The Invesco S&P 500 Pure Value ETF (RPV) was launched on 03/01/2006, and is a smart beta exchange traded fund designed to offer broad exposure to the Style Box - Large Cap Value category of the market.
What Are Smart Beta ETFs?
Market cap weighted indexes were created to reflect the market, or a specific segment of the market, and the ETF industry has traditionally been dominated by products based on this strategy.
Market cap weighted indexes offer a low-cost, convenient, and transparent way of replicating market returns, and are a good option for investors who believe in market efficiency.
However, some investors believe in the possibility of beating the market through exceptional stock selection, and choose a different type of fund that tracks non-cap weighted strategies: smart beta.
This kind of index follows this same mindset, as it attempts to pick stocks that have better chances of risk-return performance; non-cap weighted strategies base selection on certain fundamental characteristics, or a mix of such characteristics.
The smart beta space gives investors many different choices, from equal-weighting, one of the simplest strategies, to more complicated ones like fundamental and volatility/momentum based weighting. However, not all of these methodologies have been able to deliver remarkable returns.
Fund Sponsor & Index
The fund is managed by Invesco. RPV has been able to amass assets over $1.7 billion, making it one of the average sized ETFs in the Style Box - Large Cap Value. RPV seeks to match the performance of the S&P 500 Pure Value Index before fees and expenses.
The S&P 500 Pure Value Index measures the performance of securities that exhibit strong value characteristics in the S&P 500 Index.
Cost & Other Expenses
Cost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive cousins if all other fundamentals are the same.
Operating expenses on an annual basis are 0.35% for this ETF, which makes it on par with most peer products in the space.
It's 12-month trailing dividend yield comes in at 2.41%.
Sector Exposure and Top Holdings
Even though ETFs offer diversified exposure which minimizes single stock risk, it is still important to look into a fund's holdings before investing. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.
RPV's heaviest allocation is in the Financials sector, which is about 18.8% of the portfolio. Its Healthcare and Consumer Staples round out the top three.
Taking into account individual holdings, Bunge Global Sa (BG) accounts for about 2.42% of the fund's total assets, followed by Mosaic Co/the (MOS) and Dow Inc (DOW).
The top 10 holdings account for about 19.08% of total assets under management.
Performance and Risk
The ETF return is roughly 4.03% and it's up approximately 20.18% so far this year and in the past one year (as of 03/11/2026), respectively. RPV has traded between $81.66 and $113.31 during this last 52-week period.
The ETF has a beta of 0.88 and standard deviation of 16.04% for the trailing three-year period, making it a medium risk choice in the space. With about 125 holdings, it effectively diversifies company-specific risk .
Alternatives
Invesco S&P 500 Pure Value ETF is a reasonable option for investors seeking to outperform the Style Box - Large Cap Value segment of the market. However, there are other ETFs in the space which investors could consider.
Schwab U.S. Dividend Equity ETF (SCHD) tracks Dow Jones U.S. Dividend 100 Index and the Vanguard Value Index Fund ETF Shares (VTV) tracks CRSP U.S. Large Cap Value Index. Schwab U.S. Dividend Equity ETF has $83.85 billion in assets, Vanguard Value Index Fund ETF Shares has $167.63 billion. SCHD has an expense ratio of 0.06% and VTV changes 0.03%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - Large Cap Value
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
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Invesco S&P 500 Pure Value ETF (RPV): ETF Research ReportsThis article originally published on Zacks Investment Research (zacks.com).
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