GRPZ vs IJR: Grades, Fees and Holdings Compared

Invesco S&P SmallCap 600 GARP ETF

GRPZDNYSE Arca

iShares Core S&P Small-Cap ETF

IJRANYSE Arca

Overlap

15.0%by weight

Expense ratio

IJR −0.29pt a year

GRPZ0.35%IJR0.06%

Avg volume · 30D

IJR 6231.8×the volume

GRPZ520IJR3.24M

GRPZ vs IJR Performance

Nov 7, 2025 – Nov 9, 2026

+24.0%GRPZ+21.7%IJR

Expense ratio: GRPZ 0.35%; IJR 0.06%, better
Fund size: GRPZ $3M; IJR $104B
1Y total return: GRPZ +24.0%, better; IJR +21.7%
Yield (12M): GRPZ 0.83%; IJR 1.21%, better
Holdings: GRPZ 89; IJR 608
Avg volume (30D): GRPZ 520 sh; IJR 3.24M sh, better
NAV per share: GRPZ $31.35; IJR $137.67
52W range

ETF.net Grade

Pillar letters and Scores for GRPZ, IJR, with each pillar’s weight
Pillar	GRPZ	IJR
Cost30% weight	F22	A90Higher
Mission25% weight	B61	A83Higher
Risk15% weight	B56Higher	C52
Tradability15% weight	D25	A74Higher
Holdings10% weight	D31	A86Higher
Durability5% weight	F13	A83Higher

Rank among S&P SmallCap 600 funds

How we build Categories ›

Same Category. GRPZ and IJR are both graded against the same 13 S&P SmallCap 600 funds, so their Grades compare head to head.

S&P SmallCap 600⁠

Category · 13 funds

See all 13 ›

IJR ranks 2nd and GRPZ 12th of 13 funds in the S&P SmallCap 600 Category.

Rank 1ASPSMState Street SPDR Portfolio S&P 600 Small Cap ETFScore 84
Rank 2AIJRiShares Core S&P Small-Cap ETFScore 79
Rank 3AVIOOVanguard S&P Small-Cap 600 ETFScore 69
Rank 11DRWJInvesco S&P SmallCap 600 Revenue ETFScore 39
Rank 12DGRPZInvesco S&P SmallCap 600 GARP ETFScore 37
Rank 13DSCOWPacer S&P SmallCap 600 Quality FCF Aristocrats ETFScore 34

Our read on each fund

ETF.net Research

GRPZDInvesco S&P SmallCap 600 GARP ETF

IJRAiShares Core S&P Small-Cap ETF

In short

GRPZ Most S&P SmallCap 600 funds hand you all 600 names. GRPZ runs that list through a growth-at-a-reasonable-price screen and keeps roughly 90 stocks that rank well on growth, quality and value.

IJR Small caps, but only the ones making money. IJR tracks the S&P SmallCap 600, an index that screens for positive earnings before a stock gets in, and it has been the big, heavily traded way to own that basket since 2000.

Stated mandate

GRPZ The Fund seeks exposure to the S&P SmallCap 600 GARP Index, investing at least 90% of assets in its constituent securities. The index selects small-cap stocks with relatively high quality and value composite scores.

IJR The fund seeks to track an index representing small-capitalization U.S. equities.

Why people hold it

GRPZ The GARP screen is the whole point: the index sorts the 600 on growth, then on a quality and value composite, and the fund holds the survivors, roughly 90 stocks.invesco.com
Tight mandate: at least 90% of assets sit in index constituents, so what you own is the rulebook, not a manager's judgment calls.
Three factors in one wrapper (growth, quality, value) tracking a mainstream S&P Dow Jones index, and it pays quarterly.

IJR The index runs a profitability screen: no positive earnings, no entry. The money-losing tail of the small-cap market never reaches the portfolio.spglobal.com
0.06% a year, against a 0.18% median for funds wrapping this same index. One of the strongest overall implementations in that peer group.
Trading since 2000 and now one of the largest, most actively traded S&P 600 funds available.
Roughly 700 US small-cap positions, cash paid out quarterly.

Worth knowing

GRPZ It charges 0.35%. Plain trackers of the same 600, such as SPSM, IJR and VIOO, have long sat among the cheapest funds on the market.
Small asset base and thin trading, so the spread you pay getting in and out can matter as much as the expense ratio.
Roughly 90 names instead of 600, and a 2024 launch: results can drift well away from the broad small-cap index, with little history to study.

