VTV vs. RWL

Last updated Jun 4, 2026

VTV (Vanguard Value ETF) and RWL (Invesco S&P 500 Revenue ETF) are both exchange-traded funds - VTV is a Large Cap Value Equities fund tracking the CRSP US Large Cap Value Index, while RWL is a S&P 500 fund tracking the S&P 500 Revenue-Weighted Index. Both are passively managed. Over the past 10 years, VTV returned 12.48%/yr vs 13.96%/yr for RWL. Their correlation of 0.95 suggests significant overlap in exposure. VTV charges 0.04%/yr vs 0.39%/yr for RWL.

Performance

VTV vs. RWL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Value ETF (VTV) and Invesco S&P 500 Revenue ETF (RWL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VTV achieves a 12.30% return, which is significantly higher than RWL's 11.07% return. Over the past 10 years, VTV has underperformed RWL with an annualized return of 12.48%, while RWL has yielded a comparatively higher 13.96% annualized return.

VTV

• 1D: 0.01%
• 1M: 4.23%
• YTD: 12.30%
• 6M: 13.12%
• 1Y: 26.25%
• 3Y*: 18.28%
• 5Y*: 11.24%
• 10Y*: 12.48%

RWL

• 1D: -0.42%
• 1M: 3.13%
• YTD: 11.07%
• 6M: 11.66%
• 1Y: 26.76%
• 3Y*: 19.96%
• 5Y*: 12.89%
• 10Y*: 13.96%

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

VTV vs. RWL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VTV Vanguard Value ETF	12.30%	15.27%	15.95%	9.32%	-2.09%	26.53%	2.33%	25.66%	-5.47%	17.15%
RWL Invesco S&P 500 Revenue ETF	11.07%	18.65%	16.45%	17.43%	-6.00%	30.29%	9.14%	27.83%	-7.74%	20.34%

Correlation

The correlation between VTV and RWL is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Feb 25, 2008	0.95

The correlation between VTV and RWL has been stable across timeframes, ranging from 0.90 to 0.95 - a consistent structural relationship.

VTV vs. RWL - Sectors Allocation Comparison

Sectors	VTV	RWL
Financial Services	22.3%	15.4%
Healthcare	14.5%	19.5%
Industrials	14.0%	8.6%
Technology	13.4%	13.7%
Consumer Defensive	9.4%	11.1%
Energy	8.1%	6.6%
Utilities	5.2%	2.4%
Consumer Cyclical	4.0%	12.3%
Communication Services	3.3%	7.5%
Basic Materials	3.1%	2.1%
Real Estate	2.8%	0.9%

Return for Risk

VTV vs. RWL — Risk / Return Rank

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

VTV

VTV Risk / Return Rank: 79
VTV Sharpe Ratio Rank: 78
VTV Sortino Ratio Rank: 82
VTV Omega Ratio Rank: 77
VTV Calmar Ratio Rank: 79
VTV Martin Ratio Rank: 79

RWL

RWL Risk / Return Rank: 81
RWL Sharpe Ratio Rank: 81
RWL Sortino Ratio Rank: 82
RWL Omega Ratio Rank: 79
RWL Calmar Ratio Rank: 78
RWL Martin Ratio Rank: 83

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.

VTV vs. RWL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Value ETF (VTV) and Invesco S&P 500 Revenue ETF (RWL). 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.

	VTV	RWL	Difference
Sharpe ratio: Return per unit of total volatility	2.61	2.69	-0.08
Sortino ratio: Return per unit of downside risk	3.74	3.76	-0.02
Omega ratio: Gain probability vs. loss probability	1.47	1.48	-0.01
Calmar ratio: Return relative to maximum drawdown	4.15	4.05	+0.10
Martin ratio: Return relative to average drawdown	15.69	17.12	-1.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VTV vs. RWL - Sharpe Ratio Comparison

The current VTV Sharpe Ratio is 2.61, which is comparable to the RWL Sharpe Ratio of 2.69. The chart below compares the historical Sharpe Ratios of VTV and RWL, 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

	VTV	RWL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.61	2.69	-0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	0.89	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.75	0.83	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.58	-0.07

Drawdowns

VTV vs. RWL - Drawdown Comparison

The maximum VTV drawdown since its inception was -59.27%, which is greater than RWL's maximum drawdown of -54.83%. Use the drawdown chart below to compare losses from any high point for VTV and RWL.

