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RFV vs SPYV

Invesco S&P MidCap 400 Pure Value ETF

RFVCNYSE Arca

State Street SPDR Portfolio S&P 500 Value ETF

SPYVANYSE Arca

Overlap

Expense ratio

SPYV −0.31pt a year

RFV0.35%SPYV0.04%

Avg volume · 30D

SPYV 351.5×the volume

RFV6.35KSPYV2.23M

10Y return · a year

SPYV +0.1pt

RFV+12.3%SPYV+12.4%

RFV vs SPYV Performance

Nov 5, 2021 – Nov 5, 2026

+58.2%RFV+69.0%SPYV

Nov 5, 2021 to Nov 5, 2026. RFV +58.2%. SPYV +69.0%. Use the arrow keys to read each point.−20%0%20%40%Nov 2021May 2024Nov 2026
Expense ratio
RFV 0.35%
SPYV 0.04%, better
Fund size
RFV $345M
SPYV $39.3B
1Y total return
RFV +16.1%, better
SPYV +15.5%
Yield (12M)
RFV 1.67%
SPYV 1.67%
Holdings
RFV 97
SPYV 435
Avg volume (30D)
RFV 6.35K sh
SPYV 2.23M sh, better
NAV per share
RFV $149.25
SPYV $65.14
52W range

ETF.net Grade

RFV: Cost 41, Risk 38, Mission 54, Tradability 52, Holdings 57, Durability 67. SPYV: Cost 98, Risk 82, Mission 86, Tradability 97, Holdings 72, Durability 86.
Pillar letters and Scores for RFV, SPYV, with each pillar’s weight
PillarRFVSPYV
Cost30% weightC41A98Higher
Mission25% weightC54A86Higher
Risk15% weightD38A82Higher
Tradability15% weightC52A97Higher
Holdings10% weightB57A72Higher
Durability5% weightB67A86Higher

Rank among Other Major Indexes funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. RFV and SPYV are both graded against the same 42 Other Major Indexes funds, so their Grades compare head to head.

Other Major Indexes⁠

Category · 42 funds
See all 42 ›

SPYV ranks 1st and RFV 24th of 42 funds in the Other Major Indexes Category.

  1. Rank 1ASPYVState Street SPDR Portfolio S&P 500 Value ETFScore 89
  2. Rank 2ASCHKSchwab 1000 Index ETFScore 86
  3. Rank 24CNYSXGlobal X NYSE 100 ETFScore 48
  4. Rank 24CRFVInvesco S&P MidCap 400 Pure Value ETFScore 48
  5. Rank 24CTMFXMotley Fool Next Index ETFScore 48

Our read on each fund

ETF.net Research

RFVCInvesco S&P MidCap 400 Pure Value ETF

SPYVAState Street SPDR Portfolio S&P 500 Value ETF

In short

RFV Mid-cap value with no hedging: RFV holds only the deepest-value slice of the S&P MidCap 400, roughly 100 names, and skips everything else. It has run that same screen since 2006 at a fee below the typical index fund in its class.

SPYV The value side of the S&P 500, tracked since 2000 for four basis points. It does one thing: hold the index names that screen cheap, and charge close to nothing for the privilege.

Stated mandate

RFV The Fund seeks to track the S&P MidCap 400® Pure Value Index.

SPYV The fund seeks to track, before fees and expenses, the total return of the S&P 500 Value Index.

Why people hold it

  • RFV The screen is the whole point. About 100 names survive out of the S&P MidCap 400, so the value tilt actually shows up in the portfolio instead of getting diluted.
  • 0.35% a year, under the median for its index-fund peer group. A concentrated factor screen without a boutique price tag.
  • Live since 2006 under Invesco, so the strategy has a long public record rather than a backtest, and it distributes quarterly.
  • SPYV 0.04% a year. VOOV tracks the identical S&P 500 Value Index and charges 0.07%, so this is the same exposure at a lower fee.
  • Trading since 2000 and now a multi-billion-dollar fund that changes hands actively, so the plumbing is well worn.
  • No stock picking, no factor secret sauce: it aims to match the S&P 500 Value Index before fees, and it is one of the cleaner implementations in its peer group.ssga.com

Worth knowing

  • RFV Thinly traded. Bid-ask spreads can run wider than on mainstream index funds, which makes the mechanics of the trade itself worth attention.
  • Concentration cuts both ways: roughly 100 hard-screened stocks move around more than the full 400, and value can sit out of favor for long stretches.
  • Cheap for a factor fund, not cheap outright. Plain vanilla value index peers such as SPYV and VOOV charge a fraction as much for broader, blunter exposure.
  • SPYV This is one style slice, roughly 400 value-screened names, not the whole S&P 500. It will move differently from the full index.
  • Value goes through long stretches in and out of favor. The fund follows the index rules either way, with no manager stepping in.
  • Distributions land quarterly, not monthly.

Full RFV profile⁠

Full SPYV profile⁠

RFV vs SPYV 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.

