PWV vs SCHD
Invesco Large Cap Value ETF vs Schwab US Dividend Equity ETF
Which is better, PWV or SCHD?
Each has led over a different period.
SCHD has a lower expense ratio. PWV led over 3Y and 5Y, SCHD over 1Y and the full window. The two have moved almost in lockstep, correlation 0.93. PWV is less concentrated, with 34.0% of the fund in its ten largest positions against 41.8%.
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 | PWV | SCHD |
|---|---|---|
| Expense Ratio | 0.55% | 0.06%Best |
| AUM | $1.8B | $108.9B |
| Dividend Yield | 1.62% | 3.00% |
| Holdings | 108 | 206 |
| YTD Return | +16.09% | +20.67%Best |
| 1Y Return | +19.77% | +22.79%Best |
| 3Y Return (annualized) | +20.54%Best | +15.93% |
| 5Y Return (annualized) | +13.56%Best | +9.26% |
| Volatility (annualized) | 13.9% | 13.7%Best |
| Max Drawdown | -38.3% | -33.4%Best |
| $10,000 over 5 years | $18,885Best | $15,571 |
| Top 10 Weight | 34.0%Best | 41.8% |
| Fund Family | Invesco (US) | Charles Schwab Asset Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Mar 3, 2005 | Oct 20, 2011 |
Volatility and max drawdown are measured over the window both funds cover: Oct 20, 2011 to Oct 1, 2026 (14.9 years).
PWV vs SCHD 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 14.9 years both funds cover.
PWV vs SCHD Performance
Invesco Large Cap Value ETF (PWV) is an ETF from Invesco (US) and Schwab US Dividend Equity ETF (SCHD) is an ETF from Charles Schwab Asset Management. Over the past year PWV returned +19.77% while SCHD returned +22.79%. Year to date, PWV is up 16.09% versus a gain of 20.67% for SCHD.
Over three years, PWV compounded at +20.54% per year against +15.93% for SCHD; over five years the annualized figures are +13.56% and +9.26% respectively. Across the full 15-year window we track, SCHD has the edge at +11.05% annualized vs +10.88%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PWV has been the more volatile fund, with annualized monthly volatility of 13.9% compared with 13.7% for SCHD. 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 -38.3% for PWV and -33.4% for SCHD. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.93. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
PWV charges 0.55% per year while SCHD charges 0.06%. On a $10,000 position that is $55 vs $6 annually, a gap of $49 per year that compounds over a long holding period. On income, PWV currently yields 1.62% against 3.00% for SCHD.
Holdings Overlap
27.6% of PWV's money is in holdings SCHD also owns. 37.5% of SCHD's money is in holdings PWV also owns.
The two portfolios partly overlap.
13 positions in common, counted across the 51 positions we hold weights for in PWV and 99 in SCHD, against full books of 108 and 206.
What only one of them owns
Our book lists 85 positions for SCHD that do not appear in our book for PWV (62.4% of the fund), and 38 for PWV that do not appear in SCHD (72.4%).
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 PWV | Weight in SCHD | Difference |
|---|---|---|---|
| CVXChevron Corp | 3.56% | 4.29% | 0.73% |
| VZVerizon Communications Inc Vz | 3.35% | 4.12% | 0.77% |
| AMGNAmgen Inc. | 2.84% | 4.24% | 1.40% |
| UNHUnitedhealth Group Incorporated | 3.18% | 3.82% | 0.64% |
| PEPPepsico Inc. | 3.22% | 3.63% | 0.41% |
| COPConocophillips Common Stock USD 0.01 | 1.49% | 4.19% | 2.70% |
| BMYBristol-Myers Squibb Co. | 1.34% | 3.25% | 1.91% |
| EOGEog Resources Inc | 1.43% | 1.96% | 0.53% |
| UPSUnited Parcel Service, Inc | 1.36% | 1.87% | 0.51% |
| TGTTARGET CORP | 1.36% | 1.77% | 0.41% |
37.5% of SCHD is already inside PWV.
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, PWV or SCHD?
PWV has an expense ratio of 0.55% while SCHD charges 0.06%. SCHD is the cheaper option, by $49 a year on a $10,000 investment.
Which performed better, PWV or SCHD?
Over the past year PWV returned +19.77% vs +22.79% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), PWV annualized +10.88% vs +11.05% for SCHD. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PWV or SCHD?
PWV has been the more volatile fund at 13.9% annualized versus 13.7% for SCHD. Worst drawdown: PWV -38.3% vs SCHD -33.4%.
Should I hold both PWV and SCHD?
PWV and SCHD have a monthly-return correlation of 0.93, 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 PWV and SCHD?
37.5% of SCHD's money is in holdings PWV also owns. 37.5% of SCHD's is in holdings PWV also owns. They hold 13 positions in common, counted across the 51 positions we hold weights for in PWV and 99 in SCHD.
Which pays a higher dividend, PWV or SCHD?
PWV yields 1.62% while SCHD yields 3.00%, so SCHD currently pays the higher dividend yield.
Is SCHD better than PWV?
SCHD has a lower expense ratio. PWV led over 3Y and 5Y, SCHD over 1Y and the full window. The two have moved almost in lockstep, correlation 0.93. PWV is less concentrated, with 34.0% of the fund in its ten largest positions against 41.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.