PWV vs. PBUS
PWV (Invesco Dynamic Large Cap Value ETF) and PBUS (Invesco PureBeta MSCI USA ETF) are both exchange-traded funds - PWV is a Large Cap Value Equities fund tracking the Dynamic Large Cap Value Intellidex Index (AMEX), while PBUS is a Large Cap Growth Equities fund tracking the MSCI USA Index. Both are passively managed. Over the past 5 years, PWV returned 14.04%/yr vs 13.06%/yr for PBUS. A 0.67 correlation means they provide meaningful diversification when combined. PWV charges 0.58%/yr vs 0.04%/yr for PBUS.
Performance
PWV vs. PBUS - Performance Comparison
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Returns By Period
In the year-to-date period, PWV achieves a 14.78% return, which is significantly higher than PBUS's 9.64% return.
PWV
- 1D
- 1.24%
- 1M
- 1.86%
- YTD
- 14.78%
- 6M
- 14.57%
- 1Y
- 27.50%
- 3Y*
- 21.17%
- 5Y*
- 14.04%
- 10Y*
- 12.27%
PBUS
- 1D
- -0.22%
- 1M
- 0.14%
- YTD
- 9.64%
- 6M
- 9.10%
- 1Y
- 26.25%
- 3Y*
- 21.46%
- 5Y*
- 13.06%
- 10Y*
- —
PWV vs. PBUS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PWV Invesco Dynamic Large Cap Value ETF | 14.78% | 19.65% | 14.48% | 10.36% | -1.16% | 29.06% | -3.77% | 29.84% | -14.12% | 5.44% |
PBUS Invesco PureBeta MSCI USA ETF | 9.64% | 17.58% | 24.99% | 27.33% | -19.64% | 26.77% | 21.75% | 31.60% | -4.77% | 7.13% |
Correlation
The correlation between PWV and PBUS is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2017 | 0.67 |
Over the past year, the correlation between PWV and PBUS has dropped to 0.46 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.
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Return for Risk
PWV vs. PBUS — Risk / Return Rank
PWV
PBUS
PWV vs. PBUS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Large Cap Value ETF (PWV) and Invesco PureBeta MSCI USA ETF (PBUS). 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 | PBUS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.82 | ||
| Sortino ratioReturn per unit of downside risk | +1.37 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.37 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 6.81 | 2.92 | +3.89 |
| Martin ratioReturn relative to average drawdown | 22.78 | 12.81 | +9.97 |
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Drawdowns
PWV vs. PBUS - Drawdown Comparison
The maximum PWV drawdown since its inception was -49.04%, which is greater than PBUS's maximum drawdown of -33.15%. Use the drawdown chart below to compare losses from any high point for PWV and PBUS.
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Drawdown Indicators
| PWV | PBUS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.04% | -33.15% | -15.89% |
Max Drawdown (1Y)Largest decline over 1 year | -4.05% | -9.02% | +4.97% |
Max Drawdown (3Y)Largest decline over 3 years | -14.31% | -19.07% | +4.76% |
Max Drawdown (5Y)Largest decline over 5 years | -16.36% | -25.40% | +9.04% |
Max Drawdown (10Y)Largest decline over 10 years | -37.67% | — | — |
Current DrawdownCurrent decline from peak | -1.08% | -1.70% | +0.62% |
Average DrawdownAverage peak-to-trough decline | -9.48% | -5.11% | -4.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.21% | 2.05% | -0.84% |
Volatility
PWV vs. PBUS - Volatility Comparison
The current volatility for Invesco Dynamic Large Cap Value ETF (PWV) is 3.30%, while Invesco PureBeta MSCI USA ETF (PBUS) has a volatility of 4.79%. This indicates that PWV experiences smaller price fluctuations and is considered to be less risky than PBUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PWV | PBUS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.30% | 4.79% | -1.49% |
Volatility (6M)Calculated over the trailing 6-month period | 6.99% | 10.02% | -3.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.55% | 12.71% | -3.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.33% | 17.15% | -2.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.18% | 19.34% | -2.16% |
PWV vs. PBUS - Expense Ratio Comparison
PWV has a 0.58% expense ratio, which is higher than PBUS's 0.04% expense ratio.
Dividends
PWV vs. PBUS - Dividend Comparison
PWV's dividend yield for the trailing twelve months is around 2.33%, more than PBUS's 1.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBUS Invesco PureBeta MSCI USA ETF | 1.26% | 1.05% | 1.20% | 1.36% | 1.71% | 0.98% | 1.35% | 1.53% | 2.33% | 0.50% | 0.00% | 0.00% |
PWV Invesco Dynamic Large Cap Value ETF | 2.33% | 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 PBUS have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PBUS has higher volatility (4.79%) compared to PWV (3.30%). In terms of maximum drawdown, PWV dropped -49.04% vs PBUS's -33.15%.
On 5-year performance, PWV leads with 14.04% vs 13.06% for PBUS. On fees, PBUS is cheaper at 0.04% per year. On volatility, PWV has been the lower-risk option at 3.30%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PWV has performed better with a 14.04% return vs 13.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PBUS is cheaper with a 0.04% expense ratio, compared with 0.58% for PWV.
PWV has the higher dividend yield at 2.33%, compared with 1.26% for PBUS.
PWV is categorized as Large Cap Value Equities, while PBUS is Large Cap Growth Equities. PWV tracks Dynamic Large Cap Value Intellidex Index (AMEX), while PBUS tracks MSCI USA Index. Their fees differ too: 0.58% for PWV and 0.04% for PBUS.
PWV currently has the higher Sharpe Ratio (2.90 vs 2.08), 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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