RWJ vs. EPSV

Last updated Jun 4, 2026

RWJ (Invesco S&P SmallCap 600 Revenue ETF) and EPSV (Harbor SMID Cap Value ETF) are both Small Cap Value Equities funds. RWJ is passively managed, while EPSV is actively managed. Over the past year, RWJ returned 36.55% vs 46.19% for EPSV. Their correlation of 0.88 suggests significant overlap in exposure. RWJ charges 0.39%/yr vs 0.88%/yr for EPSV.

Performance

RWJ vs. EPSV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap 600 Revenue ETF (RWJ) and Harbor SMID Cap Value ETF (EPSV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RWJ achieves a 15.88% return, which is significantly lower than EPSV's 26.42% return.

RWJ

• 1D: -1.07%
• 1M: 1.90%
• YTD: 15.88%
• 6M: 14.97%
• 1Y: 36.55%
• 3Y*: 16.43%
• 5Y*: 7.73%
• 10Y*: 13.02%

EPSV

• 1D: -0.04%
• 1M: 7.26%
• YTD: 26.42%
• 6M: 26.98%
• 1Y: 46.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RWJ vs. EPSV - Yearly Performance Comparison

	2026 (YTD)	2025
RWJ Invesco S&P SmallCap 600 Revenue ETF	15.88%	23.43%
EPSV Harbor SMID Cap Value ETF	26.42%	20.91%

Correlation

The correlation between RWJ and EPSV is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (All Time) Calculated using the full available price history since May 5, 2025	0.88

The correlation between RWJ and EPSV has been stable across timeframes, ranging from 0.88 to 0.88 - a consistent structural relationship.

RWJ vs. EPSV - Sectors Allocation Comparison

Sectors	RWJ	EPSV
Consumer Cyclical	23.9%	5.8%
Industrials	16.2%	24.9%
Healthcare	11.2%	0.9%
Financial Services	11.0%	19.1%
Technology	9.9%	22.7%
Energy	7.4%	6.1%
Consumer Defensive	6.9%	5.0%
Basic Materials	5.2%	4.3%
Real Estate	4.0%	7.5%
Communication Services	3.3%	-
Utilities	0.9%	3.7%

Return for Risk

RWJ vs. EPSV — Risk / Return Rank

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

RWJ

RWJ Risk / Return Rank: 57
RWJ Sharpe Ratio Rank: 55
RWJ Sortino Ratio Rank: 57
RWJ Omega Ratio Rank: 52
RWJ Calmar Ratio Rank: 65
RWJ Martin Ratio Rank: 58

EPSV

EPSV Risk / Return Rank: 83
EPSV Sharpe Ratio Rank: 81
EPSV Sortino Ratio Rank: 83
EPSV Omega Ratio Rank: 77
EPSV Calmar Ratio Rank: 88
EPSV Martin Ratio Rank: 86

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.

RWJ vs. EPSV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap 600 Revenue ETF (RWJ) and Harbor SMID Cap Value ETF (EPSV). 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.

	RWJ	EPSV	Difference
Sharpe ratio: Return per unit of total volatility	1.90	2.62	-0.73
Sortino ratio: Return per unit of downside risk	2.75	3.68	-0.94
Omega ratio: Gain probability vs. loss probability	1.33	1.46	-0.13
Calmar ratio: Return relative to maximum drawdown	3.25	5.19	-1.95
Martin ratio: Return relative to average drawdown	10.39	18.03	-7.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RWJ vs. EPSV - Sharpe Ratio Comparison

The current RWJ Sharpe Ratio is 1.90, which is comparable to the EPSV Sharpe Ratio of 2.62. The chart below compares the historical Sharpe Ratios of RWJ and EPSV, 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

	RWJ	EPSV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.90	2.62	-0.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	2.66	-2.20

Drawdowns

RWJ vs. EPSV - Drawdown Comparison

The maximum RWJ drawdown since its inception was -55.97%, which is greater than EPSV's maximum drawdown of -8.93%. Use the drawdown chart below to compare losses from any high point for RWJ and EPSV.

Drawdown Indicators

	RWJ	EPSV	Difference
Max Drawdown Largest peak-to-trough decline	-55.97%	-8.93%	-47.04%
Max Drawdown (1Y) Largest decline over 1 year	-11.31%	-8.93%	-2.38%
Max Drawdown (3Y) Largest decline over 3 years	-29.29%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-29.29%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-51.33%	—	—
Current Drawdown Current decline from peak	-1.07%	-0.04%	-1.03%
Average Drawdown Average peak-to-trough decline	-9.24%	-1.67%	-7.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.53%	2.57%	+0.96%

Volatility

RWJ vs. EPSV - Volatility Comparison

The current volatility for Invesco S&P SmallCap 600 Revenue ETF (RWJ) is 4.64%, while Harbor SMID Cap Value ETF (EPSV) has a volatility of 6.05%. This indicates that RWJ experiences smaller price fluctuations and is considered to be less risky than EPSV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RWJ	EPSV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.64%	6.05%	-1.41%
Volatility (6M) Calculated over the trailing 6-month period	12.29%	12.80%	-0.51%
Volatility (1Y) Calculated over the trailing 1-year period	19.40%	17.75%	+1.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.71%	18.14%	+5.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.14%	18.14%	+8.00%

RWJ vs. EPSV - Expense Ratio Comparison

RWJ has a 0.39% expense ratio, which is lower than EPSV's 0.88% expense ratio.

Dividends

RWJ vs. EPSV - Dividend Comparison

RWJ's dividend yield for the trailing twelve months is around 1.01%, less than EPSV's 2.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EPSV Harbor SMID Cap Value ETF	2.28%	2.88%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RWJ Invesco S&P SmallCap 600 Revenue ETF	1.01%	1.11%	1.15%	1.34%	1.02%	0.61%	0.89%	1.22%	1.44%	1.11%	0.60%	0.74%

Frequently Asked Questions

Can I hold both RWJ and EPSV in my portfolio?

RWJ and EPSV have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RWJ or EPSV?

EPSV has higher volatility (6.05%) compared to RWJ (4.64%). In terms of maximum drawdown, RWJ dropped -55.97% vs EPSV's -8.93%.

Which ETF is better, RWJ or EPSV?

On 1-year performance, EPSV leads with 46.19% vs 36.55% for RWJ. On fees, RWJ is cheaper at 0.39% per year. On volatility, RWJ has been the lower-risk option at 4.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RWJ or EPSV?

Over the 1-year period, EPSV has performed better with a 46.19% return vs 36.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RWJ or EPSV?

RWJ is cheaper with a 0.39% expense ratio, compared with 0.88% for EPSV.

Which ETF pays a higher dividend yield, RWJ or EPSV?

EPSV has the higher dividend yield at 2.28%, compared with 1.01% for RWJ.

What is the main difference between RWJ and EPSV?

They also come from different issuers: Invesco and Harbor. Their fees differ too: 0.39% for RWJ and 0.88% for EPSV.

Which has better risk-adjusted returns?

EPSV currently has the higher Sharpe Ratio (2.62 vs 1.90), 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.