QVMT vs. SPYG
QVMT (Invesco S&P S&P 500 Concentrated QVM ETF) and SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) are both S&P 500 funds - QVMT tracks the S&P 500 Quality, Value & Momentum Multi-factor Index while SPYG tracks the S&P 500 Growth Index. Both are passively managed. Over the past 10 years, QVMT returned 12.93%/yr vs 17.58%/yr for SPYG. At a 0.49 correlation, their price movements are largely independent. QVMT charges 0.13%/yr vs 0.04%/yr for SPYG.
Performance
QVMT vs. SPYG - Performance Comparison
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Returns By Period
In the year-to-date period, QVMT achieves a 17.80% return, which is significantly higher than SPYG's 10.97% return. Over the past 10 years, QVMT has underperformed SPYG with an annualized return of 12.93%, while SPYG has yielded a comparatively higher 17.58% annualized return.
QVMT
- 1D
- -1.52%
- 1M
- -1.75%
- 6M
- 15.40%
- YTD
- 17.80%
- 1Y
- 29.59%
- 3Y*
- 20.71%
- 5Y*
- 12.96%
- 10Y*
- 12.93%
SPYG
- 1D
- -1.58%
- 1M
- 1.15%
- 6M
- 9.34%
- YTD
- 10.97%
- 1Y
- 23.89%
- 3Y*
- 25.06%
- 5Y*
- 13.59%
- 10Y*
- 17.58%
QVMT vs. SPYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QVMT Invesco S&P S&P 500 Concentrated QVM ETF | 17.80% | 19.08% | 14.40% | 11.71% | -5.61% | 35.27% | -9.98% | 28.86% | -9.51% | 18.77% |
SPYG State Street SPDR Portfolio S&P 500 Growth ETF | 10.97% | 22.09% | 35.99% | 30.02% | -29.41% | 32.01% | 33.46% | 30.84% | -0.12% | 27.24% |
Correlation
The correlation between QVMT and SPYG is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Oct 9, 2015 | 0.49 |
The correlation between QVMT and SPYG shifts across timeframes, from 0.37 (3 years) to 0.52 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
QVMT vs. SPYG — Risk / Return Rank
QVMT
SPYG
QVMT vs. SPYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P S&P 500 Concentrated QVM ETF (QVMT) and State Street SPDR Portfolio S&P 500 Growth ETF (SPYG). 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.
| QVMT | SPYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.70 | ||
| Sortino ratioReturn per unit of downside risk | +0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.24 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 4.75 | 1.74 | +3.01 |
| Martin ratioReturn relative to average drawdown | 15.94 | 6.69 | +9.25 |
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Drawdowns
QVMT vs. SPYG - Drawdown Comparison
The maximum QVMT drawdown since its inception was -48.05%, smaller than the maximum SPYG drawdown of -67.63%. Use the drawdown chart below to compare losses from any high point for QVMT and SPYG.
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Drawdown Indicators
| QVMT | SPYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.05% | -67.63% | +19.58% |
Max Drawdown (1Y)Largest decline over 1 year | -6.25% | -13.76% | +7.51% |
Max Drawdown (3Y)Largest decline over 3 years | -14.42% | -22.14% | +7.72% |
Max Drawdown (5Y)Largest decline over 5 years | -21.95% | -32.67% | +10.72% |
Max Drawdown (10Y)Largest decline over 10 years | -48.05% | -32.67% | -15.38% |
Current DrawdownCurrent decline from peak | -4.57% | -3.55% | -1.02% |
Average DrawdownAverage peak-to-trough decline | -6.30% | -24.24% | +17.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.87% | 3.58% | -1.71% |
Volatility
QVMT vs. SPYG - Volatility Comparison
Invesco S&P S&P 500 Concentrated QVM ETF (QVMT) has a higher volatility of 7.79% compared to State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) at 6.43%. This indicates that QVMT's price experiences larger fluctuations and is considered to be riskier than SPYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QVMT | SPYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.79% | 6.43% | +1.36% |
Volatility (6M)Calculated over the trailing 6-month period | 11.32% | 14.28% | -2.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.35% | 17.49% | -3.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.45% | 21.42% | -3.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.18% | 20.73% | +0.45% |
QVMT vs. SPYG - Expense Ratio Comparison
QVMT has a 0.13% expense ratio, which is higher than SPYG's 0.04% 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%.
Dividends
QVMT vs. SPYG - Dividend Comparison
QVMT's dividend yield for the trailing twelve months is around 1.85%, more than SPYG's 0.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QVMT Invesco S&P S&P 500 Concentrated QVM ETF | 1.85% | 2.42% | 2.71% | 3.05% | 2.49% | 2.31% | 2.70% | 2.23% | 2.48% | 2.37% | 1.11% | 0.54% |
SPYG State Street SPDR Portfolio S&P 500 Growth ETF | 0.49% | 0.52% | 0.60% | 1.15% | 1.03% | 0.62% | 0.90% | 1.37% | 1.51% | 1.41% | 1.55% | 1.57% |
Frequently Asked Questions
QVMT and SPYG have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QVMT has higher volatility (7.79%) compared to SPYG (6.43%). In terms of maximum drawdown, QVMT dropped -48.05% vs SPYG's -67.63%.
On 10-year performance, SPYG leads with 17.58% vs 12.93% for QVMT. On fees, SPYG is cheaper at 0.04% per year. On volatility, SPYG has been the lower-risk option at 6.43%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPYG has performed better with a 17.58% return vs 12.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPYG is cheaper with a 0.04% expense ratio, compared with 0.13% for QVMT.
QVMT has the higher dividend yield at 1.85%, compared with 0.49% for SPYG.
QVMT tracks S&P 500 Quality, Value & Momentum Multi-factor Index, while SPYG tracks S&P 500 Growth Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.13% for QVMT and 0.04% for SPYG.
QVMT currently has the higher Sharpe Ratio (2.08 vs 1.38), 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.
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