GRPZ vs VIOG: Grades, Fees and Holdings Compared

Invesco S&P SmallCap 600 GARP ETF

GRPZDNYSE Arca

Vanguard S&P Small-Cap 600 Growth ETF

VIOGBNYSE Arca

Overlap

24.4%by weight

Expense ratio

VIOG −0.25pt a year

GRPZ0.35%VIOG0.10%

Avg volume · 30D

VIOG 68.1×the volume

GRPZ520VIOG35.4K

GRPZ vs VIOG Performance

Nov 7, 2025 – Nov 9, 2026

+24.0%GRPZ+20.3%VIOG

Expense ratio: GRPZ 0.35%; VIOG 0.10%, better
Fund size: GRPZ $3M; VIOG $1B
1Y total return: GRPZ +24.0%, better; VIOG +20.3%
Yield (12M): GRPZ 0.83%, better; VIOG 0.76%
Holdings: GRPZ 89; VIOG 356
Avg volume (30D): GRPZ 520 sh; VIOG 35.4K sh, better
NAV per share: GRPZ $31.35; VIOG $138.77
52W range

ETF.net Grade

Pillar letters and Scores for GRPZ, VIOG, with each pillar’s weight
Pillar	GRPZ	VIOG
Cost30% weight	F22	A74Higher
Mission25% weight	B61	A100Higher
Risk15% weight	B56Higher	C44
Tradability15% weight	D25	D25
Holdings10% weight	D31	C53Higher
Durability5% weight	F13	C54Higher

Rank among S&P SmallCap 600 funds

How we build Categories ›

Same Category. GRPZ and VIOG 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 ›

VIOG ranks 4th 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 4BVIOGVanguard S&P Small-Cap 600 Growth ETFScore 65
Rank 5BSLYVState Street SPDR S&P 600 Small Cap Value ETFScore 64
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

VIOGBVanguard S&P Small-Cap 600 Growth 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.

VIOG Vanguard's growth slice of the S&P SmallCap 600, running since 2010 at 0.10% a year. Only one other ETF tracks the same index, and it charges more.

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.

VIOG The fund seeks to track the performance of the S&P SmallCap 600 Growth Index, which represents small U.S. growth companies.

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.

VIOG At 0.10%, it undercuts the only other fund on the same index (SLYG at 0.15%) and lands well under its peer group's 0.18% median fee.
One published index, one style slice, no manager discretion. It follows the S&P SmallCap 600 Growth Index closely and stands in the upper half of its S&P 600 peer group.
Live since 2010, with a record across several market cycles, and it spreads across roughly 300 small-cap growth names instead of a short list.
A multi-billion-dollar fund from Vanguard, and it pays 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.

VIOG Thinly traded next to the S&P 600's core giants, so the bid-ask spread is a bigger slice of your real cost than the expense ratio suggests.
Style slicing carries a surcharge: whole-index cousins like SPSM (0.03%) and VIOO (0.07%) cost less than owning just the growth half.
Narrow by design. The growth half of a small-cap index moves more sharply than a broad US stock fund.

Full GRPZ profile⁠

Full VIOG profile⁠

GRPZ vs VIOG Holdings

How GRPZ and VIOG differ

Overlap by weight

24.4%

Shared holdings make up 89.9% of GRPZ and 24.6% of VIOG.

Level by level

Holdings76 in both24.4%
Sector11 Sectors76.5%
Asset classStocks100%
Countryby domicile100%

Sector

Sector weights in GRPZ and VIOG, widest gap first
Sector	Gap	GRPZ	VIOG
Financials	GRPZ +13.9 points	28.2%	14.3%
Industrials	VIOG +6.6 points	11.7%	18.3%
Technology	VIOG +6.5 points	12.0%	18.5%
Consumer Staples	GRPZ +6.0 points	9.5%	3.5%
Real Estate	VIOG +3.6 points	3.3%	6.9%
Health Care	GRPZ +3.5 points	19.0%	15.5%
Materials	VIOG +2.2 points	1.0%	3.2%
Energy	VIOG +1.8 points	3.4%	5.2%
Utilities	VIOG +1.6 points	0.0%	1.6%
Consumer Discretionary	VIOG +1.2 points	9.0%	10.2%
Communication	GRPZ +0.1 points	2.9%	2.8%

