GRPZ vs VIOO: Grades, Fees and Holdings Compared

Invesco S&P SmallCap 600 GARP ETF

GRPZDNYSE Arca

Vanguard S&P Small-Cap 600 ETF

VIOOANYSE Arca

Overlap

14.7%by weight

Expense ratio

VIOO −0.28pt a year

GRPZ0.35%VIOO0.07%

Avg volume · 30D

VIOO 154.1×the volume

GRPZ520VIOO80.1K

GRPZ vs VIOO Performance

Nov 7, 2025 – Nov 9, 2026

+24.0%GRPZ+21.8%VIOO

Expense ratio: GRPZ 0.35%; VIOO 0.07%, better
Fund size: GRPZ $3M; VIOO $4B
1Y total return: GRPZ +24.0%, better; VIOO +21.8%
Yield (12M): GRPZ 0.83%; VIOO 1.14%, better
Holdings: GRPZ 89; VIOO 612
Avg volume (30D): GRPZ 520 sh; VIOO 80.1K sh, better
NAV per share: GRPZ $31.35; VIOO $128.10
52W range

ETF.net Grade

Pillar letters and Scores for GRPZ, VIOO, with each pillar’s weight
Pillar	GRPZ	VIOO
Cost30% weight	F22	A82Higher
Mission25% weight	B61	A83Higher
Risk15% weight	B56Higher	C51
Tradability15% weight	D25	D31Higher
Holdings10% weight	D31	A83Higher
Durability5% weight	F13	B69Higher

Rank among S&P SmallCap 600 funds

How we build Categories ›

Same Category. GRPZ and VIOO 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 ›

VIOO ranks 3rd 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 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

VIOOAVanguard S&P Small-Cap 600 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.

VIOO Vanguard's version of the S&P SmallCap 600: it owns all of the index's roughly 600 names at index weight, no sampling shortcuts, for 0.07% a year. That is well under half the typical fee among S&P 600 index funds, and it has been running since 2010.

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.

VIOO The fund is a passively managed, full-replication ETF designed to follow the S&P SmallCap 600 Index, which represents small U.S. companies. It holds the index constituents in the same capitalization weights.

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.

VIOO Charges 0.07% a year against a peer-group median near 0.18% for funds built on the same small-cap index.
Full replication, not sampling: it holds about 600 index constituents at their index weights, and it tracks the S&P SmallCap 600 very closely.
Trading since 2010 and now a multi-billion-dollar fund, it ranks among the stronger implementations in its S&P 600 peer group.

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.

VIOO Two rivals on the identical index undercut it: SPSM at 0.03% and IJR at 0.06%. Thin gaps, but gaps that compound.
Moderately traded rather than the volume leader of the trio, so spreads carry more weight on big or rushed orders.
This is undiluted small-cap equity. The mandate is to mirror that index, bumps included, not to smooth it out.

Full GRPZ profile⁠

Full VIOO profile⁠

GRPZ vs VIOO Holdings

How GRPZ and VIOO differ

Overlap by weight

14.7%

Shared holdings make up 98.6% of GRPZ and 14.7% of VIOO.

Level by level

Holdings85 in both14.7%
Sector11 Sectors75.9%
Asset classStocks100%
Countryby domicile100%

Sector

Sector weights in GRPZ and VIOO, widest gap first
Sector	Gap	GRPZ	VIOO
Financials	GRPZ +11.1 points	28.2%	17.1%
Health Care	GRPZ +8.1 points	19.0%	10.9%
Consumer Staples	GRPZ +4.9 points	9.5%	4.6%
Technology	VIOO +4.0 points	12.0%	16.0%
Real Estate	VIOO +4.0 points	3.3%	7.3%
Industrials	VIOO +3.9 points	11.7%	15.6%
Materials	VIOO +3.6 points	1.0%	4.6%
Consumer Discretionary	VIOO +3.4 points	9.0%	12.4%
Energy	VIOO +2.9 points	3.4%	6.3%
Utilities	VIOO +1.7 points	0.0%	1.7%
Communication	VIOO +0.6 points	2.9%	3.5%