IJR Cheaper twins exist on the identical index: SPSM charges 0.03%, VIOO 0.07%. On headline fee alone, IJR is not the low bid.
Small-cap stocks move more sharply than large caps, and this is straight index exposure with no hedge or cushion.ishares.com
The earnings screen cuts both ways. When speculative, unprofitable small caps run, this index simply isn't holding them.spglobal.com

Full GRPZ profile⁠

Full IJR profile⁠

GRPZ vs IJR Holdings

How GRPZ and IJR differ

Overlap by weight

15.0%

Shared holdings make up 97.7% of GRPZ and 15.0% of IJR.

Level by level

Holdings84 in both15.0%
Sector11 Sectors77.1%
Asset classStocks100%
Countryby domicile99.9%

Sector

Sector weights in GRPZ and IJR, widest gap first
Sector	Gap	GRPZ	IJR
Financials	GRPZ +9.2 points	28.2%	19.0%
Health Care	GRPZ +8.3 points	19.0%	10.7%
Industrials	IJR +6.0 points	11.7%	17.7%
Consumer Discretionary	IJR +5.3 points	9.0%	14.3%
Consumer Staples	GRPZ +5.2 points	9.5%	4.3%
Real Estate	IJR +3.5 points	3.3%	6.8%
Materials	IJR +3.1 points	1.0%	4.1%
Energy	IJR +2.2 points	3.4%	5.6%
Utilities	IJR +2.1 points	0.0%	2.1%
Communication	IJR +0.7 points	2.9%	3.6%
Technology	GRPZ +0.2 points	12.0%	11.8%

Country, concentration and asset class

Country by domicile

Country weights in GRPZ and IJR, widest gap first
Country	Gap	GRPZ	IJR
United States	GRPZ +0.1 points	100.0%	99.9%
Singapore	IJR +0.1 points	0.0%	0.1%
Hong Kong	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

GRPZ20.4%
IJR5.9%

Securities held

GRPZ88
IJR602

Asset class

GRPZ: Stocks
IJR: Stocks

Holdings

Only in GRPZ4
In both84
Only in IJR518

Only in GRPZ

4 securities, 2.3% of GRPZ by weight

ZoomInfo Technologies Inc1.25%
F&G Annuities & Life Inc0.95%
Invesco Government & Agency Portfolio0.12%
Securities Lending - Bnym0.00%

Only in IJR

518 securities, 83.5% of IJR by weight

Ryman Hospitality Properties Reit0.53%
Match Group Inc0.52%
Life Time Group Holdings0.52%
Viasat Inc0.51%
Victoria’s Secret0.50%
Protagonist Therapeutics0.50%
Epam Systems0.48%
Jackson Financial Class A0.48%
Alkermes0.45%
Pool0.45%
Etsy0.45%
Mohawk Industries0.45%
Lamb Weston Holdings0.44%
Ralliant0.44%
Eastman Chemical0.43%
Carmax Inc0.43%
Conagra Brands0.43%
Element Solutions Inc0.42%
Sm Energy0.42%
Macerich Reit0.41%
Builders Firstsource Inc0.39%
Jbt Marel0.39%
Molson Coors Brewing Class B0.38%
Zurn Elkay Water Solutions Corp0.37%
Teleflex0.37%
Matson Inc0.37%
Casella Waste Systems Class A0.36%
Ligand Pharmaceuticals0.36%
Gates Industrial PLC0.36%
Aci Worldwide0.35%
Essential Properties Realty Trust0.35%
Esco Technologies0.35%
Caesars Entertainment Inc0.35%
Stonex Group Inc0.34%
Victory Capital Holdings Class A0.34%
Box Inc Class A0.34%
Mobility Global Inc0.34%
Marketaxess Holdings0.33%
Karman Holdings Inc0.33%
Lincoln National Corp0.33%
Magnolia Oil Gas Corp Class A0.33%
Balchem0.32%
Atlantic Union Bankshares0.32%
Trade Desk Class A0.32%
Enpro0.32%
Ptc Therapeutics0.32%
Supernus0.32%
Outfront Media0.32%
Msg Knickerbockers Class A0.31%
Ringcentral Class A0.31%

Weight gaps

All 84 Holdings in both funds, largest gap first.

