a 0.10% expense ratio, which is lower than PEZ's 0.60% expense ratio.
Dividends
VCR vs. PEZ - Dividend Comparison
VCR's dividend yield for the trailing twelve months is around 0.72%, more than PEZ's 0.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PEZ Invesco DWA Consumer Cyclicals Momentum ETF | 0.24% | 0.11% | 0.12% | 0.60% | 0.43% | 0.23% | 0.39% | 0.01% | 0.40% | 0.42% | 0.83% | 0.64% |
VCR Vanguard Consumer Discretionary ETF | 0.72% | 0.74% | 0.74% | 0.84% | 0.98% | 0.79% | 1.71% | 1.17% | 1.37% | 1.21% | 1.60% | 1.32% |
Frequently Asked Questions
VCR and PEZ have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VCR has higher volatility (7.05%) compared to PEZ (4.52%). In terms of maximum drawdown, VCR dropped -61.54% vs PEZ's -58.39%.
On 10-year performance, VCR leads with 13.40% vs 9.60% for PEZ. On fees, VCR is cheaper at 0.10% per year. On volatility, PEZ has been the lower-risk option at 4.52%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VCR has performed better with a 13.40% return vs 9.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VCR is cheaper with a 0.10% expense ratio, compared with 0.60% for PEZ.
VCR has the higher dividend yield at 0.72%, compared with 0.24% for PEZ.
VCR is categorized as Consumer Discretionary Equities, while PEZ is Momentum. VCR tracks MSCI US Investable Market Consumer Discretionary 25/50 Index, while PEZ tracks DWA Consumer Cyclicals Technical Leaders Index. They also come from different issuers: Vanguard and Invesco. Their fees differ too: 0.10% for VCR and 0.60% for PEZ.
VCR currently has the higher Sharpe Ratio (0.62 vs 0.33), 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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