VV vs. PBUS

Last updated Jun 4, 2026

VV (Vanguard Large-Cap ETF) and PBUS (Invesco PureBeta MSCI USA ETF) are both Large Cap Growth Equities funds - VV tracks the CRSP US Large Cap Index while PBUS tracks the MSCI USA Index. Both are passively managed. Over the past 5 years, VV returned 13.54%/yr vs 13.48%/yr for PBUS. Their correlation of 0.89 suggests significant overlap in exposure. Both charge a 0.04% expense ratio.

Performance

VV vs. PBUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Large-Cap ETF (VV) and Invesco PureBeta MSCI USA ETF (PBUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with VV having a 10.69% return and PBUS slightly higher at 10.82%.

VV

• 1D: -0.72%
• 1M: 5.19%
• YTD: 10.69%
• 6M: 10.54%
• 1Y: 27.77%
• 3Y*: 22.68%
• 5Y*: 13.54%
• 10Y*: 15.58%

PBUS

• 1D: -0.64%
• 1M: 5.14%
• YTD: 10.82%
• 6M: 10.68%
• 1Y: 27.65%
• 3Y*: 22.61%
• 5Y*: 13.48%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

VV vs. PBUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VV Vanguard Large-Cap ETF	10.69%	18.11%	25.25%	27.18%	-19.91%	27.41%	21.04%	31.25%	-4.46%	7.49%
PBUS Invesco PureBeta MSCI USA ETF	10.82%	17.58%	24.99%	27.33%	-19.64%	26.77%	21.75%	31.60%	-4.77%	7.13%

Correlation

The correlation between VV and PBUS is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (All Time) Calculated using the full available price history since Sep 25, 2017	0.89

The correlation between VV and PBUS shifts across timeframes, from 0.89 (all time) to 1.00 (1 year), reflecting how their relationship changes across market environments.

VV vs. PBUS - Sectors Allocation Comparison

Sectors	VV	PBUS
Technology	35.9%	35.4%
Financial Services	11.8%	11.6%
Communication Services	11.2%	11.3%
Consumer Cyclical	9.8%	10.1%
Healthcare	8.6%	8.6%
Industrials	8.0%	8.6%
Consumer Defensive	4.8%	4.8%
Energy	3.6%	3.6%
Utilities	2.7%	2.3%
Real Estate	1.7%	1.9%
Basic Materials	1.6%	1.8%

Return for Risk

VV vs. PBUS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VV

VV Risk / Return Rank: 67
VV Sharpe Ratio Rank: 69
VV Sortino Ratio Rank: 68
VV Omega Ratio Rank: 68
VV Calmar Ratio Rank: 60
VV Martin Ratio Rank: 72

PBUS

PBUS Risk / Return Rank: 68
PBUS Sharpe Ratio Rank: 70
PBUS Sortino Ratio Rank: 68
PBUS Omega Ratio Rank: 69
PBUS Calmar Ratio Rank: 62
PBUS Martin Ratio Rank: 73

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VV vs. PBUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Large-Cap ETF (VV) and Invesco PureBeta MSCI USA ETF (PBUS). 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.

	VV	PBUS	Difference
Sharpe ratio Return per unit of total volatility	2.33	2.30	+0.02
Sortino ratio Return per unit of downside risk	3.18	3.15	+0.04
Omega ratio Gain probability vs. loss probability	1.42	1.41	0.00
Calmar ratio Return relative to maximum drawdown	3.03	3.08	-0.05
Martin ratio Return relative to average drawdown	13.86	13.93	-0.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VV vs. PBUS - Sharpe Ratio Comparison

The current VV Sharpe Ratio is 2.33, which is comparable to the PBUS Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of VV and PBUS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VV	PBUS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.33	2.30	+0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	0.80	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.86	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.80	-0.20

Drawdowns

VV vs. PBUS - Drawdown Comparison

The maximum VV drawdown since its inception was -54.81%, which is greater than PBUS's maximum drawdown of -33.15%. Use the drawdown chart below to compare losses from any high point for VV and PBUS.

Drawdown Indicators

	VV	PBUS	Difference
Max Drawdown Largest peak-to-trough decline	-54.81%	-33.15%	-21.66%
Max Drawdown (1Y) Largest decline over 1 year	-9.21%	-9.02%	-0.19%
Max Drawdown (3Y) Largest decline over 3 years	-18.97%	-19.07%	+0.10%
Max Drawdown (5Y) Largest decline over 5 years	-25.66%	-25.40%	-0.26%
Max Drawdown (10Y) Largest decline over 10 years	-34.28%	—	—
Current Drawdown Current decline from peak	-0.72%	-0.64%	-0.08%
Average Drawdown Average peak-to-trough decline	-6.84%	-5.13%	-1.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	1.99%	+0.02%

Volatility

VV vs. PBUS - Volatility Comparison

Vanguard Large-Cap ETF (VV) and Invesco PureBeta MSCI USA ETF (PBUS) have volatilities of 2.84% and 2.94%, 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.

Volatility by Period

	VV	PBUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.84%	2.94%	-0.10%
Volatility (6M) Calculated over the trailing 6-month period	8.98%	9.13%	-0.15%
Volatility (1Y) Calculated over the trailing 1-year period	11.99%	12.06%	-0.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.22%	17.05%	+0.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.19%	19.33%	-1.14%

VV vs. PBUS - Expense Ratio Comparison

Both VV and PBUS have an expense ratio of 0.04%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

VV vs. PBUS - Dividend Comparison

VV's dividend yield for the trailing twelve months is around 0.98%, which matches PBUS's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PBUS Invesco PureBeta MSCI USA ETF	0.98%	1.05%	1.20%	1.36%	1.71%	0.98%	1.35%	1.53%	2.33%	0.50%	0.00%	0.00%
VV Vanguard Large-Cap ETF	0.98%	1.08%	1.24%	1.41%	1.66%	1.19%	1.46%	1.81%	2.09%	1.75%	1.98%	1.96%

Frequently Asked Questions

Can I hold both VV and PBUS in my portfolio?

With a correlation of 1.00, VV and PBUS move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, VV or PBUS?

PBUS has higher volatility (2.94%) compared to VV (2.84%). In terms of maximum drawdown, VV dropped -54.81% vs PBUS's -33.15%.

Which ETF is better, VV or PBUS?

On 5-year performance, VV leads with 13.54% vs 13.48% for PBUS. Both ETFs have the same 0.04% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VV or PBUS?

Over the 5-year period, VV has performed better with a 13.54% return vs 13.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VV or PBUS?

VV and PBUS have the same expense ratio: 0.04% per year.

Which ETF pays a higher dividend yield, VV or PBUS?

VV and PBUS have nearly identical dividend yields, around 0.98%.

What is the main difference between VV and PBUS?

VV tracks CRSP US Large Cap Index, while PBUS tracks MSCI USA Index. They also come from different issuers: Vanguard and Invesco.

Which has better risk-adjusted returns?

VV currently has the higher Sharpe Ratio (2.33 vs 2.30), 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.