RFV vs. VFVA

Last updated Aug 6, 2026

RFV (Invesco S&P MidCap 400® Pure Value ETF) and VFVA (Vanguard U.S. Value Factor ETF) are both Mid Cap Value Equities funds. RFV is passively managed, while VFVA is actively managed. Over the past 5 years, RFV returned 12.20%/yr vs 12.59%/yr for VFVA. Their correlation of 0.93 means they have usually moved in the same direction. RFV charges 0.35%/yr vs 0.13%/yr for VFVA.

Performance

RFV vs. VFVA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P MidCap 400® Pure Value ETF (RFV) and Vanguard U.S. Value Factor ETF (VFVA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RFV achieves a 19.10% return, which is significantly lower than VFVA's 21.52% return.

RFV

• 1D: -0.87%
• 1M: 5.31%
• 6M: 8.28%
• YTD: 19.10%
• 1Y: 26.43%
• 3Y*: 14.31%
• 5Y*: 12.20%
• 10Y*: 12.42%
• ALL TIME*: 10.01%

VFVA

• 1D: -0.62%
• 1M: 5.76%
• 6M: 13.22%
• YTD: 21.52%
• 1Y: 37.52%
• 3Y*: 17.31%
• 5Y*: 12.59%
• 10Y*: —
• ALL TIME*: 10.95%

*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)
RFV Invesco S&P MidCap 400® Pure Value ETF	$1.31M	$1.15M	$815.25K
VFVA Vanguard U.S. Value Factor ETF	$3.35M	$2.80M	$1.88M

RFV vs. VFVA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
RFV Invesco S&P MidCap 400® Pure Value ETF	19.10%	7.66%	5.63%	30.26%	-3.99%	33.02%	9.61%	24.98%	-15.06%
VFVA Vanguard U.S. Value Factor ETF	21.52%	14.77%	7.67%	17.37%	-3.96%	36.94%	2.28%	25.42%	-18.90%

Correlation

The correlation between RFV and VFVA is 0.81, 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.	0.81
Correlation (3Y) Balances recent behavior with more history.	0.90
Correlation (5Y) Shows whether the relationship held over a longer period.	0.93
Correlation (All Time) Calculated using the full available price history since Feb 15, 2018	0.93

The correlation between RFV and VFVA shifts across timeframes, from 0.81 (1 year) to 0.93 (all time), reflecting how their relationship changes across market environments.

RFV vs. VFVA - Sectors Allocation Comparison

Sectors	RFV	VFVA
Consumer Cyclical	24.8%	13.1%
Financial Services	17.8%	25.7%
Energy	13.8%	7.3%
Technology	11.8%	14.5%
Industrials	11.0%	7.6%
Basic Materials	6.6%	3.3%
Consumer Defensive	6.2%	7.1%
Real Estate	3.8%	0.4%
Healthcare	2.4%	14.9%
Communication Services	1.8%	6.2%
Utilities	-	-

Return for Risk

RFV vs. VFVA — Risk / Return Rank

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

RFV

RFV Risk / Return Rank: 56
RFV Sharpe Ratio Rank: 57
RFV Sortino Ratio Rank: 63
RFV Omega Ratio Rank: 55
RFV Calmar Ratio Rank: 52
RFV Martin Ratio Rank: 51

VFVA

VFVA Risk / Return Rank: 91
VFVA Sharpe Ratio Rank: 92
VFVA Sortino Ratio Rank: 93
VFVA Omega Ratio Rank: 90
VFVA Calmar Ratio Rank: 91
VFVA Martin Ratio Rank: 88

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.

RFV vs. VFVA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P MidCap 400® Pure Value ETF (RFV) and Vanguard U.S. Value Factor ETF (VFVA). 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.

