PEY vs VYM
Invesco High Yield Equity Dividend Achievers ETF vs Vanguard High Dividend Yield ETF
Which is better, PEY or VYM?
Small Cap Value against Large Cap Value.
VYM has a lower expense ratio. VYM led over 1Y, 3Y, 5Y and the full window. VYM is less concentrated, with 26.1% of the fund in its ten largest positions against 30.7%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | PEY | VYM |
|---|---|---|
| Expense Ratio | 0.68% | 0.04%Best |
| AUM | $1.1B | $83.1B |
| Dividend Yield | 4.19% | 2.22% |
| Holdings | 106 | 608 |
| YTD Return | +15.37%Best | +10.00% |
| 1Y Return | +13.54% | +13.75%Best |
| 3Y Return (annualized) | +12.47% | +18.81%Best |
| 5Y Return (annualized) | +7.28% | +11.63%Best |
| Volatility (annualized) | 18.4% | 14.6%Best |
| Max Drawdown | -75.6% | -58.8%Best |
| $10,000 over 5 years | $14,210 | $17,334Best |
| Top 10 Weight | 30.7% | 26.1%Best |
| Fund Family | Invesco (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Small Cap Value | Large Cap Value |
| Inception | Dec 9, 2004 | Nov 10, 2006 |
Volatility and max drawdown are measured over the window both funds cover: Nov 16, 2006 to Oct 2, 2026 (19.9 years).
PEY vs VYM growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 19.9 years both funds cover.
PEY vs VYM Performance
Invesco High Yield Equity Dividend Achievers ETF (PEY) is an ETF from Invesco (US) and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year PEY returned +13.54% while VYM returned +13.75%. Year to date, PEY is up 15.37% versus a gain of 10.00% for VYM.
Over three years, PEY compounded at +12.47% per year against +18.81% for VYM; over five years the annualized figures are +7.28% and +11.63% respectively. Across the full 20-year window we track, VYM has the edge at +6.74% annualized vs +3.06%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PEY has been the more volatile fund, with annualized monthly volatility of 18.4% compared with 14.6% for VYM. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -75.6% for PEY and -58.8% for VYM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.87. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PEY charges 0.68% per year while VYM charges 0.04%. On a $10,000 position that is $68 vs $4 annually, a gap of $64 per year that compounds over a long holding period. On income, PEY currently yields 4.19% against 2.22% for VYM.
Holdings Overlap
89.9% of PEY's money is in holdings VYM also owns. 6.8% of VYM's money is in holdings PEY also owns.
Most of PEY is already inside VYM. Owning both mostly buys the same companies twice.
The two holdings books were reported 46 days apart, PEY as of Sep 15, 2026 and VYM as of Jul 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
45 positions in common, counted across the 51 positions we hold weights for in PEY and 557 in VYM, against full books of 106 and 608.
What only one of them owns
Our book lists 484 positions for VYM that do not appear in our book for PEY (90.3% of the fund), and 6 for PEY that do not appear in VYM (10.1%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in PEY | Weight in VYM | Difference |
|---|---|---|---|
| PRGOPerrigo Company Plc Ordinary Shares | 4.76% | 0.01% | 4.75% |
| RHIRobert Half International Inc. | 3.99% | 0.02% | 3.97% |
| NSPInsperity Inc | 3.89% | 0.01% | 3.88% |
| PFEPfizer Inc | 2.67% | 0.58% | 2.09% |
| CVXChevron Corp | 1.72% | 1.48% | 0.24% |
| VZVerizon Communications Inc Vz | 2.35% | 0.80% | 1.55% |
| FLOFlowers Foods Inc | 3.07% | 0.01% | 3.06% |
| MOAltria Group Inc. | 2.29% | 0.46% | 1.83% |
| LYBLyondellbasell-a | 2.64% | 0.06% | 2.58% |
| PRUPrudential Financial Inc | 2.48% | 0.17% | 2.31% |
89.9% of PEY is already inside VYM.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, PEY or VYM?
PEY has an expense ratio of 0.68% while VYM charges 0.04%. VYM is the cheaper option, by $64 a year on a $10,000 investment.
Which performed better, PEY or VYM?
Over the past year PEY returned +13.54% vs +13.75% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (20 years), PEY annualized +3.06% vs +6.74% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PEY or VYM?
PEY has been the more volatile fund at 18.4% annualized versus 14.6% for VYM. Worst drawdown: PEY -75.6% vs VYM -58.8%.
Should I hold both PEY and VYM?
PEY and VYM have a monthly-return correlation of 0.87, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between PEY and VYM?
89.9% of PEY's money is in holdings VYM also owns. 6.8% of VYM's is in holdings PEY also owns. They hold 45 positions in common, counted across the 51 positions we hold weights for in PEY and 557 in VYM.
Which pays a higher dividend, PEY or VYM?
PEY yields 4.19% while VYM yields 2.22%, so PEY currently pays the higher dividend yield.
Is VYM better than PEY?
VYM has a lower expense ratio. VYM led over 1Y, 3Y, 5Y and the full window. VYM is less concentrated, with 26.1% of the fund in its ten largest positions against 30.7%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.