QVMS vs. PSC

Last updated Jun 24, 2026

QVMS (Invesco S&P SmallCap 600 QVM Multi-factor ETF) and PSC (Principal U.S. Small Cap Multi-Factor ETF) are both exchange-traded funds - QVMS is a Multi-factor fund tracking the S&P Small Cap 600, while PSC is a Small Cap Blend Equities fund tracking the Nasdaq US Small Cap Select Leaders TR Index. Both are passively managed. Over the past 3 years, QVMS returned 16.78%/yr vs 19.46%/yr for PSC. With a 0.96 correlation, they move nearly in lockstep. QVMS charges 0.15%/yr vs 0.38%/yr for PSC.

Performance

QVMS vs. PSC - 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 Principal U.S. Small Cap Multi-Factor ETF (PSC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QVMS achieves a 20.25% return, which is significantly higher than PSC's 17.73% return.

QVMS

• 1D: -0.43%
• 1M: 4.69%
• YTD: 20.25%
• 6M: 17.76%
• 1Y: 35.14%
• 3Y*: 16.78%
• 5Y*: —
• 10Y*: —

PSC

• 1D: -0.58%
• 1M: 5.16%
• YTD: 17.73%
• 6M: 15.20%
• 1Y: 31.66%
• 3Y*: 19.46%
• 5Y*: 8.77%
• 10Y*: —

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

QVMS vs. PSC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
QVMS Invesco S&P SmallCap 600 QVM Multi-factor ETF	20.25%	5.56%	9.50%	16.89%	-14.61%	4.82%
PSC Principal U.S. Small Cap Multi-Factor ETF	17.73%	13.41%	12.38%	18.51%	-15.91%	2.34%

Correlation

The correlation between QVMS and PSC is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jun 30, 2021	0.96

The correlation between QVMS and PSC has been stable across timeframes, ranging from 0.91 to 0.96 - a consistent structural relationship.

QVMS vs. PSC - Sectors Allocation Comparison

Sectors	QVMS	PSC
Financial Services	18.0%	17.2%
Technology	16.7%	20.3%
Industrials	16.3%	16.9%
Consumer Cyclical	13.4%	8.2%
Healthcare	11.1%	15.8%
Real Estate	7.1%	4.5%
Energy	5.6%	5.6%
Basic Materials	5.0%	4.2%
Consumer Defensive	2.8%	2.2%
Utilities	2.1%	2.7%
Communication Services	1.9%	2.3%

Return for Risk

QVMS vs. PSC — Risk / Return Rank

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

QVMS

QVMS Risk / Return Rank: 70
QVMS Sharpe Ratio Rank: 65
QVMS Sortino Ratio Rank: 68
QVMS Omega Ratio Rank: 59
QVMS Calmar Ratio Rank: 81
QVMS Martin Ratio Rank: 76

PSC

PSC Risk / Return Rank: 57
PSC Sharpe Ratio Rank: 52
PSC Sortino Ratio Rank: 53
PSC Omega Ratio Rank: 47
PSC Calmar Ratio Rank: 68
PSC Martin Ratio Rank: 65

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.

QVMS vs. PSC - 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 Principal U.S. Small Cap Multi-Factor ETF (PSC). 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	PSC	Difference
Sharpe ratio: Return per unit of total volatility	1.98	1.68	+0.30
Sortino ratio: Return per unit of downside risk	2.90	2.40	+0.50
Omega ratio: Gain probability vs. loss probability	1.34	1.29	+0.05
Calmar ratio: Return relative to maximum drawdown	4.02	3.20	+0.82
Martin ratio: Return relative to average drawdown	13.65	11.15	+2.49

QVMS vs. PSC - Sharpe Ratio Comparison

The current QVMS Sharpe Ratio is 1.98, which is comparable to the PSC Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of QVMS and PSC, 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

QVMS vs. PSC - Drawdown Comparison

The maximum QVMS drawdown since its inception was -28.05%, smaller than the maximum PSC drawdown of -46.69%. Use the drawdown chart below to compare losses from any high point for QVMS and PSC.

Drawdown Indicators

	QVMS	PSC	Difference
Max Drawdown Largest peak-to-trough decline	-28.05%	-46.69%	+18.64%
Max Drawdown (1Y) Largest decline over 1 year	-8.78%	-9.95%	+1.17%
Max Drawdown (3Y) Largest decline over 3 years	-28.05%	-23.49%	-4.56%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.86%	—
Current Drawdown Current decline from peak	-0.43%	-0.58%	+0.15%
Average Drawdown Average peak-to-trough decline	-9.01%	-8.23%	-0.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.58%	2.85%	-0.27%

Volatility

QVMS vs. PSC - Volatility Comparison

The current volatility for Invesco S&P SmallCap 600 QVM Multi-factor ETF (QVMS) is 5.07%, while Principal U.S. Small Cap Multi-Factor ETF (PSC) has a volatility of 5.38%. This indicates that QVMS experiences smaller price fluctuations and is considered to be less risky than PSC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QVMS	PSC	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.07%	5.38%	-0.31%
Volatility (6M) Calculated over the trailing 6-month period	12.45%	13.32%	-0.87%
Volatility (1Y) Calculated over the trailing 1-year period	17.83%	18.96%	-1.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.23%	21.02%	+0.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.23%	23.28%	-2.05%

QVMS vs. PSC - Expense Ratio Comparison

QVMS has a 0.15% expense ratio, which is lower than PSC's 0.38% expense ratio.

Dividends

QVMS vs. PSC - Dividend Comparison

QVMS's dividend yield for the trailing twelve months is around 1.17%, more than PSC's 0.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
PSC Principal U.S. Small Cap Multi-Factor ETF	0.57%	0.67%	0.75%	0.73%	1.92%	1.45%	1.25%	1.47%	1.30%	0.95%	0.35%
QVMS Invesco S&P SmallCap 600 QVM Multi-factor ETF	1.17%	1.10%	1.53%	1.51%	1.58%	0.64%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QVMS and PSC in my portfolio?

With a correlation of 0.91, QVMS and PSC move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, QVMS or PSC?

PSC has higher volatility (5.38%) compared to QVMS (5.07%). In terms of maximum drawdown, QVMS dropped -28.05% vs PSC's -46.69%.

Which ETF is better, QVMS or PSC?

On 3-year performance, PSC leads with 19.46% vs 16.78% for QVMS. On fees, QVMS is cheaper at 0.15% per year. On volatility, QVMS has been the lower-risk option at 5.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QVMS or PSC?

Over the 3-year period, PSC has performed better with a 19.46% return vs 16.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QVMS or PSC?

QVMS is cheaper with a 0.15% expense ratio, compared with 0.38% for PSC.

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

QVMS has the higher dividend yield at 1.17%, compared with 0.57% for PSC.

What is the main difference between QVMS and PSC?

QVMS is categorized as Multi-factor, while PSC is Small Cap Blend Equities. QVMS tracks S&P Small Cap 600, while PSC tracks Nasdaq US Small Cap Select Leaders TR Index. They also come from different issuers: Invesco and Principal. Their fees differ too: 0.15% for QVMS and 0.38% for PSC.

Which has better risk-adjusted returns?

QVMS currently has the higher Sharpe Ratio (1.98 vs 1.68), 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.