SPVM vs. SPMV

Last updated Jun 25, 2026

SPVM (Invesco S&P 500 Value with Momentum ETF) and SPMV (Invesco S&P 500 Minimum Variance ETF) are both exchange-traded funds - SPVM is a Momentum fund tracking the S&P 500 High Momentum Value Index, while SPMV is a S&P 500 fund tracking the S&P 500 Minimum Volatility Index. Both are passively managed. A 0.65 correlation means they provide meaningful diversification when combined. SPVM charges 0.39%/yr vs 0.10%/yr for SPMV.

Performance

SPVM vs. SPMV - 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 Minimum Variance ETF (SPMV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SPVM

• 1D: 0.31%
• 1M: 2.93%
• YTD: 10.28%
• 6M: 8.91%
• 1Y: 28.46%
• 3Y*: 19.37%
• 5Y*: 11.00%
• 10Y*: 12.38%

SPMV

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

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

SPVM vs. SPMV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPVM Invesco S&P 500 Value with Momentum ETF	10.28%	20.47%	15.64%	5.53%	-2.10%	28.86%	-3.18%	29.33%	-9.17%	8.32%
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%

Correlation

The correlation between SPVM and SPMV is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (All Time) Calculated using the full available price history since Aug 24, 2017	0.65

The correlation between SPVM and SPMV shifts across timeframes, from 0.55 (1 year) to 0.70 (5 years), reflecting how their relationship changes across market environments.

SPVM vs. SPMV - Sectors Allocation Comparison

Sectors	SPVM	SPMV
Financial Services	36.0%	17.8%
Utilities	13.8%	2.8%
Energy	8.6%	4.8%
Consumer Defensive	7.6%	10.7%
Consumer Cyclical	6.8%	6.6%
Communication Services	6.6%	6.5%
Technology	6.2%	26.9%
Healthcare	6.2%	15.0%
Industrials	4.5%	6.0%
Basic Materials	1.9%	2.6%
Real Estate	1.9%	0.2%

Return for Risk

SPVM vs. SPMV — Risk / Return Rank

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

SPVM

SPVM Risk / Return Rank: 85
SPVM Sharpe Ratio Rank: 85
SPVM Sortino Ratio Rank: 88
SPVM Omega Ratio Rank: 81
SPVM Calmar Ratio Rank: 86
SPVM Martin Ratio Rank: 87

SPMV

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

SPVM vs. SPMV - 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 Minimum Variance ETF (SPMV). 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	SPMV	Difference
Sharpe ratio: Return per unit of total volatility	2.47	—	—
Sortino ratio: Return per unit of downside risk	3.54	—	—
Omega ratio: Gain probability vs. loss probability	1.43	—	—
Calmar ratio: Return relative to maximum drawdown	4.35	—	—
Martin ratio: Return relative to average drawdown	16.50	—	—

Drawdowns

Drawdown Indicators

	SPVM	SPMV	Difference
Max Drawdown Largest peak-to-trough decline	-45.35%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-6.57%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-18.66%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-19.48%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-45.35%	—	—
Current Drawdown Current decline from peak	-0.56%	—	—
Average Drawdown Average peak-to-trough decline	-4.97%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.73%	—	—

Volatility

Volatility by Period

	SPVM	SPMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.14%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.71%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	11.58%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.74%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.55%	—	—

SPVM vs. SPMV - Expense Ratio Comparison

SPVM has a 0.39% expense ratio, which is higher than SPMV's 0.10% expense ratio.

Dividends

SPVM vs. SPMV - Dividend Comparison

SPVM's dividend yield for the trailing twelve months is around 2.01%, while SPMV has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%
SPVM Invesco S&P 500 Value with Momentum ETF	2.01%	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 SPMV in my portfolio?

SPVM and SPMV have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPVM or SPMV?

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, SPVM or SPMV?

SPMV is cheaper with a 0.10% expense ratio, compared with 0.39% for SPVM.

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

SPVM has the higher dividend yield at 2.01%, compared with 1.05% for SPMV.

What is the main difference between SPVM and SPMV?

SPVM is categorized as Momentum, while SPMV is S&P 500. SPVM tracks S&P 500 High Momentum Value Index, while SPMV tracks S&P 500 Minimum Volatility Index. Their fees differ too: 0.39% for SPVM and 0.10% for SPMV.