QVMS vs. ADDS

Last updated Aug 4, 2026

QVMS (Invesco S&P SmallCap 600 QVM Multi-factor ETF) and ADDS (Hedgeye Index Adds ETF) are both Multi-factor funds. QVMS is passively managed, while ADDS is actively managed. Their 0.53 correlation means they have sometimes moved together and sometimes differently. QVMS charges 0.15%/yr vs 0.70%/yr for ADDS.

Performance

QVMS vs. ADDS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap 600 QVM Multi-factor ETF (QVMS) and Hedgeye Index Adds ETF (ADDS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

QVMS

• 1D: 1.66%
• 1M: 0.84%
• 6M: 16.16%
• YTD: 24.00%
• 1Y: 37.75%
• 3Y*: 15.04%
• 5Y*: 9.14%
• 10Y*: —
• ALL TIME*: 8.28%

ADDS

• 1D: 0.50%
• 1M: -4.85%
• 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)
ADDS Hedgeye Index Adds ETF	$132.11K	$245.64K	$395.52K
QVMS Invesco S&P SmallCap 600 QVM Multi-factor ETF	$15.20K	$71.85K	$64.18K

QVMS vs. ADDS - Yearly Performance Comparison

	2026 (YTD)
QVMS Invesco S&P SmallCap 600 QVM Multi-factor ETF	6.20%
ADDS Hedgeye Index Adds ETF	-1.88%

Correlation

The correlation between QVMS and ADDS is 0.53, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 28, 2026	0.53

Return for Risk

QVMS vs. ADDS — Risk / Return Rank

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

QVMS

QVMS Risk / Return Rank: 88
QVMS Sharpe Ratio Rank: 87
QVMS Sortino Ratio Rank: 89
QVMS Omega Ratio Rank: 83
QVMS Calmar Ratio Rank: 92
QVMS Martin Ratio Rank: 90

ADDS

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.

QVMS vs. ADDS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap 600 QVM Multi-factor ETF (QVMS) and Hedgeye Index Adds ETF (ADDS). 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.

	QVMS	ADDS	Difference
Sharpe ratio: Return per unit of total volatility	2.16	—	—
Sortino ratio: Return per unit of downside risk	3.17	—	—
Omega ratio: Gain probability vs. loss probability	1.37	—	—
Calmar ratio: Return relative to maximum drawdown	4.32	—	—
Martin ratio: Return relative to average drawdown	14.61	—	—

Drawdowns

QVMS vs. ADDS - Drawdown Comparison

The maximum QVMS drawdown since its inception was -28.05%, which is greater than ADDS's maximum drawdown of -14.83%. Use the drawdown chart below to compare losses from any high point for QVMS and ADDS.

Drawdown Indicators

	QVMS	ADDS	Difference
Max Drawdown Largest peak-to-trough decline	-28.05%	-14.83%	-13.22%
Max Drawdown (1Y) Largest decline over 1 year	-8.78%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-28.05%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-28.05%	—	—
Current Drawdown Current decline from peak	-0.80%	-11.12%	+10.32%
Average Drawdown Average peak-to-trough decline	-8.85%	-6.30%	-2.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.59%	—	—

Volatility

Volatility by Period

	QVMS	ADDS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.96%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.15%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	17.58%	38.86%	-21.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.08%	38.86%	-17.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.09%	38.86%	-17.77%

QVMS vs. ADDS - Expense Ratio Comparison

QVMS has a 0.15% expense ratio, which is lower than ADDS's 0.70% expense ratio.

Dividends

QVMS vs. ADDS - Dividend Comparison

QVMS's dividend yield for the trailing twelve months is around 1.13%, while ADDS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
ADDS Hedgeye Index Adds ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QVMS Invesco S&P SmallCap 600 QVM Multi-factor ETF	1.13%	1.10%	1.53%	1.51%	1.58%	0.64%

Frequently Asked Questions

Can I hold both QVMS and ADDS in my portfolio?

QVMS and ADDS have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QVMS or ADDS?

On fees, QVMS is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QVMS or ADDS?

QVMS is cheaper with a 0.15% expense ratio, compared with 0.70% for ADDS.

Which ETF pays a higher dividend yield, QVMS or ADDS?

QVMS has the higher dividend yield at 1.13%, compared with 0.00% for ADDS.

What is the main difference between QVMS and ADDS?

They also come from different issuers: Invesco and Hedgeye. Their fees differ too: 0.15% for QVMS and 0.70% for ADDS.