SPVM vs. SPYV

Last updated Jun 4, 2026

SPVM (Invesco S&P 500 Value with Momentum ETF) and SPYV (SPDR Portfolio S&P 500 Value ETF) are both exchange-traded funds - SPVM is a Momentum fund tracking the S&P 500 High Momentum Value Index, while SPYV is a S&P 500 fund tracking the S&P 500 Value. Both are passively managed. Over the past 10 years, SPVM returned 11.89%/yr vs 11.90%/yr for SPYV. Their correlation of 0.84 suggests significant overlap in exposure. SPVM charges 0.39%/yr vs 0.04%/yr for SPYV.

Performance

SPVM vs. SPYV - 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 SPDR Portfolio S&P 500 Value ETF (SPYV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPVM achieves a 8.29% return, which is significantly higher than SPYV's 7.46% return. Both investments have delivered pretty close results over the past 10 years, with SPVM having a 11.89% annualized return and SPYV not far ahead at 11.90%.

SPVM

• 1D: -0.70%
• 1M: 3.16%
• YTD: 8.29%
• 6M: 10.61%
• 1Y: 28.06%
• 3Y*: 19.14%
• 5Y*: 10.09%
• 10Y*: 11.89%

SPYV

• 1D: -0.36%
• 1M: 2.22%
• YTD: 7.46%
• 6M: 7.77%
• 1Y: 21.26%
• 3Y*: 15.72%
• 5Y*: 10.68%
• 10Y*: 11.90%

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

SPVM vs. SPYV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPVM Invesco S&P 500 Value with Momentum ETF	8.29%	20.47%	15.64%	5.53%	-2.10%	28.86%	-3.18%	29.33%	-9.17%	14.70%
SPYV SPDR Portfolio S&P 500 Value ETF	7.46%	13.18%	12.24%	22.20%	-5.28%	24.91%	1.38%	31.70%	-9.01%	15.40%

Correlation

The correlation between SPVM and SPYV is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Jun 17, 2011	0.84

The correlation between SPVM and SPYV has been stable across timeframes, ranging from 0.84 to 0.89 - a consistent structural relationship.

SPVM vs. SPYV - Sectors Allocation Comparison

Sectors	SPVM	SPYV
Financial Services	37.0%	14.7%
Utilities	14.2%	4.4%
Energy	8.7%	7.4%
Communication Services	6.6%	3.2%
Consumer Cyclical	6.3%	10.9%
Healthcare	6.3%	11.6%
Technology	5.3%	21.2%
Consumer Defensive	4.9%	9.2%
Industrials	4.4%	10.6%
Real Estate	1.9%	3.3%
Basic Materials	1.8%	3.4%

Return for Risk

SPVM vs. SPYV — Risk / Return Rank

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

SPVM

SPVM Risk / Return Rank: 76
SPVM Sharpe Ratio Rank: 73
SPVM Sortino Ratio Rank: 76
SPVM Omega Ratio Rank: 69
SPVM Calmar Ratio Rank: 81
SPVM Martin Ratio Rank: 81

SPYV

SPYV Risk / Return Rank: 66
SPYV Sharpe Ratio Rank: 63
SPYV Sortino Ratio Rank: 64
SPYV Omega Ratio Rank: 63
SPYV Calmar Ratio Rank: 68
SPYV Martin Ratio Rank: 69

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. SPYV - 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 SPDR Portfolio S&P 500 Value ETF (SPYV). 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.

	SPVM	SPYV	Difference
Sharpe ratio Return per unit of total volatility	2.43	2.17	+0.25
Sortino ratio Return per unit of downside risk	3.47	3.05	+0.42
Omega ratio Gain probability vs. loss probability	1.42	1.39	+0.03
Calmar ratio Return relative to maximum drawdown	4.29	3.43	+0.86
Martin ratio Return relative to average drawdown	16.33	13.16	+3.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPVM vs. SPYV - Sharpe Ratio Comparison

The current SPVM Sharpe Ratio is 2.43, which is comparable to the SPYV Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of SPVM and SPYV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SPVM	SPYV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.43	2.17	+0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	0.75	-0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	0.70	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.42	+0.20

Drawdowns

SPVM vs. SPYV - Drawdown Comparison

The maximum SPVM drawdown since its inception was -45.35%, smaller than the maximum SPYV drawdown of -58.45%. Use the drawdown chart below to compare losses from any high point for SPVM and SPYV.

