SPLV vs. IDLV

Last updated Jun 5, 2026

SPLV (Invesco S&P 500 Low Volatility ETF) and IDLV (Invesco S&P International Developed Low Volatility ETF) are both exchange-traded funds - SPLV is a S&P 500 fund tracking the S&P 500 Low Volatility Index, while IDLV is a Volatility Hedged Equity fund tracking the S&P BMI International Developed Low Volatility Index. Both are passively managed. Over the past 10 years, SPLV returned 8.12%/yr vs 5.05%/yr for IDLV. A 0.63 correlation means they provide meaningful diversification when combined. Both charge a 0.25% expense ratio.

Performance

SPLV vs. IDLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Low Volatility ETF (SPLV) and Invesco S&P International Developed Low Volatility ETF (IDLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPLV achieves a 2.34% return, which is significantly lower than IDLV's 2.63% return. Over the past 10 years, SPLV has outperformed IDLV with an annualized return of 8.12%, while IDLV has yielded a comparatively lower 5.05% annualized return.

SPLV

• 1D: 1.00%
• 1M: -1.54%
• YTD: 2.34%
• 6M: 2.40%
• 1Y: 1.57%
• 3Y*: 7.86%
• 5Y*: 5.54%
• 10Y*: 8.12%

IDLV

• 1D: 0.27%
• 1M: -2.61%
• YTD: 2.63%
• 6M: 4.87%
• 1Y: 9.37%
• 3Y*: 12.03%
• 5Y*: 5.93%
• 10Y*: 5.05%

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

SPLV vs. IDLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPLV Invesco S&P 500 Low Volatility ETF	2.34%	4.10%	13.93%	0.53%	-4.88%	24.13%	-1.39%	27.87%	-0.19%	17.32%
IDLV Invesco S&P International Developed Low Volatility ETF	2.63%	27.77%	2.15%	9.18%	-12.21%	9.76%	-9.78%	20.09%	-8.02%	22.01%

Correlation

The correlation between SPLV and IDLV is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (10Y) Calculated over the trailing 10-year period	0.61
Correlation (All Time) Calculated using the full available price history since Jan 18, 2012	0.63

The correlation between SPLV and IDLV has been stable across timeframes, ranging from 0.54 to 0.63 - a consistent structural relationship.

SPLV vs. IDLV - Sectors Allocation Comparison

Sectors	SPLV	IDLV
Utilities	26.8%	11.4%
Financial Services	16.6%	22.9%
Real Estate	14.8%	15.4%
Consumer Defensive	10.8%	13.8%
Industrials	10.1%	16.4%
Healthcare	6.8%	1.7%
Consumer Cyclical	5.7%	3.8%
Technology	4.6%	0.7%
Basic Materials	2.0%	2.3%
Energy	0.9%	3.6%
Communication Services	0.9%	8.6%

Return for Risk

SPLV vs. IDLV — Risk / Return Rank

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

SPLV

SPLV Risk / Return Rank: 11
SPLV Sharpe Ratio Rank: 12
SPLV Sortino Ratio Rank: 11
SPLV Omega Ratio Rank: 11
SPLV Calmar Ratio Rank: 12
SPLV Martin Ratio Rank: 12

IDLV

IDLV Risk / Return Rank: 27
IDLV Sharpe Ratio Rank: 27
IDLV Sortino Ratio Rank: 26
IDLV Omega Ratio Rank: 27
IDLV Calmar Ratio Rank: 26
IDLV Martin Ratio Rank: 27

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.

SPLV vs. IDLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Low Volatility ETF (SPLV) and Invesco S&P International Developed Low Volatility ETF (IDLV). 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.

