DJD vs. RWK

Last updated Jul 21, 2026

DJD (Invesco Dow Jones Industrial Average Dividend ETF) and RWK (Invesco S&P MidCap 400 Revenue ETF) are both exchange-traded funds - DJD is a Large Cap Value Equities fund tracking the Dow Jones Industrial Average Yield Weighted Index, while RWK is a Small Cap Blend Equities fund tracking the S&P MidCap 400 Revenue-Weighted Index. Both are passively managed. Over the past 10 years, DJD returned 12.03%/yr vs 12.69%/yr for RWK. A 0.72 correlation means they provide meaningful diversification when combined. DJD charges 0.07%/yr vs 0.39%/yr for RWK.

Performance

DJD vs. RWK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dow Jones Industrial Average Dividend ETF (DJD) and Invesco S&P MidCap 400 Revenue ETF (RWK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DJD achieves a 12.11% return, which is significantly lower than RWK's 16.44% return. Over the past 10 years, DJD has underperformed RWK with an annualized return of 12.03%, while RWK has yielded a comparatively higher 12.69% annualized return.

DJD

• 1D: -0.60%
• 1M: 1.48%
• 6M: 9.44%
• YTD: 12.11%
• 1Y: 21.94%
• 3Y*: 16.77%
• 5Y*: 11.00%
• 10Y*: 12.03%
• ALL TIME*: 12.32%

RWK

• 1D: -0.93%
• 1M: 1.82%
• 6M: 10.32%
• YTD: 16.44%
• 1Y: 22.46%
• 3Y*: 15.35%
• 5Y*: 12.20%
• 10Y*: 12.69%
• ALL TIME*: 11.47%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DJD vs. RWK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DJD Invesco Dow Jones Industrial Average Dividend ETF	12.11%	15.83%	13.66%	9.41%	-0.73%	22.40%	0.87%	22.00%	0.03%	21.65%
RWK Invesco S&P MidCap 400 Revenue ETF	16.44%	10.27%	11.94%	23.76%	-8.19%	34.31%	11.06%	28.20%	-14.65%	13.39%

Correlation

The correlation between DJD and RWK is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since Dec 16, 2015	0.72

The correlation between DJD and RWK shifts across timeframes, from 0.61 (1 year) to 0.75 (5 years), reflecting how their relationship changes across market environments.

DJD vs. RWK - Sectors Allocation Comparison

Sectors	DJD	RWK
Healthcare	23.9%	4.7%
Financial Services	16.8%	13.0%
Technology	16.5%	11.8%
Consumer Cyclical	12.3%	21.0%
Consumer Defensive	11.5%	11.1%
Industrials	8.1%	23.3%
Energy	6.5%	4.9%
Communication Services	2.7%	1.4%
Basic Materials	1.9%	4.4%
Real Estate	-	2.9%
Utilities	-	1.6%

Return for Risk

DJD vs. RWK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DJD

DJD Risk / Return Rank: 85
DJD Sharpe Ratio Rank: 86
DJD Sortino Ratio Rank: 89
DJD Omega Ratio Rank: 82
DJD Calmar Ratio Rank: 89
DJD Martin Ratio Rank: 81

RWK

RWK Risk / Return Rank: 54
RWK Sharpe Ratio Rank: 53
RWK Sortino Ratio Rank: 59
RWK Omega Ratio Rank: 51
RWK Calmar Ratio Rank: 53
RWK Martin Ratio Rank: 52

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DJD vs. RWK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dow Jones Industrial Average Dividend ETF (DJD) and Invesco S&P MidCap 400 Revenue ETF (RWK). 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.

