SPMV vs. TUSI

Last updated Jul 17, 2026

SPMV (Invesco S&P 500 Minimum Variance ETF) and TUSI (Touchstone Ultra Short Income ETF) are both exchange-traded funds - SPMV is a S&P 500 fund tracking the S&P 500 Minimum Volatility Index, while TUSI is a Ultrashort Bond fund actively managed by Touchstone. SPMV is passively managed, while TUSI is actively managed. At a 0.10 correlation, their price movements are largely independent. SPMV charges 0.10%/yr vs 0.25%/yr for TUSI.

Performance

SPMV vs. TUSI - Performance Comparison

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

Returns By Period

SPMV

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

TUSI

• 1D: 0.10%
• 1M: 0.31%
• 6M: 1.89%
• YTD: 2.05%
• 1Y: 4.44%
• 3Y*: 5.67%
• 5Y*: —
• 10Y*: —

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

SPMV vs. TUSI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SPMV Invesco S&P 500 Minimum Variance ETF	0.87%	11.69%	18.78%	10.28%	-3.61%
TUSI Touchstone Ultra Short Income ETF	2.05%	5.09%	6.51%	6.53%	0.84%

Correlation

The correlation between SPMV and TUSI is -0.08, 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	-0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (All Time) Calculated using the full available price history since Aug 8, 2022	0.10

The correlation between SPMV and TUSI shifts across timeframes, from -0.08 (1 year) to 0.10 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SPMV vs. TUSI — 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.

TUSI

TUSI Risk / Return Rank: 98
TUSI Sharpe Ratio Rank: 98
TUSI Sortino Ratio Rank: 98
TUSI Omega Ratio Rank: 98
TUSI Calmar Ratio Rank: 99
TUSI Martin Ratio Rank: 99

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. TUSI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Minimum Variance ETF (SPMV) and Touchstone Ultra Short Income ETF (TUSI). 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	TUSI	Difference
Sharpe ratio: Return per unit of total volatility	—	4.20	—
Sortino ratio: Return per unit of downside risk	—	7.06	—
Omega ratio: Gain probability vs. loss probability	—	2.03	—
Calmar ratio: Return relative to maximum drawdown	—	18.93	—
Martin ratio: Return relative to average drawdown	—	76.76	—

Drawdowns

Drawdown Indicators

	SPMV	TUSI	Difference
Max Drawdown Largest peak-to-trough decline	—	-0.40%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-0.24%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.39%	—
Current Drawdown Current decline from peak	—	-0.10%	—
Average Drawdown Average peak-to-trough decline	—	-0.04%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.06%	—

Volatility

Volatility by Period

	SPMV	TUSI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.31%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.72%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	1.06%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	0.97%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	0.97%	—

SPMV vs. TUSI - Expense Ratio Comparison

SPMV has a 0.10% expense ratio, which is lower than TUSI's 0.25% 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. TUSI - Dividend Comparison

SPMV has not paid dividends to shareholders, while TUSI's dividend yield for the trailing twelve months is around 4.57%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
TUSI Touchstone Ultra Short Income ETF	4.57%	4.85%	5.50%	5.41%	1.38%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPMV and TUSI in my portfolio?

SPMV and TUSI have a correlation of -0.08, 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 TUSI?

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 TUSI?

SPMV is cheaper with a 0.10% expense ratio, compared with 0.25% for TUSI.

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

TUSI has the higher dividend yield at 4.57%, compared with 1.05% for SPMV.

What is the main difference between SPMV and TUSI?

SPMV is categorized as S&P 500, while TUSI is Ultrashort Bond. They also come from different issuers: Invesco and Touchstone. Their fees differ too: 0.10% for SPMV and 0.25% for TUSI.