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Launched · SEC filings

Invesco Large Cap Growth ETF

PWBNYSE ArcaInvescoC

$145.33−2.30 (−1.56%)

At close: Nov 2, 2026, 4:00 PM ET

C52/ 100

Rank 26 of 35 in US Growth Index

C52/100Rank 26 of 35inUS Growth Index
Intraday session: down, 79 prints from 147.63 to 145.33. Range 145.30 to 149.65. Use the arrow keys to read each point.146.00147.00149.0010 AM12 PM2 PM4 PM
Expense ratio
0.55%
Fund size
$2.53B
1Y total return
+13.2%
Yield · Last 12 months
0.00%
Holdings
52
Avg volume · 30D
107K sh
52W range
low $118.50high $169.01
Launched
Filings
SEC EDGAR

The ETF.net PWB Grade

C

Score 52 out of 100

Category
US Growth Index⁠
Rank
26 of 35
Six-pillar profile for PWB. Scores out of 100: Cost 12, Risk 51, Mission 84, Tradability 73, Holdings 66, Durability 59. Strongest: Mission (84). Weakest: Cost (12). Leans toward Mission.

Score 52 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F12 out of 100
    Rank 31 of 35

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A84 out of 100
    Rank 26 of 32

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C51 out of 100
    Rank 15 of 35

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A73 out of 100
    Rank 7 of 35

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B66 out of 100
    Rank 14 of 35

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B59 out of 100
    Rank 17 of 35

Our read on PWB

ETF.net Research

In short

CSmart beta before it had a name. Since 2005, PWB has run a rules-based Intellidex screen down to about 50 large-cap growth names instead of owning the whole growth index by size.

Stated mandate

The Fund seeks capital appreciation by tracking the Dynamic Large Cap Growth IntellidexSM Index.

Why people hold it

  • Live since 2005, making it one of the longest-running rules-based growth ETFs on the market, with two decades of history through multiple full market cycles.invesco.com
  • The Intellidex screen lands on roughly 50 names, so it behaves less like a cap-weighted growth index and more like a quant stock-picker in an index wrapper.
  • A billion-dollar-plus fund with moderate trading activity and one clearly stated job: capital appreciation by tracking the Dynamic Large Cap Growth Intellidex Index.

Worth knowing

  • At 0.55% a year, it runs roughly three times the 0.18% median for its growth cohort, and the cheapest peers (VUG, SCHG) charge 0.03% to 0.04%.
  • With about 50 holdings, single names and sector tilts carry real weight, so the ride can look quite different from a broad cap-weighted growth index.
  • The stated mandate is capital appreciation, not income, and the fund has not been a regular distribution payer.

PWB Performance

Launched Mar 3, 2005

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

PWB$11,325
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. PWB $11,325. SPY $11,199. Use the arrow keys to read each point.$10,000$12,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for PWB. Periods over one year show the average yearly return.
PeriodPWB
Year to date+16.1%
1 month−9.0%
3 months−3.6%
1 year+13.2%
3 yearsper year+30.2%
5 yearsper year+13.5%
10 yearsper year+17.3%

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for PWB
YearReturn barPWB
2026 YTD+16.1%
2025+24.9%
2024+31.0%
2023+30.6%
2022−25.8%
2021+19.6%
2020+31.9%

PWB in the news

PWB Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
0.00%Last 12 months
Payout per share
NoneLast 12 months

No distributions in the last 12 months.

Distribution history

Payments through 2025

One bar per payment. 33 payments from 2016 to 2025. Mar 18, 2016 $0.01; Jun 17, 2016 $0.07; Sep 16, 2016 $0.08; Dec 16, 2016 $0.10; Jun 16, 2017 $0.11; Sep 18, 2017 $0.05; Dec 18, 2017 $0.06; Mar 19, 2018 $0.05; Jun 18, 2018 $0.11; Sep 24, 2018 $0.09; Dec 24, 2018 $0.16; Mar 18, 2019 $0.09; Jun 24, 2019 $0.13; Sep 23, 2019 $0.04; Dec 23, 2019 $0.05; Mar 23, 2020 $0.06; Jun 22, 2020 $0.05; Sep 21, 2020 $0.01; Dec 21, 2020 $0.02; Mar 22, 2021 $0.007; Jun 21, 2021 $0.01; Sep 20, 2021 $0.01; Mar 21, 2022 $0.0072; Jun 21, 2022 $0.02; Sep 19, 2022 $0.05; Dec 19, 2022 $0.11; Mar 20, 2023 $0.08; Jun 20, 2023 $0.07; Sep 18, 2023 $0.03; Dec 18, 2023 $0.10; Mar 18, 2024 $0.008; Dec 23, 2024 $0.07; Jun 23, 2025 $0.002. Use the arrow keys to read each point.2016201720182019202020212022202320242025
Ex-datePay dateAmount per share
Jun 23, 2025Jun 27, 2025$0.002
Dec 23, 2024Dec 27, 2024$0.07
Mar 18, 2024Mar 22, 2024$0.008
Dec 18, 2023Dec 22, 2023$0.10
Sep 18, 2023Sep 22, 2023$0.03
Jun 20, 2023Jun 23, 2023$0.07
Mar 20, 2023Mar 24, 2023$0.08
Dec 19, 2022Dec 23, 2022$0.11
Sep 19, 2022Sep 23, 2022$0.05
Jun 21, 2022Jun 30, 2022$0.02
Mar 21, 2022Mar 31, 2022$0.0072
Sep 20, 2021Sep 30, 2021$0.01

See all 60 payments⁠

$10,000 in PWB 10 years ago paid $577 in dividends.⁠

PWB Risk

Risk pillarC51 out of 100Rank 15 of 35 in US Growth Index
How much the fund’s monthly returns vary, scaled to a year.
20.3%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.19
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−31.4%
Trough Oct 2022
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.22
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

PWB Cost

Compare PWB and VUG

Overpaying vs VUG, cheapest in US Growth Index

$10,266

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • PWB 0.55%

    $10,904

  • VUG 0.03% Cheapest

    $638

$10,000
30 years

Cost over time

  • PWB 0.55%
  • VUG 0.03%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530PWB $10,904VUG $638

Year by year

YearPWBVUGOverpaying
10$988$55$933
20$3,790$216$3,574
30$10,904$638$10,266

Other funds in US Growth Index

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