RZV vs. VTWV

Last updated Jun 4, 2026

RZV (Invesco S&P SmallCap 600® Pure Value ETF) and VTWV (Vanguard Russell 2000 Value ETF) are both Small Cap Value Equities funds - RZV tracks the S&P Small Cap 600 Pure Value while VTWV tracks the Russell 2000 Value Index. Both are passively managed. Over the past 10 years, RZV returned 10.65%/yr vs 10.32%/yr for VTWV. Their correlation of 0.89 suggests significant overlap in exposure. RZV charges 0.35%/yr vs 0.10%/yr for VTWV.

Performance

RZV vs. VTWV - 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 Vanguard Russell 2000 Value ETF (VTWV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with RZV having a 17.78% return and VTWV slightly lower at 17.44%. Both investments have delivered pretty close results over the past 10 years, with RZV having a 10.65% annualized return and VTWV not far behind at 10.32%.

RZV

• 1D: -1.04%
• 1M: 3.13%
• YTD: 17.78%
• 6M: 15.59%
• 1Y: 42.30%
• 3Y*: 17.71%
• 5Y*: 8.85%
• 10Y*: 10.65%

VTWV

• 1D: -1.22%
• 1M: 2.86%
• YTD: 17.44%
• 6M: 16.55%
• 1Y: 41.49%
• 3Y*: 17.89%
• 5Y*: 6.66%
• 10Y*: 10.32%

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

RZV vs. VTWV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RZV Invesco S&P SmallCap 600® Pure Value ETF	17.78%	8.65%	5.06%	22.97%	-6.80%	45.95%	-3.88%	22.29%	-19.66%	1.25%
VTWV Vanguard Russell 2000 Value ETF	17.44%	12.72%	7.83%	14.67%	-14.46%	27.90%	4.88%	22.44%	-13.34%	8.06%

Correlation

The correlation between RZV and VTWV 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	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Sep 23, 2010	0.89

The correlation between RZV and VTWV has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.

RZV vs. VTWV - Sectors Allocation Comparison

Sectors	RZV	VTWV
Consumer Cyclical	26.1%	9.2%
Industrials	15.7%	11.9%
Energy	9.7%	8.9%
Technology	8.9%	10.0%
Healthcare	8.8%	10.2%
Consumer Defensive	7.7%	2.2%
Financial Services	7.3%	23.9%
Basic Materials	6.4%	5.4%
Real Estate	5.0%	10.4%
Communication Services	4.2%	2.7%
Utilities	0.4%	5.2%

Return for Risk

RZV vs. VTWV — Risk / Return Rank

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

RZV

RZV Risk / Return Rank: 61
RZV Sharpe Ratio Rank: 61
RZV Sortino Ratio Rank: 62
RZV Omega Ratio Rank: 55
RZV Calmar Ratio Rank: 68
RZV Martin Ratio Rank: 61

VTWV

VTWV Risk / Return Rank: 74
VTWV Sharpe Ratio Rank: 69
VTWV Sortino Ratio Rank: 70
VTWV Omega Ratio Rank: 63
VTWV Calmar Ratio Rank: 85
VTWV Martin Ratio Rank: 81

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. VTWV - 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 Vanguard Russell 2000 Value ETF (VTWV). 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.

	RZV	VTWV	Difference
Sharpe ratio Return per unit of total volatility	2.06	2.30	-0.24
Sortino ratio Return per unit of downside risk	2.93	3.24	-0.31
Omega ratio Gain probability vs. loss probability	1.35	1.39	-0.04
Calmar ratio Return relative to maximum drawdown	3.38	4.83	-1.44
Martin ratio Return relative to average drawdown	11.02	16.46	-5.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RZV vs. VTWV - Sharpe Ratio Comparison

The current RZV Sharpe Ratio is 2.06, which is comparable to the VTWV Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of RZV and VTWV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	RZV	VTWV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.06	2.30	-0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.31	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	0.44	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	0.49	-0.22

Drawdowns

RZV vs. VTWV - Drawdown Comparison

The maximum RZV drawdown since its inception was -77.11%, which is greater than VTWV's maximum drawdown of -45.73%. Use the drawdown chart below to compare losses from any high point for RZV and VTWV.

Drawdown Indicators

	RZV	VTWV	Difference
Max Drawdown Largest peak-to-trough decline	-77.11%	-45.73%	-31.38%
Max Drawdown (1Y) Largest decline over 1 year	-12.56%	-8.64%	-3.92%
Max Drawdown (3Y) Largest decline over 3 years	-29.81%	-26.72%	-3.09%
Max Drawdown (5Y) Largest decline over 5 years	-29.81%	-26.72%	-3.09%
Max Drawdown (10Y) Largest decline over 10 years	-60.42%	-45.73%	-14.69%
Current Drawdown Current decline from peak	-1.04%	-1.43%	+0.39%
Average Drawdown Average peak-to-trough decline	-13.60%	-7.81%	-5.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.85%	2.53%	+1.32%

Volatility

RZV vs. VTWV - Volatility Comparison

Invesco S&P SmallCap 600® Pure Value ETF (RZV) and Vanguard Russell 2000 Value ETF (VTWV) have volatilities of 5.21% and 5.06%, 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	VTWV	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.21%	5.06%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	13.66%	12.15%	+1.51%
Volatility (1Y) Calculated over the trailing 1-year period	20.69%	18.17%	+2.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.37%	21.72%	+2.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.04%	23.54%	+3.50%

RZV vs. VTWV - Expense Ratio Comparison

RZV has a 0.35% expense ratio, which is higher than VTWV's 0.10% expense ratio.

Dividends

RZV vs. VTWV - Dividend Comparison

RZV's dividend yield for the trailing twelve months is around 1.35%, less than VTWV's 1.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RZV Invesco S&P SmallCap 600® Pure Value ETF	1.35%	1.59%	1.14%	1.13%	1.43%	0.86%	0.63%	1.03%	2.03%	1.02%	0.46%	1.24%
VTWV Vanguard Russell 2000 Value ETF	1.58%	1.79%	1.78%	2.02%	2.07%	1.60%	1.49%	1.82%	2.04%	1.63%	1.57%	2.03%

Frequently Asked Questions

Can I hold both RZV and VTWV in my portfolio?

RZV and VTWV 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 VTWV?

RZV has higher volatility (5.21%) compared to VTWV (5.06%). In terms of maximum drawdown, RZV dropped -77.11% vs VTWV's -45.73%.

Which ETF is better, RZV or VTWV?

On 10-year performance, RZV leads with 10.65% vs 10.32% for VTWV. On fees, VTWV is cheaper at 0.10% per year. On volatility, VTWV has been the lower-risk option at 5.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RZV or VTWV?

Over the 10-year period, RZV has performed better with a 10.65% return vs 10.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RZV or VTWV?

VTWV is cheaper with a 0.10% expense ratio, compared with 0.35% for RZV.

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

VTWV has the higher dividend yield at 1.58%, compared with 1.35% for RZV.

What is the main difference between RZV and VTWV?

RZV tracks S&P Small Cap 600 Pure Value, while VTWV tracks Russell 2000 Value Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.35% for RZV and 0.10% for VTWV.

Which has better risk-adjusted returns?

VTWV currently has the higher Sharpe Ratio (2.30 vs 2.06), 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.