VOOV vs. PWV
VOOV (Vanguard S&P 500 Value ETF) and PWV (Invesco Dynamic Large Cap Value ETF) are both Large Cap Value Equities funds - VOOV tracks the S&P 500 Value Index while PWV tracks the Dynamic Large Cap Value Intellidex Index (AMEX). Both are passively managed. Over the past 10 years, VOOV returned 11.82%/yr vs 11.81%/yr for PWV. Their correlation of 0.92 suggests significant overlap in exposure. VOOV charges 0.07%/yr vs 0.58%/yr for PWV.
Performance
VOOV vs. PWV - Performance Comparison
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Returns By Period
In the year-to-date period, VOOV achieves a 7.51% return, which is significantly lower than PWV's 12.10% return. Both investments have delivered pretty close results over the past 10 years, with VOOV having a 11.82% annualized return and PWV not far behind at 11.81%.
VOOV
- 1D
- -0.40%
- 1M
- 2.22%
- YTD
- 7.51%
- 6M
- 7.76%
- 1Y
- 21.33%
- 3Y*
- 15.68%
- 5Y*
- 10.64%
- 10Y*
- 11.82%
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%
VOOV vs. PWV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VOOV Vanguard S&P 500 Value ETF | 7.51% | 13.10% | 12.21% | 22.15% | -5.37% | 24.87% | 1.23% | 31.75% | -9.09% | 15.26% |
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 VOOV 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 | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Sep 10, 2010 | 0.92 |
The correlation between VOOV and PWV shifts across timeframes, from 0.82 (1 year) to 0.92 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
VOOV vs. PWV — Risk / Return Rank
VOOV
PWV
VOOV vs. PWV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P 500 Value ETF (VOOV) 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.
| VOOV | PWV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.56 | ||
| Sortino ratioReturn per unit of downside risk | -0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.48 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.42 | 6.28 | -2.86 |
| Martin ratioReturn relative to average drawdown | 13.04 | 21.16 | -8.12 |
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
| VOOV | PWV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.18 | 2.74 | -0.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.74 | 0.88 | -0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.70 | 0.69 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.75 | 0.41 | +0.34 |
Drawdowns
VOOV vs. PWV - Drawdown Comparison
The maximum VOOV drawdown since its inception was -37.31%, smaller than the maximum PWV drawdown of -49.04%. Use the drawdown chart below to compare losses from any high point for VOOV and PWV.
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Drawdown Indicators
| VOOV | PWV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.31% | -49.04% | +11.73% |
Max Drawdown (1Y)Largest decline over 1 year | -6.27% | -4.05% | -2.22% |
Max Drawdown (3Y)Largest decline over 3 years | -17.55% | -14.31% | -3.24% |
Max Drawdown (5Y)Largest decline over 5 years | -18.10% | -16.36% | -1.74% |
Max Drawdown (10Y)Largest decline over 10 years | -37.31% | -37.67% | +0.36% |
Current DrawdownCurrent decline from peak | -0.52% | -0.51% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -3.84% | -9.50% | +5.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.64% | 1.20% | +0.44% |
Volatility
VOOV vs. PWV - Volatility Comparison
The current volatility for Vanguard S&P 500 Value ETF (VOOV) is 2.01%, while Invesco Dynamic Large Cap Value ETF (PWV) has a volatility of 2.35%. This indicates that VOOV experiences smaller price fluctuations and is considered to be less risky 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
| VOOV | PWV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.01% | 2.35% | -0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 7.06% | 6.62% | +0.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.83% | 9.31% | +0.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.45% | 14.35% | +0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.95% | 17.16% | -0.21% |
VOOV vs. PWV - Expense Ratio Comparison
VOOV has a 0.07% expense ratio, which is lower than PWV's 0.58% expense ratio.
Dividends
VOOV vs. PWV - Dividend Comparison
VOOV's dividend yield for the trailing twelve months is around 1.68%, 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% |
VOOV Vanguard S&P 500 Value ETF | 1.68% | 1.76% | 2.10% | 1.69% | 2.19% | 1.87% | 2.45% | 2.10% | 2.65% | 2.13% | 2.24% | 2.36% |
Frequently Asked Questions
VOOV 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.
PWV has higher volatility (2.35%) compared to VOOV (2.01%). In terms of maximum drawdown, VOOV dropped -37.31% vs PWV's -49.04%.
On 10-year performance, VOOV leads with 11.82% vs 11.81% for PWV. On fees, VOOV is cheaper at 0.07% per year. On volatility, VOOV has been the lower-risk option at 2.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VOOV has performed better with a 11.82% return vs 11.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VOOV is cheaper with a 0.07% expense ratio, compared with 0.58% for PWV.
PWV has the higher dividend yield at 1.81%, compared with 1.68% for VOOV.
VOOV tracks S&P 500 Value Index, while PWV tracks Dynamic Large Cap Value Intellidex Index (AMEX). They also come from different issuers: Vanguard and Invesco. Their fees differ too: 0.07% for VOOV and 0.58% for PWV.
PWV currently has the higher Sharpe Ratio (2.74 vs 2.18), 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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