TEQI vs. PWV
TEQI (T. Rowe Price Equity Income ETF) and PWV (Invesco Dynamic Large Cap Value ETF) are both Large Cap Value Equities funds. TEQI is actively managed, while PWV is passively managed. Over the past 5 years, TEQI returned 9.02%/yr vs 12.50%/yr for PWV. Their correlation of 0.93 suggests significant overlap in exposure. TEQI charges 0.54%/yr vs 0.58%/yr for PWV.
Performance
TEQI vs. PWV - Performance Comparison
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Returns By Period
In the year-to-date period, TEQI achieves a 9.71% return, which is significantly lower than PWV's 12.10% return.
TEQI
- 1D
- -0.22%
- 1M
- 2.51%
- YTD
- 9.71%
- 6M
- 11.55%
- 1Y
- 20.30%
- 3Y*
- 16.18%
- 5Y*
- 9.02%
- 10Y*
- —
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%
TEQI vs. PWV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
TEQI T. Rowe Price Equity Income ETF | 9.71% | 13.36% | 13.14% | 9.64% | -3.33% | 26.25% | 18.07% |
PWV Invesco Dynamic Large Cap Value ETF | 12.10% | 19.65% | 14.48% | 10.36% | -1.16% | 29.06% | 12.97% |
Correlation
The correlation between TEQI and PWV is 0.84, 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 | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Aug 6, 2020 | 0.93 |
The correlation between TEQI and PWV has been stable across timeframes, ranging from 0.84 to 0.93 - a consistent structural relationship.
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Return for Risk
TEQI vs. PWV — Risk / Return Rank
TEQI
PWV
TEQI vs. PWV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Equity Income ETF (TEQI) 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.
| TEQI | PWV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.80 | ||
| Sortino ratioReturn per unit of downside risk | -1.17 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.48 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.82 | 6.28 | -3.46 |
| Martin ratioReturn relative to average drawdown | 10.09 | 21.16 | -11.07 |
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
| TEQI | PWV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.94 | 2.74 | -0.80 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.62 | 0.88 | -0.26 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.69 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.98 | 0.41 | +0.56 |
Drawdowns
TEQI vs. PWV - Drawdown Comparison
The maximum TEQI drawdown since its inception was -17.82%, smaller than the maximum PWV drawdown of -49.04%. Use the drawdown chart below to compare losses from any high point for TEQI and PWV.
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Drawdown Indicators
| TEQI | PWV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.82% | -49.04% | +31.22% |
Max Drawdown (1Y)Largest decline over 1 year | -7.23% | -4.05% | -3.18% |
Max Drawdown (3Y)Largest decline over 3 years | -14.85% | -14.31% | -0.54% |
Max Drawdown (5Y)Largest decline over 5 years | -17.82% | -16.36% | -1.46% |
Max Drawdown (10Y)Largest decline over 10 years | — | -37.67% | — |
Current DrawdownCurrent decline from peak | -1.44% | -0.51% | -0.93% |
Average DrawdownAverage peak-to-trough decline | -3.53% | -9.50% | +5.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.02% | 1.20% | +0.82% |
Volatility
TEQI vs. PWV - Volatility Comparison
T. Rowe Price Equity Income ETF (TEQI) has a higher volatility of 2.68% compared to Invesco Dynamic Large Cap Value ETF (PWV) at 2.35%. This indicates that TEQI'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
| TEQI | PWV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.68% | 2.35% | +0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 7.61% | 6.62% | +0.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.52% | 9.31% | +1.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.61% | 14.35% | +0.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.12% | 17.16% | -2.04% |
TEQI vs. PWV - Expense Ratio Comparison
TEQI has a 0.54% expense ratio, which is lower than PWV's 0.58% expense ratio.
Dividends
TEQI vs. PWV - Dividend Comparison
TEQI's dividend yield for the trailing twelve months is around 1.55%, 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% |
TEQI T. Rowe Price Equity Income ETF | 1.55% | 1.71% | 1.86% | 2.12% | 2.32% | 3.03% | 0.82% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TEQI and PWV have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TEQI has higher volatility (2.68%) compared to PWV (2.35%). In terms of maximum drawdown, TEQI dropped -17.82% vs PWV's -49.04%.
On 5-year performance, PWV leads with 12.50% vs 9.02% for TEQI. On fees, TEQI is cheaper at 0.54% 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 5-year period, PWV has performed better with a 12.50% return vs 9.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TEQI is cheaper with a 0.54% expense ratio, compared with 0.58% for PWV.
PWV has the higher dividend yield at 1.81%, compared with 1.55% for TEQI.
They also come from different issuers: T. Rowe Price and Invesco. Their fees differ too: 0.54% for TEQI and 0.58% for PWV.
PWV currently has the higher Sharpe Ratio (2.74 vs 1.94), 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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