RDIV vs. VOE

Last updated Aug 2, 2026

RDIV (Invesco S&P Ultra Dividend Revenue ETF) and VOE (Vanguard Mid-Cap Value ETF) are both Mid Cap Value Equities funds - RDIV tracks the S&P 900 Dividend Revenue-Weighted Index while VOE tracks the CRSP US Mid Cap Value Index. Both are passively managed. Over the past 10 years, RDIV returned 11.30%/yr vs 10.86%/yr for VOE. Their correlation of 0.85 means they have usually moved in the same direction. RDIV charges 0.39%/yr vs 0.05%/yr for VOE.

Performance

RDIV vs. VOE - Performance Comparison

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

Returns By Period

In the year-to-date period, RDIV achieves a 22.74% return, which is significantly higher than VOE's 16.60% return. Both investments have delivered pretty close results over the past 10 years, with RDIV having a 11.30% annualized return and VOE not far behind at 10.86%.

RDIV

• 1D: -0.32%
• 1M: 6.60%
• 6M: 17.44%
• YTD: 22.74%
• 1Y: 36.48%
• 3Y*: 19.58%
• 5Y*: 13.86%
• 10Y*: 11.30%
• ALL TIME*: 11.74%

VOE

• 1D: -0.23%
• 1M: 2.29%
• 6M: 11.88%
• YTD: 16.60%
• 1Y: 26.06%
• 3Y*: 15.27%
• 5Y*: 10.14%
• 10Y*: 10.86%
• ALL TIME*: 9.56%

*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)
RDIV Invesco S&P Ultra Dividend Revenue ETF	$3.34M	$2.84M	$4.35M
VOE Vanguard Mid-Cap Value ETF	$50.20M	$55.46M	$54.15M

RDIV vs. VOE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RDIV Invesco S&P Ultra Dividend Revenue ETF	22.74%	12.36%	15.17%	4.66%	7.16%	29.12%	-9.31%	22.62%	-4.78%	11.63%
VOE Vanguard Mid-Cap Value ETF	16.60%	12.08%	14.00%	9.85%	-7.97%	28.78%	2.65%	27.85%	-12.48%	17.07%

Correlation

The correlation between RDIV and VOE is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.76
Correlation (3Y) Balances recent behavior with more history.	0.86
Correlation (5Y) Shows whether the relationship held over a longer period.	0.88
Correlation (10Y) Provides a long-term view across more market conditions.	0.87
Correlation (All Time) Calculated using the full available price history since Oct 1, 2013	0.85

The correlation between RDIV and VOE shifts across timeframes, from 0.76 (1 year) to 0.88 (5 years), reflecting how their relationship changes across market environments.

RDIV vs. VOE - Sectors Allocation Comparison

Sectors	RDIV	VOE
Financial Services	19.2%	18.7%
Energy	17.0%	11.7%
Consumer Defensive	15.4%	7.6%
Consumer Cyclical	14.5%	5.9%
Communication Services	8.0%	1.5%
Real Estate	7.6%	5.8%
Healthcare	6.8%	7.2%
Utilities	6.4%	12.6%
Technology	5.1%	8.1%
Basic Materials	0.5%	6.7%
Industrials	-	13.8%

Return for Risk

RDIV vs. VOE — Risk / Return Rank

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

RDIV

RDIV Risk / Return Rank: 95
RDIV Sharpe Ratio Rank: 94
RDIV Sortino Ratio Rank: 94
RDIV Omega Ratio Rank: 92
RDIV Calmar Ratio Rank: 97
RDIV Martin Ratio Rank: 96

VOE

VOE Risk / Return Rank: 89
VOE Sharpe Ratio Rank: 89
VOE Sortino Ratio Rank: 90
VOE Omega Ratio Rank: 87
VOE Calmar Ratio Rank: 88
VOE Martin Ratio Rank: 89

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.

