SPMV vs. OOSP

Last updated Jun 24, 2026

SPMV (Invesco S&P 500 Minimum Variance ETF) and OOSP (Obra Opportunistic Structured Products ETF) are both exchange-traded funds - SPMV is a S&P 500 fund tracking the S&P 500 Minimum Volatility Index, while OOSP is a Multisector Bonds fund actively managed by Obra. SPMV is passively managed, while OOSP is actively managed. At a correlation of -0.03, they often move in opposite directions. SPMV charges 0.10%/yr vs 0.90%/yr for OOSP.

Performance

SPMV vs. OOSP - Performance Comparison

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

Returns By Period

SPMV

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

OOSP

• 1D: 0.00%
• 1M: 0.36%
• YTD: 2.66%
• 6M: 2.82%
• 1Y: 6.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPMV vs. OOSP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SPMV Invesco S&P 500 Minimum Variance ETF	0.87%	11.69%	10.08%
OOSP Obra Opportunistic Structured Products ETF	2.66%	7.41%	6.27%

Correlation

The correlation between SPMV and OOSP is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.05
Correlation (All Time) Calculated using the full available price history since Apr 10, 2024	-0.03

Return for Risk

SPMV vs. OOSP — 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.

OOSP

OOSP Risk / Return Rank: 72
OOSP Sharpe Ratio Rank: 57
OOSP Sortino Ratio Rank: 59
OOSP Omega Ratio Rank: 67
OOSP Calmar Ratio Rank: 89
OOSP Martin Ratio Rank: 88

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. OOSP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Minimum Variance ETF (SPMV) and Obra Opportunistic Structured Products ETF (OOSP). 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	OOSP	Difference
Sharpe ratio: Return per unit of total volatility	—	1.79	—
Sortino ratio: Return per unit of downside risk	—	2.60	—
Omega ratio: Gain probability vs. loss probability	—	1.38	—
Calmar ratio: Return relative to maximum drawdown	—	4.97	—
Martin ratio: Return relative to average drawdown	—	18.41	—

Drawdowns

Drawdown Indicators

	SPMV	OOSP	Difference
Max Drawdown Largest peak-to-trough decline	—	-1.31%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-1.31%	—
Current Drawdown Current decline from peak	—	0.00%	—
Average Drawdown Average peak-to-trough decline	—	-0.20%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.35%	—

Volatility

Volatility by Period

	SPMV	OOSP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.39%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.17%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	3.65%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	3.32%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	3.32%	—

SPMV vs. OOSP - Expense Ratio Comparison

SPMV has a 0.10% expense ratio, which is lower than OOSP's 0.90% expense ratio.

Dividends

SPMV vs. OOSP - Dividend Comparison

SPMV has not paid dividends to shareholders, while OOSP's dividend yield for the trailing twelve months is around 6.45%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
OOSP Obra Opportunistic Structured Products ETF	6.45%	6.71%	5.42%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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%

Frequently Asked Questions

Can I hold both SPMV and OOSP in my portfolio?

SPMV and OOSP have a correlation of -0.05, 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 OOSP?

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 OOSP?

SPMV is cheaper with a 0.10% expense ratio, compared with 0.90% for OOSP.

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

OOSP has the higher dividend yield at 6.45%, compared with 1.05% for SPMV.

What is the main difference between SPMV and OOSP?

SPMV is categorized as S&P 500, while OOSP is Multisector Bonds. They also come from different issuers: Invesco and Obra. Their fees differ too: 0.10% for SPMV and 0.90% for OOSP.