PFM vs. AVLV

Last updated Jun 4, 2026

PFM (Invesco Dividend Achievers™ ETF) and AVLV (Avantis U.S. Large Cap Value ETF) are both exchange-traded funds - PFM is a Large Cap Growth Equities fund tracking the NASDAQ US Broad Dividend Achievers Index, while AVLV is a Large Cap Value Equities fund tracking the Russell 1000 Value Index. Both are passively managed. Over the past 3 years, PFM returned 16.31%/yr vs 23.23%/yr for AVLV. Their correlation of 0.87 suggests significant overlap in exposure. PFM charges 0.53%/yr vs 0.15%/yr for AVLV.

Performance

PFM vs. AVLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dividend Achievers™ ETF (PFM) and Avantis U.S. Large Cap Value ETF (AVLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PFM achieves a 8.18% return, which is significantly lower than AVLV's 20.64% return.

PFM

• 1D: -0.23%
• 1M: 3.40%
• YTD: 8.18%
• 6M: 7.73%
• 1Y: 19.65%
• 3Y*: 16.31%
• 5Y*: 10.63%
• 10Y*: 11.82%

AVLV

• 1D: 0.14%
• 1M: 5.75%
• YTD: 20.64%
• 6M: 22.01%
• 1Y: 38.77%
• 3Y*: 23.23%
• 5Y*: —
• 10Y*: —

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

PFM vs. AVLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PFM Invesco Dividend Achievers™ ETF	8.18%	14.00%	16.87%	11.40%	-6.22%	8.47%
AVLV Avantis U.S. Large Cap Value ETF	20.64%	15.12%	17.49%	17.43%	-5.53%	5.92%

Correlation

The correlation between PFM and AVLV 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	0.86
Correlation (All Time) Calculated using the full available price history since Sep 24, 2021	0.87

The correlation between PFM and AVLV has been stable across timeframes, ranging from 0.82 to 0.87 - a consistent structural relationship.

PFM vs. AVLV - Sectors Allocation Comparison

Sectors	PFM	AVLV
Technology	24.7%	17.2%
Financial Services	18.5%	16.3%
Healthcare	14.9%	5.6%
Consumer Defensive	12.0%	7.7%
Industrials	11.1%	15.4%
Energy	4.7%	14.4%
Utilities	4.2%	0.3%
Consumer Cyclical	4.0%	14.1%
Basic Materials	3.0%	2.0%
Real Estate	2.0%	0.1%
Communication Services	1.1%	6.9%

Return for Risk

PFM vs. AVLV — Risk / Return Rank

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

PFM

PFM Risk / Return Rank: 62
PFM Sharpe Ratio Rank: 61
PFM Sortino Ratio Rank: 66
PFM Omega Ratio Rank: 61
PFM Calmar Ratio Rank: 56
PFM Martin Ratio Rank: 63

AVLV

AVLV Risk / Return Rank: 91
AVLV Sharpe Ratio Rank: 90
AVLV Sortino Ratio Rank: 91
AVLV Omega Ratio Rank: 89
AVLV Calmar Ratio Rank: 91
AVLV 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.

PFM vs. AVLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dividend Achievers™ ETF (PFM) and Avantis U.S. Large Cap Value ETF (AVLV). 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.

	PFM	AVLV	Difference
Sharpe ratio: Return per unit of total volatility	2.09	3.18	-1.09
Sortino ratio: Return per unit of downside risk	3.07	4.39	-1.32
Omega ratio: Gain probability vs. loss probability	1.38	1.57	-0.20
Calmar ratio: Return relative to maximum drawdown	2.78	6.09	-3.31
Martin ratio: Return relative to average drawdown	11.28	24.39	-13.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PFM vs. AVLV - Sharpe Ratio Comparison

The current PFM Sharpe Ratio is 2.09, which is lower than the AVLV Sharpe Ratio of 3.18. The chart below compares the historical Sharpe Ratios of PFM and AVLV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PFM	AVLV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.09	3.18	-1.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.78	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.86	-0.34

Drawdowns

PFM vs. AVLV - Drawdown Comparison

The maximum PFM drawdown since its inception was -53.21%, which is greater than AVLV's maximum drawdown of -19.50%. Use the drawdown chart below to compare losses from any high point for PFM and AVLV.

Drawdown Indicators

	PFM	AVLV	Difference
Max Drawdown Largest peak-to-trough decline	-53.21%	-19.50%	-33.71%
Max Drawdown (1Y) Largest decline over 1 year	-7.09%	-6.39%	-0.70%
Max Drawdown (3Y) Largest decline over 3 years	-14.50%	-19.50%	+5.00%
Max Drawdown (5Y) Largest decline over 5 years	-17.81%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-32.22%	—	—
Current Drawdown Current decline from peak	-0.23%	0.00%	-0.23%
Average Drawdown Average peak-to-trough decline	-6.94%	-3.93%	-3.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.75%	1.59%	+0.16%

Volatility

PFM vs. AVLV - Volatility Comparison

The current volatility for Invesco Dividend Achievers™ ETF (PFM) is 2.04%, while Avantis U.S. Large Cap Value ETF (AVLV) has a volatility of 3.12%. This indicates that PFM experiences smaller price fluctuations and is considered to be less risky than AVLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PFM	AVLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.04%	3.12%	-1.08%
Volatility (6M) Calculated over the trailing 6-month period	7.13%	9.04%	-1.91%
Volatility (1Y) Calculated over the trailing 1-year period	9.47%	12.29%	-2.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.54%	17.35%	-3.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.21%	17.35%	-2.14%

PFM vs. AVLV - Expense Ratio Comparison

PFM has a 0.53% expense ratio, which is higher than AVLV's 0.15% expense ratio.

Dividends

PFM vs. AVLV - Dividend Comparison

PFM's dividend yield for the trailing twelve months is around 1.33%, more than AVLV's 1.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVLV Avantis U.S. Large Cap Value ETF	1.07%	1.33%	1.58%	1.85%	2.00%	0.29%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PFM Invesco Dividend Achievers™ ETF	1.33%	1.41%	1.58%	1.86%	1.95%	1.69%	1.92%	1.94%	2.27%	1.70%	2.56%	2.36%

Frequently Asked Questions

Can I hold both PFM and AVLV in my portfolio?

PFM and AVLV 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.

Which is riskier, PFM or AVLV?

AVLV has higher volatility (3.12%) compared to PFM (2.04%). In terms of maximum drawdown, PFM dropped -53.21% vs AVLV's -19.50%.

Which ETF is better, PFM or AVLV?

On 3-year performance, AVLV leads with 23.23% vs 16.31% for PFM. On fees, AVLV is cheaper at 0.15% per year. On volatility, PFM has been the lower-risk option at 2.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PFM or AVLV?

Over the 3-year period, AVLV has performed better with a 23.23% return vs 16.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PFM or AVLV?

AVLV is cheaper with a 0.15% expense ratio, compared with 0.53% for PFM.

Which ETF pays a higher dividend yield, PFM or AVLV?

PFM has the higher dividend yield at 1.33%, compared with 1.07% for AVLV.

What is the main difference between PFM and AVLV?

PFM is categorized as Large Cap Growth Equities, while AVLV is Large Cap Value Equities. PFM tracks NASDAQ US Broad Dividend Achievers Index, while AVLV tracks Russell 1000 Value Index. They also come from different issuers: Invesco and American Century. Their fees differ too: 0.53% for PFM and 0.15% for AVLV.

Which has better risk-adjusted returns?

AVLV currently has the higher Sharpe Ratio (3.17 vs 2.09), 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.