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RWJ vs. SVAL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

RWJ vs. SVAL

Last updated Aug 2, 2026
Documentation

RWJ (Invesco S&P SmallCap 600 Revenue ETF) and SVAL (iShares US Small Cap Value Factor ETF) are both Small Cap Value Equities funds - RWJ tracks the S&P SmallCap 600 Revenue-Weighted Index while SVAL tracks the Russell 2000 Focused Value Select Index. Both are passively managed. Over the past 5 years, RWJ returned 10.85%/yr vs 9.86%/yr for SVAL. Their correlation of 0.91 means they have usually moved in the same direction. RWJ charges 0.39%/yr vs 0.20%/yr for SVAL.

Performance

RWJ vs. SVAL - Performance Comparison

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

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Returns By Period

The year-to-date returns for both stocks are quite close, with RWJ having a 25.74% return and SVAL slightly lower at 25.30%.

RWJ

1D
-0.20%
1M
2.40%
6M
17.61%
YTD
25.74%
1Y
43.73%
3Y*
16.07%
5Y*
10.85%
10Y*
13.60%
ALL TIME*
12.54%

SVAL

1D
0.26%
1M
2.62%
6M
17.08%
YTD
25.30%
1Y
43.73%
3Y*
16.07%
5Y*
9.86%
10Y*
—
ALL TIME*
17.62%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

RWJ

Invesco S&P SmallCap 600 Revenue ETF
$5.35M$5.27M$5.02M

SVAL

iShares US Small Cap Value Factor ETF
$620.93K$633.76K$608.86K

RWJ vs. SVAL - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
RWJ
Invesco S&P SmallCap 600 Revenue ETF		25.74%7.75%11.81%16.21%-10.97%52.82%32.45%
SVAL
iShares US Small Cap Value Factor ETF		25.30%8.23%7.54%12.27%-10.15%33.18%29.82%

Correlation

The correlation between RWJ and SVAL is 0.92, 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.

0.92

Correlation (3Y)
Balances recent behavior with more history.

0.91

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.93

Correlation (All Time)
Calculated using the full available price history since Oct 29, 2020

0.91

The correlation between RWJ and SVAL has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.

RWJ vs. SVAL - Sectors Allocation Comparison

Sectors
RWJ
SVAL

Consumer Cyclical

25.4%
11.8%

Industrials

15.3%
12.9%

Financial Services

11.6%
22.7%

Healthcare

11.0%
12.0%

Technology

10.3%
10.4%

Consumer Defensive

7.7%
4.3%

Energy

6.5%
10.0%

Basic Materials

4.7%
4.7%

Real Estate

4.1%
4.7%

Communication Services

2.6%
3.0%

Utilities

0.9%
3.4%

Consumer Cyclical

RWJ
25.4%
SVAL
11.8%

Industrials

RWJ
15.3%
SVAL
12.9%

Financial Services

RWJ
11.6%
SVAL
22.7%

Healthcare

RWJ
11.0%
SVAL
12.0%

Technology

RWJ
10.3%
SVAL
10.4%

Consumer Defensive

RWJ
7.7%
SVAL
4.3%

Energy

RWJ
6.5%
SVAL
10.0%

Basic Materials

RWJ
4.7%
SVAL
4.7%

Real Estate

RWJ
4.1%
SVAL
4.7%

Communication Services

RWJ
2.6%
SVAL
3.0%

Utilities

RWJ
0.9%
SVAL
3.4%

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 SmallCap 600 Revenue ETF

iShares US Small Cap Value Factor ETF

Often compared with RWJ:
RWJ vs. AVUVXRWJ vs. XSVMRWJ vs. RWKRWJ vs. RZVRWJ vs. CALFRWJ vs. RFVRWJ vs. FSMD
Often compared with SVAL:
SVAL vs. AVUVSVAL vs. XSVMSVAL vs. SPYVSVAL vs. IJSSVAL vs. SLYVSVAL vs. IWOSVAL vs. VDC

Return for Risk

RWJ vs. SVAL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
RWJ
RWJ Risk / Return Rank: 8888
Overall Rank
RWJ Sharpe Ratio Rank: 8989
Sharpe Ratio Rank
RWJ Sortino Ratio Rank: 9090
Sortino Ratio Rank
RWJ Omega Ratio Rank: 8686
Omega Ratio Rank
RWJ Calmar Ratio Rank: 8888
Calmar Ratio Rank
RWJ Martin Ratio Rank: 8585
Martin Ratio Rank
SVAL
SVAL Risk / Return Rank: 9292
Overall Rank
SVAL Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
SVAL Sortino Ratio Rank: 9393
Sortino Ratio Rank
SVAL Omega Ratio Rank: 9191
Omega Ratio Rank
SVAL Calmar Ratio Rank: 9393
Calmar Ratio Rank
SVAL Martin Ratio Rank: 9292
Martin Ratio Rank
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.

