RZG vs. IVOG
RZG (Invesco S&P SmallCap 600® Pure Growth ETF) and IVOG (Vanguard S&P Mid-Cap 400 Growth ETF) are both exchange-traded funds - RZG is a Small Cap Growth Equities fund tracking the S&P Small Cap 600 Pure Growth, while IVOG is a Mid Cap Growth Equities fund tracking the S&P MidCap 400 Growth Index. Both are passively managed. Over the past 10 years, RZG returned 10.19%/yr vs 11.14%/yr for IVOG. Their correlation of 0.89 suggests significant overlap in exposure. RZG charges 0.35%/yr vs 0.10%/yr for IVOG.
Performance
RZG vs. IVOG - Performance Comparison
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Returns By Period
In the year-to-date period, RZG achieves a 29.59% return, which is significantly higher than IVOG's 17.75% return. Over the past 10 years, RZG has underperformed IVOG with an annualized return of 10.19%, while IVOG has yielded a comparatively higher 11.14% annualized return.
RZG
- 1D
- 0.91%
- 1M
- 3.77%
- 6M
- 23.45%
- YTD
- 29.59%
- 1Y
- 35.93%
- 3Y*
- 19.06%
- 5Y*
- 7.32%
- 10Y*
- 10.19%
IVOG
- 1D
- 0.68%
- 1M
- -0.99%
- 6M
- 11.61%
- YTD
- 17.75%
- 1Y
- 23.66%
- 3Y*
- 15.12%
- 5Y*
- 8.45%
- 10Y*
- 11.14%
RZG vs. IVOG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RZG Invesco S&P SmallCap 600® Pure Growth ETF | 29.59% | 10.22% | 9.84% | 19.15% | -29.00% | 21.01% | 17.76% | 14.25% | -8.70% | 19.18% |
IVOG Vanguard S&P Mid-Cap 400 Growth ETF | 17.75% | 7.34% | 15.62% | 17.36% | -19.08% | 18.85% | 22.60% | 26.13% | -10.58% | 19.90% |
Correlation
The correlation between RZG and IVOG is 0.86, 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 | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010 | 0.89 |
The correlation between RZG and IVOG has been stable across timeframes, ranging from 0.86 to 0.92 - a consistent structural relationship.
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Return for Risk
RZG vs. IVOG — Risk / Return Rank
RZG
IVOG
RZG vs. IVOG - 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 Vanguard S&P Mid-Cap 400 Growth ETF (IVOG). 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.
| RZG | IVOG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.57 | ||
| Sortino ratioReturn per unit of downside risk | +0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.24 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 4.19 | 2.45 | +1.73 |
| Martin ratioReturn relative to average drawdown | 13.97 | 9.35 | +4.62 |
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Drawdowns
RZG vs. IVOG - Drawdown Comparison
The maximum RZG drawdown since its inception was -58.52%, which is greater than IVOG's maximum drawdown of -39.32%. Use the drawdown chart below to compare losses from any high point for RZG and IVOG.
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Drawdown Indicators
| RZG | IVOG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.52% | -39.32% | -19.20% |
Max Drawdown (1Y)Largest decline over 1 year | -8.63% | -9.69% | +1.06% |
Max Drawdown (3Y)Largest decline over 3 years | -25.73% | -25.61% | -0.12% |
Max Drawdown (5Y)Largest decline over 5 years | -38.33% | -29.31% | -9.02% |
Max Drawdown (10Y)Largest decline over 10 years | -54.02% | -39.32% | -14.70% |
Current DrawdownCurrent decline from peak | -3.38% | -3.25% | -0.13% |
Average DrawdownAverage peak-to-trough decline | -12.06% | -5.85% | -6.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.58% | 2.54% | +0.04% |
Volatility
RZG vs. IVOG - Volatility Comparison
Invesco S&P SmallCap 600® Pure Growth ETF (RZG) has a higher volatility of 4.95% compared to Vanguard S&P Mid-Cap 400 Growth ETF (IVOG) at 4.70%. This indicates that RZG's price experiences larger fluctuations and is considered to be riskier than IVOG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RZG | IVOG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.95% | 4.70% | +0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 14.35% | 13.90% | +0.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.06% | 17.88% | +1.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.04% | 20.72% | +2.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.62% | 20.59% | +4.03% |
RZG vs. IVOG - Expense Ratio Comparison
RZG has a 0.35% expense ratio, which is higher than IVOG's 0.10% expense ratio.
Dividends
RZG vs. IVOG - Dividend Comparison
RZG's dividend yield for the trailing twelve months is around 0.43%, less than IVOG's 0.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IVOG Vanguard S&P Mid-Cap 400 Growth ETF | 0.55% | 0.64% | 0.79% | 1.15% | 1.05% | 0.47% | 0.74% | 1.17% | 1.01% | 0.93% | 1.11% | 1.04% |
RZG Invesco S&P SmallCap 600® Pure Growth ETF | 0.43% | 0.37% | 0.95% | 1.43% | 1.59% | 0.22% | 0.49% | 0.70% | 0.46% | 0.44% | 0.65% | 0.70% |
Frequently Asked Questions
RZG and IVOG have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RZG has higher volatility (4.95%) compared to IVOG (4.70%). In terms of maximum drawdown, RZG dropped -58.52% vs IVOG's -39.32%.
On 10-year performance, IVOG leads with 11.14% vs 10.19% for RZG. On fees, IVOG is cheaper at 0.10% per year. On volatility, IVOG has been the lower-risk option at 4.70%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IVOG has performed better with a 11.14% return vs 10.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVOG is cheaper with a 0.10% expense ratio, compared with 0.35% for RZG.
IVOG has the higher dividend yield at 0.55%, compared with 0.43% for RZG.
RZG is categorized as Small Cap Growth Equities, while IVOG is Mid Cap Growth Equities. RZG tracks S&P Small Cap 600 Pure Growth, while IVOG tracks S&P MidCap 400 Growth Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.35% for RZG and 0.10% for IVOG.
RZG currently has the higher Sharpe Ratio (1.89 vs 1.33), 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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