Holding weights in GRPZ and IJR, widest gap first
Holding	Gap	GRPZ	IJR
ADMA Biologics IncADMA	GRPZ +2.25 points	2.42%	0.17%
Inspire Medical Systems IncINSP	GRPZ +2.21 points	2.32%	0.11%
QuinStreet IncQNST	GRPZ +2.02 points	2.09%	0.07%
Palomar Holdings IncPLMR	GRPZ +1.95 points	2.19%	0.24%
Sezzle IncSEZL	GRPZ +1.91 points	2.06%	0.15%
TransMedics Group IncTMDX	GRPZ +1.82 points	2.00%	0.18%
Millrose Properties IncMRP	GRPZ +1.68 points	1.91%	0.23%
TG Therapeutics IncTGTX	GRPZ +1.56 points	2.06%	0.50%
Freshpet IncFRPT	GRPZ +1.44 points	1.62%	0.18%
Dave IncDAVE	GRPZ +1.44 points	1.60%	0.16%
Progyny IncPGNY	GRPZ +1.42 points	1.58%	0.16%
SiriusPoint LtdSPNT	GRPZ +1.43 points	1.56%	0.13%
Cal-Maine Foods IncCALM	GRPZ +1.29 points	1.46%	0.17%
UFP Technologies IncUFPT	GRPZ +1.26 points	1.40%	0.14%
Tidewater IncTDW	GRPZ +1.25 points	1.44%	0.19%
Amphastar Pharmaceuticals IncAMPH	GRPZ +1.25 points	1.30%	0.05%
ACADIA Pharmaceuticals IncACAD	GRPZ +1.23 points	1.39%	0.16%
Paycom Software IncPAYC	GRPZ +1.21 points	1.74%	0.53%
EVERTEC IncEVTC	GRPZ +1.20 points	1.32%	0.12%
Itron IncITRI	GRPZ +1.19 points	1.44%	0.25%
Liquidity Services IncLQDT	GRPZ +1.15 points	1.21%	0.06%
HCI Group IncHCI	GRPZ +1.14 points	1.25%	0.11%
Frontdoor IncFTDR	GRPZ +1.12 points	1.51%	0.39%
United Fire Group IncUFCS	GRPZ +1.11 points	1.17%	0.06%
CorVel CorpCRVL	GRPZ +1.09 points	1.24%	0.15%
SkyWest IncSKYW	GRPZ +1.08 points	1.26%	0.18%
Moelis & CoMC	GRPZ +1.07 points	1.32%	0.25%
Badger Meter IncBMI	GRPZ +1.06 points	1.33%	0.27%
Life360 IncLIF	GRPZ +1.05 points	1.28%	0.23%
Horace Mann Educators CorpHMN	GRPZ +1.05 points	1.18%	0.13%
Harmony Biosciences Holdings IncHRMY	GRPZ +1.04 points	1.14%	0.10%
National HealthCare CorpNHC	GRPZ +1.05 points	1.20%	0.15%
Encore Capital Group IncECPG	GRPZ +1.03 points	1.17%	0.14%
Clear Secure IncYOU	GRPZ +1.03 points	1.34%	0.31%
Interparfums IncIPAR	GRPZ +1.03 points	1.17%	0.14%
Addus HomeCare CorpADUS	GRPZ +1.01 points	1.14%	0.13%
Covista IncCVSA	GRPZ +0.98 points	1.20%	0.22%
Bancorp Inc/TheTBBK	GRPZ +0.98 points	1.09%	0.11%
Acadian Asset Management IncAAMI	GRPZ +0.97 points	1.13%	0.16%
Upwork IncUPWK	GRPZ +0.98 points	1.05%	0.07%
Tompkins Financial CorpTMP	GRPZ +0.97 points	1.04%	0.07%
Enerpac Tool Group CorpEPAC	GRPZ +0.94 points	1.06%	0.12%
Alarm.com Holdings IncALRM	GRPZ +0.94 points	1.13%	0.19%
Axos Financial IncAX	GRPZ +0.94 points	1.24%	0.30%
Pathward Financial IncCASH	GRPZ +0.93 points	1.02%	0.09%
Bristow Group IncVTOL	GRPZ +0.88 points	0.94%	0.06%
Lyft IncLYFT	GRPZ +0.86 points	1.24%	0.38%
Laureate Education IncLAUR	GRPZ +0.85 points	1.10%	0.25%
Oceaneering International IncOII	GRPZ +0.84 points	1.04%	0.20%
Assured Guaranty LtdAGO	GRPZ +0.83 points	1.01%	0.18%
Phibro Animal Health CorpPAHC	GRPZ +0.83 points	0.87%	0.04%
NMI Holdings IncNMIH	GRPZ +0.82 points	0.99%	0.17%
Mercury General CorpMCY	GRPZ +0.81 points	0.94%	0.13%
Urban Outfitters IncURBN	GRPZ +0.81 points	1.09%	0.28%
PJT Partners IncPJT	GRPZ +0.79 points	1.01%	0.22%
Trustmark CorpTRMK	GRPZ +0.78 points	0.93%	0.15%
Yelp IncYELP	GRPZ +0.78 points	0.84%	0.06%
Interface IncTILE	GRPZ +0.78 points	0.88%	0.10%
Vita Coco Co Inc/TheCOCO	GRPZ +0.77 points	0.95%	0.18%
Preferred Bank/Los Angeles CAPFBC	GRPZ +0.76 points	0.81%	0.05%
City Holding CoCHCO	GRPZ +0.75 points	0.87%	0.12%
Bread Financial Holdings IncBFH	GRPZ +0.74 points	0.89%	0.15%
XPEL IncXPEL	GRPZ +0.71 points	0.77%	0.06%
Greenbrier Cos Inc/TheGBX	GRPZ +0.69 points	0.77%	0.07%
OSI Systems IncOSIS	GRPZ +0.68 points	0.86%	0.18%
Napco Security Technologies IncNSSC	GRPZ +0.68 points	0.74%	0.06%
Dorman Products IncDORM	GRPZ +0.65 points	0.87%	0.22%
Cavco Industries IncCVCO	GRPZ +0.65 points	0.94%	0.29%
WSFS Financial CorpWSFS	GRPZ +0.65 points	0.88%	0.23%
Federal Signal CorpFSS	GRPZ +0.63 points	1.03%	0.40%
Green Brick Partners IncGRBK	GRPZ +0.62 points	0.73%	0.11%
Powell Industries IncPOWL	GRPZ +0.60 points	0.82%	0.22%
Armstrong World Industries IncAWI	GRPZ +0.60 points	1.02%	0.42%
Innoviva IncINVA	GRPZ +0.58 points	0.66%	0.08%
Perdoceo Education CorpPRDO	GRPZ +0.53 points	0.62%	0.09%
Uniti Group IncUNIT	GRPZ +0.53 points	0.58%	0.05%
Stride IncLRN	GRPZ +0.52 points	0.70%	0.18%
Mueller Water Products IncMWA	GRPZ +0.51 points	0.73%	0.22%
Strategic Education IncSTRA	GRPZ +0.48 points	0.55%	0.07%
Argan IncAGX	GRPZ +0.47 points	0.70%	0.23%
Boot Barn Holdings IncBOOT	GRPZ +0.42 points	0.65%	0.23%
Terreno Realty CorpTRNO	GRPZ +0.38 points	0.80%	0.42%
MYR Group IncMYRG	GRPZ +0.29 points	0.53%	0.24%
Everus Construction Group IncECG	GRPZ +0.27 points	0.50%	0.23%

