PWV vs VTI
Invesco Large Cap Value ETF vs Vanguard Morningstar Total Stock Market ETF
Which is better, PWV or VTI?
Large Cap Value against Large Cap Blend.
VTI has a lower expense ratio. PWV led over 1Y and 5Y, VTI over 3Y and the full window. The two have moved almost in lockstep, correlation 0.90. VTI is less concentrated, with 33.5% of the fund in its ten largest positions against 33.8%.
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 | VTI |
|---|---|---|
| Expense Ratio | 0.55% | 0.03%Best |
| AUM | $1.8B | $689.2B |
| Dividend Yield | 1.80% | 1.06% |
| Holdings | 108 | 3,524 |
| YTD Return | +19.41%Best | +13.02% |
| 1Y Return | +24.33%Best | +16.63% |
| 3Y Return (annualized) | +21.40% | +21.97%Best |
| 5Y Return (annualized) | +13.58%Best | +11.99% |
| Volatility (annualized) | 14.5%Best | 15.3% |
| Max Drawdown | -50.7%Best | -56.6% |
| $10,000 over 5 years | $18,902Best | $17,616 |
| Top 10 Weight | 33.8% | 33.5%Best |
| Fund Family | Invesco (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Mar 3, 2005 | May 24, 2001 |
Volatility and max drawdown are measured over the window both funds cover: Mar 3, 2005 to Oct 14, 2026 (21.6 years).
PWV vs VTI 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 21.6 years both funds cover.
PWV vs VTI Performance
Invesco Large Cap Value ETF (PWV) is an ETF from Invesco (US) and Vanguard Morningstar Total Stock Market ETF (VTI) is an ETF from Vanguard (US). Over the past year PWV returned +24.33% while VTI returned +16.63%. Year to date, PWV is up 19.41% versus a gain of 13.02% for VTI.
Over three years, PWV compounded at +21.40% per year against +21.97% for VTI; over five years the annualized figures are +13.58% and +11.99% respectively. Across the full 22-year window we track, VTI has the edge at +9.35% annualized vs +8.56%.
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 what each fund did in the worst stretch of the window measured above.
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 1.80% against 1.06% for VTI.
Holdings Overlap
97.0% of PWV's money is in holdings VTI also owns. 10.1% of VTI's money is in holdings PWV also owns.
Most of PWV is already inside VTI. Owning both mostly buys the same companies twice.
48 positions in common, counted across the 51 positions we hold weights for in PWV and 3,441 in VTI, against full books of 108 and 3,524.
What only one of them owns
Our book lists 1,108 positions for VTI that do not appear in our book for PWV (87.5% of the fund), and 2 for PWV that do not appear in VTI (1.5%).
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 VTI | Difference |
|---|---|---|---|
| JPMJpmorgan Chase & Co. | 3.30% | 1.29% | 2.01% |
| XOMExxon Mobil Corp. | 3.62% | 0.90% | 2.72% |
| CVXChevron Corp Com USD.75 | 3.67% | 0.53% | 3.14% |
| UNHUnited Healthcare Corp. | 3.32% | 0.48% | 2.84% |
| CCitigroup, Inc. | 3.42% | 0.30% | 3.12% |
| WFCWells Fargo & Co. | 3.36% | 0.36% | 3.00% |
| BACBank Of America Corp. | 3.05% | 0.54% | 2.51% |
| TAt&Amp;T Inc | 3.34% | 0.24% | 3.10% |
| AMGNAmgen Inc. | 3.23% | 0.31% | 2.92% |
| DISWalt Disney Co | 3.26% | 0.25% | 3.01% |
97.0% of PWV is already inside VTI.
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 VTI?
PWV has an expense ratio of 0.55% while VTI charges 0.03%. VTI is the cheaper option, by $52 a year on a $10,000 investment.
Which performed better, PWV or VTI?
Over the past year PWV returned +24.33% vs +16.63% for VTI, so PWV leads on 1-year performance. Over the longest common window we track (22 years), PWV annualized +8.56% vs +9.35% for VTI. Past performance does not guarantee future results. This is information, not a recommendation.
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. 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 VTI?
97.0% of PWV's money is in holdings VTI also owns. 10.1% of VTI's is in holdings PWV also owns. They hold 48 positions in common, counted across the 51 positions we hold weights for in PWV and 3,441 in VTI.
Which pays a higher dividend, PWV or VTI?
PWV yields 1.80% while VTI yields 1.06%, so PWV currently pays the higher dividend yield.
Is VTI better than PWV?
VTI has a lower expense ratio. PWV led over 1Y and 5Y, VTI over 3Y and the full window. The two have moved almost in lockstep, correlation 0.90. VTI is less concentrated, with 33.5% of the fund in its ten largest positions against 33.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.