PWB vs. ITOT

Last updated Jun 3, 2026

PWB (Invesco Dynamic Large Cap Growth ETF) and ITOT (iShares Core S&P Total U.S. Stock Market ETF) are both Large Cap Growth Equities funds - PWB tracks the Dynamic Large Cap Growth Intellidex Index while ITOT tracks the S&P Composite 1500 Index. Both are passively managed. Over the past 10 years, PWB returned 18.44%/yr vs 15.10%/yr for ITOT. Their correlation of 0.90 suggests significant overlap in exposure. PWB charges 0.56%/yr vs 0.03%/yr for ITOT.

Performance

PWB vs. ITOT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dynamic Large Cap Growth ETF (PWB) and iShares Core S&P Total U.S. Stock Market ETF (ITOT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PWB achieves a 28.40% return, which is significantly higher than ITOT's 12.07% return. Over the past 10 years, PWB has outperformed ITOT with an annualized return of 18.44%, while ITOT has yielded a comparatively lower 15.10% annualized return.

PWB

• 1D: 0.50%
• 1M: 10.85%
• YTD: 28.40%
• 6M: 28.76%
• 1Y: 46.56%
• 3Y*: 34.40%
• 5Y*: 18.57%
• 10Y*: 18.44%

ITOT

• 1D: 0.25%
• 1M: 5.39%
• YTD: 12.07%
• 6M: 12.47%
• 1Y: 29.98%
• 3Y*: 22.39%
• 5Y*: 13.05%
• 10Y*: 15.10%

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

PWB vs. ITOT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PWB Invesco Dynamic Large Cap Growth ETF	28.40%	24.94%	31.04%	30.61%	-25.81%	19.58%	31.89%	24.68%	0.88%	30.71%
ITOT iShares Core S&P Total U.S. Stock Market ETF	12.07%	17.00%	23.80%	26.12%	-19.47%	25.68%	20.71%	30.67%	-5.33%	21.37%

Correlation

The correlation between PWB and ITOT is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Mar 4, 2005	0.90

The correlation between PWB and ITOT has been stable across timeframes, ranging from 0.88 to 0.93 - a consistent structural relationship.

PWB vs. ITOT - Sectors Allocation Comparison

Sectors	PWB	ITOT
Technology	44.6%	33.8%
Industrials	15.9%	9.5%
Communication Services	10.9%	10.3%
Financial Services	10.3%	12.1%
Consumer Defensive	8.4%	4.7%
Consumer Cyclical	5.2%	10.1%
Healthcare	3.6%	9.0%
Utilities	1.6%	2.3%
Basic Materials	1.1%	2.1%
Energy	-	3.7%
Real Estate	-	2.4%

Return for Risk

PWB vs. ITOT — Risk / Return Rank

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

PWB

PWB Risk / Return Rank: 75
PWB Sharpe Ratio Rank: 77
PWB Sortino Ratio Rank: 71
PWB Omega Ratio Rank: 70
PWB Calmar Ratio Rank: 77
PWB Martin Ratio Rank: 83

ITOT

ITOT Risk / Return Rank: 74
ITOT Sharpe Ratio Rank: 75
ITOT Sortino Ratio Rank: 73
ITOT Omega Ratio Rank: 74
ITOT Calmar Ratio Rank: 69
ITOT Martin Ratio Rank: 80

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. ITOT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Large Cap Growth ETF (PWB) and iShares Core S&P Total U.S. Stock Market ETF (ITOT). 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	ITOT	Difference
Sharpe ratio Return per unit of total volatility	2.53	2.47	+0.06
Sortino ratio Return per unit of downside risk	3.27	3.36	-0.09
Omega ratio Gain probability vs. loss probability	1.42	1.44	-0.02
Calmar ratio Return relative to maximum drawdown	3.95	3.45	+0.51
Martin ratio Return relative to average drawdown	17.10	15.85	+1.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PWB vs. ITOT - Sharpe Ratio Comparison

The current PWB Sharpe Ratio is 2.53, which is comparable to the ITOT Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of PWB and ITOT, 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

	PWB	ITOT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.53	2.47	+0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.89	0.76	+0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.89	0.83	+0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.57	+0.04

Drawdowns

PWB vs. ITOT - Drawdown Comparison

The maximum PWB drawdown since its inception was -52.58%, roughly equal to the maximum ITOT drawdown of -55.20%. Use the drawdown chart below to compare losses from any high point for PWB and ITOT.

Drawdown Indicators

	PWB	ITOT	Difference
Max Drawdown Largest peak-to-trough decline	-52.58%	-55.20%	+2.62%
Max Drawdown (1Y) Largest decline over 1 year	-12.11%	-8.90%	-3.21%
Max Drawdown (3Y) Largest decline over 3 years	-22.10%	-19.44%	-2.66%
Max Drawdown (5Y) Largest decline over 5 years	-31.41%	-25.36%	-6.05%
Max Drawdown (10Y) Largest decline over 10 years	-32.36%	-35.00%	+2.64%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-8.24%	-6.97%	-1.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.80%	1.93%	+0.87%

Volatility

PWB vs. ITOT - Volatility Comparison

Invesco Dynamic Large Cap Growth ETF (PWB) has a higher volatility of 5.39% compared to iShares Core S&P Total U.S. Stock Market ETF (ITOT) at 2.89%. This indicates that PWB's price experiences larger fluctuations and is considered to be riskier than ITOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PWB	ITOT	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.39%	2.89%	+2.50%
Volatility (6M) Calculated over the trailing 6-month period	15.03%	9.11%	+5.92%
Volatility (1Y) Calculated over the trailing 1-year period	18.48%	12.18%	+6.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.00%	17.36%	+3.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.71%	18.27%	+2.44%

PWB vs. ITOT - Expense Ratio Comparison

PWB has a 0.56% expense ratio, which is higher than ITOT's 0.03% expense ratio.

Dividends

PWB vs. ITOT - Dividend Comparison

PWB has not paid dividends to shareholders, while ITOT's dividend yield for the trailing twelve months is around 0.97%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ITOT iShares Core S&P Total U.S. Stock Market ETF	0.97%	1.11%	1.23%	1.47%	1.66%	1.18%	1.41%	1.88%	2.14%	1.69%	1.83%	2.01%
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 ITOT in my portfolio?

PWB and ITOT have a correlation of 0.88, 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 ITOT?

PWB has higher volatility (5.39%) compared to ITOT (2.89%). In terms of maximum drawdown, PWB dropped -52.58% vs ITOT's -55.20%.

Which ETF is better, PWB or ITOT?

On 10-year performance, PWB leads with 18.44% vs 15.10% for ITOT. On fees, ITOT is cheaper at 0.03% per year. On volatility, ITOT has been the lower-risk option at 2.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PWB or ITOT?

Over the 10-year period, PWB has performed better with a 18.44% return vs 15.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PWB or ITOT?

ITOT is cheaper with a 0.03% expense ratio, compared with 0.56% for PWB.

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

ITOT has the higher dividend yield at 0.97%, compared with 0.00% for PWB.

What is the main difference between PWB and ITOT?

PWB tracks Dynamic Large Cap Growth Intellidex Index, while ITOT tracks S&P Composite 1500 Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.56% for PWB and 0.03% for ITOT.

Which has better risk-adjusted returns?

PWB currently has the higher Sharpe Ratio (2.53 vs 2.47), 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.