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PWV vs SPLV: Differences, Returns & Fees

PWV and SPLV hold 12% 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 $7.0bn for Invesco S&P 500 Low Volatility ETF.

SPLV costs 0.30 points a year less; their one-year returns differ by 20.5 points; SPLV is 3.8 times larger.

PWV vs SPLV: Differences, Returns & Fees
PWVSPLV
Expense ratio0.55%0.25%
Net assets$1.8bn$7.0bn
Total return, 1 year+22.5%+2.0%
What it tracksDynamic Large Cap Value Intellidex IndexS&P 500 Low Volatility Index
Holdings in common12%
Holdings datedOct 10, 2026Oct 10, 2026
Top ten holdings, share of the fund33.8%12.7%
Below its high6.5%, high on Sep 3, 20267.1%, high on Jul 28, 2026

Holdings in common uses holdings dated Oct 9, 2026.

+22.5%
PWV total return, 1 year
+2.0%
SPLV total return, 1 year
0.55%
PWV expense ratio
0.25%
SPLV expense ratio

What they hold in common

By the books each fund has filed, PWV and SPLV hold 12% 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

12% in common

Positions both hold, largest shared weight first
Holding PWV SPLV
American Electric Power Co Inc 1.50% 1.10%
Chubb Ltd 1.50% 1.09%
Kinder Morgan Inc 1.58% 1.07%
Travelers Cos Inc/The 1.50% 1.01%
Chevron Corp 3.72% 0.99%
MetLife Inc 1.54% 0.90%
PepsiCo Inc 3.11% 0.89%
JPMorgan Chase & Co 3.29% 0.86%
PNC Financial Services Group Inc/The 1.35% 0.83%
US Bancorp 1.39% 0.82%
General Dynamics Corp 1.33% 0.81%
Bank of America Corp 3.05% 0.81%
Only in PWV
ExxonMobil Holdings Corp 3.69%
Wells Fargo & Co 3.46%
Citigroup Inc 3.41%
Walt Disney Co/The 3.41%
UnitedHealth Group Inc 3.35%
Amgen Inc 3.29%
Morgan Stanley 3.08%
AT&T Inc 3.06%
Only in SPLV
Berkshire Hathaway Inc 1.44%
Evergy Inc 1.28%
WEC Energy Group Inc 1.27%
FirstEnergy Corp 1.27%
Duke Energy Corp 1.27%
Regency Centers Corp 1.25%
Atmos Energy Corp 1.25%
Pinnacle West Capital Corp 1.23%

Check overlap with more funds →

On the same fields

PWV
Invesco Large Cap Value ETF
SPLV
Invesco S&P 500 Low Volatility 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% +2.0%
Expense ratio 0.55% 0.25%
Already in the S&P 500 96.4% 98.7%
Holdings 52 108
Net assets $1.8bn $7.0bn

PWV and SPLV 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 SPLV

SPLV tracks an index. Over the year to Oct 9, 2026 it returned +2.0% with distributions reinvested. The prospectus expense ratio is 0.25% 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 108 positions, with the top ten at 12.7%. It sat 7.1% below its high of Jul 28, 2026 on Oct 9, 2026.

Questions people ask

Which returned more over the last year, PWV or SPLV?
In the year to Oct 9, 2026, with distributions reinvested, PWV returned +22.5% and SPLV +2.0%.
Which is cheaper, PWV or SPLV?
SPLV is cheaper, by 0.30 percentage points a year. That is about $30 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do PWV and SPLV overlap with the S&P 500?
By their latest filed holdings, 96% of PWV and 99% of SPLV by weight is stocks the S&P 500 already holds.
Other comparisons
PWV vs SCHVPWV vs SPYDJAVA vs PWVDFLV vs PWVBKDV vs SPLVDIVB vs SPLVDTD vs SPLVBGIG vs SPLV
PWV on its own →SPLV 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 ↗SPLV filings on SEC EDGAR ↗SPLV prospectus with the expense ratio (SEC) ↗Invesco page for SPLV ↗

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 SPLV, data as of Oct 9, 2026. https://etfiq.com/compare/any/pwv-vs-splv

Open data

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