Country, concentration and asset class

Country by domicile

Country weights in GRPZ and VIOG, widest gap first
Country	More in GRPZMore in VIOG	Gap	GRPZ	VIOG
United States		Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

GRPZ20.4%
VIOG9.8%

Securities held

GRPZ88
VIOG351

Asset class

GRPZ: Stocks
VIOG: Stocks

Holdings

Only in GRPZ12
In both76
Only in VIOG275

Only in GRPZ

12 securities, 10.1% of GRPZ by weight

Paycom Software Inc1.74%
ZoomInfo Technologies Inc1.25%
Encore Capital Group Inc1.17%
Tompkins Financial Corp1.04%
F&G Annuities & Life Inc0.95%
Bristow Group Inc0.94%
Bread Financial Holdings Inc0.89%
Greenbrier Cos Inc/The0.77%
Stride Inc0.70%
Strategic Education Inc0.55%
Invesco Government & Agency Portfolio0.12%
Securities Lending - Bnym0.00%

Only in VIOG

275 securities, 75.2% of VIOG by weight

FormFactor Inc1.42%
Viasat Inc1.18%
Protagonist Therapeutics Inc1.11%
Ryman Hospitality Properties Inc0.99%
StoneX Group Inc0.85%
Madison Square Garden Sports Corp0.85%
ESCO Technologies Inc0.83%
Zurn Elkay Water Solutions Corp0.83%
Alkermes PLC0.83%
Glaukos Corp0.81%
Enpro Inc0.79%
Ligand Pharmaceuticals Inc0.76%
Etsy Inc0.74%
Qorvo Inc0.72%
Sensient Technologies Corp0.68%
JBT Marel Corp0.67%
Life Time Group Holdings Inc0.66%
PTC Therapeutics Inc0.66%
Kodiak Gas Services Inc0.65%
Archrock Inc0.64%
Impinj Inc0.63%
Granite Construction Inc0.62%
Casella Waste Systems Inc0.61%
ACM Research Inc0.58%
Solaris Energy Infrastructure Inc0.57%
Mercury Systems Inc0.56%
Virtu Financial Inc0.56%
VSE Corp0.56%
Arcosa Inc0.56%
International Seaways Inc0.56%
Installed Building Products Inc0.53%
Construction Partners Inc0.53%
PriceSmart Inc0.53%
Indivior Pharmaceuticals Inc0.51%
Chefs' Warehouse Inc/The0.51%
Enova International Inc0.51%
Element Solutions Inc0.50%
Karman Holdings Inc0.49%
AZZ Inc0.49%
AAR Corp0.49%
Primoris Services Corp0.49%
Ralliant Corp0.48%
OPENLANE Inc0.47%
Essential Properties Realty Trust Inc0.45%
Veracyte Inc0.45%
Brady Corp0.44%
Sphere Entertainment Co0.44%
Gates Industrial Corp Ltd0.43%
StepStone Group Inc0.43%
Clearway Energy Inc0.43%

Weight gaps

All 76 Holdings in both funds, largest gap first.

