Invesco S&P 500 Pure Value ETF

Frequently Asked Questions About RPV

What does RPV invest in?

The Invesco S&P 500 Pure Value ETF, identified by the symbol RPV, is designed to track the performance of the S&P 500 Pure Value Index. This fund is committed to investing a minimum of 90% of its total assets in the underlying securities that make up this index. The index itself aims to capture the returns of companies within the broader S&P 500 universe that prominently display strong "value" characteristics. Its methodology begins by evaluating every security in the S&P 500 and assigning it distinct "style scores" for both value and growth, based on inherent company attributes. The "value score" is derived from three financial ratios: book-value-to-price, earnings-to-price, and sales-to-price. Conversely, the "growth score" considers different factors, such as the three-year growth in sales per share, the three-year ratio of earnings per share change relative to price, and the stock's 12-month price momentum. These individual growth and value scores are then compared (specifically, the growth score divided by the value score) to classify each stock into one of three categories: "deep value," "blend," or "deep growth." Only those stocks designated as "deep value" are ultimately selected for inclusion in the index. Furthermore, these chosen securities are weighted according to their value strength, meaning those with the most compelling value attributes receive a proportionally larger allocation within the index. Both the ETF and its benchmark index undergo a comprehensive rebalancing process on an annual basis.

What is the expense ratio of RPV?

Invesco S&P 500 Pure Value ETF (RPV) charges an expense ratio of 0.35%. This is the annual fee deducted from fund assets to cover management and operations.

How big is RPV?

Invesco S&P 500 Pure Value ETF (RPV) manages $1.75B in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation.

Is RPV actively managed or an index fund?

RPV is a passive index fund. It tracks a published benchmark by holding the constituents in their published weights. Index funds typically charge low expense ratios (RPV's is 0.35%) because there's no security selection cost.

When was RPV launched?

Invesco S&P 500 Pure Value ETF (RPV) launched in March 2006 and is managed by Invesco.

How has RPV performed?

RPV's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.