SPLV vs. FUTY
SPLV (Invesco S&P 500 Low Volatility ETF) and FUTY (Fidelity MSCI Utilities Index ETF) are both exchange-traded funds - SPLV is a S&P 500 fund tracking the S&P 500 Low Volatility Index, while FUTY is a Utilities Equities fund tracking the MSCI USA IMI Utilities Index. Both are passively managed. Over the past 10 years, SPLV returned 8.08%/yr vs 9.06%/yr for FUTY. A 0.73 correlation means they provide meaningful diversification when combined. SPLV charges 0.25%/yr vs 0.08%/yr for FUTY.
Performance
SPLV vs. FUTY - Performance Comparison
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Returns By Period
In the year-to-date period, SPLV achieves a 7.47% return, which is significantly lower than FUTY's 8.15% return. Over the past 10 years, SPLV has underperformed FUTY with an annualized return of 8.08%, while FUTY has yielded a comparatively higher 9.06% annualized return.
SPLV
- 1D
- -0.65%
- 1M
- 2.13%
- 6M
- 6.43%
- YTD
- 7.47%
- 1Y
- 6.49%
- 3Y*
- 8.78%
- 5Y*
- 6.17%
- 10Y*
- 8.08%
FUTY
- 1D
- 0.00%
- 1M
- 3.12%
- 6M
- 7.37%
- YTD
- 8.15%
- 1Y
- 13.38%
- 3Y*
- 14.30%
- 5Y*
- 9.94%
- 10Y*
- 9.06%
SPLV vs. FUTY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPLV Invesco S&P 500 Low Volatility ETF | 7.47% | 4.10% | 13.93% | 0.53% | -4.88% | 24.13% | -1.39% | 27.87% | -0.19% | 17.32% |
FUTY Fidelity MSCI Utilities Index ETF | 8.15% | 16.40% | 23.20% | -7.46% | 1.12% | 17.53% | -0.80% | 24.89% | 4.36% | 12.52% |
Correlation
The correlation between SPLV and FUTY is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Oct 24, 2013 | 0.73 |
The correlation between SPLV and FUTY shifts across timeframes, from 0.57 (1 year) to 0.75 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SPLV vs. FUTY — Risk / Return Rank
SPLV
FUTY
SPLV vs. FUTY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Low Volatility ETF (SPLV) and Fidelity MSCI Utilities Index ETF (FUTY). 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 | FUTY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.16 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.88 | 1.50 | -0.62 |
| Martin ratioReturn relative to average drawdown | 2.02 | 3.16 | -1.14 |
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Drawdowns
SPLV vs. FUTY - Drawdown Comparison
The maximum SPLV drawdown since its inception was -36.26%, roughly equal to the maximum FUTY drawdown of -36.44%. Use the drawdown chart below to compare losses from any high point for SPLV and FUTY.
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Drawdown Indicators
| SPLV | FUTY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.26% | -36.44% | +0.18% |
Max Drawdown (1Y)Largest decline over 1 year | -7.41% | -8.93% | +1.52% |
Max Drawdown (3Y)Largest decline over 3 years | -9.64% | -17.35% | +7.71% |
Max Drawdown (5Y)Largest decline over 5 years | -17.26% | -25.11% | +7.85% |
Max Drawdown (10Y)Largest decline over 10 years | -36.26% | -36.44% | +0.18% |
Current DrawdownCurrent decline from peak | -1.31% | -2.80% | +1.49% |
Average DrawdownAverage peak-to-trough decline | -3.55% | -6.01% | +2.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.22% | 4.25% | -1.03% |
Volatility
SPLV vs. FUTY - Volatility Comparison
Invesco S&P 500 Low Volatility ETF (SPLV) and Fidelity MSCI Utilities Index ETF (FUTY) have volatilities of 4.19% and 4.31%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPLV | FUTY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.19% | 4.31% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 7.86% | 11.62% | -3.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.52% | 14.65% | -4.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.57% | 17.09% | -4.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.40% | 19.08% | -3.68% |
SPLV vs. FUTY - Expense Ratio Comparison
SPLV has a 0.25% expense ratio, which is higher than FUTY's 0.08% 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. FUTY - Dividend Comparison
SPLV's dividend yield for the trailing twelve months is around 2.11%, less than FUTY's 2.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FUTY Fidelity MSCI Utilities Index ETF | 2.57% | 2.67% | 2.96% | 3.31% | 2.72% | 2.70% | 3.07% | 2.82% | 3.11% | 3.03% | 3.35% | 4.33% |
SPLV Invesco S&P 500 Low Volatility ETF | 2.11% | 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 FUTY have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FUTY has higher volatility (4.31%) compared to SPLV (4.19%). In terms of maximum drawdown, SPLV dropped -36.26% vs FUTY's -36.44%.
On 10-year performance, FUTY leads with 9.06% vs 8.08% for SPLV. On fees, FUTY is cheaper at 0.08% per year. On volatility, SPLV has been the lower-risk option at 4.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FUTY has performed better with a 9.06% return vs 8.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FUTY is cheaper with a 0.08% expense ratio, compared with 0.25% for SPLV.
FUTY has the higher dividend yield at 2.57%, compared with 2.11% for SPLV.
SPLV is categorized as S&P 500, while FUTY is Utilities Equities. SPLV tracks S&P 500 Low Volatility Index, while FUTY tracks MSCI USA IMI Utilities Index. They also come from different issuers: Invesco and Fidelity. Their fees differ too: 0.25% for SPLV and 0.08% for FUTY.
FUTY currently has the higher Sharpe Ratio (0.92 vs 0.62), 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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