PWV vs QQQ
Invesco Large Cap Value ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. PWV delivered stronger 1-year returns. QQQ offers more diversification with 108 holdings.
Side-by-Side Comparison
| Metric | PWV | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.55% | 0.18% | |
| AUM | $1.8B | $496.3B | |
| Dividend Yield | 1.65% | 0.44% | |
| Holdings | 53 | 108 | |
| YTD Return | +24.29% | +16.64% | |
| 1Y Return | +31.86% | +27.27% | |
| 3Y Return (annualized) | +22.72% | +25.96% | |
| 5Y Return (annualized) | +15.06% | +14.54% | |
| Volatility (annualized) | 14.5% | 30.6% | |
| Max Drawdown | -50.7% | -83.0% | |
| Fund Family | Invesco (US) | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | Mar 3, 2005 | Mar 10, 1999 |
PWV vs QQQ Performance
Invesco Large Cap Value ETF (PWV) is a ETF from Invesco (US) and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year PWV returned +31.86% while QQQ returned +27.27%. Year to date, PWV is up 24.29% versus a gain of 16.64% for QQQ.
Over three years, PWV compounded at +22.72% per year against +25.96% for QQQ; over five years the annualized figures are +15.06% and +14.54% respectively. Across the full 22-year window we track, QQQ has the edge at +13.03% annualized vs +8.83%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 14.5% 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 -83.0% for QQQ. 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 0.71. 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 1.65% against 0.44% for QQQ.
Holdings Overlap
PWV and QQQ share 5 holdings out of 148 unique holdings combined, representing a 1.9% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $37 per year of difference.
Which performed better, PWV or QQQ?
Over the past year PWV returned +31.86% vs +27.27% for QQQ, so PWV leads on 1-year performance. Over the longest common window we track (22 years), PWV annualized +8.83% vs +13.03% for QQQ. Past performance does not guarantee future results.
Which is riskier, PWV or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 14.5% for PWV. Worst drawdown: PWV -50.7% vs QQQ -83.0%.
Should I hold both PWV and QQQ?
PWV and QQQ have a monthly-return correlation of 0.71, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PWV and QQQ?
PWV and QQQ share 5 common holdings with a 1.9% weight overlap. Combined, they hold 148 unique securities.
Which pays a higher dividend, PWV or QQQ?
PWV yields 1.65% while QQQ yields 0.44%, so PWV currently pays the higher dividend yield.
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