EELV vs EEMV: Grades, Fees and Holdings Compared

Invesco S&P Emerging Markets Low Volatility ETF

EELVBNYSE Arca

iShares MSCI Emerging Markets Min Vol Factor ETF

EEMVACboe

Overlap

16.9%by weight

Expense ratio

EEMV −0.04pt a year

EELV0.29%EEMV0.25%

Avg volume · 30D

EEMV 4.0×the volume

EELV56KEEMV225K

10Y return · a year

EELV +0.8pt

EELV+6.5%EEMV+5.7%

EELV vs EEMV Performance

Oct 29, 2021 – Oct 30, 2026

+38.0%EELV+28.7%EEMV

Expense ratio: EELV 0.29%; EEMV 0.25%, better
Fund size: EELV $386M; EEMV $3.4B
1Y total return: EELV +8.5%; EEMV +12.0%, better
Yield (12M): EELV 4.40%, better; EEMV 2.28%
Holdings: EELV 208; EEMV 324
Avg volume (30D): EELV 56K sh; EEMV 225K sh, better
NAV per share: EELV $27.86; EEMV $71.20
52W range

ETF.net Grade

Pillar letters and Scores for EELV, EEMV, with each pillar’s weight
Pillar	EELV	EEMV
Cost30% weight	A78	A92Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	B68Higher	B56
Tradability15% weight	C40	A75Higher
Holdings10% weight	B69	A73Higher
Durability5% weight	A70	A81Higher

Rank among Emerging Markets Factor Index funds

How we build Categories ›

Same Category. EELV and EEMV are both graded against the same 10 Emerging Markets Factor Index funds, so their Grades compare head to head.

Emerging Markets Factor Index⁠

Category · 10 funds

See all 10 ›

EEMV ranks 1st and EELV 2nd of 10 funds in the Emerging Markets Factor Index Category.

Rank 1AEEMViShares MSCI Emerging Markets Min Vol Factor ETFScore 78
Rank 2BEELVInvesco S&P Emerging Markets Low Volatility ETFScore 66
Rank 3BFNDESchwab Fundamental Emerging Markets Large Company Index ETFScore 64

Our read on each fund

ETF.net Research

EELVBInvesco S&P Emerging Markets Low Volatility ETF

EEMVAiShares MSCI Emerging Markets Min Vol Factor ETF

In short

EELV EELV hunts the calm corners of emerging markets: roughly 200 of the least volatile stocks in a broad EM universe, chosen by rule rather than by a manager's hunch. Same asset class, deliberately lower-drama construction.

EEMV Emerging markets with the volume turned down. Since 2011, EEMV has tracked MSCI's minimum-volatility EM index, holding roughly 300 stocks picked for steadiness rather than size, at 0.25% a year.

Stated mandate

EELV The fund provides exposure to emerging-market stocks selected for low volatility by tracking the S&P BMI Emerging Markets Low Volatility Index.

EEMV The fund seeks to track an index of emerging-market equities selected for minimum-volatility characteristics.

Why people hold it

EELV At 0.29% a year it undercuts the median fee in its emerging-markets factor cohort (0.44%), and it has run the same low-volatility rulebook since its 2012 launch.
The rule is plain: track the S&P BMI Emerging Markets Low Volatility Index, which screens a broad EM universe on realized volatility. No stock-picker discretion.invesco.com
Roughly 200 holdings means no single name or headline steers the whole portfolio, and distributions land on a quarterly schedule.

EEMV At 0.25%, it carries the lowest fee in its emerging-markets factor cohort, undercutting EELV at 0.29% and ECOW at 0.70%, and sitting well below the group median.
Live since 2011 and now a multi-billion-dollar fund: a long public track record of running the min vol playbook in the world's bumpiest equity markets.
About 300 emerging-market names, chosen by published index rules rather than a manager's hunch, so what you own is auditable rather than discretionary.
Stands among the stronger implementations in its emerging-markets factor peer group on our review, largely on cost and issuer staying power.

Worth knowing

EELV It trades lightly next to the category's largest funds, so the spread paid at the trade can matter as much as the 0.29% fee.
A pure volatility screen reshapes the map: sector and country weights can sit far from a standard cap-weighted emerging-markets index.invesco.com
Cheap, but not the cheapest low-vol EM shelf: iShares' EEMV lists a 0.25% fee.