Country, concentration and asset class

Country by domicile

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

Concentration

Weight in the 10 largest Holdings

GRPZ20.4%
VIOO5.3%

Securities held

GRPZ88
VIOO605

Asset class

GRPZ: Stocks
VIOO: Stocks

Holdings

Only in GRPZ3
In both85
Only in VIOO520

Only in GRPZ

3 securities, 1.4% of GRPZ by weight

ZoomInfo Technologies Inc1.25%
Invesco Government & Agency Portfolio0.12%
Securities Lending - Bnym0.00%

Only in VIOO

520 securities, 84.9% of VIOO by weight

FormFactor Inc0.67%
Viasat Inc0.56%
Glaukos Corp0.56%
Qorvo Inc0.54%
Match Group Inc0.53%
Protagonist Therapeutics Inc0.53%
Element Solutions Inc0.48%
Ryman Hospitality Properties Inc0.47%
Jackson Financial Inc0.47%
SM Energy Co0.46%
CarMax Inc0.45%
Ralliant Corp0.44%
MaxLinear Inc0.44%
Life Time Group Holdings Inc0.44%
SLCMT11420.43%
Eastman Chemical Co0.43%
Arcosa Inc0.42%
Victoria's Secret & Co0.41%
StoneX Group Inc0.41%
Madison Square Garden Sports Corp0.40%
Plexus Corp0.40%
Lincoln National Corp0.40%
ESCO Technologies Inc0.40%
Zurn Elkay Water Solutions Corp0.40%
Gates Industrial Corp Ltd0.38%
Matson Inc0.38%
Enpro Inc0.38%
Conagra Brands Inc0.37%
Macerich Co/The0.37%
Mohawk Industries Inc0.37%
Ligand Pharmaceuticals Inc0.36%
Builders FirstSource Inc0.35%
Etsy Inc0.35%
Caesars Entertainment Inc0.35%
Alkermes PLC0.34%
Pool Corp0.34%
Molson Coors Beverage Co0.34%
LKQ Corp0.33%
MarketAxess Holdings Inc0.33%
Lamb Weston Holdings Inc0.33%
Materion Corp0.32%
EPAM Systems Inc0.32%
Essential Properties Realty Trust Inc0.32%
Magnolia Oil & Gas Corp0.32%
Sensient Technologies Corp0.32%
RingCentral Inc0.32%
JBT Marel Corp0.32%
Victory Capital Holdings Inc0.31%
Atlantic Union Bankshares Corp0.31%
PTC Therapeutics Inc0.31%

Weight gaps

All 85 Holdings in both funds, largest gap first.

Holding weights in GRPZ and VIOO, widest gap first
Holding	Gap	GRPZ	VIOO
ADMA Biologics IncADMA	GRPZ +2.29 points	2.42%	0.13%
Inspire Medical Systems IncINSP	GRPZ +2.20 points	2.32%	0.12%
QuinStreet IncQNST	GRPZ +2.04 points	2.09%	0.05%
Palomar Holdings IncPLMR	GRPZ +2.00 points	2.19%	0.19%
Sezzle IncSEZL	GRPZ +1.95 points	2.06%	0.11%
TransMedics Group IncTMDX	GRPZ +1.83 points	2.00%	0.17%
Millrose Properties IncMRP	GRPZ +1.68 points	1.91%	0.23%
TG Therapeutics IncTGTX	GRPZ +1.60 points	2.06%	0.46%
Progyny IncPGNY	GRPZ +1.47 points	1.58%	0.11%
Freshpet IncFRPT	GRPZ +1.46 points	1.62%	0.16%
Dave IncDAVE	GRPZ +1.41 points	1.60%	0.19%
SiriusPoint LtdSPNT	GRPZ +1.42 points	1.56%	0.14%
Cal-Maine Foods IncCALM	GRPZ +1.29 points	1.46%	0.17%
UFP Technologies IncUFPT	GRPZ +1.27 points	1.40%	0.13%
Paycom Software IncPAYC	GRPZ +1.25 points	1.74%	0.48%
Amphastar Pharmaceuticals IncAMPH	GRPZ +1.25 points	1.30%	0.05%
ACADIA Pharmaceuticals IncACAD	GRPZ +1.24 points	1.39%	0.15%
Tidewater IncTDW	GRPZ +1.22 points	1.44%	0.22%
EVERTEC IncEVTC	GRPZ +1.23 points	1.32%	0.09%
Frontdoor IncFTDR	GRPZ +1.22 points	1.51%	0.29%
Itron IncITRI	GRPZ +1.22 points	1.44%	0.22%
Liquidity Services IncLQDT	GRPZ +1.15 points	1.21%	0.06%
HCI Group IncHCI	GRPZ +1.15 points	1.25%	0.10%
Badger Meter IncBMI	GRPZ +1.12 points	1.33%	0.21%
CorVel CorpCRVL	GRPZ +1.11 points	1.24%	0.13%
Clear Secure IncYOU	GRPZ +1.11 points	1.34%	0.23%
United Fire Group IncUFCS	GRPZ +1.10 points	1.17%	0.07%
Life360 IncLIF	GRPZ +1.09 points	1.28%	0.19%
Horace Mann Educators CorpHMN	GRPZ +1.08 points	1.18%	0.10%
Moelis & CoMC	GRPZ +1.07 points	1.32%	0.25%
Encore Capital Group IncECPG	GRPZ +1.05 points	1.17%	0.12%
Interparfums IncIPAR	GRPZ +1.05 points	1.17%	0.12%
SkyWest IncSKYW	GRPZ +1.04 points	1.26%	0.22%
National HealthCare CorpNHC	GRPZ +1.04 points	1.20%	0.16%
Harmony Biosciences Holdings IncHRMY	GRPZ +1.03 points	1.14%	0.11%
Addus HomeCare CorpADUS	GRPZ +1.02 points	1.14%	0.12%
Upwork IncUPWK	GRPZ +0.99 points	1.05%	0.06%
Bancorp Inc/TheTBBK	GRPZ +0.98 points	1.09%	0.11%
Acadian Asset Management IncAAMI	GRPZ +0.97 points	1.13%	0.16%
Alarm.com Holdings IncALRM	GRPZ +0.98 points	1.13%	0.15%
Tompkins Financial CorpTMP	GRPZ +0.97 points	1.04%	0.07%
Covista IncCVSA	GRPZ +0.96 points	1.20%	0.24%
Enerpac Tool Group CorpEPAC	GRPZ +0.96 points	1.06%	0.10%
Axos Financial IncAX	GRPZ +0.96 points	1.24%	0.28%
Pathward Financial IncCASH	GRPZ +0.93 points	1.02%	0.09%
Lyft IncLYFT	GRPZ +0.91 points	1.24%	0.33%
F&G Annuities & Life IncFG	GRPZ +0.91 points	0.95%	0.04%
Bristow Group IncVTOL	GRPZ +0.88 points	0.94%	0.06%
Assured Guaranty LtdAGO	GRPZ +0.85 points	1.01%	0.16%
Urban Outfitters IncURBN	GRPZ +0.84 points	1.09%	0.25%
NMI Holdings IncNMIH	GRPZ +0.83 points	0.99%	0.16%
Laureate Education IncLAUR	GRPZ +0.82 points	1.10%	0.28%
Phibro Animal Health CorpPAHC	GRPZ +0.83 points	0.87%	0.04%
PJT Partners IncPJT	GRPZ +0.80 points	1.01%	0.21%
Mercury General CorpMCY	GRPZ +0.79 points	0.94%	0.15%
Oceaneering International IncOII	GRPZ +0.79 points	1.04%	0.25%
Vita Coco Co Inc/TheCOCO	GRPZ +0.79 points	0.95%	0.16%
Trustmark CorpTRMK	GRPZ +0.78 points	0.93%	0.15%
Yelp IncYELP	GRPZ +0.79 points	0.84%	0.05%
Interface IncTILE	GRPZ +0.77 points	0.88%	0.11%
City Holding CoCHCO	GRPZ +0.76 points	0.87%	0.11%
Preferred Bank/Los Angeles CAPFBC	GRPZ +0.74 points	0.81%	0.07%
XPEL IncXPEL	GRPZ +0.71 points	0.77%	0.06%
Greenbrier Cos Inc/TheGBX	GRPZ +0.70 points	0.77%	0.07%
Cavco Industries IncCVCO	GRPZ +0.69 points	0.94%	0.25%
OSI Systems IncOSIS	GRPZ +0.69 points	0.86%	0.17%
Dorman Products IncDORM	GRPZ +0.68 points	0.87%	0.19%
Bread Financial Holdings IncBFH	GRPZ +0.67 points	0.89%	0.22%
Napco Security Technologies IncNSSC	GRPZ +0.67 points	0.74%	0.07%
WSFS Financial CorpWSFS	GRPZ +0.66 points	0.88%	0.22%
Federal Signal CorpFSS	GRPZ +0.64 points	1.03%	0.39%
Armstrong World Industries IncAWI	GRPZ +0.62 points	1.02%	0.40%
Green Brick Partners IncGRBK	GRPZ +0.61 points	0.73%	0.12%
Innoviva IncINVA	GRPZ +0.57 points	0.66%	0.09%
Mueller Water Products IncMWA	GRPZ +0.54 points	0.73%	0.19%
Stride IncLRN	GRPZ +0.51 points	0.70%	0.19%
Powell Industries IncPOWL	GRPZ +0.51 points	0.82%	0.31%
Perdoceo Education CorpPRDO	GRPZ +0.51 points	0.62%	0.11%
Uniti Group IncUNIT	GRPZ +0.49 points	0.58%	0.09%
Strategic Education IncSTRA	GRPZ +0.45 points	0.55%	0.10%
Boot Barn Holdings IncBOOT	GRPZ +0.44 points	0.65%	0.21%
Argan IncAGX	GRPZ +0.39 points	0.70%	0.31%
Terreno Realty CorpTRNO	GRPZ +0.39 points	0.80%	0.41%
MYR Group IncMYRG	GRPZ +0.27 points	0.53%	0.26%
Everus Construction Group IncECG	GRPZ +0.15 points	0.50%	0.35%

