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RFG vs. IMCG
Performance
Return for Risk
Dividends
Drawdowns
Volatility

RFG vs. IMCG

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco S&P MidCap 400® Pure Growth ETF (RFG) and iShares Morningstar Mid-Cap Growth ETF (IMCG).

RFG and IMCG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. RFG is a passively managed fund by Invesco that tracks the performance of the S&P Mid Cap 400 Pure Growth. It was launched on Mar 1, 2006. IMCG is a passively managed fund by iShares that tracks the performance of the Morningstar US Mid Cap Broad Growth Index. It was launched on Jun 28, 2004. Both RFG and IMCG are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

RFG vs. IMCG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P MidCap 400® Pure Growth ETF (RFG) and iShares Morningstar Mid-Cap Growth ETF (IMCG). The values are adjusted to include any dividend payments, if applicable.

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RFG vs. IMCG - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
RFG
Invesco S&P MidCap 400® Pure Growth ETF		4.55%8.80%17.80%16.42%-21.70%13.81%32.86%17.09%-13.98%20.46%
IMCG
iShares Morningstar Mid-Cap Growth ETF		-1.19%6.55%18.14%20.73%-25.79%15.39%45.64%35.70%-3.68%25.57%

Returns By Period

In the year-to-date period, RFG achieves a 4.55% return, which is significantly higher than IMCG's -1.19% return. Over the past 10 years, RFG has underperformed IMCG with an annualized return of 9.04%, while IMCG has yielded a comparatively higher 12.58% annualized return.

RFG

1D
3.68%
1M
-6.38%
YTD
4.55%
6M
7.67%
1Y
25.57%
3Y*
14.99%
5Y*
4.84%
10Y*
9.04%

IMCG

1D
3.63%
1M
-6.39%
YTD
-1.19%
6M
-4.39%
1Y
11.14%
3Y*
11.94%
5Y*
5.08%
10Y*
12.58%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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® Pure Growth ETF

iShares Morningstar Mid-Cap Growth ETF

Often compared with RFG:
RFG vs. RFVRFG vs. IVOGRFG vs. SPMDRFG vs. FRTYRFG vs. FDISRFG vs. VOTRFG vs. XMHQ
Often compared with IMCG:
IMCG vs. VOTIMCG vs. IWPIMCG vs. SCHMIMCG vs. MDYGIMCG vs. IJKIMCG vs. XMHQIMCG vs. IMCB

RFG vs. IMCG - Expense Ratio Comparison

RFG has a 0.35% expense ratio, which is higher than IMCG's 0.06% expense ratio.

RFG
Invesco S&P MidCap 400® Pure Growth ETF
IMCG
iShares Morningstar Mid-Cap Growth ETF

Return for Risk

RFG vs. IMCG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
RFG
RFG Risk / Return Rank: 6969
Overall Rank
RFG Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
RFG Sortino Ratio Rank: 6868
Sortino Ratio Rank
RFG Omega Ratio Rank: 6161
Omega Ratio Rank
RFG Calmar Ratio Rank: 7474
Calmar Ratio Rank
RFG Martin Ratio Rank: 7878
Martin Ratio Rank
IMCG
IMCG Risk / Return Rank: 3535
Overall Rank
IMCG Sharpe Ratio Rank: 3232
Sharpe Ratio Rank
IMCG Sortino Ratio Rank: 3434
Sortino Ratio Rank
IMCG Omega Ratio Rank: 3333
Omega Ratio Rank
IMCG Calmar Ratio Rank: 3737
Calmar Ratio Rank
IMCG Martin Ratio Rank: 4141
Martin Ratio Rank
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.

RFG vs. IMCG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P MidCap 400® Pure Growth ETF (RFG) and iShares Morningstar Mid-Cap Growth ETF (IMCG). 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.

RFGIMCGDifference

Sharpe ratio

Return per unit of total volatility

1.10

0.55

+0.55

Sortino ratio

Return per unit of downside risk

1.69

0.92

+0.76

Omega ratio

Gain probability vs. loss probability

1.22

1.12

+0.10

Calmar ratio

Return relative to maximum drawdown

1.90

0.87

+1.03

Martin ratio

Return relative to average drawdown

8.23

3.61

+4.61

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RFG vs. IMCG - Sharpe Ratio Comparison

The current RFG Sharpe Ratio is 1.10, which is higher than the IMCG Sharpe Ratio of 0.55. The chart below compares the historical Sharpe Ratios of RFG and IMCG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

RFGIMCGDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.10

0.55

+0.55

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.21

0.25

-0.04

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.39

0.62

-0.22

Sharpe Ratio (All Time)

Calculated using the full available price history

0.40

0.50

-0.10

Correlation

The correlation between RFG and IMCG is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

RFG vs. IMCG - Dividend Comparison

RFG's dividend yield for the trailing twelve months is around 0.37%, less than IMCG's 0.80% yield.

TTM20252024202320222021202020192018201720162015
RFG
Invesco S&P MidCap 400® Pure Growth ETF		0.37%0.43%0.38%0.99%0.78%0.05%0.27%0.64%0.76%0.66%0.35%0.61%
IMCG
iShares Morningstar Mid-Cap Growth ETF		0.80%0.78%0.78%0.85%0.91%0.41%0.09%0.30%0.35%0.45%0.52%0.38%

Drawdowns

RFG vs. IMCG - Drawdown Comparison

The maximum RFG drawdown since its inception was -51.93%, smaller than the maximum IMCG drawdown of -58.96%. Use the drawdown chart below to compare losses from any high point for RFG and IMCG.

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Drawdown Indicators

RFGIMCGDifference

Max Drawdown

Largest peak-to-trough decline

-51.93%

-58.96%

+7.03%

Max Drawdown (1Y)

Largest decline over 1 year

-13.44%

-12.99%

-0.45%

Max Drawdown (5Y)

Largest decline over 5 years

-35.16%

-35.08%

-0.08%

Max Drawdown (10Y)

Largest decline over 10 years

-42.92%

-35.08%

-7.84%

Current Drawdown

Current decline from peak

-7.11%

-6.90%

-0.21%

Average Drawdown

Average peak-to-trough decline

-9.03%

-9.29%

+0.26%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.10%

3.14%

-0.04%

Volatility

RFG vs. IMCG - Volatility Comparison

Invesco S&P MidCap 400® Pure Growth ETF (RFG) has a higher volatility of 8.63% compared to iShares Morningstar Mid-Cap Growth ETF (IMCG) at 7.19%. This indicates that RFG's price experiences larger fluctuations and is considered to be riskier than IMCG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

RFGIMCGDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.63%

7.19%

+1.44%

Volatility (6M)

Calculated over the trailing 6-month period

14.19%

12.08%

+2.11%

Volatility (1Y)

Calculated over the trailing 1-year period

23.25%

20.27%

+2.98%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.73%

20.09%

+2.64%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.98%

20.44%

+2.54%