PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
GRPM vs. GRPZ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GRPM vs. GRPZ

Last updated Aug 2, 2026
Documentation

GRPM (Invesco S&P MidCap 400® GARP ETF) and GRPZ (Invesco S&P Smallcap 600 GARP ETF) are both exchange-traded funds - GRPM is a Mid Cap Blend Equities fund tracking the S&P MidCap 400® GARP Index, while GRPZ is a Small Cap Growth Equities fund tracking the S&P SmallCap 600 GARP Index. Both are passively managed. Over the past year, GRPM returned 21.04% vs 31.76% for GRPZ. Their correlation of 0.88 means they have usually moved in the same direction. Both charge a 0.35% expense ratio.

Performance

GRPM vs. GRPZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P MidCap 400® GARP ETF (GRPM) and Invesco S&P Smallcap 600 GARP ETF (GRPZ). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, GRPM achieves a 13.17% return, which is significantly lower than GRPZ's 22.54% return.

GRPM

1D
-0.35%
1M
2.06%
6M
11.71%
YTD
13.17%
1Y
21.04%
3Y*
13.73%
5Y*
9.29%
10Y*
11.33%
ALL TIME*
11.48%

GRPZ

1D
-0.32%
1M
0.21%
6M
15.61%
YTD
22.54%
1Y
31.76%
3Y*
—
5Y*
—
10Y*
—
ALL TIME*
12.48%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

GRPM

Invesco S&P MidCap 400® GARP ETF
$1.43M$1.18M$1.33M

GRPZ

Invesco S&P Smallcap 600 GARP ETF
$15.52K$24.90K$26.26K

GRPM vs. GRPZ - Yearly Performance Comparison

2026 (YTD)20252024
GRPM
Invesco S&P MidCap 400® GARP ETF		13.17%7.81%-3.69%
GRPZ
Invesco S&P Smallcap 600 GARP ETF		22.54%3.09%4.27%

Correlation

The correlation between GRPM and GRPZ is 0.85, 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.

0.85

Correlation (All Time)
Calculated using the full available price history since Mar 27, 2024

0.88

The correlation between GRPM and GRPZ has been stable across timeframes, ranging from 0.85 to 0.88 - a consistent structural relationship.

GRPM vs. GRPZ - Sectors Allocation Comparison

Sectors
GRPM
GRPZ

Financial Services

23.3%
26.4%

Technology

20.8%
13.2%

Healthcare

19.0%
18.8%

Consumer Cyclical

13.1%
9.2%

Industrials

12.3%
12.3%

Energy

5.0%
3.4%

Basic Materials

3.8%
0.9%

Consumer Defensive

2.6%
9.5%

Communication Services

-

3.2%

Real Estate

-

4.0%

Utilities

-

-

Financial Services

GRPM
23.3%
GRPZ
26.4%

Technology

GRPM
20.8%
GRPZ
13.2%

Healthcare

GRPM
19.0%
GRPZ
18.8%

Consumer Cyclical

GRPM
13.1%
GRPZ
9.2%

Industrials

GRPM
12.3%
GRPZ
12.3%

Energy

GRPM
5.0%
GRPZ
3.4%

Basic Materials

GRPM
3.8%
GRPZ
0.9%

Consumer Defensive

GRPM
2.6%
GRPZ
9.5%

Communication Services

GRPM

-

GRPZ
3.2%

Real Estate

GRPM

-

GRPZ
4.0%

Utilities

GRPM

-

GRPZ

-

Compare stocks, funds, or ETFs

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

Invesco S&P MidCap 400® GARP ETF

Invesco S&P Smallcap 600 GARP ETF

Often compared with GRPM:
GRPM vs. XMHQGRPM vs. VOGRPM vs. FDVLXGRPM vs. AVUVGRPM vs. AAPLGRPM vs. EQWLGRPM vs. EUSA
Often compared with GRPZ:
GRPZ vs. GARPGRPZ vs. SPHQGRPZ vs. DESGRPZ vs. VOOGRPZ vs. IWMGRPZ vs. VOTGRPZ vs. VB

Return for Risk

GRPM vs. GRPZ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
GRPM
GRPM Risk / Return Rank: 5858
Overall Rank
GRPM Sharpe Ratio Rank: 5353
Sharpe Ratio Rank
GRPM Sortino Ratio Rank: 5353
Sortino Ratio Rank
GRPM Omega Ratio Rank: 4949
Omega Ratio Rank
GRPM Calmar Ratio Rank: 7474
Calmar Ratio Rank
GRPM Martin Ratio Rank: 6464
Martin Ratio Rank
GRPZ
GRPZ Risk / Return Rank: 7575
Overall Rank
GRPZ Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
GRPZ Sortino Ratio Rank: 8080
Sortino Ratio Rank
GRPZ Omega Ratio Rank: 6868
Omega Ratio Rank
GRPZ Calmar Ratio Rank: 8383
Calmar Ratio Rank
GRPZ Martin Ratio Rank: 7272
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.

GRPM vs. GRPZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P MidCap 400® GARP ETF (GRPM) and Invesco S&P Smallcap 600 GARP ETF (GRPZ). 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.

GRPMGRPZDifference
Sharpe ratioReturn per unit of total volatility
1.26
1.69

-0.43

Sortino ratioReturn per unit of downside risk
1.88
2.59

-0.71

Omega ratioGain probability vs. loss probability

1.22

1.29

-0.07

Calmar ratioReturn relative to maximum drawdown

2.58

3.10

-0.52

Martin ratioReturn relative to average drawdown

7.67

8.97

-1.30

GRPM vs. GRPZ - Sharpe Ratio Comparison

The current GRPM Sharpe Ratio is 1.26, which is comparable to the GRPZ Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of GRPM and GRPZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

GRPM vs. GRPZ - Drawdown Comparison

The maximum GRPM drawdown since its inception was -43.12%, which is greater than GRPZ's maximum drawdown of -27.87%. Use the drawdown chart below to compare losses from any high point for GRPM and GRPZ.

Loading charts...

Drawdown Indicators

GRPMGRPZDifference

Max Drawdown

Largest peak-to-trough decline

-43.12%

-27.87%

-15.25%

Max Drawdown (1Y)

Largest decline over 1 year

-7.62%

-9.53%

+1.91%

Max Drawdown (3Y)

Largest decline over 3 years

-28.09%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-28.09%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-43.12%

—

—

Current Drawdown

Current decline from peak

-1.19%

-1.71%

+0.52%

Average Drawdown

Average peak-to-trough decline

-5.66%

-6.58%

+0.92%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.56%

3.29%

-0.73%

Volatility

GRPM vs. GRPZ - Volatility Comparison

The current volatility for Invesco S&P MidCap 400® GARP ETF (GRPM) is 4.04%, while Invesco S&P Smallcap 600 GARP ETF (GRPZ) has a volatility of 4.45%. This indicates that GRPM experiences smaller price fluctuations and is considered to be less risky than GRPZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

GRPMGRPZDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.04%

4.45%

-0.41%

Volatility (6M)

Calculated over the trailing 6-month period

10.51%

11.74%

-1.23%

Volatility (1Y)

Calculated over the trailing 1-year period

15.65%

17.55%

-1.90%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.80%

20.81%

-0.01%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.19%

20.81%

+1.38%

GRPM vs. GRPZ - Expense Ratio Comparison

Both GRPM and GRPZ have an expense ratio of 0.35%.

Dividends

GRPM vs. GRPZ - Dividend Comparison

GRPM's dividend yield for the trailing twelve months is around 0.70%, less than GRPZ's 0.88% yield.

PositionTTM20252024202320222021202020192018201720162015
GRPM
Invesco S&P MidCap 400® GARP ETF		0.70%1.19%0.95%0.96%1.28%0.92%1.16%1.25%1.50%1.14%1.00%1.43%
GRPZ
Invesco S&P Smallcap 600 GARP ETF		0.88%0.97%0.73%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

GRPM and GRPZ have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

GRPZ has higher volatility (4.45%) compared to GRPM (4.04%). In terms of maximum drawdown, GRPM dropped -43.12% vs GRPZ's -27.87%.

On 1-year performance, GRPZ leads with 31.76% vs 21.04% for GRPM. Both ETFs have the same 0.35% expense ratio. On volatility, GRPM has been the lower-risk option at 4.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 1-year period, GRPZ has performed better with a 31.76% return vs 21.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

GRPM and GRPZ have the same expense ratio: 0.35% per year.

GRPZ has the higher dividend yield at 0.88%, compared with 0.70% for GRPM.

GRPM is categorized as Mid Cap Blend Equities, while GRPZ is Small Cap Growth Equities. GRPM tracks S&P MidCap 400® GARP Index, while GRPZ tracks S&P SmallCap 600 GARP Index.

GRPZ currently has the higher Sharpe Ratio (1.69 vs 1.26), 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.

Portfolio Optimizer

Find the right allocation for GRPM and GRPZ

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer