MVAL vs. SPLV

Last updated Jun 24, 2026

MVAL (VanEck Morningstar Wide Moat Value ETF) and SPLV (Invesco S&P 500 Low Volatility ETF) are both exchange-traded funds - MVAL is a Large Cap Value Equities fund tracking the Morningstar US Broad Value Wide Moat Focus Index - Benchmark TR Gross, while SPLV is a S&P 500 fund tracking the S&P 500 Low Volatility Index. Both are passively managed. Over the past year, MVAL returned 15.04% vs 4.45% for SPLV. A 0.63 correlation means they provide meaningful diversification when combined. MVAL charges 0.49%/yr vs 0.25%/yr for SPLV.

Performance

MVAL vs. SPLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Morningstar Wide Moat Value ETF (MVAL) and Invesco S&P 500 Low Volatility ETF (SPLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MVAL achieves a -0.87% return, which is significantly lower than SPLV's 5.06% return.

MVAL

• 1D: 0.42%
• 1M: 0.03%
• YTD: -0.87%
• 6M: -1.04%
• 1Y: 15.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPLV

• 1D: 1.32%
• 1M: 0.35%
• YTD: 5.06%
• 6M: 4.84%
• 1Y: 4.45%
• 3Y*: 8.50%
• 5Y*: 6.37%
• 10Y*: 8.38%

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

MVAL vs. SPLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MVAL VanEck Morningstar Wide Moat Value ETF	-0.87%	14.17%	6.27%
SPLV Invesco S&P 500 Low Volatility ETF	5.06%	4.10%	8.12%

Correlation

The correlation between MVAL and SPLV is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (All Time) Calculated using the full available price history since Mar 28, 2024	0.63

The correlation between MVAL and SPLV shifts across timeframes, from 0.49 (1 year) to 0.63 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MVAL vs. SPLV — Risk / Return Rank

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

MVAL

MVAL Risk / Return Rank: 29
MVAL Sharpe Ratio Rank: 33
MVAL Sortino Ratio Rank: 34
MVAL Omega Ratio Rank: 29
MVAL Calmar Ratio Rank: 27
MVAL Martin Ratio Rank: 24

SPLV

SPLV Risk / Return Rank: 15
SPLV Sharpe Ratio Rank: 15
SPLV Sortino Ratio Rank: 14
SPLV Omega Ratio Rank: 13
SPLV Calmar Ratio Rank: 16
SPLV Martin Ratio Rank: 15

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.

MVAL vs. SPLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Morningstar Wide Moat Value ETF (MVAL) and Invesco S&P 500 Low Volatility ETF (SPLV). 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.

	MVAL	SPLV	Difference
Sharpe ratio: Return per unit of total volatility	1.09	0.44	+0.66
Sortino ratio: Return per unit of downside risk	1.69	0.68	+1.00
Omega ratio: Gain probability vs. loss probability	1.19	1.08	+0.11
Calmar ratio: Return relative to maximum drawdown	1.24	0.60	+0.64
Martin ratio: Return relative to average drawdown	2.86	1.39	+1.47

MVAL vs. SPLV - Sharpe Ratio Comparison

The current MVAL Sharpe Ratio is 1.09, which is higher than the SPLV Sharpe Ratio of 0.44. The chart below compares the historical Sharpe Ratios of MVAL and SPLV, 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

MVAL vs. SPLV - Drawdown Comparison

The maximum MVAL drawdown since its inception was -19.56%, smaller than the maximum SPLV drawdown of -36.26%. Use the drawdown chart below to compare losses from any high point for MVAL and SPLV.

Drawdown Indicators

	MVAL	SPLV	Difference
Max Drawdown Largest peak-to-trough decline	-19.56%	-36.26%	+16.70%
Max Drawdown (1Y) Largest decline over 1 year	-12.16%	-7.41%	-4.75%
Max Drawdown (3Y) Largest decline over 3 years	—	-9.64%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.26%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-36.26%	—
Current Drawdown Current decline from peak	-9.27%	-3.47%	-5.80%
Average Drawdown Average peak-to-trough decline	-3.89%	-3.55%	-0.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.27%	3.20%	+2.07%

Volatility

MVAL vs. SPLV - Volatility Comparison

VanEck Morningstar Wide Moat Value ETF (MVAL) and Invesco S&P 500 Low Volatility ETF (SPLV) have volatilities of 4.17% and 4.26%, 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.

Volatility by Period

	MVAL	SPLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.17%	4.26%	-0.09%
Volatility (6M) Calculated over the trailing 6-month period	9.86%	7.38%	+2.48%
Volatility (1Y) Calculated over the trailing 1-year period	13.83%	10.28%	+3.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.39%	12.50%	+2.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.39%	15.39%	0.00%

MVAL vs. SPLV - Expense Ratio Comparison

MVAL has a 0.49% expense ratio, which is higher than SPLV's 0.25% expense ratio.

Dividends

MVAL vs. SPLV - Dividend Comparison

MVAL's dividend yield for the trailing twelve months is around 1.76%, less than SPLV's 2.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MVAL VanEck Morningstar Wide Moat Value ETF	1.76%	1.75%	0.97%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPLV Invesco S&P 500 Low Volatility ETF	2.16%	2.04%	1.88%	2.45%	2.11%	1.51%	2.12%	2.08%	2.18%	2.03%	2.03%	2.28%

Frequently Asked Questions

Can I hold both MVAL and SPLV in my portfolio?

MVAL and SPLV have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MVAL or SPLV?

SPLV has higher volatility (4.26%) compared to MVAL (4.17%). In terms of maximum drawdown, MVAL dropped -19.56% vs SPLV's -36.26%.

Which ETF is better, MVAL or SPLV?

On 1-year performance, MVAL leads with 15.04% vs 4.45% for SPLV. On fees, SPLV is cheaper at 0.25% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MVAL or SPLV?

Over the 1-year period, MVAL has performed better with a 15.04% return vs 4.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MVAL or SPLV?

SPLV is cheaper with a 0.25% expense ratio, compared with 0.49% for MVAL.

Which ETF pays a higher dividend yield, MVAL or SPLV?

SPLV has the higher dividend yield at 2.16%, compared with 1.76% for MVAL.

What is the main difference between MVAL and SPLV?

MVAL is categorized as Large Cap Value Equities, while SPLV is S&P 500. MVAL tracks Morningstar US Broad Value Wide Moat Focus Index - Benchmark TR Gross, while SPLV tracks S&P 500 Low Volatility Index. They also come from different issuers: VanEck and Invesco. Their fees differ too: 0.49% for MVAL and 0.25% for SPLV.

Which has better risk-adjusted returns?

MVAL currently has the higher Sharpe Ratio (1.09 vs 0.44), 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.