PWB vs VTI
Invesco Large Cap Growth ETF vs Vanguard Morningstar Total Stock Market ETF
Which is better, PWB or VTI?
Large Cap Growth against Large Cap Blend.
VTI 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. VTI is less concentrated, with 33.3% of the fund in its ten largest positions against 34.8%.
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 | VTI |
|---|---|---|
| Expense Ratio | 0.55% | 0.03%Best |
| AUM | $2.7B | $690.1B |
| Dividend Yield | 0.00% | 1.03% |
| Holdings | 107 | 3,524 |
| YTD Return | +29.24%Best | +14.14% |
| 1Y Return | +31.19%Best | +16.22% |
| 3Y Return (annualized) | +34.64%Best | +22.93% |
| 5Y Return (annualized) | +17.77%Best | +12.76% |
| Volatility (annualized) | 16.6% | 15.3%Best |
| Max Drawdown | -52.6%Best | -56.6% |
| $10,000 over 5 years | $22,655Best | $18,230 |
| Top 10 Weight | 34.8% | 33.3%Best |
| Fund Family | Invesco (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Mar 3, 2005 | May 24, 2001 |
Volatility and max drawdown are measured over the window both funds cover: Mar 3, 2005 to Oct 5, 2026 (21.6 years).
PWB vs VTI 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 21.6 years both funds cover.
PWB vs VTI Performance
Invesco Large Cap Growth ETF (PWB) is an ETF from Invesco (US) and Vanguard Morningstar Total Stock Market ETF (VTI) is an ETF from Vanguard (US). Over the past year PWB returned +31.19% while VTI returned +16.22%. Year to date, PWB is up 29.24% versus a gain of 14.14% for VTI.
Over three years, PWB compounded at +34.64% per year against +22.93% for VTI; over five years the annualized figures are +17.77% and +12.76% respectively. Across the full 22-year window we track, PWB has the edge at +12.37% annualized vs +9.41%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PWB has been the more volatile fund, with annualized monthly volatility of 16.6% compared with 15.3% for VTI. 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 -52.6% for PWB and -56.6% for VTI. 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 VTI 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 1.03% for VTI.
Holdings Overlap
98.5% of PWB's money is in holdings VTI also owns. 37.2% of VTI's money is in holdings PWB also owns.
Most of PWB is already inside VTI. Owning both mostly buys the same companies twice.
The two holdings books were reported 46 days apart, PWB as of Sep 15, 2026 and VTI as of Jul 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
49 positions in common, counted across the 51 positions we hold weights for in PWB and 3,463 in VTI, against full books of 107 and 3,524.
What only one of them owns
Our book lists 1,101 positions for VTI that do not appear in our book for PWB (60.3% of the fund), and 2 for PWB that do not appear in VTI (1.5%).
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 VTI | Difference |
|---|---|---|---|
| AAPLApple, Inc | 3.55% | 6.29% | 2.74% |
| NVDANvidia Corp | 3.40% | 6.40% | 3.00% |
| AMZNAmazon.Com Inc | 3.26% | 3.65% | 0.39% |
| GOOGLAlphabet Inc,class A | 3.23% | 2.90% | 0.33% |
| AVGOBroadcom Inc | 3.36% | 2.56% | 0.80% |
| METAMeta Platforms Inc | 3.76% | 1.70% | 2.06% |
| MUMicron Technology, Inc. | 3.46% | 1.29% | 2.17% |
| AMDAdvanced Micro Devices Inc | 3.56% | 1.08% | 2.48% |
| INTCIntel Corporation | 3.89% | 0.50% | 3.39% |
| LLYEli Lilly & Co. | 2.99% | 1.35% | 1.64% |
98.5% of PWB is already inside VTI.
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 VTI?
PWB has an expense ratio of 0.55% while VTI charges 0.03%. VTI is the cheaper option, by $52 a year on a $10,000 investment.
Which performed better, PWB or VTI?
Over the past year PWB returned +31.19% vs +16.22% for VTI, so PWB leads on 1-year performance. Over the longest common window we track (22 years), PWB annualized +12.37% vs +9.41% for VTI. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PWB or VTI?
PWB has been the more volatile fund at 16.6% annualized versus 15.3% for VTI. Worst drawdown: PWB -52.6% vs VTI -56.6%.
Should I hold both PWB and VTI?
PWB and VTI 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 VTI?
98.5% of PWB's money is in holdings VTI also owns. 37.2% of VTI's is in holdings PWB also owns. They hold 49 positions in common, counted across the 51 positions we hold weights for in PWB and 3,463 in VTI.
Which pays a higher dividend, PWB or VTI?
PWB yields 0.00% while VTI yields 1.03%, so VTI currently pays the higher dividend yield.
Is VTI better than PWB?
VTI 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. VTI is less concentrated, with 33.3% of the fund in its ten largest positions against 34.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.