SPMV vs. LGLV

Last updated Jul 14, 2026

SPMV (Invesco S&P 500 Minimum Variance ETF) and LGLV (SPDR SSGA US Large Cap Low Volatility Index ETF) are both exchange-traded funds - SPMV is a S&P 500 fund tracking the S&P 500 Minimum Volatility Index, while LGLV is a Volatility Hedged Equity fund tracking the State Street U.S. Large Cap Low Volatility Index. Both are passively managed. A 0.79 correlation means they provide meaningful diversification when combined. SPMV charges 0.10%/yr vs 0.12%/yr for LGLV.

Performance

SPMV vs. LGLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Minimum Variance ETF (SPMV) and SPDR SSGA US Large Cap Low Volatility Index ETF (LGLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SPMV

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

LGLV

• 1D: 0.66%
• 1M: 2.56%
• 6M: 4.07%
• YTD: 6.57%
• 1Y: 8.59%
• 3Y*: 11.89%
• 5Y*: 8.45%
• 10Y*: 11.11%

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

SPMV vs. LGLV - 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%
LGLV SPDR SSGA US Large Cap Low Volatility Index ETF	6.57%	8.37%	16.22%	9.19%	-8.17%	27.95%	7.42%	30.83%	0.32%	7.36%

Correlation

The correlation between SPMV and LGLV is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.73
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 LGLV has dropped to 0.48 - well below their long-term average of 0.79, suggesting their price drivers have been diverging.

SPMV vs. LGLV - Sectors Allocation Comparison

Sectors	SPMV	LGLV
Technology	26.9%	9.4%
Financial Services	17.8%	9.9%
Healthcare	15.0%	7.1%
Consumer Defensive	10.7%	5.8%
Consumer Cyclical	6.6%	9.1%
Communication Services	6.5%	4.3%
Industrials	6.0%	18.4%
Energy	4.8%	3.5%
Utilities	2.8%	11.6%
Basic Materials	2.6%	3.5%
Real Estate	0.2%	17.6%

Return for Risk

SPMV vs. LGLV — 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.

LGLV

LGLV Risk / Return Rank: 29
LGLV Sharpe Ratio Rank: 30
LGLV Sortino Ratio Rank: 30
LGLV Omega Ratio Rank: 27
LGLV Calmar Ratio Rank: 31
LGLV Martin Ratio Rank: 27

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. LGLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Minimum Variance ETF (SPMV) and SPDR SSGA US Large Cap Low Volatility Index ETF (LGLV). 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	LGLV	Difference
Sharpe ratio: Return per unit of total volatility	—	0.88	—
Sortino ratio: Return per unit of downside risk	—	1.34	—
Omega ratio: Gain probability vs. loss probability	—	1.15	—
Calmar ratio: Return relative to maximum drawdown	—	1.26	—
Martin ratio: Return relative to average drawdown	—	2.92	—

Drawdowns

Drawdown Indicators

	SPMV	LGLV	Difference
Max Drawdown Largest peak-to-trough decline	—	-36.64%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-6.86%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-10.17%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.49%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-36.64%	—
Current Drawdown Current decline from peak	—	-1.28%	—
Average Drawdown Average peak-to-trough decline	—	-3.22%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.94%	—

Volatility

Volatility by Period

	SPMV	LGLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.62%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.34%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	9.79%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	12.98%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	16.06%	—

SPMV vs. LGLV - Expense Ratio Comparison

SPMV has a 0.10% expense ratio, which is lower than LGLV'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. LGLV - Dividend Comparison

SPMV has not paid dividends to shareholders, while LGLV's dividend yield for the trailing twelve months is around 2.01%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LGLV SPDR SSGA US Large Cap Low Volatility Index ETF	2.01%	1.94%	1.93%	2.03%	1.95%	1.65%	1.98%	1.89%	2.09%	4.39%	2.54%	2.97%
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%	0.00%

Frequently Asked Questions

Can I hold both SPMV and LGLV in my portfolio?

SPMV and LGLV have a correlation of 0.48, 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 LGLV?

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 LGLV?

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

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

LGLV has the higher dividend yield at 2.01%, compared with 1.05% for SPMV.

What is the main difference between SPMV and LGLV?

SPMV is categorized as S&P 500, while LGLV is Volatility Hedged Equity. SPMV tracks S&P 500 Minimum Volatility Index, while LGLV tracks State Street U.S. Large Cap Low Volatility Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.10% for SPMV and 0.12% for LGLV.