PWV vs. KWIN

Last updated Jul 15, 2026

PWV (Invesco Dynamic Large Cap Value ETF) and KWIN (KraneShares Wahed Alternative Income Index ETF) are both Large Cap Value Equities funds - PWV tracks the Dynamic Large Cap Value Intellidex Index (AMEX) while KWIN tracks the Wahed Alternative Income Index. Both are passively managed. At a 0.22 correlation, their price movements are largely independent. PWV charges 0.58%/yr vs 0.51%/yr for KWIN.

Performance

PWV vs. KWIN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dynamic Large Cap Value ETF (PWV) and KraneShares Wahed Alternative Income Index ETF (KWIN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PWV achieves a 18.98% return, which is significantly higher than KWIN's 1.72% return.

PWV

• 1D: -0.33%
• 1M: 2.54%
• 6M: 17.81%
• YTD: 18.98%
• 1Y: 28.36%
• 3Y*: 21.34%
• 5Y*: 14.63%
• 10Y*: 11.97%

KWIN

• 1D: 0.13%
• 1M: 0.25%
• 6M: 1.37%
• YTD: 1.72%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PWV vs. KWIN - Yearly Performance Comparison

	2026 (YTD)	2025
PWV Invesco Dynamic Large Cap Value ETF	18.98%	3.67%
KWIN KraneShares Wahed Alternative Income Index ETF	1.72%	0.61%

Correlation

The correlation between PWV and KWIN is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 5, 2025	0.22

Return for Risk

PWV vs. KWIN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PWV

PWV Risk / Return Rank: 95
PWV Sharpe Ratio Rank: 95
PWV Sortino Ratio Rank: 95
PWV Omega Ratio Rank: 93
PWV Calmar Ratio Rank: 96
PWV Martin Ratio Rank: 95

KWIN

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PWV vs. KWIN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Large Cap Value ETF (PWV) and KraneShares Wahed Alternative Income Index ETF (KWIN). 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	KWIN	Difference
Sharpe ratio: Return per unit of total volatility	2.93	—	—
Sortino ratio: Return per unit of downside risk	4.23	—	—
Omega ratio: Gain probability vs. loss probability	1.52	—	—
Calmar ratio: Return relative to maximum drawdown	7.03	—	—
Martin ratio: Return relative to average drawdown	24.40	—	—

Drawdowns

PWV vs. KWIN - Drawdown Comparison

The maximum PWV drawdown since its inception was -49.04%, which is greater than KWIN's maximum drawdown of -1.50%. Use the drawdown chart below to compare losses from any high point for PWV and KWIN.

Drawdown Indicators

	PWV	KWIN	Difference
Max Drawdown Largest peak-to-trough decline	-49.04%	-1.50%	-47.54%
Max Drawdown (1Y) Largest decline over 1 year	-4.05%	—	—
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	-0.33%	-1.32%	+0.99%
Average Drawdown Average peak-to-trough decline	-9.45%	-0.26%	-9.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.17%	—	—

Volatility

Volatility by Period

	PWV	KWIN	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.83%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.23%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	9.72%	4.15%	+5.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.33%	4.15%	+10.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.13%	4.15%	+12.98%

PWV vs. KWIN - Expense Ratio Comparison

PWV has a 0.58% expense ratio, which is higher than KWIN's 0.51% expense ratio.

Dividends

PWV vs. KWIN - Dividend Comparison

PWV's dividend yield for the trailing twelve months is around 1.69%, while KWIN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KWIN KraneShares Wahed Alternative Income Index ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PWV Invesco Dynamic Large Cap Value ETF	1.69%	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 KWIN in my portfolio?

PWV and KWIN have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PWV or KWIN?

On fees, KWIN is cheaper at 0.51% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PWV or KWIN?

KWIN is cheaper with a 0.51% expense ratio, compared with 0.58% for PWV.

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

PWV has the higher dividend yield at 1.69%, compared with 0.00% for KWIN.

What is the main difference between PWV and KWIN?

PWV tracks Dynamic Large Cap Value Intellidex Index (AMEX), while KWIN tracks Wahed Alternative Income Index. They also come from different issuers: Invesco and KraneShares. Their fees differ too: 0.58% for PWV and 0.51% for KWIN.