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RPV vs. RZV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

RPV vs. RZV

Last updated Jun 23, 2026

RPV (Invesco S&P 500® Pure Value ETF) and RZV (Invesco S&P SmallCap 600® Pure Value ETF) are both exchange-traded funds - RPV is a Large Cap Value Equities fund tracking the S&P 500/Citigroup Pure Value Index, while RZV is a Small Cap Value Equities fund tracking the S&P Small Cap 600 Pure Value. Both are passively managed. Over the past 10 years, RPV returned 11.09%/yr vs 11.16%/yr for RZV. Their correlation of 0.83 suggests significant overlap in exposure. Both charge a 0.35% expense ratio.

Performance

RPV vs. RZV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500® Pure Value ETF (RPV) and Invesco S&P SmallCap 600® Pure Value ETF (RZV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, RPV achieves a 10.37% return, which is significantly lower than RZV's 21.14% return. Both investments have delivered pretty close results over the past 10 years, with RPV having a 11.09% annualized return and RZV not far ahead at 11.16%.

RPV

1D
0.42%
1M
0.56%
YTD
10.37%
6M
9.86%
1Y
25.33%
3Y*
17.44%
5Y*
10.67%
10Y*
11.09%

RZV

1D
-0.60%
1M
5.57%
YTD
21.14%
6M
19.68%
1Y
42.65%
3Y*
18.81%
5Y*
9.97%
10Y*
11.16%
*Multi-year figures are annualized to reflect compound growth (CAGR)

RPV vs. RZV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
RPV
Invesco S&P 500® Pure Value ETF		10.37%17.70%12.41%7.98%-1.27%34.22%-8.69%24.80%-12.31%17.30%
RZV
Invesco S&P SmallCap 600® Pure Value ETF		21.14%8.65%5.06%22.97%-6.80%45.95%-3.88%22.29%-19.66%1.25%

Correlation

The correlation between RPV and RZV is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.75

Correlation (3Y)
Calculated over the trailing 3-year period

0.82

Correlation (5Y)
Calculated over the trailing 5-year period

0.86

Correlation (10Y)
Calculated over the trailing 10-year period

0.86

Correlation (All Time)
Calculated using the full available price history since Mar 7, 2006

0.83

The correlation between RPV and RZV shifts across timeframes, from 0.75 (1 year) to 0.86 (5 years), reflecting how their relationship changes across market environments.

RPV vs. RZV - Sectors Allocation Comparison

Sectors
RPV
RZV

Financial Services

17.4%
7.4%

Healthcare

16.8%
8.4%

Consumer Defensive

14.8%
7.6%

Consumer Cyclical

11.4%
25.9%

Energy

10.0%
8.8%

Basic Materials

8.6%
6.2%

Industrials

6.7%
15.9%

Communication Services

5.5%
4.0%

Utilities

3.9%
0.4%

Technology

3.5%
10.5%

Real Estate

1.6%
4.8%

Financial Services

RPV
17.4%
RZV
7.4%

Healthcare

RPV
16.8%
RZV
8.4%

Consumer Defensive

RPV
14.8%
RZV
7.6%

Consumer Cyclical

RPV
11.4%
RZV
25.9%

Energy

RPV
10.0%
RZV
8.8%

Basic Materials

RPV
8.6%
RZV
6.2%

Industrials

RPV
6.7%
RZV
15.9%

Communication Services

RPV
5.5%
RZV
4.0%

Utilities

RPV
3.9%
RZV
0.4%

Technology

RPV
3.5%
RZV
10.5%

Real Estate

RPV
1.6%
RZV
4.8%

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 500® Pure Value ETF

Invesco S&P SmallCap 600® Pure Value ETF

Often compared with RPV:
RPV vs. VTVRPV vs. SPYRPV vs. RFVRPV vs. SCHDRPV vs. VOORPV vs. MGVRPV vs. VONV
Often compared with RZV:
RZV vs. AVUVRZV vs. RWJRZV vs. VBRRZV vs. IJRRZV vs. PSCCRZV vs. SPYRZV vs. VOO

Return for Risk

RPV vs. RZV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
RPV
RPV Risk / Return Rank: 6363
Overall Rank
RPV Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
RPV Sortino Ratio Rank: 6565
Sortino Ratio Rank
RPV Omega Ratio Rank: 5757
Omega Ratio Rank
RPV Calmar Ratio Rank: 6868
Calmar Ratio Rank
RPV Martin Ratio Rank: 6464
Martin Ratio Rank
RZV
RZV Risk / Return Rank: 6464
Overall Rank
RZV Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
RZV Sortino Ratio Rank: 6666
Sortino Ratio Rank
RZV Omega Ratio Rank: 5757
Omega Ratio Rank
RZV Calmar Ratio Rank: 7070
Calmar Ratio Rank
RZV Martin Ratio Rank: 6363
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.

RPV vs. RZV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500® Pure Value ETF (RPV) and Invesco S&P SmallCap 600® Pure Value ETF (RZV). 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.

RPVRZVDifference
Sharpe ratioReturn per unit of total volatility
1.99
2.07

-0.08

Sortino ratioReturn per unit of downside risk
2.88
2.92

-0.04

Omega ratioGain probability vs. loss probability

1.34

1.34

0.00

Calmar ratioReturn relative to maximum drawdown

3.29

3.41

-0.12

Martin ratioReturn relative to average drawdown

11.34

11.08

+0.25

RPV vs. RZV - Sharpe Ratio Comparison

The current RPV Sharpe Ratio is 1.99, which is comparable to the RZV Sharpe Ratio of 2.07. The chart below compares the historical Sharpe Ratios of RPV and RZV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

RPV vs. RZV - Drawdown Comparison

The maximum RPV drawdown since its inception was -75.32%, roughly equal to the maximum RZV drawdown of -77.11%. Use the drawdown chart below to compare losses from any high point for RPV and RZV.

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Drawdown Indicators

RPVRZVDifference

Max Drawdown

Largest peak-to-trough decline

-75.32%

-77.11%

+1.79%

Max Drawdown (1Y)

Largest decline over 1 year

-7.74%

-12.56%

+4.82%

Max Drawdown (3Y)

Largest decline over 3 years

-15.50%

-29.81%

+14.31%

Max Drawdown (5Y)

Largest decline over 5 years

-22.64%

-29.81%

+7.17%

Max Drawdown (10Y)

Largest decline over 10 years

-50.67%

-60.42%

+9.75%

Current Drawdown

Current decline from peak

-3.26%

-1.98%

-1.28%

Average Drawdown

Average peak-to-trough decline

-10.66%

-13.57%

+2.91%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.24%

3.86%

-1.62%

Volatility

RPV vs. RZV - Volatility Comparison

The current volatility for Invesco S&P 500® Pure Value ETF (RPV) is 3.54%, while Invesco S&P SmallCap 600® Pure Value ETF (RZV) has a volatility of 5.25%. This indicates that RPV experiences smaller price fluctuations and is considered to be less risky than RZV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

RPVRZVDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.54%

5.25%

-1.71%

Volatility (6M)

Calculated over the trailing 6-month period

8.69%

14.08%

-5.39%

Volatility (1Y)

Calculated over the trailing 1-year period

12.83%

20.78%

-7.95%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.79%

24.32%

-6.53%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.92%

27.03%

-5.11%

RPV vs. RZV - Expense Ratio Comparison

Both RPV and RZV have an expense ratio of 0.35%.

Dividends

RPV vs. RZV - Dividend Comparison

RPV's dividend yield for the trailing twelve months is around 2.90%, more than RZV's 1.72% yield.

PositionTTM20252024202320222021202020192018201720162015
RPV
Invesco S&P 500® Pure Value ETF		2.41%2.50%2.16%2.38%2.29%1.92%2.11%2.28%2.49%1.73%1.73%2.39%
RZV
Invesco S&P SmallCap 600® Pure Value ETF		1.45%1.59%1.14%1.13%1.43%0.86%0.63%1.03%2.03%1.02%0.46%1.24%

Frequently Asked Questions

RPV and RZV have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

RZV has higher volatility (5.25%) compared to RPV (3.54%). In terms of maximum drawdown, RPV dropped -75.32% vs RZV's -77.11%.

On 10-year performance, RZV leads with 11.16% vs 11.09% for RPV. Both ETFs have the same 0.35% expense ratio. On volatility, RPV has been the lower-risk option at 3.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, RZV has performed better with a 11.16% return vs 11.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

RPV and RZV have the same expense ratio: 0.35% per year.

RPV has the higher dividend yield at 2.90%, compared with 1.72% for RZV.

RPV is categorized as Large Cap Value Equities, while RZV is Small Cap Value Equities. RPV tracks S&P 500/Citigroup Pure Value Index, while RZV tracks S&P Small Cap 600 Pure Value.

RZV currently has the higher Sharpe Ratio (2.07 vs 1.99), 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.

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