QVMLvsSPYETF Comparison
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Invesco S&P 500 QVM Multi-factor ETF (QVML) belongs to the US Multi-Factor segment. State Street SPDR S&P 500 ETF Trust (SPY) is part of the US Large Cap segment. QVML's top 3 sector exposures are Information Technology, Communication Services and Financials. In contrast, SPY's top sector exposures are Information Technology, Communication Services and Consumer Discretionary. QVML is more expensive with a Total Expense Ratio (TER) of 0.11%, versus 0.0945% for SPY. QVML is up 11.43% year-to-date (YTD) with -$165M in YTD flows. SPY performs worse with 10.94% YTD performance, and +$7.79B in YTD flows. Run a side-by-side ETF comparison of QVML and SPY below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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QVML vs SPY performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 06/15/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | QVML SPY | +2.27%+2.09% | +13.57%+13.07% | +11.43%+10.94% | +26.63%+26.61% | +78.68%+77.16% | n/a+90.36% |
| Flows | QVML SPY | -$161M+$13.52B | -$165M+$31.45B | -$165M+$7.79B | -$105M+$21.05B | -$80M+$61.61B | -+$98.55B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | QVML SPY | +15.33%+15.51% | +12.06%+12.41% | +14.87%+14.97% | n/a+16.98% |
| Max drawdown | QVML SPY | -5.37%-5.52% | -8.73%-8.89% | -18.54%-18.74% | n/a-24.50% |
| Max drawdown duration | QVML SPY | 21d21d | 70d76d | 127d126d | n/a708d |
Trading data
QVML | SPY | |
Last sale 6/16/2026 at 1:30 PM | $44.41 | $750.33 |
| Previous close 06/15/2026 | $44.54 | $754.83 |
| Consolidated volume 06/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of May 29, 2026
1-year trailing difference
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QVML | SPY | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 6/16/2026 at 1:30 PM
Live
Closed
QVML | SPY | |
|---|---|---|
| Last price | $44.41 | $750.33 |
| 1D performance | -0.30% | -0.60% |
| AuM | $1.49 B | $794.66 B |
| E/R | 0.11% | 0.0945% |
Characteristics
QVML | SPY | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Invesco | State Street Investment Management |
| Benchmark | S&P 500 Quality, Value & Momentum Top 90% Multi-factor Index | S&P 500 Index |
| N° of holdings | 427 | 478 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | June 30, 2021 | January 22, 1993 |
| ESG | No | No |
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Exposure
Countries
QVML
USA
96.71%
Other
3.29%
SPY
USA
96.99%
Other
3.01%
Sectors
QVML
Information Techn.
36.47%
Communication Ser.
11.31%
Financials
10.73%
Health Care
8.51%
Industrials
8.39%
Consumer Discreti.
7.33%
Other
17.26%
SPY
Information Techn.
35.7%
Communication Ser.
10.98%
Consumer Discreti.
10.11%
Financials
9.89%
Health Care
8.38%
Industrials
8.08%
Other
16.86%
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Diversification
QVML
Total weight of top 15 holdings out of 15
46.28%
SPY
Total weight of top 15 holdings out of 15
43.91%
Top 15 holdings
Data as of April 30, 2026
QVML
NVIDIA
8.67%
APPLE
6.89%
ALPHABET INC-CL
6.34%
MICROSOFT-T
5.08%
AMAZON.COM INC
4.32%
BROADCOM LIMITED
3.18%
META PLATFORMS
2.52%
BERKSHIRE HATHWAY
1.54%
JPMORGAN CHASE
1.53%
LILLY
1.25%
EXXON
1.09%
MICRON TECHNOLOGY
1.00%
WALMART INC
1.00%
JOHNSON&JOHNSON
0.96%
VISA INCORPORATION
0.93%
SPY
NVIDIA
7.85%
APPLE
6.45%
MICROSOFT-T
4.90%
AMAZON.COM INC
4.19%
ALPHABET INC-CL
3.63%
BROADCOM LIMITED
3.20%
ALPHABET INC-CL
2.89%
META PLATFORMS
2.17%
TESLA
1.74%
BERKSHIRE HATHWAY
1.41%
JPMORGAN CHASE
1.37%
LILLY
1.20%
EXXON
1.04%
MICRON TECHNOLOGY
0.94%
WALMART INC
0.94%
Frequently asked questions about QVML and SPY
How have the QVML and SPY ETFs performed in 2026?
As of June 15, 2026, QVML is up 11.43% year-to-date (YTD), while SPY has returned 10.94%. That puts QVML better performer ahead so far this year.
Which ETF is attracting more investor money: QVML or SPY?
Year-to-date, the QVML ETF saw -$165M in flows, compared to +$7.79B for SPY.
Which ETF is more volatile: QVML or SPY?
Over the past year, QVML had a volatility of 12.06%, while SPY experienced 12.41%.
Which ETF is bigger: QVML or SPY?
As of June 15, 2026, QVML holds $1.49 B in assets under management (AUM), while SPY manages $794.66 B.
What sectors do the QVML and SPY ETFs invest in?
QVML leans toward sectors like Information Technology, Communication Services and Financials. Meanwhile, SPY focuses on Information Technology, Communication Services and Consumer Discretionary.
What are the top holdings of the QVML ETF and SPY ETF?
QVML top holdings include NVIDIA, APPLE and ALPHABET INC-CL. SPY holds in its top three: NVIDIA, APPLE and MICROSOFT-T.
Which ETF is more diversified: QVML or SPY?
QVML holds 449 securities with 46.28% of its assets in the top 15. SPY has 503 securities and a top 15 weight of 43.91%.
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