RWK vs. HSMV
Compare and contrast key facts about Invesco S&P MidCap 400 Revenue ETF (RWK) and First Trust Horizon Managed Volatility Small/Mid ETF (HSMV).
RWK and HSMV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. RWK is a passively managed fund by Invesco that tracks the performance of the S&P MidCap 400 Revenue-Weighted Index. It was launched on Feb 22, 2008. HSMV is an actively managed fund by First Trust. It was launched on Apr 6, 2020.
Performance
RWK vs. HSMV - Performance Comparison
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RWK vs. HSMV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
RWK Invesco S&P MidCap 400 Revenue ETF | 1.75% | 10.27% | 11.94% | 23.76% | -8.19% | 34.31% | 70.82% |
HSMV First Trust Horizon Managed Volatility Small/Mid ETF | 1.79% | 1.57% | 13.17% | 5.01% | -9.44% | 23.72% | 34.70% |
Returns By Period
The year-to-date returns for both investments are quite close, with RWK having a 1.75% return and HSMV slightly higher at 1.79%.
RWK
- 1D
- 2.65%
- 1M
- -4.67%
- YTD
- 1.75%
- 6M
- 3.23%
- 1Y
- 20.47%
- 3Y*
- 13.66%
- 5Y*
- 9.50%
- 10Y*
- 11.65%
HSMV
- 1D
- 0.83%
- 1M
- -5.20%
- YTD
- 1.79%
- 6M
- 0.63%
- 1Y
- 2.50%
- 3Y*
- 7.20%
- 5Y*
- 4.19%
- 10Y*
- —
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RWK vs. HSMV - Expense Ratio Comparison
RWK has a 0.39% expense ratio, which is lower than HSMV's 0.80% expense ratio.
Return for Risk
RWK vs. HSMV — Risk / Return Rank
RWK
HSMV
RWK vs. HSMV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P MidCap 400 Revenue ETF (RWK) and First Trust Horizon Managed Volatility Small/Mid ETF (HSMV). 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.
| RWK | HSMV | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.94 | 0.18 | +0.75 |
Sortino ratioReturn per unit of downside risk | 1.48 | 0.36 | +1.12 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.05 | +0.15 |
Calmar ratioReturn relative to maximum drawdown | 1.46 | 0.30 | +1.15 |
Martin ratioReturn relative to average drawdown | 5.14 | 1.11 | +4.03 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| RWK | HSMV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.94 | 0.18 | +0.75 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 0.28 | +0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.67 | -0.22 |
Correlation
The correlation between RWK and HSMV is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
RWK vs. HSMV - Dividend Comparison
RWK's dividend yield for the trailing twelve months is around 1.25%, less than HSMV's 2.03% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RWK Invesco S&P MidCap 400 Revenue ETF | 1.25% | 1.25% | 1.11% | 1.05% | 1.18% | 0.85% | 0.96% | 1.09% | 1.22% | 0.99% | 1.30% | 0.92% |
HSMV First Trust Horizon Managed Volatility Small/Mid ETF | 2.03% | 2.01% | 1.43% | 1.43% | 1.26% | 0.76% | 0.80% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
RWK vs. HSMV - Drawdown Comparison
The maximum RWK drawdown since its inception was -56.49%, which is greater than HSMV's maximum drawdown of -19.16%. Use the drawdown chart below to compare losses from any high point for RWK and HSMV.
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Drawdown Indicators
| RWK | HSMV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.49% | -19.16% | -37.33% |
Max Drawdown (1Y)Largest decline over 1 year | -14.17% | -10.57% | -3.60% |
Max Drawdown (5Y)Largest decline over 5 years | -24.58% | -19.16% | -5.42% |
Max Drawdown (10Y)Largest decline over 10 years | -46.20% | — | — |
Current DrawdownCurrent decline from peak | -7.69% | -5.59% | -2.10% |
Average DrawdownAverage peak-to-trough decline | -7.60% | -5.71% | -1.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.01% | 2.89% | +1.12% |
Volatility
RWK vs. HSMV - Volatility Comparison
Invesco S&P MidCap 400 Revenue ETF (RWK) has a higher volatility of 5.93% compared to First Trust Horizon Managed Volatility Small/Mid ETF (HSMV) at 3.53%. This indicates that RWK's price experiences larger fluctuations and is considered to be riskier than HSMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RWK | HSMV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.93% | 3.53% | +2.40% |
Volatility (6M)Calculated over the trailing 6-month period | 12.12% | 7.15% | +4.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.97% | 13.63% | +8.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.14% | 15.02% | +6.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.93% | 16.19% | +6.74% |