RZG vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco S&P SmallCap 600® Pure Growth ETF (RZG) and S&P 500 Index (^GSPC).

RZG is a passively managed fund by Invesco that tracks the performance of the S&P Small Cap 600 Pure Growth. It was launched on Mar 1, 2006.

Performance

RZG vs. ^GSPC - Performance Comparison

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

RZG vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RZG Invesco S&P SmallCap 600® Pure Growth ETF	6.17%	10.22%	9.84%	19.15%	-29.00%	21.01%	17.76%	14.25%	-8.70%	19.18%
^GSPC S&P 500 Index	-3.95%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Returns By Period

In the year-to-date period, RZG achieves a 6.17% return, which is significantly higher than ^GSPC's -3.95% return. Over the past 10 years, RZG has underperformed ^GSPC with an annualized return of 8.94%, while ^GSPC has yielded a comparatively higher 12.24% annualized return.

RZG

• 1D: 1.15%
• 1M: -2.97%
• YTD: 6.17%
• 6M: 6.39%
• 1Y: 23.98%
• 3Y*: 14.53%
• 5Y*: 2.54%
• 10Y*: 8.94%

^GSPC

• 1D: 0.72%
• 1M: -4.45%
• YTD: -3.95%
• 6M: -2.02%
• 1Y: 16.73%
• 3Y*: 16.96%
• 5Y*: 10.34%
• 10Y*: 12.24%

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

Return for Risk

RZG vs. ^GSPC — Risk / Return Rank

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

RZG

RZG Risk / Return Rank: 61
RZG Sharpe Ratio Rank: 57
RZG Sortino Ratio Rank: 61
RZG Omega Ratio Rank: 53
RZG Calmar Ratio Rank: 65
RZG Martin Ratio Rank: 68

^GSPC

^GSPC Risk / Return Rank: 67
^GSPC Sharpe Ratio Rank: 63
^GSPC Sortino Ratio Rank: 64
^GSPC Omega Ratio Rank: 69
^GSPC Calmar Ratio Rank: 60
^GSPC Martin Ratio Rank: 77

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.

RZG vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap 600® Pure Growth ETF (RZG) and S&P 500 Index (^GSPC). 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.

	RZG	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	1.06	0.92	+0.14
Sortino ratio Return per unit of downside risk	1.64	1.41	+0.22
Omega ratio Gain probability vs. loss probability	1.21	1.21	-0.01
Calmar ratio Return relative to maximum drawdown	1.78	1.41	+0.36
Martin ratio Return relative to average drawdown	7.41	6.61	+0.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RZG vs. ^GSPC - Sharpe Ratio Comparison

The current RZG Sharpe Ratio is 1.06, which is comparable to the ^GSPC Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of RZG and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	RZG	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.06	0.92	+0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.11	0.61	-0.50
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.36	0.68	-0.32
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.46	-0.11

Correlation

The correlation between RZG and ^GSPC is 0.76, 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.

Drawdowns

RZG vs. ^GSPC - Drawdown Comparison

The maximum RZG drawdown since its inception was -58.52%, roughly equal to the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for RZG and ^GSPC.

Drawdown Indicators

	RZG	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-58.52%	-56.78%	-1.74%
Max Drawdown (1Y) Largest decline over 1 year	-13.42%	-12.14%	-1.28%
Max Drawdown (5Y) Largest decline over 5 years	-38.33%	-25.43%	-12.90%
Max Drawdown (10Y) Largest decline over 10 years	-54.02%	-33.92%	-20.10%
Current Drawdown Current decline from peak	-3.61%	-5.78%	+2.17%
Average Drawdown Average peak-to-trough decline	-12.22%	-10.75%	-1.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.22%	2.60%	+0.62%

Volatility

RZG vs. ^GSPC - Volatility Comparison

Invesco S&P SmallCap 600® Pure Growth ETF (RZG) has a higher volatility of 8.32% compared to S&P 500 Index (^GSPC) at 5.37%. This indicates that RZG's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RZG	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.32%	5.37%	+2.95%
Volatility (6M) Calculated over the trailing 6-month period	14.08%	9.55%	+4.53%
Volatility (1Y) Calculated over the trailing 1-year period	22.71%	18.33%	+4.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.08%	16.90%	+6.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.61%	18.05%	+6.56%