BMVP vs. PWC

Last updated Jun 5, 2026

BMVP (Invesco Bloomberg MVP Multi-factor ETF) and PWC (Invesco Dynamic Market ETF) are both Mid Cap Blend Equities funds from Invesco - BMVP tracks the Bloomberg MVP Index while PWC tracks the Dynamic Market Intellidex Index. Both are passively managed. Over the past 10 years, BMVP returned 9.43%/yr vs 9.43%/yr for PWC. With a 1.00 correlation, they move nearly in lockstep. BMVP charges 0.29%/yr vs 0.60%/yr for PWC.

Performance

BMVP vs. PWC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Bloomberg MVP Multi-factor ETF (BMVP) and Invesco Dynamic Market ETF (PWC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with BMVP at 6.62% and PWC at 6.62%. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: BMVP at 9.43% and PWC at 9.43%.

BMVP

• 1D: 0.73%
• 1M: 0.87%
• YTD: 6.62%
• 6M: 6.60%
• 1Y: 10.03%
• 3Y*: 14.03%
• 5Y*: 6.25%
• 10Y*: 9.43%

PWC

• 1D: 0.73%
• 1M: 0.87%
• YTD: 6.62%
• 6M: 6.60%
• 1Y: 10.03%
• 3Y*: 14.03%
• 5Y*: 6.25%
• 10Y*: 9.43%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BMVP vs. PWC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BMVP Invesco Bloomberg MVP Multi-factor ETF	6.62%	6.15%	17.46%	19.03%	-16.01%	19.38%	8.52%	13.47%	-6.40%	20.16%
PWC Invesco Dynamic Market ETF	6.62%	6.15%	17.46%	19.03%	-16.01%	19.38%	8.52%	13.47%	-6.40%	20.16%

Correlation

The correlation between BMVP and PWC is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since May 2, 2003	1.00

The correlation between BMVP and PWC has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

BMVP vs. PWC - Sectors Allocation Comparison

Sectors	BMVP	PWC
Industrials	16.8%	10.3%
Financial Services	16.4%	14.0%
Technology	16.4%	26.1%
Consumer Cyclical	10.6%	11.5%
Healthcare	9.7%	12.7%
Communication Services	7.6%	7.0%
Real Estate	5.5%	5.6%
Energy	5.2%	5.5%
Consumer Defensive	5.1%	6.8%
Utilities	5.1%	2.7%
Basic Materials	1.6%	3.5%

Return for Risk

BMVP vs. PWC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BMVP

BMVP Risk / Return Rank: 30
BMVP Sharpe Ratio Rank: 29
BMVP Sortino Ratio Rank: 29
BMVP Omega Ratio Rank: 27
BMVP Calmar Ratio Rank: 33
BMVP Martin Ratio Rank: 33

PWC

PWC Risk / Return Rank: 30
PWC Sharpe Ratio Rank: 29
PWC Sortino Ratio Rank: 29
PWC Omega Ratio Rank: 27
PWC Calmar Ratio Rank: 32
PWC Martin Ratio Rank: 33

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BMVP vs. PWC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Bloomberg MVP Multi-factor ETF (BMVP) and Invesco Dynamic Market ETF (PWC). 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.

	BMVP	PWC	Difference
Sharpe ratio: Return per unit of total volatility	1.03	1.03	0.00
Sortino ratio: Return per unit of downside risk	1.55	1.55	0.00
Omega ratio: Gain probability vs. loss probability	1.18	1.18	0.00
Calmar ratio: Return relative to maximum drawdown	1.56	1.56	0.00
Martin ratio: Return relative to average drawdown	4.78	4.78	0.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BMVP vs. PWC - Sharpe Ratio Comparison

The current BMVP Sharpe Ratio is 1.03, which is comparable to the PWC Sharpe Ratio of 1.03. The chart below compares the historical Sharpe Ratios of BMVP and PWC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BMVP	PWC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.03	1.03	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	0.39	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.50	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	0.11	0.00

Drawdowns

BMVP vs. PWC - Drawdown Comparison

The maximum BMVP drawdown since its inception was -78.13%, roughly equal to the maximum PWC drawdown of -78.13%. Use the drawdown chart below to compare losses from any high point for BMVP and PWC.

Drawdown Indicators

	BMVP	PWC	Difference
Max Drawdown Largest peak-to-trough decline	-78.13%	-78.13%	0.00%
Max Drawdown (1Y) Largest decline over 1 year	-6.45%	-6.45%	0.00%
Max Drawdown (3Y) Largest decline over 3 years	-15.12%	-15.12%	0.00%
Max Drawdown (5Y) Largest decline over 5 years	-26.58%	-26.58%	0.00%
Max Drawdown (10Y) Largest decline over 10 years	-39.45%	-39.45%	0.00%
Current Drawdown Current decline from peak	-1.65%	-1.65%	0.00%
Average Drawdown Average peak-to-trough decline	-36.20%	-36.20%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.10%	2.10%	0.00%

Volatility

BMVP vs. PWC - Volatility Comparison

Invesco Bloomberg MVP Multi-factor ETF (BMVP) and Invesco Dynamic Market ETF (PWC) have volatilities of 2.26% and 2.26%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BMVP	PWC	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.26%	2.26%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	7.21%	7.21%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	9.77%	9.77%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.07%	16.07%	0.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.81%	18.81%	0.00%

BMVP vs. PWC - Expense Ratio Comparison

BMVP has a 0.29% expense ratio, which is lower than PWC's 0.60% expense ratio.

Dividends

BMVP vs. PWC - Dividend Comparison

BMVP's dividend yield for the trailing twelve months is around 1.67%, which matches PWC's 1.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BMVP Invesco Bloomberg MVP Multi-factor ETF	1.67%	1.77%	1.58%	1.67%	1.51%	0.56%	1.09%	0.95%	1.44%	1.75%	1.35%	1.02%
PWC Invesco Dynamic Market ETF	1.67%	1.77%	1.58%	1.67%	1.51%	0.56%	1.09%	0.95%	1.44%	1.75%	1.35%	1.02%

Frequently Asked Questions

Can I hold both BMVP and PWC in my portfolio?

With a correlation of 1.00, BMVP and PWC move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BMVP or PWC?

PWC has higher volatility (2.26%) compared to BMVP (2.26%). In terms of maximum drawdown, BMVP dropped -78.13% vs PWC's -78.13%.

Which ETF is better, BMVP or PWC?

On 10-year performance, PWC leads with 9.43% vs 9.43% for BMVP. On fees, BMVP is cheaper at 0.29% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BMVP or PWC?

Over the 10-year period, PWC has performed better with a 9.43% return vs 9.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BMVP or PWC?

BMVP is cheaper with a 0.29% expense ratio, compared with 0.60% for PWC.

Which ETF pays a higher dividend yield, BMVP or PWC?

BMVP and PWC have nearly identical dividend yields, around 1.67%.

What is the main difference between BMVP and PWC?

BMVP tracks Bloomberg MVP Index, while PWC tracks Dynamic Market Intellidex Index. Their fees differ too: 0.29% for BMVP and 0.60% for PWC.

Which has better risk-adjusted returns?

PWC currently has the higher Sharpe Ratio (1.03 vs 1.03), 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.