ESMV vs. SPMV
ESMV (iShares ESG MSCI USA Min Vol Factor ETF) and SPMV (Invesco S&P 500 Minimum Variance ETF) are both exchange-traded funds - ESMV is a Low Volatility fund tracking the MSCI USA Minimum Volatility Extended ESG Reduced Carbon Target Index - Benchmark TR Gross, while SPMV is a S&P 500 fund tracking the S&P 500 Minimum Volatility Index. Both are passively managed. Their correlation of 0.84 means they have usually moved in the same direction. ESMV charges 0.18%/yr vs 0.10%/yr for SPMV.
Performance
ESMV vs. SPMV - Performance Comparison
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Returns By Period
ESMV
- 1D
- 0.22%
- 1M
- -0.16%
- 6M
- 6.27%
- YTD
- 7.33%
- 1Y
- 9.71%
- 3Y*
- 10.25%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.96%
SPMV
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $7.55K | $9.03K | $12.67K |
ESMV vs. SPMV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ESMV iShares ESG MSCI USA Min Vol Factor ETF | 7.33% | 5.34% | 13.06% | 12.20% | -11.08% | 3.13% |
SPMV Invesco S&P 500 Minimum Variance ETF | 0.87% | 11.69% | 18.78% | 10.28% | -10.84% | 5.48% |
Correlation
The correlation between ESMV and SPMV is 0.56, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.56 |
Correlation (3Y) Balances recent behavior with more history. | 0.82 |
Correlation (All Time) Calculated using the full available price history since Nov 4, 2021 | 0.84 |
Over the past year, the correlation between ESMV and SPMV has dropped to 0.56 - well below their long-term average of 0.84, suggesting their price drivers have been diverging.
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Return for Risk
ESMV vs. SPMV — Risk / Return Rank
ESMV
SPMV
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
ESMV vs. SPMV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares ESG MSCI USA Min Vol Factor ETF (ESMV) 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.
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.
| ESMV | SPMV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.18 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.32 | — | — |
| Martin ratioReturn relative to average drawdown | 4.05 | — | — |
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Drawdowns
ESMV vs. SPMV - Drawdown Comparison
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Drawdown Indicators
| ESMV | SPMV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.77% | — | — |
Max Drawdown (1Y)Largest decline over 1 year | -7.01% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -12.16% | — | — |
Current DrawdownCurrent decline from peak | -0.51% | — | — |
Average DrawdownAverage peak-to-trough decline | -5.18% | — | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.28% | — | — |
Volatility
ESMV vs. SPMV - Volatility Comparison
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Volatility by Period
| ESMV | SPMV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.50% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 6.60% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 10.04% | — | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.11% | — | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.11% | — | — |
ESMV vs. SPMV - Expense Ratio Comparison
ESMV has a 0.18% expense ratio, which is higher than SPMV's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
ESMV vs. SPMV - Dividend Comparison
ESMV's dividend yield for the trailing twelve months is around 1.50%, while SPMV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
ESMV iShares ESG MSCI USA Min Vol Factor ETF | 1.50% | 1.56% | 1.71% | 1.75% | 1.66% | 0.24% | 0.00% | 0.00% | 0.00% | 0.00% |
SPMV Invesco S&P 500 Minimum Variance ETF | 1.05% | 1.53% | 1.53% | 2.28% | 1.79% | 1.28% | 1.71% | 3.13% | 2.11% | 1.72% |
Frequently Asked Questions
ESMV and SPMV have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
SPMV is cheaper with a 0.10% expense ratio, compared with 0.18% for ESMV.
ESMV has the higher dividend yield at 1.50%, compared with 1.05% for SPMV.
ESMV is categorized as Low Volatility, while SPMV is S&P 500. ESMV tracks MSCI USA Minimum Volatility Extended ESG Reduced Carbon Target Index - Benchmark TR Gross, while SPMV tracks S&P 500 Minimum Volatility Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.18% for ESMV and 0.10% for SPMV.
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