VLU vs. PWV
VLU (SPDR S&P 1500 Value Tilt ETF) and PWV (Invesco Dynamic Large Cap Value ETF) are both Large Cap Value Equities funds - VLU tracks the S&P 1500 Low Valuation Tilt Index while PWV tracks the Dynamic Large Cap Value Intellidex Index (AMEX). Both are passively managed. Over the past 10 years, VLU returned 13.99%/yr vs 11.81%/yr for PWV. A 0.71 correlation means they provide meaningful diversification when combined. VLU charges 0.12%/yr vs 0.58%/yr for PWV.
Performance
VLU vs. PWV - Performance Comparison
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Returns By Period
In the year-to-date period, VLU achieves a 12.99% return, which is significantly higher than PWV's 12.10% return. Over the past 10 years, VLU has outperformed PWV with an annualized return of 13.99%, while PWV has yielded a comparatively lower 11.81% annualized return.
VLU
- 1D
- -0.49%
- 1M
- 3.04%
- YTD
- 12.99%
- 6M
- 13.61%
- 1Y
- 29.22%
- 3Y*
- 20.61%
- 5Y*
- 11.91%
- 10Y*
- 13.99%
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%
VLU vs. PWV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VLU SPDR S&P 1500 Value Tilt ETF | 12.99% | 16.70% | 17.24% | 17.18% | -8.24% | 30.95% | 9.91% | 26.20% | -7.89% | 18.16% |
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 VLU and PWV is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2012 | 0.71 |
The correlation between VLU and PWV shifts across timeframes, from 0.71 (all time) to 0.91 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
VLU vs. PWV — Risk / Return Rank
VLU
PWV
VLU vs. PWV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 1500 Value Tilt ETF (VLU) 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.
| VLU | PWV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.48 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 4.63 | 6.28 | -1.65 |
| Martin ratioReturn relative to average drawdown | 18.56 | 21.16 | -2.60 |
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
| VLU | PWV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.70 | 2.74 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.78 | 0.88 | -0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.78 | 0.69 | +0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.82 | 0.41 | +0.40 |
Drawdowns
VLU vs. PWV - Drawdown Comparison
The maximum VLU drawdown since its inception was -37.39%, smaller than the maximum PWV drawdown of -49.04%. Use the drawdown chart below to compare losses from any high point for VLU and PWV.
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Drawdown Indicators
| VLU | PWV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.39% | -49.04% | +11.65% |
Max Drawdown (1Y)Largest decline over 1 year | -6.34% | -4.05% | -2.29% |
Max Drawdown (3Y)Largest decline over 3 years | -16.22% | -14.31% | -1.91% |
Max Drawdown (5Y)Largest decline over 5 years | -19.55% | -16.36% | -3.19% |
Max Drawdown (10Y)Largest decline over 10 years | -37.39% | -37.67% | +0.28% |
Current DrawdownCurrent decline from peak | -0.49% | -0.51% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -3.74% | -9.50% | +5.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.58% | 1.20% | +0.38% |
Volatility
VLU vs. PWV - Volatility Comparison
SPDR S&P 1500 Value Tilt ETF (VLU) and Invesco Dynamic Large Cap Value ETF (PWV) have volatilities of 2.25% 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
| VLU | PWV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.25% | 2.35% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 7.70% | 6.62% | +1.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.90% | 9.31% | +1.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.40% | 14.35% | +1.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.09% | 17.16% | +0.93% |
VLU vs. PWV - Expense Ratio Comparison
VLU has a 0.12% expense ratio, which is lower than PWV's 0.58% expense ratio.
Dividends
VLU vs. PWV - Dividend Comparison
VLU's dividend yield for the trailing twelve months is around 1.62%, 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% |
VLU SPDR S&P 1500 Value Tilt ETF | 1.62% | 1.82% | 2.00% | 2.02% | 2.16% | 1.86% | 1.98% | 2.19% | 2.57% | 1.96% | 2.14% | 6.37% |
Frequently Asked Questions
VLU and PWV have a correlation of 0.80, 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 VLU (2.25%). In terms of maximum drawdown, VLU dropped -37.39% vs PWV's -49.04%.
On 10-year performance, VLU leads with 13.99% vs 11.81% for PWV. On fees, VLU is cheaper at 0.12% per year. On volatility, VLU has been the lower-risk option at 2.25%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VLU has performed better with a 13.99% return vs 11.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VLU is cheaper with a 0.12% expense ratio, compared with 0.58% for PWV.
PWV has the higher dividend yield at 1.81%, compared with 1.62% for VLU.
VLU tracks S&P 1500 Low Valuation Tilt Index, while PWV tracks Dynamic Large Cap Value Intellidex Index (AMEX). They also come from different issuers: State Street and Invesco. Their fees differ too: 0.12% for VLU and 0.58% for PWV.
PWV currently has the higher Sharpe Ratio (2.74 vs 2.70), 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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