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Is Invesco S&P MidCap 400 Pure Value ETF (RFV) a Strong ETF Right Now?
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The Invesco S&P MidCap 400 Pure Value ETF (RFV - Free Report) made its debut on 03/01/2006, and is a smart beta exchange traded fund that provides broad exposure to the Style Box - Mid Cap Value category of the market.
What Are Smart Beta ETFs?
The ETF industry has traditionally been dominated by products based on market capitalization weighted indexes that are designed to represent the market or a particular segment of the market.
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.
If you're the kind of investor who would rather try and beat the market through good stock selection, then smart beta funds are your best choice; this fund class is known for tracking non-cap weighted strategies.
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.
While this space offers a number of choices to investors, including simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies, not all these strategies have been able to deliver superior results.
Fund Sponsor & Index
Because the fund has amassed over $267.03 million, this makes it one of the average sized ETFs in the Style Box - Mid Cap Value. RFV is managed by Invesco. Before fees and expenses, this particular fund seeks to match the performance of the S&P MidCap 400 Pure Value Index.
The S&P MidCap 400 Pure Value Index measures the performance of securities that exhibit strong value characteristics in the S&P MidCap 400 Index.
Cost & Other Expenses
When considering an ETF's total return, expense ratios are an important factor. And, cheaper funds can significantly outperform their more expensive cousins in the long term if all other factors remain equal.
Operating expenses on an annual basis are 0.35% for RFV, making it on par with most peer products in the space.
It's 12-month trailing dividend yield comes in at 1.16%.
Sector Exposure and Top Holdings
ETFs offer diversified exposure and thus minimize single stock risk, but it is still important to delve into a fund's holdings before investing. Most ETFs are very transparent products and many disclose their holdings on a daily basis.
RFV's heaviest allocation is in the Consumer Discretionary sector, which is about 26.3% of the portfolio. Its Industrials and Financials round out the top three.
Taking into account individual holdings, Concentrix Corp (CNXC) accounts for about 4.55% of the fund's total assets, followed by Hf Sinclair Corp (DINO) and Goodyear Tire & Rubber Co/the (GT).
Its top 10 holdings account for approximately 30.93% of RFV's total assets under management.
Performance and Risk
Year-to-date, the Invesco S&P MidCap 400 Pure Value ETF has added roughly 6.6% so far, and it's up approximately 10.52% over the last 12 months (as of 07/29/2025). RFV has traded between $97.97 and $131.23 in this past 52-week period.
RFV has a beta of 1.17 and standard deviation of 22.28% for the trailing three-year period, which makes the fund a high risk choice in the space. With about 84 holdings, it effectively diversifies company-specific risk .
Alternatives
Invesco S&P MidCap 400 Pure Value ETF is a reasonable option for investors seeking to outperform the Style Box - Mid Cap Value segment of the market. However, there are other ETFs in the space which investors could consider.
iShares Russell Mid-Cap Value ETF (IWS) tracks Russell MidCap Value Index and the Vanguard Mid-Cap Value ETF (VOE) tracks CRSP U.S. Mid Cap Value Index. iShares Russell Mid-Cap Value ETF has $13.61 billion in assets, Vanguard Mid-Cap Value ETF has $18.38 billion. IWS has an expense ratio of 0.23% and VOE changes 0.07%.
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 - Mid 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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Is Invesco S&P MidCap 400 Pure Value ETF (RFV) a Strong ETF Right Now?
The Invesco S&P MidCap 400 Pure Value ETF (RFV - Free Report) made its debut on 03/01/2006, and is a smart beta exchange traded fund that provides broad exposure to the Style Box - Mid Cap Value category of the market.
What Are Smart Beta ETFs?
The ETF industry has traditionally been dominated by products based on market capitalization weighted indexes that are designed to represent the market or a particular segment of the market.
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.
If you're the kind of investor who would rather try and beat the market through good stock selection, then smart beta funds are your best choice; this fund class is known for tracking non-cap weighted strategies.
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.
While this space offers a number of choices to investors, including simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies, not all these strategies have been able to deliver superior results.
Fund Sponsor & Index
Because the fund has amassed over $267.03 million, this makes it one of the average sized ETFs in the Style Box - Mid Cap Value. RFV is managed by Invesco. Before fees and expenses, this particular fund seeks to match the performance of the S&P MidCap 400 Pure Value Index.
The S&P MidCap 400 Pure Value Index measures the performance of securities that exhibit strong value characteristics in the S&P MidCap 400 Index.
Cost & Other Expenses
When considering an ETF's total return, expense ratios are an important factor. And, cheaper funds can significantly outperform their more expensive cousins in the long term if all other factors remain equal.
Operating expenses on an annual basis are 0.35% for RFV, making it on par with most peer products in the space.
It's 12-month trailing dividend yield comes in at 1.16%.
Sector Exposure and Top Holdings
ETFs offer diversified exposure and thus minimize single stock risk, but it is still important to delve into a fund's holdings before investing. Most ETFs are very transparent products and many disclose their holdings on a daily basis.
RFV's heaviest allocation is in the Consumer Discretionary sector, which is about 26.3% of the portfolio. Its Industrials and Financials round out the top three.
Taking into account individual holdings, Concentrix Corp (CNXC) accounts for about 4.55% of the fund's total assets, followed by Hf Sinclair Corp (DINO) and Goodyear Tire & Rubber Co/the (GT).
Its top 10 holdings account for approximately 30.93% of RFV's total assets under management.
Performance and Risk
Year-to-date, the Invesco S&P MidCap 400 Pure Value ETF has added roughly 6.6% so far, and it's up approximately 10.52% over the last 12 months (as of 07/29/2025). RFV has traded between $97.97 and $131.23 in this past 52-week period.
RFV has a beta of 1.17 and standard deviation of 22.28% for the trailing three-year period, which makes the fund a high risk choice in the space. With about 84 holdings, it effectively diversifies company-specific risk .
Alternatives
Invesco S&P MidCap 400 Pure Value ETF is a reasonable option for investors seeking to outperform the Style Box - Mid Cap Value segment of the market. However, there are other ETFs in the space which investors could consider.
iShares Russell Mid-Cap Value ETF (IWS) tracks Russell MidCap Value Index and the Vanguard Mid-Cap Value ETF (VOE) tracks CRSP U.S. Mid Cap Value Index. iShares Russell Mid-Cap Value ETF has $13.61 billion in assets, Vanguard Mid-Cap Value ETF has $18.38 billion. IWS has an expense ratio of 0.23% and VOE changes 0.07%.
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 - Mid 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.