RWL vs TVAL: Differences, Returns & Fees
RWL and TVAL hold 39% of their weight in the same names, and TVAL returned +26.8% over the year. Net assets on Oct 9, 2026: $10.0bn for Invesco S&P 500 Revenue ETF and $1.1bn for T. Rowe Price Value ETF.
TVAL costs 0.06 points a year less; their one-year returns differ by 5.7 points; RWL is 9.3 times larger.
| RWL | TVAL | |
|---|---|---|
| Expense ratio | 0.39% | 0.33% |
| Net assets | $10.0bn | $1.1bn |
| Total return, 1 year | +21.1% | +26.8% |
| What it tracks | S&P 500 Revenue-Weighted Index | No index, actively managed |
| Holdings in common | 39% | |
| Holdings dated | Oct 10, 2026 | Jun 30, 2026 |
| Top ten holdings, share of the fund | 24.0% | 23.0% |
Holdings in common uses holdings dated Jun 30, 2026 and Oct 9, 2026.
What they hold in common
By the books each fund has filed, RWL and TVAL hold 39% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Jun 30, 2026 and Oct 9, 2026.
half
39% in common
On the same fields
RWL and TVAL on the fields both publish, as of Oct 9, 2026. Source: ETFIQ.
About RWL
RWL tracks an index. Over the year to Oct 9, 2026 it returned +21.1% with distributions reinvested. The prospectus expense ratio is 0.39% a year. By its holdings published by its issuer for Oct 10, 2026, 99% of the fund by weight is stocks the S&P 500 also holds, across 505 positions, with the top ten at 24.0%.
About TVAL
TVAL is actively managed and tracks no index. The prospectus expense ratio is 0.33% a year. By its holdings filed for Jun 30, 2026, 93% of the fund by weight is stocks the S&P 500 also holds, across 158 positions, with the top ten at 23.0%.
Over the year to Oct 9, 2026 it returned +26.8% with distributions reinvested, against +26.4% for its benchmark, the Russell 1000 Value Index.
Questions people ask
- Which returned more over the last year, RWL or TVAL?
- In the year to Oct 9, 2026, with distributions reinvested, RWL returned +21.1% and TVAL +26.8%.
- Which is cheaper, RWL or TVAL?
- TVAL is cheaper, by 0.06 percentage points a year. That is about $6 on $10,000 held for a year. Fees come from each fund's prospectus.
ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, RWL against TVAL, data as of Oct 9, 2026. https://etfiq.com/compare/any/rwl-vs-tval
ETFIQ. (Oct 9, 2026). RWL against TVAL. Retrieved from https://etfiq.com/compare/any/rwl-vs-tval
[RWL against TVAL (ETFIQ, Oct 9, 2026)](https://etfiq.com/compare/any/rwl-vs-tval)
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