DIVN vs. PWV
DIVN (Horizon Dividend Income ETF) and PWV (Invesco Dynamic Large Cap Value ETF) are both Large Cap Value Equities funds. A 0.76 correlation means they provide meaningful diversification when combined. DIVN charges 0.70%/yr vs 0.58%/yr for PWV.
Performance
DIVN vs. PWV - Performance Comparison
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Returns By Period
In the year-to-date period, DIVN achieves a 11.82% return, which is significantly lower than PWV's 15.98% return.
DIVN
- 1D
- -0.34%
- 1M
- -0.67%
- YTD
- 11.82%
- 6M
- 11.10%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PWV
- 1D
- 1.05%
- 1M
- 2.93%
- YTD
- 15.98%
- 6M
- 15.58%
- 1Y
- 27.69%
- 3Y*
- 21.59%
- 5Y*
- 14.11%
- 10Y*
- 12.39%
DIVN vs. PWV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DIVN Horizon Dividend Income ETF | 11.82% | 8.11% |
PWV Invesco Dynamic Large Cap Value ETF | 15.98% | 9.91% |
Correlation
The correlation between DIVN and PWV is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.76 |
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Return for Risk
DIVN vs. PWV — Risk / Return Rank
DIVN
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
PWV
DIVN vs. PWV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Horizon Dividend Income ETF (DIVN) and Invesco Dynamic Large Cap Value ETF (PWV). 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.
| DIVN | PWV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.52 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 6.86 | — |
| Martin ratioReturn relative to average drawdown | — | 22.94 | — |
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Drawdowns
DIVN vs. PWV - Drawdown Comparison
The maximum DIVN drawdown since its inception was -5.55%, smaller than the maximum PWV drawdown of -49.04%. Use the drawdown chart below to compare losses from any high point for DIVN and PWV.
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Drawdown Indicators
| DIVN | PWV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.55% | -49.04% | +43.49% |
Max Drawdown (1Y)Largest decline over 1 year | — | -4.05% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -14.31% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -16.36% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -37.67% | — |
Current DrawdownCurrent decline from peak | -1.94% | -0.05% | -1.89% |
Average DrawdownAverage peak-to-trough decline | -1.42% | -9.48% | +8.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.21% | — |
Volatility
DIVN vs. PWV - Volatility Comparison
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Volatility by Period
| DIVN | PWV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 3.42% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 7.04% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 10.56% | 9.57% | +0.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.56% | 14.33% | -3.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.56% | 17.15% | -6.59% |
DIVN vs. PWV - Expense Ratio Comparison
DIVN has a 0.70% expense ratio, which is higher than PWV's 0.58% expense ratio.
Dividends
DIVN vs. PWV - Dividend Comparison
DIVN's dividend yield for the trailing twelve months is around 3.12%, more than PWV's 1.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DIVN Horizon Dividend Income ETF | 3.12% | 1.47% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PWV Invesco Dynamic Large Cap Value ETF | 1.73% | 2.12% | 2.08% | 2.16% | 2.29% | 1.89% | 2.66% | 2.24% | 2.34% | 1.55% | 2.35% | 2.42% |
Frequently Asked Questions
DIVN and PWV have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PWV is cheaper at 0.58% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PWV is cheaper with a 0.58% expense ratio, compared with 0.70% for DIVN.
DIVN has the higher dividend yield at 3.12%, compared with 1.73% for PWV.
They also come from different issuers: Horizon and Invesco. Their fees differ too: 0.70% for DIVN and 0.58% for PWV.
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