IWD vs. PWV
IWD (iShares Russell 1000 Value ETF) and PWV (Invesco Dynamic Large Cap Value ETF) are both Large Cap Value Equities funds - IWD tracks the Russell 1000 Value Index while PWV tracks the Dynamic Large Cap Value Intellidex Index (AMEX). Both are passively managed. Over the past 10 years, IWD returned 11.23%/yr vs 11.81%/yr for PWV. Their correlation of 0.93 suggests significant overlap in exposure. IWD charges 0.18%/yr vs 0.58%/yr for PWV.
Performance
IWD vs. PWV - Performance Comparison
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Returns By Period
In the year-to-date period, IWD achieves a 14.20% return, which is significantly higher than PWV's 12.10% return. Over the past 10 years, IWD has underperformed PWV with an annualized return of 11.23%, while PWV has yielded a comparatively higher 11.81% annualized return.
IWD
- 1D
- -0.01%
- 1M
- 4.22%
- YTD
- 14.20%
- 6M
- 14.76%
- 1Y
- 28.16%
- 3Y*
- 18.40%
- 5Y*
- 10.17%
- 10Y*
- 11.23%
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%
IWD vs. PWV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IWD iShares Russell 1000 Value ETF | 14.20% | 15.68% | 14.17% | 11.34% | -7.75% | 24.95% | 2.73% | 26.12% | -8.45% | 13.45% |
PWV Invesco Dynamic Large Cap Value ETF | 12.10% | 19.65% | 14.48% | 10.36% | -1.16% | 29.06% | -3.77% | 29.84% | -14.12% | 16.98% |
Correlation
The correlation between IWD and PWV is 0.81, 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 | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Mar 4, 2005 | 0.93 |
The correlation between IWD and PWV shifts across timeframes, from 0.81 (1 year) to 0.93 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IWD vs. PWV — Risk / Return Rank
IWD
PWV
IWD vs. PWV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell 1000 Value ETF (IWD) 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.
| IWD | PWV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.48 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 4.17 | 6.28 | -2.11 |
| Martin ratioReturn relative to average drawdown | 17.46 | 21.16 | -3.70 |
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
| IWD | PWV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.63 | 2.74 | -0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.69 | 0.88 | -0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.65 | 0.69 | -0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 0.41 | +0.01 |
Drawdowns
IWD vs. PWV - Drawdown Comparison
The maximum IWD drawdown since its inception was -60.10%, which is greater than PWV's maximum drawdown of -49.04%. Use the drawdown chart below to compare losses from any high point for IWD and PWV.
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Drawdown Indicators
| IWD | PWV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.10% | -49.04% | -11.06% |
Max Drawdown (1Y)Largest decline over 1 year | -6.79% | -4.05% | -2.74% |
Max Drawdown (3Y)Largest decline over 3 years | -15.71% | -14.31% | -1.40% |
Max Drawdown (5Y)Largest decline over 5 years | -19.04% | -16.36% | -2.68% |
Max Drawdown (10Y)Largest decline over 10 years | -38.51% | -37.67% | -0.84% |
Current DrawdownCurrent decline from peak | -0.01% | -0.51% | +0.50% |
Average DrawdownAverage peak-to-trough decline | -8.65% | -9.50% | +0.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.62% | 1.20% | +0.42% |
Volatility
IWD vs. PWV - Volatility Comparison
iShares Russell 1000 Value ETF (IWD) has a higher volatility of 2.90% compared to Invesco Dynamic Large Cap Value ETF (PWV) at 2.35%. This indicates that IWD'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
| IWD | PWV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.90% | 2.35% | +0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 8.06% | 6.62% | +1.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.77% | 9.31% | +1.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.81% | 14.35% | +0.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.29% | 17.16% | +0.13% |
IWD vs. PWV - Expense Ratio Comparison
IWD has a 0.18% expense ratio, which is lower than PWV's 0.58% expense ratio.
Dividends
IWD vs. PWV - Dividend Comparison
IWD's dividend yield for the trailing twelve months is around 1.50%, less than PWV's 1.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWD iShares Russell 1000 Value ETF | 1.50% | 1.69% | 1.87% | 2.02% | 2.15% | 1.62% | 2.05% | 2.45% | 2.71% | 2.09% | 2.25% | 2.47% |
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
IWD and PWV have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IWD has higher volatility (2.90%) compared to PWV (2.35%). In terms of maximum drawdown, IWD dropped -60.10% vs PWV's -49.04%.
On 10-year performance, PWV leads with 11.81% vs 11.23% for IWD. On fees, IWD is cheaper at 0.18% 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 10-year period, PWV has performed better with a 11.81% return vs 11.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IWD is cheaper with a 0.18% expense ratio, compared with 0.58% for PWV.
PWV has the higher dividend yield at 1.81%, compared with 1.50% for IWD.
IWD tracks Russell 1000 Value Index, while PWV tracks Dynamic Large Cap Value Intellidex Index (AMEX). They also come from different issuers: iShares and Invesco. Their fees differ too: 0.18% for IWD and 0.58% for PWV.
PWV currently has the higher Sharpe Ratio (2.74 vs 2.63), 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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