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IWD vs PWV: Differences, Returns & Fees

IWD and PWV hold 18% of their weight in the same names, and IWD returned +26.4% over the year. Net assets on Oct 9, 2026: $82.9bn for iShares Russell 1000 Value ETF and $1.8bn for Invesco Large Cap Value ETF.

IWD costs 0.37 points a year less; their one-year returns differ by 3.9 points; IWD is far larger, $82.9bn against $1.8bn.

IWD vs PWV: Differences, Returns & Fees
IWDPWV
Expense ratio0.18%0.55%
Net assets$82.9bn$1.8bn
Total return, 1 year+26.4%+22.5%
What it tracksRussell 1000 Value IndexDynamic Large Cap Value Intellidex Index
Holdings in common18%
Holdings datedOct 9, 2026Oct 10, 2026
Top ten holdings, share of the fund30.0%33.8%
Below its high6.5%, high on Sep 3, 2026

Holdings in common uses holdings dated Oct 9, 2026.

+26.4%
IWD total return, 1 year
+22.5%
PWV total return, 1 year
0.18%
IWD expense ratio
0.55%
PWV expense ratio

What they hold in common

By the books each fund has filed, IWD and PWV hold 18% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Oct 9, 2026.

half

18% in common

Positions both hold, largest shared weight first
Holding IWD PWV
JPMORGAN CHASE & CO 2.40% 3.29%
EXXONMOBIL HOLDINGS CORP 1.87% 3.69%
CHEVRON 1.06% 3.72%
UNITEDHEALTH GROUP 0.92% 3.35%
BANK OF AMERICA 0.88% 3.05%
GOLDMAN SACHS GROUP 0.70% 2.96%
WELLS FARGO 0.68% 3.46%
MORGAN STANLEY 0.57% 3.08%
WALT DISNEY 0.51% 3.41%
CITIGROUP 0.49% 3.41%
VERIZON COMMUNICATIONS INC 0.47% 2.96%
CONOCOPHILLIPS 0.44% 1.53%
Only in IWD
AMAZON.COM INC 6.28%
APPLE 6.01%
MICROSOFT 5.35%
BERKSHIRE HATHAWAY INC CLASS B 2.59%
JOHNSON & JOHNSON 1.70%
INTEL CORPORATION 1.29%
CISCO SYSTEMS INC 1.26%
ABBVIE 1.21%
Only in PWV
Targa Resources Corp 1.50%
Cencora Inc 1.48%
Energy Transfer LP 1.46%
Invesco Government & Agency Portfolio 0.07%
SECURITIES LENDING - BNYM 0.00%

Check overlap with more funds →

On the same fields

IWD
iShares Russell 1000 Value ETF
PWV
Invesco Large Cap Value ETF
Where it sits Stock ETF Stock ETF
Issuer iShares Invesco
What it is Tracks the Russell 1000 value Tracks an index
Total return, 1 year +26.4% +22.5%
Its benchmark over the same days +26.5% (VONV) not published
Gap to its benchmark −0.1 pts vs VONV not available
Expense ratio 0.18% 0.55%
Already in the S&P 500 90.0% 96.4%
Holdings 871 52
Net assets $82.9bn $1.8bn

IWD and PWV on the fields both publish, as of Oct 9, 2026. Source: ETFIQ.

About IWD

IWD tracks the Russell 1000 value. Over the year to Oct 9, 2026 it returned +26.4% with distributions reinvested, against +26.5% for its benchmark, the Russell 1000 Value Index. The prospectus expense ratio is 0.18% a year. By its holdings published by its issuer for Oct 9, 2026, 90% of the fund by weight is stocks the S&P 500 also holds, across 871 positions, with the top ten at 30.0%.

About PWV

PWV tracks an index. Over the year to Oct 9, 2026 it returned +22.5% with distributions reinvested. The prospectus expense ratio is 0.55% a year. By its holdings published by its issuer for Oct 10, 2026, 96% of the fund by weight is stocks the S&P 500 also holds, across 52 positions, with the top ten at 33.8%. It sat 6.5% below its high of Sep 3, 2026 on Oct 9, 2026.

Questions people ask

Which returned more over the last year, IWD or PWV?
In the year to Oct 9, 2026, with distributions reinvested, IWD returned +26.4% and PWV +22.5%.
Which is cheaper, IWD or PWV?
IWD is cheaper, by 0.37 percentage points a year. That is about $37 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do IWD and PWV overlap with the S&P 500?
By their latest filed holdings, 90% of IWD and 96% of PWV by weight is stocks the S&P 500 already holds.
Other comparisons
BKDV vs IWDDIVB vs IWDDTD vs IWDBGIG vs IWDPWV vs SCHDPWV vs VTVPWV vs SCHVDFUV vs PWV
IWD on its own →PWV on its own →Hold both: look the portfolio through →Rankings →Standards and sources →
Where these figures came from
IWD filings on SEC EDGAR ↗IWD prospectus with the expense ratio (SEC) ↗iShares page for IWD ↗PWV filings on SEC EDGAR ↗PWV prospectus with the expense ratio (SEC) ↗Invesco page for PWV ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Cite this pageCitation, APA and Markdown

ETFIQ, IWD against PWV, data as of Oct 9, 2026. https://etfiq.com/compare/any/iwd-vs-pwv

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.