Holding weights in GRPZ and VIOG, widest gap first
Holding	Gap	GRPZ	VIOG
ADMA Biologics IncADMA	GRPZ +2.15 points	2.42%	0.27%
Inspire Medical Systems IncINSP	GRPZ +2.08 points	2.32%	0.24%
QuinStreet IncQNST	GRPZ +2.03 points	2.09%	0.06%
Sezzle IncSEZL	GRPZ +1.83 points	2.06%	0.23%
Palomar Holdings IncPLMR	GRPZ +1.80 points	2.19%	0.39%
TransMedics Group IncTMDX	GRPZ +1.65 points	2.00%	0.35%
Millrose Properties IncMRP	GRPZ +1.62 points	1.91%	0.29%
Freshpet IncFRPT	GRPZ +1.41 points	1.62%	0.21%
Progyny IncPGNY	GRPZ +1.35 points	1.58%	0.23%
SiriusPoint LtdSPNT	GRPZ +1.26 points	1.56%	0.30%
Amphastar Pharmaceuticals IncAMPH	GRPZ +1.25 points	1.30%	0.05%
Dave IncDAVE	GRPZ +1.21 points	1.60%	0.39%
Itron IncITRI	GRPZ +1.15 points	1.44%	0.29%
UFP Technologies IncUFPT	GRPZ +1.12 points	1.40%	0.28%
EVERTEC IncEVTC	GRPZ +1.12 points	1.32%	0.20%
United Fire Group IncUFCS	GRPZ +1.10 points	1.17%	0.07%
Cal-Maine Foods IncCALM	GRPZ +1.10 points	1.46%	0.36%
TG Therapeutics IncTGTX	GRPZ +1.10 points	2.06%	0.96%
Liquidity Services IncLQDT	GRPZ +1.09 points	1.21%	0.12%
ACADIA Pharmaceuticals IncACAD	GRPZ +1.07 points	1.39%	0.32%
CorVel CorpCRVL	GRPZ +1.07 points	1.24%	0.17%
Horace Mann Educators CorpHMN	GRPZ +1.07 points	1.18%	0.11%
HCI Group IncHCI	GRPZ +1.03 points	1.25%	0.22%
Interparfums IncIPAR	GRPZ +1.03 points	1.17%	0.14%
Moelis & CoMC	GRPZ +1.03 points	1.32%	0.29%
Tidewater IncTDW	GRPZ +0.98 points	1.44%	0.46%
Addus HomeCare CorpADUS	GRPZ +0.98 points	1.14%	0.16%
SkyWest IncSKYW	GRPZ +0.98 points	1.26%	0.28%
Alarm.com Holdings IncALRM	GRPZ +0.94 points	1.13%	0.19%
Enerpac Tool Group CorpEPAC	GRPZ +0.93 points	1.06%	0.13%
Upwork IncUPWK	GRPZ +0.93 points	1.05%	0.12%
Harmony Biosciences Holdings IncHRMY	GRPZ +0.90 points	1.14%	0.24%
Frontdoor IncFTDR	GRPZ +0.90 points	1.51%	0.61%
Badger Meter IncBMI	GRPZ +0.90 points	1.33%	0.43%
Life360 IncLIF	GRPZ +0.88 points	1.28%	0.40%
Bancorp Inc/TheTBBK	GRPZ +0.87 points	1.09%	0.22%
National HealthCare CorpNHC	GRPZ +0.86 points	1.20%	0.34%
Clear Secure IncYOU	GRPZ +0.85 points	1.34%	0.49%
Pathward Financial IncCASH	GRPZ +0.84 points	1.02%	0.18%
Assured Guaranty LtdAGO	GRPZ +0.83 points	1.01%	0.18%
Acadian Asset Management IncAAMI	GRPZ +0.80 points	1.13%	0.33%
Trustmark CorpTRMK	GRPZ +0.78 points	0.93%	0.15%
Phibro Animal Health CorpPAHC	GRPZ +0.78 points	0.87%	0.09%
Yelp IncYELP	GRPZ +0.77 points	0.84%	0.07%
Interface IncTILE	GRPZ +0.74 points	0.88%	0.14%
Oceaneering International IncOII	GRPZ +0.73 points	1.04%	0.31%
City Holding CoCHCO	GRPZ +0.71 points	0.87%	0.16%
Covista IncCVSA	GRPZ +0.69 points	1.20%	0.51%
Preferred Bank/Los Angeles CAPFBC	GRPZ +0.67 points	0.81%	0.14%
NMI Holdings IncNMIH	GRPZ +0.65 points	0.99%	0.34%
Axos Financial IncAX	GRPZ +0.64 points	1.24%	0.60%
XPEL IncXPEL	GRPZ +0.64 points	0.77%	0.13%
Napco Security Technologies IncNSSC	GRPZ +0.64 points	0.74%	0.10%
WSFS Financial CorpWSFS	GRPZ +0.63 points	0.88%	0.25%
Mercury General CorpMCY	GRPZ +0.62 points	0.94%	0.32%
Vita Coco Co Inc/TheCOCO	GRPZ +0.61 points	0.95%	0.34%
Green Brick Partners IncGRBK	GRPZ +0.59 points	0.73%	0.14%
PJT Partners IncPJT	GRPZ +0.57 points	1.01%	0.44%
Urban Outfitters IncURBN	GRPZ +0.56 points	1.09%	0.53%
Lyft IncLYFT	GRPZ +0.55 points	1.24%	0.69%
Innoviva IncINVA	GRPZ +0.55 points	0.66%	0.11%
Laureate Education IncLAUR	GRPZ +0.51 points	1.10%	0.59%
OSI Systems IncOSIS	GRPZ +0.49 points	0.86%	0.37%
Perdoceo Education CorpPRDO	GRPZ +0.47 points	0.62%	0.15%
Mueller Water Products IncMWA	GRPZ +0.47 points	0.73%	0.26%
Dorman Products IncDORM	GRPZ +0.46 points	0.87%	0.41%
Cavco Industries IncCVCO	GRPZ +0.42 points	0.94%	0.52%
Uniti Group IncUNIT	GRPZ +0.40 points	0.58%	0.18%
Everus Construction Group IncECG	VIOG +0.23 points	0.50%	0.73%
Federal Signal CorpFSS	GRPZ +0.21 points	1.03%	0.82%
Boot Barn Holdings IncBOOT	GRPZ +0.21 points	0.65%	0.44%
Terreno Realty CorpTRNO	GRPZ +0.20 points	0.80%	0.60%
Armstrong World Industries IncAWI	GRPZ +0.19 points	1.02%	0.83%
Powell Industries IncPOWL	GRPZ +0.18 points	0.82%	0.64%
Argan IncAGX	GRPZ +0.06 points	0.70%	0.64%
MYR Group IncMYRG	VIOG +0.02 points	0.53%	0.55%