EEMV Minimum volatility is a construction rule, not a floor. The index aims for smaller swings; emerging-market currency, country and political risk still ride along.
Screening for low volatility pulls country and sector weights away from a cap-weighted EM benchmark, so it can move to a different rhythm than the headline index.
Volume is moderate rather than torrential, so execution habits (limit orders, skipping the opening minutes) matter more here than with a mega-cap index fund.

Full EELV profile⁠

Full EEMV profile⁠

EELV vs EEMV Holdings

How EELV and EEMV differ

Overlap by weight

16.9%

Shared holdings make up 23.6% of EELV and 23.3% of EEMV.

Level by level

Holdings43 in both16.9%
Countryby domicile54.7%
Sector11 Sectors60.0%
Asset classEquity100%

Sector

Sector weights in EELV and EEMV, widest gap first
Sector	More in EELVMore in EEMV	EELV	EEMV
Technology	EEMV +35.5 points	0.2%	35.7%
Financials	EELV +19.3 points	40.4%	21.1%
Industrials	EELV +6.3 points	10.5%	4.2%
Utilities	EELV +4.6 points	9.1%	4.5%
Consumer Staples	EELV +3.7 points	9.6%	5.9%
Communication	EEMV +2.2 points	9.1%	11.3%
Health Care	EEMV +2.3 points	3.5%	5.8%
Materials	EELV +2.2 points	4.5%	2.3%
Energy	EELV +2.0 points	6.2%	4.2%
Real Estate	EELV +1.8 points	2.4%	0.6%
Consumer Discretionary	EELV +0.1 points	4.5%	4.4%

Country, concentration and asset class

Country by domicile

Country weights in EELV and EEMV, widest gap first
Country	More in EELVMore in EEMV	EELV	EEMV
India	EEMV +17.5 points	0.1%	17.6%
South Korea	EEMV +14.9 points	0.7%	15.6%
Malaysia	EELV +13.4 points	16.0%	2.6%
Taiwan	EEMV +9.9 points	14.7%	24.6%
Thailand	EELV +9.7 points	11.4%	1.7%
Mexico	EELV +6.9 points	6.9%	0.0%
Brazil	EELV +6.7 points	8.5%	1.8%
China	EELV +4.7 points	24.8%	20.1%
Other countries (5)	EELV +1.0 points	17.0%	16.0%

Outside the US: EELV 0% developed, 100% emerging. EEMV 0% developed, 100% emerging.

Concentration

Weight in the 10 largest Holdings

EELV8.7%
EEMV15.3%

Securities held

EELV201
EEMV302

Asset class

EELV: Equity
EEMV: Equity

Holdings

Only in EELV158
In both43
Only in EEMV259

Only in EELV

158 securities, 75.9% of EELV by weight

Borouge PLC0.88%
Tisco Financial Group PCL0.82%
Warba Bank KSCP0.81%
Gulf Bank KSCP0.76%
Tenaga Nasional Bhd0.75%
Qatar Fuel QSC0.73%
NEPI Rockcastle NV0.72%
Shanghai Commercial & Savings Bank Ltd/The0.72%
Saudi Arabian Oil Co0.70%
Al Rayan Bank0.69%
Mobile Telecommunications Co KSCP0.68%
Al Ahli Bank of Kuwait KSCP0.68%
Malayan Banking Bhd0.68%
Scb X Pcl0.67%
Bid Corp Ltd0.63%
IOI Corp Bhd0.63%
Adnoc Gas PLC0.61%
RHB Bank Bhd0.61%
Shanghai Pharmaceuticals Holding Co Ltd0.61%
Jarir Marketing Co0.60%
Saudi Awwal Bank0.60%
Public Bank Bhd0.60%
AMMB Holdings Bhd0.59%
Remgro Ltd0.58%
SD Guthrie Bhd0.58%
Abu Dhabi National Oil Co for Distribution PJSC0.58%
MISC Bhd0.57%
Kasikornbank PCL0.57%
IHH Healthcare Bhd0.56%
Industrial & Commercial Bank of China Ltd0.56%
Shoprite Holdings Ltd0.55%
Jiangsu Expressway Co Ltd0.55%
China Merchants Bank Co Ltd0.55%
Ptt Pcl0.54%
Komercni Banka AS0.53%
Riyad Bank0.53%
China Tower Corp Ltd0.52%
Bidvest Group Ltd0.52%
Sinopharm Group Co Ltd0.52%
Bangkok Bank PCL0.51%
Capitec Limited0.51%
Arab National Bank0.51%
Caixa Seguridade Participacoes S/A0.51%
Arca Continental SAB de CV0.51%
Al Rajhi Bank0.51%
Thai Beverage PCL0.51%
Old Mutual Ltd0.50%
Hong Leong Bank Bhd0.50%
Bangkok Dusit Medical Services PCL0.50%
China Resources Power Holdings Co Ltd0.49%

