SCHV vs. PWV
SCHV (Schwab U.S. Large-Cap Value ETF) and PWV (Invesco Dynamic Large Cap Value ETF) are both Large Cap Value Equities funds - SCHV tracks the Dow Jones U.S. Large-Cap Value Total Stock Market Index while PWV tracks the Dynamic Large Cap Value Intellidex Index (AMEX). Both are passively managed. Over the past 10 years, SCHV returned 11.50%/yr vs 11.81%/yr for PWV. Their correlation of 0.95 suggests significant overlap in exposure. SCHV charges 0.04%/yr vs 0.58%/yr for PWV.
Performance
SCHV vs. PWV - Performance Comparison
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Returns By Period
In the year-to-date period, SCHV achieves a 15.39% return, which is significantly higher than PWV's 12.10% return. Both investments have delivered pretty close results over the past 10 years, with SCHV having a 11.50% annualized return and PWV not far ahead at 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%
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 vs. PWV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
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 SCHV and PWV 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 SCHV and PWV shifts across timeframes, from 0.82 (1 year) to 0.95 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SCHV vs. PWV — Risk / Return Rank
SCHV
PWV
SCHV vs. PWV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Large-Cap Value ETF (SCHV) 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.
| SCHV | PWV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.48 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 4.19 | 6.28 | -2.08 |
| Martin ratioReturn relative to average drawdown | 16.96 | 21.16 | -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. | |||
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Sharpe Ratios by Period
| SCHV | PWV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.69 | 2.74 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.72 | 0.88 | -0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.68 | 0.69 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | 0.41 | +0.31 |
Drawdowns
SCHV vs. PWV - Drawdown Comparison
The maximum SCHV drawdown since its inception was -37.08%, smaller than the maximum PWV drawdown of -49.04%. Use the drawdown chart below to compare losses from any high point for SCHV and PWV.
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Drawdown Indicators
| SCHV | PWV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.08% | -49.04% | +11.96% |
Max Drawdown (1Y)Largest decline over 1 year | -6.83% | -4.05% | -2.78% |
Max Drawdown (3Y)Largest decline over 3 years | -15.26% | -14.31% | -0.95% |
Max Drawdown (5Y)Largest decline over 5 years | -19.78% | -16.36% | -3.42% |
Max Drawdown (10Y)Largest decline over 10 years | -37.08% | -37.67% | +0.59% |
Current DrawdownCurrent decline from peak | 0.00% | -0.51% | +0.51% |
Average DrawdownAverage peak-to-trough decline | -3.83% | -9.50% | +5.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.69% | 1.20% | +0.49% |
Volatility
SCHV vs. PWV - Volatility Comparison
Schwab U.S. Large-Cap Value ETF (SCHV) has a higher volatility of 3.09% compared to Invesco Dynamic Large Cap Value ETF (PWV) at 2.35%. This indicates that SCHV's price experiences larger fluctuations and is considered to be riskier than PWV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCHV | PWV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.09% | 2.35% | +0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 8.13% | 6.62% | +1.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.63% | 9.31% | +1.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.51% | 14.35% | +0.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.94% | 17.16% | -0.22% |
SCHV vs. PWV - Expense Ratio Comparison
SCHV has a 0.04% expense ratio, which is lower than PWV's 0.58% expense ratio.
Dividends
SCHV vs. PWV - Dividend Comparison
SCHV's dividend yield for the trailing twelve months is around 1.76%, less 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% |
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
SCHV and PWV 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, SCHV dropped -37.08% vs PWV's -49.04%.
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.
SCHV tracks Dow Jones U.S. Large-Cap Value Total Stock Market Index, while PWV tracks Dynamic Large Cap Value Intellidex Index (AMEX). They also come from different issuers: Charles Schwab and Invesco. Their fees differ too: 0.04% for SCHV and 0.58% for PWV.
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.
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