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PWV vs. PWB
Performance
Return for Risk
Dividends
Drawdowns
Volatility

PWV vs. PWB

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco Dynamic Large Cap Value ETF (PWV) and Invesco Dynamic Large Cap Growth ETF (PWB).

PWV and PWB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PWV is a passively managed fund by Invesco that tracks the performance of the Dynamic Large Cap Value Intellidex Index (AMEX). It was launched on Mar 3, 2005. PWB is a passively managed fund by Invesco that tracks the performance of the Dynamic Large Cap Growth Intellidex Index. It was launched on Mar 3, 2005. Both PWV and PWB are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

PWV vs. PWB - Performance Comparison

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

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PWV vs. PWB - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PWV
Invesco Dynamic Large Cap Value ETF		5.32%19.65%14.48%10.36%-1.16%29.06%-3.77%29.84%-14.12%16.98%
PWB
Invesco Dynamic Large Cap Growth ETF		-0.93%24.94%31.04%30.61%-25.81%19.58%31.89%24.68%0.88%30.71%

Returns By Period

In the year-to-date period, PWV achieves a 5.32% return, which is significantly higher than PWB's -0.93% return. Over the past 10 years, PWV has underperformed PWB with an annualized return of 11.27%, while PWB has yielded a comparatively higher 15.44% annualized return.

PWV

1D
1.63%
1M
-1.45%
YTD
5.32%
6M
7.88%
1Y
19.61%
3Y*
18.05%
5Y*
12.71%
10Y*
11.27%

PWB

1D
3.98%
1M
-7.08%
YTD
-0.93%
6M
0.41%
1Y
31.12%
3Y*
24.82%
5Y*
12.92%
10Y*
15.44%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco Dynamic Large Cap Value ETF

Invesco Dynamic Large Cap Growth ETF

Often compared with PWV:
PWV vs. VTVPWV vs. PBUSPWV vs. CATPWV vs. PVALPWV vs. MGVPWV vs. VTIPWV vs. VOO
Often compared with PWB:
PWB vs. SCHGPWB vs. QQQPWB vs. PRFPWB vs. PRFZPWB vs. SMHPWB vs. VGTPWB vs. VTI

PWV vs. PWB - Expense Ratio Comparison

PWV has a 0.58% expense ratio, which is higher than PWB's 0.56% expense ratio.

PWV
Invesco Dynamic Large Cap Value ETF
PWB
Invesco Dynamic Large Cap Growth ETF

Return for Risk

PWV vs. PWB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PWV
PWV Risk / Return Rank: 7474
Overall Rank
PWV Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
PWV Sortino Ratio Rank: 7171
Sortino Ratio Rank
PWV Omega Ratio Rank: 7777
Omega Ratio Rank
PWV Calmar Ratio Rank: 6868
Calmar Ratio Rank
PWV Martin Ratio Rank: 7979
Martin Ratio Rank
PWB
PWB Risk / Return Rank: 8080
Overall Rank
PWB Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
PWB Sortino Ratio Rank: 7777
Sortino Ratio Rank
PWB Omega Ratio Rank: 7474
Omega Ratio Rank
PWB Calmar Ratio Rank: 8686
Calmar Ratio Rank
PWB Martin Ratio Rank: 8787
Martin Ratio Rank
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. PWB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Large Cap Value ETF (PWV) and Invesco Dynamic Large Cap Growth ETF (PWB). 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.

PWVPWBDifference

Sharpe ratio

Return per unit of total volatility

1.30

1.35

-0.04

Sortino ratio

Return per unit of downside risk

1.75

1.92

-0.17

Omega ratio

Gain probability vs. loss probability

1.29

1.27

+0.02

Calmar ratio

Return relative to maximum drawdown

1.70

2.59

-0.89

Martin ratio

Return relative to average drawdown

8.37

10.04

-1.67

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. PWB - Sharpe Ratio Comparison

The current PWV Sharpe Ratio is 1.30, which is comparable to the PWB Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of PWV and PWB, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

PWVPWBDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.30

1.35

-0.04

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.89

0.62

+0.27

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.66

0.75

-0.09

Sharpe Ratio (All Time)

Calculated using the full available price history

0.40

0.55

-0.15

Correlation

The correlation between PWV and PWB is 0.73, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

PWV vs. PWB - Dividend Comparison

PWV's dividend yield for the trailing twelve months is around 1.93%, while PWB has not paid dividends to shareholders.

TTM20252024202320222021202020192018201720162015
PWV
Invesco Dynamic Large Cap Value ETF		1.93%2.12%2.08%2.16%2.29%1.89%2.66%2.24%2.34%1.55%2.35%2.42%
PWB
Invesco Dynamic Large Cap Growth ETF		0.00%0.00%0.08%0.37%0.31%0.04%0.21%0.58%0.97%0.54%0.82%0.67%

Drawdowns

PWV vs. PWB - Drawdown Comparison

The maximum PWV drawdown since its inception was -49.04%, smaller than the maximum PWB drawdown of -52.58%. Use the drawdown chart below to compare losses from any high point for PWV and PWB.

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Drawdown Indicators

PWVPWBDifference

Max Drawdown

Largest peak-to-trough decline

-49.04%

-52.58%

+3.54%

Max Drawdown (1Y)

Largest decline over 1 year

-12.48%

-12.11%

-0.37%

Max Drawdown (5Y)

Largest decline over 5 years

-16.36%

-31.41%

+15.05%

Max Drawdown (10Y)

Largest decline over 10 years

-37.67%

-32.36%

-5.31%

Current Drawdown

Current decline from peak

-1.71%

-8.61%

+6.90%

Average Drawdown

Average peak-to-trough decline

-9.57%

-8.29%

-1.28%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.54%

3.12%

-0.58%

Volatility

PWV vs. PWB - Volatility Comparison

The current volatility for Invesco Dynamic Large Cap Value ETF (PWV) is 3.40%, while Invesco Dynamic Large Cap Growth ETF (PWB) has a volatility of 7.98%. This indicates that PWV experiences smaller price fluctuations and is considered to be less risky than PWB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PWVPWBDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.40%

7.98%

-4.58%

Volatility (6M)

Calculated over the trailing 6-month period

6.97%

15.16%

-8.19%

Volatility (1Y)

Calculated over the trailing 1-year period

15.16%

23.23%

-8.07%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.39%

20.96%

-6.57%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.17%

20.58%

-3.41%