GVLE vs. PWV

Last updated Jun 6, 2026

GVLE (Goldman Sachs Value Opportunities ETF) and PWV (Invesco Dynamic Large Cap Value ETF) are both Large Cap Value Equities funds. GVLE is actively managed, while PWV is passively managed. A 0.64 correlation means they provide meaningful diversification when combined. GVLE charges 0.45%/yr vs 0.58%/yr for PWV.

Performance

GVLE vs. PWV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Value Opportunities ETF (GVLE) and Invesco Dynamic Large Cap Value ETF (PWV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GVLE achieves a 10.29% return, which is significantly lower than PWV's 13.90% return.

GVLE

• 1D: -2.20%
• 1M: 1.23%
• YTD: 10.29%
• 6M: 10.74%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PWV

• 1D: 0.01%
• 1M: 3.43%
• YTD: 13.90%
• 6M: 14.56%
• 1Y: 28.30%
• 3Y*: 21.34%
• 5Y*: 12.86%
• 10Y*: 11.90%

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

GVLE vs. PWV - Yearly Performance Comparison

	2026 (YTD)	2025
GVLE Goldman Sachs Value Opportunities ETF	10.29%	4.29%
PWV Invesco Dynamic Large Cap Value ETF	13.90%	1.99%

Correlation

The correlation between GVLE and PWV is 0.64, 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 Nov 18, 2025	0.64

Return for Risk

GVLE vs. PWV — Risk / Return Rank

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

PWV

PWV Risk / Return Rank: 92
PWV Sharpe Ratio Rank: 91
PWV Sortino Ratio Rank: 92
PWV Omega Ratio Rank: 89
PWV Calmar Ratio Rank: 94
PWV Martin Ratio Rank: 93

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.

GVLE vs. PWV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Value Opportunities ETF (GVLE) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	GVLE	PWV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.03	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.90	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.70	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.12	0.42	+1.71

Drawdowns

GVLE vs. PWV - Drawdown Comparison

The maximum GVLE drawdown since its inception was -7.88%, smaller than the maximum PWV drawdown of -49.04%. Use the drawdown chart below to compare losses from any high point for GVLE and PWV.

Drawdown Indicators

	GVLE	PWV	Difference
Max Drawdown Largest peak-to-trough decline	-7.88%	-49.04%	+41.16%
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 Drawdown Current decline from peak	-2.20%	0.00%	-2.20%
Average Drawdown Average peak-to-trough decline	-1.31%	-9.50%	+8.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.20%	—

Volatility

Volatility by Period

	GVLE	PWV	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.77%	—
Volatility (6M) Calculated over the trailing 6-month period	—	6.76%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.86%	9.37%	+4.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.86%	14.36%	-0.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.86%	17.16%	-3.30%

GVLE vs. PWV - Expense Ratio Comparison

GVLE has a 0.45% expense ratio, which is lower than PWV's 0.58% expense ratio.

Dividends

GVLE vs. PWV - Dividend Comparison

GVLE's dividend yield for the trailing twelve months is around 1.05%, less than PWV's 1.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GVLE Goldman Sachs Value Opportunities ETF	1.05%	1.16%	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	1.78%	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

Can I hold both GVLE and PWV in my portfolio?

GVLE and PWV have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GVLE or PWV?

On fees, GVLE is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GVLE or PWV?

GVLE is cheaper with a 0.45% expense ratio, compared with 0.58% for PWV.

Which ETF pays a higher dividend yield, GVLE or PWV?

PWV has the higher dividend yield at 1.78%, compared with 1.05% for GVLE.

What is the main difference between GVLE and PWV?

They also come from different issuers: Goldman Sachs and Invesco. Their fees differ too: 0.45% for GVLE and 0.58% for PWV.