SPVM vs VYM: Grades, Fees and Holdings Compared

Invesco S&P 500 Value with Momentum ETF

SPVMCNYSE Arca

Vanguard High Dividend Yield ETF

VYMANYSE Arca

Overlap

22.2%by weight

Expense ratio

VYM −0.35pt a year

SPVM0.39%VYM0.04%

Avg volume · 30D

VYM 118.8×the volume

SPVM9.62KVYM1.14M

10Y return · a year

SPVM+12.0%VYM+12.0%

SPVM vs VYM Performance

Oct 29, 2021 – Oct 30, 2026

+71.2%SPVM+74.3%VYM

Expense ratio: SPVM 0.39%; VYM 0.04%, better
Fund size: SPVM $142M; VYM $95.8B
1Y total return: SPVM +22.6%, better; VYM +19.3%
Yield (12M): SPVM 1.81%; VYM 2.24%, better
Holdings: SPVM 103; VYM 601
Avg volume (30D): SPVM 9.62K sh; VYM 1.14M sh, better
NAV per share: SPVM $77.73; VYM $163.75
52W range

ETF.net Grade

Pillar letters and Scores for SPVM, VYM, with each pillar’s weight
Pillar	SPVM	VYM
Cost30% weight	D34	A99Higher
Mission25% weight	B57	A79Higher
Risk15% weight	A70	A84Higher
Tradability15% weight	C45	B61Higher
Holdings10% weight	B58Higher	C53
Durability5% weight	C54	A95Higher

Rank among US Multifactor funds

How we build Categories ›

Same Category. SPVM and VYM are both graded against the same 99 US Multifactor funds, so their Grades compare head to head.

US Multifactor⁠

Category · 99 funds

See all 99 ›

VYM ranks 2nd and SPVM 64th of 99 funds in the US Multifactor Category.

Rank 1AVONVVanguard Russell 1000 Value ETFScore 85
Rank 2AILCViShares Morningstar Value ETFScore 81
Rank 2AVYMVanguard High Dividend Yield ETFScore 81
Rank 4AIMCViShares Morningstar Mid-Cap Value ETFScore 80
Rank 64CDSTLDistillate U.S. Fundamental Stability & Value ETFScore 50
Rank 64CSPVMInvesco S&P 500 Value with Momentum ETFScore 50
Rank 66COMFSInvesco Russell 2000 Dynamic Multifactor ETFScore 49

Our read on each fund

ETF.net Research

SPVMCInvesco S&P 500 Value with Momentum ETF

VYMAVanguard High Dividend Yield ETF

In short

SPVM Value usually means catching a falling knife. SPVM screens the S&P 500 for stocks scoring high on both value and momentum, holding about 100 names: cheap, but already moving.

VYM The no-frills dividend workhorse. VYM buys the higher-yielding end of the US market, roughly 600 names, for four basis points: no quality screen, no dividend-growth-streak test, just yield, at scale since 2006.

Stated mandate

SPVM The Fund seeks to track the S&P 500 High Momentum Value Index, which selects 100 stocks from the S&P 500 and represents large-cap U.S. equities.

VYM The Fund seeks to track a benchmark index measuring the investment return of common stocks from companies characterized by high dividend yields.

Why people hold it

SPVM Double screen: picks roughly 100 S&P 500 names with the highest value and momentum scores, so cheapness has to come with price strength.invesco.com
Running since 2011, a long-tenured take on pairing two factors that often pull in opposite directions.
The hunting ground is the S&P 500 itself, so holdings are large-cap US companies, not small-cap deep value. Pays quarterly.

VYM Four basis points a year, against a peer-group median near 0.32%. Cheaper than cohort neighbors VONV (0.06%) and FNDX (0.25%).
Running since 2006 and now a multi-billion-dollar fund that trades actively, so ordinary orders tend to fill at tight spreads.
Simple mandate: track the FTSE High Dividend Yield Index of US common stocks screened on yield. No manager discretion, no options overlay, plain 1940-Act fund.vanguard.com
Pays quarterly, and among 100-plus value and multifactor rivals it stands as one of the strongest overall packages in the group.

Worth knowing

SPVM Costs 0.39% net of a waiver through August 31, 2028 (0.44% gross), above the category median. Broad value peers VYM (0.04%) and VONV (0.06%) cost far less.
A smaller fund that trades thinly, so spreads can be wider than in mega-cap index funds.
About 100 stocks means it can look very different from the S&P 500 in any given stretch.

VYM The screen is yield, not payout growth or dividend quality, so a company can qualify simply because its share price fell.
This is a value slice by design, tilted to established payers, so it behaves differently from a total US market fund.
Roughly 600 holdings, but weight leans toward the largest payers, so the top of the roster does more of the work than the count suggests.

