RPV vs. PWV
RPV (Invesco S&P 500® Pure Value ETF) and PWV (Invesco Dynamic Large Cap Value ETF) are both Large Cap Value Equities funds from Invesco - RPV tracks the S&P 500/Citigroup Pure Value Index while PWV tracks the Dynamic Large Cap Value Intellidex Index (AMEX). Both are passively managed. Over the past 10 years, RPV returned 11.14%/yr vs 12.39%/yr for PWV. Their correlation of 0.86 suggests significant overlap in exposure. RPV charges 0.35%/yr vs 0.58%/yr for PWV.
Performance
RPV vs. PWV - Performance Comparison
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Returns By Period
In the year-to-date period, RPV achieves a 10.84% return, which is significantly lower than PWV's 15.98% return. Over the past 10 years, RPV has underperformed PWV with an annualized return of 11.14%, while PWV has yielded a comparatively higher 12.39% annualized return.
RPV
- 1D
- 0.43%
- 1M
- 0.99%
- YTD
- 10.84%
- 6M
- 10.96%
- 1Y
- 25.73%
- 3Y*
- 17.60%
- 5Y*
- 10.53%
- 10Y*
- 11.14%
PWV
- 1D
- 1.05%
- 1M
- 2.93%
- YTD
- 15.98%
- 6M
- 15.58%
- 1Y
- 27.69%
- 3Y*
- 21.59%
- 5Y*
- 14.11%
- 10Y*
- 12.39%
RPV vs. PWV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RPV Invesco S&P 500® Pure Value ETF | 10.84% | 17.70% | 12.41% | 7.98% | -1.27% | 34.22% | -8.69% | 24.80% | -12.31% | 17.30% |
PWV Invesco Dynamic Large Cap Value ETF | 15.98% | 19.65% | 14.48% | 10.36% | -1.16% | 29.06% | -3.77% | 29.84% | -14.12% | 16.98% |
Correlation
The correlation between RPV and PWV is 0.79, 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 | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2006 | 0.86 |
The correlation between RPV and PWV has been stable across timeframes, ranging from 0.79 to 0.89 - a consistent structural relationship.
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Return for Risk
RPV vs. PWV — Risk / Return Rank
RPV
PWV
RPV vs. PWV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500® Pure Value ETF (RPV) 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.
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.
| RPV | PWV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.90 | ||
| Sortino ratioReturn per unit of downside risk | -1.29 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.52 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 3.34 | 6.86 | -3.52 |
| Martin ratioReturn relative to average drawdown | 11.48 | 22.94 | -11.46 |
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Drawdowns
RPV vs. PWV - Drawdown Comparison
The maximum RPV drawdown since its inception was -75.32%, which is greater than PWV's maximum drawdown of -49.04%. Use the drawdown chart below to compare losses from any high point for RPV and PWV.
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Drawdown Indicators
| RPV | PWV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.32% | -49.04% | -26.28% |
Max Drawdown (1Y)Largest decline over 1 year | -7.74% | -4.05% | -3.69% |
Max Drawdown (3Y)Largest decline over 3 years | -15.50% | -14.31% | -1.19% |
Max Drawdown (5Y)Largest decline over 5 years | -22.64% | -16.36% | -6.28% |
Max Drawdown (10Y)Largest decline over 10 years | -50.67% | -37.67% | -13.00% |
Current DrawdownCurrent decline from peak | -2.85% | -0.05% | -2.80% |
Average DrawdownAverage peak-to-trough decline | -10.66% | -9.48% | -1.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.25% | 1.21% | +1.04% |
Volatility
RPV vs. PWV - Volatility Comparison
Invesco S&P 500® Pure Value ETF (RPV) and Invesco Dynamic Large Cap Value ETF (PWV) have volatilities of 3.56% and 3.42%, 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
| RPV | PWV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.56% | 3.42% | +0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 8.69% | 7.04% | +1.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.80% | 9.57% | +3.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.79% | 14.33% | +3.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.87% | 17.15% | +4.72% |
RPV vs. PWV - Expense Ratio Comparison
RPV has a 0.35% expense ratio, which is lower than PWV's 0.58% expense ratio.
Dividends
RPV vs. PWV - Dividend Comparison
RPV's dividend yield for the trailing twelve months is around 2.40%, more than PWV's 1.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PWV Invesco Dynamic Large Cap Value ETF | 1.73% | 2.12% | 2.08% | 2.16% | 2.29% | 1.89% | 2.66% | 2.24% | 2.34% | 1.55% | 2.35% | 2.42% |
RPV Invesco S&P 500® Pure Value ETF | 2.40% | 2.50% | 2.16% | 2.38% | 2.29% | 1.92% | 2.11% | 2.28% | 2.49% | 1.73% | 1.73% | 2.39% |
Frequently Asked Questions
RPV and PWV have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RPV has higher volatility (3.56%) compared to PWV (3.42%). In terms of maximum drawdown, RPV dropped -75.32% vs PWV's -49.04%.
On 10-year performance, PWV leads with 12.39% vs 11.14% for RPV. On fees, RPV is cheaper at 0.35% per year. On volatility, PWV has been the lower-risk option at 3.42%. 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 12.39% return vs 11.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RPV is cheaper with a 0.35% expense ratio, compared with 0.58% for PWV.
RPV has the higher dividend yield at 2.40%, compared with 1.73% for PWV.
RPV tracks S&P 500/Citigroup Pure Value Index, while PWV tracks Dynamic Large Cap Value Intellidex Index (AMEX). Their fees differ too: 0.35% for RPV and 0.58% for PWV.
PWV currently has the higher Sharpe Ratio (2.92 vs 2.02), 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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