PWV vs. SCHV
PWV (Invesco Dynamic Large Cap Value ETF) and SCHV (Schwab U.S. Large-Cap Value ETF) are both Large Cap Value Equities funds - PWV tracks the Dynamic Large Cap Value Intellidex Index (AMEX) while SCHV tracks the Dow Jones U.S. Large-Cap Value Total Stock Market Index. Both are passively managed. Over the past 10 years, PWV returned 11.97%/yr vs 11.18%/yr for SCHV. Their correlation of 0.94 suggests significant overlap in exposure. PWV charges 0.58%/yr vs 0.04%/yr for SCHV.
Performance
PWV vs. SCHV - Performance Comparison
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Returns By Period
In the year-to-date period, PWV achieves a 18.98% return, which is significantly higher than SCHV's 16.57% return. Over the past 10 years, PWV has outperformed SCHV with an annualized return of 11.97%, while SCHV has yielded a comparatively lower 11.18% annualized 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%
SCHV
- 1D
- -0.06%
- 1M
- -0.33%
- 6M
- 12.57%
- YTD
- 16.57%
- 1Y
- 24.33%
- 3Y*
- 17.56%
- 5Y*
- 10.88%
- 10Y*
- 11.18%
PWV vs. SCHV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PWV Invesco Dynamic Large Cap Value ETF | 18.98% | 19.65% | 14.48% | 10.36% | -1.16% | 29.06% | -3.77% | 29.84% | -14.12% | 16.98% |
SCHV Schwab U.S. Large-Cap Value ETF | 16.57% | 16.02% | 14.13% | 8.93% | -7.65% | 25.58% | 2.64% | 25.92% | -7.30% | 16.56% |
Correlation
The correlation between PWV and SCHV is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Dec 11, 2009 | 0.94 |
Over the past year, the correlation between PWV and SCHV has dropped to 0.69 - well below their long-term average of 0.94, suggesting their price drivers have been diverging.
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Return for Risk
PWV vs. SCHV — Risk / Return Rank
PWV
SCHV
PWV vs. SCHV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Large Cap Value ETF (PWV) and Schwab U.S. Large-Cap Value ETF (SCHV). 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 | SCHV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.76 | ||
| Sortino ratioReturn per unit of downside risk | +1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.38 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 7.03 | 3.58 | +3.45 |
| Martin ratioReturn relative to average drawdown | 24.40 | 14.22 | +10.18 |
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Drawdowns
PWV vs. SCHV - Drawdown Comparison
The maximum PWV drawdown since its inception was -49.04%, which is greater than SCHV's maximum drawdown of -37.08%. Use the drawdown chart below to compare losses from any high point for PWV and SCHV.
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Drawdown Indicators
| PWV | SCHV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.04% | -37.08% | -11.96% |
Max Drawdown (1Y)Largest decline over 1 year | -4.05% | -6.83% | +2.78% |
Max Drawdown (3Y)Largest decline over 3 years | -14.31% | -15.26% | +0.95% |
Max Drawdown (5Y)Largest decline over 5 years | -16.36% | -19.78% | +3.42% |
Max Drawdown (10Y)Largest decline over 10 years | -37.67% | -37.08% | -0.59% |
Current DrawdownCurrent decline from peak | -0.33% | -1.84% | +1.51% |
Average DrawdownAverage peak-to-trough decline | -9.45% | -3.81% | -5.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 1.72% | -0.55% |
Volatility
PWV vs. SCHV - Volatility Comparison
Invesco Dynamic Large Cap Value ETF (PWV) has a higher volatility of 3.83% compared to Schwab U.S. Large-Cap Value ETF (SCHV) at 3.53%. This indicates that PWV's price experiences larger fluctuations and is considered to be riskier than SCHV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PWV | SCHV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.83% | 3.53% | +0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 7.23% | 8.80% | -1.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.72% | 11.23% | -1.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.33% | 14.55% | -0.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.13% | 16.92% | +0.21% |
PWV vs. SCHV - Expense Ratio Comparison
PWV has a 0.58% expense ratio, which is higher than SCHV's 0.04% expense ratio.
Dividends
PWV vs. SCHV - Dividend Comparison
PWV's dividend yield for the trailing twelve months is around 1.69%, less than SCHV's 1.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SCHV Schwab U.S. Large-Cap Value ETF | 1.79% | 2.02% | 2.25% | 2.42% | 2.37% | 1.93% | 3.03% | 3.02% | 3.05% | 2.37% | 2.65% | 2.69% |
Frequently Asked Questions
PWV and SCHV have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PWV has higher volatility (3.83%) compared to SCHV (3.53%). In terms of maximum drawdown, PWV dropped -49.04% vs SCHV's -37.08%.
On 10-year performance, PWV leads with 11.97% vs 11.18% for SCHV. On fees, SCHV is cheaper at 0.04% per year. On volatility, SCHV has been the lower-risk option at 3.53%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PWV has performed better with a 11.97% return vs 11.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHV is cheaper with a 0.04% expense ratio, compared with 0.58% for PWV.
SCHV has the higher dividend yield at 1.79%, compared with 1.69% for PWV.
PWV tracks Dynamic Large Cap Value Intellidex Index (AMEX), while SCHV tracks Dow Jones U.S. Large-Cap Value Total Stock Market Index. They also come from different issuers: Invesco and Charles Schwab. Their fees differ too: 0.58% for PWV and 0.04% for SCHV.
PWV currently has the higher Sharpe Ratio (2.93 vs 2.18), 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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