SPMV - Invesco S&P 500 Minimum Variance ETF

Equity - US Equity

Product Details

The Invesco S&P 500 Minimum Variance ETF (the "Fund") is based on the S&P 500® Minimum Volatility Index (the "Index"). The fund will invest at least 90% of its total assets in securities that comprise the index. The index employs a managed-volatility methodology that seeks to achieve lower total risk than the S&P 500 Index, while maintaining similar characteristics. Volatility is a statistical measurement of the magnitude of up and down asset price fluctuations over time. The fund and the index are rebalanced and reconstituted semi-annually.

as of 09/30/2019

Factor DNATM

Factor score methodology

Factor scores are calculated for every stock within the starting universe, Russell 3000 Index and Russell Global ex-US Index. Factor scores are normalized using z-scores with a mean of zero and a standard deviation of one. A normalized score is then calculated for both the fund and index shown based on the weighted average normalized scores of their underlying stocks. The Factor DNATM chart plots the difference in the fund's normalized score for each factor, in standard deviations, relative to the index shown with a range of -1.5 to 1.5. The index shown serves as the baseline and is plotted at zero.

See notes below for factor definitions.

Try the Factor eXposure Tool
Factor definitions

Low volatility – Annualized 252-day standard deviation of the stock's price. Lower standard deviations receive a higher factor exposure score. Dividend yield – Total dividends paid by the stock over the past 12 months divided by its current price. Quality – Each fundamental ratio is standardized using a z-score relative to its universe before averaging (return on equity - accruals ratio - debt to common equity) / three. Value – Each fundamental ratio is standardized using a z-score relative to its universe before averaging (earnings/price + book value/price + sales/price) / three. Momentum – 12-month return excluding the most recent month. The return is risk adjusted using the standard deviation of daily price returns over the past year. Small size – Stock's market capitalization in USD. Lower market capitalization companies receive a higher factor exposure score.

as of 09/30/2019

Factor DNATM

Factor score methodology

Factor scores are calculated for every stock within the starting universe, Russell 3000 Index and Russell Global ex-US Index. Factor scores are normalized using z-scores with a mean of zero and a standard deviation of one. A normalized score is then calculated for both the fund and index shown based on the weighted average normalized scores of their underlying stocks. The Factor DNATM chart plots the difference in the fund's normalized score for each factor, in standard deviations, relative to the index shown with a range of -1.5 to 1.5. The index shown serves as the baseline and is plotted at zero.

See notes below for factor definitions.

Try the Factor eXposure Tool
Factor definitions

Low volatility – Annualized 252-day standard deviation of the stock's price. Lower standard deviations receive a higher factor exposure score. Dividend yield – Total dividends paid by the stock over the past 12 months divided by its current price. Quality – Each fundamental ratio is standardized using a z-score relative to its universe before averaging (return on equity - accruals ratio - debt to common equity) / three. Value – Each fundamental ratio is standardized using a z-score relative to its universe before averaging (earnings/price + book value/price + sales/price) / three. Momentum – 12-month return excluding the most recent month. The return is risk adjusted using the standard deviation of daily price returns over the past year. Small size – Stock's market capitalization in USD. Lower market capitalization companies receive a higher factor exposure score.

as of 10/31/2019 09/30/2019

Performance

  YTD 1Yr 3Yr 5Yr 10Yr Since Inception
Index History (%)
S&P 500 Minimum Volatility Index 24.84 16.20 12.68 11.42 N/A 12.79
S&P 500 Index 23.16 14.33 14.91 10.78 13.70 12.02
Fund History (%)
Fund NAV 24.16 15.51 N/A N/A N/A 12.52
After Tax Held 23.61 14.23 N/A N/A N/A 11.62
After Tax Sold 14.29 9.47 N/A N/A N/A 9.46
Fund Market Price 24.63 15.24 N/A N/A N/A 12.43
  YTD 1Yr 3Yr 5Yr 10Yr Since Inception
Index History (%)
S&P 500 Minimum Volatility Index 24.40 9.64 11.79 12.10 N/A 13.12
S&P 500 Index 20.55 4.25 13.39 10.84 13.24 11.41
Fund History (%)
Fund NAV 23.71 8.96 N/A N/A N/A 12.83
After Tax Held 23.17 7.76 N/A N/A N/A 11.90
After Tax Sold 14.02 5.59 N/A N/A N/A 9.69
Fund Market Price 24.35 9.04 N/A N/A N/A 12.81

