SPVM vs. RPV

Last updated Aug 2, 2026

SPVM (Invesco S&P 500 Value with Momentum ETF) and RPV (Invesco S&P 500® Pure Value ETF) are both exchange-traded funds - SPVM is a Momentum fund tracking the S&P 500 High Momentum Value Index, while RPV is a Large Cap Value Equities fund tracking the S&P 500 Pure Value Index. Both are passively managed. Over the past 10 years, SPVM returned 12.30%/yr vs 11.15%/yr for RPV. Their correlation of 0.85 means they have usually moved in the same direction. SPVM charges 0.39%/yr vs 0.35%/yr for RPV.

Performance

SPVM vs. RPV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Value with Momentum ETF (SPVM) and Invesco S&P 500® Pure Value ETF (RPV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPVM achieves a 15.18% return, which is significantly lower than RPV's 16.52% return. Over the past 10 years, SPVM has outperformed RPV with an annualized return of 12.30%, while RPV has yielded a comparatively lower 11.15% annualized return.

SPVM

• 1D: -0.22%
• 1M: 2.32%
• 6M: 11.82%
• YTD: 15.18%
• 1Y: 30.48%
• 3Y*: 18.09%
• 5Y*: 12.07%
• 10Y*: 12.30%
• ALL TIME*: 12.00%

RPV

• 1D: -0.36%
• 1M: 2.75%
• 6M: 12.21%
• YTD: 16.52%
• 1Y: 34.20%
• 3Y*: 16.76%
• 5Y*: 12.24%
• 10Y*: 11.15%
• ALL TIME*: 9.47%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
RPV Invesco S&P 500® Pure Value ETF	$14.78M	$14.37M	$15.41M
SPVM Invesco S&P 500 Value with Momentum ETF	$1.04M	$1.14M	$1.20M

SPVM vs. RPV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPVM Invesco S&P 500 Value with Momentum ETF	15.18%	20.47%	15.64%	5.53%	-2.10%	28.86%	-3.18%	29.33%	-9.17%	14.70%
RPV Invesco S&P 500® Pure Value ETF	16.52%	17.70%	12.41%	7.98%	-1.27%	34.22%	-8.69%	24.80%	-12.31%	17.30%

Correlation

The correlation between SPVM and RPV is 0.86, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.86
Correlation (3Y) Balances recent behavior with more history.	0.89
Correlation (5Y) Shows whether the relationship held over a longer period.	0.91
Correlation (10Y) Provides a long-term view across more market conditions.	0.90
Correlation (All Time) Calculated using the full available price history since Jun 16, 2011	0.85

The correlation between SPVM and RPV has been stable across timeframes, ranging from 0.85 to 0.91 - a consistent structural relationship.

SPVM vs. RPV - Sectors Allocation Comparison

Sectors	SPVM	RPV
Financial Services	36.8%	18.8%
Utilities	13.4%	4.1%
Energy	11.8%	9.6%
Industrials	9.4%	7.3%
Healthcare	8.6%	18.3%
Technology	6.2%	3.4%
Consumer Defensive	4.7%	13.0%
Consumer Cyclical	3.7%	11.4%
Basic Materials	3.5%	7.5%
Communication Services	2.7%	5.2%
Real Estate	2.1%	1.6%

Return for Risk

SPVM vs. RPV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SPVM

SPVM Risk / Return Rank: 93
SPVM Sharpe Ratio Rank: 94
SPVM Sortino Ratio Rank: 94
SPVM Omega Ratio Rank: 92
SPVM Calmar Ratio Rank: 93
SPVM Martin Ratio Rank: 93

RPV

RPV Risk / Return Rank: 93
RPV Sharpe Ratio Rank: 94
RPV Sortino Ratio Rank: 94
RPV Omega Ratio Rank: 92
RPV Calmar Ratio Rank: 92
RPV Martin Ratio Rank: 92

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SPVM vs. RPV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Value with Momentum ETF (SPVM) and Invesco S&P 500® Pure Value ETF (RPV). 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.

