RPV vs. IAUM

Last updated Jun 9, 2026

RPV (Invesco S&P 500® Pure Value ETF) and IAUM (iShares Gold Trust Micro) are both exchange-traded funds - RPV is a Large Cap Value Equities fund tracking the S&P 500/Citigroup Pure Value Index, while IAUM is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 3 years, RPV returned 17.39%/yr vs 30.12%/yr for IAUM. At a 0.08 correlation, their price movements are largely independent. RPV charges 0.35%/yr vs 0.09%/yr for IAUM.

Performance

RPV vs. IAUM - 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 Gold Trust Micro (IAUM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RPV achieves a 11.02% return, which is significantly higher than IAUM's 0.28% return.

RPV

• 1D: 0.04%
• 1M: 2.97%
• YTD: 11.02%
• 6M: 13.06%
• 1Y: 28.29%
• 3Y*: 17.39%
• 5Y*: 9.71%
• 10Y*: 10.82%

IAUM

• 1D: 0.21%
• 1M: -8.41%
• YTD: 0.28%
• 6M: 3.16%
• 1Y: 30.56%
• 3Y*: 30.12%
• 5Y*: —
• 10Y*: —

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

RPV vs. IAUM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
RPV Invesco S&P 500® Pure Value ETF	11.02%	17.70%	12.41%	7.98%	-1.27%	6.44%
IAUM iShares Gold Trust Micro	0.28%	64.27%	27.04%	13.12%	-0.49%	3.87%

Correlation

The correlation between RPV and IAUM is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.10
Correlation (All Time) Calculated using the full available price history since Jun 30, 2021	0.08

RPV vs. IAUM - Sectors Allocation Comparison

Sectors	RPV	IAUM
Financial Services	17.9%	-
Healthcare	16.2%	-
Consumer Defensive	15.2%	-
Energy	11.3%	-
Consumer Cyclical	10.2%	-
Basic Materials	9.0%	-
Industrials	6.3%	-
Communication Services	5.7%	-
Utilities	4.0%	-
Technology	2.8%	-
Real Estate	1.4%	100.0%

Return for Risk

RPV vs. IAUM — Risk / Return Rank

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

RPV

RPV Risk / Return Rank: 77
RPV Sharpe Ratio Rank: 78
RPV Sortino Ratio Rank: 82
RPV Omega Ratio Rank: 74
RPV Calmar Ratio Rank: 78
RPV Martin Ratio Rank: 75

IAUM

IAUM Risk / Return Rank: 34
IAUM Sharpe Ratio Rank: 35
IAUM Sortino Ratio Rank: 31
IAUM Omega Ratio Rank: 39
IAUM Calmar Ratio Rank: 34
IAUM Martin Ratio Rank: 29

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.

RPV vs. IAUM - 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 Gold Trust Micro (IAUM). 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.

	RPV	IAUM	Difference
Sharpe ratio: Return per unit of total volatility	2.26	1.16	+1.11
Sortino ratio: Return per unit of downside risk	3.27	1.54	+1.73
Omega ratio: Gain probability vs. loss probability	1.39	1.23	+0.16
Calmar ratio: Return relative to maximum drawdown	3.67	1.53	+2.14
Martin ratio: Return relative to average drawdown	12.85	3.84	+9.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RPV vs. IAUM - Sharpe Ratio Comparison

The current RPV Sharpe Ratio is 2.26, which is higher than the IAUM Sharpe Ratio of 1.16. The chart below compares the historical Sharpe Ratios of RPV and IAUM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	RPV	IAUM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.26	1.16	+1.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	1.11	-0.74

Drawdowns

RPV vs. IAUM - Drawdown Comparison

The maximum RPV drawdown since its inception was -75.32%, which is greater than IAUM's maximum drawdown of -20.87%. Use the drawdown chart below to compare losses from any high point for RPV and IAUM.

Drawdown Indicators

	RPV	IAUM	Difference
Max Drawdown Largest peak-to-trough decline	-75.32%	-20.87%	-54.45%
Max Drawdown (1Y) Largest decline over 1 year	-7.74%	-20.02%	+12.28%
Max Drawdown (3Y) Largest decline over 3 years	-15.50%	-20.02%	+4.52%
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	-0.43%	-19.85%	+19.42%
Average Drawdown Average peak-to-trough decline	-10.68%	-5.33%	-5.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.21%	7.98%	-5.77%

Volatility

RPV vs. IAUM - Volatility Comparison

The current volatility for Invesco S&P 500® Pure Value ETF (RPV) is 2.50%, while iShares Gold Trust Micro (IAUM) has a volatility of 5.64%. This indicates that RPV experiences smaller price fluctuations and is considered to be less risky than IAUM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RPV	IAUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.50%	5.64%	-3.14%
Volatility (6M) Calculated over the trailing 6-month period	8.55%	23.20%	-14.65%
Volatility (1Y) Calculated over the trailing 1-year period	12.58%	26.57%	-13.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.88%	17.92%	-0.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.92%	17.92%	+4.00%

RPV vs. IAUM - Expense Ratio Comparison

RPV has a 0.35% expense ratio, which is higher than IAUM's 0.09% expense ratio.

Dividends

RPV vs. IAUM - Dividend Comparison

RPV's dividend yield for the trailing twelve months is around 2.27%, while IAUM has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IAUM iShares Gold Trust Micro	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RPV Invesco S&P 500® Pure Value ETF	2.27%	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 IAUM in my portfolio?

RPV and IAUM have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RPV or IAUM?

IAUM has higher volatility (5.64%) compared to RPV (2.50%). In terms of maximum drawdown, RPV dropped -75.32% vs IAUM's -20.87%.

Which ETF is better, RPV or IAUM?

On 3-year performance, IAUM leads with 30.12% vs 17.39% for RPV. On fees, IAUM is cheaper at 0.09% per year. On volatility, RPV has been the lower-risk option at 2.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RPV or IAUM?

Over the 3-year period, IAUM has performed better with a 30.12% return vs 17.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RPV or IAUM?

IAUM is cheaper with a 0.09% expense ratio, compared with 0.35% for RPV.

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

RPV has the higher dividend yield at 2.27%, compared with 0.00% for IAUM.

What is the main difference between RPV and IAUM?

RPV is categorized as Large Cap Value Equities, while IAUM is Gold. RPV tracks S&P 500/Citigroup Pure Value Index, while IAUM tracks LBMA Gold Price PM. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.35% for RPV and 0.09% for IAUM.

Which has better risk-adjusted returns?

RPV currently has the higher Sharpe Ratio (2.26 vs 1.16), 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.