LGLV vs. SPMV

Last updated Jun 4, 2026

LGLV (SPDR SSGA US Large Cap Low Volatility Index ETF) and SPMV (Invesco S&P 500 Minimum Variance ETF) are both exchange-traded funds - LGLV is a Volatility Hedged Equity fund tracking the SSGA US Large Cap Low Volatility (TR), while SPMV is a S&P 500 fund tracking the S&P 500 Minimum Volatility Index. Both are passively managed. A 0.79 correlation means they provide meaningful diversification when combined. LGLV charges 0.12%/yr vs 0.10%/yr for SPMV.

Performance

LGLV vs. SPMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR SSGA US Large Cap Low Volatility Index ETF (LGLV) and Invesco S&P 500 Minimum Variance ETF (SPMV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

LGLV

• 1D: -0.06%
• 1M: -1.79%
• YTD: 0.83%
• 6M: 1.07%
• 1Y: 2.87%
• 3Y*: 11.07%
• 5Y*: 7.70%
• 10Y*: 11.00%

SPMV

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

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

LGLV vs. SPMV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LGLV SPDR SSGA US Large Cap Low Volatility Index ETF	0.83%	8.37%	16.22%	9.19%	-8.17%	27.95%	7.42%	30.83%	0.32%	7.81%
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 LGLV and SPMV is 0.59, 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	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Aug 25, 2017	0.79

Over the past year, the correlation between LGLV and SPMV has dropped to 0.59 - well below their long-term average of 0.79, suggesting their price drivers have been diverging.

LGLV vs. SPMV - Sectors Allocation Comparison

Sectors	LGLV	SPMV
Industrials	18.4%	6.0%
Real Estate	17.4%	0.2%
Utilities	11.8%	2.8%
Financial Services	9.9%	17.8%
Consumer Cyclical	9.4%	6.6%
Technology	8.8%	26.9%
Healthcare	7.0%	15.0%
Consumer Defensive	5.9%	10.7%
Communication Services	4.2%	6.5%
Energy	3.7%	4.8%
Basic Materials	3.5%	2.6%

Return for Risk

LGLV vs. SPMV — Risk / Return Rank

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

LGLV

LGLV Risk / Return Rank: 13
LGLV Sharpe Ratio Rank: 13
LGLV Sortino Ratio Rank: 12
LGLV Omega Ratio Rank: 12
LGLV Calmar Ratio Rank: 14
LGLV Martin Ratio Rank: 14

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.

LGLV vs. SPMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR SSGA US Large Cap Low Volatility Index ETF (LGLV) 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.

	LGLV	SPMV	Difference
Sharpe ratio: Return per unit of total volatility	0.31	—	—
Sortino ratio: Return per unit of downside risk	0.51	—	—
Omega ratio: Gain probability vs. loss probability	1.06	—	—
Calmar ratio: Return relative to maximum drawdown	0.42	—	—
Martin ratio: Return relative to average drawdown	1.08	—	—
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

	LGLV	SPMV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.31	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.76	—	—

Drawdowns

Drawdown Indicators

	LGLV	SPMV	Difference
Max Drawdown Largest peak-to-trough decline	-36.64%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-6.86%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-10.17%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-17.49%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-36.64%	—	—
Current Drawdown Current decline from peak	-6.60%	—	—
Average Drawdown Average peak-to-trough decline	-3.21%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.67%	—	—

Volatility

Volatility by Period

	LGLV	SPMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.42%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.52%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	9.20%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.91%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.06%	—	—

LGLV vs. SPMV - Expense Ratio Comparison

LGLV has a 0.12% 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

LGLV vs. SPMV - Dividend Comparison

LGLV's dividend yield for the trailing twelve months is around 2.04%, more than SPMV's 1.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LGLV SPDR SSGA US Large Cap Low Volatility Index ETF	2.04%	1.94%	1.93%	2.03%	1.95%	1.65%	1.98%	1.89%	2.09%	4.39%	2.54%	2.97%
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%	0.00%

Frequently Asked Questions

Can I hold both LGLV and SPMV in my portfolio?

LGLV and SPMV have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LGLV 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, LGLV or SPMV?

SPMV is cheaper with a 0.10% expense ratio, compared with 0.12% for LGLV.

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

LGLV has the higher dividend yield at 2.04%, compared with 1.45% for SPMV.

What is the main difference between LGLV and SPMV?

LGLV is categorized as Volatility Hedged Equity, while SPMV is S&P 500. LGLV tracks SSGA US Large Cap Low Volatility (TR), while SPMV tracks S&P 500 Minimum Volatility Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.12% for LGLV and 0.10% for SPMV.