QVMT vs. SPYM
QVMT (Invesco S&P S&P 500 Concentrated QVM ETF) and SPYM (State Street SPDR Portfolio S&P 500 ETF) are both S&P 500 funds - QVMT tracks the S&P 500 Quality, Value & Momentum Multi-factor Index while SPYM tracks the S&P 500 Index. Both are passively managed. Over the past 10 years, QVMT returned 12.93%/yr vs 15.18%/yr for SPYM. A 0.65 correlation means they provide meaningful diversification when combined. QVMT charges 0.13%/yr vs 0.02%/yr for SPYM.
Performance
QVMT vs. SPYM - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, QVMT achieves a 17.80% return, which is significantly higher than SPYM's 10.50% return. Over the past 10 years, QVMT has underperformed SPYM with an annualized return of 12.93%, while SPYM has yielded a comparatively higher 15.18% 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%
SPYM
- 1D
- -0.75%
- 1M
- 1.29%
- 6M
- 8.37%
- YTD
- 10.50%
- 1Y
- 21.58%
- 3Y*
- 20.18%
- 5Y*
- 13.01%
- 10Y*
- 15.18%
QVMT vs. SPYM - 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% |
SPYM State Street SPDR Portfolio S&P 500 ETF | 10.50% | 17.79% | 25.00% | 26.24% | -18.09% | 28.78% | 18.49% | 31.99% | -4.78% | 21.30% |
Correlation
The correlation between QVMT and SPYM is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Oct 9, 2015 | 0.65 |
The correlation between QVMT and SPYM shifts across timeframes, from 0.58 (3 years) to 0.69 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
QVMT vs. SPYM — Risk / Return Rank
QVMT
SPYM
QVMT vs. SPYM - 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 ETF (SPYM). 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 | SPYM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.35 | ||
| Sortino ratioReturn per unit of downside risk | +0.48 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.31 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 4.75 | 2.43 | +2.32 |
| Martin ratioReturn relative to average drawdown | 15.94 | 10.62 | +5.32 |
Loading charts...
Drawdowns
QVMT vs. SPYM - Drawdown Comparison
The maximum QVMT drawdown since its inception was -48.05%, smaller than the maximum SPYM drawdown of -54.46%. Use the drawdown chart below to compare losses from any high point for QVMT and SPYM.
Loading charts...
Drawdown Indicators
| QVMT | SPYM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.05% | -54.46% | +6.41% |
Max Drawdown (1Y)Largest decline over 1 year | -6.25% | -8.90% | +2.65% |
Max Drawdown (3Y)Largest decline over 3 years | -14.42% | -18.72% | +4.30% |
Max Drawdown (5Y)Largest decline over 5 years | -21.95% | -24.48% | +2.53% |
Max Drawdown (10Y)Largest decline over 10 years | -48.05% | -33.87% | -14.18% |
Current DrawdownCurrent decline from peak | -4.57% | -1.09% | -3.48% |
Average DrawdownAverage peak-to-trough decline | -6.30% | -7.13% | +0.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.87% | 2.04% | -0.17% |
Volatility
QVMT vs. SPYM - 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 ETF (SPYM) at 4.22%. This indicates that QVMT's price experiences larger fluctuations and is considered to be riskier than SPYM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| QVMT | SPYM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.79% | 4.22% | +3.57% |
Volatility (6M)Calculated over the trailing 6-month period | 11.32% | 9.99% | +1.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.35% | 12.55% | +1.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.45% | 16.92% | +0.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.18% | 18.00% | +3.18% |
QVMT vs. SPYM - Expense Ratio Comparison
QVMT has a 0.13% expense ratio, which is higher than SPYM's 0.02% 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. SPYM - Dividend Comparison
QVMT's dividend yield for the trailing twelve months is around 1.85%, more than SPYM's 1.03% 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% |
SPYM State Street SPDR Portfolio S&P 500 ETF | 1.03% | 1.13% | 1.28% | 1.44% | 1.69% | 1.25% | 1.54% | 1.79% | 2.23% | 1.75% | 1.97% | 1.98% |
Frequently Asked Questions
QVMT and SPYM have a correlation of 0.58, 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 SPYM (4.22%). In terms of maximum drawdown, QVMT dropped -48.05% vs SPYM's -54.46%.
On 10-year performance, SPYM leads with 15.18% vs 12.93% for QVMT. On fees, SPYM is cheaper at 0.02% per year. On volatility, SPYM has been the lower-risk option at 4.22%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPYM has performed better with a 15.18% return vs 12.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPYM is cheaper with a 0.02% expense ratio, compared with 0.13% for QVMT.
QVMT has the higher dividend yield at 1.85%, compared with 1.03% for SPYM.
QVMT tracks S&P 500 Quality, Value & Momentum Multi-factor Index, while SPYM tracks S&P 500 Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.13% for QVMT and 0.02% for SPYM.
QVMT currently has the higher Sharpe Ratio (2.08 vs 1.73), 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.
Find the right allocation for QVMT and SPYM
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer