IVOV vs. RDIV

Last updated Jun 4, 2026

IVOV (Vanguard S&P Mid-Cap 400 Value ETF) and RDIV (Invesco S&P Ultra Dividend Revenue ETF) are both Mid Cap Value Equities funds - IVOV tracks the S&P MidCap 400 Value Index while RDIV tracks the S&P 900 Dividend Revenue-Weighted Index. Both are passively managed. Over the past 10 years, IVOV returned 10.41%/yr vs 10.95%/yr for RDIV. Their correlation of 0.82 suggests significant overlap in exposure. IVOV charges 0.10%/yr vs 0.39%/yr for RDIV.

Performance

IVOV vs. RDIV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard S&P Mid-Cap 400 Value ETF (IVOV) and Invesco S&P Ultra Dividend Revenue ETF (RDIV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IVOV achieves a 8.98% return, which is significantly lower than RDIV's 11.95% return. Over the past 10 years, IVOV has underperformed RDIV with an annualized return of 10.41%, while RDIV has yielded a comparatively higher 10.95% annualized return.

IVOV

• 1D: -0.30%
• 1M: 1.86%
• YTD: 8.98%
• 6M: 9.21%
• 1Y: 20.80%
• 3Y*: 13.95%
• 5Y*: 7.51%
• 10Y*: 10.41%

RDIV

• 1D: -1.30%
• 1M: 2.29%
• YTD: 11.95%
• 6M: 11.03%
• 1Y: 27.04%
• 3Y*: 19.26%
• 5Y*: 10.04%
• 10Y*: 10.95%

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

IVOV vs. RDIV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IVOV Vanguard S&P Mid-Cap 400 Value ETF	8.98%	7.61%	11.53%	15.38%	-7.20%	30.50%	3.70%	25.91%	-12.13%	12.22%
RDIV Invesco S&P Ultra Dividend Revenue ETF	11.95%	12.36%	15.17%	4.66%	7.16%	29.12%	-9.31%	22.62%	-4.78%	11.63%

Correlation

The correlation between IVOV and RDIV is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Oct 2, 2013	0.82

The correlation between IVOV and RDIV shifts across timeframes, from 0.74 (1 year) to 0.85 (10 years), reflecting how their relationship changes across market environments.

IVOV vs. RDIV - Sectors Allocation Comparison

Sectors	IVOV	RDIV
Financial Services	21.9%	18.0%
Industrials	18.8%	-
Consumer Cyclical	13.5%	9.5%
Real Estate	9.6%	8.0%
Technology	9.2%	5.1%
Energy	7.4%	28.8%
Basic Materials	6.0%	0.5%
Consumer Defensive	5.5%	15.9%
Utilities	4.2%	6.4%
Healthcare	3.5%	7.8%
Communication Services	0.5%	-

Return for Risk

IVOV vs. RDIV — Risk / Return Rank

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

IVOV

IVOV Risk / Return Rank: 39
IVOV Sharpe Ratio Rank: 38
IVOV Sortino Ratio Rank: 40
IVOV Omega Ratio Rank: 36
IVOV Calmar Ratio Rank: 40
IVOV Martin Ratio Rank: 42

RDIV

RDIV Risk / Return Rank: 71
RDIV Sharpe Ratio Rank: 60
RDIV Sortino Ratio Rank: 65
RDIV Omega Ratio Rank: 57
RDIV Calmar Ratio Rank: 90
RDIV Martin Ratio Rank: 81

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.

IVOV vs. RDIV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Mid-Cap 400 Value ETF (IVOV) and Invesco S&P Ultra Dividend Revenue ETF (RDIV). 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.

	IVOV	RDIV	Difference
Sharpe ratio: Return per unit of total volatility	1.37	2.06	-0.68
Sortino ratio: Return per unit of downside risk	2.08	3.07	-0.99
Omega ratio: Gain probability vs. loss probability	1.24	1.36	-0.12
Calmar ratio: Return relative to maximum drawdown	1.97	5.61	-3.63
Martin ratio: Return relative to average drawdown	6.80	16.50	-9.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IVOV vs. RDIV - Sharpe Ratio Comparison

The current IVOV Sharpe Ratio is 1.37, which is lower than the RDIV Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of IVOV and RDIV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IVOV	RDIV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.37	2.06	-0.68
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	0.58	-0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	0.50	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.55	+0.03

Drawdowns

IVOV vs. RDIV - Drawdown Comparison

The maximum IVOV drawdown since its inception was -45.99%, smaller than the maximum RDIV drawdown of -49.97%. Use the drawdown chart below to compare losses from any high point for IVOV and RDIV.

Drawdown Indicators

	IVOV	RDIV	Difference
Max Drawdown Largest peak-to-trough decline	-45.99%	-49.97%	+3.98%
Max Drawdown (1Y) Largest decline over 1 year	-10.58%	-4.84%	-5.74%
Max Drawdown (3Y) Largest decline over 3 years	-22.61%	-17.91%	-4.70%
Max Drawdown (5Y) Largest decline over 5 years	-22.61%	-24.89%	+2.28%
Max Drawdown (10Y) Largest decline over 10 years	-45.99%	-49.97%	+3.98%
Current Drawdown Current decline from peak	-0.31%	-1.65%	+1.34%
Average Drawdown Average peak-to-trough decline	-5.43%	-5.86%	+0.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.07%	1.65%	+1.42%

Volatility

IVOV vs. RDIV - Volatility Comparison

Vanguard S&P Mid-Cap 400 Value ETF (IVOV) has a higher volatility of 4.07% compared to Invesco S&P Ultra Dividend Revenue ETF (RDIV) at 3.46%. This indicates that IVOV's price experiences larger fluctuations and is considered to be riskier than RDIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IVOV	RDIV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.07%	3.46%	+0.61%
Volatility (6M) Calculated over the trailing 6-month period	10.61%	8.62%	+1.99%
Volatility (1Y) Calculated over the trailing 1-year period	15.27%	13.23%	+2.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.48%	17.53%	+1.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.73%	21.89%	-0.16%

IVOV vs. RDIV - Expense Ratio Comparison

IVOV has a 0.10% expense ratio, which is lower than RDIV's 0.39% expense ratio.

Dividends

IVOV vs. RDIV - Dividend Comparison

IVOV's dividend yield for the trailing twelve months is around 1.67%, less than RDIV's 3.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVOV Vanguard S&P Mid-Cap 400 Value ETF	1.67%	1.82%	1.74%	1.52%	1.97%	1.78%	2.42%	1.75%	1.87%	1.55%	1.51%	1.66%
RDIV Invesco S&P Ultra Dividend Revenue ETF	3.66%	3.94%	4.08%	3.93%	3.44%	3.31%	4.93%	3.84%	4.32%	4.26%	2.20%	4.49%

Frequently Asked Questions

Can I hold both IVOV and RDIV in my portfolio?

IVOV and RDIV have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IVOV or RDIV?

IVOV has higher volatility (4.07%) compared to RDIV (3.46%). In terms of maximum drawdown, IVOV dropped -45.99% vs RDIV's -49.97%.

Which ETF is better, IVOV or RDIV?

On 10-year performance, RDIV leads with 10.95% vs 10.41% for IVOV. On fees, IVOV is cheaper at 0.10% per year. On volatility, RDIV has been the lower-risk option at 3.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IVOV or RDIV?

Over the 10-year period, RDIV has performed better with a 10.95% return vs 10.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IVOV or RDIV?

IVOV is cheaper with a 0.10% expense ratio, compared with 0.39% for RDIV.

Which ETF pays a higher dividend yield, IVOV or RDIV?

RDIV has the higher dividend yield at 3.66%, compared with 1.67% for IVOV.

What is the main difference between IVOV and RDIV?

IVOV tracks S&P MidCap 400 Value Index, while RDIV tracks S&P 900 Dividend Revenue-Weighted Index. They also come from different issuers: Vanguard and Invesco. Their fees differ too: 0.10% for IVOV and 0.39% for RDIV.

Which has better risk-adjusted returns?

RDIV currently has the higher Sharpe Ratio (2.06 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.