PWV vs. LSVD

Last updated Jun 4, 2026

PWV (Invesco Dynamic Large Cap Value ETF) and LSVD (LSV Disciplined Value ETF) are both Large Cap Value Equities funds. PWV is passively managed, while LSVD is actively managed. Over the past year, PWV returned 25.33% vs 43.26% for LSVD. A 0.63 correlation means they provide meaningful diversification when combined. PWV charges 0.58%/yr vs 0.40%/yr for LSVD.

Performance

PWV vs. LSVD - Performance Comparison

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

Returns By Period

In the year-to-date period, PWV achieves a 12.10% return, which is significantly lower than LSVD's 17.67% 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%

LSVD

• 1D: -0.43%
• 1M: 7.12%
• YTD: 17.67%
• 6M: 18.95%
• 1Y: 43.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PWV vs. LSVD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PWV Invesco Dynamic Large Cap Value ETF	12.10%	19.65%	1.17%
LSVD LSV Disciplined Value ETF	17.67%	22.29%	0.14%

Correlation

The correlation between PWV and LSVD is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.54
Correlation (All Time) Calculated using the full available price history since Dec 19, 2024	0.63

The correlation between PWV and LSVD has been stable across timeframes, ranging from 0.54 to 0.63 - a consistent structural relationship.

Return for Risk

PWV vs. LSVD — Risk / Return Rank

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

PWV

PWV Risk / Return Rank: 86
PWV Sharpe Ratio Rank: 83
PWV Sortino Ratio Rank: 86
PWV Omega Ratio Rank: 80
PWV Calmar Ratio Rank: 92
PWV Martin Ratio Rank: 90

LSVD

LSVD Risk / Return Rank: 92
LSVD Sharpe Ratio Rank: 93
LSVD Sortino Ratio Rank: 93
LSVD Omega Ratio Rank: 92
LSVD Calmar Ratio Rank: 89
LSVD Martin Ratio Rank: 93

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. LSVD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Large Cap Value ETF (PWV) and LSV Disciplined Value ETF (LSVD). 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	LSVD	Difference
Sharpe ratio: Return per unit of total volatility	2.74	3.41	-0.67
Sortino ratio: Return per unit of downside risk	3.93	4.64	-0.71
Omega ratio: Gain probability vs. loss probability	1.48	1.61	-0.12
Calmar ratio: Return relative to maximum drawdown	6.28	5.38	+0.89
Martin ratio: Return relative to average drawdown	21.16	24.69	-3.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PWV vs. LSVD - Sharpe Ratio Comparison

The current PWV Sharpe Ratio is 2.74, which is comparable to the LSVD Sharpe Ratio of 3.41. The chart below compares the historical Sharpe Ratios of PWV and LSVD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PWV	LSVD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.74	3.41	-0.67
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.88	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	1.66	-1.24

Drawdowns

PWV vs. LSVD - Drawdown Comparison

The maximum PWV drawdown since its inception was -49.04%, which is greater than LSVD's maximum drawdown of -19.30%. Use the drawdown chart below to compare losses from any high point for PWV and LSVD.

Drawdown Indicators

	PWV	LSVD	Difference
Max Drawdown Largest peak-to-trough decline	-49.04%	-19.30%	-29.74%
Max Drawdown (1Y) Largest decline over 1 year	-4.05%	-8.07%	+4.02%
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	-0.51%	-0.53%	+0.02%
Average Drawdown Average peak-to-trough decline	-9.50%	-2.47%	-7.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.20%	1.76%	-0.56%

Volatility

PWV vs. LSVD - Volatility Comparison

The current volatility for Invesco Dynamic Large Cap Value ETF (PWV) is 2.35%, while LSV Disciplined Value ETF (LSVD) has a volatility of 3.36%. This indicates that PWV experiences smaller price fluctuations and is considered to be less risky than LSVD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PWV	LSVD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.35%	3.36%	-1.01%
Volatility (6M) Calculated over the trailing 6-month period	6.62%	9.52%	-2.90%
Volatility (1Y) Calculated over the trailing 1-year period	9.31%	12.76%	-3.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.35%	17.45%	-3.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.16%	17.45%	-0.29%

PWV vs. LSVD - Expense Ratio Comparison

PWV has a 0.58% expense ratio, which is higher than LSVD's 0.40% expense ratio.

Dividends

PWV vs. LSVD - Dividend Comparison

PWV's dividend yield for the trailing twelve months is around 1.81%, more than LSVD's 0.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LSVD LSV Disciplined Value ETF	0.27%	0.32%	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	1.81%	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

Can I hold both PWV and LSVD in my portfolio?

PWV and LSVD have a correlation of 0.54, 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 LSVD?

LSVD has higher volatility (3.36%) compared to PWV (2.35%). In terms of maximum drawdown, PWV dropped -49.04% vs LSVD's -19.30%.

Which ETF is better, PWV or LSVD?

On 1-year performance, LSVD leads with 43.26% vs 25.33% for PWV. On fees, LSVD is cheaper at 0.40% per year. 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.

Which ETF has performed better, PWV or LSVD?

Over the 1-year period, LSVD has performed better with a 43.26% return vs 25.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PWV or LSVD?

LSVD is cheaper with a 0.40% expense ratio, compared with 0.58% for PWV.

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

PWV has the higher dividend yield at 1.81%, compared with 0.27% for LSVD.

What is the main difference between PWV and LSVD?

They also come from different issuers: Invesco and LSV. Their fees differ too: 0.58% for PWV and 0.40% for LSVD.

Which has better risk-adjusted returns?

LSVD currently has the higher Sharpe Ratio (3.41 vs 2.74), 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.