ETF Evaluator: Invesco High Yield Eq Div Achiev™ ETF (PEY) Follow This ETF

Invesco High Yield Eq Div Achiev™ ETF Overview

Invesco High Yield Eq Div Achiev™ ETF (PEY) is a passively managed U.S. Equity Mid-Cap Value exchange-traded fund (ETF). Invesco launched the ETF in 2004.

The investment seeks to track the investment results (before fees and expenses) of the NASDAQ U.S. Dividend AchieversTM 50 Index (the "underlying index"). The fund generally will invest at least 90% of its total assets in securities that comprise the underlying index. Strictly in accordance with its guidelines and mandated procedures, Nasdaq, Inc. includes common stocks in the underlying index that have a consistent record of dividend increases, principally on the basis of dividend yield and consistent growth in dividends. The fund is non-diversified.

About Invesco High Yield Eq Div Achiev™ ETF (PEY)

There are 3 members of the management team with an average tenure of 14.26 years: Peter Hubbard (2007), Michael Jeanette (2008) and Pratik Doshi (2020). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and NASDAQ US Dividend Achievers 50 TR USD index with a weighting of 100%. Invesco High Yield Eq Div Achiev™ ETF has 51 securities in its portfolio. The top 10 holdings constitute 29.0% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.

Invesco High Yield Eq Div Achiev™ ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Invesco High Yield Eq Div Achiev™ ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 100.1% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Invesco High Yield Eq Div Achiev™ ETF has -0.1% of the portfolio in cash.

Assets Under Management

The fund has $1 billion in total assets, which is below the $2 billion average for the Mid-Cap Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

PEY Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Invesco High Yield Eq Div Achiev™ ETF expense ratio is average compared to funds in the Mid-Cap Value category. Invesco High Yield Eq Div Achiev™ ETF has an expense ratio of 0.54%, which is 17% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Invesco High Yield Eq Div Achiev™ ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 73% for the Mid-Cap Value category.

Recently, in the month of June 2026, Invesco High Yield Eq Div Achiev™ ETF returned 2.8%, which earned it a grade of B, as the Mid-Cap Value category had an average return of 1.7%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.

Invesco High Yield Eq Div Achiev™ ETF has a trailing yield of 4.40%, which is above the 2.13% category average. The fund normally distributes its income monthly and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Invesco High Yield Eq Div Achiev™ ETF Grades

Year to date, the ETF has returned 16.4%, 4.9 percentage points better than the category, which translates into a grade of A. The fund has returned 19.1% over the past year (grade of C), 11.7% over the past three years (grade of D) and 7.1% per year over the past five years (grade of F) and 8.6% per year over the past 10 years (grade of F).

For more ETF grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.

Otherwise, for more information about Invesco High Yield Eq Div Achiev™ ETF, including its riskiness, submit your email to unlock the rest of the article.