CWS vs. SPMV

Last updated Jun 4, 2026

CWS (AdvisorShares Focused Equity ETF) and SPMV (Invesco S&P 500 Minimum Variance ETF) are both exchange-traded funds - CWS is a Large Cap Growth Equities fund actively managed by AdvisorShares, while SPMV is a S&P 500 fund tracking the S&P 500 Minimum Volatility Index. CWS is actively managed, while SPMV is passively managed. A 0.73 correlation means they provide meaningful diversification when combined. CWS charges 0.77%/yr vs 0.10%/yr for SPMV.

Performance

CWS vs. SPMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AdvisorShares Focused Equity ETF (CWS) and Invesco S&P 500 Minimum Variance ETF (SPMV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CWS

• 1D: -0.02%
• 1M: -0.37%
• YTD: -1.80%
• 6M: -1.31%
• 1Y: -0.99%
• 3Y*: 10.25%
• 5Y*: 8.16%
• 10Y*: —

SPMV

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CWS vs. SPMV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CWS AdvisorShares Focused Equity ETF	-1.80%	6.43%	9.82%	25.06%	-10.42%	22.20%	17.12%	30.97%	-6.46%	13.13%
SPMV Invesco S&P 500 Minimum Variance ETF	0.87%	11.69%	18.78%	10.28%	-10.84%	24.35%	8.57%	32.13%	-6.28%	7.84%

Correlation

The correlation between CWS and SPMV is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (All Time) Calculated using the full available price history since Aug 25, 2017	0.73

The correlation between CWS and SPMV shifts across timeframes, from 0.61 (1 year) to 0.80 (5 years), reflecting how their relationship changes across market environments.

CWS vs. SPMV - Sectors Allocation Comparison

Sectors	CWS	SPMV
Healthcare	25.1%	15.0%
Industrials	22.4%	6.0%
Technology	18.5%	26.9%
Consumer Cyclical	15.1%	6.6%
Financial Services	10.8%	17.8%
Consumer Defensive	4.2%	10.7%
Utilities	4.0%	2.8%
Basic Materials	-	2.6%
Communication Services	-	6.5%
Energy	-	4.8%
Real Estate	-	0.2%

Return for Risk

CWS vs. SPMV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CWS

CWS Risk / Return Rank: 8
CWS Sharpe Ratio Rank: 8
CWS Sortino Ratio Rank: 7
CWS Omega Ratio Rank: 7
CWS Calmar Ratio Rank: 8
CWS Martin Ratio Rank: 8

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CWS vs. SPMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AdvisorShares Focused Equity ETF (CWS) and Invesco S&P 500 Minimum Variance ETF (SPMV). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CWS	SPMV	Difference
Sharpe ratio: Return per unit of total volatility	-0.08	—	—
Sortino ratio: Return per unit of downside risk	-0.01	—	—
Omega ratio: Gain probability vs. loss probability	1.00	—	—
Calmar ratio: Return relative to maximum drawdown	-0.08	—	—
Martin ratio: Return relative to average drawdown	-0.22	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	CWS	SPMV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.08	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	—	—

Drawdowns

Drawdown Indicators

	CWS	SPMV	Difference
Max Drawdown Largest peak-to-trough decline	-33.82%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-11.92%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-16.56%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-24.87%	—	—
Current Drawdown Current decline from peak	-6.21%	—	—
Average Drawdown Average peak-to-trough decline	-4.54%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	4.61%	—	—

Volatility

Volatility by Period

	CWS	SPMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.27%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.29%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	13.28%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.66%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.91%	—	—

CWS vs. SPMV - Expense Ratio Comparison

CWS has a 0.77% expense ratio, which is higher than SPMV's 0.10% expense ratio.

Dividends

CWS vs. SPMV - Dividend Comparison

CWS's dividend yield for the trailing twelve months is around 0.31%, less than SPMV's 1.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CWS AdvisorShares Focused Equity ETF	0.31%	0.31%	0.59%	0.25%	0.50%	0.16%	0.27%	0.39%	2.07%	0.29%	0.03%
SPMV Invesco S&P 500 Minimum Variance ETF	1.45%	1.53%	1.53%	2.28%	1.79%	1.28%	1.71%	3.13%	2.11%	1.72%	0.00%

Frequently Asked Questions

Can I hold both CWS and SPMV in my portfolio?

CWS and SPMV have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CWS or SPMV?

On fees, SPMV is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CWS or SPMV?

SPMV is cheaper with a 0.10% expense ratio, compared with 0.77% for CWS.

Which ETF pays a higher dividend yield, CWS or SPMV?

SPMV has the higher dividend yield at 1.45%, compared with 0.31% for CWS.

What is the main difference between CWS and SPMV?

CWS is categorized as Large Cap Growth Equities, while SPMV is S&P 500. They also come from different issuers: AdvisorShares and Invesco. Their fees differ too: 0.77% for CWS and 0.10% for SPMV.