PWB vs VYM
Invesco Large Cap Growth ETF vs Vanguard High Dividend Yield ETF
Which is better, PWB or VYM?
Large Cap Growth against Large Cap Value.
VYM has a lower expense ratio. PWB led over 1Y, 3Y, 5Y and the full window. VYM is less concentrated, with 25.9% of the fund in its ten largest positions against 35.1%.
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 | VYM |
|---|---|---|
| Expense Ratio | 0.55% | 0.04%Best |
| AUM | $2.4B | $81.6B |
| Dividend Yield | 0.00% | 2.22% |
| Holdings | 53 | 613 |
| YTD Return | +20.01%Best | +13.15% |
| 1Y Return | +26.24%Best | +17.82% |
| 3Y Return (annualized) | +28.92%Best | +17.99% |
| 5Y Return (annualized) | +14.77%Best | +12.16% |
| Volatility (annualized) | 17.1% | 14.5%Best |
| Max Drawdown | -52.6%Best | -58.8% |
| $10,000 over 5 years | $19,913Best | $17,750 |
| Top 10 Weight | 35.1% | 25.9%Best |
| Fund Family | Invesco (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Value |
| Inception | Mar 3, 2005 | Nov 10, 2006 |
Volatility and max drawdown are measured over the window both funds cover: Nov 16, 2006 to Sep 10, 2026 (19.8 years).
PWB vs VYM 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 19.8 years both funds cover.
PWB vs VYM Performance
Invesco Large Cap Growth ETF (PWB) is an ETF from Invesco (US) and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year PWB returned +26.24% while VYM returned +17.82%. Year to date, PWB is up 20.01% versus a gain of 13.15% for VYM.
Over three years, PWB compounded at +28.92% per year against +17.99% for VYM; over five years the annualized figures are +14.77% and +12.16% respectively. Across the full 20-year window we track, PWB has the edge at +12.51% annualized vs +6.91%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PWB has been the more volatile fund, with annualized monthly volatility of 17.1% compared with 14.5% 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 what each fund did in the worst stretch of the window measured above.
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 2.22% for VYM.
Holdings Overlap
17.0% of PWB's money is in holdings VYM also owns. 12.8% of VYM's money is in holdings PWB also owns.
PWB and VYM share little of their money.
9 positions in common, counted across the 51 positions we hold weights for in PWB and 603 in VYM, against full books of 53 and 613.
What only one of them owns
Our book lists 559 positions for VYM that do not appear in our book for PWB (84.7% of the fund), and 40 for PWB that do not appear in VYM (78.6%).
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 VYM | Difference |
|---|---|---|---|
| AVGOBroadcom Inc | 3.24% | 7.29% | 4.05% |
| CATCaterpillar, Inc. | 3.16% | 2.01% | 1.15% |
| DELLDell Technologies Inc. | 2.15% | 0.54% | 1.61% |
| TXNTexas Instruments, Inc | 1.23% | 1.13% | 0.10% |
| ADIAnalog Devices, Inc. | 1.27% | 0.80% | 0.47% |
| JCIJohnson Controls Internation S | 1.54% | 0.37% | 1.17% |
| NUENucor Corp. | 1.60% | 0.20% | 1.40% |
| TELTE Connectivity PLC Common Stock | 1.46% | 0.24% | 1.22% |
| ROKRockwell Automation Inc. | 1.37% | 0.23% | 1.14% |
You are not choosing between two funds in isolation.
Whichever of PWB and VYM you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
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, by $51 a year on a $10,000 investment.
Which performed better, PWB or VYM?
Over the past year PWB returned +26.24% vs +17.82% for VYM, so PWB leads on 1-year performance. Over the longest common window we track (20 years), PWB annualized +12.51% vs +6.91% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PWB or VYM?
PWB has been the more volatile fund at 17.1% annualized versus 14.5% 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 their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between PWB and VYM?
17.0% of PWB's money is in holdings VYM also owns. 12.8% of VYM's is in holdings PWB also owns. They hold 9 positions in common, counted across the 51 positions we hold weights for in PWB and 603 in VYM.
Which pays a higher dividend, PWB or VYM?
PWB yields 0.00% while VYM yields 2.22%, so VYM currently pays the higher dividend yield.
Is VYM better than PWB?
VYM has a lower expense ratio. PWB led over 1Y, 3Y, 5Y and the full window. VYM is less concentrated, with 25.9% of the fund in its ten largest positions against 35.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.