PIZ vs VYM
Invesco Dorsey Wright Developed Markets Momentum 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 | PIZ | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.80% | 0.04% | |
| AUM | $729M | $79.0B | |
| Dividend Yield | 1.49% | 2.86% | |
| Holdings | 115 | 568 | |
| YTD Return | +10.90% | +16.53% | |
| 1Y Return | +19.18% | +25.03% | |
| 3Y Return (annualized) | +22.89% | +18.54% | |
| 5Y Return (annualized) | +8.12% | +12.25% | |
| Volatility (annualized) | 20.4% | 14.6% | |
| Max Drawdown | -61.1% | -58.8% | |
| Fund Family | Invesco (US) | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Dec 28, 2007 | Nov 10, 2006 |
PIZ vs VYM Performance
Invesco Dorsey Wright Developed Markets Momentum ETF (PIZ) is a ETF from Invesco (US) and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year PIZ returned +19.18% while VYM returned +25.03%. Year to date, PIZ is up 10.90% versus a gain of 16.53% for VYM.
Over three years, PIZ compounded at +22.89% per year against +18.54% for VYM; over five years the annualized figures are +8.12% and +12.25% respectively. Across the full 19-year window we track, VYM has the edge at +7.10% annualized vs +4.73%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PIZ has been the more volatile fund, with annualized monthly volatility of 20.4% 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 -61.1% for PIZ 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 0.75. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PIZ charges 0.80% per year while VYM charges 0.04%. On a $10,000 position that is $80 vs $4 annually, a gap of $76 per year that compounds over a long holding period. On income, PIZ currently yields 1.49% against 2.86% for VYM.
Holdings Overlap
PIZ and VYM share 0 holdings out of 658 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, PIZ or VYM?
PIZ has an expense ratio of 0.80% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $76 per year of difference.
Which performed better, PIZ or VYM?
Over the past year PIZ returned +19.18% vs +25.03% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (19 years), PIZ annualized +4.73% vs +7.10% for VYM. Past performance does not guarantee future results.
Which is riskier, PIZ or VYM?
PIZ has been the more volatile fund at 20.4% annualized versus 14.6% for VYM. Worst drawdown: PIZ -61.1% vs VYM -58.8%.
Should I hold both PIZ and VYM?
PIZ and VYM have a monthly-return correlation of 0.75, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PIZ and VYM?
PIZ and VYM share 0 common holdings with a 0.0% weight overlap. Combined, they hold 658 unique securities.
Which pays a higher dividend, PIZ or VYM?
PIZ yields 1.49% while VYM yields 2.86%, so VYM currently pays the higher dividend yield.
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