Best ETFs
Schwab and Vanguard charge the same 0.03%. Their small-cap funds are 3.7 percentage points apart
Invesco S&P SmallCap 600 QVM Multi-factor ETF
$32.12−0.21 (−0.66%)
- 0.15%
- $237M
- +22.1%
- 1.29%
- 0M sh
- $32.33
- low $26.45high $35.42
The ETF.net QVMS Grade
B
Score 61 out of 100
- 8 of 13
Score 61 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.B58 out of 100Rank 5 of 13Mission
Whether the fund did what it promised, tested against its stated mandate.A100 out of 100Rank 1 of 13Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C50 out of 100Rank 6 of 13Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.F18 out of 100Rank 12 of 13Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A82 out of 100Rank 3 of 13Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.F23 out of 100Rank 11 of 13
Our read on QVMS
BMost factor funds cut an index down to a concentrated bet. QVMS does the reverse: it tracks a version of the S&P SmallCap 600 that keeps the top 90% on quality, value and momentum and leaves the bottom-ranked tenth out.
The Fund normally invests at least 90% of its assets in common stocks included in the S&P SmallCap 600 Quality, Value & Momentum Top 90% Multi-factor Index.
Why people hold it
- Subtraction, not selection: roughly 500 small caps scored on quality, value and momentum, with the weakest decile screened out. Broad exposure, one bad-apple filter.invesco.com
- 0.15% a year sits below the median fee in its S&P SmallCap 600 peer group, which is lean for a rules-based factor build.
- Does what the prospectus says: at least 90% of assets in its stated index's stocks, and it has tracked that index very closely.invesco.com
- A plain-vanilla wrapper around the tilt: US-only common stocks, quarterly distributions, no derivatives or leverage in the mandate.
Worth knowing
- Cutting only the bottom tenth means the portfolio still looks much like the plain S&P SmallCap 600. The factor tilt is mild by design.
- It trades thinly next to the category's giants, so bid-ask spreads can matter more to a round trip than the headline fee does.
- Launched in 2021 and far smaller than index-only rivals SPSM and IJR, which also charge less for straight S&P 600 beta.
QVMS Holdings
- Stocks
- 541
- 6%
- PAYC
Sectors
- Financials18.2%
- Industrials15.5%
- Technology15.1%
- Consumer Discretionary12.9%
- Health Care10.6%
- Real Estate7.9%
- Energy5.7%
- Consumer Staples4.8%
- Materials4.8%
- Communication2.7%
- Utilities1.9%
Geography
- United States97.73%
- Ireland0.68%
- Bermuda0.57%
- Singapore0.31%
- Switzerland0.22%
- Bahamas0.17%
- Puerto Rico0.14%
- Israel0.12%
- 0.06%
QVMS Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.
QVMS$12,209
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | QVMS |
|---|---|
| Year to date | +15.7% |
| 1 month | −2.9% |
| 3 months | −5.3% |
| 1 year | +22.1% |
| 3 years | +16.3% |
| 5 years | +7.0% |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | QVMS |
|---|---|---|
| 2026 YTD | +15.7% | |
| 2025 | +5.6% | |
| 2024 | +9.5% | |
| 2023 | +16.9% | |
| 2022 | −14.6% | |
| 2021 | +4.5% |
QVMS in the news
QVMS Dividends
- 1.29%
- $0.42
- $0.13 per share
- Quarterly
Distribution history
QVMS Risk
- 19.1%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.60
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −28.0%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 1.06
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
QVMS Cost
0.15%
QVMS0.15%
- The middle half of S&P SmallCap 600 funds
- Median 0.15%
4 of the 13 S&P SmallCap 600 funds charge less.
Other funds in S&P SmallCap 600
- BSLYGState Street SPDR S&P 600 Small Cap Growth ETFExpense ratio 0.15%1 year return +19.9%
- BSLYVState Street SPDR S&P 600 Small Cap Value ETFExpense ratio 0.15%1 year return +23.9%
- BIJSiShares S&P Small-Cap 600 Value ETFExpense ratio 0.18%1 year return +23.8%
- CRZGInvesco S&P SmallCap 600 Revenue ETFExpense ratio 0.35%1 year return +20.2%
- DGRPZInvesco S&P SmallCap 600 GARP ETFExpense ratio 0.35%1 year return +23.5%