PWB vs. QARP
PWB (Invesco Dynamic Large Cap Growth ETF) and QARP (Xtrackers Russell 1000 US Quality at a Reasonable Price ETF) are both Large Cap Growth Equities funds - PWB tracks the Dynamic Large Cap Growth Intellidex Index while QARP tracks the Russell 1000 2Qual/Val 5% Capped Factor Index. Both are passively managed. Over the past 5 years, PWB returned 16.30%/yr vs 12.09%/yr for QARP. Their correlation of 0.82 suggests significant overlap in exposure. PWB charges 0.56%/yr vs 0.19%/yr for QARP.
Performance
PWB vs. QARP - Performance Comparison
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Returns By Period
In the year-to-date period, PWB achieves a 22.59% return, which is significantly higher than QARP's 12.78% return.
PWB
- 1D
- -2.15%
- 1M
- -4.30%
- 6M
- 17.36%
- YTD
- 22.59%
- 1Y
- 33.06%
- 3Y*
- 29.62%
- 5Y*
- 16.30%
- 10Y*
- 17.55%
QARP
- 1D
- 0.71%
- 1M
- 1.10%
- 6M
- 9.34%
- YTD
- 12.78%
- 1Y
- 25.00%
- 3Y*
- 17.33%
- 5Y*
- 12.09%
- 10Y*
- —
PWB vs. QARP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PWB Invesco Dynamic Large Cap Growth ETF | 22.59% | 24.94% | 31.04% | 30.61% | -25.81% | 19.58% | 31.89% | 24.68% | -2.38% |
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | 12.78% | 13.99% | 18.94% | 23.03% | -14.62% | 31.82% | 14.83% | 30.70% | -5.53% |
Correlation
The correlation between PWB and QARP is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2018 | 0.82 |
The correlation between PWB and QARP shifts across timeframes, from 0.69 (1 year) to 0.84 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PWB vs. QARP — Risk / Return Rank
PWB
QARP
PWB vs. QARP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Large Cap Growth ETF (PWB) and Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (QARP). 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 | QARP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.88 | ||
| Sortino ratioReturn per unit of downside risk | -1.33 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.43 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.74 | 3.46 | -0.71 |
| Martin ratioReturn relative to average drawdown | 10.56 | 15.38 | -4.82 |
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Drawdowns
PWB vs. QARP - Drawdown Comparison
The maximum PWB drawdown since its inception was -52.58%, which is greater than QARP's maximum drawdown of -35.44%. Use the drawdown chart below to compare losses from any high point for PWB and QARP.
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Drawdown Indicators
| PWB | QARP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.58% | -35.44% | -17.14% |
Max Drawdown (1Y)Largest decline over 1 year | -12.11% | -7.26% | -4.85% |
Max Drawdown (3Y)Largest decline over 3 years | -22.10% | -15.65% | -6.45% |
Max Drawdown (5Y)Largest decline over 5 years | -31.41% | -22.75% | -8.66% |
Max Drawdown (10Y)Largest decline over 10 years | -32.36% | — | — |
Current DrawdownCurrent decline from peak | -7.52% | 0.00% | -7.52% |
Average DrawdownAverage peak-to-trough decline | -8.21% | -4.39% | -3.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.14% | 1.63% | +1.51% |
Volatility
PWB vs. QARP - Volatility Comparison
Invesco Dynamic Large Cap Growth ETF (PWB) has a higher volatility of 10.38% compared to Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (QARP) at 2.76%. This indicates that PWB's price experiences larger fluctuations and is considered to be riskier than QARP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PWB | QARP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.38% | 2.76% | +7.62% |
Volatility (6M)Calculated over the trailing 6-month period | 19.08% | 8.22% | +10.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.17% | 10.58% | +11.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.72% | 15.54% | +6.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.05% | 19.55% | +1.50% |
PWB vs. QARP - Expense Ratio Comparison
PWB has a 0.56% expense ratio, which is higher than QARP's 0.19% expense ratio.
Dividends
PWB vs. QARP - Dividend Comparison
PWB has not paid dividends to shareholders, while QARP's dividend yield for the trailing twelve months is around 1.02%.
| Position | 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% |
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | 1.02% | 1.14% | 1.39% | 1.28% | 1.68% | 1.34% | 1.61% | 1.85% | 1.39% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PWB and QARP have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PWB has higher volatility (10.38%) compared to QARP (2.76%). In terms of maximum drawdown, PWB dropped -52.58% vs QARP's -35.44%.
On 5-year performance, PWB leads with 16.30% vs 12.09% for QARP. On fees, QARP is cheaper at 0.19% per year. On volatility, QARP has been the lower-risk option at 2.76%. 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 16.30% return vs 12.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QARP is cheaper with a 0.19% expense ratio, compared with 0.56% for PWB.
QARP has the higher dividend yield at 1.02%, compared with 0.00% for PWB.
PWB tracks Dynamic Large Cap Growth Intellidex Index, while QARP tracks Russell 1000 2Qual/Val 5% Capped Factor Index. They also come from different issuers: Invesco and Deutsche Bank. Their fees differ too: 0.56% for PWB and 0.19% for QARP.
QARP currently has the higher Sharpe Ratio (2.38 vs 1.50), 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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