SPMV vs. ^GSPC

Last updated Jul 14, 2026

SPMV (Invesco S&P 500 Minimum Variance ETF) is S&P 500 fund tracking the S&P 500 Minimum Volatility Index, while ^GSPC (S&P 500 Index) is an index. A 0.79 correlation means they provide meaningful diversification when combined.

Performance

SPMV vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Minimum Variance ETF (SPMV) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SPMV

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

^GSPC

• 1D: -0.79%
• 1M: 1.13%
• 6M: 7.71%
• YTD: 9.79%
• 1Y: 20.06%
• 3Y*: 18.60%
• 5Y*: 11.43%
• 10Y*: 13.27%

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

SPMV vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPMV Invesco S&P 500 Minimum Variance ETF	0.87%	11.69%	18.78%	10.28%	-10.84%	24.35%	8.57%	32.13%	-6.28%	7.84%
^GSPC S&P 500 Index	9.79%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	9.39%

Correlation

The correlation between SPMV and ^GSPC 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	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since Aug 24, 2017	0.79

Over the past year, the correlation between SPMV and ^GSPC has dropped to 0.57 - well below their long-term average of 0.79, suggesting their price drivers have been diverging.

Return for Risk

SPMV vs. ^GSPC — Risk / Return Rank

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

SPMV

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

^GSPC

^GSPC Risk / Return Rank: 71
^GSPC Sharpe Ratio Rank: 69
^GSPC Sortino Ratio Rank: 69
^GSPC Omega Ratio Rank: 74
^GSPC Calmar Ratio Rank: 62
^GSPC Martin Ratio Rank: 79

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.

SPMV vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Minimum Variance ETF (SPMV) and S&P 500 Index (^GSPC). 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.

	SPMV	^GSPC	Difference
Sharpe ratio: Return per unit of total volatility	—	1.61	—
Sortino ratio: Return per unit of downside risk	—	2.22	—
Omega ratio: Gain probability vs. loss probability	—	1.29	—
Calmar ratio: Return relative to maximum drawdown	—	2.21	—
Martin ratio: Return relative to average drawdown	—	9.61	—

Drawdowns

Drawdown Indicators

	SPMV	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	—	-56.78%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-9.10%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-18.90%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.43%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.92%	—
Current Drawdown Current decline from peak	—	-1.24%	—
Average Drawdown Average peak-to-trough decline	—	-10.71%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.09%	—

Volatility

Volatility by Period

	SPMV	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.96%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.99%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	12.57%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	17.01%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	18.05%	—

Frequently Asked Questions

Can I hold both SPMV and ^GSPC in my portfolio?

SPMV and ^GSPC 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.