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PWV vs. VLUE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PWV vs. VLUE

Last updated Jun 4, 2026

PWV (Invesco Dynamic Large Cap Value ETF) and VLUE (iShares Edge MSCI USA Value Factor ETF) are both Large Cap Value Equities funds - PWV tracks the Dynamic Large Cap Value Intellidex Index (AMEX) while VLUE tracks the MSCI USA Value Weighted Index. Both are passively managed. Over the past 10 years, PWV returned 11.81%/yr vs 15.43%/yr for VLUE. Their correlation of 0.87 suggests significant overlap in exposure. PWV charges 0.58%/yr vs 0.15%/yr for VLUE.

Performance

PWV vs. VLUE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dynamic Large Cap Value ETF (PWV) and iShares Edge MSCI USA Value Factor ETF (VLUE). 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 VLUE's 49.00% return. Over the past 10 years, PWV has underperformed VLUE with an annualized return of 11.81%, while VLUE has yielded a comparatively higher 15.43% annualized return.

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%

VLUE

1D
-0.42%
1M
20.77%
YTD
49.00%
6M
51.40%
1Y
91.45%
3Y*
34.26%
5Y*
16.36%
10Y*
15.43%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PWV vs. VLUE - 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%
VLUE
iShares Edge MSCI USA Value Factor ETF		49.00%32.67%7.25%14.26%-14.17%28.93%-0.23%27.20%-11.13%21.95%

Correlation

The correlation between PWV and VLUE is 0.59, 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

0.59

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

0.80

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

0.86

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

0.89

Correlation (All Time)
Calculated using the full available price history since Apr 19, 2013

0.87

Over the past year, the correlation between PWV and VLUE has dropped to 0.59 - well below their long-term average of 0.87, suggesting their price drivers have been diverging.

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

iShares Edge MSCI USA Value Factor ETF

Often compared with PWV:
PWV vs. VTVPWV vs. PBUSPWV vs. PVALPWV vs. CATPWV vs. MGVPWV vs. VTIPWV vs. VOO
Often compared with VLUE:
VLUE vs. VLUVLUE vs. AVLVVLUE vs. VOOVLUE vs. IUSVVLUE vs. QVALVLUE vs. SCHVVLUE vs. SCHD

Return for Risk

PWV vs. VLUE — 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
VLUE
VLUE Risk / Return Rank: 9797
Overall Rank
VLUE Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
VLUE Sortino Ratio Rank: 9898
Sortino Ratio Rank
VLUE Omega Ratio Rank: 9797
Omega Ratio Rank
VLUE Calmar Ratio Rank: 9696
Calmar Ratio Rank
VLUE Martin Ratio Rank: 9797
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. VLUE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Large Cap Value ETF (PWV) and iShares Edge MSCI USA Value Factor ETF (VLUE). 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.

PWVVLUEDifference
Sharpe ratioReturn per unit of total volatility
2.74
5.32

-2.59

Sortino ratioReturn per unit of downside risk
3.93
6.86

-2.93

Omega ratioGain probability vs. loss probability

1.48

1.91

-0.42

Calmar ratioReturn relative to maximum drawdown

6.28

10.17

-3.90

Martin ratioReturn relative to average drawdown

21.16

45.62

-24.45

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. VLUE - Sharpe Ratio Comparison

The current PWV Sharpe Ratio is 2.74, which is lower than the VLUE Sharpe Ratio of 5.32. The chart below compares the historical Sharpe Ratios of PWV and VLUE, 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

PWVVLUEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.74

5.32

-2.59

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.88

0.92

-0.05

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.69

0.78

-0.09

Sharpe Ratio (All Time)

Calculated using the full available price history

0.41

0.76

-0.35

Drawdowns

PWV vs. VLUE - Drawdown Comparison

The maximum PWV drawdown since its inception was -49.04%, which is greater than VLUE's maximum drawdown of -39.47%. Use the drawdown chart below to compare losses from any high point for PWV and VLUE.

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Drawdown Indicators

PWVVLUEDifference

Max Drawdown

Largest peak-to-trough decline

-49.04%

-39.47%

-9.57%

Max Drawdown (1Y)

Largest decline over 1 year

-4.05%

-9.04%

+4.99%

Max Drawdown (3Y)

Largest decline over 3 years

-14.31%

-17.89%

+3.58%

Max Drawdown (5Y)

Largest decline over 5 years

-16.36%

-27.12%

+10.76%

Max Drawdown (10Y)

Largest decline over 10 years

-37.67%

-39.47%

+1.80%

Current Drawdown

Current decline from peak

-0.51%

-0.42%

-0.09%

Average Drawdown

Average peak-to-trough decline

-9.50%

-6.01%

-3.49%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.20%

2.01%

-0.81%

Volatility

PWV vs. VLUE - Volatility Comparison

The current volatility for Invesco Dynamic Large Cap Value ETF (PWV) is 2.35%, while iShares Edge MSCI USA Value Factor ETF (VLUE) has a volatility of 8.03%. This indicates that PWV experiences smaller price fluctuations and is considered to be less risky than VLUE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PWVVLUEDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.35%

8.03%

-5.68%

Volatility (6M)

Calculated over the trailing 6-month period

6.62%

13.96%

-7.34%

Volatility (1Y)

Calculated over the trailing 1-year period

9.31%

17.30%

-7.99%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.35%

17.78%

-3.43%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.16%

19.82%

-2.66%

PWV vs. VLUE - Expense Ratio Comparison

PWV has a 0.58% expense ratio, which is higher than VLUE's 0.15% expense ratio.

Dividends

PWV vs. VLUE - Dividend Comparison

PWV's dividend yield for the trailing twelve months is around 1.81%, more than VLUE's 1.40% 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%
VLUE
iShares Edge MSCI USA Value Factor ETF		1.40%2.11%2.73%2.66%3.18%2.22%2.42%2.61%2.70%2.14%2.07%2.39%

Frequently Asked Questions

PWV and VLUE have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VLUE has higher volatility (8.03%) compared to PWV (2.35%). In terms of maximum drawdown, PWV dropped -49.04% vs VLUE's -39.47%.

On 10-year performance, VLUE leads with 15.43% vs 11.81% for PWV. On fees, VLUE is cheaper at 0.15% 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, VLUE has performed better with a 15.43% return vs 11.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VLUE is cheaper with a 0.15% expense ratio, compared with 0.58% for PWV.

PWV has the higher dividend yield at 1.81%, compared with 1.40% for VLUE.

PWV tracks Dynamic Large Cap Value Intellidex Index (AMEX), while VLUE tracks MSCI USA Value Weighted Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.58% for PWV and 0.15% for VLUE.

VLUE currently has the higher Sharpe Ratio (5.32 vs 2.74), 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

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