PWV vs SCHV: Grades, Fees and Holdings Compared

Invesco Large Cap Value ETF

PWVCNYSE Arca

Schwab U.S. Large-Cap Value ETF

SCHVANYSE Arca

Overlap

21.2%by weight

Expense ratio

SCHV −0.51pt a year

PWV0.55%SCHV0.04%

Avg volume · 30D

SCHV 20.9×the volume

PWV151KSCHV3.17M

10Y return · a year

PWV +1.0pt

PWV+12.6%SCHV+11.6%

PWV vs SCHV Performance

Oct 29, 2021 – Oct 30, 2026

+91.4%PWV+63.8%SCHV

Expense ratio: PWV 0.55%; SCHV 0.04%, better
Fund size: PWV $1.89B; SCHV $15.7B
1Y total return: PWV +27.2%, better; SCHV +22.1%
Yield (12M): PWV 1.70%; SCHV 1.81%, better
Holdings: PWV 51; SCHV 568
Avg volume (30D): PWV 151K sh; SCHV 3.17M sh, better
NAV per share: PWV $80.86; SCHV $34.62
52W range

ETF.net Grade

Pillar letters and Scores for PWV, SCHV, with each pillar’s weight
Pillar	PWV	SCHV
Cost30% weight	F13	A96Higher
Mission25% weight	B63	A88Higher
Risk15% weight	A81Higher	B68
Tradability15% weight	B64	A95Higher
Holdings10% weight	D38	B59Higher
Durability5% weight	B63	B68Higher

Rank among US Value Index funds

How we build Categories ›

Same Category. PWV and SCHV are both graded against the same 40 US Value Index funds, so their Grades compare head to head.

US Value Index⁠

Category · 40 funds

See all 40 ›

SCHV ranks 1st and PWV 30th of 40 funds in the US Value Index Category.

Rank 1ASCHVSchwab U.S. Large-Cap Value ETFScore 84
Rank 2AVTVVanguard Morningstar Value ETFScore 83
Rank 28CVFVAVanguard U.S. Value Factor ETFScore 49
Rank 30CPWVInvesco Large Cap Value ETFScore 48
Rank 31CDFATDimensional US Targeted Value ETFScore 46

Our read on each fund

ETF.net Research

PWVCInvesco Large Cap Value ETF

SCHVASchwab U.S. Large-Cap Value ETF

In short

PWV A 2005-vintage value fund that doesn't just buy the cheap half of the market. Invesco's Intellidex rules screen large caps down to roughly 50 names, and you pay 0.55% a year for that selectivity.

SCHV No data

Stated mandate

PWV The Fund seeks capital appreciation by investing primarily in common stocks that comprise its underlying index.

SCHV No data

Why people hold it

PWV About 50 large-cap names picked by a rules-based Intellidex screen, not a few hundred sorted by price tag. Concentration is the whole point.invesco.com
Running since 2005 and now a multi-billion-dollar fund, so it's a long-tenured strategy rather than a recent launch riding a value revival.
Pays quarterly, and its swings have been mild for a stock fund compared with others in the value group.

SCHV No data

Worth knowing

PWV At 0.55%, one of the pricier ways to own large-cap value. VTV, SCHV and IUSV run the plain-index version for 0.03% to 0.04%.
A 50-stock screen can wander well away from broad value benchmarks, in either direction, between rebalances.
Moderately traded, so spreads won't be as tight as the biggest value ETFs. That shows up most on large or hurried orders.

SCHV No data

Full PWV profile⁠

Full SCHV profile⁠

PWV vs SCHV Holdings

How PWV and SCHV differ

Overlap by weight

21.2%

Shared holdings make up 81.1% of PWV and 21.2% of SCHV.

Level by level

Holdings40 in both21.2%
Countryby domicile99.1%
Asset classEquity100%

Sector

No Sector split for PWV.

Country, concentration and asset class

Country by domicile

Country weights in PWV and SCHV, widest gap first
Country	More in PWVMore in SCHV	PWV	SCHV
Switzerland	PWV +0.9 points	1.5%	0.6%
Other countries (5)	SCHV +0.9 points	98.5%	99.4%

Concentration

Weight in the 10 largest Holdings

PWV34.2%
SCHV19.9%

Securities held

PWV50
SCHV568

Asset class

PWV: Equity
SCHV: Equity

Holdings

Only in PWV10
In both40
Only in SCHV528

Only in PWV

10 securities, 18.7% of PWV by weight

UnitedHealth Group Inc3.51%
Walt Disney Co/The3.37%
Phillips 661.68%
Targa Resources Corp1.58%
Elevance Health Inc1.54%
Diamondback Energy Inc1.50%
Energy Transfer LP1.44%
Regeneron Pharmaceuticals Inc1.42%
Delta Air Lines Inc1.42%
Baker Hughes Co1.28%

Only in SCHV

528 securities, 78.8% of SCHV by weight

Berkshire Hathaway Inc Class B3.29%
Johnson & Johnson2.16%
Walmart1.76%
AbbVie1.67%
Intel Corporation Corp1.49%
Cisco Systems Inc1.39%
Procter & Gamble1.22%
Merck & Co Inc1.18%
Coca-Cola1.17%
Home Depot1.07%
Philip Morris International1.06%
Lam Research1.04%
Texas Instrument0.93%
Rtx0.88%
Netflix0.84%
International Business Machines Co0.79%
Oracle0.79%
Analog Devices0.69%
Gilead Sciences0.67%
Amphenol Corp Class A0.66%
Qualcomm0.65%
Space Exploration Technologies Cor0.64%
Marvell Technology0.62%
Salesforce0.62%
Mcdonalds Corp0.59%
Abbott Laboratories0.59%
Union Pacific0.58%
Nextera Energy0.56%
Pfizer0.56%
American Express0.56%
Welltower0.55%
Tjx0.51%
Accenture PLC Class A0.49%
Danaher0.48%
Charles Schwab0.47%
Dell Technologies Inc Class C0.47%
Progressive0.44%
Lockheed Martin0.43%
Altria Group Inc0.42%
Prologis Reit0.40%
Marathon Petroleum0.40%
Starbucks Corp0.39%
Medtronic PLC0.39%
Newmont0.38%
Lowes Companies Inc0.38%
Automatic Data Processing Inc0.37%
Stryker0.35%
Southern0.35%
Cme Group Class A0.35%
Corning0.33%

Weight gaps

All 40 Holdings in both funds, largest gap first.

Holding weights in PWV and SCHV, widest gap first
Holding	More in PWVMore in SCHV	PWV	SCHV
Amgen IncAMGN	PWV +2.72 points	3.53%	0.81%
PepsiCo IncPEP	PWV +2.59 points	3.18%	0.59%
Wells Fargo & CoWFC	PWV +2.55 points	3.39%	0.84%
T-Mobile US IncTMUS	PWV +2.52 points	2.75%	0.23%
Citigroup IncC	PWV +2.50 points	3.19%	0.69%
Chevron CorpCVX	PWV +2.43 points	3.92%	1.49%
Verizon Communications IncVZ	PWV +2.35 points	2.94%	0.59%
AT&T IncT	PWV +2.28 points	2.75%	0.47%
Morgan StanleyMS	PWV +2.23 points	2.97%	0.74%
Goldman Sachs Group Inc/TheGS	PWV +2.08 points	2.96%	0.88%
Bank of America CorpBAC	PWV +1.69 points	2.77%	1.08%
Occidental Petroleum CorpOXY	PWV +1.42 points	1.57%	0.15%
ExxonMobil Holdings CorpXOM	PWV +1.40 points	3.86%	2.46%
Devon Energy CorpDVN	PWV +1.40 points	1.58%	0.18%
Kinder Morgan IncKMI	PWV +1.37 points	1.59%	0.22%
MetLife IncMET	PWV +1.35 points	1.53%	0.18%
EOG Resources IncEOG	PWV +1.32 points	1.60%	0.28%
ONEOK IncOKE	PWV +1.31 points	1.51%	0.20%
American Electric Power Co IncAEP	PWV +1.30 points	1.53%	0.23%
Cigna Group/TheCI	PWV +1.29 points	1.55%	0.26%
Travelers Cos Inc/TheTRV	PWV +1.29 points	1.56%	0.27%
Valero Energy CorpVLO	PWV +1.28 points	1.64%	0.36%
Cencora IncCOR	PWV +1.25 points	1.46%	0.21%
Allstate Corp/TheALL	PWV +1.23 points	1.44%	0.21%
Truist Financial CorpTFC	PWV +1.22 points	1.42%	0.20%
United Parcel Service IncUPS	PWV +1.22 points	1.48%	0.26%
General Motors CoGM	PWV +1.21 points	1.45%	0.24%
Ameriprise Financial IncAMP	PWV +1.15 points	1.29%	0.14%
Ford Motor CoF	PWV +1.12 points	1.28%	0.16%
Target CorpTGT	PWV +1.13 points	1.35%	0.22%
General Dynamics CorpGD	PWV +1.12 points	1.43%	0.31%
Chubb LtdCB	PWV +1.12 points	1.53%	0.41%
US BancorpUSB	PWV +1.10 points	1.41%	0.31%
Cummins IncCMI	PWV +1.08 points	1.31%	0.23%
PNC Financial Services Group Inc/ThePNC	PWV +1.08 points	1.38%	0.30%
ConocoPhillipsCOP	PWV +1.06 points	1.65%	0.59%
CVS Health CorpCVS	PWV +1.03 points	1.41%	0.38%
Capital One Financial CorpCOF	PWV +0.98 points	1.40%	0.42%
Bristol-Myers Squibb CoBMY	PWV +0.90 points	1.31%	0.41%
JPMorgan Chase & CoJPM	PWV +0.28 points	3.26%	2.98%