Drawdown Indicators

	SPVM	SPYV	Difference
Max Drawdown Largest peak-to-trough decline	-45.35%	-58.45%	+13.10%
Max Drawdown (1Y) Largest decline over 1 year	-6.57%	-6.22%	-0.35%
Max Drawdown (3Y) Largest decline over 3 years	-18.66%	-17.54%	-1.12%
Max Drawdown (5Y) Largest decline over 5 years	-19.48%	-17.89%	-1.59%
Max Drawdown (10Y) Largest decline over 10 years	-45.35%	-36.89%	-8.46%
Current Drawdown Current decline from peak	-0.70%	-0.57%	-0.13%
Average Drawdown Average peak-to-trough decline	-4.99%	-8.72%	+3.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.72%	1.62%	+0.10%

Volatility

SPVM vs. SPYV - Volatility Comparison

Invesco S&P 500 Value with Momentum ETF (SPVM) has a higher volatility of 2.79% compared to SPDR Portfolio S&P 500 Value ETF (SPYV) at 1.98%. This indicates that SPVM's price experiences larger fluctuations and is considered to be riskier than SPYV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPVM	SPYV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.79%	1.98%	+0.81%
Volatility (6M) Calculated over the trailing 6-month period	7.48%	7.04%	+0.44%
Volatility (1Y) Calculated over the trailing 1-year period	11.63%	9.84%	+1.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.77%	14.40%	+2.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.57%	16.94%	+2.63%

SPVM vs. SPYV - Expense Ratio Comparison

SPVM has a 0.39% expense ratio, which is higher than SPYV's 0.04% expense ratio.

Dividends

SPVM vs. SPYV - Dividend Comparison

SPVM's dividend yield for the trailing twelve months is around 1.91%, more than SPYV's 1.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPVM Invesco S&P 500 Value with Momentum ETF	1.91%	2.02%	1.91%	2.45%	2.33%	1.41%	2.11%	2.40%	3.10%	1.68%	2.80%	2.67%
SPYV SPDR Portfolio S&P 500 Value ETF	1.70%	1.77%	2.29%	1.75%	2.22%	2.10%	2.38%	2.25%	2.97%	2.77%	2.39%	2.53%

Frequently Asked Questions

Can I hold both SPVM and SPYV in my portfolio?

SPVM and SPYV have a correlation of 0.84, 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 SPYV?

SPVM has higher volatility (2.79%) compared to SPYV (1.98%). In terms of maximum drawdown, SPVM dropped -45.35% vs SPYV's -58.45%.

Which ETF is better, SPVM or SPYV?

On 10-year performance, SPYV leads with 11.90% vs 11.89% for SPVM. On fees, SPYV is cheaper at 0.04% per year. On volatility, SPYV has been the lower-risk option at 1.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPVM or SPYV?

Over the 10-year period, SPYV has performed better with a 11.90% return vs 11.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPVM or SPYV?

SPYV is cheaper with a 0.04% expense ratio, compared with 0.39% for SPVM.

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

SPVM has the higher dividend yield at 1.91%, compared with 1.70% for SPYV.

What is the main difference between SPVM and SPYV?

SPVM is categorized as Momentum, while SPYV is S&P 500. SPVM tracks S&P 500 High Momentum Value Index, while SPYV tracks S&P 500 Value. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.39% for SPVM and 0.04% for SPYV.

Which has better risk-adjusted returns?

SPVM currently has the higher Sharpe Ratio (2.43 vs 2.17), 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.