First-Year Review
Cambria Global EW ETF's largest holding is another fund, about 25 times an equal share
Invesco S&P 500 Low Volatility ETF
$72.98+0.19 (+0.26%)
- 0.25%
- $7.0B
- +2.8%
- 2.26%
- 2.2M sh
- $72.16
- low $69.63high $78.82
The ETF.net SPLV Grade
B
Score 55 out of 100
- 8 of 16
Score 55 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.D30 out of 100Rank 10 of 16Mission
Whether the fund did what it promised, tested against its stated mandate.A71 out of 100Rank 12 of 16Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D34 out of 100Rank 13 of 16Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A93 out of 100Rank 1 of 16Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B60 out of 100Rank 6 of 16Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A74 out of 100Rank 2 of 16
Our read on SPLV
BLow volatility without the black box. SPLV ranks the S&P 500 by the past year of daily price swings, keeps the 100 calmest names, and hands the biggest weights to the quietest ones. Rebalanced quarterly.
The fund seeks exposure to the S&P 500 Low Volatility Index, which represents the 100 least volatile stocks in the S&P 500 Index.
Why people hold it
- The rule is plain arithmetic: rank the 500 on a year of daily price moves, keep the 100 least volatile, weight each inversely to its volatility. No optimizer, no risk model.spglobal.com
- The list is refreshed quarterly, so as market leadership calms down or heats up, the portfolio follows the data rather than a manager's read.spglobal.com
- A multi-billion-dollar fund and one of the more actively traded names in the low-vol aisle, which tends to keep bid-ask costs modest.
- About 100 large US stocks, with distributions paid monthly instead of quarterly. Running on the same mandate since 2011.invesco.com
Worth knowing
- 0.25% a year sits above the low-vol category median of 0.20%, and cheaper builds exist: LGLV at 0.12%, QLV at 0.09%.
- The index applies no sector limits, so weights can pile into whichever corners are calmest at the time, and that mix can shift meaningfully at each quarterly reshuffle.spglobal.com
- Low volatility is not low risk. This is a fully invested stock fund with no hedge or buffer, and it moves with the market.
SPLV Holdings
- Stocks
- 107
- 13%
- BRK.B
Geography
- United States95.93%
- United Kingdom1.13%
- Switzerland1.09%
- Bermuda0.97%
- Ireland0.88%
SPLV Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
SPLV$10,276
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 | SPLV |
|---|---|
| Year to date | +3.6% |
| 1 month | −1.2% |
| 3 months | −3.5% |
| 1 year | +2.8% |
| 3 years | +10.0% |
| 5 years | +5.6% |
| 10 years | +8.3% |
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 | SPLV |
|---|---|---|
| 2026 YTD | +3.6% | |
| 2025 | +4.1% | |
| 2024 | +13.9% | |
| 2023 | +0.5% | |
| 2022 | −4.9% | |
| 2021 | +24.1% | |
| 2020 | −1.4% |
SPLV in the news
SPLV Dividends
- 2.26%
- $1.64
- $0.14 per share
- Monthly
Distribution history
SPLV Risk
- 11.2%
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.
- 0.39
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.
- −17.3%
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.
- 0.37
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
SPLV Cost
0.25%
SPLV0.25%
- The middle half of US Low Volatility Index funds
- Median 0.20%
9 of the 16 US Low Volatility Index funds charge less.
Other funds in US Low Volatility Index
- BFDLOFidelity Low Volatility Factor ETF Expense ratio 0.15%1 year return +14.9%
- BSMMViShares MSCI USA Small-Cap Min Vol Factor ETFExpense ratio 0.20%1 year return +9.5%
- BVFMVVanguard U.S. Minimum Volatility ETFExpense ratio 0.13%1 year return +15.7%
- CCFAVictoryShares US 500 Volatility Wtd ETFExpense ratio 0.39%1 year return +12.0%
- CCFOVictoryShares US 500 Enhanced Volatility Wtd ETFExpense ratio 0.39%1 year return +12.1%