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VBK vs. RZV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VBK vs. RZV

Last updated Jul 22, 2026
Documentation

VBK (Vanguard Small-Cap Growth ETF) and RZV (Invesco S&P SmallCap 600® Pure Value ETF) are both exchange-traded funds - VBK is a Small Cap Growth Equities fund tracking the CRSP US Small Cap Growth Index, while RZV is a Small Cap Value Equities fund tracking the S&P Small Cap 600 Pure Value. Both are passively managed. Over the past 10 years, VBK returned 11.08%/yr vs 11.01%/yr for RZV. Their correlation of 0.80 suggests significant overlap in exposure. VBK charges 0.05%/yr vs 0.35%/yr for RZV.

Performance

VBK vs. RZV - Performance Comparison

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

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Returns By Period

In the year-to-date period, VBK achieves a 15.49% return, which is significantly lower than RZV's 29.18% return. Both investments have delivered pretty close results over the past 10 years, with VBK having a 11.08% annualized return and RZV not far behind at 11.01%.

VBK

1D
1.50%
1M
-2.25%
6M
8.68%
YTD
15.49%
1Y
24.51%
3Y*
14.50%
5Y*
4.81%
10Y*
11.08%
ALL TIME*
9.87%

RZV

1D
1.21%
1M
6.00%
6M
20.71%
YTD
29.18%
1Y
43.62%
3Y*
18.03%
5Y*
13.12%
10Y*
11.01%
ALL TIME*
8.40%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VBK vs. RZV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VBK
Vanguard Small-Cap Growth ETF		15.49%8.50%16.50%21.45%-28.44%5.66%35.44%32.75%-5.70%21.87%
RZV
Invesco S&P SmallCap 600® Pure Value ETF		29.18%8.65%5.06%22.97%-6.80%45.95%-3.88%22.29%-19.66%1.25%

Correlation

The correlation between VBK and RZV is 0.67, 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

0.67

Correlation (3Y)
Calculated over the trailing 3-year period

0.75

Correlation (5Y)
Calculated over the trailing 5-year period

0.77

Correlation (10Y)
Calculated over the trailing 10-year period

0.74

Correlation (All Time)
Calculated using the full available price history since Mar 7, 2006

0.80

The correlation between VBK and RZV shifts across timeframes, from 0.67 (1 year) to 0.80 (all time), reflecting how their relationship changes across market environments.

VBK vs. RZV - Sectors Allocation Comparison

Sectors
VBK
RZV

Technology

27.1%
12.1%

Industrials

23.4%
15.7%

Healthcare

17.9%
8.8%

Consumer Cyclical

8.9%
23.9%

Financial Services

5.7%
7.7%

Real Estate

3.7%
4.6%

Communication Services

3.6%
3.4%

Energy

3.4%
7.4%

Basic Materials

3.1%
5.7%

Consumer Defensive

2.0%
10.4%

Utilities

1.1%
0.4%

Technology

VBK
27.1%
RZV
12.1%

Industrials

VBK
23.4%
RZV
15.7%

Healthcare

VBK
17.9%
RZV
8.8%

Consumer Cyclical

VBK
8.9%
RZV
23.9%

Financial Services

VBK
5.7%
RZV
7.7%

Real Estate

VBK
3.7%
RZV
4.6%

Communication Services

VBK
3.6%
RZV
3.4%

Energy

VBK
3.4%
RZV
7.4%

Basic Materials

VBK
3.1%
RZV
5.7%

Consumer Defensive

VBK
2.0%
RZV
10.4%

Utilities

VBK
1.1%
RZV
0.4%

Compare stocks, funds, or ETFs

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

Vanguard Small-Cap Growth ETF

Invesco S&P SmallCap 600® Pure Value ETF

Often compared with VBK:
VBK vs. VBVBK vs. VBRVBK vs. AVUVVBK vs. VOOVBK vs. IJRVBK vs. SCHAVBK vs. VIOG
Often compared with RZV:
RZV vs. AVUVRZV vs. RWJRZV vs. RPVRZV vs. VBRRZV vs. PSCCRZV vs. IJRRZV vs. SPY

Return for Risk

VBK vs. RZV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VBK
VBK Risk / Return Rank: 5151
Overall Rank
VBK Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
VBK Sortino Ratio Rank: 4646
Sortino Ratio Rank
VBK Omega Ratio Rank: 4343
Omega Ratio Rank
VBK Calmar Ratio Rank: 5858
Calmar Ratio Rank
VBK Martin Ratio Rank: 6060
Martin Ratio Rank
RZV
RZV Risk / Return Rank: 8484
Overall Rank
RZV Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
RZV Sortino Ratio Rank: 8787
Sortino Ratio Rank
RZV Omega Ratio Rank: 8080
Omega Ratio Rank
RZV Calmar Ratio Rank: 8585
Calmar Ratio Rank
RZV Martin Ratio Rank: 8181
Martin Ratio Rank
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.

