SPLV — Invesco S&P 500 Low Volatility ETF

SPLV Price Performance — Growth of $10,000

Value of a $10,000 investment in SPLV over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

SPLV Drawdown

The "underwater" chart: SPLV's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The Invesco S&P 500 Low Volatility ETF (SPLV) operates within the US Quality / Factor category, where ETFValuer tracks a total of 16 funds. Issued by Invesco, this fund holds an overall rank of #262 out of 458 tracked ETFs across all categories and carries an ETFValuer grade of C with a score of 58.3 out of 100. The fund manages $7.06 billion in assets while trading at a price of $76.36, reflecting significant investor adoption relative to its category peers. Investors receive a dividend yield of 2.14% against an expense ratio of 0.25%. The substantial asset base and moderate yield suggest the fund has established a presence despite its mid-tier ranking. Its cost structure sits at a standard level for factor-based strategies within the broader market. The combination of high assets under management and a C grade indicates a fund that is widely held but faces challenges in achieving top-tier performance metrics.

Over the most recent trading day, the fund posted a gain of +0.21% before retreating to a -0.57% loss over the one-week period. Monthly returns accelerated to +3.09%, followed by a stronger +4.98% gain over three months and a +5.80% increase over six months. Year-to-date performance reached +8.63%, while the one-year return stands at +6.00%, showing a divergence between recent short-term momentum and the trailing annual figure. The three-year return totals +28.35%, indicating a longer-term accumulation of value that exceeds the one-year trajectory. This pattern suggests the fund experienced a period of deceleration in the most recent year compared to its three-year average. The data points to a recovery in momentum over the six-month horizon that has not yet fully translated into a higher one-year return figure.

SPLV carries a volatility label of Low and a beta of 0.37, indicating that the fund moves significantly less than the broader market. This low sensitivity is reflected in a maximum drawdown of -9.56% during the measured period. Despite the reduced volatility, the Sharpe ratio is recorded at 0.09, suggesting that the risk-adjusted returns have been modest relative to the volatility taken. The combination of a low beta and a low Sharpe ratio implies that while the fund successfully limits downside movement, it may also limit upside potential during market rallies. The maximum drawdown of -9.56% confirms that even with a low volatility profile, the fund is not immune to significant declines. These metrics collectively describe a defensive instrument that prioritizes capital preservation over aggressive growth or high risk-adjusted efficiency.

AI-generated summary based on the data on this page.

SPLV Top Holdings

Holdings as of 2026-02-28 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 13.7% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how SPLV's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With SPLV

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with SPLV's top 10 — SDY overlaps most, holding 2 of the same companies as SPLV's top 10 (2.6% of SPLV's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.71% (as of 2026-07-23) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 18.70 (as of 2026-07-23) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

SPLV Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 0.14% and average daily volume is 2.5M/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $7.06B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: SPLV is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

SPLV Performance History

How SPLV Compares to Other US Quality / Factor ETFs