All 87 GRPZ holdings⁠All 349 VIOG 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 VIOG Cost

Overpaying GRPZ vs VIOG

$5,020

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

GRPZ 0.35%
$7,126
VIOG 0.10%
$2,106

Amount$10,000

Years30 years

Cost over time

GRPZ 0.35%
VIOG 0.10%
Overpaying

Year by year

Year	GRPZ	VIOG	Overpaying
10	$634	$183	$451
20	$2,454	$717	$1,737
30	$7,126	$2,106	$5,020

Expense ratio

0.35%GRPZ
0.10%VIOG, cheaper

VIOG0.10%GRPZ0.35%

0.03%0.59%

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

VIOG 4th cheapest of 13 funds

GRPZ 10th cheapest of 13 funds

GRPZ vs VIOG Dividends

Last 12 months to Nov 9, 2026

Yield (12M): GRPZ 0.83%, better; VIOG 0.76%
Payout (12M): GRPZ $0.26; VIOG $1.09
Last payment: GRPZ $0.04; VIOG $0.26
Ex-dividend: GRPZ Sep 21, 2026; VIOG Sep 28, 2026
Paid on: GRPZ Sep 25, 2026; VIOG Sep 30, 2026
Frequency: GRPZ Quarterly; VIOG Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

GRPZQuarterly · 10 paymentsAll GRPZ payments⁠

VIOGQuarterly · 39 paymentsAll VIOG payments⁠

GRPZ vs VIOG 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 2024VIOG 19.0%
Return per unit of riskSharpe ratio, 3 years: GRPZ 0.35since Apr 2024VIOG 0.71
Worst fallMax drawdown, 5 years: GRPZ −27.9%since Mar 2024VIOG −29.0%
Market sensitivityBeta, 5 years: GRPZ 0.84VIOG 1.07; Market = 1

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