IUSV vs RZV

IUSVAiShares Core S&P U.S. Value ETF

RZVCInvesco S&P SmallCap 600 Pure Value ETF

In short

IUSV A value fund with a wider net: it tracks the S&P 900 Value Index, which screens S&P 500 and MidCap 400 stocks on book value, earnings and sales versus price. Roughly 700 names, 0.04% a year, running since 2000.

RZV Most S&P 600 value funds keep every stock with a whiff of value and weight it by size. RZV keeps only the deepest discounts and weights them by how cheap they are, not how big.

Stated mandate

IUSV The fund seeks to track the S&P 900 Value Index, which represents large- and mid-capitalization U.S. value equities. Value characteristics are identified using book value, earnings, and sales relative to price.

RZV The fund will invest at least 90% of its total assets in securities that comprise its Index.

Why people hold it

• IUSV Costs 0.04% a year, a fraction of the typical US value ETF, and level with the cheapest of its large peers like SCHV.
• The index reaches past the S&P 500 into the S&P MidCap 400, so mid-cap value names come along. Large-cap-only rivals such as SCHV stop short of them.spindices.com
• A 2000 vintage and now a multi-billion-dollar iShares Core holding: it trades actively, tracks its index closely, and pays quarterly.

• RZV Screens the S&P SmallCap 600 for the strongest value scores on book value, earnings and sales versus price, then weights holdings by that score instead of market cap.spglobal.cominvesco.com
• A pure-style build: only parent-index names showing strong value traits get in, so the sleeve stays a value sleeve rather than a small-cap blend in disguise.spglobal.com
• Running since 2006, through several full value cycles, and it has tracked its index closely along the way.

Worth knowing

• IUSV S&P's style system splits the parent index by formula, and stocks with both value and growth traits can sit in each. This is the cheap half of the market, not a deep-value sleeve.spglobal.comspglobal.com 2
• The screen is pure price ratios (book value, earnings, sales), with no profitability or quality filter, so cheap-for-a-reason names are part of the deal.spglobal.com
• Holdings are float-market-cap weighted, so the biggest value names drive most of the movement.spglobal.com

• RZV Costs 0.35% a year, roughly double the median for S&P 600 index funds and more than the 0.15% SLYV charges for a broader value cut.
• Trades far lighter than core S&P 600 giants like IJR and SPSM, so spreads can be wider, especially in fast markets.
• Roughly 160 stocks, rebalanced once a year, leaning into the market's cheapest corners. Weights can drift between resets, and deep value is a narrow slice.invesco.com

Full IUSV profile⁠

Full RZV profile⁠