PIE vs VYM
Invesco Dorsey Wright Emerging Markets Momentum ETF vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM has a lower expense ratio. PIE delivered stronger 1-year returns. VYM offers more diversification with 558 holdings.
Side-by-Side Comparison
| Metric | PIE | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.90% | 0.04% | |
| AUM | $237M | $79.0B | |
| Dividend Yield | 1.71% | 2.86% | |
| Holdings | 113 | 568 | |
| YTD Return | +36.53% | +15.80% | |
| 1Y Return | +49.36% | +26.12% | |
| 3Y Return (annualized) | +21.36% | +18.25% | |
| 5Y Return (annualized) | +7.36% | +12.51% | |
| Volatility (annualized) | 22.8% | 14.6% | |
| Max Drawdown | -73.1% | -58.8% | |
| Fund Family | Invesco (US) | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Dec 28, 2007 | Nov 10, 2006 |
PIE vs VYM Performance
Invesco Dorsey Wright Emerging Markets Momentum ETF (PIE) is a ETF from Invesco (US) and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year PIE returned +49.36% while VYM returned +26.12%. Year to date, PIE is up 36.53% versus a gain of 15.80% for VYM.
Over three years, PIE compounded at +21.36% per year against +18.25% for VYM; over five years the annualized figures are +7.36% and +12.51% respectively. Across the full 19-year window we track, VYM has the edge at +7.07% annualized vs +2.06%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PIE has been the more volatile fund, with annualized monthly volatility of 22.8% 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 -73.1% for PIE and -58.8% for VYM. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.68. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PIE charges 0.90% per year while VYM charges 0.04%. On a $10,000 position that is $90 vs $4 annually, a gap of $86 per year that compounds over a long holding period. On income, PIE currently yields 1.71% against 2.86% for VYM.
Holdings Overlap
PIE and VYM share 1 holdings out of 659 unique holdings combined, representing a 0.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in PIE | Weight in VYM | Difference |
|---|---|---|---|
| BAP:BM | 0.56% | 0.10% | 0.46% |
Frequently Asked Questions
Which is cheaper, PIE or VYM?
PIE has an expense ratio of 0.90% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $86 per year of difference.
Which performed better, PIE or VYM?
Over the past year PIE returned +49.36% vs +26.12% for VYM, so PIE leads on 1-year performance. Over the longest common window we track (19 years), PIE annualized +2.06% vs +7.07% for VYM. Past performance does not guarantee future results.
Which is riskier, PIE or VYM?
PIE has been the more volatile fund at 22.8% annualized versus 14.6% for VYM. Worst drawdown: PIE -73.1% vs VYM -58.8%.
Should I hold both PIE and VYM?
PIE and VYM have a monthly-return correlation of 0.68, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PIE and VYM?
PIE and VYM share 1 common holdings with a 0.1% weight overlap. Combined, they hold 659 unique securities.
Which pays a higher dividend, PIE or VYM?
PIE yields 1.71% while VYM yields 2.86%, so VYM currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.