PY vs. PWV
PY (Principal Value ETF) and PWV (Invesco Dynamic Large Cap Value ETF) are both Large Cap Value Equities funds. PY is actively managed, while PWV is passively managed. Over the past 10 years, PY returned 10.73%/yr vs 11.81%/yr for PWV. A 0.69 correlation means they provide meaningful diversification when combined. PY charges 0.15%/yr vs 0.58%/yr for PWV.
Performance
PY vs. PWV - Performance Comparison
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Returns By Period
In the year-to-date period, PY achieves a 4.14% return, which is significantly lower than PWV's 12.10% return. Over the past 10 years, PY has underperformed PWV with an annualized return of 10.73%, while PWV has yielded a comparatively higher 11.81% annualized return.
PY
- 1D
- -0.49%
- 1M
- 1.70%
- YTD
- 4.14%
- 6M
- 4.52%
- 1Y
- 14.24%
- 3Y*
- 13.22%
- 5Y*
- 7.32%
- 10Y*
- 10.73%
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%
PY vs. PWV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PY Principal Value ETF | 4.14% | 7.74% | 16.79% | 9.11% | -5.10% | 34.83% | 2.71% | 26.87% | -13.34% | 18.87% |
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% |
Correlation
The correlation between PY and PWV 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 | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Mar 23, 2016 | 0.69 |
The correlation between PY and PWV shifts across timeframes, from 0.69 (all time) to 0.89 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PY vs. PWV — Risk / Return Rank
PY
PWV
PY vs. PWV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Principal Value ETF (PY) and Invesco Dynamic Large Cap Value ETF (PWV). 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.
| PY | PWV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.38 | ||
| Sortino ratioReturn per unit of downside risk | -1.93 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.48 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 2.31 | 6.28 | -3.97 |
| Martin ratioReturn relative to average drawdown | 7.73 | 21.16 | -13.43 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PY | PWV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.36 | 2.74 | -1.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.47 | 0.88 | -0.41 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | 0.69 | -0.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.41 | +0.12 |
Drawdowns
PY vs. PWV - Drawdown Comparison
The maximum PY drawdown since its inception was -45.44%, smaller than the maximum PWV drawdown of -49.04%. Use the drawdown chart below to compare losses from any high point for PY and PWV.
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Drawdown Indicators
| PY | PWV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.44% | -49.04% | +3.60% |
Max Drawdown (1Y)Largest decline over 1 year | -6.20% | -4.05% | -2.15% |
Max Drawdown (3Y)Largest decline over 3 years | -17.84% | -14.31% | -3.53% |
Max Drawdown (5Y)Largest decline over 5 years | -17.84% | -16.36% | -1.48% |
Max Drawdown (10Y)Largest decline over 10 years | -45.44% | -37.67% | -7.77% |
Current DrawdownCurrent decline from peak | -1.00% | -0.51% | -0.49% |
Average DrawdownAverage peak-to-trough decline | -5.05% | -9.50% | +4.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.85% | 1.20% | +0.65% |
Volatility
PY vs. PWV - Volatility Comparison
Principal Value ETF (PY) and Invesco Dynamic Large Cap Value ETF (PWV) have volatilities of 2.28% and 2.35%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PY | PWV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.28% | 2.35% | -0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 7.28% | 6.62% | +0.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.53% | 9.31% | +1.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.77% | 14.35% | +1.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.07% | 17.16% | +2.91% |
PY vs. PWV - Expense Ratio Comparison
PY has a 0.15% expense ratio, which is lower than PWV's 0.58% expense ratio.
Dividends
PY vs. PWV - Dividend Comparison
PY's dividend yield for the trailing twelve months is around 2.13%, more than PWV's 1.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
PY Principal Value ETF | 2.13% | 2.14% | 2.22% | 2.68% | 3.02% | 2.83% | 2.95% | 2.25% | 2.34% | 1.68% | 1.85% | 0.00% |
Frequently Asked Questions
PY and PWV 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 PY (2.28%). In terms of maximum drawdown, PY dropped -45.44% vs PWV's -49.04%.
On 10-year performance, PWV leads with 11.81% vs 10.73% for PY. On fees, PY is cheaper at 0.15% per year. Their volatility is very similar. 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 10.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PY is cheaper with a 0.15% expense ratio, compared with 0.58% for PWV.
PY has the higher dividend yield at 2.13%, compared with 1.81% for PWV.
They also come from different issuers: Principal and Invesco. Their fees differ too: 0.15% for PY and 0.58% for PWV.
PWV currently has the higher Sharpe Ratio (2.74 vs 1.36), 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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