PWB vs VOO
Invesco Large Cap Growth ETF vs Vanguard S&P 500 ETF
Which is better, PWB or VOO?
Large Cap Growth against Large Cap Blend.
VOO has a lower expense ratio. PWB led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.92. PWB is less concentrated, with 35.1% of the fund in its ten largest positions against 36.4%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | PWB | VOO |
|---|---|---|
| Expense Ratio | 0.55% | 0.03%Best |
| AUM | $2.4B | $997.4B |
| Dividend Yield | 0.00% | 1.04% |
| Holdings | 53 | 509 |
| YTD Return | +21.78%Best | +12.50% |
| 1Y Return | +27.54%Best | +17.58% |
| 3Y Return (annualized) | +30.19%Best | +21.27% |
| 5Y Return (annualized) | +15.26%Best | +12.95% |
| Volatility (annualized) | 16.0% | 14.1%Best |
| Max Drawdown | -32.4%Best | -34.3% |
| $10,000 over 5 years | $20,342Best | $18,384 |
| Top 10 Weight | 35.1%Best | 36.4% |
| Fund Family | Invesco (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Mar 3, 2005 | Sep 7, 2010 |
Volatility and max drawdown are measured over the window both funds cover: Sep 9, 2010 to Sep 11, 2026 (16 years).
PWB vs VOO growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 16 years both funds cover.
PWB vs VOO Performance
Invesco Large Cap Growth ETF (PWB) is an ETF from Invesco (US) and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year PWB returned +27.54% while VOO returned +17.58%. Year to date, PWB is up 21.78% versus a gain of 12.50% for VOO.
Over three years, PWB compounded at +30.19% per year against +21.27% for VOO; over five years the annualized figures are +15.26% and +12.95% respectively. Across the full 16-year window we track, PWB has the edge at +16.93% annualized vs +13.41%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PWB has been the more volatile fund, with annualized monthly volatility of 16.0% compared with 14.1% for VOO. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -32.4% for PWB and -34.3% for VOO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.92. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
PWB charges 0.55% per year while VOO charges 0.03%. On a $10,000 position that is $55 vs $3 annually, a gap of $52 per year that compounds over a long holding period. On income, PWB currently yields 0.00% against 1.04% for VOO.
Holdings Overlap
92.8% of PWB's money is in holdings VOO also owns. 39.7% of VOO's money is in holdings PWB also owns.
Most of PWB is already inside VOO. Owning both mostly buys the same companies twice.
46 positions in common, counted across the 51 positions we hold weights for in PWB and 505 in VOO, against full books of 53 and 509.
What only one of them owns
Our book lists 450 positions for VOO that do not appear in our book for PWB (59.7% of the fund), and 3 for PWB that do not appear in VOO (2.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in PWB | Weight in VOO | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 3.22% | 7.51% | 4.29% |
| AAPLApple, Inc | 3.28% | 6.59% | 3.31% |
| AMZNAmazon.Com Inc | 3.42% | 3.62% | 0.20% |
| GOOGLAlphabet A Usd 0.001 | 3.17% | 3.25% | 0.08% |
| AVGOBroadcom Inc | 3.24% | 2.77% | 0.47% |
| MUMicron Technology, Inc. | 3.26% | 2.02% | 1.24% |
| METAMeta Platforms, Inc. | 3.14% | 1.92% | 1.22% |
| AMATApplied Materials, Inc. | 3.93% | 0.89% | 3.04% |
| VVisa Inc | 3.70% | 0.87% | 2.83% |
| MAMastercard Inc | 3.79% | 0.64% | 3.15% |
92.8% of PWB is already inside VOO.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, PWB or VOO?
PWB has an expense ratio of 0.55% while VOO charges 0.03%. VOO is the cheaper option, by $52 a year on a $10,000 investment.
Which performed better, PWB or VOO?
Over the past year PWB returned +27.54% vs +17.58% for VOO, so PWB leads on 1-year performance. Over the longest common window we track (16 years), PWB annualized +16.93% vs +13.41% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PWB or VOO?
PWB has been the more volatile fund at 16.0% annualized versus 14.1% for VOO. Worst drawdown: PWB -32.4% vs VOO -34.3%.
Should I hold both PWB and VOO?
PWB and VOO have a monthly-return correlation of 0.92, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between PWB and VOO?
92.8% of PWB's money is in holdings VOO also owns. 39.7% of VOO's is in holdings PWB also owns. They hold 46 positions in common, counted across the 51 positions we hold weights for in PWB and 505 in VOO.
Which pays a higher dividend, PWB or VOO?
PWB yields 0.00% while VOO yields 1.04%, so VOO currently pays the higher dividend yield.
Is VOO better than PWB?
VOO has a lower expense ratio. PWB led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.92. PWB is less concentrated, with 35.1% of the fund in its ten largest positions against 36.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.