FDV vs. PWV
FDV (Federated Hermes U.S. Strategic Dividend ETF) and PWV (Invesco Dynamic Large Cap Value ETF) are both Large Cap Value Equities funds. FDV is actively managed, while PWV is passively managed. Over the past 3 years, FDV returned 14.78%/yr vs 20.79%/yr for PWV. Their correlation of 0.82 suggests significant overlap in exposure. FDV charges 0.50%/yr vs 0.58%/yr for PWV.
Performance
FDV vs. PWV - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with FDV having a 11.72% return and PWV slightly higher at 12.10%.
FDV
- 1D
- 0.00%
- 1M
- 1.90%
- YTD
- 11.72%
- 6M
- 11.46%
- 1Y
- 19.71%
- 3Y*
- 14.78%
- 5Y*
- —
- 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%
FDV vs. PWV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FDV Federated Hermes U.S. Strategic Dividend ETF | 11.72% | 11.01% | 14.41% | -2.16% | 1.92% |
PWV Invesco Dynamic Large Cap Value ETF | 12.10% | 19.65% | 14.48% | 10.36% | -0.08% |
Correlation
The correlation between FDV and PWV is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Nov 17, 2022 | 0.82 |
The correlation between FDV and PWV has been stable across timeframes, ranging from 0.77 to 0.82 - a consistent structural relationship.
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Return for Risk
FDV vs. PWV — Risk / Return Rank
FDV
PWV
FDV vs. PWV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes U.S. Strategic Dividend ETF (FDV) 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.
| FDV | PWV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.73 | ||
| Sortino ratioReturn per unit of downside risk | -0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.48 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.78 | 6.28 | -2.49 |
| Martin ratioReturn relative to average drawdown | 12.05 | 21.16 | -9.12 |
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
| FDV | PWV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.01 | 2.74 | -0.73 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.88 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.69 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.82 | 0.41 | +0.41 |
Drawdowns
FDV vs. PWV - Drawdown Comparison
The maximum FDV drawdown since its inception was -16.70%, smaller than the maximum PWV drawdown of -49.04%. Use the drawdown chart below to compare losses from any high point for FDV and PWV.
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Drawdown Indicators
| FDV | PWV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.70% | -49.04% | +32.34% |
Max Drawdown (1Y)Largest decline over 1 year | -5.70% | -4.05% | -1.65% |
Max Drawdown (3Y)Largest decline over 3 years | -12.55% | -14.31% | +1.76% |
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 | -0.39% | -0.51% | +0.12% |
Average DrawdownAverage peak-to-trough decline | -3.93% | -9.50% | +5.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.79% | 1.20% | +0.59% |
Volatility
FDV vs. PWV - Volatility Comparison
Federated Hermes U.S. Strategic Dividend ETF (FDV) has a higher volatility of 2.82% compared to Invesco Dynamic Large Cap Value ETF (PWV) at 2.35%. This indicates that FDV's price experiences larger fluctuations and is considered to be riskier 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
| FDV | PWV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.82% | 2.35% | +0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 6.82% | 6.62% | +0.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.74% | 9.31% | +1.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.65% | 14.35% | -1.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.65% | 17.16% | -4.51% |
FDV vs. PWV - Expense Ratio Comparison
FDV has a 0.50% expense ratio, which is lower than PWV's 0.58% expense ratio.
Dividends
FDV vs. PWV - Dividend Comparison
FDV's dividend yield for the trailing twelve months is around 2.56%, more than PWV's 1.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDV Federated Hermes U.S. Strategic Dividend ETF | 2.56% | 3.11% | 3.12% | 3.54% | 0.18% | 0.00% | 0.00% | 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
FDV and PWV have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FDV has higher volatility (2.82%) compared to PWV (2.35%). In terms of maximum drawdown, FDV dropped -16.70% vs PWV's -49.04%.
On 3-year performance, PWV leads with 20.79% vs 14.78% for FDV. On fees, FDV is cheaper at 0.50% per year. On volatility, PWV has been the lower-risk option at 2.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, PWV has performed better with a 20.79% return vs 14.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FDV is cheaper with a 0.50% expense ratio, compared with 0.58% for PWV.
FDV has the higher dividend yield at 2.56%, compared with 1.81% for PWV.
They also come from different issuers: Federated and Invesco. Their fees differ too: 0.50% for FDV and 0.58% for PWV.
PWV currently has the higher Sharpe Ratio (2.74 vs 2.01), 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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