QQLV vs. SMLV
QQLV (Invesco QQQ Low Volatility ETF) and SMLV (SPDR SSGA US Small Cap Low Volatility Index ETF) are both Low Volatility funds - QQLV tracks the Nasdaq Low Volatility Index while SMLV tracks the SSGA US Small Cap Low Volatility Index. Both are passively managed. Over the past year, QQLV returned 3.51% vs 34.18% for SMLV. Their 0.59 correlation means they have sometimes moved together and sometimes differently. QQLV charges 0.25%/yr vs 0.12%/yr for SMLV.
Performance
QQLV vs. SMLV - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, QQLV achieves a 7.25% return, which is significantly lower than SMLV's 23.05% return.
QQLV
- 1D
- -0.53%
- 1M
- 1.40%
- 6M
- 5.54%
- YTD
- 7.25%
- 1Y
- 3.51%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.28%
SMLV
- 1D
- -0.02%
- 1M
- 0.72%
- 6M
- 16.25%
- YTD
- 23.05%
- 1Y
- 34.18%
- 3Y*
- 16.71%
- 5Y*
- 10.12%
- 10Y*
- 10.64%
- ALL TIME*
- 11.09%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $52.35K | $30.06K | $34.79K | |
| $451.73K | $474.34K | $539.60K |
QQLV vs. SMLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
QQLV Invesco QQQ Low Volatility ETF | 7.25% | 4.19% | -5.60% |
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF | 23.05% | 5.66% | -6.34% |
Correlation
The correlation between QQLV and SMLV is 0.54, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.54 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2024 | 0.59 |
The correlation between QQLV and SMLV has been stable across timeframes, ranging from 0.54 to 0.59 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
QQLV vs. SMLV — Risk / Return Rank
QQLV
SMLV
QQLV vs. SMLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ Low Volatility ETF (QQLV) and SPDR SSGA US Small Cap Low Volatility Index ETF (SMLV). 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.
| QQLV | SMLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.84 | ||
| Sortino ratioReturn per unit of downside risk | -2.55 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.39 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | 0.43 | 4.43 | -4.00 |
| Martin ratioReturn relative to average drawdown | 0.84 | 12.96 | -12.12 |
Loading charts...
Drawdowns
QQLV vs. SMLV - Drawdown Comparison
The maximum QQLV drawdown since its inception was -9.54%, smaller than the maximum SMLV drawdown of -42.45%. Use the drawdown chart below to compare losses from any high point for QQLV and SMLV.
Loading charts...
Drawdown Indicators
| QQLV | SMLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.54% | -42.45% | +32.91% |
Max Drawdown (1Y)Largest decline over 1 year | -7.22% | -7.34% | +0.12% |
Max Drawdown (3Y)Largest decline over 3 years | — | -20.40% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -20.40% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.45% | — |
Current DrawdownCurrent decline from peak | -2.09% | -1.22% | -0.87% |
Average DrawdownAverage peak-to-trough decline | -3.06% | -5.40% | +2.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.67% | 2.50% | +1.17% |
Volatility
QQLV vs. SMLV - Volatility Comparison
Invesco QQQ Low Volatility ETF (QQLV) has a higher volatility of 5.31% compared to SPDR SSGA US Small Cap Low Volatility Index ETF (SMLV) at 3.67%. This indicates that QQLV's price experiences larger fluctuations and is considered to be riskier than SMLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| QQLV | SMLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.31% | 3.67% | +1.64% |
Volatility (6M)Calculated over the trailing 6-month period | 9.02% | 9.58% | -0.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.17% | 15.38% | -4.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.06% | 18.21% | -5.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.06% | 20.90% | -7.84% |
QQLV vs. SMLV - Expense Ratio Comparison
QQLV has a 0.25% expense ratio, which is higher than SMLV's 0.12% 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
QQLV vs. SMLV - Dividend Comparison
QQLV's dividend yield for the trailing twelve months is around 2.02%, less than SMLV's 2.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QQLV Invesco QQQ Low Volatility ETF | 2.02% | 1.84% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF | 2.21% | 2.74% | 2.68% | 2.68% | 2.40% | 2.12% | 2.47% | 2.62% | 3.15% | 7.92% | 3.04% | 2.63% |
Frequently Asked Questions
QQLV and SMLV have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QQLV has higher volatility (5.31%) compared to SMLV (3.67%). In terms of maximum drawdown, QQLV dropped -9.54% vs SMLV's -42.45%.
On 1-year performance, SMLV leads with 34.18% vs 3.51% for QQLV. On fees, SMLV is cheaper at 0.12% per year. On volatility, SMLV has been the lower-risk option at 3.67%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SMLV has performed better with a 34.18% return vs 3.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SMLV is cheaper with a 0.12% expense ratio, compared with 0.25% for QQLV.
SMLV has the higher dividend yield at 2.21%, compared with 2.02% for QQLV.
QQLV tracks Nasdaq Low Volatility Index, while SMLV tracks SSGA US Small Cap Low Volatility Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.25% for QQLV and 0.12% for SMLV.
SMLV currently has the higher Sharpe Ratio (2.12 vs 0.28), 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.
Find the right allocation for QQLV and SMLV
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer