EELV vs. XSLV

Last updated Jun 26, 2026

EELV (Invesco S&P Emerging Markets Low Volatility ETF) and XSLV (Invesco S&P SmallCap Low Volatility ETF) are both Volatility Hedged Equity funds from Invesco - EELV tracks the S&P BMI Emerging Markets Low Volatility Index while XSLV tracks the S&P SmallCap 600 Low Volatility Index. Both are passively managed. Over the past 10 years, EELV returned 6.95%/yr vs 6.47%/yr for XSLV. At a 0.49 correlation, their price movements are largely independent. EELV charges 0.30%/yr vs 0.25%/yr for XSLV.

Performance

EELV vs. XSLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P Emerging Markets Low Volatility ETF (EELV) and Invesco S&P SmallCap Low Volatility ETF (XSLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EELV achieves a 4.41% return, which is significantly lower than XSLV's 13.44% return. Over the past 10 years, EELV has outperformed XSLV with an annualized return of 6.95%, while XSLV has yielded a comparatively lower 6.47% annualized return.

EELV

• 1D: 0.27%
• 1M: -1.33%
• YTD: 4.41%
• 6M: 4.10%
• 1Y: 12.92%
• 3Y*: 10.99%
• 5Y*: 7.34%
• 10Y*: 6.95%

XSLV

• 1D: 0.41%
• 1M: 4.10%
• YTD: 13.44%
• 6M: 11.71%
• 1Y: 18.26%
• 3Y*: 12.19%
• 5Y*: 4.34%
• 10Y*: 6.47%

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

EELV vs. XSLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EELV Invesco S&P Emerging Markets Low Volatility ETF	4.41%	21.97%	1.90%	8.85%	-3.98%	16.15%	-3.89%	8.89%	-5.40%	24.89%
XSLV Invesco S&P SmallCap Low Volatility ETF	13.44%	0.31%	9.81%	1.34%	-11.83%	29.34%	-17.40%	22.35%	-5.41%	8.57%

Correlation

The correlation between EELV and XSLV is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (10Y) Calculated over the trailing 10-year period	0.46
Correlation (All Time) Calculated using the full available price history since Feb 15, 2013	0.49

EELV vs. XSLV - Sectors Allocation Comparison

Sectors	EELV	XSLV
Financial Services	37.8%	43.2%
Consumer Defensive	10.9%	3.9%
Communication Services	9.7%	1.1%
Utilities	9.3%	9.1%
Industrials	8.9%	7.2%
Energy	6.5%	0.8%
Healthcare	5.2%	1.5%
Basic Materials	5.1%	2.7%
Consumer Cyclical	3.9%	2.3%
Real Estate	2.6%	28.5%
Technology	0.2%	0.9%

Return for Risk

EELV vs. XSLV — Risk / Return Rank

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

EELV

EELV Risk / Return Rank: 35
EELV Sharpe Ratio Rank: 37
EELV Sortino Ratio Rank: 36
EELV Omega Ratio Rank: 35
EELV Calmar Ratio Rank: 35
EELV Martin Ratio Rank: 35

XSLV

XSLV Risk / Return Rank: 47
XSLV Sharpe Ratio Rank: 44
XSLV Sortino Ratio Rank: 46
XSLV Omega Ratio Rank: 40
XSLV Calmar Ratio Rank: 57
XSLV Martin Ratio Rank: 47

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.

EELV vs. XSLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P Emerging Markets Low Volatility ETF (EELV) and Invesco S&P SmallCap Low Volatility ETF (XSLV). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	EELV	XSLV	Difference
Sharpe ratio: Return per unit of total volatility	1.18	1.38	-0.20
Sortino ratio: Return per unit of downside risk	1.71	2.07	-0.37
Omega ratio: Gain probability vs. loss probability	1.21	1.24	-0.02
Calmar ratio: Return relative to maximum drawdown	1.58	2.46	-0.88
Martin ratio: Return relative to average drawdown	4.96	7.00	-2.03

EELV vs. XSLV - Sharpe Ratio Comparison

The current EELV Sharpe Ratio is 1.18, which is comparable to the XSLV Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of EELV and XSLV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EELV vs. XSLV - Drawdown Comparison

The maximum EELV drawdown since its inception was -36.35%, smaller than the maximum XSLV drawdown of -44.34%. Use the drawdown chart below to compare losses from any high point for EELV and XSLV.

