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PQVM.L vs. XDWE.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PQVM.L vs. XDWE.L

Last updated Jun 5, 2026

PQVM.L (Invesco S&P 500 QVM UCITS ETF) and XDWE.L (Xtrackers S&P 500 Equal Weight UCITS ETF 1C) are both S&P 500 funds - PQVM.L tracks the S&P 500 Quality, Value, and Momentum Multi-Factor Index while XDWE.L tracks the S&P 500 Equal Weight Index. Both are passively managed. Over the past 5 years, PQVM.L returned 15.45%/yr vs 8.21%/yr for XDWE.L. A 0.79 correlation means they provide meaningful diversification when combined. PQVM.L charges 0.35%/yr vs 0.20%/yr for XDWE.L.

Performance

PQVM.L vs. XDWE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 QVM UCITS ETF (PQVM.L) and Xtrackers S&P 500 Equal Weight UCITS ETF 1C (XDWE.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

PQVM.L is traded in USD, while XDWE.L is traded in GBp. To make them comparable, the XDWE.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, PQVM.L achieves a 16.65% return, which is significantly higher than XDWE.L's 9.31% return.

PQVM.L

1D
0.39%
1M
4.36%
YTD
16.65%
6M
17.79%
1Y
22.76%
3Y*
24.37%
5Y*
15.45%
10Y*
—

XDWE.L

1D
0.47%
1M
3.89%
YTD
9.31%
6M
10.79%
1Y
19.85%
3Y*
15.13%
5Y*
8.21%
10Y*
11.52%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PQVM.L vs. XDWE.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PQVM.L
Invesco S&P 500 QVM UCITS ETF		16.65%13.66%30.17%6.82%0.52%26.13%8.05%25.07%-6.99%18.70%
XDWE.L
Xtrackers S&P 500 Equal Weight UCITS ETF 1C		9.31%11.79%12.16%13.47%-11.89%30.18%11.20%28.85%-9.15%12.75%

Correlation

The correlation between PQVM.L and XDWE.L is 0.67, 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

0.67

Correlation (3Y)
Calculated over the trailing 3-year period

0.72

Correlation (5Y)
Calculated over the trailing 5-year period

0.77

Correlation (All Time)
Calculated using the full available price history since May 24, 2017

0.79

The correlation between PQVM.L and XDWE.L shifts across timeframes, from 0.67 (1 year) to 0.79 (all time), reflecting how their relationship changes across market environments.

PQVM.L vs. XDWE.L - Sectors Allocation Comparison

Sectors
PQVM.L
XDWE.L

Technology

25.6%
18.3%

Financial Services

22.0%
14.4%

Industrials

13.7%
14.7%

Healthcare

9.4%
10.9%

Communication Services

9.1%
4.0%

Energy

5.6%
4.6%

Consumer Defensive

5.5%
6.5%

Consumer Cyclical

4.2%
10.3%

Utilities

2.8%
6.1%

Basic Materials

2.2%
4.1%

Real Estate

-

6.2%

Technology

PQVM.L
25.6%
XDWE.L
18.3%

Financial Services

PQVM.L
22.0%
XDWE.L
14.4%

Industrials

PQVM.L
13.7%
XDWE.L
14.7%

Healthcare

PQVM.L
9.4%
XDWE.L
10.9%

Communication Services

PQVM.L
9.1%
XDWE.L
4.0%

Energy

PQVM.L
5.6%
XDWE.L
4.6%

Consumer Defensive

PQVM.L
5.5%
XDWE.L
6.5%

Consumer Cyclical

PQVM.L
4.2%
XDWE.L
10.3%

Utilities

PQVM.L
2.8%
XDWE.L
6.1%

Basic Materials

PQVM.L
2.2%
XDWE.L
4.1%

Real Estate

PQVM.L

-

XDWE.L
6.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco S&P 500 QVM UCITS ETF

Xtrackers S&P 500 Equal Weight UCITS ETF 1C

Often compared with PQVM.L:
PQVM.L vs. SPMOPQVM.L vs. VOOPQVM.L vs. UETW.DEPQVM.L vs. WEBN.DEPQVM.L vs. SPYL.LPQVM.L vs. SWDA.LPQVM.L vs. QQQ
Often compared with XDWE.L:
XDWE.L vs. VUAA.LXDWE.L vs. RSPXDWE.L vs. EWSP.LXDWE.L vs. IUCM.LXDWE.L vs. XESC.LXDWE.L vs. SCHDXDWE.L vs. CNX1.L

