Investors are choosing between Invesco S&P SmallCap 600 Revenue ETF (RZG +0.90%) And Vanguard S&P 500 Growth ETF (woog +1.22%) The high historical returns of large-cap growth must be weighed against the recent momentum of small-cap revenue-weighted stocks.
Both funds aim for growth, but they seek it in completely different corners of the market. While RZG uses a revenue-weighted strategy to filter the small-cap universe, VOOG tracks a growth-oriented subset of the S&P 500, offering a traditional large-cap growth profile.
Snapshot (cost and size)
| metric | RZG | VOOG |
|---|---|---|
| Issuer | invesco | vanguard |
| Share price (as of June 30, 2026) | $72.69 | $82.62 |
| expense ratio | 0.35% | 0.07% |
| 1-Year Returns (by June 30, 2026) | 44.5% | 25.7% |
| dividend yield | 0.40% | 0.50% |
| beta | 1.12 | 1.17 |
| Om | $142.9 million | $26.5 billion |
Beta measures price volatility relative to the S&P 500; Beta is calculated from five-year monthly returns. 1-year returns represent the total returns over the last 12 months. Dividend yield is the trailing 12-month distribution yield.
With an expense ratio of 0.07% compared to the Invesco ETF’s 0.35%, the Vanguard fund is more affordable. VOOG also offers a slightly higher trailing-12-month dividend yield.
Performance and risk comparison
| metric | RZG | VOOG |
|---|---|---|
| Maximum drawdown (5 years) | (38.3%) | (32.7%) |
| $1,000 growth in 5 years (total return) | $1,401 | $1,954 |
what’s inside
The Vanguard ETF offers concentrated exposure to large-cap leaders, consisting of technology 53%, communication services 17% and a consumer cyclical portfolio of 9%. Its largest positions include NVIDIA (NVDA +0.38%) At 14.27%, Microsoft (MSFT 0.94%) at 9.3%, and Apple (AAPL +1.36%) At 6.37%. The fund holds 146 stocks and was launched in 2010. It paid $0.37 per share over the last 12 months, which equates to a 0.50% yield on its recent ~$83 share price.
Invesco’s fund takes a different approach by weighting 125 small-cap stocks by revenue. Sector exposure is more balanced, with health care at 23%, technology at 17% and industrials at 17%. Its largest positions include ACM Research (ACMR +0.54%) At 3.29%, Powell Industries (Powl +0.70%) at 2.13%, and Stonex Group (SNEX +1.68%) At 1.95%. It was launched in 2006. The fund paid $0.30 per share over the last 12 months, which equates to a 0.40% yield on its recent ~$73 share price.
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What does this mean for investors
I think VOOG looks more attractive here. The Vanguard fund has a lower expense ratio, higher dividend yield and more stocks than the Invesco ETF. I would argue that despite the high number of equities, VOOG’s portfolio is quite concentrated. Nvidia, Apple and Microsoft make up about one-third of the fund. In contrast, no position in the RZG exceeds 4%. But VOOG’s long term returns are better than RZG.
Finally, the Vanguard fund absolutely dwarfs RZG in terms of assets under management. As a result, VOOG’s average trading volume is much higher – on a volume basis. This increased liquidity may be attractive to some investors.