RWJ vs. SVAL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap 600 Revenue ETF (RWJ) and iShares US Small Cap Value Factor ETF (SVAL). 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.

RWJSVALDifference
Sharpe ratioReturn per unit of total volatility
2.16
2.41

-0.25

Sortino ratioReturn per unit of downside risk
3.12
3.51

-0.39

Omega ratioGain probability vs. loss probability

1.37

1.42

-0.05

Calmar ratioReturn relative to maximum drawdown

3.57

4.59

-1.02

Martin ratioReturn relative to average drawdown

11.98

15.49

-3.51

RWJ vs. SVAL - Sharpe Ratio Comparison

The current RWJ Sharpe Ratio is 2.16, which is comparable to the SVAL Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of RWJ and SVAL, 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

RWJ vs. SVAL - Drawdown Comparison

The maximum RWJ drawdown since its inception was -55.97%, which is greater than SVAL's maximum drawdown of -27.44%. Use the drawdown chart below to compare losses from any high point for RWJ and SVAL.

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Drawdown Indicators

RWJSVALDifference

Max Drawdown

Largest peak-to-trough decline

-55.97%

-27.44%

-28.53%

Max Drawdown (1Y)

Largest decline over 1 year

-11.31%

-8.94%

-2.37%

Max Drawdown (3Y)

Largest decline over 3 years

-29.29%

-27.44%

-1.85%

Max Drawdown (5Y)

Largest decline over 5 years

-29.29%

-27.44%

-1.85%

Max Drawdown (10Y)

Largest decline over 10 years

-51.33%

—

—

Current Drawdown

Current decline from peak

-1.74%

-0.79%

-0.95%

Average Drawdown

Average peak-to-trough decline

-9.16%

-8.29%

-0.87%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.36%

2.64%

+0.72%

Volatility

RWJ vs. SVAL - Volatility Comparison

Invesco S&P SmallCap 600 Revenue ETF (RWJ) has a higher volatility of 4.09% compared to iShares US Small Cap Value Factor ETF (SVAL) at 3.19%. This indicates that RWJ's price experiences larger fluctuations and is considered to be riskier than SVAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

RWJSVALDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.09%

3.19%

+0.90%

Volatility (6M)

Calculated over the trailing 6-month period

12.15%

10.99%

+1.16%

Volatility (1Y)

Calculated over the trailing 1-year period

18.69%

17.03%

+1.66%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.49%

22.01%

+1.48%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

26.06%

23.04%

+3.02%

RWJ vs. SVAL - Expense Ratio Comparison

RWJ has a 0.39% expense ratio, which is higher than SVAL's 0.20% expense ratio.

Dividends

RWJ vs. SVAL - Dividend Comparison

RWJ's dividend yield for the trailing twelve months is around 1.00%, less than SVAL's 2.04% yield.

PositionTTM20252024202320222021202020192018201720162015
RWJ
Invesco S&P SmallCap 600 Revenue ETF		1.00%1.11%1.15%1.34%1.02%0.61%0.89%1.22%1.44%1.11%0.60%0.74%
SVAL
iShares US Small Cap Value Factor ETF		2.04%2.33%1.82%2.25%2.09%2.33%0.28%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

With a correlation of 0.92, RWJ and SVAL move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

RWJ has higher volatility (4.09%) compared to SVAL (3.19%). In terms of maximum drawdown, RWJ dropped -55.97% vs SVAL's -27.44%.

On 5-year performance, RWJ leads with 10.85% vs 9.86% for SVAL. On fees, SVAL is cheaper at 0.20% per year. On volatility, SVAL has been the lower-risk option at 3.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, RWJ has performed better with a 10.85% return vs 9.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SVAL is cheaper with a 0.20% expense ratio, compared with 0.39% for RWJ.

SVAL has the higher dividend yield at 2.04%, compared with 1.00% for RWJ.

RWJ tracks S&P SmallCap 600 Revenue-Weighted Index, while SVAL tracks Russell 2000 Focused Value Select Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.39% for RWJ and 0.20% for SVAL.

SVAL currently has the higher Sharpe Ratio (2.41 vs 2.16), 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.

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