	DJD	RWK	Difference
Sharpe ratio: Return per unit of total volatility	2.12	1.37	+0.75
Sortino ratio: Return per unit of downside risk	3.19	2.12	+1.08
Omega ratio: Gain probability vs. loss probability	1.37	1.24	+0.12
Calmar ratio: Return relative to maximum drawdown	3.91	2.03	+1.88
Martin ratio: Return relative to average drawdown	11.44	6.54	+4.90

DJD vs. RWK - Sharpe Ratio Comparison

The current DJD Sharpe Ratio is 2.12, which is higher than the RWK Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of DJD and RWK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DJD vs. RWK - Drawdown Comparison

The maximum DJD drawdown since its inception was -34.66%, smaller than the maximum RWK drawdown of -56.49%. Use the drawdown chart below to compare losses from any high point for DJD and RWK.

Drawdown Indicators

	DJD	RWK	Difference
Max Drawdown Largest peak-to-trough decline	-34.66%	-56.49%	+21.83%
Max Drawdown (1Y) Largest decline over 1 year	-5.64%	-11.14%	+5.50%
Max Drawdown (3Y) Largest decline over 3 years	-12.28%	-24.58%	+12.30%
Max Drawdown (5Y) Largest decline over 5 years	-19.94%	-24.58%	+4.64%
Max Drawdown (10Y) Largest decline over 10 years	-34.66%	-46.20%	+11.54%
Current Drawdown Current decline from peak	-2.47%	-1.68%	-0.79%
Average Drawdown Average peak-to-trough decline	-3.71%	-7.51%	+3.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	3.45%	-1.53%

Volatility

DJD vs. RWK - Volatility Comparison

Invesco Dow Jones Industrial Average Dividend ETF (DJD) has a higher volatility of 3.49% compared to Invesco S&P MidCap 400 Revenue ETF (RWK) at 3.12%. This indicates that DJD's price experiences larger fluctuations and is considered to be riskier than RWK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DJD	RWK	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.49%	3.12%	+0.37%
Volatility (6M) Calculated over the trailing 6-month period	7.91%	11.96%	-4.05%
Volatility (1Y) Calculated over the trailing 1-year period	10.42%	16.49%	-6.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.35%	20.94%	-7.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.57%	22.88%	-6.31%

DJD vs. RWK - Expense Ratio Comparison

DJD has a 0.07% expense ratio, which is lower than RWK's 0.39% expense ratio.

Dividends

DJD vs. RWK - Dividend Comparison

DJD's dividend yield for the trailing twelve months is around 2.48%, more than RWK's 1.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DJD Invesco Dow Jones Industrial Average Dividend ETF	2.48%	2.62%	3.00%	3.49%	3.16%	2.82%	3.47%	2.80%	2.66%	2.75%	2.46%	0.08%
RWK Invesco S&P MidCap 400 Revenue ETF	1.02%	1.25%	1.11%	1.05%	1.18%	0.85%	0.96%	1.09%	1.22%	0.99%	1.30%	0.92%

Frequently Asked Questions

Can I hold both DJD and RWK in my portfolio?

DJD and RWK have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DJD or RWK?

DJD has higher volatility (3.49%) compared to RWK (3.12%). In terms of maximum drawdown, DJD dropped -34.66% vs RWK's -56.49%.

Which ETF is better, DJD or RWK?

On 10-year performance, RWK leads with 12.69% vs 12.03% for DJD. On fees, DJD is cheaper at 0.07% per year. On volatility, RWK has been the lower-risk option at 3.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DJD or RWK?

Over the 10-year period, RWK has performed better with a 12.69% return vs 12.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DJD or RWK?

DJD is cheaper with a 0.07% expense ratio, compared with 0.39% for RWK.

Which ETF pays a higher dividend yield, DJD or RWK?

DJD has the higher dividend yield at 2.48%, compared with 1.02% for RWK.

What is the main difference between DJD and RWK?

DJD is categorized as Large Cap Value Equities, while RWK is Small Cap Blend Equities. DJD tracks Dow Jones Industrial Average Yield Weighted Index, while RWK tracks S&P MidCap 400 Revenue-Weighted Index. Their fees differ too: 0.07% for DJD and 0.39% for RWK.

Which has better risk-adjusted returns?

DJD currently has the higher Sharpe Ratio (2.12 vs 1.37), 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.