What Is the RPV ETF? Returns, Expense Ratio, Holdings, and Alternative ETFs at a Glance
A deep-value smart beta ETF that selects stocks meeting value criteria within the S&P 500 and allocates weights based on value scores.
SubscribeWhat Is This ETF?
It tracks the S&P 500 Pure Value Index and concentrates its investments in stocks whose fundamental metrics, such as price-to-earnings (P/E), price-to-book (P/B), and price-to-sales (P/S) ratios, indicate undervaluation. Its structure is designed to preserve style purity.
Through a more refined portfolio of value stocks than typical value investing offers, it is a suitable choice for investors seeking returns that differ from the broader market.
Launched by Invesco in 2006, it is a passively managed (index-tracking) ETF.
How Does It Invest?
| Item | Details |
|---|---|
| Tracked Index | S&P 500 Pure Value Index |
| Management Style | Passive (Smart Beta) |
| Rebalancing Frequency | Annually |
| Dividend Frequency | Quarterly |
| Expense Ratio | 0.35% |
The fund selects the top stocks with high value scores from the S&P 500 and assigns larger weights to those with higher scores. Moving away from market-cap weighting, it focuses on increasing exposure to the value factor.
- Pursues a pure style strategy that excludes growth stock characteristics
- Allocates weights based on value scores rather than market capitalization
Size and Costs
Assets under management (AUM) stand at $1.8B, and the expense ratio is 0.35% per year.
Compared with market-cap-weighted funds such as VTV or SPYV, it carries higher weightings in the financial and energy sectors, and its structure can lead to relatively greater volatility depending on market conditions.
Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangePerformance tends to stand out when interest rates are rising or the market favors value stocks, while it tends to lag in markets led by large technology stocks.
The fund has seen steady inflows from investors looking to actively use smart beta strategies when interest rate conditions shift and valuation appeal comes into focus.
Strengths and Weaknesses
Its hallmark is differentiated performance through value factor exposure, but sector concentration and the potential for heightened volatility are the main risks.
💪 Key Strengths
⚠️ Points to Watch
Alternative ETFs and Related Products
If you want broad exposure to large-cap value stocks at a lower cost, VTV or SPYV, shown in the table, are reasonable alternatives. On the other hand, if you want the same "pure" strategy on the growth side rather than the value side, you may also consider its sister fund, RPG.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 VTV | Vanguard Morningstar Value ETF | $227.57 | -0.4% | $196.6B | 0.03% | 1.83% | +23.1% |
 IWD | iShares Russell 1000 Value ETF | $258.58 | -0.3% | $83.4B | 0.18% | 1.37% | +26.7% |
 IVE | iShares S&P 500 Value ETF | $238.33 | -0.6% | $50.9B | 0.18% | 1.51% | +14.3% |
 SPYV | State Street SPDR Portfolio S&P 500 Value ETF | $63.83 | -0.6% | $39.0B | 0.04% | 1.66% | +14.2% |
 VBR | Vanguard Morningstar Small-Cap Value ETF | $245.00 | -0.4% | $37.4B | 0.05% | 1.8% | +18.9% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
 DOW | Dow Inc | 0.03% | $33.79 | -1.1% | $24.5B | - | 4.12% |
 BG | Bunge Global SA | 0.05% | $94.72 | +0.5% | $18.2B | 15.9 | 3.04% |
| CNC | Centene Corp | 0.05% | $67.48 | +1.4% | $33.4B | 23.1 | - |
| ADM | Archer Daniels Midland Co | 0.04% | $70.60 | -6.8% | $34.0B | 13.8 | 3.01% |
| HUM | Humana Inc | 0.02% | $417.87 | +1.8% | $50.2B | 39.6 | 0.88% |
| CVS | CVS Health Corp | 0.02% | $91.41 | +3.3% | $116.9B | 24.1 | 2.98% |
| F | Ford Motor Co | 0.02% | $12.31 | -2.3% | $49.2B | - | 4.87% |
Investor Checkpoints
These are the key points to examine carefully when considering an investment in RPV. Investors should approach it knowing that its investment philosophy differs from that of typical value stock ETFs.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 💵 Expense Level | Confirm whether costs are appropriate for a smart beta strategy | Somewhat high |
| 📊 Sector Composition | Check weightings in specific sectors such as financials and energy | High concentration |
| 📈 Market Environment | Direction of macroeconomic indicators that favor value stocks | Needs confirmation |
| 🔄 Rebalancing | Results of annual stock replacement and weight adjustments | Ongoing monitoring |
Given the nature of a deep-value strategy, share price declines can deepen when the market shuns value stocks, and there is a constant possibility that weakness in a particular industry will weigh heavily on overall performance.
It suits investors who believe in the value factor and prefer an active-minded approach to value investing. However, a long-term perspective capable of withstanding high volatility is required.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
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