	SPLV	IDLV	Difference
Sharpe ratio: Return per unit of total volatility	0.16	0.96	-0.80
Sortino ratio: Return per unit of downside risk	0.29	1.41	-1.11
Omega ratio: Gain probability vs. loss probability	1.03	1.18	-0.14
Calmar ratio: Return relative to maximum drawdown	0.21	1.25	-1.04
Martin ratio: Return relative to average drawdown	0.51	3.66	-3.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPLV vs. IDLV - Sharpe Ratio Comparison

The current SPLV Sharpe Ratio is 0.16, which is lower than the IDLV Sharpe Ratio of 0.96. The chart below compares the historical Sharpe Ratios of SPLV and IDLV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SPLV	IDLV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.16	0.96	-0.80
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	0.51	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	0.38	+0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.45	+0.23

Drawdowns

SPLV vs. IDLV - Drawdown Comparison

The maximum SPLV drawdown since its inception was -36.26%, roughly equal to the maximum IDLV drawdown of -34.65%. Use the drawdown chart below to compare losses from any high point for SPLV and IDLV.

Drawdown Indicators

	SPLV	IDLV	Difference
Max Drawdown Largest peak-to-trough decline	-36.26%	-34.65%	-1.61%
Max Drawdown (1Y) Largest decline over 1 year	-7.41%	-7.54%	+0.13%
Max Drawdown (3Y) Largest decline over 3 years	-9.64%	-9.97%	+0.33%
Max Drawdown (5Y) Largest decline over 5 years	-17.26%	-22.52%	+5.26%
Max Drawdown (10Y) Largest decline over 10 years	-36.26%	-34.65%	-1.61%
Current Drawdown Current decline from peak	-5.97%	-5.69%	-0.28%
Average Drawdown Average peak-to-trough decline	-3.55%	-5.95%	+2.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.07%	2.57%	+0.50%

Volatility

SPLV vs. IDLV - Volatility Comparison

Invesco S&P 500 Low Volatility ETF (SPLV) has a higher volatility of 3.17% compared to Invesco S&P International Developed Low Volatility ETF (IDLV) at 2.51%. This indicates that SPLV's price experiences larger fluctuations and is considered to be riskier than IDLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPLV	IDLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.17%	2.51%	+0.66%
Volatility (6M) Calculated over the trailing 6-month period	6.82%	7.65%	-0.83%
Volatility (1Y) Calculated over the trailing 1-year period	9.83%	9.76%	+0.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.46%	11.79%	+0.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.36%	13.39%	+1.97%

SPLV vs. IDLV - Expense Ratio Comparison

Both SPLV and IDLV have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

SPLV vs. IDLV - Dividend Comparison

SPLV's dividend yield for the trailing twelve months is around 2.20%, less than IDLV's 4.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IDLV Invesco S&P International Developed Low Volatility ETF	4.69%	4.63%	3.41%	3.59%	4.69%	2.99%	2.30%	4.92%	3.94%	3.05%	3.92%	3.93%
SPLV Invesco S&P 500 Low Volatility ETF	2.20%	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

Can I hold both SPLV and IDLV in my portfolio?

SPLV and IDLV have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPLV or IDLV?

SPLV has higher volatility (3.17%) compared to IDLV (2.51%). In terms of maximum drawdown, SPLV dropped -36.26% vs IDLV's -34.65%.

Which ETF is better, SPLV or IDLV?

On 10-year performance, SPLV leads with 8.12% vs 5.05% for IDLV. Both ETFs have the same 0.25% expense ratio. On volatility, IDLV has been the lower-risk option at 2.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPLV or IDLV?

Over the 10-year period, SPLV has performed better with a 8.12% return vs 5.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPLV or IDLV?

SPLV and IDLV have the same expense ratio: 0.25% per year.

Which ETF pays a higher dividend yield, SPLV or IDLV?

IDLV has the higher dividend yield at 4.69%, compared with 2.20% for SPLV.

What is the main difference between SPLV and IDLV?

SPLV is categorized as S&P 500, while IDLV is Volatility Hedged Equity. SPLV tracks S&P 500 Low Volatility Index, while IDLV tracks S&P BMI International Developed Low Volatility Index.

Which has better risk-adjusted returns?

IDLV currently has the higher Sharpe Ratio (0.96 vs 0.16), 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.