RZV vs. TCV

Last updated Jul 15, 2026

RZV (Invesco S&P SmallCap 600® Pure Value ETF) and TCV (Towle Value ETF) are both Small Cap Value Equities funds. RZV is passively managed, while TCV is actively managed. Their correlation of 0.81 suggests significant overlap in exposure. RZV charges 0.35%/yr vs 0.85%/yr for TCV.

Performance

RZV vs. TCV - 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 Towle Value ETF (TCV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RZV achieves a 25.28% return, which is significantly lower than TCV's 28.81% return.

RZV

• 1D: 0.01%
• 1M: 1.36%
• 6M: 16.90%
• YTD: 25.28%
• 1Y: 36.09%
• 3Y*: 17.47%
• 5Y*: 11.91%
• 10Y*: 10.52%

TCV

• 1D: 1.25%
• 1M: 2.37%
• 6M: 16.54%
• YTD: 28.81%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RZV vs. TCV - Yearly Performance Comparison

	2026 (YTD)	2025
RZV Invesco S&P SmallCap 600® Pure Value ETF	25.28%	11.96%
TCV Towle Value ETF	28.81%	2.99%

Correlation

The correlation between RZV and TCV is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 17, 2025	0.81

Return for Risk

RZV vs. TCV — Risk / Return Rank

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

RZV

RZV Risk / Return Rank: 68
RZV Sharpe Ratio Rank: 69
RZV Sortino Ratio Rank: 71
RZV Omega Ratio Rank: 62
RZV Calmar Ratio Rank: 72
RZV Martin Ratio Rank: 66

TCV

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. TCV - 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 Towle Value ETF (TCV). 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	TCV	Difference
Sharpe ratio: Return per unit of total volatility	1.77	—	—
Sortino ratio: Return per unit of downside risk	2.56	—	—
Omega ratio: Gain probability vs. loss probability	1.30	—	—
Calmar ratio: Return relative to maximum drawdown	2.89	—	—
Martin ratio: Return relative to average drawdown	9.42	—	—

Drawdowns

RZV vs. TCV - Drawdown Comparison

The maximum RZV drawdown since its inception was -77.11%, which is greater than TCV's maximum drawdown of -12.23%. Use the drawdown chart below to compare losses from any high point for RZV and TCV.

Drawdown Indicators

	RZV	TCV	Difference
Max Drawdown Largest peak-to-trough decline	-77.11%	-12.23%	-64.88%
Max Drawdown (1Y) Largest decline over 1 year	-12.56%	—	—
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 Drawdown Current decline from peak	-1.12%	0.00%	-1.12%
Average Drawdown Average peak-to-trough decline	-13.53%	-3.31%	-10.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.85%	—	—

Volatility

Volatility by Period

	RZV	TCV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.98%	—	—
Volatility (6M) Calculated over the trailing 6-month period	13.89%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	20.51%	21.20%	-0.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.21%	21.20%	+3.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.89%	21.20%	+5.69%

RZV vs. TCV - Expense Ratio Comparison

RZV has a 0.35% expense ratio, which is lower than TCV's 0.85% expense ratio.

Dividends

RZV vs. TCV - Dividend Comparison

RZV's dividend yield for the trailing twelve months is around 1.41%, more than TCV's 0.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RZV Invesco S&P SmallCap 600® Pure Value ETF	1.41%	1.59%	1.14%	1.13%	1.43%	0.86%	0.63%	1.03%	2.03%	1.02%	0.46%	1.24%
TCV Towle Value ETF	0.56%	0.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RZV and TCV in my portfolio?

RZV and TCV have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RZV or TCV?

On fees, RZV is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RZV or TCV?

RZV is cheaper with a 0.35% expense ratio, compared with 0.85% for TCV.

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

RZV has the higher dividend yield at 1.41%, compared with 0.56% for TCV.

What is the main difference between RZV and TCV?

They also come from different issuers: Invesco and Towle. Their fees differ too: 0.35% for RZV and 0.85% for TCV.