Invesco Dynamic Large Cap Growth ETF (PWB) Performance
PWB total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +16.8% since Dec 31, 2025
- 1 year
- +16.2% total return
- 5 years
- +13.9% a year
- 10 years
- +17.2% a year
- Since first price
- +11.7% a year since 2005
PWB trailing returns vs SPY, QQQ, AGG
| Period | PWB total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −8.3% | −8.3% | −1.0% | −5.0% | +0.9% |
| 3 months | −5.7% | −5.7% | +3.2% | +1.9% | −0.4% |
| 6 months | +2.9% | +2.9% | +7.8% | +8.4% | −1.5% |
| YTD | +16.8% | +16.8% | +12.3% | +15.1% | −1.0% |
| 1 year | +16.2% | +16.2% | +14.4% | +15.9% | −1.1% |
| 3 years | +122.3%+30.5%/yr | +121.8% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +92.0%+13.9%/yr | +90.5% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +390.3%+17.2%/yr | +373.0% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +902.2%+16.6%/yr | +832.4% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| 20 years | +910.2%+12.3%/yr | +813.5% | +696.9%+10.9%/yr | +1,839.9%+16.0%/yr | +79.6%+3.0%/yr |
| Since inceptionMar 3, 2005 | +1,004.2%+11.7%/yr | +898.3% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: PWB vs SPY
From Mar 3, 2005: PWB grew to $110,416, SPY to $93,144.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
PWB returns by calendar year
18 of 20 full years positive. Best 2013 (+37.4%), worst 2008 (−42.2%). 2026 is year to date.
PWB annual returns table
| Year | PWB | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +16.8% | −13.7% | +12.3% | +15.1% | −1.0% |
| 2025 | +24.9% | −22.1% | +17.7% | +20.8% | +7.2% |
| 2024 | +31.0% | −10.0% | +24.9% | +25.6% | +1.3% |
| 2023 | +30.6% | −9.4% | +26.2% | +54.9% | +5.7% |
| 2022 | −25.8% | −30.3% | −18.2% | −32.6% | −13.0% |
| 2021 | +19.6% | −13.5% | +28.7% | +27.4% | −1.8% |
| 2020 | +31.9% | −32.4% | +18.3% | +48.6% | +7.5% |
| 2019 | +24.7% | −7.0% | +31.2% | +39.0% | +8.5% |
| 2018 | +0.9% | −20.5% | −4.6% | −0.1% | +0.1% |
| 2017 | +30.7% | −2.5% | +21.7% | +32.7% | +3.6% |
| 2016 | +2.9% | −10.6% | +12.0% | +7.1% | +2.4% |
| 2015 | +7.7% | −11.4% | +1.2% | +9.4% | +0.5% |
| 2014 | +13.6% | −8.4% | +13.5% | +19.2% | +6.0% |
| 2013 | +37.4% | −6.5% | +32.3% | +36.6% | −2.0% |
| 2012 | +18.8% | −9.5% | +16.0% | +18.1% | +3.8% |
| 2011 | +0.1% | −21.5% | +1.9% | +3.4% | +7.7% |
| 2010 | +13.7% | −16.6% | +15.1% | +19.9% | +6.4% |
| 2009 | +34.6% | −18.9% | +26.4% | +54.7% | +3.0% |
| 2008 | −42.2% | −50.0% | −36.8% | −41.7% | +7.9% |
| 2007 | +12.3% | −9.2% | +5.1% | +19.0% | +6.6% |
| 2006 | +5.6% | −12.2% | +15.8% | +7.1% | +3.9% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
PWB largest drawdowns
Now 11.9% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Oct 12, 2007 | −52.6% | Mar 9, 2009 | Mar 26, 2012 | 1.4 years | 4.5 years |
| Feb 19, 2020 | −32.4% | Mar 23, 2020 | Jul 2, 2020 | 33 days | 4 months |
| Dec 27, 2021 | −31.4% | Oct 14, 2022 | Jan 24, 2024 | 10 months | 2.1 years |
| Feb 18, 2025 | −22.1% | Apr 4, 2025 | Jun 2, 2025 | 45 days | 3 months |
| Oct 1, 2018 | −20.5% | Dec 24, 2018 | Apr 5, 2019 | 3 months | 6 months |
| Jul 20, 2015 | −13.9% | Feb 8, 2016 | Jul 8, 2016 | 7 months | 12 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
PWB risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2005 |
|---|---|---|---|---|
| Annualized return | +33.8% | +17.2% | +18.2% | +12.4% |
| Volatility (annualized) | 19.3% | 20.9% | 18.0% | 16.7% |
| Sharpe ratio | 1.40 | 0.70 | 0.90 | — |
| Sortino ratio | 2.76 | 1.12 | 1.46 | — |
| Best month | +16.3% | +16.3% | +16.3% | +16.3% |
| Worst month | −9.1% | −11.8% | −11.8% | −18.9% |
| Best 12 months | +47.4% | +47.4% | +55.8% | +55.8% |
| Worst 12 months | +7.6% | −25.8% | −25.8% | −42.2% |
| Positive months | 72% | 68% | 72% | 66% |
| Beta vs S&P 500 | 1.33 | 1.21 | 1.07 | — |
| Correlation with S&P 500 | 0.86 | 0.91 | 0.91 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
PWB rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 248 | −42.2% | +15.8% | +55.8% | 85% |
| 3-year (a year) | 224 | −15.7% | +13.9% | +34.7% | 87% |
| 5-year (a year) | 200 | −2.7% | +13.8% | +23.5% | 96% |
| 10-year (a year) | 140 | +6.7% | +13.7% | +18.8% | 100% |
Every holding period starting at a month-end since 2005. Returns for 3 years and longer are annualized.
PWB performance overview
Invesco Dynamic Large Cap Growth ETF (PWB) returned +16.2% over the past year and +17.2% a year over ten years, with distributions reinvested. Since its first recorded price in 2005 it has returned +11.7% a year, turning $10,000 into about $110,416. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −52.6%, from Oct 12, 2007 to Mar 9, 2009, and it took 3.0 years to get back to the old high. PWB finished 18 of its 20 full calendar years with a gain; the best year was 2013 (+37.4%) and the worst 2008 (−42.2%). Volatility has been 16.7% a year.
Related: PWB chart, PWB holdings, PWB valuation. See the PWB overview for the latest quote and fund facts.
PWB performance FAQ
What is the PWB return over the past year?
PWB returned +16.2% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 16.2%.
What is the average annual return of PWB?
PWB has returned +13.9% a year over 5 years, +17.2% a year over 10 years, +11.7% a year since March 3, 2005 (total return, distributions reinvested).
How much would $10,000 invested in PWB be worth?
$10,000 invested in PWB at its first recorded close on March 3, 2005 would be worth about $110,416 on October 23, 2026 with distributions reinvested.
What was the worst year for PWB?
The worst calendar year was 2008, with a total return of −42.2%. The best was 2013 at +37.4%.
What is the biggest drawdown of PWB?
The largest peak-to-trough decline was −52.6% between October 12, 2007 and March 9, 2009. It recovered to the old high on March 26, 2012, 3.0 years after the bottom.
How volatile is PWB?
Over the past 3 years PWB had an annualized volatility of 19.3% and a Sharpe ratio of 1.40 (excess return over 1–3 month T-bills per unit of risk).