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DFSV vs. RWJ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DFSV vs. RWJ

Last updated Aug 6, 2026
Documentation

DFSV (Dimensional US Small Cap Value ETF) and RWJ (Invesco S&P SmallCap 600 Revenue ETF) are both Small Cap Value Equities funds. DFSV is actively managed, while RWJ is passively managed. Over the past 3 years, DFSV returned 15.48%/yr vs 17.28%/yr for RWJ. Their 0.96 correlation means they have historically moved very closely together. DFSV charges 0.31%/yr vs 0.39%/yr for RWJ.

Performance

DFSV vs. RWJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional US Small Cap Value ETF (DFSV) and Invesco S&P SmallCap 600 Revenue ETF (RWJ). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, DFSV achieves a 23.38% return, which is significantly lower than RWJ's 28.32% return.

DFSV

1D
-0.84%
1M
4.00%
6M
11.02%
YTD
23.38%
1Y
37.08%
3Y*
15.48%
5Y*
—
10Y*
—
ALL TIME*
13.53%

RWJ

1D
-1.05%
1M
4.28%
6M
16.47%
YTD
28.32%
1Y
43.01%
3Y*
17.28%
5Y*
11.24%
10Y*
13.57%
ALL TIME*
12.65%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

DFSV

Dimensional US Small Cap Value ETF
$28.52M$28.34M$35.15M

RWJ

Invesco S&P SmallCap 600 Revenue ETF
$4.99M$5.42M$5.09M

DFSV vs. RWJ - Yearly Performance Comparison

2026 (YTD)2025202420232022
DFSV
Dimensional US Small Cap Value ETF		23.38%8.59%7.13%19.26%2.68%
RWJ
Invesco S&P SmallCap 600 Revenue ETF		28.32%7.75%11.81%16.21%-4.30%

Correlation

The correlation between DFSV and RWJ is 0.93, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.93

Correlation (3Y)
Balances recent behavior with more history.

0.95

Correlation (All Time)
Calculated using the full available price history since Feb 24, 2022

0.96

The correlation between DFSV and RWJ has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

DFSV vs. RWJ - Sectors Allocation Comparison

Sectors
DFSV
RWJ

Financial Services

28.5%
11.6%

Industrials

16.1%
15.3%

Consumer Cyclical

14.9%
25.4%

Energy

11.1%
6.5%

Technology

7.8%
10.3%

Healthcare

7.3%
11.0%

Consumer Defensive

5.6%
7.7%

Basic Materials

4.7%
4.7%

Communication Services

2.6%
2.6%

Real Estate

0.9%
4.1%

Utilities

0.6%
0.9%

Financial Services

DFSV
28.5%
RWJ
11.6%

Industrials

DFSV
16.1%
RWJ
15.3%

Consumer Cyclical

DFSV
14.9%
RWJ
25.4%

Energy

DFSV
11.1%
RWJ
6.5%

Technology

DFSV
7.8%
RWJ
10.3%

Healthcare

DFSV
7.3%
RWJ
11.0%

Consumer Defensive

DFSV
5.6%
RWJ
7.7%

Basic Materials

DFSV
4.7%
RWJ
4.7%

Communication Services

DFSV
2.6%
RWJ
2.6%

Real Estate

DFSV
0.9%
RWJ
4.1%

Utilities

DFSV
0.6%
RWJ
0.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Dimensional US Small Cap Value ETF

Invesco S&P SmallCap 600 Revenue ETF

Often compared with DFSV:
DFSV vs. AVUVDFSV vs. DFSVXDFSV vs. AVDVDFSV vs. SPSMDFSV vs. SMCFDFSV vs. VTIDFSV vs. SPY
Often compared with RWJ:
RWJ vs. AVUVXRWJ vs. XSVMRWJ vs. RWKRWJ vs. RZVRWJ vs. CALFRWJ vs. RFVRWJ vs. FSMD