Market returns are based on the midpoint of the bid/ask spread at 4 p.m. ET and do not represent the returns an investor would receive if shares were traded at other times. Performance data quoted represents past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than performance data quoted. After-tax returns reflect the highest federal income tax rate but exclude state and local taxes. Fund performance reflects applicable fee waivers, absent which, performance data quoted would have been lower. After Tax Held and After Tax Sold are based on NAV. Returns less than one year are cumulative.

as of 09/30/2019

Growth of $10,000

Data beginning Fund inception and ending 09/30/2019. Fund performance shown at NAV.

An investor cannot invest directly in an index. The results assume that no cash was added to or assets withdrawn from the Index. Index returns do not represent Fund returns. The Index does not charge management fees or brokerage expenses, nor does the Index lend securities, and no revenues from securities lending were added to the performance shown.

as of 11/20/2019

Sector Allocation

Sector Percent of Fund
Information Technology 17.60%
Consumer Discretionary 14.46%
Health Care 13.81%
Consumer Staples 12.46%
Financials 11.01%
Utilities 8.46%
Industrials 8.00%
Communication Services 4.95%
Real Estate 4.78%
Energy 2.87%
Materials 1.61%
as of 11/20/2019

Market Cap & Style Allocations

Large-Cap Value 28.32%
Large-Cap Blend 38.88%
Large-Cap Growth 23.02%
Mid-Cap Value 6.99%
Mid-Cap Blend 1.87%
Mid-Cap Growth 0.93%
Small-Cap Value -
Small-Cap Blend -
Small-Cap Growth -

as of 11/20/2019 Top Holdings | View All

Fund Holdings subject to change

Ticker Company % of Fund
UNH UnitedHealth Group Inc 2.33
CVS CVS Health Corp 2.30
MSFT Microsoft Corp 2.15
MMC Marsh & McLennan Cos Inc 2.04
WM Waste Management Inc 1.98
ADBE Adobe Inc 1.94
QCOM QUALCOMM Inc 1.92
NKE NIKE Inc 1.90
AMZN Amazon.com Inc 1.90
JPM JPMorgan Chase & Co 1.89

Distributions | HideView All | Distribution Information

Ex-Date Record Date Pay Date $/
Share
Ordinary Income Short Term Gains Long Term Gains Return of Capital
09/23/2019 09/24/2019 09/30/2019 0.05624 0.05624 - - -
06/24/2019 06/25/2019 06/28/2019 0.14654 0.14654 - - -
03/18/2019 03/19/2019 03/29/2019 0.11489 0.11489 - - -
12/26/2018 12/27/2018 12/31/2018 - - 0.01473 0.51154 -
12/24/2018 12/26/2018 12/31/2018 0.15833 0.15833 - - -
09/24/2018 09/25/2018 09/28/2018 0.13075 0.13075 - - -
06/18/2018 06/19/2018 06/29/2018 0.13182 0.13182 - - -
03/19/2018 03/20/2018 03/29/2018 0.08953 0.08953 - - -
12/18/2017 12/19/2017 12/29/2017 0.38829 0.38829 - - -
09/18/2017 09/19/2017 09/29/2017 0.07768 0.07768 - - -

