Invesco Dynamic Large Cap Value ETF (PWV) Valuation
PWV valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 16.0 trailing earnings
- Forward P/E
- 11.8 analyst estimates
- Price / sales
- 1.24
- Price / book
- 2.17
- EV / EBITDA
- 9.6
- Earnings yield
- 6.23% inverse of P/E
- Dividend yield
- 2.59% of the holdings
- Return on equity
- 13.5% combined
- Net margin
- 7.7% combined
- Beta
- 0.72 weighted, vs S&P 500
PWV valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| PWV | 16.0 | 11.8 | 1.24 | 2.17 | 2.59% | 13.5% | 7.7% | 1.3% |
| SPY | 25.9 | 19.9 | 3.67 | 5.47 | 1.08% | 21.1% | 14.2% | 1.9% |
| QQQ | 34.2 | 23.4 | 5.93 | 9.27 | 0.58% | 27.1% | 17.4% | 6.9% |
| DIA | 20.9 | 18.4 | 3.16 | 5.52 | 1.55% | 26.4% | 15.1% | 0.0% |
| VTI | 28.2 | 19.4 | 3.31 | 5.00 | 1.07% | 17.7% | 11.8% | 4.6% |
| IWM | n/m | 13.9 | 1.25 | 2.03 | 1.38% | −1.7% | −1.0% | 28.1% |
Same method for every fund. n/m = not meaningful (combined trailing earnings below zero or close to it). Loss-makers = weight of holdings with negative trailing earnings.
PWV valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Financial Services | 30.6% | 11.8 | 10.9 | 2.40 | 1.72 | 2.32% | 14.6% |
| Energy | 24.1% | 19.1 | 13.1 | 1.98 | 2.30 | 2.32% | 12.0% |
| Healthcare | 16.0% | 20.7 | 13.2 | 0.57 | 3.24 | 2.12% | 15.7% |
| Communication Services | 11.9% | 13.0 | 10.9 | 1.56 | 1.88 | 3.70% | 14.5% |
| Industrials | 5.4% | 19.4 | 12.8 | 1.11 | 3.74 | 2.85% | 19.3% |
| Consumer Defensive | 4.5% | 16.4 | 15.1 | 1.19 | 6.34 | 4.06% | 38.7% |
| Consumer Cyclical | 2.6% | n/m | 6.2 | 0.32 | 1.30 | 2.76% | −7.4% |
| Utilities | 1.6% | 22.0 | 17.2 | 3.04 | 2.01 | 2.99% | 9.1% |
PWV earnings yield vs bond yields
Earnings yield = earnings ÷ price (1 ÷ P/E). The gap to bond yields is a rough gauge of the extra return stocks are priced to deliver.
How PWV weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
PWV largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| CVX | Chevron Corporation | 4.08% | 21.2 | 15.2 | 2.1 | 3.16% | 3.19% |
| XOM | Exxon Mobil Corporation | 4.02% | 23.0 | 14.8 | 2.0 | 2.30% | 2.90% |
| UNH | UnitedHealth Group Incorporated | 3.74% | 25.8 | 16.6 | 0.8 | 2.31% | 2.40% |
| DIS | The Walt Disney Company | 3.57% | 22.8 | 13.8 | 1.9 | 1.36% | 2.60% |
| AMGN | Amgen Inc. | 3.34% | 26.9 | 16.7 | 6.1 | 2.33% | 2.06% |
| WFC | Wells Fargo & Company | 3.30% | 11.8 | 10.2 | 3.0 | 2.38% | 4.63% |
| PEP | PepsiCo, Inc. | 3.17% | 16.5 | 14.9 | 1.8 | 4.50% | 3.18% |
| JPM | JPMorgan Chase & Co. | 3.02% | 14.2 | 13.5 | 4.7 | 1.94% | 3.52% |
| C | Citigroup Inc. | 3.00% | 12.1 | 10.2 | 2.5 | 2.16% | 4.11% |
| GS | The Goldman Sachs Group, Inc. | 2.95% | 12.7 | 12.8 | 3.6 | 2.27% | 3.87% |
| VZ | Verizon Communications Inc. | 2.93% | 11.7 | 8.7 | 1.3 | 6.32% | 4.16% |
| MS | Morgan Stanley | 2.92% | 14.3 | 14.9 | 3.6 | 2.55% | 3.38% |
| TMUS | T-Mobile US, Inc. | 2.74% | 16.6 | 11.7 | 1.9 | 2.94% | 2.73% |
