PWV vs. DEW
PWV (Invesco Dynamic Large Cap Value ETF) and DEW (WisdomTree Global High Dividend Fund) are both Large Cap Value Equities funds - PWV tracks the Dynamic Large Cap Value Intellidex Index (AMEX) while DEW tracks the WisdomTree Global High Dividend Index. Both are passively managed. Over the past 10 years, PWV returned 11.81%/yr vs 9.30%/yr for DEW. Their correlation of 0.80 suggests significant overlap in exposure. Both charge a 0.58% expense ratio.
Performance
PWV vs. DEW - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with PWV having a 12.10% return and DEW slightly lower at 11.59%. Over the past 10 years, PWV has outperformed DEW with an annualized return of 11.81%, while DEW has yielded a comparatively lower 9.30% annualized return.
PWV
- 1D
- -0.14%
- 1M
- 2.43%
- YTD
- 12.10%
- 6M
- 12.38%
- 1Y
- 25.33%
- 3Y*
- 20.79%
- 5Y*
- 12.50%
- 10Y*
- 11.81%
DEW
- 1D
- -0.19%
- 1M
- 0.84%
- YTD
- 11.59%
- 6M
- 12.75%
- 1Y
- 25.31%
- 3Y*
- 18.77%
- 5Y*
- 10.67%
- 10Y*
- 9.30%
PWV vs. DEW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PWV Invesco Dynamic Large Cap Value ETF | 12.10% | 19.65% | 14.48% | 10.36% | -1.16% | 29.06% | -3.77% | 29.84% | -14.12% | 16.98% |
DEW WisdomTree Global High Dividend Fund | 11.59% | 22.39% | 11.58% | 9.39% | -2.73% | 21.29% | -7.32% | 20.45% | -10.58% | 15.38% |
Correlation
The correlation between PWV and DEW is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Jun 19, 2006 | 0.80 |
The correlation between PWV and DEW has been stable across timeframes, ranging from 0.80 to 0.88 - a consistent structural relationship.
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Return for Risk
PWV vs. DEW — Risk / Return Rank
PWV
DEW
PWV vs. DEW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Large Cap Value ETF (PWV) and WisdomTree Global High Dividend Fund (DEW). 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.
| PWV | DEW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.47 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 6.28 | 4.01 | +2.27 |
| Martin ratioReturn relative to average drawdown | 21.16 | 15.80 | +5.36 |
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
| PWV | DEW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.74 | 2.64 | +0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.88 | 0.83 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.69 | 0.60 | +0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.28 | +0.13 |
Drawdowns
PWV vs. DEW - Drawdown Comparison
The maximum PWV drawdown since its inception was -49.04%, smaller than the maximum DEW drawdown of -65.55%. Use the drawdown chart below to compare losses from any high point for PWV and DEW.
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Drawdown Indicators
| PWV | DEW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.04% | -65.55% | +16.51% |
Max Drawdown (1Y)Largest decline over 1 year | -4.05% | -6.34% | +2.29% |
Max Drawdown (3Y)Largest decline over 3 years | -14.31% | -11.80% | -2.51% |
Max Drawdown (5Y)Largest decline over 5 years | -16.36% | -18.86% | +2.50% |
Max Drawdown (10Y)Largest decline over 10 years | -37.67% | -38.77% | +1.10% |
Current DrawdownCurrent decline from peak | -0.51% | -1.29% | +0.78% |
Average DrawdownAverage peak-to-trough decline | -9.50% | -12.44% | +2.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.20% | 1.61% | -0.41% |
Volatility
PWV vs. DEW - Volatility Comparison
The current volatility for Invesco Dynamic Large Cap Value ETF (PWV) is 2.35%, while WisdomTree Global High Dividend Fund (DEW) has a volatility of 2.79%. This indicates that PWV experiences smaller price fluctuations and is considered to be less risky than DEW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PWV | DEW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.35% | 2.79% | -0.44% |
Volatility (6M)Calculated over the trailing 6-month period | 6.62% | 7.16% | -0.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.31% | 9.61% | -0.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.35% | 12.99% | +1.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.16% | 15.53% | +1.63% |
PWV vs. DEW - Expense Ratio Comparison
Both PWV and DEW have an expense ratio of 0.58%.
Dividends
PWV vs. DEW - Dividend Comparison
PWV's dividend yield for the trailing twelve months is around 1.81%, less than DEW's 3.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DEW WisdomTree Global High Dividend Fund | 3.22% | 3.71% | 4.02% | 4.55% | 3.82% | 3.55% | 4.10% | 3.74% | 4.17% | 3.18% | 3.42% | 4.32% |
PWV Invesco Dynamic Large Cap Value ETF | 1.81% | 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
PWV and DEW have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DEW has higher volatility (2.79%) compared to PWV (2.35%). In terms of maximum drawdown, PWV dropped -49.04% vs DEW's -65.55%.
On 10-year performance, PWV leads with 11.81% vs 9.30% for DEW. Both ETFs have the same 0.58% expense ratio. On volatility, PWV has been the lower-risk option at 2.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PWV has performed better with a 11.81% return vs 9.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PWV and DEW have the same expense ratio: 0.58% per year.
DEW has the higher dividend yield at 3.22%, compared with 1.81% for PWV.
PWV tracks Dynamic Large Cap Value Intellidex Index (AMEX), while DEW tracks WisdomTree Global High Dividend Index. They also come from different issuers: Invesco and WisdomTree.
PWV currently has the higher Sharpe Ratio (2.74 vs 2.64), 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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