PWV vs. QQQM
PWV (Invesco Dynamic Large Cap Value ETF) and QQQM (Invesco NASDAQ 100 ETF) are both exchange-traded funds - PWV is a Large Cap Value Equities fund tracking the Dynamic Large Cap Value Intellidex Index (AMEX), while QQQM is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, PWV returned 14.11%/yr vs 16.11%/yr for QQQM. At a 0.49 correlation, their price movements are largely independent. PWV charges 0.58%/yr vs 0.15%/yr for QQQM.
Performance
PWV vs. QQQM - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with PWV having a 15.98% return and QQQM slightly higher at 16.48%.
PWV
- 1D
- 1.05%
- 1M
- 2.93%
- YTD
- 15.98%
- 6M
- 15.58%
- 1Y
- 27.69%
- 3Y*
- 21.59%
- 5Y*
- 14.11%
- 10Y*
- 12.39%
QQQM
- 1D
- -3.30%
- 1M
- -0.42%
- YTD
- 16.48%
- 6M
- 15.00%
- 1Y
- 34.99%
- 3Y*
- 26.15%
- 5Y*
- 16.11%
- 10Y*
- —
PWV vs. QQQM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
PWV Invesco Dynamic Large Cap Value ETF | 15.98% | 19.65% | 14.48% | 10.36% | -1.16% | 29.06% | 9.47% |
QQQM Invesco NASDAQ 100 ETF | 16.48% | 20.85% | 25.68% | 55.01% | -32.52% | 27.45% | 6.64% |
Correlation
The correlation between PWV and QQQM is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Oct 13, 2020 | 0.49 |
Over the past year, the correlation between PWV and QQQM has dropped to 0.23 - well below their long-term average of 0.49, suggesting their price drivers have been diverging.
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Return for Risk
PWV vs. QQQM — Risk / Return Rank
PWV
QQQM
PWV vs. QQQM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Large Cap Value ETF (PWV) and Invesco NASDAQ 100 ETF (QQQM). 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 | QQQM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.94 | ||
| Sortino ratioReturn per unit of downside risk | +1.63 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.35 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 6.86 | 2.94 | +3.92 |
| Martin ratioReturn relative to average drawdown | 22.94 | 10.88 | +12.06 |
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Drawdowns
PWV vs. QQQM - Drawdown Comparison
The maximum PWV drawdown since its inception was -49.04%, which is greater than QQQM's maximum drawdown of -35.04%. Use the drawdown chart below to compare losses from any high point for PWV and QQQM.
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Drawdown Indicators
| PWV | QQQM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.04% | -35.04% | -14.00% |
Max Drawdown (1Y)Largest decline over 1 year | -4.05% | -11.96% | +7.91% |
Max Drawdown (3Y)Largest decline over 3 years | -14.31% | -22.70% | +8.39% |
Max Drawdown (5Y)Largest decline over 5 years | -16.36% | -35.04% | +18.68% |
Max Drawdown (10Y)Largest decline over 10 years | -37.67% | — | — |
Current DrawdownCurrent decline from peak | -0.05% | -4.24% | +4.19% |
Average DrawdownAverage peak-to-trough decline | -9.48% | -8.20% | -1.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.21% | 3.22% | -2.01% |
Volatility
PWV vs. QQQM - Volatility Comparison
The current volatility for Invesco Dynamic Large Cap Value ETF (PWV) is 3.42%, while Invesco NASDAQ 100 ETF (QQQM) has a volatility of 9.00%. This indicates that PWV experiences smaller price fluctuations and is considered to be less risky than QQQM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PWV | QQQM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.42% | 9.00% | -5.58% |
Volatility (6M)Calculated over the trailing 6-month period | 7.04% | 14.43% | -7.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.57% | 17.85% | -8.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.33% | 22.53% | -8.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.15% | 22.30% | -5.15% |
PWV vs. QQQM - Expense Ratio Comparison
PWV has a 0.58% expense ratio, which is higher than QQQM's 0.15% expense ratio.
Dividends
PWV vs. QQQM - Dividend Comparison
PWV's dividend yield for the trailing twelve months is around 1.73%, more than QQQM's 0.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PWV Invesco Dynamic Large Cap Value ETF | 1.73% | 2.12% | 2.08% | 2.16% | 2.29% | 1.89% | 2.66% | 2.24% | 2.34% | 1.55% | 2.35% | 2.42% |
QQQM Invesco NASDAQ 100 ETF | 0.44% | 0.50% | 0.61% | 0.65% | 0.83% | 0.40% | 0.16% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PWV and QQQM have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QQQM has higher volatility (9.00%) compared to PWV (3.42%). In terms of maximum drawdown, PWV dropped -49.04% vs QQQM's -35.04%.
On 5-year performance, QQQM leads with 16.11% vs 14.11% for PWV. On fees, QQQM is cheaper at 0.15% per year. On volatility, PWV has been the lower-risk option at 3.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, QQQM has performed better with a 16.11% return vs 14.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QQQM is cheaper with a 0.15% expense ratio, compared with 0.58% for PWV.
PWV has the higher dividend yield at 1.73%, compared with 0.44% for QQQM.
PWV is categorized as Large Cap Value Equities, while QQQM is Nasdaq-100. PWV tracks Dynamic Large Cap Value Intellidex Index (AMEX), while QQQM tracks NASDAQ-100 Index. Their fees differ too: 0.58% for PWV and 0.15% for QQQM.
PWV currently has the higher Sharpe Ratio (2.92 vs 1.97), 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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