SPMV vs. FDVV

Last updated Aug 2, 2026

SPMV (Invesco S&P 500 Minimum Variance ETF) and FDVV (Fidelity High Dividend ETF) are both exchange-traded funds - SPMV is a S&P 500 fund tracking the S&P 500 Minimum Volatility Index, while FDVV is a Large Cap Blend Equities fund tracking the Fidelity Core Dividend Index. Both are passively managed. Their 0.74 correlation means they have sometimes moved together and sometimes differently. SPMV charges 0.10%/yr vs 0.29%/yr for FDVV.

Performance

SPMV vs. FDVV - Performance Comparison

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

Returns By Period

SPMV

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

FDVV

• 1D: -0.35%
• 1M: 2.09%
• 6M: 9.39%
• YTD: 12.19%
• 1Y: 21.53%
• 3Y*: 18.35%
• 5Y*: 14.17%
• 10Y*: —
• ALL TIME*: 13.71%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FDVV Fidelity High Dividend ETF	$48.25M	$48.28M	$45.73M

SPMV vs. FDVV - 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%
FDVV Fidelity High Dividend ETF	12.19%	17.08%	21.81%	18.00%	-4.21%	29.24%	2.80%	24.07%	-1.26%	10.33%

Correlation

The correlation between SPMV and FDVV is 0.49, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.49
Correlation (3Y) Balances recent behavior with more history.	0.75
Correlation (5Y) Shows whether the relationship held over a longer period.	0.80
Correlation (All Time) Calculated using the full available price history since Aug 24, 2017	0.74

Over the past year, the correlation between SPMV and FDVV has dropped to 0.49 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.

SPMV vs. FDVV - Sectors Allocation Comparison

Sectors	SPMV	FDVV
Technology	26.9%	28.1%
Financial Services	17.8%	18.5%
Healthcare	15.0%	3.3%
Consumer Defensive	10.7%	11.0%
Consumer Cyclical	6.6%	13.4%
Communication Services	6.5%	3.4%
Industrials	6.0%	3.2%
Energy	4.8%	-
Utilities	2.8%	9.1%
Basic Materials	2.6%	-
Real Estate	0.2%	10.0%

Return for Risk

SPMV vs. FDVV — Risk / Return Rank

Compare historical risk-adjusted metric ranks 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.

FDVV

FDVV Risk / Return Rank: 78
FDVV Sharpe Ratio Rank: 85
FDVV Sortino Ratio Rank: 84
FDVV Omega Ratio Rank: 84
FDVV Calmar Ratio Rank: 64
FDVV Martin Ratio Rank: 74

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SPMV vs. FDVV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Minimum Variance ETF (SPMV) and Fidelity High Dividend ETF (FDVV). 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	FDVV	Difference
Sharpe ratio: Return per unit of total volatility	—	1.99	—
Sortino ratio: Return per unit of downside risk	—	2.77	—
Omega ratio: Gain probability vs. loss probability	—	1.36	—
Calmar ratio: Return relative to maximum drawdown	—	2.21	—
Martin ratio: Return relative to average drawdown	—	9.10	—

Drawdowns

Drawdown Indicators

	SPMV	FDVV	Difference
Max Drawdown Largest peak-to-trough decline	—	-40.25%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-9.30%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-15.90%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-20.18%	—
Current Drawdown Current decline from peak	—	-1.12%	—
Average Drawdown Average peak-to-trough decline	—	-3.76%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.26%	—

Volatility

Volatility by Period

	SPMV	FDVV	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.04%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.35%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	10.37%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	14.68%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	16.91%	—

SPMV vs. FDVV - Expense Ratio Comparison

SPMV has a 0.10% expense ratio, which is lower than FDVV's 0.29% expense ratio.

Dividends

SPMV vs. FDVV - Dividend Comparison

SPMV has not paid dividends to shareholders, while FDVV's dividend yield for the trailing twelve months is around 2.76%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FDVV Fidelity High Dividend ETF	2.76%	2.89%	2.94%	3.77%	3.44%	2.70%	3.19%	3.93%	4.05%	3.66%	1.04%
SPMV Invesco S&P 500 Minimum Variance ETF	1.05%	1.53%	1.53%	2.28%	1.79%	1.28%	1.71%	3.13%	2.11%	1.72%	0.00%

Frequently Asked Questions

Can I hold both SPMV and FDVV in my portfolio?

SPMV and FDVV have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPMV or FDVV?

On fees, SPMV is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPMV or FDVV?

SPMV is cheaper with a 0.10% expense ratio, compared with 0.29% for FDVV.

Which ETF pays a higher dividend yield, SPMV or FDVV?

FDVV has the higher dividend yield at 2.76%, compared with 1.05% for SPMV.

What is the main difference between SPMV and FDVV?

SPMV is categorized as S&P 500, while FDVV is Large Cap Blend Equities. SPMV tracks S&P 500 Minimum Volatility Index, while FDVV tracks Fidelity Core Dividend Index. They also come from different issuers: Invesco and Fidelity. Their fees differ too: 0.10% for SPMV and 0.29% for FDVV.