RZV vs. MMKT
RZV (Invesco S&P SmallCap 600® Pure Value ETF) and MMKT (Texas Capital Government Money Market ETF) are both exchange-traded funds - RZV is a Small Cap Value Equities fund tracking the S&P Small Cap 600 Pure Value, while MMKT is a Money Market fund actively managed by Texas Capital. RZV is passively managed, while MMKT is actively managed. Over the past year, RZV returned 41.43% vs 3.78% for MMKT. At a 0.01 correlation, their price movements are largely independent. RZV charges 0.35%/yr vs 0.20%/yr for MMKT.
Performance
RZV vs. MMKT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, RZV achieves a 21.03% return, which is significantly higher than MMKT's 1.64% return.
RZV
- 1D
- -0.09%
- 1M
- 5.47%
- YTD
- 21.03%
- 6M
- 20.88%
- 1Y
- 41.43%
- 3Y*
- 18.77%
- 5Y*
- 9.58%
- 10Y*
- 11.15%
MMKT
- 1D
- 0.02%
- 1M
- 0.27%
- YTD
- 1.64%
- 6M
- 1.74%
- 1Y
- 3.78%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
RZV vs. MMKT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
RZV Invesco S&P SmallCap 600® Pure Value ETF | 21.03% | 8.65% | 2.62% |
MMKT Texas Capital Government Money Market ETF | 1.64% | 4.13% | 1.22% |
Correlation
The correlation between RZV and MMKT is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.11 |
Correlation (All Time) Calculated using the full available price history since Sep 25, 2024 | 0.01 |
The correlation between RZV and MMKT shifts across timeframes, from -0.11 (1 year) to 0.01 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
RZV vs. MMKT — Risk / Return Rank
RZV
MMKT
RZV vs. MMKT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap 600® Pure Value ETF (RZV) and Texas Capital Government Money Market ETF (MMKT). 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.
| RZV | MMKT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -14.75 | ||
| Sortino ratioReturn per unit of downside risk | -59.85 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 15.48 | -14.15 |
| Calmar ratioReturn relative to maximum drawdown | 3.31 | 152.14 | -148.82 |
| Martin ratioReturn relative to average drawdown | 10.76 | 912.59 | -901.83 |
Loading charts...
Drawdowns
RZV vs. MMKT - Drawdown Comparison
The maximum RZV drawdown since its inception was -77.11%, which is greater than MMKT's maximum drawdown of -0.04%. Use the drawdown chart below to compare losses from any high point for RZV and MMKT.
Loading charts...
Drawdown Indicators
| RZV | MMKT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.11% | -0.04% | -77.07% |
Max Drawdown (1Y)Largest decline over 1 year | -12.56% | -0.02% | -12.54% |
Max Drawdown (3Y)Largest decline over 3 years | -29.81% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -29.81% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -60.42% | — | — |
Current DrawdownCurrent decline from peak | -2.07% | 0.00% | -2.07% |
Average DrawdownAverage peak-to-trough decline | -13.57% | -0.00% | -13.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.86% | 0.00% | +3.86% |
Volatility
RZV vs. MMKT - Volatility Comparison
Invesco S&P SmallCap 600® Pure Value ETF (RZV) has a higher volatility of 5.25% compared to Texas Capital Government Money Market ETF (MMKT) at 0.05%. This indicates that RZV's price experiences larger fluctuations and is considered to be riskier than MMKT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| RZV | MMKT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.25% | 0.05% | +5.20% |
Volatility (6M)Calculated over the trailing 6-month period | 14.08% | 0.13% | +13.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.74% | 0.23% | +20.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.32% | 0.23% | +24.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.99% | 0.23% | +26.76% |
RZV vs. MMKT - Expense Ratio Comparison
RZV has a 0.35% expense ratio, which is higher than MMKT's 0.20% expense ratio.
Dividends
RZV vs. MMKT - Dividend Comparison
RZV's dividend yield for the trailing twelve months is around 1.45%, less than MMKT's 3.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MMKT Texas Capital Government Money Market ETF | 3.71% | 3.98% | 1.07% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
RZV Invesco S&P SmallCap 600® Pure Value ETF | 1.45% | 1.59% | 1.14% | 1.13% | 1.43% | 0.86% | 0.63% | 1.03% | 2.03% | 1.02% | 0.46% | 1.24% |
Frequently Asked Questions
RZV and MMKT have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RZV has higher volatility (5.25%) compared to MMKT (0.05%). In terms of maximum drawdown, RZV dropped -77.11% vs MMKT's -0.04%.
On 1-year performance, RZV leads with 41.43% vs 3.78% for MMKT. On fees, MMKT is cheaper at 0.20% per year. On volatility, MMKT has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, RZV has performed better with a 41.43% return vs 3.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MMKT is cheaper with a 0.20% expense ratio, compared with 0.35% for RZV.
MMKT has the higher dividend yield at 3.71%, compared with 1.45% for RZV.
RZV is categorized as Small Cap Value Equities, while MMKT is Money Market. They also come from different issuers: Invesco and Texas Capital. Their fees differ too: 0.35% for RZV and 0.20% for MMKT.
MMKT currently has the higher Sharpe Ratio (16.75 vs 2.01), 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.
Find the right allocation for RZV and MMKT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer