PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
PWV vs. SPYV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PWV vs. SPYV

Last updated Jun 4, 2026

PWV (Invesco Dynamic Large Cap Value ETF) and SPYV (SPDR Portfolio S&P 500 Value ETF) are both exchange-traded funds - PWV is a Large Cap Value Equities fund tracking the Dynamic Large Cap Value Intellidex Index (AMEX), while SPYV is a S&P 500 fund tracking the S&P 500 Value. Both are passively managed. Over the past 10 years, PWV returned 11.81%/yr vs 11.90%/yr for SPYV. Their correlation of 0.91 suggests significant overlap in exposure. PWV charges 0.58%/yr vs 0.04%/yr for SPYV.

Performance

PWV vs. SPYV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dynamic Large Cap Value ETF (PWV) and SPDR Portfolio S&P 500 Value ETF (SPYV). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, PWV achieves a 12.10% return, which is significantly higher than SPYV's 7.46% return. Both investments have delivered pretty close results over the past 10 years, with PWV having a 11.81% annualized return and SPYV not far ahead at 11.90%.

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%

SPYV

1D
-0.36%
1M
2.22%
YTD
7.46%
6M
7.77%
1Y
21.26%
3Y*
15.72%
5Y*
10.68%
10Y*
11.90%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PWV vs. SPYV - 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%
SPYV
SPDR Portfolio S&P 500 Value ETF		7.46%13.18%12.24%22.20%-5.28%24.91%1.38%31.70%-9.01%15.40%

Correlation

The correlation between PWV and SPYV is 0.81, 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

0.81

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

0.88

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 Mar 4, 2005

0.91

The correlation between PWV and SPYV shifts across timeframes, from 0.81 (1 year) to 0.92 (10 years), 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

SPDR Portfolio S&P 500 Value ETF

Often compared with PWV:
PWV vs. VTVPWV vs. PBUSPWV vs. PVALPWV vs. CATPWV vs. MGVPWV vs. VTIPWV vs. VOO
Often compared with SPYV:
SPYV vs. SPYGSPYV vs. VTVSPYV vs. SPYSPYV vs. SCHDSPYV vs. BRK-BSPYV vs. SPHQSPYV vs. SPYD

Return for Risk

PWV vs. SPYV — 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
SPYV
SPYV Risk / Return Rank: 6666
Overall Rank
SPYV Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
SPYV Sortino Ratio Rank: 6464
Sortino Ratio Rank
SPYV Omega Ratio Rank: 6363
Omega Ratio Rank
SPYV Calmar Ratio Rank: 6868
Calmar Ratio Rank
SPYV Martin Ratio Rank: 6969
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. SPYV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Large Cap Value ETF (PWV) and SPDR Portfolio S&P 500 Value ETF (SPYV). 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.

PWVSPYVDifference

Sharpe ratio

Return per unit of total volatility

2.74

2.17

+0.57

Sortino ratio

Return per unit of downside risk

3.93

3.05

+0.87

Omega ratio

Gain probability vs. loss probability

1.48

1.39

+0.09

Calmar ratio

Return relative to maximum drawdown

6.28

3.43

+2.84

Martin ratio

Return relative to average drawdown

21.16

13.16

+8.01

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. SPYV - Sharpe Ratio Comparison

The current PWV Sharpe Ratio is 2.74, which is comparable to the SPYV Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of PWV and SPYV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

PWVSPYVDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.74

2.17

+0.57

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.88

0.75

+0.13

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.69

0.70

-0.01

Sharpe Ratio (All Time)

Calculated using the full available price history

0.41

0.42

-0.01

Drawdowns

PWV vs. SPYV - Drawdown Comparison

The maximum PWV drawdown since its inception was -49.04%, smaller than the maximum SPYV drawdown of -58.45%. Use the drawdown chart below to compare losses from any high point for PWV and SPYV.

Loading charts...

Drawdown Indicators

PWVSPYVDifference

Max Drawdown

Largest peak-to-trough decline

-49.04%

-58.45%

+9.41%

Max Drawdown (1Y)

Largest decline over 1 year

-4.05%

-6.22%

+2.17%

Max Drawdown (3Y)

Largest decline over 3 years

-14.31%

-17.54%

+3.23%

Max Drawdown (5Y)

Largest decline over 5 years

-16.36%

-17.89%

+1.53%

Max Drawdown (10Y)

Largest decline over 10 years

-37.67%

-36.89%

-0.78%

Current Drawdown

Current decline from peak

-0.51%

-0.57%

+0.06%

Average Drawdown

Average peak-to-trough decline

-9.50%

-8.72%

-0.78%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.20%

1.62%

-0.42%

Volatility

PWV vs. SPYV - Volatility Comparison

Invesco Dynamic Large Cap Value ETF (PWV) has a higher volatility of 2.35% compared to SPDR Portfolio S&P 500 Value ETF (SPYV) at 1.98%. This indicates that PWV's price experiences larger fluctuations and is considered to be riskier than SPYV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

PWVSPYVDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.35%

1.98%

+0.37%

Volatility (6M)

Calculated over the trailing 6-month period

6.62%

7.04%

-0.42%

Volatility (1Y)

Calculated over the trailing 1-year period

9.31%

9.84%

-0.53%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.35%

14.40%

-0.05%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.16%

16.94%

+0.22%

PWV vs. SPYV - Expense Ratio Comparison

PWV has a 0.58% expense ratio, which is higher than SPYV's 0.04% expense ratio.

Dividends

PWV vs. SPYV - Dividend Comparison

PWV's dividend yield for the trailing twelve months is around 1.81%, more than SPYV's 1.70% 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%
SPYV
SPDR Portfolio S&P 500 Value ETF		1.70%1.77%2.29%1.75%2.22%2.10%2.38%2.25%2.97%2.77%2.39%2.53%

Frequently Asked Questions

PWV and SPYV have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

PWV has higher volatility (2.35%) compared to SPYV (1.98%). In terms of maximum drawdown, PWV dropped -49.04% vs SPYV's -58.45%.

On 10-year performance, SPYV leads with 11.90% vs 11.81% for PWV. On fees, SPYV is cheaper at 0.04% per year. On volatility, SPYV has been the lower-risk option at 1.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SPYV has performed better with a 11.90% return vs 11.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SPYV 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 1.70% for SPYV.

PWV is categorized as Large Cap Value Equities, while SPYV is S&P 500. PWV tracks Dynamic Large Cap Value Intellidex Index (AMEX), while SPYV tracks S&P 500 Value. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.58% for PWV and 0.04% for SPYV.

PWV currently has the higher Sharpe Ratio (2.74 vs 2.17), 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 SPYV

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer