The Invesco Large Cap Growth ETF (PWB Quick QuotePWB - Free Report) was launched on March 3, 2005, and is a passively managed exchange traded fund designed to offer broad exposure to the Large Cap Growth segment of the US equity market.

The fund is sponsored by Invesco. It has amassed assets over $1.42 billion, making it one of the average sized ETFs attempting to match the Large Cap Growth segment of the US equity market.

Why Large Cap Growth

Large cap companies typically have a market capitalization above $10 billion. Overall, they are usually a stable option, with less risk and more sure-fire cash flows than mid and small cap companies.

Growth stocks have higher than average sales and earnings growth rates. While these are expected to grow faster than the broader market, they also have higher valuations. Further, growth stocks have a higher level of volatility associated with them. Even though growth stocks are more likely to outperform their value counterparts in strong bull markets, value stocks have a record of delivering better returns in almost all markets than growth stocks.

Costs

Investors should also pay attention to an ETF's expense ratio. Lower cost products will produce better results than those with a higher cost, assuming all other metrics remain the same.

Annual operating expenses for this ETF are 0.55%, putting it on par with most peer products in the space.

It has a 12-month trailing dividend yield of 0.06%.

Sector Exposure and Top Holdings

While ETFs offer diversified exposure, which minimizes single stock risk, a deep look into a fund's holdings is a valuable exercise. And, most ETFs are very transparent products that disclose their holdings on a daily basis.

This ETF has heaviest allocation to the Information Technology sector -- about 46.4% of the portfolio. Industrials and Financials round out the top three.

Looking at individual holdings, Micron Technology Inc (MU) accounts for about 3.73% of total assets, followed by Palantir Technologies Inc (PLTR) and Broadcom Inc (AVGO).

The top 10 holdings account for about 33.8% of total assets under management.

Performance and Risk

PWB seeks to match the performance of the Dynamic Large Cap Growth Intellidex Index before fees and expenses. The Dynamic Large Cap Growth Intellidex Index is designed to provide capital appreciation while maintaining consistent stylistically accurate exposure.

The ETF has added roughly 25.77% so far this year and was up about 25.05% in the last one year (as of 12/22/2025). In the past 52-week period, it has traded between $86.24 and $131.31.

The ETF has a beta of 1.16 and standard deviation of 17.9% for the trailing three-year period, making it a medium risk choice in the space. With about 52 holdings, it effectively diversifies company-specific risk.

Alternatives

Invesco Large Cap Growth ETF holds a Zacks ETF Rank of 1 (Strong Buy), which is based on expected asset class return, expense ratio, and momentum, among other factors. Because of this, PWB is an outstanding option for investors seeking exposure to the Style Box - Large Cap Growth segment of the market. There are other additional ETFs in the space that investors could consider as well.

The Vanguard Growth ETF (VUG) and the Invesco QQQ (QQQ) track a similar index. While Vanguard Growth ETF has $201.58 billion in assets, Invesco QQQ has $406.24 billion. VUG has an expense ratio of 0.04% and QQQ charges 0.2%.

Bottom-Line

An increasingly popular option among retail and institutional investors, passively managed ETFs offer low costs, transparency, flexibility, and tax efficiency; they are also excellent vehicles for long term investors.

To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.