PWB vs. VEGN
PWB (Invesco Dynamic Large Cap Growth ETF) and VEGN (US Vegan Climate ETF) are both Large Cap Growth Equities funds - PWB tracks the Dynamic Large Cap Growth Intellidex Index while VEGN tracks the US Vegan Climate Index. Both are passively managed. Over the past 5 years, PWB returned 16.41%/yr vs 15.05%/yr for VEGN. Their correlation of 0.92 suggests significant overlap in exposure. PWB charges 0.56%/yr vs 0.60%/yr for VEGN.
Performance
PWB vs. VEGN - Performance Comparison
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Returns By Period
In the year-to-date period, PWB achieves a 24.96% return, which is significantly lower than VEGN's 28.42% return.
PWB
- 1D
- -2.16%
- 1M
- -0.81%
- 6M
- 19.67%
- YTD
- 24.96%
- 1Y
- 36.90%
- 3Y*
- 30.77%
- 5Y*
- 16.41%
- 10Y*
- 17.80%
VEGN
- 1D
- -1.84%
- 1M
- -0.68%
- 6M
- 25.46%
- YTD
- 28.42%
- 1Y
- 40.69%
- 3Y*
- 25.82%
- 5Y*
- 15.05%
- 10Y*
- —
PWB vs. VEGN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
PWB Invesco Dynamic Large Cap Growth ETF | 24.96% | 24.94% | 31.04% | 30.61% | -25.81% | 19.58% | 31.89% | 4.99% |
VEGN US Vegan Climate ETF | 28.42% | 13.71% | 25.42% | 38.10% | -26.87% | 26.01% | 27.72% | 9.45% |
Correlation
The correlation between PWB and VEGN 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 | 0.92 |
Correlation (All Time) Calculated using the full available price history since Sep 10, 2019 | 0.92 |
The correlation between PWB and VEGN has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.
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Return for Risk
PWB vs. VEGN — Risk / Return Rank
PWB
VEGN
PWB vs. VEGN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Large Cap Growth ETF (PWB) and US Vegan Climate ETF (VEGN). 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 | VEGN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.42 | ||
| Sortino ratioReturn per unit of downside risk | -0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.36 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.06 | 3.45 | -0.39 |
| Martin ratioReturn relative to average drawdown | 12.04 | 12.97 | -0.93 |
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Drawdowns
PWB vs. VEGN - Drawdown Comparison
The maximum PWB drawdown since its inception was -52.58%, which is greater than VEGN's maximum drawdown of -34.14%. Use the drawdown chart below to compare losses from any high point for PWB and VEGN.
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Drawdown Indicators
| PWB | VEGN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.58% | -34.14% | -18.44% |
Max Drawdown (1Y)Largest decline over 1 year | -12.11% | -11.85% | -0.26% |
Max Drawdown (3Y)Largest decline over 3 years | -22.10% | -20.91% | -1.19% |
Max Drawdown (5Y)Largest decline over 5 years | -31.41% | -33.40% | +1.99% |
Max Drawdown (10Y)Largest decline over 10 years | -32.36% | — | — |
Current DrawdownCurrent decline from peak | -5.74% | -5.30% | -0.44% |
Average DrawdownAverage peak-to-trough decline | -8.21% | -7.52% | -0.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.07% | 3.15% | -0.08% |
Volatility
PWB vs. VEGN - Volatility Comparison
Invesco Dynamic Large Cap Growth ETF (PWB) has a higher volatility of 11.34% compared to US Vegan Climate ETF (VEGN) at 9.85%. This indicates that PWB's price experiences larger fluctuations and is considered to be riskier than VEGN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PWB | VEGN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.34% | 9.85% | +1.49% |
Volatility (6M)Calculated over the trailing 6-month period | 18.88% | 17.05% | +1.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.01% | 19.44% | +2.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.68% | 20.84% | +0.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.04% | 22.99% | -1.95% |
PWB vs. VEGN - Expense Ratio Comparison
PWB has a 0.56% expense ratio, which is lower than VEGN's 0.60% expense ratio.
Dividends
PWB vs. VEGN - Dividend Comparison
PWB has not paid dividends to shareholders, while VEGN's dividend yield for the trailing twelve months is around 0.50%.
| 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% |
VEGN US Vegan Climate ETF | 0.50% | 0.51% | 0.51% | 0.67% | 0.81% | 0.41% | 0.71% | 0.29% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PWB and VEGN 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 (11.34%) compared to VEGN (9.85%). In terms of maximum drawdown, PWB dropped -52.58% vs VEGN's -34.14%.
On 5-year performance, PWB leads with 16.41% vs 15.05% for VEGN. On fees, PWB is cheaper at 0.56% per year. On volatility, VEGN has been the lower-risk option at 9.85%. 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 16.41% return vs 15.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PWB is cheaper with a 0.56% expense ratio, compared with 0.60% for VEGN.
VEGN has the higher dividend yield at 0.50%, compared with 0.00% for PWB.
PWB tracks Dynamic Large Cap Growth Intellidex Index, while VEGN tracks US Vegan Climate Index. They also come from different issuers: Invesco and Beyond Investing. Their fees differ too: 0.56% for PWB and 0.60% for VEGN.
VEGN currently has the higher Sharpe Ratio (2.11 vs 1.69), 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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