PWV vs VTI
Invesco Large Cap Value ETF vs Vanguard Morningstar Total Stock Market ETF
Quick Verdict
VTI has a lower expense ratio. PWV delivered stronger 1-year returns. VTI offers more diversification with 3,543 holdings.
Side-by-Side Comparison
| Metric | PWV | VTI | Winner |
|---|---|---|---|
| Expense Ratio | 0.55% | 0.03% | |
| AUM | $1.8B | $666.9B | |
| Dividend Yield | 1.65% | 1.07% | |
| Holdings | 53 | 3,543 | |
| YTD Return | +23.29% | +12.65% | |
| 1Y Return | +30.64% | +21.39% | |
| 3Y Return (annualized) | +22.10% | +21.54% | |
| 5Y Return (annualized) | +15.04% | +12.11% | |
| Volatility (annualized) | 14.5% | 15.3% | |
| Max Drawdown | -50.7% | -56.6% | |
| Fund Family | Invesco (US) | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Mar 3, 2005 | May 24, 2001 |
PWV vs VTI Performance
Invesco Large Cap Value ETF (PWV) is a ETF from Invesco (US) and Vanguard Morningstar Total Stock Market ETF (VTI) is a ETF from Vanguard (US). Over the past year PWV returned +30.64% while VTI returned +21.39%. Year to date, PWV is up 23.29% versus a gain of 12.65% for VTI.
Over three years, PWV compounded at +22.10% per year against +21.54% for VTI; over five years the annualized figures are +15.04% and +12.11% respectively. Across the full 22-year window we track, PWV has the edge at +8.79% annualized vs +8.07%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VTI has been the more volatile fund, with annualized monthly volatility of 15.3% 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 -56.6% for VTI. 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 0.90. 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 VTI charges 0.03%. On a $10,000 position that is $55 vs $3 annually, a gap of $52 per year that compounds over a long holding period. On income, PWV currently yields 1.65% against 1.07% for VTI.
Holdings Overlap
PWV and VTI share 49 holdings out of 2789 unique holdings combined, representing a 10.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, PWV or VTI?
PWV has an expense ratio of 0.55% while VTI charges 0.03%. VTI is the cheaper option. On a $10,000 investment, that is $52 per year of difference.
Which performed better, PWV or VTI?
Over the past year PWV returned +30.64% vs +21.39% for VTI, so PWV leads on 1-year performance. Over the longest common window we track (22 years), PWV annualized +8.79% vs +8.07% for VTI. Past performance does not guarantee future results.
Which is riskier, PWV or VTI?
VTI has been the more volatile fund at 15.3% annualized versus 14.5% for PWV. Worst drawdown: PWV -50.7% vs VTI -56.6%.
Should I hold both PWV and VTI?
PWV and VTI have a monthly-return correlation of 0.90, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between PWV and VTI?
PWV and VTI share 49 common holdings with a 10.6% weight overlap. Combined, they hold 2789 unique securities.
Which pays a higher dividend, PWV or VTI?
PWV yields 1.65% while VTI yields 1.07%, so PWV currently pays the higher dividend yield.
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