QVMM vs. SPMD
Compare and contrast key facts about Invesco S&P MidCap 400 QVM Multi-factor ETF (QVMM) and SPDR Portfolio S&P 400 Mid Cap ETF (SPMD).
QVMM and SPMD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QVMM is a passively managed fund by Invesco that tracks the performance of the S&P MidCap 400 Quality, Value & Momentum Top 90% Multi-Factor Index - Benchmark TR Gross. It was launched on Jun 30, 2021. SPMD is a passively managed fund by State Street that tracks the performance of the S&P MidCap 400 Index. It was launched on Nov 8, 2005. Both QVMM and SPMD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
QVMM vs. SPMD - Performance Comparison
Loading graphics...
QVMM vs. SPMD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
QVMM Invesco S&P MidCap 400 QVM Multi-factor ETF | 3.32% | 8.82% | 13.36% | 15.43% | -13.06% | 6.04% |
SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 2.59% | 7.44% | 13.91% | 16.48% | -13.13% | 6.10% |
Returns By Period
In the year-to-date period, QVMM achieves a 3.32% return, which is significantly higher than SPMD's 2.59% return.
QVMM
- 1D
- 2.76%
- 1M
- -4.92%
- YTD
- 3.32%
- 6M
- 5.26%
- 1Y
- 18.80%
- 3Y*
- 12.60%
- 5Y*
- —
- 10Y*
- —
SPMD
- 1D
- 2.99%
- 1M
- -5.29%
- YTD
- 2.59%
- 6M
- 4.27%
- 1Y
- 17.37%
- 3Y*
- 12.11%
- 5Y*
- 6.60%
- 10Y*
- 10.73%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
QVMM vs. SPMD - Expense Ratio Comparison
QVMM has a 0.15% expense ratio, which is higher than SPMD's 0.05% 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%.
Return for Risk
QVMM vs. SPMD — Risk / Return Rank
QVMM
SPMD
QVMM vs. SPMD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P MidCap 400 QVM Multi-factor ETF (QVMM) and SPDR Portfolio S&P 400 Mid Cap ETF (SPMD). 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.
| QVMM | SPMD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.91 | 0.83 | +0.08 |
Sortino ratioReturn per unit of downside risk | 1.40 | 1.30 | +0.10 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.18 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.35 | 1.25 | +0.10 |
Martin ratioReturn relative to average drawdown | 6.02 | 5.41 | +0.61 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| QVMM | SPMD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 0.83 | +0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.34 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.51 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.43 | -0.09 |
Correlation
The correlation between QVMM and SPMD is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
QVMM vs. SPMD - Dividend Comparison
QVMM's dividend yield for the trailing twelve months is around 1.29%, less than SPMD's 1.37% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QVMM Invesco S&P MidCap 400 QVM Multi-factor ETF | 1.29% | 1.32% | 1.29% | 1.42% | 1.51% | 0.60% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 1.37% | 1.39% | 1.42% | 1.47% | 1.64% | 1.24% | 1.30% | 1.57% | 1.85% | 1.97% | 2.13% | 5.33% |
Drawdowns
QVMM vs. SPMD - Drawdown Comparison
The maximum QVMM drawdown since its inception was -24.00%, smaller than the maximum SPMD drawdown of -57.62%. Use the drawdown chart below to compare losses from any high point for QVMM and SPMD.
Loading graphics...
Drawdown Indicators
| QVMM | SPMD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.00% | -57.62% | +33.62% |
Max Drawdown (1Y)Largest decline over 1 year | -14.17% | -14.12% | -0.05% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.08% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.86% | — |
Current DrawdownCurrent decline from peak | -5.77% | -6.13% | +0.36% |
Average DrawdownAverage peak-to-trough decline | -7.29% | -8.18% | +0.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.17% | 3.27% | -0.10% |
Volatility
QVMM vs. SPMD - Volatility Comparison
Invesco S&P MidCap 400 QVM Multi-factor ETF (QVMM) and SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) have volatilities of 6.32% and 6.56%, 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.
Loading graphics...
Volatility by Period
| QVMM | SPMD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.32% | 6.56% | -0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 11.56% | 11.95% | -0.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.79% | 21.11% | -0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.61% | 19.71% | -0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.61% | 21.18% | -1.57% |