SPMV vs. PBFR

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco S&P 500 Minimum Variance ETF (SPMV) and PGIM Laddered S&P 500 Buffer 20 ETF (PBFR).

SPMV and PBFR are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPMV is a passively managed fund by Invesco that tracks the performance of the S&P 500 Minimum Volatility Index. It was launched on Jul 13, 2017. PBFR is an actively managed fund by PGIM. It was launched on Jun 11, 2024.

Performance

SPMV vs. PBFR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Minimum Variance ETF (SPMV) and PGIM Laddered S&P 500 Buffer 20 ETF (PBFR). The values are adjusted to include any dividend payments, if applicable.

SPMV vs. PBFR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SPMV Invesco S&P 500 Minimum Variance ETF	0.87%	11.69%	6.14%
PBFR PGIM Laddered S&P 500 Buffer 20 ETF	-0.75%	10.44%	5.53%

Returns By Period

SPMV

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

PBFR

• 1D: 1.19%
• 1M: -1.46%
• YTD: -0.75%
• 6M: 1.42%
• 1Y: 10.89%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPMV vs. PBFR - Expense Ratio Comparison

SPMV has a 0.10% expense ratio, which is lower than PBFR's 0.50% expense ratio.

PBFR

PGIM Laddered S&P 500 Buffer 20 ETF

SPMV

Invesco S&P 500 Minimum Variance ETF

Return for Risk

SPMV vs. PBFR — Risk / Return Rank

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

PBFR

PBFR Risk / Return Rank: 79
PBFR Sharpe Ratio Rank: 73
PBFR Sortino Ratio Rank: 77
PBFR Omega Ratio Rank: 86
PBFR Calmar Ratio Rank: 71
PBFR Martin Ratio Rank: 87

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. PBFR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Minimum Variance ETF (SPMV) and PGIM Laddered S&P 500 Buffer 20 ETF (PBFR). 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	PBFR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.34	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	1.20	—

Correlation

The correlation between SPMV and PBFR is 0.74, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

SPMV vs. PBFR - Dividend Comparison

SPMV's dividend yield for the trailing twelve months is around 1.45%, more than PBFR's 0.01% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
PBFR PGIM Laddered S&P 500 Buffer 20 ETF	0.01%	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

Drawdown Indicators

	SPMV	PBFR	Difference
Max Drawdown Largest peak-to-trough decline	—	-8.50%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-6.15%	—
Current Drawdown Current decline from peak	—	-1.56%	—
Average Drawdown Average peak-to-trough decline	—	-0.68%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.04%	—

Volatility

Volatility by Period

	SPMV	PBFR	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.42%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.46%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	8.18%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	7.13%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	7.13%	—