Drawdown Indicators

	VTV	RWL	Difference
Max Drawdown Largest peak-to-trough decline	-59.27%	-54.83%	-4.44%
Max Drawdown (1Y) Largest decline over 1 year	-6.35%	-6.64%	+0.29%
Max Drawdown (3Y) Largest decline over 3 years	-14.52%	-14.39%	-0.13%
Max Drawdown (5Y) Largest decline over 5 years	-17.04%	-17.49%	+0.45%
Max Drawdown (10Y) Largest decline over 10 years	-36.78%	-36.04%	-0.74%
Current Drawdown Current decline from peak	0.00%	-0.57%	+0.57%
Average Drawdown Average peak-to-trough decline	-7.87%	-6.45%	-1.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.68%	1.57%	+0.11%

Volatility

VTV vs. RWL - Volatility Comparison

Vanguard Value ETF (VTV) has a higher volatility of 2.52% compared to Invesco S&P 500 Revenue ETF (RWL) at 2.12%. This indicates that VTV's price experiences larger fluctuations and is considered to be riskier than RWL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VTV	RWL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.52%	2.12%	+0.40%
Volatility (6M) Calculated over the trailing 6-month period	7.55%	7.12%	+0.43%
Volatility (1Y) Calculated over the trailing 1-year period	10.11%	10.00%	+0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.88%	14.50%	-0.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.67%	16.86%	-0.19%

VTV vs. RWL - Expense Ratio Comparison

VTV has a 0.04% expense ratio, which is lower than RWL's 0.39% expense ratio.

Dividends

VTV vs. RWL - Dividend Comparison

VTV's dividend yield for the trailing twelve months is around 1.86%, more than RWL's 1.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RWL Invesco S&P 500 Revenue ETF	1.25%	1.35%	1.43%	1.60%	1.62%	1.35%	1.75%	1.87%	1.99%	1.60%	1.71%	1.97%
VTV Vanguard Value ETF	1.86%	2.05%	2.31%	2.46%	2.52%	2.15%	2.56%	2.50%	2.73%	2.29%	2.44%	2.60%

Frequently Asked Questions

Can I hold both VTV and RWL in my portfolio?

With a correlation of 0.90, VTV and RWL 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.

Which is riskier, VTV or RWL?

VTV has higher volatility (2.52%) compared to RWL (2.12%). In terms of maximum drawdown, VTV dropped -59.27% vs RWL's -54.83%.

Which ETF is better, VTV or RWL?

On 10-year performance, RWL leads with 13.96% vs 12.48% for VTV. On fees, VTV is cheaper at 0.04% per year. On volatility, RWL has been the lower-risk option at 2.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VTV or RWL?

Over the 10-year period, RWL has performed better with a 13.96% return vs 12.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VTV or RWL?

VTV is cheaper with a 0.04% expense ratio, compared with 0.39% for RWL.

Which ETF pays a higher dividend yield, VTV or RWL?

VTV has the higher dividend yield at 1.86%, compared with 1.25% for RWL.

What is the main difference between VTV and RWL?

VTV is categorized as Large Cap Value Equities, while RWL is S&P 500. VTV tracks CRSP US Large Cap Value Index, while RWL tracks S&P 500 Revenue-Weighted Index. They also come from different issuers: Vanguard and Invesco. Their fees differ too: 0.04% for VTV and 0.39% for RWL.

Which has better risk-adjusted returns?

RWL currently has the higher Sharpe Ratio (2.69 vs 2.61), 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.