Full SPVM profile⁠

Full VYM profile⁠

SPVM vs VYM Holdings

How SPVM and VYM differ

Overlap by weight

22.2%

Shared holdings make up 84.4% of SPVM and 28.4% of VYM.

Level by level

Holdings85 in both22.2%
Sector11 Sectors69.8%
Countryby domicile98.8%
Asset classEquity100%

Sector

Sector weights in SPVM and VYM, widest gap first
Sector	More in SPVMMore in VYM	SPVM	VYM
Technology	VYM +17.5 points	0.0%	17.5%
Financials	SPVM +14.1 points	35.0%	20.9%
Utilities	SPVM +7.6 points	12.6%	5.0%
Energy	SPVM +5.3 points	15.5%	10.2%
Health Care	VYM +5.2 points	8.9%	14.1%
Industrials	VYM +2.9 points	8.7%	11.6%
Consumer Staples	VYM +2.2 points	6.0%	8.2%
Consumer Discretionary	VYM +2.0 points	4.0%	6.0%
Real Estate	SPVM +2.0 points	2.0%	0.0%
Materials	SPVM +1.2 points	4.4%	3.2%
Communication	VYM +0.4 points	2.9%	3.3%

Country, concentration and asset class

Country by domicile

Country weights in SPVM and VYM, widest gap first
Country	More in SPVMMore in VYM	SPVM	VYM
United States	VYM +1.2 points	98.8%	100.0%
Switzerland	SPVM +1.2 points	1.2%	0.0%

Concentration

Weight in the 10 largest Holdings

SPVM16.6%
VYM26.2%

Securities held

SPVM102
VYM594

Asset class

SPVM: Equity
VYM: Equity

Holdings

Only in SPVM17
In both85
Only in VYM509

Only in SPVM

17 securities, 15.5% of SPVM by weight

General Motors Co1.71%
United Airlines Holdings Inc1.46%
Loews Corp1.41%
McKesson Corp1.40%
Delta Air Lines Inc1.23%
Biogen Inc1.06%
Globe Life Inc1.05%
Textron Inc0.94%
HCA Healthcare Inc0.85%
Host Hotels & Resorts Inc0.84%
Dollar Tree Inc0.78%
Incyte Corp0.77%
Aptiv PLC0.72%
Kimco Realty Corp0.65%
Realty Income Corp0.55%
Invesco Government & Agency Portfolio0.05%
Securities Lending - Bnym0.00%

Only in VYM

509 securities, 71.4% of VYM by weight

Broadcom Inc6.94%
Johnson & Johnson2.71%
AbbVie Inc1.97%
Cisco Systems Inc1.81%
Caterpillar Inc1.56%
Merck & Co Inc1.53%
Procter & Gamble Co/The1.44%
Coca-Cola Co/The1.42%
UnitedHealth Group Inc1.41%
Philip Morris International Inc1.26%
Home Depot Inc/The1.21%
Texas Instruments Inc1.08%
RTX Corp1.06%
Goldman Sachs Group Inc/The1.03%
Oracle Corp1.00%
Linde PLC0.93%
Morgan Stanley0.90%
Amgen Inc0.89%
International Business Machines Corp0.88%
QUALCOMM Inc0.82%
Analog Devices Inc0.82%
Gilead Sciences Inc0.79%
PepsiCo Inc0.73%
Abbott Laboratories0.73%
Eaton Corp PLC0.71%
McDonald's Corp0.70%
AT&T Inc0.69%
Pfizer Inc0.69%
Dell Technologies Inc0.69%
Blackrock Inc0.69%
Union Pacific Corp0.69%
NextEra Energy Inc0.67%
Progressive Corp/The0.51%
Capital One Financial Corp0.49%
Altria Group Inc0.48%
Accenture PLC0.48%
Medtronic PLC0.47%
Starbucks Corp0.46%
Automatic Data Processing Inc0.44%
Lockheed Martin Corp0.44%
Lowe's Cos Inc0.44%
Southern Co/The0.41%
CME Group Inc0.40%
Johnson Controls International plc0.38%
Emerson Electric Co0.37%
3M Co0.36%
Hewlett Packard Enterprise Co0.36%
Blackstone Inc0.35%
Williams Cos Inc/The0.35%
Marsh & McLennan Cos Inc0.35%

Weight gaps

All 85 Holdings in both funds, largest gap first.