Return for Risk

DFSV vs. RWJ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
DFSV
DFSV Risk / Return Rank: 8686
Overall Rank
DFSV Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
DFSV Sortino Ratio Rank: 8888
Sortino Ratio Rank
DFSV Omega Ratio Rank: 8484
Omega Ratio Rank
DFSV Calmar Ratio Rank: 8888
Calmar Ratio Rank
DFSV Martin Ratio Rank: 8585
Martin Ratio Rank
RWJ
RWJ Risk / Return Rank: 8787
Overall Rank
RWJ Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
RWJ Sortino Ratio Rank: 8989
Sortino Ratio Rank
RWJ Omega Ratio Rank: 8585
Omega Ratio Rank
RWJ Calmar Ratio Rank: 8787
Calmar Ratio Rank
RWJ Martin Ratio Rank: 8383
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DFSV vs. RWJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional US Small Cap Value ETF (DFSV) and Invesco S&P SmallCap 600 Revenue ETF (RWJ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

DFSVRWJDifference
Sharpe ratioReturn per unit of total volatility
2.23
2.33

-0.10

Sortino ratioReturn per unit of downside risk
3.26
3.37

-0.11

Omega ratioGain probability vs. loss probability

1.40

1.40

0.00

Calmar ratioReturn relative to maximum drawdown

3.97

3.82

+0.14

Martin ratioReturn relative to average drawdown

13.33

12.84

+0.50

DFSV vs. RWJ - Sharpe Ratio Comparison

The current DFSV Sharpe Ratio is 2.23, which is comparable to the RWJ Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of DFSV and RWJ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

DFSV vs. RWJ - Drawdown Comparison

The maximum DFSV drawdown since its inception was -28.02%, smaller than the maximum RWJ drawdown of -55.97%. Use the drawdown chart below to compare losses from any high point for DFSV and RWJ.

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Drawdown Indicators

DFSVRWJDifference

Max Drawdown

Largest peak-to-trough decline

-28.02%

-55.97%

+27.95%

Max Drawdown (1Y)

Largest decline over 1 year

-9.39%

-11.31%

+1.92%

Max Drawdown (3Y)

Largest decline over 3 years

-28.02%

-29.29%

+1.27%

Max Drawdown (5Y)

Largest decline over 5 years

—

-29.29%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-51.33%

—

Current Drawdown

Current decline from peak

-0.84%

-1.05%

+0.21%

Average Drawdown

Average peak-to-trough decline

-6.47%

-9.16%

+2.69%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.79%

3.36%

-0.57%

Volatility

DFSV vs. RWJ - Volatility Comparison

The current volatility for Dimensional US Small Cap Value ETF (DFSV) is 3.80%, while Invesco S&P SmallCap 600 Revenue ETF (RWJ) has a volatility of 4.65%. This indicates that DFSV experiences smaller price fluctuations and is considered to be less risky than RWJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DFSVRWJDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.80%

4.65%

-0.85%

Volatility (6M)

Calculated over the trailing 6-month period

10.59%

12.32%

-1.73%

Volatility (1Y)

Calculated over the trailing 1-year period

16.71%

18.52%

-1.81%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.97%

23.48%

-1.51%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.97%

26.06%

-4.09%

DFSV vs. RWJ - Expense Ratio Comparison

DFSV has a 0.31% expense ratio, which is lower than RWJ's 0.39% expense ratio.

Dividends

DFSV vs. RWJ - Dividend Comparison

DFSV's dividend yield for the trailing twelve months is around 1.33%, more than RWJ's 0.98% yield.

PositionTTM20252024202320222021202020192018201720162015
DFSV
Dimensional US Small Cap Value ETF		1.33%1.53%1.31%1.29%0.90%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
RWJ
Invesco S&P SmallCap 600 Revenue ETF		0.98%1.11%1.15%1.34%1.02%0.61%0.89%1.22%1.44%1.11%0.60%0.74%

Frequently Asked Questions

With a correlation of 0.93, DFSV and RWJ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

RWJ has higher volatility (4.65%) compared to DFSV (3.80%). In terms of maximum drawdown, DFSV dropped -28.02% vs RWJ's -55.97%.

On 3-year performance, RWJ leads with 17.28% vs 15.48% for DFSV. On fees, DFSV is cheaper at 0.31% per year. On volatility, DFSV has been the lower-risk option at 3.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, RWJ has performed better with a 17.28% return vs 15.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

DFSV is cheaper with a 0.31% expense ratio, compared with 0.39% for RWJ.

DFSV has the higher dividend yield at 1.33%, compared with 0.98% for RWJ.

They also come from different issuers: Dimensional and Invesco. Their fees differ too: 0.31% for DFSV and 0.39% for RWJ.

RWJ currently has the higher Sharpe Ratio (2.33 vs 2.23), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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