PWB vs VYM
Invesco Large Cap Growth ETF vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM has a lower expense ratio. PWB delivered stronger 1-year returns. VYM offers more diversification with 558 holdings.
Side-by-Side Comparison
| Metric | PWB | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.55% | 0.04% | |
| AUM | $2.3B | $79.0B | |
| Dividend Yield | 0.00% | 2.86% | |
| Holdings | 53 | 568 | |
| YTD Return | +25.09% | +16.53% | |
| 1Y Return | +33.36% | +25.03% | |
| 3Y Return (annualized) | +31.71% | +18.54% | |
| 5Y Return (annualized) | +16.13% | +12.25% | |
| Volatility (annualized) | 16.7% | 14.6% | |
| Max Drawdown | -52.6% | -58.8% | |
| Fund Family | Invesco (US) | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Mar 3, 2005 | Nov 10, 2006 |
PWB vs VYM Performance
Invesco Large Cap Growth ETF (PWB) is a ETF from Invesco (US) and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year PWB returned +33.36% while VYM returned +25.03%. Year to date, PWB is up 25.09% versus a gain of 16.53% for VYM.
Over three years, PWB compounded at +31.71% per year against +18.54% for VYM; over five years the annualized figures are +16.13% and +12.25% respectively. Across the full 20-year window we track, PWB has the edge at +12.28% annualized vs +7.10%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PWB has been the more volatile fund, with annualized monthly volatility of 16.7% compared with 14.6% for VYM. 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 -58.8% for VYM. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PWB charges 0.55% per year while VYM charges 0.04%. On a $10,000 position that is $55 vs $4 annually, a gap of $51 per year that compounds over a long holding period. On income, PWB currently yields 0.00% against 2.86% for VYM.
Holdings Overlap
PWB and VYM share 11 holdings out of 598 unique holdings combined, representing a 8.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, PWB or VYM?
PWB has an expense ratio of 0.55% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $51 per year of difference.
Which performed better, PWB or VYM?
Over the past year PWB returned +33.36% vs +25.03% for VYM, so PWB leads on 1-year performance. Over the longest common window we track (20 years), PWB annualized +12.28% vs +7.10% for VYM. Past performance does not guarantee future results.
Which is riskier, PWB or VYM?
PWB has been the more volatile fund at 16.7% annualized versus 14.6% for VYM. Worst drawdown: PWB -52.6% vs VYM -58.8%.
Should I hold both PWB and VYM?
PWB and VYM have a monthly-return correlation of 0.77, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PWB and VYM?
PWB and VYM share 11 common holdings with a 8.2% weight overlap. Combined, they hold 598 unique securities.
Which pays a higher dividend, PWB or VYM?
PWB yields 0.00% while VYM yields 2.86%, so VYM currently pays the higher dividend yield.
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