ETF Evaluator:
Invesco S&P SmallCap 600® Pure Value ETF (RZV)
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(as of Jul 30)
Best Performing in Small Value Over the Last Year
| 46.7% | Harbor SMID Cap Value ETF (EPSV) |
| 45.4% | EA Bridgeway Omni Small-Cap Value ETF (BSVO) |
| 44.7% | Invesco S&P SmallCap 600® Pure Value ETF (RZV) |
| 43.5% | Avantis US Small Cap Equity ETF (AVSC) |
| 43.0% | Vanguard Russell 2000 Value ETF (VTWV) |
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ETF Details
Invesco S&P SmallCap 600® Pure Value ETF Overview
Invesco S&P SmallCap 600® Pure Value ETF (RZV) is a passively managed U.S. Equity Small Value exchange-traded fund (ETF). Invesco launched the ETF in 2006.
The investment seeks to track the investment results (before fees and expenses) of the S&P SmallCap 600® Pure Value Index (the "underlying index").
The fund generally will invest at least 90% of its total assets in securities that comprise the underlying index. The underlying index is composed of a subset of securities from the S&P SmallCap 600® Index that exhibit strong value characteristics.
About Invesco S&P SmallCap 600® Pure Value ETF (RZV)
There are 3 members of the management team with an average tenure of 7.43 years: Peter Hubbard (2018), Michael Jeanette (2018) and Pratik Doshi (2020). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: S&P Composite 1500 TR USD index with a weighting of 100% and S&P SmallCap 600 Pure Value TR USD index with a weighting of 100%. Invesco S&P SmallCap 600® Pure Value ETF has 157 securities in its portfolio. The top 10 holdings constitute 16.8% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Invesco S&P SmallCap 600® Pure Value ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Invesco S&P SmallCap 600® Pure Value ETF has 3.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 96.2% There is 3.9% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Invesco S&P SmallCap 600® Pure Value ETF has -0.0% of the portfolio in cash.
Assets Under Management
The fund has $284 million in total assets, which is below the $2 billion average for the Small Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
RZV Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Invesco S&P SmallCap 600® Pure Value ETF expense ratio is below average compared to funds in the Small Value category. Invesco S&P SmallCap 600® Pure Value ETF has an expense ratio of 0.35%, which is 26% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Invesco S&P SmallCap 600® Pure Value ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 61% for the Small Value category.
Recently, in the month of June 2026, Invesco S&P SmallCap 600® Pure Value ETF returned 7.7%, which earned it a grade of A, as the Small Value category had an average return of 4.6%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Invesco S&P SmallCap 600® Pure Value ETF has a trailing yield of 1.39%, which is below the 1.78% category average.
The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Invesco S&P SmallCap 600® Pure Value ETF Grades
Year to date, the ETF has returned 26.3%, 8.2 percentage points better than the category, which translates into a grade of A. The fund has returned 44.7% over the past year (grade of A), 18.5% over the past three years (grade of A) and 11.0% per year over the past five years (grade of A) and 11.5% per year over the past 10 years (grade of B).
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RZV Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| RZV Return (NAV) | 7.7% | 20.1% | 44.7% | 18.5% | 11.0% | 11.5% |
| RZV Return (Price) | 7.9% | 20.3% | 44.6% | 18.5% | 11.0% | 11.5% |
| NAV +/- Price Return | -0.152% | -0.178% | 0.038% | 0.033% | 0.006% | -0.027% |
| Small Value Avg | 4.6% | 13.4% | 30.2% | 15.0% | 8.0% | 10.5% |
| RZV Grade (NAV) | A | A | A | A | A | B |
| +/- Category (NAV) | 3.1% | 6.8% | 14.5% | 3.6% | 3.0% | 0.9% |
| RZV Tax-Cost Ratio | na | na | 0.7% | 0.5% | 0.5% | 0.4% |
RZV Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| RZV Return (NAV) | 26.3% | 8.5% | 5.2% | 22.9% | -6.8% | 46.0% | -4.3% | 22.7% | -19.5% | 1.1% | 33.6% |
| RZV Return (Price) | 26.4% | 8.6% | 5.1% | 23.0% | -6.8% | 46.0% | -3.9% | 22.3% | -19.7% | 1.2% | 33.9% |
| NAV +/- Price Ret | 0.001% | 0.010% | -0.021% | 0.003% | 0.004% | -0.001% | -0.092% | -1.6% | 0.7% | 11.1% | 0.9% |
| Small Value Avg | 18.1% | 6.8% | 7.8% | 17.3% | -10.6% | 32.4% | 3.3% | 21.6% | -12.0% | 9.8% | 29.7% |
| RZV Grade (NAV) | A | B | D | A | B | A | F | B | F | F | A |
| +/- Category | 8.2% | 1.8% | -2.6% | 5.6% | 3.8% | 13.6% | -7.6% | 1.1% | -7.5% | -8.7% | 3.9% |
| Risk Measures | |
| Beta: | 1.16 |
| R-Squared: | 44% |
| Standard Deviation: | 23.0% |
| Category Risk Index: | 1.24 |
| Category Risk Rating: | High |
| Total Risk Index: | 1.89 |
| Total Risk Rating: | High |
| Portfolio Characteristics | |
| Yield: | 1.4% |
| Total Assets: | $ 285 Mil |
| Share Class Assets: | $ 285 Mil |
| Turnover: | na |
| Expense Ratio: | 0.35% |
| Index Fund: | Yes |
| Index Tracked: | S&P Composite 1500 TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 8.2 years | |||
| Average Tenure: 7.4 years | |||
| Managers (Year): Hubbard Peter (2018), Jeanette Michael (2018), Doshi Pratik (2020) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 157 |
| % in Top 10 Holdings: | 16.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 3.9% |
Portfolio Allocation |
|
| Domestic Stock: | 96.2% |
| Foreign Stock: | 3.9% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | -0.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Invesco |
| Phone Number: | 800-983-0903 |
| Website: | www.invescopowershares.com |
| Inception Date: | March 1, 2006 |
Expenses and Fees
| Expense Ratio (%): | 0.35% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.47% |
