QVML vs SPY
QVML vs SPY
Invesco S&P 500 QVM Multi-factor ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. QVML delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | QVML | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.11% | 0.09% | |
| AUM | $1.5B | $789.1B | |
| Dividend Yield | 1.01% | 1.01% | |
| Holdings | 451 | 505 | |
| YTD Return | +12.72% | +11.49% | |
| 1Y Return | +22.61% | +21.37% | |
| 3Y Return (annualized) | +21.29% | +20.76% | |
| 5Y Return (annualized) | +13.25% | +12.94% | |
| Volatility (annualized) | 15.3% | 15.3% | |
| Max Drawdown | -23.5% | -56.5% | |
| Fund Family | Invesco (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jun 28, 2021 | Jan 22, 1993 |
QVML vs SPY Performance
Invesco S&P 500 QVM Multi-factor ETF (QVML) is a ETF from Invesco (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year QVML returned +22.61% while SPY returned +21.37%. Year to date, QVML is up 12.72% versus a gain of 11.49% for SPY.
Over three years, QVML compounded at +21.29% per year against +20.76% for SPY; over five years the annualized figures are +13.25% and +12.94% respectively. Across the full 5-year window we track, QVML has the edge at +13.63% annualized vs +8.78%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QVML has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -23.5% for QVML and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.99. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
QVML charges 0.11% per year while SPY charges 0.09%. On a $10,000 position that is $11 vs $9 annually, a gap of $2 per year that compounds over a long holding period. On income, QVML currently yields 1.01% against 1.01% for SPY.
Holdings Overlap
QVML and SPY share 435 holdings out of 515 unique holdings combined, representing a 83.5% weight overlap.
High overlap means holding both may not provide much additional diversification.
Top Shared Holdings
| Stock | Weight in QVML | Weight in SPY | Difference |
|---|---|---|---|
| NVDA | 8.14% | 7.31% | 0.83% |
| AAPL | 7.23% | 7.09% | 0.14% |
| GOOG | 6.46% | 2.66% | 3.80% |
| MSFT | Pro | Pro | Pro |
| AMZN | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| MU | Pro | Pro | Pro |
| LLY | Pro | Pro | Pro |
| JPM | Pro | Pro | Pro |
See all 10 holdings QVML shares with SPY Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, QVML or SPY?
QVML has an expense ratio of 0.11% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $2 per year of difference.
Which performed better, QVML or SPY?
Over the past year QVML returned +22.61% vs +21.37% for SPY, so QVML leads on 1-year performance. Over the longest common window we track (5 years), QVML annualized +13.63% vs +8.78% for SPY. Past performance does not guarantee future results.
Which is riskier, QVML or SPY?
QVML has been the more volatile fund at 15.3% annualized versus 15.3% for SPY. Worst drawdown: QVML -23.5% vs SPY -56.5%.
Should I hold both QVML and SPY?
QVML and SPY have a monthly-return correlation of 0.99, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between QVML and SPY?
QVML and SPY share 435 common holdings with a 83.5% weight overlap. Combined, they hold 515 unique securities.
Which pays a higher dividend, QVML or SPY?
QVML yields 1.01% while SPY yields 1.01%, so QVML currently pays the higher dividend yield.
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