QVML vs. QWLD

Last updated Jun 24, 2026

QVML (Invesco S&P 500 QVM Multi-factor ETF) and QWLD (SPDR MSCI World StrategicFactors ETF) are both exchange-traded funds - QVML is a Multi-factor fund tracking the S&P 500 Quality, Value &Momentum Top 90% Multi-Factor Index - Benchmark TR Gross, while QWLD is a Large Cap Growth Equities fund tracking the MSCI World Factor Mix A-Series (USD). Both are passively managed. Over the past 3 years, QVML returned 21.14%/yr vs 15.71%/yr for QWLD. Their correlation of 0.92 suggests significant overlap in exposure. QVML charges 0.11%/yr vs 0.30%/yr for QWLD.

Performance

QVML vs. QWLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 QVM Multi-factor ETF (QVML) and SPDR MSCI World StrategicFactors ETF (QWLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QVML achieves a 8.76% return, which is significantly higher than QWLD's 5.45% return.

QVML

• 1D: -1.35%
• 1M: -1.10%
• YTD: 8.76%
• 6M: 7.73%
• 1Y: 24.15%
• 3Y*: 21.14%
• 5Y*: —
• 10Y*: —

QWLD

• 1D: -0.53%
• 1M: -1.39%
• YTD: 5.45%
• 6M: 5.01%
• 1Y: 15.86%
• 3Y*: 15.71%
• 5Y*: 9.75%
• 10Y*: 11.74%

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

QVML vs. QWLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
QVML Invesco S&P 500 QVM Multi-factor ETF	8.76%	17.74%	25.87%	22.19%	-16.25%	12.72%
QWLD SPDR MSCI World StrategicFactors ETF	5.45%	17.93%	14.44%	19.59%	-13.30%	7.43%

Correlation

The correlation between QVML and QWLD is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (All Time) Calculated using the full available price history since Jun 30, 2021	0.92

The correlation between QVML and QWLD has been stable across timeframes, ranging from 0.86 to 0.92 - a consistent structural relationship.

QVML vs. QWLD - Sectors Allocation Comparison

Sectors	QVML	QWLD
Technology	39.1%	25.9%
Financial Services	12.0%	14.5%
Communication Services	11.3%	9.2%
Healthcare	8.5%	12.7%
Industrials	8.2%	8.1%
Consumer Cyclical	7.0%	5.1%
Consumer Defensive	5.1%	7.4%
Energy	3.2%	3.3%
Utilities	2.2%	3.8%
Basic Materials	1.8%	2.2%
Real Estate	1.5%	0.5%

Return for Risk

QVML vs. QWLD — Risk / Return Rank

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

QVML

QVML Risk / Return Rank: 64
QVML Sharpe Ratio Rank: 64
QVML Sortino Ratio Rank: 63
QVML Omega Ratio Rank: 62
QVML Calmar Ratio Rank: 59
QVML Martin Ratio Rank: 71

QWLD

QWLD Risk / Return Rank: 49
QWLD Sharpe Ratio Rank: 50
QWLD Sortino Ratio Rank: 50
QWLD Omega Ratio Rank: 47
QWLD Calmar Ratio Rank: 44
QWLD Martin Ratio Rank: 54

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.

QVML vs. QWLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 QVM Multi-factor ETF (QVML) and SPDR MSCI World StrategicFactors ETF (QWLD). 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.

	QVML	QWLD	Difference
Sharpe ratio: Return per unit of total volatility	1.99	1.62	+0.37
Sortino ratio: Return per unit of downside risk	2.75	2.33	+0.42
Omega ratio: Gain probability vs. loss probability	1.36	1.29	+0.07
Calmar ratio: Return relative to maximum drawdown	2.78	2.08	+0.70
Martin ratio: Return relative to average drawdown	12.59	8.96	+3.63

QVML vs. QWLD - Sharpe Ratio Comparison

The current QVML Sharpe Ratio is 1.99, which is comparable to the QWLD Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of QVML and QWLD, 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

QVML vs. QWLD - Drawdown Comparison

The maximum QVML drawdown since its inception was -23.52%, smaller than the maximum QWLD drawdown of -31.89%. Use the drawdown chart below to compare losses from any high point for QVML and QWLD.

Drawdown Indicators

	QVML	QWLD	Difference
Max Drawdown Largest peak-to-trough decline	-23.52%	-31.89%	+8.37%
Max Drawdown (1Y) Largest decline over 1 year	-8.73%	-7.66%	-1.07%
Max Drawdown (3Y) Largest decline over 3 years	-18.71%	-12.40%	-6.31%
Max Drawdown (5Y) Largest decline over 5 years	—	-22.84%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-31.89%	—
Current Drawdown Current decline from peak	-2.73%	-1.77%	-0.96%
Average Drawdown Average peak-to-trough decline	-5.36%	-3.69%	-1.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	1.77%	+0.15%

Volatility

QVML vs. QWLD - Volatility Comparison

Invesco S&P 500 QVM Multi-factor ETF (QVML) has a higher volatility of 4.54% compared to SPDR MSCI World StrategicFactors ETF (QWLD) at 2.82%. This indicates that QVML's price experiences larger fluctuations and is considered to be riskier than QWLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QVML	QWLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.54%	2.82%	+1.72%
Volatility (6M) Calculated over the trailing 6-month period	9.80%	7.82%	+1.98%
Volatility (1Y) Calculated over the trailing 1-year period	12.19%	9.84%	+2.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.61%	13.54%	+3.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.61%	15.18%	+1.43%

QVML vs. QWLD - Expense Ratio Comparison

QVML has a 0.11% expense ratio, which is lower than QWLD's 0.30% expense ratio.

Dividends

QVML vs. QWLD - Dividend Comparison

QVML's dividend yield for the trailing twelve months is around 1.03%, less than QWLD's 1.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QVML Invesco S&P 500 QVM Multi-factor ETF	1.03%	1.10%	1.15%	1.43%	1.72%	0.62%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QWLD SPDR MSCI World StrategicFactors ETF	1.85%	1.85%	1.74%	1.78%	2.02%	1.77%	1.77%	2.13%	2.33%	2.73%	2.22%	3.42%

Frequently Asked Questions

Can I hold both QVML and QWLD in my portfolio?

QVML and QWLD have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QVML or QWLD?

QVML has higher volatility (4.54%) compared to QWLD (2.82%). In terms of maximum drawdown, QVML dropped -23.52% vs QWLD's -31.89%.

Which ETF is better, QVML or QWLD?

On 3-year performance, QVML leads with 21.14% vs 15.71% for QWLD. On fees, QVML is cheaper at 0.11% per year. On volatility, QWLD has been the lower-risk option at 2.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QVML or QWLD?

Over the 3-year period, QVML has performed better with a 21.14% return vs 15.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QVML or QWLD?

QVML is cheaper with a 0.11% expense ratio, compared with 0.30% for QWLD.

Which ETF pays a higher dividend yield, QVML or QWLD?

QWLD has the higher dividend yield at 1.85%, compared with 1.03% for QVML.

What is the main difference between QVML and QWLD?

QVML is categorized as Multi-factor, while QWLD is Large Cap Growth Equities. QVML tracks S&P 500 Quality, Value &Momentum Top 90% Multi-Factor Index - Benchmark TR Gross, while QWLD tracks MSCI World Factor Mix A-Series (USD). They also come from different issuers: Invesco and State Street. Their fees differ too: 0.11% for QVML and 0.30% for QWLD.

Which has better risk-adjusted returns?

QVML currently has the higher Sharpe Ratio (1.99 vs 1.62), 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.