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PWC vs. EPU
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PWC vs. EPU

Last updated Aug 4, 2026
Documentation

PWC (Invesco Dynamic Market ETF) and EPU (iShares MSCI Peru ETF) are both exchange-traded funds - PWC is a Mid Cap Blend Equities fund tracking the Dynamic Market Intellidex Index, while EPU is a Latin America Equities fund tracking the MSCI All Peru Capped Index. Both are passively managed. Over the past 10 years, PWC returned 9.55%/yr vs 13.28%/yr for EPU. Their 0.45 correlation means their historical movements had little consistent relationship. PWC charges 0.60%/yr vs 0.59%/yr for EPU.

Performance

PWC vs. EPU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dynamic Market ETF (PWC) and iShares MSCI Peru ETF (EPU). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, PWC achieves a 10.69% return, which is significantly lower than EPU's 21.67% return. Over the past 10 years, PWC has underperformed EPU with an annualized return of 9.55%, while EPU has yielded a comparatively higher 13.28% annualized return.

PWC

1D
0.27%
1M
3.19%
6M
5.07%
YTD
10.69%
1Y
14.63%
3Y*
13.34%
5Y*
7.35%
10Y*
9.55%
ALL TIME*
2.96%

EPU

1D
0.72%
1M
2.93%
6M
0.72%
YTD
21.67%
1Y
82.82%
3Y*
43.36%
5Y*
32.28%
10Y*
13.28%
ALL TIME*
10.69%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

EPU

iShares MSCI Peru ETF
$4.58M$4.06M$5.78M

PWC

Invesco Dynamic Market ETF
$45.96K$66.92K$59.96K

PWC vs. EPU - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PWC
Invesco Dynamic Market ETF		10.69%6.15%17.46%19.03%-16.01%19.38%8.52%13.47%-6.40%20.16%
EPU
iShares MSCI Peru ETF		21.67%86.87%21.73%25.34%2.05%-11.81%-4.31%7.30%-12.17%29.70%

Correlation

The correlation between PWC and EPU is 0.29, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.29

Correlation (3Y)
Balances recent behavior with more history.

0.33

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.41

Correlation (10Y)
Provides a long-term view across more market conditions.

0.43

Correlation (All Time)
Calculated using the full available price history since Jun 22, 2009

0.45

The correlation between PWC and EPU shifts across timeframes, from 0.29 (1 year) to 0.45 (all time), reflecting how their relationship changes across market environments.

PWC vs. EPU - Sectors Allocation Comparison

Sectors
PWC
EPU

Financial Services

16.9%
31.6%

Industrials

14.4%
2.9%

Technology

14.2%

-

Healthcare

10.9%
1.0%

Consumer Cyclical

7.4%
4.5%

Communication Services

7.3%
1.4%

Energy

5.8%

-

Basic Materials

5.5%
49.5%

Utilities

5.3%
2.9%

Real Estate

5.3%
3.0%

Consumer Defensive

5.3%
3.3%

Financial Services

PWC
16.9%
EPU
31.6%

Industrials

PWC
14.4%
EPU
2.9%

Technology

PWC
14.2%
EPU

-

Healthcare

PWC
10.9%
EPU
1.0%

Consumer Cyclical

PWC
7.4%
EPU
4.5%

Communication Services

PWC
7.3%
EPU
1.4%

Energy

PWC
5.8%
EPU

-

Basic Materials

PWC
5.5%
EPU
49.5%

Utilities

PWC
5.3%
EPU
2.9%

Real Estate

PWC
5.3%
EPU
3.0%

Consumer Defensive

PWC
5.3%
EPU
3.3%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco Dynamic Market ETF

iShares MSCI Peru ETF

Often compared with PWC:
PWC vs. FWRG.LPWC vs. SPYPWC vs. TUSAPWC vs. SCHGPWC vs. TXSPWC vs. SOXXPWC vs. CGDV
Often compared with EPU:
EPU vs. ECHEPU vs. ILFEPU vs. ARGTEPU vs. EISEPU vs. EVXEPU vs. EPIEPU vs. EWS

Return for Risk

PWC vs. EPU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
PWC
PWC Risk / Return Rank: 5858
Overall Rank
PWC Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
PWC Sortino Ratio Rank: 6262
Sortino Ratio Rank
PWC Omega Ratio Rank: 5555
Omega Ratio Rank
PWC Calmar Ratio Rank: 6161
Calmar Ratio Rank
PWC Martin Ratio Rank: 5454
Martin Ratio Rank
EPU
EPU Risk / Return Rank: 8888
Overall Rank
EPU Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
EPU Sortino Ratio Rank: 8787
Sortino Ratio Rank
EPU Omega Ratio Rank: 8888
Omega Ratio Rank
EPU Calmar Ratio Rank: 9090
Calmar Ratio Rank
EPU Martin Ratio Rank: 8080
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PWC vs. EPU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Market ETF (PWC) and iShares MSCI Peru ETF (EPU). 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.

