SPLV vs. SPYM
SPLV (Invesco S&P 500 Low Volatility ETF) and SPYM (State Street SPDR Portfolio S&P 500 ETF) are both S&P 500 funds - SPLV tracks the S&P 500 Low Volatility Index while SPYM tracks the S&P 500 Index. Both are passively managed. Over the past 10 years, SPLV returned 8.31%/yr vs 15.41%/yr for SPYM. Their 0.62 correlation means they have sometimes moved together and sometimes differently. SPLV charges 0.25%/yr vs 0.02%/yr for SPYM.
Performance
SPLV vs. SPYM - Performance Comparison
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Returns By Period
In the year-to-date period, SPLV achieves a 8.35% return, which is significantly lower than SPYM's 13.77% return. Over the past 10 years, SPLV has underperformed SPYM with an annualized return of 8.31%, while SPYM has yielded a comparatively higher 15.41% annualized return.
SPLV
- 1D
- 0.24%
- 1M
- -0.26%
- 6M
- 4.38%
- YTD
- 8.35%
- 1Y
- 6.81%
- 3Y*
- 9.48%
- 5Y*
- 6.08%
- 10Y*
- 8.31%
- ALL TIME*
- 10.15%
SPYM
- 1D
- 1.79%
- 1M
- 3.56%
- 6M
- 12.49%
- YTD
- 13.77%
- 1Y
- 23.66%
- 3Y*
- 21.55%
- 5Y*
- 13.40%
- 10Y*
- 15.41%
- ALL TIME*
- 11.33%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $170.51M | $164.24M | $187.77M | |
| $818.63M | $951.40M | $1.11B |
SPLV vs. SPYM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPLV Invesco S&P 500 Low Volatility ETF | 8.35% | 4.10% | 13.93% | 0.53% | -4.88% | 24.13% | -1.39% | 27.87% | -0.19% | 17.32% |
SPYM State Street SPDR Portfolio S&P 500 ETF | 13.77% | 17.79% | 25.00% | 26.24% | -18.09% | 28.78% | 18.49% | 31.99% | -4.78% | 21.30% |
Correlation
The correlation between SPLV and SPYM is -0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.01 |
Correlation (3Y) Balances recent behavior with more history. | 0.33 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.50 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.60 |
Correlation (All Time) Calculated using the full available price history since May 5, 2011 | 0.62 |
The correlation between SPLV and SPYM shifts across timeframes, from -0.01 (1 year) to 0.62 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SPLV vs. SPYM — Risk / Return Rank
SPLV
SPYM
SPLV vs. SPYM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Low Volatility ETF (SPLV) 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.
| SPLV | SPYM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.21 | ||
| Sortino ratioReturn per unit of downside risk | -1.57 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.33 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | 2.67 | -1.75 |
| Martin ratioReturn relative to average drawdown | 2.11 | 11.40 | -9.29 |
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Drawdowns
SPLV vs. SPYM - Drawdown Comparison
The maximum SPLV drawdown since its inception was -36.26%, smaller than the maximum SPYM drawdown of -54.46%. Use the drawdown chart below to compare losses from any high point for SPLV and SPYM.
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Drawdown Indicators
| SPLV | SPYM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.26% | -54.46% | +18.20% |
Max Drawdown (1Y)Largest decline over 1 year | -7.41% | -8.90% | +1.49% |
Max Drawdown (3Y)Largest decline over 3 years | -9.10% | -18.72% | +9.62% |
Max Drawdown (5Y)Largest decline over 5 years | -17.26% | -24.48% | +7.22% |
Max Drawdown (10Y)Largest decline over 10 years | -36.26% | -33.87% | -2.39% |
Current DrawdownCurrent decline from peak | -2.03% | 0.00% | -2.03% |
Average DrawdownAverage peak-to-trough decline | -3.54% | -7.11% | +3.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.23% | 2.08% | +1.15% |
Volatility
SPLV vs. SPYM - Volatility Comparison
Invesco S&P 500 Low Volatility ETF (SPLV) and State Street SPDR Portfolio S&P 500 ETF (SPYM) have volatilities of 3.86% and 4.06%, 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 | SPYM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.86% | 4.06% | -0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 8.27% | 10.31% | -2.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.70% | 12.90% | -2.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.60% | 16.95% | -4.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.42% | 18.03% | -2.61% |
SPLV vs. SPYM - Expense Ratio Comparison
SPLV has a 0.25% 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
SPLV vs. SPYM - Dividend Comparison
SPLV's dividend yield for the trailing twelve months is around 2.12%, more than SPYM's 1.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SPYM State Street SPDR Portfolio S&P 500 ETF | 1.00% | 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
SPLV and SPYM have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPYM has higher volatility (4.06%) compared to SPLV (3.86%). In terms of maximum drawdown, SPLV dropped -36.26% vs SPYM's -54.46%.
On 10-year performance, SPYM leads with 15.41% vs 8.31% for SPLV. On fees, SPYM is cheaper at 0.02% per year. On volatility, SPLV has been the lower-risk option at 3.86%. 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 15.41% return vs 8.31%. 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 0.25% for SPLV.
SPLV has the higher dividend yield at 2.12%, compared with 1.00% for SPYM.
SPLV tracks S&P 500 Low Volatility Index, while SPYM tracks S&P 500 Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.25% for SPLV and 0.02% for SPYM.
SPYM currently has the higher Sharpe Ratio (1.85 vs 0.64), 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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