IVW vs. RPG

Last updated Jun 24, 2026

IVW (iShares S&P 500 Growth ETF) and RPG (Invesco S&P 500 Pure Growth ETF) are both Large Cap Growth Equities funds - IVW tracks the S&P 500 Growth Index while RPG tracks the S&P 500/Citigroup Pure Growth Index. Both are passively managed. Over the past 10 years, IVW returned 17.93%/yr vs 15.14%/yr for RPG. Their correlation of 0.90 suggests significant overlap in exposure. IVW charges 0.18%/yr vs 0.35%/yr for RPG.

Performance

IVW vs. RPG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares S&P 500 Growth ETF (IVW) and Invesco S&P 500 Pure Growth ETF (RPG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IVW achieves a 8.67% return, which is significantly lower than RPG's 30.31% return. Over the past 10 years, IVW has outperformed RPG with an annualized return of 17.93%, while RPG has yielded a comparatively lower 15.14% annualized return.

IVW

• 1D: -2.32%
• 1M: -2.04%
• YTD: 8.67%
• 6M: 7.44%
• 1Y: 26.74%
• 3Y*: 25.36%
• 5Y*: 13.97%
• 10Y*: 17.93%

RPG

• 1D: -4.60%
• 1M: 5.48%
• YTD: 30.31%
• 6M: 27.62%
• 1Y: 38.51%
• 3Y*: 27.72%
• 5Y*: 11.59%
• 10Y*: 15.14%

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

IVW vs. RPG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IVW iShares S&P 500 Growth ETF	8.67%	21.95%	35.82%	29.83%	-29.50%	31.80%	33.19%	30.77%	-0.21%	27.21%
RPG Invesco S&P 500 Pure Growth ETF	30.31%	13.41%	28.23%	8.04%	-27.55%	29.40%	29.34%	28.34%	-4.53%	26.20%

Correlation

The correlation between IVW and RPG is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Mar 7, 2006	0.90

The correlation between IVW and RPG has been stable across timeframes, ranging from 0.81 to 0.90 - a consistent structural relationship.

IVW vs. RPG - Sectors Allocation Comparison

Sectors	IVW	RPG
Technology	53.0%	46.9%
Communication Services	15.8%	5.4%
Financial Services	8.6%	5.3%
Consumer Cyclical	8.4%	14.7%
Healthcare	5.7%	6.4%
Industrials	5.3%	14.0%
Utilities	1.2%	2.4%
Consumer Defensive	1.0%	1.1%
Real Estate	0.5%	1.0%
Basic Materials	0.3%	1.2%
Energy	0.1%	1.6%

Return for Risk

IVW vs. RPG — Risk / Return Rank

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

IVW

IVW Risk / Return Rank: 45
IVW Sharpe Ratio Rank: 47
IVW Sortino Ratio Rank: 44
IVW Omega Ratio Rank: 44
IVW Calmar Ratio Rank: 41
IVW Martin Ratio Rank: 48

RPG

RPG Risk / Return Rank: 61
RPG Sharpe Ratio Rank: 55
RPG Sortino Ratio Rank: 52
RPG Omega Ratio Rank: 53
RPG Calmar Ratio Rank: 72
RPG Martin Ratio Rank: 73

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.

IVW vs. RPG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 Growth ETF (IVW) and Invesco S&P 500 Pure Growth ETF (RPG). 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.

	IVW	RPG	Difference
Sharpe ratio: Return per unit of total volatility	1.58	1.75	-0.18
Sortino ratio: Return per unit of downside risk	2.16	2.37	-0.21
Omega ratio: Gain probability vs. loss probability	1.28	1.31	-0.03
Calmar ratio: Return relative to maximum drawdown	1.95	3.49	-1.54
Martin ratio: Return relative to average drawdown	7.75	13.16	-5.41

IVW vs. RPG - Sharpe Ratio Comparison

The current IVW Sharpe Ratio is 1.58, which is comparable to the RPG Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of IVW and RPG, 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

IVW vs. RPG - Drawdown Comparison

The maximum IVW drawdown since its inception was -57.33%, which is greater than RPG's maximum drawdown of -53.27%. Use the drawdown chart below to compare losses from any high point for IVW and RPG.

Drawdown Indicators

	IVW	RPG	Difference
Max Drawdown Largest peak-to-trough decline	-57.33%	-53.27%	-4.06%
Max Drawdown (1Y) Largest decline over 1 year	-13.75%	-11.08%	-2.67%
Max Drawdown (3Y) Largest decline over 3 years	-22.15%	-24.75%	+2.60%
Max Drawdown (5Y) Largest decline over 5 years	-32.72%	-35.59%	+2.87%
Max Drawdown (10Y) Largest decline over 10 years	-32.72%	-36.58%	+3.86%
Current Drawdown Current decline from peak	-5.48%	-4.60%	-0.88%
Average Drawdown Average peak-to-trough decline	-17.59%	-8.83%	-8.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.46%	2.93%	+0.53%

Volatility

IVW vs. RPG - Volatility Comparison

The current volatility for iShares S&P 500 Growth ETF (IVW) is 7.23%, while Invesco S&P 500 Pure Growth ETF (RPG) has a volatility of 11.10%. This indicates that IVW experiences smaller price fluctuations and is considered to be less risky than RPG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IVW	RPG	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.23%	11.10%	-3.87%
Volatility (6M) Calculated over the trailing 6-month period	13.82%	19.02%	-5.20%
Volatility (1Y) Calculated over the trailing 1-year period	17.06%	22.09%	-5.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.35%	23.86%	-2.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.70%	22.90%	-2.20%

IVW vs. RPG - Expense Ratio Comparison

IVW has a 0.18% expense ratio, which is lower than RPG's 0.35% expense ratio.

Dividends

IVW vs. RPG - Dividend Comparison

IVW's dividend yield for the trailing twelve months is around 0.37%, more than RPG's 0.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVW iShares S&P 500 Growth ETF	0.37%	0.40%	0.43%	1.03%	0.92%	0.46%	0.82%	1.63%	1.28%	1.30%	1.51%	1.51%
RPG Invesco S&P 500 Pure Growth ETF	0.15%	0.24%	0.25%	1.44%	0.74%	0.00%	0.46%	0.83%	0.47%	0.56%	0.43%	0.73%

Frequently Asked Questions

Can I hold both IVW and RPG in my portfolio?

IVW and RPG have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IVW or RPG?

RPG has higher volatility (11.10%) compared to IVW (7.23%). In terms of maximum drawdown, IVW dropped -57.33% vs RPG's -53.27%.

Which ETF is better, IVW or RPG?

On 10-year performance, IVW leads with 17.93% vs 15.14% for RPG. On fees, IVW is cheaper at 0.18% per year. On volatility, IVW has been the lower-risk option at 7.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IVW or RPG?

Over the 10-year period, IVW has performed better with a 17.93% return vs 15.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IVW or RPG?

IVW is cheaper with a 0.18% expense ratio, compared with 0.35% for RPG.

Which ETF pays a higher dividend yield, IVW or RPG?

IVW has the higher dividend yield at 0.37%, compared with 0.15% for RPG.

What is the main difference between IVW and RPG?

IVW tracks S&P 500 Growth Index, while RPG tracks S&P 500/Citigroup Pure Growth Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.18% for IVW and 0.35% for RPG.

Which has better risk-adjusted returns?

RPG currently has the higher Sharpe Ratio (1.75 vs 1.58), 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.