| BAC | Bank of America Corporation | 2.71% | 12.2 | 10.8 | 3.1 | 2.50% | 3.67% |
| T | AT&T Inc. | 2.67% | 7.7 | 9.9 | 1.3 | 4.74% | 5.73% |
| PSX | Phillips 66 | 1.79% | 16.8 | 9.7 | 0.8 | 1.81% | 1.77% |
| VLO | Valero Energy Corporation | 1.76% | 18.5 | 10.2 | 1.0 | 1.08% | 1.57% |
| COP | ConocoPhillips | 1.69% | 19.4 | 12.7 | 2.7 | 2.29% | 1.45% |
| KMI | Kinder Morgan, Inc. | 1.61% | 22.1 | 20.0 | 4.2 | 3.45% | 1.21% |
| DVN | Devon Energy Corporation | 1.61% | 11.1 | 9.3 | 3.0 | 2.52% | 2.42% |
| CI | Cigna Corporation | 1.60% | 12.5 | 8.3 | 0.3 | 2.06% | 2.13% |
| ELV | Elevance Health Inc. | 1.60% | 19.0 | 13.7 | 0.5 | 1.61% | 1.40% |
| EOG | EOG Resources, Inc. | 1.60% | 12.3 | 10.1 | 3.1 | 2.58% | 2.16% |
| TRV | The Travelers Companies, Inc. | 1.59% | 10.5 | 10.8 | 1.7 | 1.28% | 2.52% |
| AEP | American Electric Power Company, Inc. | 1.59% | 22.0 | 17.2 | 3.0 | 2.99% | 1.19% |
Share of earnings = the holding's part of the fund's combined trailing profit. Green: earns more than its weight; orange: less. Symbol links go to each company's key metrics.
About PWV valuation
Adding up its 48 holdings with company data, PWV trades at 16.0 times trailing earnings and 11.8 times analysts' forward estimates, with a price-to-book ratio of 2.17 and a dividend yield of 2.59%. Its earnings yield of 6.23% is 0.91 points above the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 34.2% of the fund and earn 32.5% of its combined profit. By sector, Utilities is the most expensive at 22.0 times earnings and Financial Services the cheapest at 11.8. Companies that lost money over the past year are 1.3% of the covered weight.
How these figures are calculated. Each ratio treats the fund as one company: the earnings, sales and book value of every holding are added up in proportion to its weight and divided into the fund's price. In practice that is a weighted harmonic mean, so a single stock with a very high P/E cannot distort the result, and loss-making companies reduce the fund's earnings instead of being dropped. Covers 100.0% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: PWV chart, PWV performance, PWV holdings, PWV dividends.
PWV valuation FAQ
What is the P/E ratio of PWV?
Based on its holdings, PWV has a trailing P/E of 16.0 and a forward P/E of 11.8 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of PWV?
The trailing earnings yield is 6.23% (1 ÷ P/E) and the forward earnings yield 8.46%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is PWV more expensive than the S&P 500?
PWV trades at 16.0 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 11.8 and 19.9.
What is the price-to-book ratio of PWV?
The holdings of PWV trade at 2.17 times book value, with a combined return on equity of 13.5%.
Which sector in PWV has the highest P/E?
Utilities has the highest P/E at 22.0 and Financial Services the lowest at 11.8.