ATFV vs. PWB
ATFV (Alger 35 ETF) and PWB (Invesco Large Cap Growth ETF) are both Large Cap Growth Equities funds - ATFV tracks the S&P 500 while PWB tracks the Dynamic Large Cap Growth Intellidex Index. Both are passively managed. Over the past 5 years, ATFV returned 12.57%/yr vs 15.18%/yr for PWB. Their correlation of 0.86 means they have usually moved in the same direction. Both charge a 0.55% expense ratio.
Performance
ATFV vs. PWB - Performance Comparison
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Returns By Period
In the year-to-date period, ATFV achieves a 10.01% return, which is significantly lower than PWB's 20.52% return.
ATFV
- 1D
- 2.68%
- 1M
- -2.89%
- 6M
- 12.26%
- YTD
- 10.01%
- 1Y
- 26.14%
- 3Y*
- 33.90%
- 5Y*
- 12.57%
- 10Y*
- —
- ALL TIME*
- 13.54%
PWB
- 1D
- 0.86%
- 1M
- -3.41%
- 6M
- 14.31%
- YTD
- 20.52%
- 1Y
- 31.05%
- 3Y*
- 28.93%
- 5Y*
- 15.18%
- 10Y*
- 17.31%
- ALL TIME*
- 12.03%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
ATFV Alger 35 ETF | $2.07M | $1.55M | $2.50M |
| $15.62M | $17.39M | $15.67M |
ATFV vs. PWB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ATFV Alger 35 ETF | 10.01% | 38.20% | 46.14% | 32.75% | -35.97% | 3.03% |
PWB Invesco Large Cap Growth ETF | 20.52% | 24.94% | 31.04% | 30.61% | -25.81% | 14.24% |
Correlation
The correlation between ATFV and PWB is 0.84, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.84 |
Correlation (3Y) Balances recent behavior with more history. | 0.84 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.86 |
Correlation (All Time) Calculated using the full available price history since May 4, 2021 | 0.86 |
The correlation between ATFV and PWB has been stable across timeframes, ranging from 0.84 to 0.86 - a consistent structural relationship.
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Return for Risk
ATFV vs. PWB — Risk / Return Rank
ATFV
PWB
ATFV vs. PWB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alger 35 ETF (ATFV) and Invesco Large Cap Growth ETF (PWB). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ATFV | PWB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.22 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.23 | 2.11 | -0.88 |
| Martin ratioReturn relative to average drawdown | 3.72 | 7.89 | -4.17 |
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Drawdowns
ATFV vs. PWB - Drawdown Comparison
The maximum ATFV drawdown since its inception was -45.34%, smaller than the maximum PWB drawdown of -52.58%. Use the drawdown chart below to compare losses from any high point for ATFV and PWB.
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Drawdown Indicators
| ATFV | PWB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.34% | -52.58% | +7.24% |
Max Drawdown (1Y)Largest decline over 1 year | -18.29% | -13.73% | -4.56% |
Max Drawdown (3Y)Largest decline over 3 years | -29.01% | -22.10% | -6.91% |
Max Drawdown (5Y)Largest decline over 5 years | -45.34% | -31.41% | -13.93% |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.36% | — |
Current DrawdownCurrent decline from peak | -8.11% | -9.09% | +0.98% |
Average DrawdownAverage peak-to-trough decline | -17.46% | -8.21% | -9.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.05% | 3.66% | +2.39% |
Volatility
ATFV vs. PWB - Volatility Comparison
Alger 35 ETF (ATFV) has a higher volatility of 10.70% compared to Invesco Large Cap Growth ETF (PWB) at 9.36%. This indicates that ATFV's price experiences larger fluctuations and is considered to be riskier than PWB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ATFV | PWB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.70% | 9.36% | +1.34% |
Volatility (6M)Calculated over the trailing 6-month period | 21.93% | 20.08% | +1.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.95% | 23.17% | +3.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.36% | 21.90% | +5.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.99% | 21.17% | +5.82% |
ATFV vs. PWB - Expense Ratio Comparison
Both ATFV and PWB have an expense ratio of 0.55%.
Dividends
ATFV vs. PWB - Dividend Comparison
ATFV's dividend yield for the trailing twelve months is around 0.18%, while PWB has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ATFV Alger 35 ETF | 0.18% | 0.20% | 0.16% | 0.01% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PWB Invesco Large Cap Growth ETF | 0.00% | 0.00% | 0.08% | 0.37% | 0.31% | 0.04% | 0.21% | 0.58% | 0.97% | 0.54% | 0.82% | 0.67% |
Frequently Asked Questions
ATFV and PWB have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ATFV has higher volatility (10.70%) compared to PWB (9.36%). In terms of maximum drawdown, ATFV dropped -45.34% vs PWB's -52.58%.
On 5-year performance, PWB leads with 15.18% vs 12.57% for ATFV. Both ETFs have the same 0.55% expense ratio. On volatility, PWB has been the lower-risk option at 9.36%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PWB has performed better with a 15.18% return vs 12.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ATFV and PWB have the same expense ratio: 0.55% per year.
ATFV has the higher dividend yield at 0.18%, compared with 0.00% for PWB.
ATFV tracks S&P 500, while PWB tracks Dynamic Large Cap Growth Intellidex Index. They also come from different issuers: Alger and Invesco.
PWB currently has the higher Sharpe Ratio (1.25 vs 0.84), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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