PWV vs QQQ
Invesco Large Cap Value ETF vs Invesco QQQ Trust, Series 1
Which is better, PWV or QQQ?
Large Cap Value against Large Cap Growth.
QQQ has a lower expense ratio. PWV led over 1Y, QQQ over 3Y, 5Y and the full window. PWV is less concentrated, with 34.7% of the fund in its ten largest positions against 46.5%.
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 | PWV | QQQ |
|---|---|---|
| Expense Ratio | 0.55% | 0.18%Best |
| AUM | $2.4B | $483.5B |
| Dividend Yield | 1.62% | 0.44% |
| Holdings | 53 | 107 |
| YTD Return | +20.27%Best | +17.95% |
| 1Y Return | +24.67%Best | +21.77% |
| 3Y Return (annualized) | +20.57% | +25.63%Best |
| 5Y Return (annualized) | +15.04% | +15.24%Best |
| Volatility (annualized) | 14.4%Best | 18.4% |
| Max Drawdown | -50.7%Best | -53.5% |
| $10,000 over 5 years | $20,149 | $20,324Best |
| Top 10 Weight | 34.7%Best | 46.5% |
| Fund Family | Invesco (US) | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Growth |
| Inception | Mar 3, 2005 | Mar 10, 1999 |
Volatility and max drawdown are measured over the window both funds cover: Mar 3, 2005 to Sep 18, 2026 (21.5 years).
PWV vs QQQ 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 21.5 years both funds cover.
PWV vs QQQ Performance
Invesco Large Cap Value ETF (PWV) is an ETF from Invesco (US) and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year PWV returned +24.67% while QQQ returned +21.77%. Year to date, PWV is up 20.27% versus a gain of 17.95% for QQQ.
Over three years, PWV compounded at +20.57% per year against +25.63% for QQQ; over five years the annualized figures are +15.04% and +15.24% respectively. Across the full 22-year window we track, QQQ has the edge at +14.91% annualized vs +8.63%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 18.4% compared with 14.4% for PWV. 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 -50.7% for PWV and -53.5% for QQQ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.71. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PWV charges 0.55% per year while QQQ charges 0.18%. On a $10,000 position that is $55 vs $18 annually, a gap of $37 per year that compounds over a long holding period. On income, PWV currently yields 1.62% against 0.44% for QQQ.
Holdings Overlap
8.3% of PWV's money is in holdings QQQ also owns. 1.9% of QQQ's money is in holdings PWV also owns.
PWV and QQQ share little of their money.
5 positions in common, counted across the 51 positions we hold weights for in PWV and 102 in QQQ, against full books of 53 and 107.
What only one of them owns
Measured across the 51 and 102 positions we hold weights for.
QQQ holds 91 positions PWV does not, 95.6% of the fund.
Largest: NVDA 8.44%, AAPL 7.27%, MSFT 5.76%, AMZN 4.67%, MU 4.43%
You are not choosing between two funds in isolation.
Whichever of PWV and QQQ 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, PWV or QQQ?
PWV has an expense ratio of 0.55% while QQQ charges 0.18%. QQQ is the cheaper option, by $37 a year on a $10,000 investment.
Which performed better, PWV or QQQ?
Over the past year PWV returned +24.67% vs +21.77% for QQQ, so PWV leads on 1-year performance. Over the longest common window we track (22 years), PWV annualized +8.63% vs +14.91% for QQQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PWV or QQQ?
QQQ has been the more volatile fund at 18.4% annualized versus 14.4% for PWV. Worst drawdown: PWV -50.7% vs QQQ -53.5%.
Should I hold both PWV and QQQ?
PWV and QQQ have a monthly-return correlation of 0.71, 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 PWV and QQQ?
8.3% of PWV's money is in holdings QQQ also owns. 1.9% of QQQ's is in holdings PWV also owns. They hold 5 positions in common, counted across the 51 positions we hold weights for in PWV and 102 in QQQ.
Which pays a higher dividend, PWV or QQQ?
PWV yields 1.62% while QQQ yields 0.44%, so PWV currently pays the higher dividend yield.
Is QQQ better than PWV?
QQQ has a lower expense ratio. PWV led over 1Y, QQQ over 3Y, 5Y and the full window. PWV is less concentrated, with 34.7% of the fund in its ten largest positions against 46.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.