All 50 PWV holdings⁠All 570 SCHV holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

PWV vs SCHV Cost

Overpaying PWV vs SCHV

$10,055

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

PWV 0.55%
$10,904
SCHV 0.04%
$849

Amount$10,000

Years30 years

Cost over time

PWV 0.55%
SCHV 0.04%
Overpaying

Year by year

Year	PWV	SCHV	Overpaying
10	$988	$73	$915
20	$3,790	$288	$3,502
30	$10,904	$849	$10,055

Expense ratio

0.55%PWV
0.04%SCHV, cheaper

SCHV0.04%PWV0.55%

0.03%0.80%

Middle half of US Value Index funds
Median 0.20%

SCHV 3rd cheapest of 40 funds

PWV 35th cheapest of 40 funds

PWV vs SCHV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): PWV 1.70%; SCHV 1.81%, better
Payout (12M): PWV $1.37; SCHV $0.63
Last payment: PWV $0.34; SCHV $0.16
Ex-dividend: PWV Sep 21, 2026; SCHV Sep 23, 2026
Paid on: PWV Sep 25, 2026; SCHV Sep 28, 2026
Frequency: PWV Quarterly; SCHV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

PWVQuarterly · 39 paymentsAll PWV payments⁠

SCHVQuarterly · 40 paymentsAll SCHV payments⁠

PWV vs SCHV Risk

Fall from peak · 5 years

PWV
SCHV

Risk facts

VolatilityStd dev, 3 years: PWV 12.6%SCHV 11.9%, better
Return per unit of riskSharpe ratio, 3 years: PWV 1.44, betterSCHV 1.31
Worst fallMax drawdown, 5 years: PWV −16.4%, betterSCHV −19.8%
Market sensitivityBeta, 5 years: PWV 0.65SCHV 0.76; Market = 1

PWV and SCHV in the news

All news⁠

Best ETFs
Best value ETFs: Vanguard's 0.03% fund, unless you want Russell's list
Updated Nov 2, 2026SCHV
Category Review
One US value fund returned 68% with Micron at 22.5%. The median returned 22%
Updated Sep 23, 2026SCHV

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PWV vs SCHV

In short

Stated mandate

Why people hold it

Worth knowing

How PWV and SCHV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in PWV

Only in SCHV

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Best value ETFs: Vanguard's 0.03% fund, unless you want Russell's list

One US value fund returned 68% with Micron at 22.5%. The median returned 22%