RZV vs SPY
Invesco S&P Smallcap 600 Pure Value ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. RZV delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | RZV | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.35% | 0.09% | |
| AUM | $308M | $821.1B | |
| Dividend Yield | 1.40% | 1.01% | |
| Holdings | 158 | 505 | |
| YTD Return | +26.51% | +12.68% | |
| 1Y Return | +35.47% | +21.82% | |
| 3Y Return (annualized) | +19.16% | +21.98% | |
| 5Y Return (annualized) | +12.07% | +12.89% | |
| Volatility (annualized) | 29.1% | 15.3% | |
| Max Drawdown | -77.9% | -56.5% | |
| Fund Family | Invesco (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Mar 1, 2006 | Jan 22, 1993 |
RZV vs SPY Performance
Invesco S&P Smallcap 600 Pure Value ETF (RZV) is a ETF from Invesco (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year RZV returned +35.47% while SPY returned +21.82%. Year to date, RZV is up 26.51% versus a gain of 12.68% for SPY.
Over three years, RZV compounded at +19.16% per year against +21.98% for SPY; over five years the annualized figures are +12.07% and +12.89% respectively. Across the full 21-year window we track, SPY has the edge at +8.81% annualized vs +7.39%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
RZV has been the more volatile fund, with annualized monthly volatility of 29.1% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -77.9% for RZV and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
RZV charges 0.35% per year while SPY charges 0.09%. On a $10,000 position that is $35 vs $9 annually, a gap of $26 per year that compounds over a long holding period. On income, RZV currently yields 1.40% against 1.01% for SPY.
Holdings Overlap
RZV and SPY share 0 holdings out of 660 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, RZV or SPY?
RZV has an expense ratio of 0.35% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $26 per year of difference.
Which performed better, RZV or SPY?
Over the past year RZV returned +35.47% vs +21.82% for SPY, so RZV leads on 1-year performance. Over the longest common window we track (21 years), RZV annualized +7.39% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, RZV or SPY?
RZV has been the more volatile fund at 29.1% annualized versus 15.3% for SPY. Worst drawdown: RZV -77.9% vs SPY -56.5%.
Should I hold both RZV and SPY?
RZV and SPY have a monthly-return correlation of 0.77, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between RZV and SPY?
RZV and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 660 unique securities.
Which pays a higher dividend, RZV or SPY?
RZV yields 1.40% while SPY yields 1.01%, so RZV currently pays the higher dividend yield.
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