PWB vs. ARKK

Last updated Jun 14, 2026

PWB (Invesco Dynamic Large Cap Growth ETF) and ARKK (ARK Innovation ETF) are both exchange-traded funds - PWB is a Large Cap Growth Equities fund tracking the Dynamic Large Cap Growth Intellidex Index, while ARKK is a Technology Equities fund actively managed by ARK. PWB is passively managed, while ARKK is actively managed. Over the past 10 years, PWB returned 18.33%/yr vs 15.57%/yr for ARKK. A 0.70 correlation means they provide meaningful diversification when combined. PWB charges 0.56%/yr vs 0.75%/yr for ARKK.

Performance

PWB vs. ARKK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dynamic Large Cap Growth ETF (PWB) and ARK Innovation ETF (ARKK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PWB achieves a 25.98% return, which is significantly higher than ARKK's -1.65% return. Over the past 10 years, PWB has outperformed ARKK with an annualized return of 18.33%, while ARKK has yielded a comparatively lower 15.57% annualized return.

PWB

• 1D: 1.29%
• 1M: 2.46%
• YTD: 25.98%
• 6M: 26.73%
• 1Y: 43.40%
• 3Y*: 32.74%
• 5Y*: 17.69%
• 10Y*: 18.33%

ARKK

• 1D: 0.25%
• 1M: -3.01%
• YTD: -1.65%
• 6M: -5.90%
• 1Y: 21.64%
• 3Y*: 19.87%
• 5Y*: -7.96%
• 10Y*: 15.57%

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

PWB vs. ARKK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PWB Invesco Dynamic Large Cap Growth ETF	25.98%	24.94%	31.04%	30.61%	-25.81%	19.58%	31.89%	24.68%	0.88%	30.71%
ARKK ARK Innovation ETF	-1.65%	35.49%	8.40%	69.04%	-66.97%	-23.60%	152.71%	35.08%	3.52%	87.33%

Correlation

The correlation between PWB and ARKK is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.72
Correlation (All Time) Calculated using the full available price history since Oct 31, 2014	0.70

The correlation between PWB and ARKK has been stable across timeframes, ranging from 0.69 to 0.72 - a consistent structural relationship.

PWB vs. ARKK - Sectors Allocation Comparison

Sectors	PWB	ARKK
Technology	48.9%	25.9%
Industrials	14.8%	5.7%
Communication Services	10.6%	10.0%
Financial Services	9.2%	16.2%
Consumer Defensive	7.4%	-
Consumer Cyclical	4.8%	14.1%
Healthcare	3.2%	28.1%
Utilities	1.6%	-
Basic Materials	1.2%	-
Energy	-	-
Real Estate	-	-

Return for Risk

PWB vs. ARKK — Risk / Return Rank

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

PWB

PWB Risk / Return Rank: 76
PWB Sharpe Ratio Rank: 77
PWB Sortino Ratio Rank: 71
PWB Omega Ratio Rank: 72
PWB Calmar Ratio Rank: 77
PWB Martin Ratio Rank: 83

ARKK

ARKK Risk / Return Rank: 20
ARKK Sharpe Ratio Rank: 21
ARKK Sortino Ratio Rank: 22
ARKK Omega Ratio Rank: 20
ARKK Calmar Ratio Rank: 19
ARKK Martin Ratio Rank: 17

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.

PWB vs. ARKK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Large Cap Growth ETF (PWB) and ARK Innovation ETF (ARKK). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	PWB	ARKK	Difference
Sharpe ratio: Return per unit of total volatility	2.14	0.61	+1.53
Sortino ratio: Return per unit of downside risk	2.78	1.06	+1.72
Omega ratio: Gain probability vs. loss probability	1.37	1.12	+0.24
Calmar ratio: Return relative to maximum drawdown	3.50	0.70	+2.80
Martin ratio: Return relative to average drawdown	14.63	1.53	+13.10

PWB vs. ARKK - Sharpe Ratio Comparison

The current PWB Sharpe Ratio is 2.14, which is higher than the ARKK Sharpe Ratio of 0.61. The chart below compares the historical Sharpe Ratios of PWB and ARKK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PWB vs. ARKK - Drawdown Comparison

The maximum PWB drawdown since its inception was -52.58%, smaller than the maximum ARKK drawdown of -80.97%. Use the drawdown chart below to compare losses from any high point for PWB and ARKK.

Drawdown Indicators

	PWB	ARKK	Difference
Max Drawdown Largest peak-to-trough decline	-52.58%	-80.97%	+28.39%
Max Drawdown (1Y) Largest decline over 1 year	-12.11%	-31.35%	+19.24%
Max Drawdown (3Y) Largest decline over 3 years	-22.10%	-39.56%	+17.46%
Max Drawdown (5Y) Largest decline over 5 years	-31.41%	-77.23%	+45.82%
Max Drawdown (10Y) Largest decline over 10 years	-32.36%	-80.97%	+48.61%
Current Drawdown Current decline from peak	-2.10%	-51.01%	+48.91%
Average Drawdown Average peak-to-trough decline	-8.23%	-30.16%	+21.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.89%	14.39%	-11.50%

Volatility

PWB vs. ARKK - Volatility Comparison

The current volatility for Invesco Dynamic Large Cap Growth ETF (PWB) is 8.70%, while ARK Innovation ETF (ARKK) has a volatility of 11.81%. This indicates that PWB experiences smaller price fluctuations and is considered to be less risky than ARKK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PWB	ARKK	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.70%	11.81%	-3.11%
Volatility (6M) Calculated over the trailing 6-month period	16.70%	26.30%	-9.60%
Volatility (1Y) Calculated over the trailing 1-year period	19.80%	36.28%	-16.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.23%	46.40%	-25.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.83%	40.34%	-19.51%

PWB vs. ARKK - Expense Ratio Comparison

PWB has a 0.56% expense ratio, which is lower than ARKK's 0.75% expense ratio.

Dividends

PWB vs. ARKK - Dividend Comparison

Neither PWB nor ARKK has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARKK ARK Innovation ETF	0.00%	0.00%	0.00%	0.70%	0.00%	0.55%	1.64%	0.38%	3.14%	1.32%	0.00%	2.27%
PWB Invesco Dynamic Large Cap Growth ETF	0.00%	0.00%	0.08%	0.37%	0.31%	0.04%	0.21%	0.58%	0.97%	0.54%	0.82%	0.67%

Frequently Asked Questions

Can I hold both PWB and ARKK in my portfolio?

PWB and ARKK have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PWB or ARKK?

ARKK has higher volatility (11.81%) compared to PWB (8.70%). In terms of maximum drawdown, PWB dropped -52.58% vs ARKK's -80.97%.

Which ETF is better, PWB or ARKK?

On 10-year performance, PWB leads with 18.33% vs 15.57% for ARKK. On fees, PWB is cheaper at 0.56% per year. On volatility, PWB has been the lower-risk option at 8.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PWB or ARKK?

Over the 10-year period, PWB has performed better with a 18.33% return vs 15.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PWB or ARKK?

PWB is cheaper with a 0.56% expense ratio, compared with 0.75% for ARKK.

Which ETF pays a higher dividend yield, PWB or ARKK?

PWB and ARKK have nearly identical dividend yields, around 0.00%.

What is the main difference between PWB and ARKK?

PWB is categorized as Large Cap Growth Equities, while ARKK is Technology Equities. They also come from different issuers: Invesco and ARK. Their fees differ too: 0.56% for PWB and 0.75% for ARKK.

Which has better risk-adjusted returns?

PWB currently has the higher Sharpe Ratio (2.14 vs 0.61), 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.