RDIV vs. VOE - Risk-Adjusted Trends Comparison

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

	RDIV	VOE	Difference
Sharpe ratio: Return per unit of total volatility	2.61	2.20	+0.41
Sortino ratio: Return per unit of downside risk	3.77	3.17	+0.60
Omega ratio: Gain probability vs. loss probability	1.45	1.39	+0.06
Calmar ratio: Return relative to maximum drawdown	7.24	3.60	+3.64
Martin ratio: Return relative to average drawdown	22.00	13.97	+8.04

RDIV vs. VOE - Sharpe Ratio Comparison

The current RDIV Sharpe Ratio is 2.61, which is comparable to the VOE Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of RDIV and VOE, 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

RDIV vs. VOE - Drawdown Comparison

The maximum RDIV drawdown since its inception was -49.97%, smaller than the maximum VOE drawdown of -61.50%. Use the drawdown chart below to compare losses from any high point for RDIV and VOE.

Drawdown Indicators

	RDIV	VOE	Difference
Max Drawdown Largest peak-to-trough decline	-49.97%	-61.50%	+11.53%
Max Drawdown (1Y) Largest decline over 1 year	-4.84%	-6.93%	+2.09%
Max Drawdown (3Y) Largest decline over 3 years	-17.91%	-18.45%	+0.54%
Max Drawdown (5Y) Largest decline over 5 years	-24.89%	-19.70%	-5.19%
Max Drawdown (10Y) Largest decline over 10 years	-49.97%	-43.18%	-6.79%
Current Drawdown Current decline from peak	-1.46%	-1.31%	-0.15%
Average Drawdown Average peak-to-trough decline	-5.80%	-8.29%	+2.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.59%	1.79%	-0.20%

Volatility

RDIV vs. VOE - Volatility Comparison

Invesco S&P Ultra Dividend Revenue ETF (RDIV) has a higher volatility of 4.00% compared to Vanguard Mid-Cap Value ETF (VOE) at 2.70%. This indicates that RDIV's price experiences larger fluctuations and is considered to be riskier than VOE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RDIV	VOE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.00%	2.70%	+1.30%
Volatility (6M) Calculated over the trailing 6-month period	9.25%	8.10%	+1.15%
Volatility (1Y) Calculated over the trailing 1-year period	13.49%	11.36%	+2.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.41%	15.89%	+1.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.85%	18.73%	+3.12%

RDIV vs. VOE - Expense Ratio Comparison

RDIV has a 0.39% expense ratio, which is higher than VOE's 0.05% expense ratio.

Dividends

RDIV vs. VOE - Dividend Comparison

RDIV's dividend yield for the trailing twelve months is around 3.45%, more than VOE's 1.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RDIV Invesco S&P Ultra Dividend Revenue ETF	3.45%	3.94%	4.08%	3.93%	3.44%	3.31%	4.93%	3.84%	4.32%	4.26%	2.20%	4.49%
VOE Vanguard Mid-Cap Value ETF	1.82%	2.10%	2.11%	2.27%	2.27%	1.78%	2.36%	2.05%	2.75%	1.86%	1.92%	2.05%

Frequently Asked Questions

Can I hold both RDIV and VOE in my portfolio?

RDIV and VOE have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RDIV or VOE?

RDIV has higher volatility (4.00%) compared to VOE (2.70%). In terms of maximum drawdown, RDIV dropped -49.97% vs VOE's -61.50%.

Which ETF is better, RDIV or VOE?

On 10-year performance, RDIV leads with 11.30% vs 10.86% for VOE. On fees, VOE is cheaper at 0.05% per year. On volatility, VOE has been the lower-risk option at 2.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RDIV or VOE?

Over the 10-year period, RDIV has performed better with a 11.30% return vs 10.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RDIV or VOE?

VOE is cheaper with a 0.05% expense ratio, compared with 0.39% for RDIV.

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

RDIV has the higher dividend yield at 3.45%, compared with 1.82% for VOE.

What is the main difference between RDIV and VOE?

RDIV tracks S&P 900 Dividend Revenue-Weighted Index, while VOE tracks CRSP US Mid Cap Value Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.39% for RDIV and 0.05% for VOE.

Which has better risk-adjusted returns?

RDIV currently has the higher Sharpe Ratio (2.61 vs 2.20), 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.