SPLV vs. SPYV

Last updated Jun 4, 2026

SPLV (Invesco S&P 500 Low Volatility ETF) and SPYV (SPDR Portfolio S&P 500 Value ETF) are both S&P 500 funds - SPLV tracks the S&P 500 Low Volatility Index while SPYV tracks the S&P 500 Value. Both are passively managed. Over the past 10 years, SPLV returned 8.01%/yr vs 11.90%/yr for SPYV. A 0.75 correlation means they provide meaningful diversification when combined. SPLV charges 0.25%/yr vs 0.04%/yr for SPYV.

Performance

SPLV vs. SPYV - Performance Comparison

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

Returns By Period

In the year-to-date period, SPLV achieves a 1.32% return, which is significantly lower than SPYV's 7.46% return. Over the past 10 years, SPLV has underperformed SPYV with an annualized return of 8.01%, while SPYV has yielded a comparatively higher 11.90% annualized return.

SPLV

• 1D: 0.08%
• 1M: -2.50%
• YTD: 1.32%
• 6M: 1.06%
• 1Y: -0.03%
• 3Y*: 7.54%
• 5Y*: 5.33%
• 10Y*: 8.01%

SPYV

• 1D: -0.36%
• 1M: 2.22%
• YTD: 7.46%
• 6M: 7.77%
• 1Y: 21.26%
• 3Y*: 15.72%
• 5Y*: 10.68%
• 10Y*: 11.90%

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

SPLV vs. SPYV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPLV Invesco S&P 500 Low Volatility ETF	1.32%	4.10%	13.93%	0.53%	-4.88%	24.13%	-1.39%	27.87%	-0.19%	17.32%
SPYV SPDR Portfolio S&P 500 Value ETF	7.46%	13.18%	12.24%	22.20%	-5.28%	24.91%	1.38%	31.70%	-9.01%	15.40%

Correlation

The correlation between SPLV and SPYV 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	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (10Y) Calculated over the trailing 10-year period	0.72
Correlation (All Time) Calculated using the full available price history since May 6, 2011	0.75

The correlation between SPLV and SPYV shifts across timeframes, from 0.57 (1 year) to 0.75 (all time), reflecting how their relationship changes across market environments.

SPLV vs. SPYV - Sectors Allocation Comparison

Sectors	SPLV	SPYV
Utilities	26.8%	4.4%
Financial Services	16.6%	14.7%
Real Estate	14.8%	3.3%
Consumer Defensive	10.8%	9.2%
Industrials	10.1%	10.6%
Healthcare	6.8%	11.6%
Consumer Cyclical	5.7%	10.9%
Technology	4.6%	21.2%
Basic Materials	2.0%	3.4%
Energy	0.9%	7.4%
Communication Services	0.9%	3.2%

Return for Risk

SPLV vs. SPYV — Risk / Return Rank

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

SPLV

SPLV Risk / Return Rank: 8
SPLV Sharpe Ratio Rank: 8
SPLV Sortino Ratio Rank: 8
SPLV Omega Ratio Rank: 8
SPLV Calmar Ratio Rank: 8
SPLV Martin Ratio Rank: 8

SPYV

SPYV Risk / Return Rank: 66
SPYV Sharpe Ratio Rank: 63
SPYV Sortino Ratio Rank: 64
SPYV Omega Ratio Rank: 63
SPYV Calmar Ratio Rank: 68
SPYV Martin Ratio Rank: 69

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. SPYV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Low Volatility ETF (SPLV) and SPDR Portfolio S&P 500 Value ETF (SPYV). 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	SPYV	Difference
Sharpe ratio: Return per unit of total volatility	-0.00	2.17	-2.18
Sortino ratio: Return per unit of downside risk	0.06	3.05	-2.99
Omega ratio: Gain probability vs. loss probability	1.01	1.39	-0.38
Calmar ratio: Return relative to maximum drawdown	-0.00	3.43	-3.44
Martin ratio: Return relative to average drawdown	-0.01	13.16	-13.17
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. SPYV - Sharpe Ratio Comparison

The current SPLV Sharpe Ratio is -0.00, which is lower than the SPYV Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of SPLV and SPYV, 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	SPYV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.00	2.17	-2.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.75	-0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	0.70	-0.18
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.42	+0.26

Drawdowns

SPLV vs. SPYV - Drawdown Comparison

The maximum SPLV drawdown since its inception was -36.26%, smaller than the maximum SPYV drawdown of -58.45%. Use the drawdown chart below to compare losses from any high point for SPLV and SPYV.

Drawdown Indicators

	SPLV	SPYV	Difference
Max Drawdown Largest peak-to-trough decline	-36.26%	-58.45%	+22.19%
Max Drawdown (1Y) Largest decline over 1 year	-7.41%	-6.22%	-1.19%
Max Drawdown (3Y) Largest decline over 3 years	-9.64%	-17.54%	+7.90%
Max Drawdown (5Y) Largest decline over 5 years	-17.26%	-17.89%	+0.63%
Max Drawdown (10Y) Largest decline over 10 years	-36.26%	-36.89%	+0.63%
Current Drawdown Current decline from peak	-6.91%	-0.57%	-6.34%
Average Drawdown Average peak-to-trough decline	-3.55%	-8.72%	+5.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.05%	1.62%	+1.43%

Volatility

SPLV vs. SPYV - Volatility Comparison

Invesco S&P 500 Low Volatility ETF (SPLV) has a higher volatility of 2.97% compared to SPDR Portfolio S&P 500 Value ETF (SPYV) at 1.98%. This indicates that SPLV's price experiences larger fluctuations and is considered to be riskier than SPYV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPLV	SPYV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.97%	1.98%	+0.99%
Volatility (6M) Calculated over the trailing 6-month period	6.78%	7.04%	-0.26%
Volatility (1Y) Calculated over the trailing 1-year period	9.78%	9.84%	-0.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.45%	14.40%	-1.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.36%	16.94%	-1.58%

SPLV vs. SPYV - Expense Ratio Comparison

SPLV has a 0.25% expense ratio, which is higher than SPYV's 0.04% 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. SPYV - Dividend Comparison

SPLV's dividend yield for the trailing twelve months is around 2.22%, more than SPYV's 1.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPLV Invesco S&P 500 Low Volatility ETF	2.22%	2.04%	1.88%	2.45%	2.11%	1.51%	2.12%	2.08%	2.18%	2.03%	2.03%	2.28%
SPYV SPDR Portfolio S&P 500 Value ETF	1.70%	1.77%	2.29%	1.75%	2.22%	2.10%	2.38%	2.25%	2.97%	2.77%	2.39%	2.53%

Frequently Asked Questions

Can I hold both SPLV and SPYV in my portfolio?

SPLV and SPYV 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.

Which is riskier, SPLV or SPYV?

SPLV has higher volatility (2.97%) compared to SPYV (1.98%). In terms of maximum drawdown, SPLV dropped -36.26% vs SPYV's -58.45%.

Which ETF is better, SPLV or SPYV?

On 10-year performance, SPYV leads with 11.90% vs 8.01% for SPLV. On fees, SPYV is cheaper at 0.04% per year. On volatility, SPYV has been the lower-risk option at 1.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPLV or SPYV?

Over the 10-year period, SPYV has performed better with a 11.90% return vs 8.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPLV or SPYV?

SPYV is cheaper with a 0.04% expense ratio, compared with 0.25% for SPLV.

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

SPLV has the higher dividend yield at 2.22%, compared with 1.70% for SPYV.

What is the main difference between SPLV and SPYV?

SPLV tracks S&P 500 Low Volatility Index, while SPYV tracks S&P 500 Value. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.25% for SPLV and 0.04% for SPYV.

Which has better risk-adjusted returns?

SPYV currently has the higher Sharpe Ratio (2.17 vs -0.00), 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.