Return for Risk

PQVM.L vs. XDWE.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PQVM.L
PQVM.L Risk / Return Rank: 7373
Overall Rank
PQVM.L Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
PQVM.L Sortino Ratio Rank: 7171
Sortino Ratio Rank
PQVM.L Omega Ratio Rank: 6262
Omega Ratio Rank
PQVM.L Calmar Ratio Rank: 8686
Calmar Ratio Rank
PQVM.L Martin Ratio Rank: 8282
Martin Ratio Rank
XDWE.L
XDWE.L Risk / Return Rank: 6868
Overall Rank
XDWE.L Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
XDWE.L Sortino Ratio Rank: 6666
Sortino Ratio Rank
XDWE.L Omega Ratio Rank: 6666
Omega Ratio Rank
XDWE.L Calmar Ratio Rank: 7575
Calmar Ratio Rank
XDWE.L Martin Ratio Rank: 6666
Martin Ratio Rank
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.

PQVM.L vs. XDWE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 QVM UCITS ETF (PQVM.L) and Xtrackers S&P 500 Equal Weight UCITS ETF 1C (XDWE.L). 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.

PQVM.LXDWE.LDifference
Sharpe ratioReturn per unit of total volatility
2.06
1.91

+0.15

Sortino ratioReturn per unit of downside risk
3.15
2.88

+0.27

Omega ratioGain probability vs. loss probability

1.37

1.33

+0.04

Calmar ratioReturn relative to maximum drawdown

4.70

2.79

+1.90

Martin ratioReturn relative to average drawdown

16.26

10.07

+6.19

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PQVM.L vs. XDWE.L - Sharpe Ratio Comparison

The current PQVM.L Sharpe Ratio is 2.06, which is comparable to the XDWE.L Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of PQVM.L and XDWE.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

PQVM.LXDWE.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.06

1.91

+0.15

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.96

0.53

+0.43

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.68

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.87

0.62

+0.26

Drawdowns

PQVM.L vs. XDWE.L - Drawdown Comparison

The maximum PQVM.L drawdown since its inception was -34.42%, smaller than the maximum XDWE.L drawdown of -38.50%. Use the drawdown chart below to compare losses from any high point for PQVM.L and XDWE.L.

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Drawdown Indicators

PQVM.LXDWE.LDifference

Max Drawdown

Largest peak-to-trough decline

-34.42%

-38.50%

+4.08%

Max Drawdown (1Y)

Largest decline over 1 year

-4.83%

-7.08%

+2.25%

Max Drawdown (3Y)

Largest decline over 3 years

-15.49%

-18.27%

+2.78%

Max Drawdown (5Y)

Largest decline over 5 years

-17.35%

-21.62%

+4.27%

Max Drawdown (10Y)

Largest decline over 10 years

—

-38.50%

—

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-3.90%

-4.53%

+0.63%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.40%

1.97%

-0.57%

Volatility

PQVM.L vs. XDWE.L - Volatility Comparison

Invesco S&P 500 QVM UCITS ETF (PQVM.L) has a higher volatility of 3.15% compared to Xtrackers S&P 500 Equal Weight UCITS ETF 1C (XDWE.L) at 2.25%. This indicates that PQVM.L's price experiences larger fluctuations and is considered to be riskier than XDWE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PQVM.LXDWE.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.15%

2.25%

+0.90%

Volatility (6M)

Calculated over the trailing 6-month period

8.76%

7.04%

+1.72%

Volatility (1Y)

Calculated over the trailing 1-year period

11.01%

10.34%

+0.67%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.13%

15.50%

+0.63%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.13%

16.98%

+0.15%

PQVM.L vs. XDWE.L - Expense Ratio Comparison

PQVM.L has a 0.35% expense ratio, which is higher than XDWE.L's 0.20% expense ratio.

Dividends

PQVM.L vs. XDWE.L - Dividend Comparison

PQVM.L's dividend yield for the trailing twelve months is around 0.77%, while XDWE.L has not paid dividends to shareholders.

PositionTTM202520242023202220212020201920182017
PQVM.L
Invesco S&P 500 QVM UCITS ETF		0.77%0.82%0.84%1.58%1.79%0.89%1.48%1.38%1.68%0.71%
XDWE.L
Xtrackers S&P 500 Equal Weight UCITS ETF 1C		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

PQVM.L and XDWE.L have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XDWE.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XDWE.L is cheaper with a 0.20% expense ratio, compared with 0.35% for PQVM.L.

PQVM.L tracks S&P 500 Quality, Value, and Momentum Multi-Factor Index, while XDWE.L tracks S&P 500 Equal Weight Index. They also come from different issuers: Invesco and Xtrackers. Their fees differ too: 0.35% for PQVM.L and 0.20% for XDWE.L.

Portfolio Optimizer

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