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PWV vs. SCHV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PWV vs. SCHV

Last updated Jun 4, 2026

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 11.81%/yr vs 11.50%/yr for SCHV. Their correlation of 0.95 suggests significant overlap in exposure. PWV charges 0.58%/yr vs 0.04%/yr for SCHV.

Performance

PWV vs. SCHV - Performance Comparison

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

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Returns By Period

In the year-to-date period, PWV achieves a 12.10% return, which is significantly lower than SCHV's 15.39% return. Both investments have delivered pretty close results over the past 10 years, with PWV having a 11.81% annualized return and SCHV not far behind at 11.50%.

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%

SCHV

1D
0.09%
1M
5.65%
YTD
15.39%
6M
16.00%
1Y
28.49%
3Y*
18.86%
5Y*
10.40%
10Y*
11.50%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PWV vs. SCHV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PWV
Invesco Dynamic Large Cap Value ETF		12.10%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		15.39%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 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.82

Correlation (3Y)
Calculated over the trailing 3-year period

0.90

Correlation (5Y)
Calculated over the trailing 5-year period

0.92

Correlation (10Y)
Calculated over the trailing 10-year period

0.94

Correlation (All Time)
Calculated using the full available price history since Dec 14, 2009

0.95

The correlation between PWV and SCHV shifts across timeframes, from 0.82 (1 year) to 0.95 (all time), reflecting how their relationship changes across market environments.

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

Schwab U.S. Large-Cap Value ETF

Often compared with PWV:
PWV vs. VTVPWV vs. PBUSPWV vs. PVALPWV vs. CATPWV vs. MGVPWV vs. VTIPWV vs. VOO
Often compared with SCHV:
SCHV vs. VTVSCHV vs. SCHDSCHV vs. SCHXSCHV vs. AVLVSCHV vs. VOOSCHV vs. SCHASCHV vs. SPY

Return for Risk

PWV vs. SCHV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PWV
PWV Risk / Return Rank: 8686
Overall Rank
PWV Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
PWV Sortino Ratio Rank: 8686
Sortino Ratio Rank
PWV Omega Ratio Rank: 8080
Omega Ratio Rank
PWV Calmar Ratio Rank: 9292
Calmar Ratio Rank
PWV Martin Ratio Rank: 9090
Martin Ratio Rank
SCHV
SCHV Risk / Return Rank: 8181
Overall Rank
SCHV Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
SCHV Sortino Ratio Rank: 8484
Sortino Ratio Rank
SCHV Omega Ratio Rank: 7878
Omega Ratio Rank
SCHV Calmar Ratio Rank: 8080
Calmar Ratio Rank
SCHV Martin Ratio Rank: 8282
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. 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.

PWVSCHVDifference
Sharpe ratioReturn per unit of total volatility
2.74
2.69

+0.04

Sortino ratioReturn per unit of downside risk
3.93
3.84

+0.09

Omega ratioGain probability vs. loss probability

1.48

1.48

0.00

Calmar ratioReturn relative to maximum drawdown

6.28

4.19

+2.08

Martin ratioReturn relative to average drawdown

21.16

16.96

+4.21

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. SCHV - Sharpe Ratio Comparison

The current PWV Sharpe Ratio is 2.74, which is comparable to the SCHV Sharpe Ratio of 2.69. The chart below compares the historical Sharpe Ratios of PWV and SCHV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

PWVSCHVDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.74

2.69

+0.04

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.88

0.72

+0.15

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.69

0.68

+0.01

Sharpe Ratio (All Time)

Calculated using the full available price history

0.41

0.72

-0.31

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

PWVSCHVDifference

Max Drawdown

Largest 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 Drawdown

Current decline from peak

-0.51%

0.00%

-0.51%

Average Drawdown

Average peak-to-trough decline

-9.50%

-3.83%

-5.67%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.20%

1.69%

-0.49%

Volatility

PWV vs. SCHV - Volatility Comparison

The current volatility for Invesco Dynamic Large Cap Value ETF (PWV) is 2.35%, while Schwab U.S. Large-Cap Value ETF (SCHV) has a volatility of 3.09%. This indicates that PWV experiences smaller price fluctuations and is considered to be less risky 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

PWVSCHVDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.35%

3.09%

-0.74%

Volatility (6M)

Calculated over the trailing 6-month period

6.62%

8.13%

-1.51%

Volatility (1Y)

Calculated over the trailing 1-year period

9.31%

10.63%

-1.32%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.35%

14.51%

-0.16%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.16%

16.94%

+0.22%

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 1.81%, more than SCHV's 1.76% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
SCHV
Schwab U.S. Large-Cap Value ETF		1.76%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 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SCHV has higher volatility (3.09%) compared to PWV (2.35%). In terms of maximum drawdown, PWV dropped -49.04% vs SCHV's -37.08%.

On 10-year performance, PWV leads with 11.81% vs 11.50% for SCHV. On fees, SCHV is cheaper at 0.04% 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.

Over the 10-year period, PWV has performed better with a 11.81% return vs 11.50%. 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.

PWV has the higher dividend yield at 1.81%, compared with 1.76% for SCHV.

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 (2.74 vs 2.69), 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.

Portfolio Optimizer

Find the right allocation for PWV and SCHV

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