FLLV vs. SPMV

Last updated Aug 1, 2026

FLLV (Franklin Liberty U.S. Low Volatility ETF) and SPMV (Invesco S&P 500 Minimum Variance ETF) are both exchange-traded funds - FLLV is a Low Volatility fund actively managed by Franklin Templeton, while SPMV is a S&P 500 fund tracking the S&P 500 Minimum Volatility Index. FLLV is actively managed, while SPMV is passively managed. Their correlation of 0.81 means they have usually moved in the same direction. FLLV charges 0.29%/yr vs 0.10%/yr for SPMV.

Performance

FLLV vs. SPMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Liberty U.S. Low Volatility ETF (FLLV) and Invesco S&P 500 Minimum Variance ETF (SPMV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FLLV

• 1D: 0.47%
• 1M: 0.96%
• 6M: 8.29%
• YTD: 14.91%
• 1Y: 26.00%
• 3Y*: 15.52%
• 5Y*: 10.49%
• 10Y*: —
• ALL TIME*: 13.06%

SPMV

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

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FLLV Franklin Liberty U.S. Low Volatility ETF	$621.36K	$657.47K	$945.62K

FLLV vs. SPMV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLLV Franklin Liberty U.S. Low Volatility ETF	14.91%	15.92%	10.70%	13.87%	-8.54%	23.36%	12.33%	32.72%	-2.14%	9.61%
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 FLLV and SPMV is 0.48, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.48
Correlation (3Y) Balances recent behavior with more history.	0.73
Correlation (5Y) Shows whether the relationship held over a longer period.	0.84
Correlation (All Time) Calculated using the full available price history since Aug 24, 2017	0.81

Over the past year, the correlation between FLLV and SPMV has dropped to 0.48 - well below their long-term average of 0.81, suggesting their price drivers have been diverging.

FLLV vs. SPMV - Sectors Allocation Comparison

Sectors	FLLV	SPMV
Technology	28.8%	26.9%
Financial Services	13.0%	17.8%
Healthcare	11.6%	15.0%
Consumer Cyclical	11.0%	6.6%
Industrials	9.6%	6.0%
Communication Services	7.8%	6.5%
Consumer Defensive	6.1%	10.7%
Energy	4.4%	4.8%
Basic Materials	2.7%	2.6%
Utilities	2.6%	2.8%
Real Estate	2.5%	0.2%

Return for Risk

FLLV vs. SPMV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FLLV

FLLV Risk / Return Rank: 96
FLLV Sharpe Ratio Rank: 96
FLLV Sortino Ratio Rank: 96
FLLV Omega Ratio Rank: 95
FLLV Calmar Ratio Rank: 95
FLLV Martin Ratio Rank: 95

SPMV

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FLLV vs. SPMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Liberty U.S. Low Volatility ETF (FLLV) 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.

	FLLV	SPMV	Difference
Sharpe ratio: Return per unit of total volatility	3.09	—	—
Sortino ratio: Return per unit of downside risk	4.48	—	—
Omega ratio: Gain probability vs. loss probability	1.58	—	—
Calmar ratio: Return relative to maximum drawdown	5.24	—	—
Martin ratio: Return relative to average drawdown	20.20	—	—

Drawdowns

Drawdown Indicators

	FLLV	SPMV	Difference
Max Drawdown Largest peak-to-trough decline	-33.95%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-4.90%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-14.01%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.40%	—	—
Current Drawdown Current decline from peak	-0.16%	—	—
Average Drawdown Average peak-to-trough decline	-3.22%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.27%	—	—

Volatility

Volatility by Period

	FLLV	SPMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.46%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.15%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	8.40%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.25%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.60%	—	—

FLLV vs. SPMV - Expense Ratio Comparison

FLLV has a 0.29% expense ratio, which is higher than SPMV's 0.10% expense ratio.

Dividends

FLLV vs. SPMV - Dividend Comparison

FLLV's dividend yield for the trailing twelve months is around 4.84%, while SPMV has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FLLV Franklin Liberty U.S. Low Volatility ETF	4.84%	4.71%	3.25%	1.75%	1.68%	1.41%	1.40%	1.31%	1.55%	1.44%	0.50%
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%	0.00%

Frequently Asked Questions

Can I hold both FLLV and SPMV in my portfolio?

FLLV and SPMV have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FLLV 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, FLLV or SPMV?

SPMV is cheaper with a 0.10% expense ratio, compared with 0.29% for FLLV.

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

FLLV has the higher dividend yield at 4.84%, compared with 1.05% for SPMV.

What is the main difference between FLLV and SPMV?

FLLV is categorized as Low Volatility, while SPMV is S&P 500. They also come from different issuers: Franklin Templeton and Invesco. Their fees differ too: 0.29% for FLLV and 0.10% for SPMV.