PWB vs. PBUS
PWB (Invesco Dynamic Large Cap Growth ETF) and PBUS (Invesco PureBeta MSCI USA ETF) are both Large Cap Growth Equities funds from Invesco - PWB tracks the Dynamic Large Cap Growth Intellidex Index while PBUS tracks the MSCI USA Index. Both are passively managed. Over the past 5 years, PWB returned 17.17%/yr vs 12.60%/yr for PBUS. Their correlation of 0.83 suggests significant overlap in exposure. PWB charges 0.56%/yr vs 0.04%/yr for PBUS.
Performance
PWB vs. PBUS - Performance Comparison
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Returns By Period
In the year-to-date period, PWB achieves a 26.79% return, which is significantly higher than PBUS's 8.10% return.
PWB
- 1D
- -4.36%
- 1M
- 4.17%
- YTD
- 26.79%
- 6M
- 24.81%
- 1Y
- 42.75%
- 3Y*
- 32.92%
- 5Y*
- 17.17%
- 10Y*
- 18.61%
PBUS
- 1D
- -1.41%
- 1M
- -1.27%
- YTD
- 8.10%
- 6M
- 7.04%
- 1Y
- 23.30%
- 3Y*
- 20.88%
- 5Y*
- 12.60%
- 10Y*
- —
PWB vs. PBUS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PWB Invesco Dynamic Large Cap Growth ETF | 26.79% | 24.94% | 31.04% | 30.61% | -25.81% | 19.58% | 31.89% | 24.68% | 0.88% | 7.45% |
PBUS Invesco PureBeta MSCI USA ETF | 8.10% | 17.58% | 24.99% | 27.33% | -19.64% | 26.77% | 21.75% | 31.60% | -4.77% | 7.13% |
Correlation
The correlation between PWB and PBUS is 0.89, 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 | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2017 | 0.83 |
The correlation between PWB and PBUS shifts across timeframes, from 0.83 (all time) to 0.93 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PWB vs. PBUS — Risk / Return Rank
PWB
PBUS
PWB vs. PBUS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Large Cap Growth ETF (PWB) and Invesco PureBeta MSCI USA ETF (PBUS). 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 | PBUS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.33 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.55 | 2.59 | +0.95 |
| Martin ratioReturn relative to average drawdown | 14.75 | 11.32 | +3.43 |
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Drawdowns
PWB vs. PBUS - Drawdown Comparison
The maximum PWB drawdown since its inception was -52.58%, which is greater than PBUS's maximum drawdown of -33.15%. Use the drawdown chart below to compare losses from any high point for PWB and PBUS.
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Drawdown Indicators
| PWB | PBUS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.58% | -33.15% | -19.43% |
Max Drawdown (1Y)Largest decline over 1 year | -12.11% | -9.02% | -3.09% |
Max Drawdown (3Y)Largest decline over 3 years | -22.10% | -19.07% | -3.03% |
Max Drawdown (5Y)Largest decline over 5 years | -31.41% | -25.40% | -6.01% |
Max Drawdown (10Y)Largest decline over 10 years | -32.36% | — | — |
Current DrawdownCurrent decline from peak | -4.36% | -3.08% | -1.28% |
Average DrawdownAverage peak-to-trough decline | -8.22% | -5.11% | -3.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.91% | 2.06% | +0.85% |
Volatility
PWB vs. PBUS - Volatility Comparison
Invesco Dynamic Large Cap Growth ETF (PWB) has a higher volatility of 10.34% compared to Invesco PureBeta MSCI USA ETF (PBUS) at 5.01%. This indicates that PWB's price experiences larger fluctuations and is considered to be riskier than PBUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PWB | PBUS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.34% | 5.01% | +5.33% |
Volatility (6M)Calculated over the trailing 6-month period | 17.43% | 10.10% | +7.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.72% | 12.77% | +7.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.41% | 17.16% | +4.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.91% | 19.34% | +1.57% |
PWB vs. PBUS - Expense Ratio Comparison
PWB has a 0.56% expense ratio, which is higher than PBUS's 0.04% expense ratio.
Dividends
PWB vs. PBUS - Dividend Comparison
PWB has not paid dividends to shareholders, while PBUS's dividend yield for the trailing twelve months is around 1.04%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBUS Invesco PureBeta MSCI USA ETF | 1.04% | 1.05% | 1.20% | 1.36% | 1.71% | 0.98% | 1.35% | 1.53% | 2.33% | 0.50% | 0.00% | 0.00% |
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
PWB and PBUS have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PWB has higher volatility (10.34%) compared to PBUS (5.01%). In terms of maximum drawdown, PWB dropped -52.58% vs PBUS's -33.15%.
On 5-year performance, PWB leads with 17.17% vs 12.60% for PBUS. On fees, PBUS is cheaper at 0.04% per year. On volatility, PBUS has been the lower-risk option at 5.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PWB has performed better with a 17.17% return vs 12.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PBUS is cheaper with a 0.04% expense ratio, compared with 0.56% for PWB.
PBUS has the higher dividend yield at 1.04%, compared with 0.00% for PWB.
PWB tracks Dynamic Large Cap Growth Intellidex Index, while PBUS tracks MSCI USA Index. Their fees differ too: 0.56% for PWB and 0.04% for PBUS.
PWB currently has the higher Sharpe Ratio (2.08 vs 1.84), 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.
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