PWB vs. GVIP
Compare and contrast key facts about Invesco Dynamic Large Cap Growth ETF (PWB) and Goldman Sachs Hedge Industry VIP ETF (GVIP).
PWB and GVIP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PWB is a passively managed fund by Invesco that tracks the performance of the Dynamic Large Cap Growth Intellidex Index. It was launched on Mar 3, 2005. GVIP is a passively managed fund by Goldman Sachs that tracks the performance of the Goldman Sachs Hedge Fund VIP Index. It was launched on Nov 1, 2016. Both PWB and GVIP are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
PWB vs. GVIP - Performance Comparison
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PWB vs. GVIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PWB Invesco Dynamic Large Cap Growth ETF | -0.93% | 24.94% | 31.04% | 30.61% | -25.81% | 19.58% | 31.89% | 24.68% | 0.88% | 30.71% |
GVIP Goldman Sachs Hedge Industry VIP ETF | -5.92% | 25.27% | 29.82% | 39.15% | -31.95% | 11.86% | 44.12% | 30.21% | -6.85% | 25.79% |
Returns By Period
In the year-to-date period, PWB achieves a -0.93% return, which is significantly higher than GVIP's -5.92% return.
PWB
- 1D
- 3.98%
- 1M
- -7.08%
- YTD
- -0.93%
- 6M
- 0.41%
- 1Y
- 31.12%
- 3Y*
- 24.82%
- 5Y*
- 12.92%
- 10Y*
- 15.44%
GVIP
- 1D
- 4.35%
- 1M
- -6.82%
- YTD
- -5.92%
- 6M
- -4.60%
- 1Y
- 24.04%
- 3Y*
- 24.28%
- 5Y*
- 8.97%
- 10Y*
- —
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PWB vs. GVIP - Expense Ratio Comparison
PWB has a 0.56% expense ratio, which is higher than GVIP's 0.45% expense ratio.
Return for Risk
PWB vs. GVIP — Risk / Return Rank
PWB
GVIP
PWB vs. GVIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Large Cap Growth ETF (PWB) and Goldman Sachs Hedge Industry VIP ETF (GVIP). 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.
| PWB | GVIP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.35 | 1.04 | +0.31 |
Sortino ratioReturn per unit of downside risk | 1.92 | 1.55 | +0.38 |
Omega ratioGain probability vs. loss probability | 1.27 | 1.22 | +0.05 |
Calmar ratioReturn relative to maximum drawdown | 2.59 | 1.76 | +0.83 |
Martin ratioReturn relative to average drawdown | 10.04 | 6.94 | +3.10 |
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
| PWB | GVIP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.35 | 1.04 | +0.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.62 | 0.43 | +0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.75 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.55 | 0.71 | -0.17 |
Correlation
The correlation between PWB and GVIP is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
PWB vs. GVIP - Dividend Comparison
PWB has not paid dividends to shareholders, while GVIP's dividend yield for the trailing twelve months is around 0.36%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
GVIP Goldman Sachs Hedge Industry VIP ETF | 0.36% | 0.34% | 0.29% | 0.77% | 0.02% | 0.00% | 0.12% | 0.77% | 0.44% | 0.45% | 0.08% | 0.00% |
Drawdowns
PWB vs. GVIP - Drawdown Comparison
The maximum PWB drawdown since its inception was -52.58%, which is greater than GVIP's maximum drawdown of -37.09%. Use the drawdown chart below to compare losses from any high point for PWB and GVIP.
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Drawdown Indicators
| PWB | GVIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.58% | -37.09% | -15.49% |
Max Drawdown (1Y)Largest decline over 1 year | -12.11% | -13.67% | +1.56% |
Max Drawdown (5Y)Largest decline over 5 years | -31.41% | -37.09% | +5.68% |
Max Drawdown (10Y)Largest decline over 10 years | -32.36% | — | — |
Current DrawdownCurrent decline from peak | -8.61% | -9.91% | +1.30% |
Average DrawdownAverage peak-to-trough decline | -8.29% | -7.71% | -0.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.12% | 3.47% | -0.35% |
Volatility
PWB vs. GVIP - Volatility Comparison
The current volatility for Invesco Dynamic Large Cap Growth ETF (PWB) is 7.98%, while Goldman Sachs Hedge Industry VIP ETF (GVIP) has a volatility of 8.62%. This indicates that PWB experiences smaller price fluctuations and is considered to be less risky than GVIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PWB | GVIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.98% | 8.62% | -0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 15.16% | 14.52% | +0.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.23% | 23.32% | -0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.96% | 21.19% | -0.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.58% | 21.68% | -1.10% |