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PWV vs RWL: Differences, Returns & Fees

PWV and RWL hold 27% of their weight in the same names, and PWV returned +22.5% over the year. Net assets on Oct 9, 2026: $1.8bn for Invesco Large Cap Value ETF and $10.0bn for Invesco S&P 500 Revenue ETF.

RWL costs 0.16 points a year less; their one-year returns differ by 1.4 points; RWL is 5.5 times larger.

PWV vs RWL: Differences, Returns & Fees
PWVRWL
Expense ratio0.55%0.39%
Net assets$1.8bn$10.0bn
Total return, 1 year+22.5%+21.1%
What it tracksDynamic Large Cap Value Intellidex IndexS&P 500 Revenue-Weighted Index
Holdings in common27%
Holdings datedOct 10, 2026Oct 10, 2026
Top ten holdings, share of the fund33.8%24.0%
Below its high6.5%, high on Sep 3, 2026

Holdings in common uses holdings dated Oct 9, 2026.

+22.5%
PWV total return, 1 year
+21.1%
RWL total return, 1 year
0.55%
PWV expense ratio
0.39%
RWL expense ratio

What they hold in common

By the books each fund has filed, PWV and RWL hold 27% 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

27% in common

Positions both hold, largest shared weight first
Holding PWV RWL
UnitedHealth Group Inc 3.35% 2.18%
ExxonMobil Holdings Corp 3.69% 1.88%
Cencora Inc 1.48% 1.67%
Cigna Group/The 1.52% 1.44%
JPMorgan Chase & Co 3.29% 1.41%
CVS Health Corp 1.40% 1.88%
Chevron Corp 3.72% 1.05%
Elevance Health Inc 1.56% 1.05%
General Motors Co 1.45% 0.92%
Ford Motor Co 1.31% 0.85%
Bank of America Corp 3.05% 0.85%
Citigroup Inc 3.41% 0.83%
Only in PWV
Energy Transfer LP 1.46%
Only in RWL
Amazon.com Inc 4.05%
Walmart Inc 3.89%
Apple Inc 2.50%
McKesson Corp 2.17%
Berkshire Hathaway Inc 1.97%
Microsoft Corp 1.81%
NVIDIA Corp 1.56%
Costco Wholesale Corp 1.55%

Check overlap with more funds →

On the same fields

PWV
Invesco Large Cap Value ETF
RWL
Invesco S&P 500 Revenue ETF
Where it sits Stock ETF Stock ETF
Issuer Invesco Invesco
What it is Tracks an index Tracks an index
Total return, 1 year +22.5% +21.1%
Expense ratio 0.55% 0.39%
Already in the S&P 500 96.4% 99.4%
Holdings 52 505
Net assets $1.8bn $10.0bn

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

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.

About RWL

RWL tracks an index. Over the year to Oct 9, 2026 it returned +21.1% with distributions reinvested. The prospectus expense ratio is 0.39% a year. By its holdings published by its issuer for Oct 10, 2026, 99% of the fund by weight is stocks the S&P 500 also holds, across 505 positions, with the top ten at 24.0%.

Questions people ask

Which returned more over the last year, PWV or RWL?
In the year to Oct 9, 2026, with distributions reinvested, PWV returned +22.5% and RWL +21.1%.
Which is cheaper, PWV or RWL?
RWL is cheaper, by 0.16 percentage points a year. That is about $16 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do PWV and RWL overlap with the S&P 500?
By their latest filed holdings, 96% of PWV and 99% of RWL by weight is stocks the S&P 500 already holds.
Other comparisons
FDL vs PWVFTCS vs PWVPWV vs SPYDPWV vs SPLVBKDV vs RWLDIVB vs RWLDTD vs RWLBGIG vs RWL
PWV on its own →RWL on its own →Hold both: look the portfolio through →Rankings →Standards and sources →
Where these figures came from
PWV filings on SEC EDGAR ↗PWV prospectus with the expense ratio (SEC) ↗Invesco page for PWV ↗RWL filings on SEC EDGAR ↗RWL prospectus with the expense ratio (SEC) ↗Invesco page for RWL ↗

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

Open data

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