PIE vs VYM
Invesco Dorsey Wright Emerging Markets Momentum ETF vs Vanguard High Dividend Yield ETF
Which is better, PIE or VYM?
Large Cap Growth against Large Cap Value.
VYM has a lower expense ratio. PIE led over 1Y and 3Y, VYM over 5Y and the full window. PIE is less concentrated, with 24.5% of the fund in its ten largest positions against 26.1%.
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 | PIE | VYM |
|---|---|---|
| Expense Ratio | 0.90% | 0.04%Best |
| AUM | $254M | $81.6B |
| Dividend Yield | 1.69% | 2.22% |
| Holdings | 115 | 613 |
| YTD Return | +42.88%Best | +11.35% |
| 1Y Return | +42.34%Best | +15.34% |
| 3Y Return (annualized) | +24.61%Best | +17.22% |
| 5Y Return (annualized) | +9.49% | +12.30%Best |
| Volatility (annualized) | 22.9% | 14.8%Best |
| Max Drawdown | -73.1% | -55.4%Best |
| $10,000 over 5 years | $15,735 | $17,861Best |
| Top 10 Weight | 24.5%Best | 26.1% |
| Fund Family | Invesco (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Value |
| Inception | Dec 28, 2007 | Nov 10, 2006 |
Volatility and max drawdown are measured over the window both funds cover: Dec 28, 2007 to Sep 18, 2026 (18.7 years).
PIE 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 18.7 years both funds cover.
PIE vs VYM Performance
Invesco Dorsey Wright Emerging Markets Momentum ETF (PIE) is an ETF from Invesco (US) and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year PIE returned +42.34% while VYM returned +15.34%. Year to date, PIE is up 42.88% versus a gain of 11.35% for VYM.
Over three years, PIE compounded at +24.61% per year against +17.22% for VYM; over five years the annualized figures are +9.49% and +12.30% respectively. Across the full 19-year window we track, VYM has the edge at +7.13% annualized vs +2.30%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PIE has been the more volatile fund, with annualized monthly volatility of 22.9% compared with 14.8% 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 -55.4% 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 0.68. They move together some of the time, and apart the rest.
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 1.69% against 2.22% for VYM.
Holdings Overlap
0.7% of PIE's money is in holdings VYM also owns. 0.1% of VYM's money is in holdings PIE also owns.
We cannot see either book well enough to say how much of this pair is duplicated.
1 positions in common, counted across the 99 positions we hold weights for in PIE and 557 in VYM, against full books of 115 and 613.
What only one of them owns
Our book lists 527 positions for VYM that do not appear in our book for PIE (97.0% of the fund), and 1 for PIE that do not appear in VYM (0.6%).
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 PIE | Weight in VYM | Difference |
|---|---|---|---|
| BAPCredicorp Ltd - Common | 0.69% | 0.11% | 0.58% |
You are not choosing between two funds in isolation.
Whichever of PIE and VYM you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
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, by $86 a year on a $10,000 investment.
Which performed better, PIE or VYM?
Over the past year PIE returned +42.34% vs +15.34% for VYM, so PIE leads on 1-year performance. Over the longest common window we track (19 years), PIE annualized +2.30% vs +7.13% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PIE or VYM?
PIE has been the more volatile fund at 22.9% annualized versus 14.8% for VYM. Worst drawdown: PIE -73.1% vs VYM -55.4%.
Should I hold both PIE and VYM?
PIE and VYM have a monthly-return correlation of 0.68, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, PIE or VYM?
PIE yields 1.69% while VYM yields 2.22%, so VYM currently pays the higher dividend yield.
Is VYM better than PIE?
VYM has a lower expense ratio. PIE led over 1Y and 3Y, VYM over 5Y and the full window. PIE is less concentrated, with 24.5% of the fund in its ten largest positions against 26.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.