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PSRF.L vs. SPMV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PSRF.L vs. SPMV

Last updated Jun 4, 2026

PSRF.L (Invesco FTSE RAFI US 1000 UCITS ETF) and SPMV (Invesco S&P 500 Minimum Variance ETF) are both exchange-traded funds - PSRF.L is a Large Cap Value Equities fund tracking the Russell 1000 Value TR USD, while SPMV is a S&P 500 fund tracking the S&P 500 Minimum Volatility Index. Both are passively managed. At a 0.46 correlation, their price movements are largely independent. PSRF.L charges 0.39%/yr vs 0.10%/yr for SPMV.

Performance

PSRF.L vs. SPMV - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco FTSE RAFI US 1000 UCITS ETF (PSRF.L) and Invesco S&P 500 Minimum Variance ETF (SPMV). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

PSRF.L is traded in GBp, while SPMV is traded in USD. To make them comparable, the SPMV values have been converted to GBp using the latest available exchange rates.

Returns By Period

PSRF.L

1D
0.37%
1M
5.05%
YTD
15.01%
6M
15.37%
1Y
33.26%
3Y*
17.75%
5Y*
13.10%
10Y*
14.09%

SPMV

1D
—
1M
—
YTD
—
6M
—
1Y
—
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

PSRF.L vs. SPMV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PSRF.L
Invesco FTSE RAFI US 1000 UCITS ETF		15.01%8.58%18.11%9.53%2.89%32.90%3.20%22.49%-4.27%5.64%
SPMV
Invesco S&P 500 Minimum Variance ETF		0.24%3.74%20.86%4.76%-0.24%25.52%5.38%27.10%-0.72%2.15%

Correlation

The correlation between PSRF.L and SPMV is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.37

Correlation (3Y)
Calculated over the trailing 3-year period

0.44

Correlation (5Y)
Calculated over the trailing 5-year period

0.43

Correlation (All Time)
Calculated using the full available price history since Aug 25, 2017

0.46

PSRF.L vs. SPMV - Sectors Allocation Comparison

Sectors
PSRF.L
SPMV

Technology

21.4%
26.9%

Financial Services

15.5%
17.8%

Healthcare

12.1%
15.0%

Communication Services

10.9%
6.5%

Energy

8.7%
4.8%

Consumer Cyclical

8.4%
6.6%

Industrials

8.1%
6.0%

Consumer Defensive

6.5%
10.7%

Basic Materials

3.4%
2.6%

Utilities

3.2%
2.8%

Real Estate

1.8%
0.2%

Technology

PSRF.L
21.4%
SPMV
26.9%

Financial Services

PSRF.L
15.5%
SPMV
17.8%

Healthcare

PSRF.L
12.1%
SPMV
15.0%

Communication Services

PSRF.L
10.9%
SPMV
6.5%

Energy

PSRF.L
8.7%
SPMV
4.8%

Consumer Cyclical

PSRF.L
8.4%
SPMV
6.6%

Industrials

PSRF.L
8.1%
SPMV
6.0%

Consumer Defensive

PSRF.L
6.5%
SPMV
10.7%

Basic Materials

PSRF.L
3.4%
SPMV
2.6%

Utilities

PSRF.L
3.2%
SPMV
2.8%

Real Estate

PSRF.L
1.8%
SPMV
0.2%

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Invesco FTSE RAFI US 1000 UCITS ETF

Invesco S&P 500 Minimum Variance ETF

Often compared with PSRF.L:
PSRF.L vs. PSRE.LPSRF.L vs. SPES.LPSRF.L vs. HTWN.LPSRF.L vs. XLKPSRF.L vs. HMWO.LPSRF.L vs. WLDS.LPSRF.L vs. XLKQ.L
Often compared with SPMV:
SPMV vs. USMVSPMV vs. SPLVSPMV vs. SPYSPMV vs. MVOL.LSPMV vs. QQQSPMV vs. FDVVSPMV vs. MGV

Return for Risk

PSRF.L vs. SPMV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PSRF.L
PSRF.L Risk / Return Rank: 9494
Overall Rank
PSRF.L Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
PSRF.L Sortino Ratio Rank: 9494
Sortino Ratio Rank
PSRF.L Omega Ratio Rank: 9393
Omega Ratio Rank
PSRF.L Calmar Ratio Rank: 9494
Calmar Ratio Rank
PSRF.L Martin Ratio Rank: 9494
Martin Ratio Rank
SPMV
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.

PSRF.L vs. SPMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco FTSE RAFI US 1000 UCITS ETF (PSRF.L) 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.

PSRF.LSPMVDifference
Sharpe ratioReturn per unit of total volatility
3.54

—

—

Sortino ratioReturn per unit of downside risk
4.81

—

—

Omega ratioGain probability vs. loss probability

1.66

—

—

Calmar ratioReturn relative to maximum drawdown

7.20

—

—

Martin ratioReturn relative to average drawdown

26.49

—

—

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PSRF.L vs. SPMV - Sharpe Ratio Comparison

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Sharpe Ratios by Period

PSRF.LSPMVDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.54

—

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.99

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.90

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.82

—

—

Drawdowns

PSRF.L vs. SPMV - Drawdown Comparison

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Drawdown Indicators

PSRF.LSPMVDifference

Max Drawdown

Largest peak-to-trough decline

-38.37%

—

—

Max Drawdown (1Y)

Largest decline over 1 year

-4.60%

—

—

Max Drawdown (3Y)

Largest decline over 3 years

-18.14%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-18.14%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-29.79%

—

—

Current Drawdown

Current decline from peak

0.00%

—

—

Average Drawdown

Average peak-to-trough decline

-4.15%

—

—

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.25%

—

—

Volatility

PSRF.L vs. SPMV - Volatility Comparison

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Volatility by Period

PSRF.LSPMVDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.14%

—

—

Volatility (6M)

Calculated over the trailing 6-month period

6.28%

—

—

Volatility (1Y)

Calculated over the trailing 1-year period

9.41%

—

—

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.32%

—

—

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.79%

—

—

PSRF.L vs. SPMV - Expense Ratio Comparison

PSRF.L has a 0.39% expense ratio, which is higher than SPMV's 0.10% expense ratio.

Dividends

PSRF.L vs. SPMV - Dividend Comparison

PSRF.L's dividend yield for the trailing twelve months is around 1.20%, less than SPMV's 1.45% yield.

PositionTTM20252024202320222021202020192018201720162015
PSRF.L
Invesco FTSE RAFI US 1000 UCITS ETF		1.20%1.37%1.46%1.59%1.70%1.29%1.78%1.67%1.78%1.60%1.51%1.64%
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

PSRF.L and SPMV have a correlation of 0.37, 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 0.39% for PSRF.L.

PSRF.L is categorized as Large Cap Value Equities, while SPMV is S&P 500. PSRF.L tracks Russell 1000 Value TR USD, while SPMV tracks S&P 500 Minimum Volatility Index. Their fees differ too: 0.39% for PSRF.L and 0.10% for SPMV.

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