PWCEPUDifference
Sharpe ratioReturn per unit of total volatility
1.48
2.60

-1.12

Sortino ratioReturn per unit of downside risk
2.21
3.02

-0.81

Omega ratioGain probability vs. loss probability

1.26

1.40

-0.14

Calmar ratioReturn relative to maximum drawdown

2.28

3.99

-1.72

Martin ratioReturn relative to average drawdown

6.81

10.75

-3.95

PWC vs. EPU - Sharpe Ratio Comparison

The current PWC Sharpe Ratio is 1.48, which is lower than the EPU Sharpe Ratio of 2.60. The chart below compares the historical Sharpe Ratios of PWC and EPU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

PWC vs. EPU - Drawdown Comparison

The maximum PWC drawdown since its inception was -78.13%, which is greater than EPU's maximum drawdown of -60.62%. Use the drawdown chart below to compare losses from any high point for PWC and EPU.

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Drawdown Indicators

PWCEPUDifference

Max Drawdown

Largest peak-to-trough decline

-78.13%

-60.62%

-17.51%

Max Drawdown (1Y)

Largest decline over 1 year

-6.45%

-20.85%

+14.40%

Max Drawdown (3Y)

Largest decline over 3 years

-15.12%

-20.85%

+5.73%

Max Drawdown (5Y)

Largest decline over 5 years

-26.58%

-35.59%

+9.01%

Max Drawdown (10Y)

Largest decline over 10 years

-39.45%

-50.97%

+11.52%

Current Drawdown

Current decline from peak

-1.29%

-6.19%

+4.90%

Average Drawdown

Average peak-to-trough decline

-35.96%

-18.72%

-17.24%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.15%

7.73%

-5.58%

Volatility

PWC vs. EPU - Volatility Comparison

The current volatility for Invesco Dynamic Market ETF (PWC) is 3.26%, while iShares MSCI Peru ETF (EPU) has a volatility of 8.89%. This indicates that PWC experiences smaller price fluctuations and is considered to be less risky than EPU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PWCEPUDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.26%

8.89%

-5.63%

Volatility (6M)

Calculated over the trailing 6-month period

7.29%

26.65%

-19.36%

Volatility (1Y)

Calculated over the trailing 1-year period

9.97%

32.07%

-22.10%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.90%

25.10%

-9.20%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.74%

23.72%

-4.98%

PWC vs. EPU - Expense Ratio Comparison

PWC has a 0.60% expense ratio, which is higher than EPU's 0.59% expense ratio.

Dividends

PWC vs. EPU - Dividend Comparison

PWC's dividend yield for the trailing twelve months is around 1.71%, less than EPU's 1.97% yield.

PositionTTM20252024202320222021202020192018201720162015
EPU
iShares MSCI Peru ETF		1.97%1.63%5.78%4.17%5.56%3.13%1.91%2.67%1.53%3.30%0.85%1.90%
PWC
Invesco Dynamic Market ETF		1.71%1.77%1.58%1.67%1.51%0.56%1.09%0.95%1.44%1.75%1.35%1.02%

Frequently Asked Questions

PWC and EPU have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EPU has higher volatility (8.89%) compared to PWC (3.26%). In terms of maximum drawdown, PWC dropped -78.13% vs EPU's -60.62%.

On 10-year performance, EPU leads with 13.28% vs 9.55% for PWC. On fees, EPU is cheaper at 0.59% per year. On volatility, PWC has been the lower-risk option at 3.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EPU has performed better with a 13.28% return vs 9.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EPU is cheaper with a 0.59% expense ratio, compared with 0.60% for PWC.

EPU has the higher dividend yield at 1.97%, compared with 1.71% for PWC.

PWC is categorized as Mid Cap Blend Equities, while EPU is Latin America Equities. PWC tracks Dynamic Market Intellidex Index, while EPU tracks MSCI All Peru Capped Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.60% for PWC and 0.59% for EPU.

EPU currently has the higher Sharpe Ratio (2.60 vs 1.48), 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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