RPV vs. FOVL

Last updated Aug 2, 2026

RPV (Invesco S&P 500® Pure Value ETF) and FOVL (iShares Focused Value Factor ETF) are both exchange-traded funds - RPV is a Large Cap Value Equities fund tracking the S&P 500 Pure Value Index, while FOVL is a Mid Cap Value Equities fund tracking the MSCI USA IMI Focused Value Factor Index. Both are passively managed. Their correlation of 0.88 means they have usually moved in the same direction. RPV charges 0.35%/yr vs 0.25%/yr for FOVL.

Performance

RPV vs. FOVL - Performance Comparison

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

Returns By Period

RPV

• 1D: -0.36%
• 1M: 2.75%
• 6M: 12.21%
• YTD: 16.52%
• 1Y: 34.20%
• 3Y*: 16.76%
• 5Y*: 12.24%
• 10Y*: 11.15%
• ALL TIME*: 9.47%

FOVL

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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)
RPV Invesco S&P 500® Pure Value ETF	$14.78M	$14.37M	$15.41M

RPV vs. FOVL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
RPV Invesco S&P 500® Pure Value ETF	16.52%	17.70%	12.41%	7.98%	-1.27%	34.22%	-8.69%	11.78%
FOVL iShares Focused Value Factor ETF	0.00%	6.43%	22.87%	17.72%	-9.39%	40.14%	-13.20%	7.00%

Correlation

The correlation between RPV and FOVL is 0.10, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.10
Correlation (3Y) Balances recent behavior with more history.	0.71
Correlation (5Y) Shows whether the relationship held over a longer period.	0.83
Correlation (All Time) Calculated using the full available price history since Mar 21, 2019	0.88

Over the past year, the correlation between RPV and FOVL has dropped to 0.10 - well below their long-term average of 0.88, suggesting their price drivers have been diverging.

RPV vs. FOVL - Sectors Allocation Comparison

Sectors	RPV	FOVL
Financial Services	18.8%	44.6%
Healthcare	18.3%	4.9%
Consumer Defensive	13.0%	5.0%
Consumer Cyclical	11.4%	5.2%
Energy	9.6%	7.7%
Basic Materials	7.5%	-
Industrials	7.3%	12.8%
Communication Services	5.2%	4.7%
Utilities	4.1%	7.5%
Technology	3.4%	5.0%
Real Estate	1.6%	2.6%

Return for Risk

RPV vs. FOVL — Risk / Return Rank

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

RPV

RPV Risk / Return Rank: 93
RPV Sharpe Ratio Rank: 94
RPV Sortino Ratio Rank: 94
RPV Omega Ratio Rank: 92
RPV Calmar Ratio Rank: 92
RPV Martin Ratio Rank: 92

FOVL

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

RPV vs. FOVL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500® Pure Value ETF (RPV) and iShares Focused Value Factor ETF (FOVL). 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.

	RPV	FOVL	Difference
Sharpe ratio: Return per unit of total volatility	2.63	—	—
Sortino ratio: Return per unit of downside risk	3.77	—	—
Omega ratio: Gain probability vs. loss probability	1.45	—	—
Calmar ratio: Return relative to maximum drawdown	4.23	—	—
Martin ratio: Return relative to average drawdown	15.58	—	—

Drawdowns

Drawdown Indicators

	RPV	FOVL	Difference
Max Drawdown Largest peak-to-trough decline	-75.32%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-7.74%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-14.90%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-22.64%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-50.67%	—	—
Current Drawdown Current decline from peak	-1.82%	—	—
Average Drawdown Average peak-to-trough decline	-10.61%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.10%	—	—

Volatility

Volatility by Period

	RPV	FOVL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.12%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.20%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.50%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.60%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.80%	—	—

RPV vs. FOVL - Expense Ratio Comparison

RPV has a 0.35% expense ratio, which is higher than FOVL's 0.25% expense ratio.

Dividends

RPV vs. FOVL - Dividend Comparison

RPV's dividend yield for the trailing twelve months is around 2.28%, while FOVL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FOVL iShares Focused Value Factor ETF	0.00%	1.36%	2.08%	2.59%	3.38%	2.80%	2.88%	2.09%	0.00%	0.00%	0.00%	0.00%
RPV Invesco S&P 500® Pure Value ETF	2.28%	2.50%	2.16%	2.38%	2.29%	1.92%	2.11%	2.28%	2.49%	1.73%	1.73%	2.39%

Frequently Asked Questions

Can I hold both RPV and FOVL in my portfolio?

RPV and FOVL have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RPV or FOVL?

On fees, FOVL is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RPV or FOVL?

FOVL is cheaper with a 0.25% expense ratio, compared with 0.35% for RPV.

Which ETF pays a higher dividend yield, RPV or FOVL?

RPV has the higher dividend yield at 2.28%, compared with 0.00% for FOVL.

What is the main difference between RPV and FOVL?

RPV is categorized as Large Cap Value Equities, while FOVL is Mid Cap Value Equities. RPV tracks S&P 500 Pure Value Index, while FOVL tracks MSCI USA IMI Focused Value Factor Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.35% for RPV and 0.25% for FOVL.