RWJ
Invesco S&P SmallCap 600 Revenue ETF
RWJ tracks an index of S&P SmallCap 600 Index stocks that are weighted by revenue.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
1.6 B
ASSETS UNDER MGMT
39 bp
EXPENSES
Fund Basics
| Fund sponsor | Invesco |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Feb 19, 2008 |
| Assets (mns) | $1,572 |
| Expense ratio | 39 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Committee |
| Weighting | Revenue |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| UNITED NATURAL FOODS INC | 3.3 % |
| WORLD KINECT CORP | 2.9 % |
| GROUP 1 AUTOMOTIVE INC | 1.5 % |
| LINCOLN NATIONAL CORP | 1.3 % |
| MANPOWER INC | 1.3 % |
| ASBURY AUTOMOTIVE GROUP | 1.3 % |
| KOHLS CORP | 1.2 % |
| ADIENT PLC | 1.1 % |
| BORGWARNER INC | 1.0 % |
| AMENTUM HOLDINGS INC | 1.0 % |
Constituent Breakdown
| Number of holdings | 565 |
| Herfindahl-Hirschman Index | 56 |
| Wgt avg mkt cap (mns) | $2,827 |
| Large cap (>$10bn) | 50.0% |
| Mid cap ($2-10bn) | 44.2% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 93.2% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 90.2 % |
 |
IRELAND | 1.3 % |
 |
BERMUDA | 0.9 % |
 |
BRITAIN | 0.7 % |
Historical Performance
Standardized Performance (as of 09/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 5.6% | 5.7% | 15.2% | 14.6% | 19.5% | 11.1% | -- | 10.6% |
| Dividend Yield | 0.7% | 0.9% | 1.3% | 1.4% | 1.2% | 1.2% | -- | 1.0% |
| Total Returns | 6.2% | 6.6% | 16.5% | 16.0% | 20.7% | 12.3% | -- | 11.6% | Ann. Volatility | 27.0% | 25.7% | 24.1% | 23.9% | 26.0% | 26.3% | -- | 27.0% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.39 | 61% |
| MSCI EAFE | 0.87 | 30% |
| MSCI Emg Mkts | 0.47 | 10% |
Liquidity Measures
| Avg. volume (000) | 123 |
| ADV traded (mns) | $6 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.15% |
Technical Indicators
| Recent close | $47.40 |
| 30d moving avg. | $48.20 |
| Annualized volatility | 23.8% |
| Relative strength (RSI) | 57 |
| Short interest | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| IJS | iShares S&P Small-Cap 600 Value ETF | 55.6% | -21 bp | +9.7% |
| IJR | iShares Core S&P Small Cap ETF | 55.4% | -33 bp | +7.6% |
| VIOO | Vanguard S&P Small-Cap 600 ETF | 53.6% | -32 bp | +7.7% |
| SPSM | SPDR Portfolio S&P 600 Small Cap ETF | 53.5% | -36 bp | +7.7% |
| VIOV | Vanguard S&P Small-Cap 600 Value ETF | 53.4% | -29 bp | +10.0% |
| SLYV | SPDR S&P 600 Small Cap Value ETF | 53.2% | -24 bp | +9.7% |
| XJR | iShares ESG Screened S&P Small-Cap ETF | 52.8% | -27 bp | +7.6% |
| QVMS | Invesco S&P SmallCap 600 QVM Multi-factor ETF | 52.5% | -24 bp | +7.8% |
| ESIX | SPDR S&P SmallCap 600 ESG ETF | 46.0% | -27 bp | +8.3% |
| RZV | Invesco S&P Smallcap 600 Pure Value ETF | 39.4% | -4 bp | +10.3% |
Risk and Returns: RWJ vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 10/31/2025
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
ALTAR Score™
RWJ
9.9%
Cat. Avg
5.7%
ALTAR Score™ Calculation
Category Overview
There are 992 funds in the US Equity category, with an average ALTAR Score™
of 5.7% and a standard deviation of
2.4%. RWJ's ALTAR Score™ is approximately
1.8 standard deviations
above
the category average. This places RWJ in the 96th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
RWJSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 627 |
| Avg. Expense Ratio | 46.1 bp |
| Std. Deviation | 32.8 bp |
| RWJ (39 bp) Percentile rank | 41 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| RWJ | 39.0 | 15.4 | 54.4 |
| Peer Avg. | 46.1 | 15.6 | 61.7 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .