SPMV vs. RPG

Last updated Jun 4, 2026

SPMV (Invesco S&P 500 Minimum Variance ETF) and RPG (Invesco S&P 500 Pure Growth ETF) are both exchange-traded funds - SPMV is a S&P 500 fund tracking the S&P 500 Minimum Volatility Index, while RPG is a Large Cap Growth Equities fund tracking the S&P 500/Citigroup Pure Growth Index. Both are passively managed. A 0.69 correlation means they provide meaningful diversification when combined. SPMV charges 0.10%/yr vs 0.35%/yr for RPG.

Performance

SPMV vs. RPG - Performance Comparison

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

Returns By Period

SPMV

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

RPG

• 1D: 0.16%
• 1M: 11.54%
• YTD: 31.51%
• 6M: 32.14%
• 1Y: 41.04%
• 3Y*: 28.39%
• 5Y*: 13.02%
• 10Y*: 14.81%

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

SPMV vs. RPG - 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%
RPG Invesco S&P 500 Pure Growth ETF	31.51%	13.41%	28.23%	8.04%	-27.55%	29.40%	29.34%	28.34%	-4.53%	9.34%

Correlation

The correlation between SPMV and RPG is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (All Time) Calculated using the full available price history since Aug 25, 2017	0.69

The correlation between SPMV and RPG shifts across timeframes, from 0.54 (1 year) to 0.73 (5 years), reflecting how their relationship changes across market environments.

SPMV vs. RPG - Sectors Allocation Comparison

Sectors	SPMV	RPG
Technology	26.9%	39.6%
Financial Services	17.8%	5.2%
Healthcare	15.0%	7.0%
Consumer Defensive	10.7%	1.1%
Consumer Cyclical	6.6%	17.1%
Communication Services	6.5%	8.8%
Industrials	6.0%	17.6%
Energy	4.8%	1.4%
Utilities	2.8%	1.1%
Basic Materials	2.6%	1.5%
Real Estate	0.2%	1.1%

Return for Risk

SPMV vs. RPG — Risk / Return Rank

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

RPG

RPG Risk / Return Rank: 65
RPG Sharpe Ratio Rank: 61
RPG Sortino Ratio Rank: 59
RPG Omega Ratio Rank: 58
RPG Calmar Ratio Rank: 74
RPG Martin Ratio Rank: 76

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. RPG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Minimum Variance ETF (SPMV) and Invesco S&P 500 Pure Growth ETF (RPG). 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	RPG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.09	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.56	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.65	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.54	—

Drawdowns

Drawdown Indicators

	SPMV	RPG	Difference
Max Drawdown Largest peak-to-trough decline	—	-53.27%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-11.08%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-24.75%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-35.59%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-36.58%	—
Current Drawdown Current decline from peak	—	0.00%	—
Average Drawdown Average peak-to-trough decline	—	-8.84%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.83%	—

Volatility

Volatility by Period

	SPMV	RPG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.43%	—
Volatility (6M) Calculated over the trailing 6-month period	—	16.26%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	19.73%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	23.44%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	22.70%	—

SPMV vs. RPG - Expense Ratio Comparison

SPMV has a 0.10% expense ratio, which is lower than RPG's 0.35% expense ratio.

Dividends

SPMV vs. RPG - Dividend Comparison

SPMV's dividend yield for the trailing twelve months is around 1.45%, more than RPG's 0.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RPG Invesco S&P 500 Pure Growth ETF	0.17%	0.24%	0.25%	1.44%	0.74%	0.00%	0.46%	0.83%	0.47%	0.56%	0.43%	0.73%
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%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPMV and RPG in my portfolio?

SPMV and RPG have a correlation of 0.54, 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 RPG?

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 RPG?

SPMV is cheaper with a 0.10% expense ratio, compared with 0.35% for RPG.

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

SPMV has the higher dividend yield at 1.45%, compared with 0.17% for RPG.

What is the main difference between SPMV and RPG?

SPMV is categorized as S&P 500, while RPG is Large Cap Growth Equities. SPMV tracks S&P 500 Minimum Volatility Index, while RPG tracks S&P 500/Citigroup Pure Growth Index. Their fees differ too: 0.10% for SPMV and 0.35% for RPG.