RZV vs. RZG

Last updated Jun 25, 2026

RZV (Invesco S&P SmallCap 600® Pure Value ETF) and RZG (Invesco S&P SmallCap 600® Pure Growth ETF) are both exchange-traded funds - RZV is a Small Cap Value Equities fund tracking the S&P Small Cap 600 Pure Value, while RZG is a Small Cap Growth Equities fund tracking the S&P Small Cap 600 Pure Growth. Both are passively managed. Over the past 10 years, RZV returned 11.29%/yr vs 11.02%/yr for RZG. Their correlation of 0.81 suggests significant overlap in exposure. Both charge a 0.35% expense ratio.

Performance

RZV vs. RZG - Performance Comparison

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

Returns By Period

In the year-to-date period, RZV achieves a 22.56% return, which is significantly lower than RZG's 28.86% return. Both investments have delivered pretty close results over the past 10 years, with RZV having a 11.29% annualized return and RZG not far behind at 11.02%.

RZV

• 1D: 1.27%
• 1M: 6.80%
• YTD: 22.56%
• 6M: 21.05%
• 1Y: 41.93%
• 3Y*: 19.27%
• 5Y*: 9.95%
• 10Y*: 11.29%

RZG

• 1D: 1.10%
• 1M: 9.84%
• YTD: 28.86%
• 6M: 24.63%
• 1Y: 40.41%
• 3Y*: 20.79%
• 5Y*: 6.19%
• 10Y*: 11.02%

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

RZV vs. RZG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RZV Invesco S&P SmallCap 600® Pure Value ETF	22.56%	8.65%	5.06%	22.97%	-6.80%	45.95%	-3.88%	22.29%	-19.66%	1.25%
RZG Invesco S&P SmallCap 600® Pure Growth ETF	28.86%	10.22%	9.84%	19.15%	-29.00%	21.01%	17.76%	14.25%	-8.70%	19.18%

Correlation

The correlation between RZV and RZG is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since Mar 7, 2006	0.81

The correlation between RZV and RZG has been stable across timeframes, ranging from 0.79 to 0.84 - a consistent structural relationship.

RZV vs. RZG - Sectors Allocation Comparison

Sectors	RZV	RZG
Consumer Cyclical	25.9%	9.1%
Industrials	15.9%	16.8%
Technology	10.5%	18.4%
Energy	8.8%	2.7%
Healthcare	8.4%	22.7%
Consumer Defensive	7.6%	5.4%
Financial Services	7.4%	15.4%
Basic Materials	6.2%	0.4%
Real Estate	4.8%	5.5%
Communication Services	4.0%	3.5%
Utilities	0.4%	0.4%

Return for Risk

RZV vs. RZG — Risk / Return Rank

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

RZV

RZV Risk / Return Rank: 69
RZV Sharpe Ratio Rank: 71
RZV Sortino Ratio Rank: 72
RZV Omega Ratio Rank: 63
RZV Calmar Ratio Rank: 74
RZV Martin Ratio Rank: 67

RZG

RZG Risk / Return Rank: 80
RZG Sharpe Ratio Rank: 76
RZG Sortino Ratio Rank: 80
RZG Omega Ratio Rank: 69
RZG Calmar Ratio Rank: 89
RZG Martin Ratio Rank: 86

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.

RZV vs. RZG - 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 Invesco S&P SmallCap 600® Pure Growth ETF (RZG). 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	RZG	Difference
Sharpe ratio: Return per unit of total volatility	2.03	2.14	-0.11
Sortino ratio: Return per unit of downside risk	2.88	3.13	-0.24
Omega ratio: Gain probability vs. loss probability	1.34	1.36	-0.02
Calmar ratio: Return relative to maximum drawdown	3.35	4.71	-1.35
Martin ratio: Return relative to average drawdown	10.89	15.91	-5.02

RZV vs. RZG - Sharpe Ratio Comparison

The current RZV Sharpe Ratio is 2.03, which is comparable to the RZG Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of RZV and RZG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

RZV vs. RZG - Drawdown Comparison

The maximum RZV drawdown since its inception was -77.11%, which is greater than RZG's maximum drawdown of -58.52%. Use the drawdown chart below to compare losses from any high point for RZV and RZG.

Drawdown Indicators

	RZV	RZG	Difference
Max Drawdown Largest peak-to-trough decline	-77.11%	-58.52%	-18.59%
Max Drawdown (1Y) Largest decline over 1 year	-12.56%	-8.63%	-3.93%
Max Drawdown (3Y) Largest decline over 3 years	-29.81%	-25.73%	-4.08%
Max Drawdown (5Y) Largest decline over 5 years	-29.81%	-38.33%	+8.52%
Max Drawdown (10Y) Largest decline over 10 years	-60.42%	-54.02%	-6.40%
Current Drawdown Current decline from peak	-0.83%	0.00%	-0.83%
Average Drawdown Average peak-to-trough decline	-13.57%	-12.09%	-1.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.86%	2.55%	+1.31%

Volatility

RZV vs. RZG - Volatility Comparison

Invesco S&P SmallCap 600® Pure Value ETF (RZV) and Invesco S&P SmallCap 600® Pure Growth ETF (RZG) have volatilities of 5.22% and 5.47%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RZV	RZG	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.22%	5.47%	-0.25%
Volatility (6M) Calculated over the trailing 6-month period	14.12%	14.17%	-0.05%
Volatility (1Y) Calculated over the trailing 1-year period	20.76%	18.97%	+1.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.32%	23.04%	+1.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.99%	24.65%	+2.34%

RZV vs. RZG - Expense Ratio Comparison

Both RZV and RZG have an expense ratio of 0.35%.

Dividends

RZV vs. RZG - Dividend Comparison

RZV's dividend yield for the trailing twelve months is around 1.44%, more than RZG's 0.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RZG Invesco S&P SmallCap 600® Pure Growth ETF	0.44%	0.37%	0.95%	1.43%	1.59%	0.22%	0.49%	0.70%	0.46%	0.44%	0.65%	0.70%
RZV Invesco S&P SmallCap 600® Pure Value ETF	1.44%	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

Can I hold both RZV and RZG in my portfolio?

RZV and RZG have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RZV or RZG?

RZG has higher volatility (5.47%) compared to RZV (5.22%). In terms of maximum drawdown, RZV dropped -77.11% vs RZG's -58.52%.

Which ETF is better, RZV or RZG?

On 10-year performance, RZV leads with 11.29% vs 11.02% for RZG. Both ETFs have the same 0.35% expense ratio. On volatility, RZV has been the lower-risk option at 5.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RZV or RZG?

Over the 10-year period, RZV has performed better with a 11.29% return vs 11.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RZV or RZG?

RZV and RZG have the same expense ratio: 0.35% per year.

Which ETF pays a higher dividend yield, RZV or RZG?

RZV has the higher dividend yield at 1.44%, compared with 0.44% for RZG.

What is the main difference between RZV and RZG?

RZV is categorized as Small Cap Value Equities, while RZG is Small Cap Growth Equities. RZV tracks S&P Small Cap 600 Pure Value, while RZG tracks S&P Small Cap 600 Pure Growth.

Which has better risk-adjusted returns?

RZG currently has the higher Sharpe Ratio (2.14 vs 2.03), 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.