RFV vs SPYV Cost

Overpaying RFV vs SPYV

$6,277

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

  • RFV 0.35%

    $7,126

  • SPYV 0.04%

    $849

$10,000
30 years

Cost over time

  • RFV 0.35%
  • SPYV 0.04%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K051015202530RFV $7,126SPYV $849

Year by year

YearRFVSPYVOverpaying
10$634$73$561
20$2,454$288$2,166
30$7,126$849$6,277

Expense ratio

  • 0.35%RFV
  • 0.04%SPYV, cheaper
  • Middle half of Other Major Indexes funds
  • Median 0.29%

SPYV 2nd cheapest of 42 funds

RFV 24th cheapest of 42 funds

RFV vs SPYV Dividends

Last 12 months to Nov 5, 2026
Yield (12M)
RFV 1.67%
SPYV 1.67%
Payout (12M)
RFV $2.39
SPYV $1.06
Last payment
RFV $0.57
SPYV $0.27
Ex-dividend
RFV Sep 21, 2026
SPYV Sep 21, 2026
Paid on
RFV Sep 25, 2026
SPYV Sep 23, 2026
Frequency
RFV Quarterly
SPYV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

RFVQuarterly · 39 paymentsAll RFV payments⁠
One bar per payment. 39 payments from 2017 to 2026 YTD. Mar 17, 2017 $0.20; Jun 16, 2017 $0.29; Sep 15, 2017 $0.23; Dec 15, 2017 $0.23; Mar 16, 2018 $0.20; Jun 15, 2018 $0.20; Sep 24, 2018 $0.21; Dec 24, 2018 $0.18; Mar 18, 2019 $0.23; Jun 24, 2019 $0.27; Sep 23, 2019 $0.29; Dec 23, 2019 $0.39; Mar 23, 2020 $0.42; Jun 22, 2020 $0.34; Sep 21, 2020 $0.21; Dec 21, 2020 $0.15; Mar 22, 2021 $0.32; Jun 21, 2021 $0.30; Sep 20, 2021 $0.40; Dec 20, 2021 $0.53; Mar 21, 2022 $0.42; Jun 21, 2022 $0.56; Sep 19, 2022 $0.49; Dec 19, 2022 $0.39; Mar 20, 2023 $0.40; Jun 20, 2023 $0.40; Sep 18, 2023 $0.36; Dec 18, 2023 $0.33; Mar 18, 2024 $0.36; Jun 24, 2024 $0.40; Sep 23, 2024 $0.41; Dec 23, 2024 $0.42; Mar 24, 2025 $0.66; Jun 23, 2025 $0.77; Sep 22, 2025 $0.60; Dec 22, 2025 $0.62; Mar 23, 2026 $0.66; Jun 22, 2026 $0.54; Sep 21, 2026 $0.57. Use the arrow keys to read each point.$0$0.502017202020232026YTD
SPYVQuarterly · 39 paymentsAll SPYV payments⁠
One bar per payment. 39 payments from 2017 to 2026 YTD. Mar 17, 2017 $0.15; Jun 16, 2017 $0.17; Sep 15, 2017 $0.18; Dec 15, 2017 $0.36; Mar 19, 2018 $0.17; Jun 18, 2018 $0.19; Sep 24, 2018 $0.22; Dec 24, 2018 $0.22; Mar 18, 2019 $0.18; Jun 24, 2019 $0.20; Sep 23, 2019 $0.19; Dec 23, 2019 $0.21; Mar 23, 2020 $0.22; Jun 22, 2020 $0.21; Sep 21, 2020 $0.19; Dec 21, 2020 $0.19; Mar 22, 2021 $0.24; Jun 21, 2021 $0.20; Sep 20, 2021 $0.18; Dec 20, 2021 $0.26; Mar 21, 2022 $0.18; Jun 21, 2022 $0.22; Sep 19, 2022 $0.22; Dec 19, 2022 $0.24; Mar 20, 2023 $0.18; Jun 20, 2023 $0.20; Sep 18, 2023 $0.20; Dec 18, 2023 $0.23; Mar 18, 2024 $0.26; Jun 24, 2024 $0.29; Sep 23, 2024 $0.28; Dec 23, 2024 $0.35; Mar 24, 2025 $0.18; Jun 23, 2025 $0.25; Sep 22, 2025 $0.26; Dec 22, 2025 $0.31; Mar 23, 2026 $0.21; Jun 22, 2026 $0.27; Sep 21, 2026 $0.27. Use the arrow keys to read each point.$0$0.502017202020232026YTD

RFV vs SPYV Risk

Fall from peak · 5 years

  • RFV
  • SPYV
Nov 5, 2021 to Nov 5, 2026. Worst fall: RFV −24.7% · Apr 2025. Use the arrow keys to read each point.−25%−20%−15%−10%−5%0%Nov 2021May 2024Nov 2026

Risk facts

VolatilityStd dev, 3 years
RFV 18.2%SPYV 11.7%, better
Return per unit of riskSharpe ratio, 3 years
RFV 0.79SPYV 1.17, better
Worst fallMax drawdown, 5 years
RFV −24.7%SPYV −17.9%, better
Market sensitivityBeta, 5 years
RFV 1.08SPYV 0.83

RFV and SPYV in the news

All news⁠

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