SPMV vs. JQUA

Last updated Jun 6, 2026

SPMV (Invesco S&P 500 Minimum Variance ETF) and JQUA (JPMorgan U.S. Quality Factor ETF) are both exchange-traded funds - SPMV is a S&P 500 fund tracking the S&P 500 Minimum Volatility Index, while JQUA is a Large Cap Growth Equities fund tracking the JP Morgan US Quality Factor Index. Both are passively managed. Their correlation of 0.84 suggests significant overlap in exposure. SPMV charges 0.10%/yr vs 0.12%/yr for JQUA.

Performance

SPMV vs. JQUA - Performance Comparison

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

Returns By Period

SPMV

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

JQUA

• 1D: -2.82%
• 1M: 3.22%
• YTD: 10.93%
• 6M: 10.62%
• 1Y: 19.51%
• 3Y*: 19.44%
• 5Y*: 13.27%
• 10Y*: —

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

SPMV vs. JQUA - 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%	6.21%
JQUA JPMorgan U.S. Quality Factor ETF	10.93%	11.69%	21.21%	25.13%	-13.45%	28.68%	16.56%	28.47%	-2.98%	5.07%

Correlation

The correlation between SPMV and JQUA is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (All Time) Calculated using the full available price history since Nov 10, 2017	0.84

The correlation between SPMV and JQUA shifts across timeframes, from 0.69 (1 year) to 0.87 (5 years), reflecting how their relationship changes across market environments.

SPMV vs. JQUA - Sectors Allocation Comparison

Sectors	SPMV	JQUA
Technology	26.9%	41.9%
Financial Services	17.8%	10.2%
Healthcare	15.0%	7.2%
Consumer Defensive	10.7%	5.3%
Consumer Cyclical	6.6%	9.2%
Communication Services	6.5%	5.5%
Industrials	6.0%	7.6%
Energy	4.8%	3.2%
Utilities	2.8%	2.3%
Basic Materials	2.6%	0.8%
Real Estate	0.2%	2.1%

Return for Risk

SPMV vs. JQUA — Risk / Return Rank

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

JQUA

JQUA Risk / Return Rank: 54
JQUA Sharpe Ratio Rank: 51
JQUA Sortino Ratio Rank: 50
JQUA Omega Ratio Rank: 48
JQUA Calmar Ratio Rank: 57
JQUA Martin Ratio Rank: 65

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. JQUA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Minimum Variance ETF (SPMV) and JPMorgan U.S. Quality Factor ETF (JQUA). 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.

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

Sharpe Ratios by Period

	SPMV	JQUA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.69	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.85	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.81	—

Drawdowns

Drawdown Indicators

	SPMV	JQUA	Difference
Max Drawdown Largest peak-to-trough decline	—	-32.92%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-7.13%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-16.81%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-22.47%	—
Current Drawdown Current decline from peak	—	-3.09%	—
Average Drawdown Average peak-to-trough decline	—	-4.16%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.70%	—

Volatility

Volatility by Period

	SPMV	JQUA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.19%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.82%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	11.57%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	15.66%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	18.01%	—

SPMV vs. JQUA - Expense Ratio Comparison

SPMV has a 0.10% expense ratio, which is lower than JQUA's 0.12% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SPMV vs. JQUA - Dividend Comparison

SPMV's dividend yield for the trailing twelve months is around 1.45%, more than JQUA's 1.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
JQUA JPMorgan U.S. Quality Factor ETF	1.10%	1.19%	1.24%	1.21%	1.60%	1.32%	1.44%	1.67%	2.10%	0.40%
SPMV Invesco S&P 500 Minimum Variance ETF	1.45%	1.53%	1.53%	2.28%	1.79%	1.28%	1.71%	3.13%	2.11%	1.72%

Frequently Asked Questions

Can I hold both SPMV and JQUA in my portfolio?

SPMV and JQUA have a correlation of 0.69, 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 JQUA?

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 JQUA?

SPMV is cheaper with a 0.10% expense ratio, compared with 0.12% for JQUA.

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

SPMV has the higher dividend yield at 1.45%, compared with 1.10% for JQUA.

What is the main difference between SPMV and JQUA?

SPMV is categorized as S&P 500, while JQUA is Large Cap Growth Equities. SPMV tracks S&P 500 Minimum Volatility Index, while JQUA tracks JP Morgan US Quality Factor Index. They also come from different issuers: Invesco and JPMorgan. Their fees differ too: 0.10% for SPMV and 0.12% for JQUA.