	RFV	VFVA	Difference
Sharpe ratio: Return per unit of total volatility	1.57	2.55	-0.97
Sortino ratio: Return per unit of downside risk	2.39	3.70	-1.31
Omega ratio: Gain probability vs. loss probability	1.28	1.45	-0.17
Calmar ratio: Return relative to maximum drawdown	2.12	4.41	-2.29
Martin ratio: Return relative to average drawdown	6.75	14.91	-8.17

RFV vs. VFVA - Sharpe Ratio Comparison

The current RFV Sharpe Ratio is 1.57, which is lower than the VFVA Sharpe Ratio of 2.55. The chart below compares the historical Sharpe Ratios of RFV and VFVA, 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

RFV vs. VFVA - Drawdown Comparison

The maximum RFV drawdown since its inception was -71.82%, which is greater than VFVA's maximum drawdown of -48.58%. Use the drawdown chart below to compare losses from any high point for RFV and VFVA.

Drawdown Indicators

	RFV	VFVA	Difference
Max Drawdown Largest peak-to-trough decline	-71.82%	-48.58%	-23.24%
Max Drawdown (1Y) Largest decline over 1 year	-12.51%	-8.55%	-3.96%
Max Drawdown (3Y) Largest decline over 3 years	-24.65%	-24.07%	-0.58%
Max Drawdown (5Y) Largest decline over 5 years	-24.65%	-24.07%	-0.58%
Max Drawdown (10Y) Largest decline over 10 years	-52.24%	—	—
Current Drawdown Current decline from peak	-0.87%	-0.62%	-0.25%
Average Drawdown Average peak-to-trough decline	-9.72%	-7.23%	-2.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.93%	2.52%	+1.41%

Volatility

RFV vs. VFVA - Volatility Comparison

The current volatility for Invesco S&P MidCap 400® Pure Value ETF (RFV) is 3.68%, while Vanguard U.S. Value Factor ETF (VFVA) has a volatility of 4.58%. This indicates that RFV experiences smaller price fluctuations and is considered to be less risky than VFVA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RFV	VFVA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.68%	4.58%	-0.90%
Volatility (6M) Calculated over the trailing 6-month period	11.24%	10.23%	+1.01%
Volatility (1Y) Calculated over the trailing 1-year period	16.88%	14.79%	+2.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.77%	20.04%	+1.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.84%	24.19%	+0.65%

RFV vs. VFVA - Expense Ratio Comparison

RFV has a 0.35% expense ratio, which is higher than VFVA's 0.13% expense ratio.

Dividends

RFV vs. VFVA - Dividend Comparison

RFV's dividend yield for the trailing twelve months is around 1.60%, less than VFVA's 1.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RFV Invesco S&P MidCap 400® Pure Value ETF	1.60%	2.07%	1.31%	1.27%	2.05%	1.60%	1.52%	1.71%	1.39%	1.36%	0.88%	1.79%
VFVA Vanguard U.S. Value Factor ETF	1.74%	2.13%	2.40%	2.45%	2.21%	1.68%	2.04%	2.08%	1.65%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RFV and VFVA in my portfolio?

RFV and VFVA 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, RFV or VFVA?

VFVA has higher volatility (4.58%) compared to RFV (3.68%). In terms of maximum drawdown, RFV dropped -71.82% vs VFVA's -48.58%.

Which ETF is better, RFV or VFVA?

On 5-year performance, VFVA leads with 12.59% vs 12.20% for RFV. On fees, VFVA is cheaper at 0.13% per year. On volatility, RFV has been the lower-risk option at 3.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RFV or VFVA?

Over the 5-year period, VFVA has performed better with a 12.59% return vs 12.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RFV or VFVA?

VFVA is cheaper with a 0.13% expense ratio, compared with 0.35% for RFV.

Which ETF pays a higher dividend yield, RFV or VFVA?

VFVA has the higher dividend yield at 1.74%, compared with 1.60% for RFV.

What is the main difference between RFV and VFVA?

They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.35% for RFV and 0.13% for VFVA.

Which has better risk-adjusted returns?

VFVA currently has the higher Sharpe Ratio (2.55 vs 1.57), 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.