SPSMvsQVMSETF Comparison
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State Street SPDR Portfolio S&P 600 Small Cap ETF (SPSM) belongs to the US Small Cap segment. Invesco S&P SmallCap 600 QVM Multi-factor ETF (QVMS) is part of the US Multi-Factor segment. SPSM's top 3 sector exposures are Industrials, Financials and Information Technology. In contrast, QVMS's top sector exposures are Industrials, Financials and Consumer Discretionary. SPSM is less expensive with a Total Expense Ratio (TER) of 0.03%, versus 0.15% for QVMS. SPSM is up 13.7% year-to-date (YTD) with +$411M in YTD flows. QVMS performs better with 14% YTD performance, and -$707K in YTD flows. Run a side-by-side ETF comparison of SPSM and QVMS 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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SPSM vs QVMS performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 04/27/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | SPSM QVMS | +12.10%+11.95% | +7.08%+7.61% | +13.70%+14.00% | +38.05%+37.65% | +53.94%+56.39% | +32.49%n/a |
| Flows | SPSM QVMS | -$6M- | +$169M-$409K | +$411M-$707K | +$941M-$601K | +$5.99B-$34M | +$8.00B- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SPSM QVMS | +17.91%+17.98% | +18.15%+17.91% | +20.58%+20.35% | +21.54%n/a |
| Max drawdown | SPSM QVMS | -8.68%-8.69% | -8.68%-8.69% | -27.91%-27.75% | -27.91%n/a |
| Max drawdown duration | SPSM QVMS | 59d59d | 59d59d | 380d380d | 380dn/a |
Trading data
SPSM | QVMS | |
Last sale 4/27/2026 at 1:30 PM | $53.10 | $32.07 |
| Previous close 04/27/2026 | $53.02 | $32.03 |
| Consolidated volume 04/27/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of March 31, 2026
1-year trailing difference
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SPSM | QVMS | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 4/27/2026 at 1:30 PM
Live
Closed
SPSM | QVMS | |
|---|---|---|
| Last price | $53.10 | $32.07 |
| 1D performance | +0.15% | +0.11% |
| AuM | $15.25 B | $234.92 M |
| E/R | 0.03% | 0.15% |
Characteristics
SPSM | QVMS | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | State Street Investment Management | Invesco |
| Benchmark | S&P SmallCap 600 Index | S&P SmallCap 600 Quality, Value & Momentum Top 90% Multi-factor Index |
| N° of holdings | 559 | 500 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | July 8, 2013 | June 30, 2021 |
| ESG | No | No |
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Exposure
Countries
SPSM
USA
95.92%
Other
4.08%
QVMS
USA
96.26%
Other
3.74%
Sectors
SPSM
Industrials
16.29%
Financials
15.89%
Information Techn.
13.19%
Consumer Discreti.
13.16%
Health Care
10.13%
Other
31.34%
QVMS
Industrials
16.96%
Financials
16.8%
Consumer Discreti.
14.05%
Information Techn.
12.55%
Health Care
9.89%
Other
29.75%
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Diversification
SPSM
Total weight of top 15 holdings out of 15
7.33%
QVMS
Total weight of top 15 holdings out of 15
8.31%
Top 15 holdings
Data as of March 31, 2026
SPSM
EASTMAN CHEMICAL
0.57%
ELEMENT SOLUTIONS INC
0.51%
PRIMORIS SERVICES
0.51%
VIAVI SOLUTIONS INC
0.50%
ARGAN
0.49%
FORMFACTOR
0.49%
LKQ
0.49%
JACKSON FINANCIAL INC
0.49%
ESCO TECHNOLOGIES
0.48%
MATCH GROUP
0.47%
CELANESE SR
0.47%
SEMTECH
0.47%
ARMSTRONG WORLD INDUSTRIES
0.46%
SANMINA CORP
0.46%
SM ENERGY
0.46%
QVMS
EASTMAN CHEMICAL
0.65%
PRIMORIS SERVICES
0.63%
SANMINA CORP
0.63%
FORMFACTOR
0.59%
ELEMENT SOLUTIONS INC
0.59%
LKQ
0.58%
VIAVI SOLUTIONS INC
0.55%
ESCO TECHNOLOGIES
0.53%
ARMSTRONG WORLD INDUSTRIES
0.52%
ZURN WATER SOLUTIONS CORP
0.52%
JACKSON FINANCIAL INC
0.51%
JOHN BEAN TECHNOLOGIES
0.50%
GLAUKOS
0.50%
INSTALLED BUILDING PRODUCTS
0.50%
QORVO INC.
0.50%
Frequently asked questions about SPSM and QVMS
How have the SPSM and QVMS ETFs performed in 2026?
As of April 27, 2026, SPSM is up 13.7% year-to-date (YTD), while QVMS has returned 14%. That puts QVMS better performer ahead so far this year.
Which ETF is attracting more investor money: SPSM or QVMS?
Year-to-date, the SPSM ETF saw +$411M in flows, compared to -$707K for QVMS.
Which ETF is more volatile: SPSM or QVMS?
Over the past year, SPSM had a volatility of 18.15%, while QVMS experienced 17.91%.
Which ETF is bigger: SPSM or QVMS?
As of April 27, 2026, SPSM holds $15.25 B in assets under management (AUM), while QVMS manages $234.92 M.
What sectors do the SPSM and QVMS ETFs invest in?
SPSM leans toward sectors like Industrials, Financials and Information Technology. Meanwhile, QVMS focuses on Industrials, Financials and Consumer Discretionary.
What are the top holdings of the SPSM ETF and QVMS ETF?
SPSM top holdings include EASTMAN CHEMICAL, ELEMENT SOLUTIONS INC and PRIMORIS SERVICES. QVMS holds in its top three: EASTMAN CHEMICAL, PRIMORIS SERVICES and SANMINA CORP.
Which ETF is more diversified: SPSM or QVMS?
SPSM holds 601 securities with 7.33% of its assets in the top 15. QVMS has 539 securities and a top 15 weight of 8.31%.
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