FBCV vs. PWV
FBCV (Fidelity Blue Chip Value ETF) and PWV (Invesco Dynamic Large Cap Value ETF) are both Large Cap Value Equities funds. FBCV is actively managed, while PWV is passively managed. Over the past 5 years, FBCV returned 8.64%/yr vs 12.50%/yr for PWV. Their correlation of 0.91 suggests significant overlap in exposure. FBCV charges 0.57%/yr vs 0.58%/yr for PWV.
Performance
FBCV vs. PWV - Performance Comparison
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Returns By Period
In the year-to-date period, FBCV achieves a 9.91% return, which is significantly lower than PWV's 12.10% return.
FBCV
- 1D
- -0.20%
- 1M
- 2.72%
- YTD
- 9.91%
- 6M
- 11.56%
- 1Y
- 24.49%
- 3Y*
- 14.94%
- 5Y*
- 8.64%
- 10Y*
- —
PWV
- 1D
- -0.14%
- 1M
- 2.43%
- YTD
- 12.10%
- 6M
- 12.38%
- 1Y
- 25.33%
- 3Y*
- 20.79%
- 5Y*
- 12.50%
- 10Y*
- 11.81%
FBCV vs. PWV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
FBCV Fidelity Blue Chip Value ETF | 9.91% | 16.36% | 10.26% | 5.45% | -2.26% | 26.18% | 16.98% |
PWV Invesco Dynamic Large Cap Value ETF | 12.10% | 19.65% | 14.48% | 10.36% | -1.16% | 29.06% | 10.56% |
Correlation
The correlation between FBCV and PWV is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2020 | 0.91 |
The correlation between FBCV and PWV has been stable across timeframes, ranging from 0.82 to 0.91 - a consistent structural relationship.
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Return for Risk
FBCV vs. PWV — Risk / Return Rank
FBCV
PWV
FBCV vs. PWV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Blue Chip Value ETF (FBCV) 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.
| FBCV | PWV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.39 | ||
| Sortino ratioReturn per unit of downside risk | -0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.48 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.49 | 6.28 | -2.78 |
| Martin ratioReturn relative to average drawdown | 14.27 | 21.16 | -6.90 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FBCV | PWV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.35 | 2.74 | -0.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.63 | 0.88 | -0.25 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.69 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.93 | 0.41 | +0.51 |
Drawdowns
FBCV vs. PWV - Drawdown Comparison
The maximum FBCV drawdown since its inception was -15.55%, smaller than the maximum PWV drawdown of -49.04%. Use the drawdown chart below to compare losses from any high point for FBCV and PWV.
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Drawdown Indicators
| FBCV | PWV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.55% | -49.04% | +33.49% |
Max Drawdown (1Y)Largest decline over 1 year | -7.04% | -4.05% | -2.99% |
Max Drawdown (3Y)Largest decline over 3 years | -14.32% | -14.31% | -0.01% |
Max Drawdown (5Y)Largest decline over 5 years | -15.55% | -16.36% | +0.81% |
Max Drawdown (10Y)Largest decline over 10 years | — | -37.67% | — |
Current DrawdownCurrent decline from peak | -0.50% | -0.51% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -3.45% | -9.50% | +6.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.72% | 1.20% | +0.52% |
Volatility
FBCV vs. PWV - Volatility Comparison
The current volatility for Fidelity Blue Chip Value ETF (FBCV) is 2.18%, while Invesco Dynamic Large Cap Value ETF (PWV) has a volatility of 2.35%. This indicates that FBCV experiences smaller price fluctuations and is considered to be less risky than PWV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FBCV | PWV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.18% | 2.35% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 7.66% | 6.62% | +1.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.49% | 9.31% | +1.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.81% | 14.35% | -0.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.73% | 17.16% | -2.43% |
FBCV vs. PWV - Expense Ratio Comparison
FBCV has a 0.57% expense ratio, which is lower than PWV's 0.58% expense ratio.
Dividends
FBCV vs. PWV - Dividend Comparison
FBCV's dividend yield for the trailing twelve months is around 2.69%, more than PWV's 1.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBCV Fidelity Blue Chip Value ETF | 2.69% | 2.95% | 1.75% | 1.68% | 2.01% | 3.13% | 0.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PWV Invesco Dynamic Large Cap Value ETF | 1.81% | 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
FBCV and PWV have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PWV has higher volatility (2.35%) compared to FBCV (2.18%). In terms of maximum drawdown, FBCV dropped -15.55% vs PWV's -49.04%.
On 5-year performance, PWV leads with 12.50% vs 8.64% for FBCV. On fees, FBCV is cheaper at 0.57% per year. On volatility, FBCV has been the lower-risk option at 2.18%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PWV has performed better with a 12.50% return vs 8.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FBCV is cheaper with a 0.57% expense ratio, compared with 0.58% for PWV.
FBCV has the higher dividend yield at 2.69%, compared with 1.81% for PWV.
They also come from different issuers: Fidelity and Invesco. Their fees differ too: 0.57% for FBCV and 0.58% for PWV.
PWV currently has the higher Sharpe Ratio (2.74 vs 2.35), 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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