Drawdown Indicators

	EELV	XSLV	Difference
Max Drawdown Largest peak-to-trough decline	-36.35%	-44.34%	+7.99%
Max Drawdown (1Y) Largest decline over 1 year	-8.22%	-7.46%	-0.76%
Max Drawdown (3Y) Largest decline over 3 years	-11.79%	-18.35%	+6.56%
Max Drawdown (5Y) Largest decline over 5 years	-19.04%	-24.72%	+5.68%
Max Drawdown (10Y) Largest decline over 10 years	-36.35%	-44.34%	+7.99%
Current Drawdown Current decline from peak	-4.31%	0.00%	-4.31%
Average Drawdown Average peak-to-trough decline	-8.90%	-7.26%	-1.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.61%	2.62%	-0.01%

Volatility

EELV vs. XSLV - Volatility Comparison

The current volatility for Invesco S&P Emerging Markets Low Volatility ETF (EELV) is 3.35%, while Invesco S&P SmallCap Low Volatility ETF (XSLV) has a volatility of 4.63%. This indicates that EELV experiences smaller price fluctuations and is considered to be less risky than XSLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EELV	XSLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.35%	4.63%	-1.28%
Volatility (6M) Calculated over the trailing 6-month period	9.27%	9.40%	-0.13%
Volatility (1Y) Calculated over the trailing 1-year period	11.01%	13.45%	-2.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.40%	16.70%	-5.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.53%	19.93%	-6.40%

EELV vs. XSLV - Expense Ratio Comparison

EELV has a 0.30% expense ratio, which is higher than XSLV's 0.25% expense ratio.

Dividends

EELV vs. XSLV - Dividend Comparison

EELV's dividend yield for the trailing twelve months is around 3.94%, more than XSLV's 2.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EELV Invesco S&P Emerging Markets Low Volatility ETF	3.94%	3.75%	4.70%	4.00%	3.45%	4.35%	2.82%	3.14%	5.50%	2.92%	2.29%	2.53%
XSLV Invesco S&P SmallCap Low Volatility ETF	2.12%	2.14%	2.55%	2.35%	2.78%	1.05%	2.49%	2.43%	2.75%	1.87%	1.96%	2.20%

Frequently Asked Questions

Can I hold both EELV and XSLV in my portfolio?

EELV and XSLV have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EELV or XSLV?

XSLV has higher volatility (4.63%) compared to EELV (3.35%). In terms of maximum drawdown, EELV dropped -36.35% vs XSLV's -44.34%.

Which ETF is better, EELV or XSLV?

On 10-year performance, EELV leads with 6.95% vs 6.47% for XSLV. On fees, XSLV is cheaper at 0.25% per year. On volatility, EELV has been the lower-risk option at 3.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EELV or XSLV?

Over the 10-year period, EELV has performed better with a 6.95% return vs 6.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EELV or XSLV?

XSLV is cheaper with a 0.25% expense ratio, compared with 0.30% for EELV.

Which ETF pays a higher dividend yield, EELV or XSLV?

EELV has the higher dividend yield at 3.94%, compared with 2.12% for XSLV.

What is the main difference between EELV and XSLV?

EELV tracks S&P BMI Emerging Markets Low Volatility Index, while XSLV tracks S&P SmallCap 600 Low Volatility Index. Their fees differ too: 0.30% for EELV and 0.25% for XSLV.

Which has better risk-adjusted returns?

XSLV currently has the higher Sharpe Ratio (1.38 vs 1.18), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.