QVMS vs. MFEM
Compare and contrast key facts about Invesco S&P SmallCap 600 QVM Multi-factor ETF (QVMS) and PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (MFEM).
QVMS and MFEM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QVMS is a passively managed fund by Invesco that tracks the performance of the S&P Small Cap 600. It was launched on Jun 30, 2021. MFEM is a passively managed fund by PIMCO that tracks the performance of the RAFI Dynamic Multi-Factor Emerging Market Index. It was launched on Aug 31, 2017. Both QVMS and MFEM 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
QVMS vs. MFEM - Performance Comparison
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QVMS vs. MFEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
QVMS Invesco S&P SmallCap 600 QVM Multi-factor ETF | 4.33% | 5.56% | 9.50% | 16.89% | -14.61% | 4.45% |
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF | 8.85% | 25.33% | 4.73% | 15.14% | -19.50% | -3.09% |
Returns By Period
In the year-to-date period, QVMS achieves a 4.33% return, which is significantly lower than MFEM's 8.85% return.
QVMS
- 1D
- 0.71%
- 1M
- -4.30%
- YTD
- 4.33%
- 6M
- 5.31%
- 1Y
- 20.53%
- 3Y*
- 11.22%
- 5Y*
- —
- 10Y*
- —
MFEM
- 1D
- 0.60%
- 1M
- -8.10%
- YTD
- 8.85%
- 6M
- 12.85%
- 1Y
- 35.46%
- 3Y*
- 16.40%
- 5Y*
- 6.50%
- 10Y*
- —
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QVMS vs. MFEM - Expense Ratio Comparison
QVMS has a 0.15% expense ratio, which is lower than MFEM's 0.49% expense ratio.
Return for Risk
QVMS vs. MFEM — Risk / Return Rank
QVMS
MFEM
QVMS vs. MFEM - 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 PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (MFEM). 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.
| QVMS | MFEM | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.91 | 1.90 | -1.00 |
Sortino ratioReturn per unit of downside risk | 1.41 | 2.48 | -1.07 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.37 | -0.18 |
Calmar ratioReturn relative to maximum drawdown | 1.40 | 2.80 | -1.40 |
Martin ratioReturn relative to average drawdown | 5.63 | 10.54 | -4.92 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| QVMS | MFEM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 1.90 | -1.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.41 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.33 | -0.10 |
Correlation
The correlation between QVMS and MFEM is 0.57, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
QVMS vs. MFEM - Dividend Comparison
QVMS's dividend yield for the trailing twelve months is around 1.26%, less than MFEM's 2.56% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QVMS Invesco S&P SmallCap 600 QVM Multi-factor ETF | 1.26% | 1.10% | 1.53% | 1.51% | 1.58% | 0.64% | 0.00% | 0.00% | 0.00% | 0.00% |
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF | 2.56% | 2.77% | 5.89% | 4.01% | 7.01% | 29.96% | 1.70% | 2.37% | 1.18% | 0.21% |
Drawdowns
QVMS vs. MFEM - Drawdown Comparison
The maximum QVMS drawdown since its inception was -28.05%, smaller than the maximum MFEM drawdown of -43.32%. Use the drawdown chart below to compare losses from any high point for QVMS and MFEM.
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Drawdown Indicators
| QVMS | MFEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.05% | -43.32% | +15.27% |
Max Drawdown (1Y)Largest decline over 1 year | -14.86% | -12.86% | -2.00% |
Max Drawdown (5Y)Largest decline over 5 years | — | -31.39% | — |
Current DrawdownCurrent decline from peak | -5.27% | -9.77% | +4.50% |
Average DrawdownAverage peak-to-trough decline | -9.39% | -11.67% | +2.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.69% | 3.42% | +0.27% |
Volatility
QVMS vs. MFEM - Volatility Comparison
The current volatility for Invesco S&P SmallCap 600 QVM Multi-factor ETF (QVMS) is 6.27%, while PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (MFEM) has a volatility of 8.92%. This indicates that QVMS experiences smaller price fluctuations and is considered to be less risky than MFEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QVMS | MFEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.27% | 8.92% | -2.65% |
Volatility (6M)Calculated over the trailing 6-month period | 13.02% | 14.45% | -1.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.75% | 18.72% | +4.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.41% | 16.12% | +5.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.41% | 19.22% | +2.19% |