KVLE vs. PWV
KVLE (KFA Value Liner Dynamic Core Equity Index ETF) and PWV (Invesco Dynamic Large Cap Value ETF) are both Large Cap Value Equities funds - KVLE tracks the 3D/L Value Line Dynamic Core Equity Index while PWV tracks the Dynamic Large Cap Value Intellidex Index (AMEX). Both are passively managed. Over the past 5 years, KVLE returned 9.67%/yr vs 12.50%/yr for PWV. A 0.80 correlation means they provide meaningful diversification when combined. KVLE charges 0.56%/yr vs 0.58%/yr for PWV.
Performance
KVLE vs. PWV - Performance Comparison
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Returns By Period
In the year-to-date period, KVLE achieves a 10.22% return, which is significantly lower than PWV's 12.10% return.
KVLE
- 1D
- -0.91%
- 1M
- 4.69%
- YTD
- 10.22%
- 6M
- 9.55%
- 1Y
- 18.85%
- 3Y*
- 14.93%
- 5Y*
- 9.67%
- 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%
KVLE vs. PWV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
KVLE KFA Value Liner Dynamic Core Equity Index ETF | 10.22% | 9.34% | 18.25% | 10.49% | -5.96% | 28.01% | 1.36% |
PWV Invesco Dynamic Large Cap Value ETF | 12.10% | 19.65% | 14.48% | 10.36% | -1.16% | 29.06% | 2.34% |
Correlation
The correlation between KVLE and PWV is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Nov 25, 2020 | 0.80 |
The correlation between KVLE and PWV shifts across timeframes, from 0.69 (1 year) to 0.80 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
KVLE vs. PWV — Risk / Return Rank
KVLE
PWV
KVLE vs. PWV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KFA Value Liner Dynamic Core Equity Index ETF (KVLE) 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.
| KVLE | PWV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.02 | ||
| Sortino ratioReturn per unit of downside risk | -1.48 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.48 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.97 | 6.28 | -4.30 |
| Martin ratioReturn relative to average drawdown | 7.57 | 21.16 | -13.60 |
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
| KVLE | PWV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.72 | 2.74 | -1.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.67 | 0.88 | -0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.69 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.88 | 0.41 | +0.47 |
Drawdowns
KVLE vs. PWV - Drawdown Comparison
The maximum KVLE drawdown since its inception was -18.38%, smaller than the maximum PWV drawdown of -49.04%. Use the drawdown chart below to compare losses from any high point for KVLE and PWV.
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Drawdown Indicators
| KVLE | PWV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.38% | -49.04% | +30.66% |
Max Drawdown (1Y)Largest decline over 1 year | -9.59% | -4.05% | -5.54% |
Max Drawdown (3Y)Largest decline over 3 years | -16.39% | -14.31% | -2.08% |
Max Drawdown (5Y)Largest decline over 5 years | -18.38% | -16.36% | -2.02% |
Max Drawdown (10Y)Largest decline over 10 years | — | -37.67% | — |
Current DrawdownCurrent decline from peak | -0.91% | -0.51% | -0.40% |
Average DrawdownAverage peak-to-trough decline | -3.21% | -9.50% | +6.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.50% | 1.20% | +1.30% |
Volatility
KVLE vs. PWV - Volatility Comparison
KFA Value Liner Dynamic Core Equity Index ETF (KVLE) has a higher volatility of 2.64% compared to Invesco Dynamic Large Cap Value ETF (PWV) at 2.35%. This indicates that KVLE'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
| KVLE | PWV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.64% | 2.35% | +0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 8.35% | 6.62% | +1.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.04% | 9.31% | +1.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.51% | 14.35% | +0.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.33% | 17.16% | -2.83% |
KVLE vs. PWV - Expense Ratio Comparison
KVLE has a 0.56% expense ratio, which is lower than PWV's 0.58% expense ratio.
Dividends
KVLE vs. PWV - Dividend Comparison
KVLE's dividend yield for the trailing twelve months is around 7.30%, more than PWV's 1.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KVLE KFA Value Liner Dynamic Core Equity Index ETF | 7.30% | 7.90% | 7.99% | 2.53% | 5.78% | 9.51% | 0.35% | 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
KVLE and PWV have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KVLE has higher volatility (2.64%) compared to PWV (2.35%). In terms of maximum drawdown, KVLE dropped -18.38% vs PWV's -49.04%.
On 5-year performance, PWV leads with 12.50% vs 9.67% for KVLE. On fees, KVLE is cheaper at 0.56% 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 5-year period, PWV has performed better with a 12.50% return vs 9.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KVLE is cheaper with a 0.56% expense ratio, compared with 0.58% for PWV.
KVLE has the higher dividend yield at 7.30%, compared with 1.81% for PWV.
KVLE tracks 3D/L Value Line Dynamic Core Equity Index, while PWV tracks Dynamic Large Cap Value Intellidex Index (AMEX). They also come from different issuers: CICC and Invesco. Their fees differ too: 0.56% for KVLE and 0.58% for PWV.
PWV currently has the higher Sharpe Ratio (2.74 vs 1.72), 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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