Invesco Dynamic Large Cap Value ETF (PWV) Performance
PWV total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +21.5% since Dec 31, 2025
- 1 year
- +25.1% total return
- 5 years
- +13.5% a year
- 10 years
- +12.5% a year
- Since first price
- +10.4% a year since 2005
PWV trailing returns vs SPY, QQQ, AGG
| Period | PWV total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +2.3% | +2.3% | −1.0% | −5.0% | +0.9% |
| 3 months | +0.8% | +0.4% | +3.2% | +1.9% | −0.4% |
| 6 months | +11.2% | +10.2% | +7.8% | +8.4% | −1.5% |
| YTD | +21.5% | +19.7% | +12.3% | +15.1% | −1.0% |
| 1 year | +25.1% | +22.8% | +14.4% | +15.9% | −1.1% |
| 3 years | +88.3%+23.5%/yr | +76.6% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +88.0%+13.5%/yr | +68.1% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +223.5%+12.5%/yr | +157.8% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +496.5%+12.6%/yr | +324.6% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| 20 years | +556.6%+9.9%/yr | +316.9% | +696.9%+10.9%/yr | +1,839.9%+16.0%/yr | +79.6%+3.0%/yr |
| Since inceptionMar 3, 2005 | +751.3%+10.4%/yr | +429.7% | — | — | — |
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: PWV vs SPY
From Mar 3, 2005: PWV grew to $85,128, SPY to $93,144.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
PWV returns by calendar year
15 of 20 full years positive. Best 2013 (+32.6%), worst 2008 (−27.2%). 2026 is year to date.
PWV annual returns table
| Year | PWV | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +21.5% | −7.9% | +12.3% | +15.1% | −1.0% |
| 2025 | +19.6% | −14.1% | +17.7% | +20.8% | +7.2% |
| 2024 | +14.5% | −8.7% | +24.9% | +25.6% | +1.3% |
| 2023 | +10.4% | −9.3% | +26.2% | +54.9% | +5.7% |
| 2022 | −1.2% | −16.4% | −18.2% | −32.6% | −13.0% |
| 2021 | +29.1% | −6.2% | +28.7% | +27.4% | −1.8% |
| 2020 | −3.8% | −37.7% | +18.3% | +48.6% | +7.5% |
| 2019 | +29.8% | −6.4% | +31.2% | +39.0% | +8.5% |
| 2018 | −14.1% | −22.3% | −4.6% | −0.1% | +0.1% |
| 2017 | +17.0% | −4.9% | +21.7% | +32.7% | +3.6% |
| 2016 | +18.9% | −7.8% | +12.0% | +7.1% | +2.4% |
| 2015 | −4.8% | −13.4% | +1.2% | +9.4% | +0.5% |
| 2014 | +12.3% | −8.7% | +13.5% | +19.2% | +6.0% |
| 2013 | +32.6% | −5.4% | +32.3% | +36.6% | −2.0% |
| 2012 | +16.2% | −7.9% | +16.0% | +18.1% | +3.8% |
| 2011 | +6.4% | −17.7% | +1.9% | +3.4% | +7.7% |
| 2010 | +13.3% | −14.3% | +15.1% | +19.9% | +6.4% |
| 2009 | +18.6% | −28.6% | +26.4% | +54.7% | +3.0% |
| 2008 | −27.2% | −41.9% | −36.8% | −41.7% | +7.9% |
| 2007 | +5.3% | −10.5% | +5.1% | +19.0% | +6.6% |
| 2006 | +24.2% | −6.5% | +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.
PWV largest drawdowns
Now 3.9% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Oct 9, 2007 | −49.0% | Mar 9, 2009 | Apr 6, 2011 | 1.4 years | 3.5 years |
| Feb 12, 2020 | −37.7% | Mar 23, 2020 | Feb 23, 2021 | 40 days | 1.0 years |
| Jan 26, 2018 | −22.3% | Dec 24, 2018 | Oct 25, 2019 | 11 months | 1.7 years |
| Jul 7, 2011 | −17.7% | Oct 3, 2011 | Feb 16, 2012 | 3 months | 7 months |
| Jan 11, 2022 | −16.4% | Sep 30, 2022 | Jul 31, 2023 | 9 months | 1.5 years |
| May 21, 2015 | −15.1% | Jan 20, 2016 | Jul 8, 2016 | 8 months | 1.1 years |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
PWV risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2005 |
|---|---|---|---|---|
| Annualized return | +20.2% | +13.9% | +11.8% | +10.3% |
| Volatility (annualized) | 12.8% | 14.8% | 15.4% | 14.4% |
| Sharpe ratio | 1.17 | 0.72 | 0.66 | — |
| Sortino ratio | 1.97 | 1.17 | 1.01 | — |
| Best month | +7.5% | +11.4% | +12.7% | +12.7% |
| Worst month | −7.4% | −8.6% | −15.4% | −15.4% |
| Best 12 months | +31.9% | +31.9% | +45.5% | +46.6% |
| Worst 12 months | +7.4% | −6.8% | −14.1% | −35.6% |
| Positive months | 64% | 57% | 58% | 62% |
| Beta vs S&P 500 | 0.65 | 0.72 | 0.84 | — |
| Correlation with S&P 500 | 0.63 | 0.77 | 0.84 | — |
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.
PWV rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 248 | −35.6% | +13.4% | +46.6% | 78% |
| 3-year (a year) | 224 | −9.7% | +9.8% | +23.8% | 86% |
| 5-year (a year) | 200 | +0.7% | +9.8% | +22.0% | 100% |
| 10-year (a year) | 140 | +7.4% | +9.7% | +14.4% | 100% |
Every holding period starting at a month-end since 2005. Returns for 3 years and longer are annualized.
PWV performance overview
Invesco Dynamic Large Cap Value ETF (PWV) returned +25.1% over the past year and +12.5% a year over ten years, with distributions reinvested. Since its first recorded price in 2005 it has returned +10.4% a year, turning $10,000 into about $85,128. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −49.0%, from Oct 9, 2007 to Mar 9, 2009, and it took 2.1 years to get back to the old high. PWV finished 15 of its 20 full calendar years with a gain; the best year was 2013 (+32.6%) and the worst 2008 (−27.2%). Volatility has been 14.4% a year.
Related: PWV chart, PWV holdings, PWV dividends, PWV valuation. See the PWV overview for the latest quote and fund facts.
PWV performance FAQ
What is the PWV return over the past year?
PWV returned +25.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 22.8%.
What is the average annual return of PWV?
PWV has returned +13.5% a year over 5 years, +12.5% a year over 10 years, +10.4% a year since March 3, 2005 (total return, distributions reinvested).
How much would $10,000 invested in PWV be worth?
$10,000 invested in PWV at its first recorded close on March 3, 2005 would be worth about $85,128 on October 23, 2026 with distributions reinvested.
What was the worst year for PWV?
The worst calendar year was 2008, with a total return of −27.2%. The best was 2013 at +32.6%.
What is the biggest drawdown of PWV?
The largest peak-to-trough decline was −49.0% between October 9, 2007 and March 9, 2009. It recovered to the old high on April 6, 2011, 2.1 years after the bottom.
How volatile is PWV?
Over the past 3 years PWV had an annualized volatility of 12.8% and a Sharpe ratio of 1.17 (excess return over 1–3 month T-bills per unit of risk).