Frequency Distribution of Discounts & Premiums

    Bid/Ask MidPoint Above NAV
Quarter
Ending
Days 0.00-
0.25%
0.26-
0.50%
0.51-
0.99%
1.00-
1.49%
1.50-
1.99%
≥2.00%
09/30/2019 64 39 0 0 0 0 0
03/31/2019 61 24 0 0 0 0 0
12/31/2018 63 41 1 0 0 0 0
09/30/2018 63 41 0 0 0 0 0
Year Ended 2018 251 158 3 0 0 0 0
    Bid/Ask Midpoint Below NAV
Quarter
Ending
Days 0.00-
0.25%
0.26-
0.50%
0.51-
0.99%
1.00-
1.49%
1.50-
1.99%
≥2.00%
09/30/2019 64 25 0 0 0 0 0
03/31/2019 61 36 1 0 0 0 0
12/31/2018 63 17 4 0 0 0 0
09/30/2018 63 21 1 0 0 0 0
Year Ended 2018 251 85 5 0 0 0 0

Fund Inception : 07/13/2017

 Risk & Other Information

Typically, security classifications used in calculating allocation tables are as of the last trading day of the previous month.

There are risks involved with investing in ETFs, including possible loss of money. Shares are not actively managed and are subject to risks similar to those of stocks, including those regarding short selling and margin maintenance requirements. Ordinary brokerage commissions apply. The Fund’s return may not match the return of the underlying index. The Fund is subject to certain other risks. Please see the current prospectus for more information regarding the risk associated with an investment in the Fund.

Investments focused in a particular industry or sector are subject to greater risk, and are more greatly impacted by market volatility, than more diversified investments.

The Fund is non-diversified and may experience greater volatility than a more diversified investment.

Beta is a measure of risk representing how a security is expected to respond to general market movements. Smart Beta represents an alternative and selection index based methodology that seeks to outperform a benchmark or reduce portfolio risk, or both. Smart beta funds may underperform cap-weighted benchmarks and increase portfolio risk.

The Global Industry Classification Standard was developed by and is the exclusive property and service mark of MSCI, Inc. and Standard & Poor's.

S&P® is a registered trademark of Standard & Poor's Financial Services LLC (S&P) and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones). These trademarks have been licensed for use by S&P Dow Jones Indices LLC. S&P® and Standard & Poor's® are trademarks of S&P® and Dow Jones® is a trademark of Dow Jones. These trademarks have been sublicensed for certain purposes by Invesco Capital Management LLC. The index is a product of S&P Dow Jones Indices LLC and/or its affiliates and has been licensed for use by Invesco. The fund is not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P or their respective affiliates, and neither S&P Dow Jones Indices LLC, Dow Jones, S&P or their respective affiliates make any representation regarding the advisability of investing in such product(s).

as of 11/20/2019
12:00 AM EST

SPMV
Intraday Stats

  • Last Trade $31.30
  • Current IIV $31.30
  • Change $0.00
  • % Change 0.00%
as of 11/20/2019
  • NAV at market close $31.31
as of 11/20/2019

Prior Close

  • Closing Price $31.30
  • Bid/Ask Midpoint $31.30
  • Bid/Ask Prem/Disc -$0.01
  • Bid/Ask Prem/Disc -0.03%

Fund Details

  • Fund Ticker SPMV
  • CUSIP # 46138E347
  • ISIN US46138E3475
  • Intraday NAV SPMVIV
  • Index Ticker SP5MVT
  • Index Provider S&P Dow Jones Indices LLC
  • Management Fee 0.10%
  • Total Expense Ratio 0.10%
  • Marginable Yes
  • Short Selling Yes
  • Options No
  • Exchange Cboe BZX Exchange, Inc.
  • Inception Date 07/13/2017
  • # of Holdings 116
    as of 11/20/2019
as of 11/20/2019

Quick Facts

  • Previous Close $31.30
  • Open $0.00
  • Today's High $0.00
  • Today's Low $0.00
  • Today's Volume 5
  • 443 30-Day Avg Trading
    Volume
  • 52 Week High $31.45
  • 52 Week Low $23.75
  • Shares Outstanding .05MM
  • Market Value $1.6MM