	SPVM	RPV	Difference
Sharpe ratio: Return per unit of total volatility	2.58	2.63	-0.05
Sortino ratio: Return per unit of downside risk	3.73	3.77	-0.04
Omega ratio: Gain probability vs. loss probability	1.45	1.45	0.00
Calmar ratio: Return relative to maximum drawdown	4.47	4.23	+0.23
Martin ratio: Return relative to average drawdown	17.23	15.58	+1.65

SPVM vs. RPV - Sharpe Ratio Comparison

The current SPVM Sharpe Ratio is 2.58, which is comparable to the RPV Sharpe Ratio of 2.63. The chart below compares the historical Sharpe Ratios of SPVM and RPV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SPVM vs. RPV - Drawdown Comparison

The maximum SPVM drawdown since its inception was -45.35%, smaller than the maximum RPV drawdown of -75.32%. Use the drawdown chart below to compare losses from any high point for SPVM and RPV.

Drawdown Indicators

	SPVM	RPV	Difference
Max Drawdown Largest peak-to-trough decline	-45.35%	-75.32%	+29.97%
Max Drawdown (1Y) Largest decline over 1 year	-6.57%	-7.74%	+1.17%
Max Drawdown (3Y) Largest decline over 3 years	-18.66%	-14.90%	-3.76%
Max Drawdown (5Y) Largest decline over 5 years	-19.48%	-22.64%	+3.16%
Max Drawdown (10Y) Largest decline over 10 years	-45.35%	-50.67%	+5.32%
Current Drawdown Current decline from peak	-1.34%	-1.82%	+0.48%
Average Drawdown Average peak-to-trough decline	-4.94%	-10.61%	+5.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.70%	2.10%	-0.40%

Volatility

SPVM vs. RPV - Volatility Comparison

Invesco S&P 500 Value with Momentum ETF (SPVM) and Invesco S&P 500® Pure Value ETF (RPV) have volatilities of 3.18% and 3.12%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPVM	RPV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.18%	3.12%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	7.72%	8.20%	-0.48%
Volatility (1Y) Calculated over the trailing 1-year period	11.40%	12.50%	-1.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.57%	17.60%	-1.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.51%	21.80%	-2.29%

SPVM vs. RPV - Expense Ratio Comparison

SPVM has a 0.39% expense ratio, which is higher than RPV's 0.35% expense ratio.

Dividends

SPVM vs. RPV - Dividend Comparison

SPVM's dividend yield for the trailing twelve months is around 1.92%, less than RPV's 2.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RPV Invesco S&P 500® Pure Value ETF	2.28%	2.50%	2.16%	2.38%	2.29%	1.92%	2.11%	2.28%	2.49%	1.73%	1.73%	2.39%
SPVM Invesco S&P 500 Value with Momentum ETF	1.92%	2.02%	1.91%	2.45%	2.33%	1.41%	2.11%	2.40%	3.10%	1.68%	2.80%	2.67%

Frequently Asked Questions

Can I hold both SPVM and RPV in my portfolio?

SPVM and RPV have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPVM or RPV?

SPVM has higher volatility (3.18%) compared to RPV (3.12%). In terms of maximum drawdown, SPVM dropped -45.35% vs RPV's -75.32%.

Which ETF is better, SPVM or RPV?

On 10-year performance, SPVM leads with 12.30% vs 11.15% for RPV. On fees, RPV is cheaper at 0.35% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPVM or RPV?

Over the 10-year period, SPVM has performed better with a 12.30% return vs 11.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPVM or RPV?

RPV is cheaper with a 0.35% expense ratio, compared with 0.39% for SPVM.

Which ETF pays a higher dividend yield, SPVM or RPV?

RPV has the higher dividend yield at 2.28%, compared with 1.92% for SPVM.

What is the main difference between SPVM and RPV?

SPVM is categorized as Momentum, while RPV is Large Cap Value Equities. SPVM tracks S&P 500 High Momentum Value Index, while RPV tracks S&P 500 Pure Value Index. Their fees differ too: 0.39% for SPVM and 0.35% for RPV.

Which has better risk-adjusted returns?

RPV currently has the higher Sharpe Ratio (2.63 vs 2.58), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.