PIO vs VYM
Invesco Global Water ETF vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM has a lower expense ratio. VYM delivered stronger 1-year returns. VYM offers more diversification with 558 holdings.
Side-by-Side Comparison
| Metric | PIO | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.75% | 0.04% | |
| AUM | $271M | $79.0B | |
| Dividend Yield | 0.90% | 2.86% | |
| Holdings | 48 | 568 | |
| YTD Return | +4.09% | +16.10% | |
| 1Y Return | +3.86% | +25.99% | |
| 3Y Return (annualized) | +9.50% | +18.29% | |
| 5Y Return (annualized) | +2.89% | +12.35% | |
| Volatility (annualized) | 19.6% | 14.6% | |
| Max Drawdown | -65.4% | -58.8% | |
| Fund Family | Invesco (US) | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Jun 13, 2007 | Nov 10, 2006 |
PIO vs VYM Performance
Invesco Global Water ETF (PIO) is a ETF from Invesco (US) and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year PIO returned +3.86% while VYM returned +25.99%. Year to date, PIO is up 4.09% versus a gain of 16.10% for VYM.
Over three years, PIO compounded at +9.50% per year against +18.29% for VYM; over five years the annualized figures are +2.89% and +12.35% respectively. Across the full 19-year window we track, VYM has the edge at +7.08% annualized vs +3.61%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PIO has been the more volatile fund, with annualized monthly volatility of 19.6% 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 -65.4% for PIO 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 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PIO charges 0.75% per year while VYM charges 0.04%. On a $10,000 position that is $75 vs $4 annually, a gap of $71 per year that compounds over a long holding period. On income, PIO currently yields 0.90% against 2.86% for VYM.
Holdings Overlap
Frequently Asked Questions
Which is cheaper, PIO or VYM?
PIO has an expense ratio of 0.75% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $71 per year of difference.
Which performed better, PIO or VYM?
Over the past year PIO returned +3.86% vs +25.99% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (19 years), PIO annualized +3.61% vs +7.08% for VYM. Past performance does not guarantee future results.
Which is riskier, PIO or VYM?
PIO has been the more volatile fund at 19.6% annualized versus 14.6% for VYM. Worst drawdown: PIO -65.4% vs VYM -58.8%.
Should I hold both PIO and VYM?
PIO and VYM have a monthly-return correlation of 0.81, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PIO and VYM?
PIO and VYM share 2 common holdings with a 0.3% weight overlap. Combined, they hold 593 unique securities.
Which pays a higher dividend, PIO or VYM?
PIO yields 0.90% while VYM yields 2.86%, so VYM currently pays the higher dividend yield.
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