All 87 GRPZ holdings⁠All 605 VIOO 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 VIOO Cost

Overpaying GRPZ vs VIOO

$5,646

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

GRPZ 0.35%
$7,126
VIOO 0.07%
$1,480

Amount$10,000

Years30 years

Cost over time

GRPZ 0.35%
VIOO 0.07%
Overpaying

Year by year

Year	GRPZ	VIOO	Overpaying
10	$634	$128	$506
20	$2,454	$503	$1,951
30	$7,126	$1,480	$5,646

Expense ratio

0.35%GRPZ
0.07%VIOO, cheaper

VIOO0.07%GRPZ0.35%

0.03%0.59%

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

VIOO 3rd cheapest of 13 funds

GRPZ 10th cheapest of 13 funds

GRPZ vs VIOO Dividends

Last 12 months to Nov 9, 2026

Yield (12M): GRPZ 0.83%; VIOO 1.14%, better
Payout (12M): GRPZ $0.26; VIOO $1.51
Last payment: GRPZ $0.04; VIOO $1.51
Ex-dividend: GRPZ Sep 21, 2026; VIOO Dec 22, 2025
Paid on: GRPZ Sep 25, 2026; VIOO Dec 24, 2025
Frequency: GRPZ Quarterly; VIOO Annual

Distribution history

Per share, 2017 to 2026, same scale for both

GRPZQuarterly · 10 paymentsAll GRPZ payments⁠

VIOOAnnual · 9 paymentsAll VIOO payments⁠

GRPZ vs VIOO 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 2024VIOO 18.8%
Return per unit of riskSharpe ratio, 3 years: GRPZ 0.35since Apr 2024VIOO 0.75
Worst fallMax drawdown, 5 years: GRPZ −27.9%since Mar 2024VIOO −27.9%
Market sensitivityBeta, 5 years: GRPZ 0.84VIOO 1.05; Market = 1

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