QQLV vs. SPMV

Last updated Aug 1, 2026

QQLV (Invesco QQQ Low Volatility ETF) and SPMV (Invesco S&P 500 Minimum Variance ETF) are both exchange-traded funds - QQLV is a Low Volatility fund tracking the Nasdaq Low Volatility Index, while SPMV is a S&P 500 fund tracking the S&P 500 Minimum Volatility Index. Both are passively managed. Their 0.60 correlation means they have sometimes moved together and sometimes differently. QQLV charges 0.25%/yr vs 0.10%/yr for SPMV.

Performance

QQLV vs. SPMV - Performance Comparison

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

Returns By Period

QQLV

• 1D: -0.53%
• 1M: 1.40%
• 6M: 5.54%
• YTD: 7.25%
• 1Y: 3.51%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.28%

SPMV

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

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
QQLV Invesco QQQ Low Volatility ETF	$52.35K	$30.06K	$34.79K

QQLV vs. SPMV - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QQLV Invesco QQQ Low Volatility ETF	7.25%	4.19%	-5.60%
SPMV Invesco S&P 500 Minimum Variance ETF	0.87%	11.69%	-3.88%

Correlation

The correlation between QQLV and SPMV is 0.40, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.40
Correlation (All Time) Calculated using the full available price history since Dec 4, 2024	0.60

Over the past year, the correlation between QQLV and SPMV has dropped to 0.40 - well below their long-term average of 0.60, suggesting their price drivers have been diverging.

Return for Risk

QQLV vs. SPMV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

QQLV

QQLV Risk / Return Rank: 17
QQLV Sharpe Ratio Rank: 17
QQLV Sortino Ratio Rank: 16
QQLV Omega Ratio Rank: 16
QQLV Calmar Ratio Rank: 18
QQLV Martin Ratio Rank: 17

SPMV

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

QQLV vs. SPMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ Low Volatility ETF (QQLV) 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.

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	SPMV	Difference
Sharpe ratio: Return per unit of total volatility	0.28	—	—
Sortino ratio: Return per unit of downside risk	0.49	—	—
Omega ratio: Gain probability vs. loss probability	1.06	—	—
Calmar ratio: Return relative to maximum drawdown	0.43	—	—
Martin ratio: Return relative to average drawdown	0.84	—	—

Drawdowns

Drawdown Indicators

	QQLV	SPMV	Difference
Max Drawdown Largest peak-to-trough decline	-9.54%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-7.22%	—	—
Current Drawdown Current decline from peak	-2.09%	—	—
Average Drawdown Average peak-to-trough decline	-3.06%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	3.67%	—	—

Volatility

Volatility by Period

	QQLV	SPMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.31%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.02%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	11.17%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.06%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.06%	—	—

QQLV vs. SPMV - Expense Ratio Comparison

QQLV has a 0.25% 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

QQLV vs. SPMV - Dividend Comparison

QQLV's dividend yield for the trailing twelve months is around 2.02%, while SPMV has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
SPMV Invesco S&P 500 Minimum Variance ETF	1.05%	1.53%	1.53%	2.28%	1.79%	1.28%	1.71%	3.13%	2.11%	1.72%

Frequently Asked Questions

Can I hold both QQLV and SPMV in my portfolio?

QQLV and SPMV have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QQLV 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, QQLV or SPMV?

SPMV is cheaper with a 0.10% expense ratio, compared with 0.25% for QQLV.

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

QQLV has the higher dividend yield at 2.02%, compared with 1.05% for SPMV.

What is the main difference between QQLV and SPMV?

QQLV is categorized as Low Volatility, while SPMV is S&P 500. QQLV tracks Nasdaq Low Volatility Index, while SPMV tracks S&P 500 Minimum Volatility Index. Their fees differ too: 0.25% for QQLV and 0.10% for SPMV.