EZM vs. RFV

Last updated Aug 2, 2026

EZM (WisdomTree U.S. MidCap Earnings Fund) and RFV (Invesco S&P MidCap 400® Pure Value ETF) are both exchange-traded funds - EZM is a Mid Cap Blend Equities fund tracking the WisdomTree U.S. MidCap Index, while RFV is a Small Cap Value Equities fund tracking the S&P Mid Cap 400 Pure Value. Both are passively managed. Over the past 10 years, EZM returned 10.91%/yr vs 12.60%/yr for RFV. Their correlation of 0.89 means they have usually moved in the same direction. EZM charges 0.38%/yr vs 0.35%/yr for RFV.

Performance

EZM vs. RFV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree U.S. MidCap Earnings Fund (EZM) and Invesco S&P MidCap 400® Pure Value ETF (RFV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EZM achieves a 14.20% return, which is significantly lower than RFV's 17.92% return. Over the past 10 years, EZM has underperformed RFV with an annualized return of 10.91%, while RFV has yielded a comparatively higher 12.60% annualized return.

EZM

• 1D: -0.07%
• 1M: 1.12%
• 6M: 10.42%
• YTD: 14.20%
• 1Y: 24.29%
• 3Y*: 12.50%
• 5Y*: 9.10%
• 10Y*: 10.91%
• ALL TIME*: 9.62%

RFV

• 1D: -1.00%
• 1M: 4.85%
• 6M: 12.70%
• YTD: 17.92%
• 1Y: 27.20%
• 3Y*: 13.08%
• 5Y*: 12.15%
• 10Y*: 12.60%
• ALL TIME*: 9.96%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EZM WisdomTree U.S. MidCap Earnings Fund	$1.17M	$1.36M	$1.30M
RFV Invesco S&P MidCap 400® Pure Value ETF	$925.25K	$998.96K	$749.36K

EZM vs. RFV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EZM WisdomTree U.S. MidCap Earnings Fund	14.20%	8.42%	10.29%	19.69%	-12.22%	31.00%	5.57%	24.48%	-12.36%	17.37%
RFV Invesco S&P MidCap 400® Pure Value ETF	17.92%	7.66%	5.63%	30.26%	-3.99%	33.02%	9.61%	24.98%	-18.56%	14.74%

Correlation

The correlation between EZM and RFV is 0.86, 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.	0.86
Correlation (3Y) Balances recent behavior with more history.	0.92
Correlation (5Y) Shows whether the relationship held over a longer period.	0.94
Correlation (10Y) Provides a long-term view across more market conditions.	0.93
Correlation (All Time) Calculated using the full available price history since Feb 23, 2007	0.89

The correlation between EZM and RFV has been stable across timeframes, ranging from 0.86 to 0.94 - a consistent structural relationship.

EZM vs. RFV - Sectors Allocation Comparison

Sectors	EZM	RFV
Financial Services	17.5%	17.8%
Industrials	15.3%	11.0%
Consumer Cyclical	14.1%	24.8%
Technology	13.5%	11.8%
Healthcare	9.6%	2.4%
Energy	6.9%	13.8%
Basic Materials	5.0%	6.6%
Real Estate	4.5%	3.8%
Consumer Defensive	4.3%	6.2%
Utilities	3.3%	-
Communication Services	1.9%	1.8%

Return for Risk

EZM vs. RFV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

EZM

EZM Risk / Return Rank: 71
EZM Sharpe Ratio Rank: 68
EZM Sortino Ratio Rank: 74
EZM Omega Ratio Rank: 66
EZM Calmar Ratio Rank: 75
EZM Martin Ratio Rank: 73

RFV

RFV Risk / Return Rank: 58
RFV Sharpe Ratio Rank: 60
RFV Sortino Ratio Rank: 65
RFV Omega Ratio Rank: 58
RFV Calmar Ratio Rank: 54
RFV Martin Ratio Rank: 52

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.

EZM vs. RFV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree U.S. MidCap Earnings Fund (EZM) and Invesco S&P MidCap 400® Pure Value ETF (RFV). 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.

