RZV vs. USVM

Last updated Jun 24, 2026

RZV (Invesco S&P SmallCap 600® Pure Value ETF) and USVM (VictoryShares US Small Mid Cap Value Momentum ETF) are both exchange-traded funds - RZV is a Small Cap Value Equities fund tracking the S&P Small Cap 600 Pure Value, while USVM is a Momentum fund tracking the Nasdaq Victory US Small Mid Cap Value Momentum Index. Both are passively managed. Over the past 5 years, RZV returned 9.58%/yr vs 10.06%/yr for USVM. Their correlation of 0.89 suggests significant overlap in exposure. RZV charges 0.35%/yr vs 0.29%/yr for USVM.

Performance

RZV vs. USVM - 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 VictoryShares US Small Mid Cap Value Momentum ETF (USVM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RZV achieves a 21.03% return, which is significantly higher than USVM's 18.75% 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%

USVM

• 1D: 0.05%
• 1M: 4.06%
• YTD: 18.75%
• 6M: 16.97%
• 1Y: 32.76%
• 3Y*: 20.77%
• 5Y*: 10.06%
• 10Y*: —

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

RZV vs. USVM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RZV Invesco S&P SmallCap 600® Pure Value ETF	21.03%	8.65%	5.06%	22.97%	-6.80%	45.95%	-3.88%	22.29%	-19.66%	4.35%
USVM VictoryShares US Small Mid Cap Value Momentum ETF	18.75%	10.56%	16.59%	18.90%	-13.23%	24.44%	11.56%	21.65%	-9.39%	2.06%

Correlation

The correlation between RZV and USVM is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (All Time) Calculated using the full available price history since Oct 26, 2017	0.89

The correlation between RZV and USVM has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.

RZV vs. USVM - Sectors Allocation Comparison

Sectors	RZV	USVM
Consumer Cyclical	25.9%	11.3%
Industrials	15.9%	12.4%
Technology	10.5%	12.5%
Energy	8.8%	4.0%
Healthcare	8.4%	11.3%
Consumer Defensive	7.6%	4.8%
Financial Services	7.4%	21.6%
Basic Materials	6.2%	1.6%
Real Estate	4.8%	12.1%
Communication Services	4.0%	2.5%
Utilities	0.4%	5.9%

Return for Risk

RZV vs. USVM — Risk / Return Rank

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

RZV

RZV Risk / Return Rank: 64
RZV Sharpe Ratio Rank: 65
RZV Sortino Ratio Rank: 66
RZV Omega Ratio Rank: 57
RZV Calmar Ratio Rank: 70
RZV Martin Ratio Rank: 63

USVM

USVM Risk / Return Rank: 75
USVM Sharpe Ratio Rank: 73
USVM Sortino Ratio Rank: 76
USVM Omega Ratio Rank: 68
USVM Calmar Ratio Rank: 80
USVM Martin Ratio Rank: 80

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. USVM - 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 VictoryShares US Small Mid Cap Value Momentum ETF (USVM). 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	USVM	Difference
Sharpe ratio: Return per unit of total volatility	2.01	2.20	-0.19
Sortino ratio: Return per unit of downside risk	2.86	3.18	-0.32
Omega ratio: Gain probability vs. loss probability	1.34	1.38	-0.05
Calmar ratio: Return relative to maximum drawdown	3.31	3.94	-0.62
Martin ratio: Return relative to average drawdown	10.76	14.82	-4.06

RZV vs. USVM - Sharpe Ratio Comparison

The current RZV Sharpe Ratio is 2.01, which is comparable to the USVM Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of RZV and USVM, 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. USVM - Drawdown Comparison

The maximum RZV drawdown since its inception was -77.11%, which is greater than USVM's maximum drawdown of -42.38%. Use the drawdown chart below to compare losses from any high point for RZV and USVM.

Drawdown Indicators

	RZV	USVM	Difference
Max Drawdown Largest peak-to-trough decline	-77.11%	-42.38%	-34.73%
Max Drawdown (1Y) Largest decline over 1 year	-12.56%	-8.36%	-4.20%
Max Drawdown (3Y) Largest decline over 3 years	-29.81%	-24.34%	-5.47%
Max Drawdown (5Y) Largest decline over 5 years	-29.81%	-25.27%	-4.54%
Max Drawdown (10Y) Largest decline over 10 years	-60.42%	—	—
Current Drawdown Current decline from peak	-2.07%	-0.24%	-1.83%
Average Drawdown Average peak-to-trough decline	-13.57%	-7.85%	-5.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.86%	2.22%	+1.64%

Volatility

RZV vs. USVM - Volatility Comparison

Invesco S&P SmallCap 600® Pure Value ETF (RZV) has a higher volatility of 5.25% compared to VictoryShares US Small Mid Cap Value Momentum ETF (USVM) at 4.10%. This indicates that RZV's price experiences larger fluctuations and is considered to be riskier than USVM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RZV	USVM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.25%	4.10%	+1.15%
Volatility (6M) Calculated over the trailing 6-month period	14.08%	11.04%	+3.04%
Volatility (1Y) Calculated over the trailing 1-year period	20.74%	14.96%	+5.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.32%	19.64%	+4.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.99%	21.97%	+5.02%

RZV vs. USVM - Expense Ratio Comparison

RZV has a 0.35% expense ratio, which is higher than USVM's 0.29% expense ratio.

Dividends

RZV vs. USVM - Dividend Comparison

RZV's dividend yield for the trailing twelve months is around 1.45%, less than USVM's 1.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
USVM VictoryShares US Small Mid Cap Value Momentum ETF	1.77%	1.84%	1.75%	1.63%	1.43%	0.70%	1.21%	1.77%	1.43%	0.65%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RZV and USVM in my portfolio?

RZV and USVM have a correlation of 0.89, 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 USVM?

RZV has higher volatility (5.25%) compared to USVM (4.10%). In terms of maximum drawdown, RZV dropped -77.11% vs USVM's -42.38%.

Which ETF is better, RZV or USVM?

On 5-year performance, USVM leads with 10.06% vs 9.58% for RZV. On fees, USVM is cheaper at 0.29% per year. On volatility, USVM has been the lower-risk option at 4.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RZV or USVM?

Over the 5-year period, USVM has performed better with a 10.06% return vs 9.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RZV or USVM?

USVM is cheaper with a 0.29% expense ratio, compared with 0.35% for RZV.

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

USVM has the higher dividend yield at 1.77%, compared with 1.45% for RZV.

What is the main difference between RZV and USVM?

RZV is categorized as Small Cap Value Equities, while USVM is Momentum. RZV tracks S&P Small Cap 600 Pure Value, while USVM tracks Nasdaq Victory US Small Mid Cap Value Momentum Index. They also come from different issuers: Invesco and Victory Capital. Their fees differ too: 0.35% for RZV and 0.29% for USVM.

Which has better risk-adjusted returns?

USVM currently has the higher Sharpe Ratio (2.20 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.