If you're interested in broad exposure to the Mid Cap Value segment of the US equity market, look no further than the Invesco S&P MidCap 400 Pure Value ETF (RFV Quick QuoteRFV - Free Report) , a passively managed exchange traded fund launched on March 1, 2006.

The fund is sponsored by Invesco. It has amassed assets over $296.55 million, making it one of the average sized ETFs attempting to match the Mid Cap Value segment of the US equity market.

Why Mid Cap Value

Mid cap companies have market capitalization between $2 billion and $10 billion. They usually have higher growth prospects than large cap companies and are less volatile than small cap companies. These types of companies, then, have a good balance of stability and growth potential.

Value stocks are known for their lower than average price-to-earnings and price-to-book ratios, but investors should also note their lower than average sales and earnings growth rates. When you look at long-term performance, value stocks have outperformed growth stocks in nearly all markets. But in strong bull markets, growth stocks are more likely to be winners.

Costs

Cost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive counterparts if all other fundamentals are the same.

Annual operating expenses for this ETF are 0.35%, putting it on par with most peer products in the space.

It has a 12-month trailing dividend yield of 0.97%.

Sector Exposure and Top Holdings

It is important to delve into an ETF's holdings before investing despite the many upsides to these kinds of funds like diversified exposure, which minimizes single stock risk. And, most ETFs are very transparent products that disclose their holdings on a daily basis.

This ETF has heaviest allocation to the Consumer Discretionary sector -- about 20.4% of the portfolio. Financials and Energy round out the top three.

Looking at individual holdings, Avnet Inc (AVT) accounts for about 2.99% of total assets, followed by Pbf Energy Inc (PBF) and Arrow Electronics Inc (ARW).

The top 10 holdings account for about 22.98% of total assets under management.

Performance and Risk

RFV seeks to match the performance of the S&P MidCap 400 Pure Value Index before fees and expenses. 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.

The ETF has gained about 3.58% so far this year and it's up approximately 29.72% in the last one year (as of 04/07/2026). In the past 52-week period, it has traded between $97.97 and $142.77.

The ETF has a beta of 1.09 and standard deviation of 20.85% for the trailing three-year period, making it a high risk choice in the space. With about 102 holdings, it effectively diversifies company-specific risk.

Alternatives

Invesco S&P MidCap 400 Pure Value ETF carries a Zacks ETF Rank of 3 (Hold), which is based on expected asset class return, expense ratio, and momentum, among other factors. Thus, RFV is a sufficient option for those seeking exposure to the Style Box - Mid Cap Value area of the market. Investors might also want to consider some other ETF options in the space.

The iShares Russell Mid-Cap Value ETF (IWS) and the Vanguard Mid-Cap Value Index Fund ETF Shares (VOE) track a similar index. While iShares Russell Mid-Cap Value ETF has $14.38 billion in assets, Vanguard Mid-Cap Value Index Fund ETF Shares has $21.33 billion. IWS has an expense ratio of 0.23% and VOE charges 0.05%.

Bottom-Line

Retail and institutional investors increasingly turn to passively managed ETFs because they offer low costs, transparency, flexibility, and tax efficiency; these kind of funds are also excellent vehicles for long term investors.

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.