All 87 GRPZ holdings⁠All 659 IJR holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

GRPZ vs IJR Cost

Overpaying GRPZ vs IJR

$5,856

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

GRPZ 0.35%
$7,126
IJR 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

GRPZ 0.35%
IJR 0.06%
Overpaying

Year by year

Year	GRPZ	IJR	Overpaying
10	$634	$110	$524
20	$2,454	$432	$2,022
30	$7,126	$1,270	$5,856

Expense ratio

0.35%GRPZ
0.06%IJR, cheaper

IJR0.06%GRPZ0.35%

0.03%0.59%

Middle half of S&P SmallCap 600 funds
Median 0.15%

IJR 2nd cheapest of 13 funds

GRPZ 10th cheapest of 13 funds

GRPZ vs IJR Dividends

Last 12 months to Nov 9, 2026

Yield (12M): GRPZ 0.83%; IJR 1.21%, better
Payout (12M): GRPZ $0.26; IJR $1.71
Last payment: GRPZ $0.04; IJR $0.51
Ex-dividend: GRPZ Sep 21, 2026; IJR Sep 15, 2026
Paid on: GRPZ Sep 25, 2026; IJR Sep 18, 2026
Frequency: GRPZ Quarterly; IJR Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

GRPZQuarterly · 10 paymentsAll GRPZ payments⁠

IJRQuarterly · 39 paymentsAll IJR payments⁠

GRPZ vs IJR Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: GRPZ 19.0%since Apr 2024IJR 18.7%
Return per unit of riskSharpe ratio, 3 years: GRPZ 0.35since Apr 2024IJR 0.75
Worst fallMax drawdown, 5 years: GRPZ −27.9%since Mar 2024IJR −28.0%
Market sensitivityBeta, 5 years: GRPZ 0.84IJR 1.05; Market = 1

GRPZ and IJR in the news

All news⁠

Best ETFs
Best small-cap ETFs: Vanguard’s VB beats three great funds all charging just 0.03%
Updated Nov 2, 2026IJR
Best ETFs
Schwab and Vanguard charge the same 0.03%. Their small-cap funds are 3.7 percentage points apart
Updated Oct 2, 2026IJR
News
Independence Realty to take Centerspace in 3.800-share all-stock merger
Sep 9, 2026IJR

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GRPZ vs IJR

In short

Stated mandate

Why people hold it