Only in EEMV

259 securities, 76.6% of EEMV by weight

Tata Consultancy Services Ltd1.72%
Samsung Electronics Non Voting Pre1.62%
Samsung Sdi Ltd1.56%
Taiwan Semiconductor Manufacturing1.54%
Saudi Arabian Oil1.52%
Industrial and Commercial Bank of1.47%
Samsung Electronics Ltd1.38%
Sk Hynix1.37%
United Micro Electronics Corp1.36%
Bharti Airtel Ltd1.22%
Advanced Info Service Non-Voting D1.13%
Novatek Microelectronics1.06%
Delta Electronics1.01%
Samsung Sds1.00%
Infosys0.92%
Chroma Ate0.91%
Samsung Biologics0.89%
Advantech0.86%
China Yangtze Power Ltd A0.86%
Malayan Banking0.86%
Aselsan Elektronik Sanayi Ve Ticar0.86%
Tech Mahindra0.85%
KT&G Corp0.84%
King Slide Works0.82%
Emirates Telecommunications Group0.81%
Hcl Technologies Ltd0.80%
Credicorp Ltd0.79%
Hua Nan Financial Holdings0.76%
Accton Technology0.75%
Torrent Pharmaceuticals Ltd0.73%
Ase Technology Holding0.72%
Sun Pharmaceutical Industries0.69%
Hmm Ltd0.69%
Pegatron0.67%
Honprecision Inc0.63%
Al-Elm Information Security Compan0.62%
Al Rajhi Bank0.61%
Emirates Nbd0.59%
Sk Telecom0.59%
Aspeed Technology0.58%
Samsung Electro Mechanics Ltd0.57%
Elite Material0.57%
Ihh Healthcare0.56%
Xiaomi0.55%
Naura Technology Group Ltd A0.52%
Titan Company Ltd0.50%
Abu Dhabi National Oil Company For0.50%
Petrochina H0.50%
Etihad Etisalat0.49%
Ltm Ltd0.48%

Weight gaps

All 43 Holdings in both funds, largest gap first.