VBK vs. RZV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap Growth ETF (VBK) and Invesco S&P SmallCap 600® Pure Value ETF (RZV). 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.

VBKRZVDifference
Sharpe ratioReturn per unit of total volatility
1.22
2.14

-0.92

Sortino ratioReturn per unit of downside risk
1.76
3.03

-1.26

Omega ratioGain probability vs. loss probability

1.21

1.36

-0.15

Calmar ratioReturn relative to maximum drawdown

2.15

3.49

-1.34

Martin ratioReturn relative to average drawdown

7.71

11.39

-3.68

VBK vs. RZV - Sharpe Ratio Comparison

The current VBK Sharpe Ratio is 1.22, which is lower than the RZV Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of VBK and RZV, 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

VBK vs. RZV - Drawdown Comparison

The maximum VBK drawdown since its inception was -58.68%, smaller than the maximum RZV drawdown of -77.11%. Use the drawdown chart below to compare losses from any high point for VBK and RZV.

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Drawdown Indicators

VBKRZVDifference

Max Drawdown

Largest peak-to-trough decline

-58.68%

-77.11%

+18.43%

Max Drawdown (1Y)

Largest decline over 1 year

-11.44%

-12.56%

+1.12%

Max Drawdown (3Y)

Largest decline over 3 years

-27.54%

-29.81%

+2.27%

Max Drawdown (5Y)

Largest decline over 5 years

-38.39%

-29.81%

-8.58%

Max Drawdown (10Y)

Largest decline over 10 years

-38.70%

-60.42%

+21.72%

Current Drawdown

Current decline from peak

-4.80%

-0.25%

-4.55%

Average Drawdown

Average peak-to-trough decline

-10.11%

-13.52%

+3.41%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.19%

3.84%

-0.65%

Volatility

VBK vs. RZV - Volatility Comparison

Vanguard Small-Cap Growth ETF (VBK) and Invesco S&P SmallCap 600® Pure Value ETF (RZV) have volatilities of 4.87% and 4.75%, 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.

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Volatility by Period

VBKRZVDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.87%

4.75%

+0.12%

Volatility (6M)

Calculated over the trailing 6-month period

15.76%

14.05%

+1.71%

Volatility (1Y)

Calculated over the trailing 1-year period

20.19%

20.47%

-0.28%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.63%

24.12%

-0.49%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.89%

26.90%

-4.01%

VBK vs. RZV - Expense Ratio Comparison

VBK has a 0.05% expense ratio, which is lower than RZV's 0.35% expense ratio.

Dividends

VBK vs. RZV - Dividend Comparison

VBK's dividend yield for the trailing twelve months is around 0.44%, less than RZV's 1.36% yield.

PositionTTM20252024202320222021202020192018201720162015
RZV
Invesco S&P SmallCap 600® Pure Value ETF		1.36%1.59%1.14%1.13%1.43%0.86%0.63%1.03%2.03%1.02%0.46%1.24%
VBK
Vanguard Small-Cap Growth ETF		0.44%0.54%0.54%0.68%0.55%0.36%0.44%0.57%0.79%0.82%1.08%0.98%

Frequently Asked Questions

VBK and RZV have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VBK has higher volatility (4.87%) compared to RZV (4.75%). In terms of maximum drawdown, VBK dropped -58.68% vs RZV's -77.11%.

On 10-year performance, VBK leads with 11.08% vs 11.01% for RZV. On fees, VBK is cheaper at 0.05% per year. On volatility, RZV has been the lower-risk option at 4.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, VBK has performed better with a 11.08% return vs 11.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VBK is cheaper with a 0.05% expense ratio, compared with 0.35% for RZV.

RZV has the higher dividend yield at 1.36%, compared with 0.44% for VBK.

VBK is categorized as Small Cap Growth Equities, while RZV is Small Cap Value Equities. VBK tracks CRSP US Small Cap Growth Index, while RZV tracks S&P Small Cap 600 Pure Value. They also come from different issuers: Vanguard and Invesco. Their fees differ too: 0.05% for VBK and 0.35% for RZV.

RZV currently has the higher Sharpe Ratio (2.14 vs 1.22), 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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