PWC vs. IQSM
Compare and contrast key facts about Invesco Dynamic Market ETF (PWC) and IQ Candriam U.S. Mid Cap Equity ETF (IQSM).
PWC and IQSM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PWC is a passively managed fund by Invesco that tracks the performance of the Dynamic Market Intellidex Index. It was launched on May 1, 2003. IQSM is a passively managed fund by IndexIQ that tracks the performance of the IQ Candriam ESG U.S. Mid Cap Equity Index - Benchmark TR Net. It was launched on Oct 24, 2022. Both PWC and IQSM are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
PWC vs. IQSM - Performance Comparison
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PWC vs. IQSM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
PWC Invesco Dynamic Market ETF | 2.60% | 6.15% | 17.46% | 19.03% | 0.91% |
IQSM IQ Candriam U.S. Mid Cap Equity ETF | 0.51% | 7.97% | 9.15% | 15.82% | 2.29% |
Returns By Period
In the year-to-date period, PWC achieves a 2.60% return, which is significantly higher than IQSM's 0.51% return.
PWC
- 1D
- 1.17%
- 1M
- -5.11%
- YTD
- 2.60%
- 6M
- 2.73%
- 1Y
- 6.46%
- 3Y*
- 12.67%
- 5Y*
- 6.65%
- 10Y*
- 9.15%
IQSM
- 1D
- 2.88%
- 1M
- -5.45%
- YTD
- 0.51%
- 6M
- 2.98%
- 1Y
- 14.99%
- 3Y*
- 9.92%
- 5Y*
- —
- 10Y*
- —
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PWC vs. IQSM - Expense Ratio Comparison
PWC has a 0.60% expense ratio, which is higher than IQSM's 0.15% expense ratio.
Return for Risk
PWC vs. IQSM — Risk / Return Rank
PWC
IQSM
PWC vs. IQSM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Market ETF (PWC) and IQ Candriam U.S. Mid Cap Equity ETF (IQSM). 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.
| PWC | IQSM | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.46 | 0.73 | -0.28 |
Sortino ratioReturn per unit of downside risk | 0.74 | 1.17 | -0.43 |
Omega ratioGain probability vs. loss probability | 1.10 | 1.16 | -0.06 |
Calmar ratioReturn relative to maximum drawdown | 0.70 | 1.07 | -0.37 |
Martin ratioReturn relative to average drawdown | 3.23 | 4.55 | -1.32 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PWC | IQSM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.46 | 0.73 | -0.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.41 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.49 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.11 | 0.58 | -0.47 |
Correlation
The correlation between PWC and IQSM is 0.84, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
PWC vs. IQSM - Dividend Comparison
PWC's dividend yield for the trailing twelve months is around 1.73%, more than IQSM's 1.18% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PWC Invesco Dynamic Market ETF | 1.73% | 1.77% | 1.58% | 1.67% | 1.51% | 0.56% | 1.09% | 0.95% | 1.44% | 1.75% | 1.35% | 1.02% |
IQSM IQ Candriam U.S. Mid Cap Equity ETF | 1.18% | 1.18% | 1.22% | 1.11% | 0.32% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
PWC vs. IQSM - Drawdown Comparison
The maximum PWC drawdown since its inception was -78.13%, which is greater than IQSM's maximum drawdown of -23.66%. Use the drawdown chart below to compare losses from any high point for PWC and IQSM.
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Drawdown Indicators
| PWC | IQSM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.13% | -23.66% | -54.47% |
Max Drawdown (1Y)Largest decline over 1 year | -11.26% | -13.94% | +2.68% |
Max Drawdown (5Y)Largest decline over 5 years | -26.58% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -39.45% | — | — |
Current DrawdownCurrent decline from peak | -5.36% | -6.24% | +0.88% |
Average DrawdownAverage peak-to-trough decline | -36.46% | -5.04% | -31.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.45% | 3.28% | -0.83% |
Volatility
PWC vs. IQSM - Volatility Comparison
The current volatility for Invesco Dynamic Market ETF (PWC) is 3.07%, while IQ Candriam U.S. Mid Cap Equity ETF (IQSM) has a volatility of 6.46%. This indicates that PWC experiences smaller price fluctuations and is considered to be less risky than IQSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PWC | IQSM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.07% | 6.46% | -3.39% |
Volatility (6M)Calculated over the trailing 6-month period | 7.37% | 11.32% | -3.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.30% | 20.49% | -6.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.29% | 18.05% | -1.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.84% | 18.05% | +0.79% |