PWV vs. CSTK

Last updated Aug 4, 2026

PWV (Invesco Large Cap Value ETF) and CSTK (Invesco Comstock Contrarian Equity ETF) are both Large Cap Value Equities funds from Invesco. PWV is passively managed, while CSTK is actively managed. Over the past year, PWV returned 33.04% vs 27.12% for CSTK. Their 0.79 correlation means they have sometimes moved together and sometimes differently. PWV charges 0.55%/yr vs 0.35%/yr for CSTK.

Performance

PWV vs. CSTK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Large Cap Value ETF (PWV) and Invesco Comstock Contrarian Equity ETF (CSTK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PWV achieves a 21.38% return, which is significantly higher than CSTK's 15.85% return.

PWV

• 1D: -0.16%
• 1M: 3.06%
• 6M: 17.74%
• YTD: 21.38%
• 1Y: 33.04%
• 3Y*: 20.95%
• 5Y*: 15.09%
• 10Y*: 12.21%
• ALL TIME*: 10.52%

CSTK

• 1D: 0.64%
• 1M: 1.65%
• 6M: 11.22%
• YTD: 15.85%
• 1Y: 27.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 28.81%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CSTK Invesco Comstock Contrarian Equity ETF	$126.36K	$157.28K	$227.65K
PWV Invesco Large Cap Value ETF	$10.73M	$7.77M	$4.99M

PWV vs. CSTK - Yearly Performance Comparison

	2026 (YTD)	2025
PWV Invesco Large Cap Value ETF	21.38%	17.33%
CSTK Invesco Comstock Contrarian Equity ETF	15.85%	18.16%

Correlation

The correlation between PWV and CSTK is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.78
Correlation (All Time) Calculated using the full available price history since May 7, 2025	0.79

The correlation between PWV and CSTK has been stable across timeframes, ranging from 0.78 to 0.79 - a consistent structural relationship.

Return for Risk

PWV vs. CSTK — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PWV

PWV Risk / Return Rank: 97
PWV Sharpe Ratio Rank: 97
PWV Sortino Ratio Rank: 97
PWV Omega Ratio Rank: 96
PWV Calmar Ratio Rank: 97
PWV Martin Ratio Rank: 97

CSTK

CSTK Risk / Return Rank: 87
CSTK Sharpe Ratio Rank: 91
CSTK Sortino Ratio Rank: 91
CSTK Omega Ratio Rank: 89
CSTK Calmar Ratio Rank: 79
CSTK Martin Ratio Rank: 83

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.

PWV vs. CSTK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Large Cap Value ETF (PWV) and Invesco Comstock Contrarian Equity ETF (CSTK). 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.

	PWV	CSTK	Difference
Sharpe ratio: Return per unit of total volatility	3.45	2.42	+1.04
Sortino ratio: Return per unit of downside risk	5.03	3.43	+1.60
Omega ratio: Gain probability vs. loss probability	1.63	1.43	+0.20
Calmar ratio: Return relative to maximum drawdown	8.19	3.07	+5.12
Martin ratio: Return relative to average drawdown	29.29	12.24	+17.05

PWV vs. CSTK - Sharpe Ratio Comparison

The current PWV Sharpe Ratio is 3.45, which is higher than the CSTK Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of PWV and CSTK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PWV vs. CSTK - Drawdown Comparison

The maximum PWV drawdown since its inception was -49.04%, which is greater than CSTK's maximum drawdown of -8.87%. Use the drawdown chart below to compare losses from any high point for PWV and CSTK.

Drawdown Indicators

	PWV	CSTK	Difference
Max Drawdown Largest peak-to-trough decline	-49.04%	-8.87%	-40.17%
Max Drawdown (1Y) Largest decline over 1 year	-4.05%	-8.87%	+4.82%
Max Drawdown (3Y) Largest decline over 3 years	-14.31%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-16.36%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-37.67%	—	—
Current Drawdown Current decline from peak	-1.06%	0.00%	-1.06%
Average Drawdown Average peak-to-trough decline	-9.43%	-1.17%	-8.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.13%	2.22%	-1.09%

Volatility

PWV vs. CSTK - Volatility Comparison

Invesco Large Cap Value ETF (PWV) and Invesco Comstock Contrarian Equity ETF (CSTK) have volatilities of 2.66% and 2.59%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PWV	CSTK	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.66%	2.59%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	7.25%	8.44%	-1.19%
Volatility (1Y) Calculated over the trailing 1-year period	9.63%	11.30%	-1.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.28%	11.39%	+2.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.14%	11.39%	+5.75%

PWV vs. CSTK - Expense Ratio Comparison

PWV has a 0.55% expense ratio, which is higher than CSTK's 0.35% expense ratio.

Dividends

PWV vs. CSTK - Dividend Comparison

PWV's dividend yield for the trailing twelve months is around 1.65%, less than CSTK's 2.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CSTK Invesco Comstock Contrarian Equity ETF	2.11%	1.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PWV Invesco Large Cap Value ETF	1.65%	2.12%	2.08%	2.16%	2.29%	1.89%	2.66%	2.24%	2.34%	1.55%	2.35%	2.42%

Frequently Asked Questions

Can I hold both PWV and CSTK in my portfolio?

PWV and CSTK have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PWV or CSTK?

PWV has higher volatility (2.66%) compared to CSTK (2.59%). In terms of maximum drawdown, PWV dropped -49.04% vs CSTK's -8.87%.

Which ETF is better, PWV or CSTK?

On 1-year performance, PWV leads with 33.04% vs 27.12% for CSTK. On fees, CSTK is cheaper at 0.35% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PWV or CSTK?

Over the 1-year period, PWV has performed better with a 33.04% return vs 27.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PWV or CSTK?

CSTK is cheaper with a 0.35% expense ratio, compared with 0.55% for PWV.

Which ETF pays a higher dividend yield, PWV or CSTK?

CSTK has the higher dividend yield at 2.11%, compared with 1.65% for PWV.

What is the main difference between PWV and CSTK?

Their fees differ too: 0.55% for PWV and 0.35% for CSTK.

Which has better risk-adjusted returns?

PWV currently has the higher Sharpe Ratio (3.45 vs 2.42), 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.