Holding weights in EELV and EEMV, widest gap first
Holding	More in EELVMore in EEMV	EELV	EEMV
Bank of China Ltd	EEMV +1.11 points	0.57%	1.68%
Boubyan Bank KSCP	EELV +0.80 points	0.87%	0.07%
Agricultural Bank of China Ltd	EEMV +0.70 points	0.50%	1.20%
Chang Hwa Commercial Bank Ltd	EELV +0.55 points	0.73%	0.18%
First Financial Holding Co Ltd	EEMV +0.55 points	0.66%	1.21%
Taiwan Cooperative Financial Holding Co Ltd	EEMV +0.49 points	0.81%	1.30%
Chunghwa Telecom Co Ltd	EEMV +0.48 points	0.97%	1.45%
China Construction Bank Corp	EEMV +0.47 points	0.53%	1.00%
Alinma Bank	EELV +0.43 points	0.48%	0.05%
Industries Qatar QSC	EELV +0.42 points	0.47%	0.05%
Saudi Telecom Co	EEMV +0.41 points	0.81%	1.22%
Kuwait Finance House KSCP	EELV +0.39 points	1.14%	0.75%
Qatar Gas Transport Co Ltd	EELV +0.39 points	0.44%	0.05%
CTBC Financial Holding Co Ltd	EELV +0.38 points	0.46%	0.08%
China CITIC Bank Corp Ltd	EEMV +0.36 points	0.50%	0.86%
Qatar Islamic Bank QPSC	EELV +0.37 points	0.51%	0.14%
Saudi National Bank/The	EELV +0.36 points	0.41%	0.05%
Petroleo Brasileiro SA - Petrobras	EELV +0.35 points	0.43%	0.08%
Dubai Islamic Bank PJSC	EEMV +0.33 points	0.39%	0.72%
Far EasTone Telecommunications Co Ltd	EEMV +0.32 points	0.55%	0.87%
Empresas Copec SA	EELV +0.32 points	0.40%	0.08%
China Shenhua Energy Co Ltd	EEMV +0.31 points	0.38%	0.69%
Ambev SA	EELV +0.30 points	0.38%	0.08%
Taiwan Mobile Co Ltd	EEMV +0.30 points	0.85%	1.15%
Uni-President Enterprises Corp	EELV +0.28 points	0.64%	0.36%
Saudi Basic Industries Corp	EELV +0.24 points	0.45%	0.21%
Dubai Electricity & Water Authority PJSC	EELV +0.23 points	0.48%	0.25%
Equatorial SA	EELV +0.22 points	0.35%	0.13%
Cia Paranaense de Energia - Copel	EELV +0.18 points	0.36%	0.18%
Bank of Communications Co Ltd	EELV +0.16 points	0.63%	0.47%
Postal Savings Bank of China Co Ltd	EELV +0.12 points	0.55%	0.43%
National Bank of Kuwait SAKP	EEMV +0.12 points	0.70%	0.82%
Cez As	EELV +0.11 points	0.46%	0.35%
CGN Power Co Ltd	EEMV +0.10 points	0.45%	0.55%
President Chain Store Corp	EEMV +0.09 points	0.52%	0.61%
E.Sun Financial Holding Co Ltd	EEMV +0.07 points	0.58%	0.65%
Telefonica Brasil SA	EELV +0.06 points	0.41%	0.35%
Qatar National Bank QPSC	EEMV +0.06 points	0.49%	0.55%
Ooredoo QPSC	EELV +0.06 points	0.44%	0.38%
Cia de Saneamento Basico do Estado de Sao Paulo SABESP	EEMV +0.05 points	0.36%	0.41%
America Movil SAB de CV	EEMV +0.04 points	0.47%	0.51%
China Petroleum & Chemical Corp	EELV +0.02 points	0.43%	0.41%
Mega Financial Holding Co Ltd	EEMV +0.01 points	0.60%	0.61%

All 202 EELV holdings⁠All 297 EEMV holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

EELV vs EEMV Cost

Overpaying EELV vs EEMV

$793

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

EELV 0.29%
$5,952
EEMV 0.25%
$5,159

Amount$10,000

Years30 years

Cost over time

EELV 0.29%
EEMV 0.25%
Overpaying

Year by year

Year	EELV	EEMV	Overpaying
10	$527	$455	$72
20	$2,044	$1,769	$275
30	$5,952	$5,159	$793

Expense ratio

0.29%EELV
0.25%EEMV, cheaper

EEMV0.25%EELV0.29%

0.25%0.90%

Middle half of Emerging Markets Factor Index funds
Median 0.44%

EEMV cheapest of 10 funds

EELV 2nd cheapest of 10 funds

EELV vs EEMV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): EELV 4.40%, better; EEMV 2.28%
Payout (12M): EELV $1.22; EEMV $1.62
Last payment: EELV $0.43; EEMV $0.65
Ex-dividend: EELV Sep 21, 2026; EEMV Jun 15, 2026
Paid on: EELV Sep 25, 2026; EEMV Jun 18, 2026
Frequency: EELV Quarterly; EEMV Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

EELVQuarterly · 39 paymentsAll EELV payments⁠

EEMVTwice a year · 19 paymentsAll EEMV payments⁠

EELV vs EEMV Risk

Fall from peak · 5 years

EELV
EEMV

Risk facts

VolatilityStd dev, 3 years: EELV 9.2%, betterEEMV 11.6%
Return per unit of riskSharpe ratio, 3 years: EELV 0.92, betterEEMV 0.85
Worst fallMax drawdown, 5 years: EELV −19.0%, betterEEMV −21.9%
Market sensitivityBeta, 5 years: EELV 0.60EEMV 0.72; Market = 1

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