RZV vs VTV

RZVCInvesco S&P SmallCap 600 Pure Value ETF

VTVAVanguard Morningstar Value ETF

In short

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.

VTV Value investing for three cents on every hundred dollars a year. Since 2004, VTV has run a passive, fully invested portfolio of roughly 300 large US companies that screen cheap, at a fee near the industry floor.

Stated mandate

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

VTV The fund seeks to track a large-capitalization U.S. value-stock benchmark through passive indexing and substantial replication of that index.

Why people hold it

• 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.

• VTV 0.03% a year, about a sixth of the 0.18% median for US value funds. Cost is the part of the outcome the fund actually controls.
• Same recipe, very different sticker: PRXV tracks the same declared value index and charges 0.36%, twelve times VTV's fee.
• Passively managed, full replication, fully invested. No manager hunches, no cash sitting idle, and the fund has tracked its benchmark closely.vanguard.com
• One of the largest and most actively traded funds in the US value aisle, the kind of scale that keeps bid-ask spreads thin for ordinary orders.

Worth knowing

• 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

• VTV Large caps only, about 300 of them. Cheap mid- and small-cap stocks live in separate funds (VOE, VTWV), so this is one slice of value, not the whole market.
• It is a value screen by design, so the priciest fast growers are largely filtered out. In growth-led stretches it can move very differently from a total-market fund.
• Income arrives quarterly, in four instalments rather than a monthly drip.

Full RZV profile⁠

Full VTV profile⁠