	EZM	RFV	Difference
Sharpe ratio: Return per unit of total volatility	1.56	1.41	+0.15
Sortino ratio: Return per unit of downside risk	2.39	2.13	+0.25
Omega ratio: Gain probability vs. loss probability	1.28	1.25	+0.03
Calmar ratio: Return relative to maximum drawdown	2.62	1.91	+0.70
Martin ratio: Return relative to average drawdown	9.10	6.08	+3.02

EZM vs. RFV - Sharpe Ratio Comparison

The current EZM Sharpe Ratio is 1.56, which is comparable to the RFV Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of EZM and RFV, 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

EZM vs. RFV - Drawdown Comparison

The maximum EZM drawdown since its inception was -59.58%, smaller than the maximum RFV drawdown of -71.82%. Use the drawdown chart below to compare losses from any high point for EZM and RFV.

Drawdown Indicators

	EZM	RFV	Difference
Max Drawdown Largest peak-to-trough decline	-59.58%	-71.82%	+12.24%
Max Drawdown (1Y) Largest decline over 1 year	-8.70%	-12.51%	+3.81%
Max Drawdown (3Y) Largest decline over 3 years	-23.53%	-24.65%	+1.12%
Max Drawdown (5Y) Largest decline over 5 years	-23.53%	-24.65%	+1.12%
Max Drawdown (10Y) Largest decline over 10 years	-47.26%	-52.24%	+4.98%
Current Drawdown Current decline from peak	-0.77%	-1.00%	+0.23%
Average Drawdown Average peak-to-trough decline	-8.21%	-9.73%	+1.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.50%	3.94%	-1.44%

Volatility

EZM vs. RFV - Volatility Comparison

The current volatility for WisdomTree U.S. MidCap Earnings Fund (EZM) is 2.85%, while Invesco S&P MidCap 400® Pure Value ETF (RFV) has a volatility of 3.27%. This indicates that EZM experiences smaller price fluctuations and is considered to be less risky than RFV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EZM	RFV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.85%	3.27%	-0.42%
Volatility (6M) Calculated over the trailing 6-month period	10.08%	11.18%	-1.10%
Volatility (1Y) Calculated over the trailing 1-year period	14.66%	17.10%	-2.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.25%	21.77%	-1.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.27%	24.83%	-2.56%

EZM vs. RFV - Expense Ratio Comparison

EZM has a 0.38% expense ratio, which is higher than RFV's 0.35% expense ratio.

Dividends

EZM vs. RFV - Dividend Comparison

EZM's dividend yield for the trailing twelve months is around 1.21%, less than RFV's 1.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EZM WisdomTree U.S. MidCap Earnings Fund	1.21%	1.39%	1.22%	1.25%	1.57%	1.08%	1.67%	1.34%	1.57%	1.14%	1.55%	1.30%
RFV Invesco S&P MidCap 400® Pure Value ETF	1.62%	2.07%	1.31%	1.27%	2.05%	1.60%	1.52%	1.71%	1.39%	1.36%	0.88%	1.79%

Frequently Asked Questions

Can I hold both EZM and RFV in my portfolio?

EZM and RFV have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EZM or RFV?

RFV has higher volatility (3.27%) compared to EZM (2.85%). In terms of maximum drawdown, EZM dropped -59.58% vs RFV's -71.82%.

Which ETF is better, EZM or RFV?

On 10-year performance, RFV leads with 12.60% vs 10.91% for EZM. On fees, RFV is cheaper at 0.35% per year. On volatility, EZM has been the lower-risk option at 2.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EZM or RFV?

Over the 10-year period, RFV has performed better with a 12.60% return vs 10.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EZM or RFV?

RFV is cheaper with a 0.35% expense ratio, compared with 0.38% for EZM.

Which ETF pays a higher dividend yield, EZM or RFV?

RFV has the higher dividend yield at 1.62%, compared with 1.21% for EZM.

What is the main difference between EZM and RFV?

EZM is categorized as Mid Cap Blend Equities, while RFV is Small Cap Value Equities. EZM tracks WisdomTree U.S. MidCap Index, while RFV tracks S&P Mid Cap 400 Pure Value. They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.38% for EZM and 0.35% for RFV.

Which has better risk-adjusted returns?

EZM currently has the higher Sharpe Ratio (1.56 vs 1.41), 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.