Holding weights in SPVM and VYM, widest gap first
Holding	More in SPVMMore in VYM	SPVM	VYM
JPMorgan Chase & CoJPM	VYM +2.92 points	0.84%	3.76%
ExxonMobil Holdings CorpXOM	VYM +2.02 points	0.83%	2.85%
APA CorpAPA	SPVM +1.65 points	1.71%	0.06%
Allstate Corp/TheALL	SPVM +1.51 points	1.75%	0.24%
Phillips 66PSX	SPVM +1.46 points	1.89%	0.43%
Stanley Black & Decker IncSWK	SPVM +1.43 points	1.49%	0.06%
Travelers Cos Inc/TheTRV	SPVM +1.38 points	1.70%	0.32%
Marathon Petroleum CorpMPC	SPVM +1.36 points	1.85%	0.49%
Synchrony FinancialSYF	SPVM +1.31 points	1.41%	0.10%
Cincinnati Financial CorpCINF	SPVM +1.30 points	1.40%	0.10%
Dollar General CorpDG	SPVM +1.30 points	1.41%	0.11%
Assurant IncAIZ	SPVM +1.24 points	1.30%	0.06%
Hartford Insurance Group Inc/TheHIG	SPVM +1.19 points	1.33%	0.14%
MetLife IncMET	SPVM +1.18 points	1.40%	0.22%
Valero Energy CorpVLO	SPVM +1.14 points	1.61%	0.47%
Target CorpTGT	SPVM +1.09 points	1.39%	0.30%
EQT CorpEQT	SPVM +1.09 points	1.21%	0.12%
Edison InternationalEIX	SPVM +1.08 points	1.17%	0.09%
Bunge Global SABG	SPVM +1.08 points	1.14%	0.06%
Archer-Daniels-Midland CoADM	SPVM +1.04 points	1.20%	0.16%
Citizens Financial Group IncCFG	SPVM +1.04 points	1.15%	0.11%
Regions Financial CorpRF	SPVM +1.02 points	1.12%	0.10%
M&T Bank CorpMTB	SPVM +1.01 points	1.14%	0.13%
Huntington Bancshares Inc/OHHBAN	SPVM +1.00 points	1.13%	0.13%
Truist Financial CorpTFC	SPVM +1.00 points	1.24%	0.24%
KeyCorpKEY	SPVM +0.97 points	1.05%	0.08%
Huntington Ingalls Industries IncHII	SPVM +0.97 points	1.01%	0.04%
Franklin Templeton IncBEN	SPVM +0.95 points	0.99%	0.04%
Devon Energy CorpDVN	SPVM +0.93 points	1.15%	0.22%
Cardinal Health IncCAH	SPVM +0.92 points	1.14%	0.22%
Principal Financial Group IncPFG	SPVM +0.92 points	1.02%	0.10%
CF Industries Holdings IncCF	SPVM +0.91 points	0.99%	0.07%
Eversource EnergyES	SPVM +0.91 points	1.01%	0.10%
CVS Health CorpCVS	SPVM +0.90 points	1.37%	0.47%
Carnival Corp LtdCCL	SPVM +0.90 points	1.03%	0.13%
T Rowe Price Group IncTROW	SPVM +0.86 points	0.95%	0.09%
Raymond James Financial IncRJF	SPVM +0.86 points	0.97%	0.11%
Pinnacle West Capital CorpPNW	SPVM +0.83 points	0.88%	0.05%
Southwest Airlines CoLUV	SPVM +0.82 points	0.90%	0.08%
US BancorpUSB	SPVM +0.79 points	1.17%	0.38%
Chevron CorpCVX	VYM +0.77 points	0.84%	1.61%
Aflac IncAFL	SPVM +0.74 points	0.96%	0.22%
Chubb LtdCB	SPVM +0.74 points	1.23%	0.49%
Viatris IncVTRS	SPVM +0.74 points	0.83%	0.09%
Fifth Third BancorpFITB	SPVM +0.74 points	0.93%	0.19%
State Street CorpSTT	SPVM +0.72 points	0.92%	0.20%
Fox CorpFOXA	SPVM +0.71 points	0.76%	0.05%
Quest Diagnostics IncDGX	SPVM +0.70 points	0.81%	0.11%
Evergy IncEVRG	SPVM +0.67 points	0.75%	0.08%
PPL CorpPPL	SPVM +0.65 points	0.76%	0.11%
EOG Resources IncEOG	SPVM +0.66 points	0.97%	0.31%
FirstEnergy CorpFE	SPVM +0.63 points	0.73%	0.10%
PNC Financial Services Group Inc/ThePNC	SPVM +0.60 points	0.98%	0.38%
Ford Motor CoF	SPVM +0.58 points	0.78%	0.20%
Atmos Energy CorpATO	SPVM +0.58 points	0.69%	0.11%
Ameren CorpAEE	SPVM +0.57 points	0.69%	0.12%
Northern Trust CorpNTRS	SPVM +0.57 points	0.70%	0.13%
DuPont de Nemours IncDD	SPVM +0.56 points	0.64%	0.08%
CMS Energy CorpCMS	SPVM +0.57 points	0.65%	0.08%
Dow IncDOW	SPVM +0.56 points	0.64%	0.08%
DTE Energy CoDTE	SPVM +0.53 points	0.64%	0.11%
NiSource IncNI	SPVM +0.53 points	0.61%	0.08%
Halliburton CoHAL	SPVM +0.52 points	0.63%	0.11%
Nucor CorpNUE	SPVM +0.51 points	0.73%	0.22%
Bank of America CorpBAC	VYM +0.49 points	1.01%	1.50%
Xcel Energy IncXEL	SPVM +0.48 points	0.67%	0.19%
CenterPoint Energy IncCNP	SPVM +0.49 points	0.59%	0.10%
FedEx CorpFDX	SPVM +0.47 points	0.74%	0.27%
Dominion Energy IncD	SPVM +0.46 points	0.69%	0.23%
American Electric Power Co IncAEP	SPVM +0.45 points	0.72%	0.27%
Kinder Morgan IncKMI	SPVM +0.44 points	0.69%	0.25%
Duke Energy CorpDUK	SPVM +0.42 points	0.80%	0.38%
SempraSRE	SPVM +0.37 points	0.59%	0.22%
Crh PLCCRH	SPVM +0.35 points	0.59%	0.24%
General Dynamics CorpGD	SPVM +0.31 points	0.67%	0.36%
PACCAR IncPCAR	SPVM +0.31 points	0.55%	0.24%
Walt Disney Co/TheDIS	SPVM +0.29 points	1.07%	0.78%
Baker Hughes CoBKR	SPVM +0.30 points	0.53%	0.23%
Bank of New York Mellon Corp/TheBNY	SPVM +0.29 points	0.71%	0.42%
ConocoPhillipsCOP	SPVM +0.28 points	0.93%	0.65%
Newmont CorpNEM	SPVM +0.27 points	0.79%	0.52%
Verizon Communications IncVZ	SPVM +0.19 points	1.01%	0.82%
Citigroup IncC	SPVM +0.13 points	1.05%	0.92%
Bristol-Myers Squibb CoBMY	SPVM +0.11 points	0.65%	0.54%
Wells Fargo & CoWFC	SPVM +0.08 points	1.11%	1.03%

