IVOO vs. QVMM
Compare and contrast key facts about Vanguard S&P Mid-Cap 400 ETF (IVOO) and Invesco S&P MidCap 400 QVM Multi-factor ETF (QVMM).
IVOO and QVMM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IVOO is a passively managed fund by Vanguard that tracks the performance of the S&P MidCap 400 Index. It was launched on Sep 7, 2010. QVMM is a passively managed fund by Invesco that tracks the performance of the S&P MidCap 400 Quality, Value & Momentum Top 90% Multi-Factor Index - Benchmark TR Gross. It was launched on Jun 30, 2021. Both IVOO and QVMM are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
IVOO vs. QVMM - Performance Comparison
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IVOO vs. QVMM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IVOO Vanguard S&P Mid-Cap 400 ETF | 2.57% | 7.47% | 13.77% | 16.45% | -13.17% | 6.04% |
QVMM Invesco S&P MidCap 400 QVM Multi-factor ETF | 3.32% | 8.82% | 13.36% | 15.43% | -13.06% | 6.04% |
Returns By Period
In the year-to-date period, IVOO achieves a 2.57% return, which is significantly lower than QVMM's 3.32% return.
IVOO
- 1D
- 2.97%
- 1M
- -5.28%
- YTD
- 2.57%
- 6M
- 4.28%
- 1Y
- 17.42%
- 3Y*
- 12.05%
- 5Y*
- 6.55%
- 10Y*
- 10.44%
QVMM
- 1D
- 2.76%
- 1M
- -4.92%
- YTD
- 3.32%
- 6M
- 5.26%
- 1Y
- 18.80%
- 3Y*
- 12.60%
- 5Y*
- —
- 10Y*
- —
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IVOO vs. QVMM - Expense Ratio Comparison
IVOO has a 0.10% expense ratio, which is lower than QVMM's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
IVOO vs. QVMM — Risk / Return Rank
IVOO
QVMM
IVOO vs. QVMM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Mid-Cap 400 ETF (IVOO) and Invesco S&P MidCap 400 QVM Multi-factor ETF (QVMM). 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.
| IVOO | QVMM | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.82 | 0.91 | -0.08 |
Sortino ratioReturn per unit of downside risk | 1.30 | 1.40 | -0.10 |
Omega ratioGain probability vs. loss probability | 1.18 | 1.20 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.24 | 1.35 | -0.11 |
Martin ratioReturn relative to average drawdown | 5.38 | 6.02 | -0.65 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IVOO | QVMM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.82 | 0.91 | -0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.33 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.49 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.34 | +0.24 |
Correlation
The correlation between IVOO and QVMM is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
IVOO vs. QVMM - Dividend Comparison
IVOO's dividend yield for the trailing twelve months is around 1.32%, more than QVMM's 1.29% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IVOO Vanguard S&P Mid-Cap 400 ETF | 1.32% | 1.35% | 1.30% | 1.25% | 1.58% | 1.14% | 1.23% | 1.49% | 1.56% | 1.22% | 1.37% | 1.45% |
QVMM Invesco S&P MidCap 400 QVM Multi-factor ETF | 1.29% | 1.32% | 1.29% | 1.42% | 1.51% | 0.60% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
IVOO vs. QVMM - Drawdown Comparison
The maximum IVOO drawdown since its inception was -42.33%, which is greater than QVMM's maximum drawdown of -24.00%. Use the drawdown chart below to compare losses from any high point for IVOO and QVMM.
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Drawdown Indicators
| IVOO | QVMM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.33% | -24.00% | -18.33% |
Max Drawdown (1Y)Largest decline over 1 year | -14.17% | -14.17% | 0.00% |
Max Drawdown (5Y)Largest decline over 5 years | -24.22% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -42.33% | — | — |
Current DrawdownCurrent decline from peak | -6.10% | -5.77% | -0.33% |
Average DrawdownAverage peak-to-trough decline | -5.31% | -7.29% | +1.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.27% | 3.17% | +0.10% |
Volatility
IVOO vs. QVMM - Volatility Comparison
Vanguard S&P Mid-Cap 400 ETF (IVOO) and Invesco S&P MidCap 400 QVM Multi-factor ETF (QVMM) have volatilities of 6.56% and 6.32%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IVOO | QVMM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.56% | 6.32% | +0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 11.90% | 11.56% | +0.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.22% | 20.79% | +0.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.73% | 19.61% | +0.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.17% | 19.61% | +1.56% |