SPLV vs. ACWV
SPLV (Invesco S&P 500 Low Volatility ETF) and ACWV (iShares MSCI Global Min Vol Factor ETF) are both exchange-traded funds - SPLV is a S&P 500 fund tracking the S&P 500 Low Volatility Index, while ACWV is a Global Equities fund tracking the MSCI ACWI Minimum Volatility Index. Both are passively managed. Over the past 10 years, SPLV returned 8.28%/yr vs 7.22%/yr for ACWV. Their correlation of 0.84 means they have usually moved in the same direction. SPLV charges 0.25%/yr vs 0.20%/yr for ACWV.
Performance
SPLV vs. ACWV - Performance Comparison
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Returns By Period
In the year-to-date period, SPLV achieves a 8.10% return, which is significantly higher than ACWV's 5.77% return. Over the past 10 years, SPLV has outperformed ACWV with an annualized return of 8.28%, while ACWV has yielded a comparatively lower 7.22% annualized return.
SPLV
- 1D
- -0.03%
- 1M
- -0.49%
- 6M
- 4.74%
- YTD
- 8.10%
- 1Y
- 7.67%
- 3Y*
- 9.39%
- 5Y*
- 6.09%
- 10Y*
- 8.28%
- ALL TIME*
- 10.14%
ACWV
- 1D
- 0.02%
- 1M
- 2.00%
- 6M
- 3.53%
- YTD
- 5.77%
- 1Y
- 8.71%
- 3Y*
- 10.89%
- 5Y*
- 5.71%
- 10Y*
- 7.22%
- ALL TIME*
- 8.75%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $13.15M | $11.49M | $12.64M | |
| $164.48M | $163.53M | $188.20M |
SPLV vs. ACWV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPLV Invesco S&P 500 Low Volatility ETF | 8.10% | 4.10% | 13.93% | 0.53% | -4.88% | 24.13% | -1.39% | 27.87% | -0.19% | 17.32% |
ACWV iShares MSCI Global Min Vol Factor ETF | 5.77% | 11.04% | 11.38% | 8.23% | -10.36% | 13.97% | 3.04% | 21.04% | -1.42% | 18.57% |
Correlation
The correlation between SPLV and ACWV is 0.63, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.63 |
Correlation (3Y) Balances recent behavior with more history. | 0.78 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.81 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.84 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2011 | 0.84 |
Over the past year, the correlation between SPLV and ACWV has dropped to 0.63 - well below their long-term average of 0.84, suggesting their price drivers have been diverging.
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Return for Risk
SPLV vs. ACWV — Risk / Return Rank
SPLV
ACWV
SPLV vs. ACWV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Low Volatility ETF (SPLV) and iShares MSCI Global Min Vol Factor ETF (ACWV). 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.
| SPLV | ACWV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.20 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.04 | 1.37 | -0.33 |
| Martin ratioReturn relative to average drawdown | 2.38 | 3.90 | -1.52 |
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Drawdowns
SPLV vs. ACWV - Drawdown Comparison
The maximum SPLV drawdown since its inception was -36.26%, which is greater than ACWV's maximum drawdown of -28.82%. Use the drawdown chart below to compare losses from any high point for SPLV and ACWV.
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Drawdown Indicators
| SPLV | ACWV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.26% | -28.82% | -7.44% |
Max Drawdown (1Y)Largest decline over 1 year | -7.41% | -6.37% | -1.04% |
Max Drawdown (3Y)Largest decline over 3 years | -9.10% | -7.56% | -1.54% |
Max Drawdown (5Y)Largest decline over 5 years | -17.26% | -18.14% | +0.88% |
Max Drawdown (10Y)Largest decline over 10 years | -36.26% | -28.82% | -7.44% |
Current DrawdownCurrent decline from peak | -2.26% | -0.34% | -1.92% |
Average DrawdownAverage peak-to-trough decline | -3.54% | -3.10% | -0.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.23% | 2.24% | +0.99% |
Volatility
SPLV vs. ACWV - Volatility Comparison
Invesco S&P 500 Low Volatility ETF (SPLV) has a higher volatility of 3.93% compared to iShares MSCI Global Min Vol Factor ETF (ACWV) at 2.32%. This indicates that SPLV's price experiences larger fluctuations and is considered to be riskier than ACWV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPLV | ACWV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.93% | 2.32% | +1.61% |
Volatility (6M)Calculated over the trailing 6-month period | 8.27% | 6.41% | +1.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.72% | 8.05% | +2.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.61% | 10.30% | +2.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.42% | 12.30% | +3.12% |
SPLV vs. ACWV - Expense Ratio Comparison
SPLV has a 0.25% expense ratio, which is higher than ACWV's 0.20% 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
SPLV vs. ACWV - Dividend Comparison
SPLV's dividend yield for the trailing twelve months is around 2.12%, more than ACWV's 1.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACWV iShares MSCI Global Min Vol Factor ETF | 1.90% | 2.09% | 2.33% | 2.41% | 2.18% | 1.92% | 1.77% | 2.54% | 2.32% | 2.04% | 2.56% | 2.28% |
SPLV Invesco S&P 500 Low Volatility ETF | 2.12% | 2.04% | 1.88% | 2.45% | 2.11% | 1.51% | 2.12% | 2.08% | 2.18% | 2.03% | 2.03% | 2.28% |
Frequently Asked Questions
SPLV and ACWV have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPLV has higher volatility (3.93%) compared to ACWV (2.32%). In terms of maximum drawdown, SPLV dropped -36.26% vs ACWV's -28.82%.
On 10-year performance, SPLV leads with 8.28% vs 7.22% for ACWV. On fees, ACWV is cheaper at 0.20% per year. On volatility, ACWV has been the lower-risk option at 2.32%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPLV has performed better with a 8.28% return vs 7.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ACWV is cheaper with a 0.20% expense ratio, compared with 0.25% for SPLV.
SPLV has the higher dividend yield at 2.12%, compared with 1.90% for ACWV.
SPLV is categorized as S&P 500, while ACWV is Global Equities. SPLV tracks S&P 500 Low Volatility Index, while ACWV tracks MSCI ACWI Minimum Volatility Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.25% for SPLV and 0.20% for ACWV.
ACWV currently has the higher Sharpe Ratio (1.09 vs 0.72), 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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