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SVAL vs. RWJ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SVAL vs. RWJ

Last updated Aug 6, 2026
Documentation

SVAL (iShares US Small Cap Value Factor ETF) and RWJ (Invesco S&P SmallCap 600 Revenue ETF) are both Small Cap Value Equities funds - SVAL tracks the Russell 2000 Focused Value Select Index while RWJ tracks the S&P SmallCap 600 Revenue-Weighted Index. Both are passively managed. Over the past 5 years, SVAL returned 9.94%/yr vs 11.24%/yr for RWJ. Their correlation of 0.91 means they have usually moved in the same direction. SVAL charges 0.20%/yr vs 0.39%/yr for RWJ.

Performance

SVAL vs. RWJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares US Small Cap Value Factor ETF (SVAL) and Invesco S&P SmallCap 600 Revenue ETF (RWJ). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both investments are quite close, with SVAL having a 27.79% return and RWJ slightly higher at 28.32%.

SVAL

1D
-0.50%
1M
4.30%
6M
16.15%
YTD
27.79%
1Y
42.77%
3Y*
16.93%
5Y*
9.94%
10Y*
—
ALL TIME*
17.98%

RWJ

1D
-1.05%
1M
4.28%
6M
16.47%
YTD
28.32%
1Y
43.01%
3Y*
17.28%
5Y*
11.24%
10Y*
13.57%
ALL TIME*
12.65%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

RWJ

Invesco S&P SmallCap 600 Revenue ETF
$4.99M$5.42M$5.09M

SVAL

iShares US Small Cap Value Factor ETF
$647.59K$587.59K$597.55K

SVAL vs. RWJ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
SVAL
iShares US Small Cap Value Factor ETF		27.79%8.23%7.54%12.27%-10.15%33.18%29.82%
RWJ
Invesco S&P SmallCap 600 Revenue ETF		28.32%7.75%11.81%16.21%-10.97%52.82%32.45%

Correlation

The correlation between SVAL and RWJ is 0.92, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.92

Correlation (3Y)
Balances recent behavior with more history.

0.91

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.93

Correlation (All Time)
Calculated using the full available price history since Oct 29, 2020

0.91

The correlation between SVAL and RWJ has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.

SVAL vs. RWJ - Sectors Allocation Comparison

Sectors
SVAL
RWJ

Financial Services

22.7%
11.6%

Industrials

12.9%
15.3%

Healthcare

12.0%
11.0%

Consumer Cyclical

11.8%
25.4%

Technology

10.4%
10.3%

Energy

10.0%
6.5%

Real Estate

4.7%
4.1%

Basic Materials

4.7%
4.7%

Consumer Defensive

4.3%
7.7%

Utilities

3.4%
0.9%

Communication Services

3.0%
2.6%

Financial Services

SVAL
22.7%
RWJ
11.6%

Industrials

SVAL
12.9%
RWJ
15.3%

Healthcare

SVAL
12.0%
RWJ
11.0%

Consumer Cyclical

SVAL
11.8%
RWJ
25.4%

Technology

SVAL
10.4%
RWJ
10.3%

Energy

SVAL
10.0%
RWJ
6.5%

Real Estate

SVAL
4.7%
RWJ
4.1%

Basic Materials

SVAL
4.7%
RWJ
4.7%

Consumer Defensive

SVAL
4.3%
RWJ
7.7%

Utilities

SVAL
3.4%
RWJ
0.9%

Communication Services

SVAL
3.0%
RWJ
2.6%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares US Small Cap Value Factor ETF

Invesco S&P SmallCap 600 Revenue ETF

Often compared with SVAL:
SVAL vs. AVUVSVAL vs. XSVMSVAL vs. SPYVSVAL vs. IJSSVAL vs. SLYVSVAL vs. IWOSVAL vs. VDC
Often compared with RWJ:
RWJ vs. AVUVXRWJ vs. XSVMRWJ vs. RWKRWJ vs. RZVRWJ vs. CALFRWJ vs. RFVRWJ vs. FSMD

Return for Risk

SVAL vs. RWJ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
SVAL
SVAL Risk / Return Rank: 9292
Overall Rank
SVAL Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
SVAL Sortino Ratio Rank: 9393
Sortino Ratio Rank
SVAL Omega Ratio Rank: 9090
Omega Ratio Rank
SVAL Calmar Ratio Rank: 9393
Calmar Ratio Rank
SVAL Martin Ratio Rank: 9191
Martin Ratio Rank
RWJ
RWJ Risk / Return Rank: 8787
Overall Rank
RWJ Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
RWJ Sortino Ratio Rank: 8989
Sortino Ratio Rank
RWJ Omega Ratio Rank: 8585
Omega Ratio Rank
RWJ Calmar Ratio Rank: 8787
Calmar Ratio Rank
RWJ Martin Ratio Rank: 8383
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SVAL vs. RWJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares US Small Cap Value Factor ETF (SVAL) and Invesco S&P SmallCap 600 Revenue ETF (RWJ). 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.

SVALRWJDifference
Sharpe ratioReturn per unit of total volatility
2.55
2.33

+0.21

Sortino ratioReturn per unit of downside risk
3.71
3.37

+0.34

Omega ratioGain probability vs. loss probability

1.45

1.40

+0.05

Calmar ratioReturn relative to maximum drawdown

4.81

3.82

+0.98

Martin ratioReturn relative to average drawdown

16.23

12.84

+3.40

SVAL vs. RWJ - Sharpe Ratio Comparison

The current SVAL Sharpe Ratio is 2.55, which is comparable to the RWJ Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of SVAL and RWJ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

SVAL vs. RWJ - Drawdown Comparison

The maximum SVAL drawdown since its inception was -27.44%, smaller than the maximum RWJ drawdown of -55.97%. Use the drawdown chart below to compare losses from any high point for SVAL and RWJ.

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Drawdown Indicators

SVALRWJDifference

Max Drawdown

Largest peak-to-trough decline

-27.44%

-55.97%

+28.53%

Max Drawdown (1Y)

Largest decline over 1 year

-8.94%

-11.31%

+2.37%

Max Drawdown (3Y)

Largest decline over 3 years

-27.44%

-29.29%

+1.85%

Max Drawdown (5Y)

Largest decline over 5 years

-27.44%

-29.29%

+1.85%

Max Drawdown (10Y)

Largest decline over 10 years

—

-51.33%

—

Current Drawdown

Current decline from peak

-0.50%

-1.05%

+0.55%

Average Drawdown

Average peak-to-trough decline

-8.27%

-9.16%

+0.89%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.64%

3.36%

-0.72%

Volatility

SVAL vs. RWJ - Volatility Comparison

The current volatility for iShares US Small Cap Value Factor ETF (SVAL) is 3.49%, while Invesco S&P SmallCap 600 Revenue ETF (RWJ) has a volatility of 4.65%. This indicates that SVAL experiences smaller price fluctuations and is considered to be less risky than RWJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SVALRWJDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.49%

4.65%

-1.16%

Volatility (6M)

Calculated over the trailing 6-month period

11.03%

12.32%

-1.29%

Volatility (1Y)

Calculated over the trailing 1-year period

16.88%

18.52%

-1.64%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.00%

23.48%

-1.48%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.03%

26.06%

-3.03%

SVAL vs. RWJ - Expense Ratio Comparison

SVAL has a 0.20% expense ratio, which is lower than RWJ's 0.39% expense ratio.

Dividends

SVAL vs. RWJ - Dividend Comparison

SVAL's dividend yield for the trailing twelve months is around 2.00%, more than RWJ's 0.98% yield.

PositionTTM20252024202320222021202020192018201720162015
RWJ
Invesco S&P SmallCap 600 Revenue ETF		0.98%1.11%1.15%1.34%1.02%0.61%0.89%1.22%1.44%1.11%0.60%0.74%
SVAL
iShares US Small Cap Value Factor ETF		2.00%2.33%1.82%2.25%2.09%2.33%0.28%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

With a correlation of 0.92, SVAL and RWJ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

RWJ has higher volatility (4.65%) compared to SVAL (3.49%). In terms of maximum drawdown, SVAL dropped -27.44% vs RWJ's -55.97%.

On 5-year performance, RWJ leads with 11.24% vs 9.94% for SVAL. On fees, SVAL is cheaper at 0.20% per year. On volatility, SVAL has been the lower-risk option at 3.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, RWJ has performed better with a 11.24% return vs 9.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SVAL is cheaper with a 0.20% expense ratio, compared with 0.39% for RWJ.

SVAL has the higher dividend yield at 2.00%, compared with 0.98% for RWJ.

SVAL tracks Russell 2000 Focused Value Select Index, while RWJ tracks S&P SmallCap 600 Revenue-Weighted Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.20% for SVAL and 0.39% for RWJ.

SVAL currently has the higher Sharpe Ratio (2.55 vs 2.33), 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.

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