All 101 SPVM holdings⁠All 589 VYM 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.

SPVM vs VYM Cost

Overpaying SPVM vs VYM

$7,049

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

SPVM 0.39%
$7,898
VYM 0.04%
$849

Amount$10,000

Years30 years

Cost over time

SPVM 0.39%
VYM 0.04%
Overpaying

Year by year

Year	SPVM	VYM	Overpaying
10	$705	$73	$632
20	$2,725	$288	$2,437
30	$7,898	$849	$7,049

Expense ratio

0.39%SPVM
0.04%VYM, cheaper

VYM0.04%SPVM0.39%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

VYM cheapest of 99 funds

SPVM 64th cheapest of 99 funds

SPVM vs VYM Dividends

Last 12 months to Oct 30, 2026

Yield (12M): SPVM 1.81%; VYM 2.24%, better
Payout (12M): SPVM $1.41; VYM $3.68
Last payment: SPVM $0.38; VYM $0.89
Ex-dividend: SPVM Sep 21, 2026; VYM Sep 18, 2026
Paid on: SPVM Sep 25, 2026; VYM Sep 22, 2026
Frequency: SPVM Quarterly; VYM Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

SPVMQuarterly · 39 paymentsAll SPVM payments⁠

VYMQuarterly · 39 paymentsAll VYM payments⁠

SPVM vs VYM Risk

Fall from peak · 5 years

SPVM
VYM

Risk facts

VolatilityStd dev, 3 years: SPVM 13.3%VYM 11.1%, better
Return per unit of riskSharpe ratio, 3 years: SPVM 1.19VYM 1.38, better
Worst fallMax drawdown, 5 years: SPVM −19.5%VYM −15.9%, better
Market sensitivityBeta, 5 years: SPVM 0.69VYM 0.75; Market = 1

SPVM and VYM in the news

All news⁠

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Schwab's dividend ETF returned 22.8% in a year. Its income rate still trails a one-month bill.
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Category Review
US multifactor funds ran 30 points apart
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SPVM vs VYM

In short

Stated mandate

Why people hold it