At a glance
EELV charges 0.29% a year, above the 0.27% average of the 4 funds most like it (the 4th cheapest of 5). It has $427.8M in assets, the 4th largest of that group; it paid 4.37% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +8.4% with distributions reinvested (S&P 500: +11.5%), 4th of those 5 funds; over three years it returned +13.7% a year. At its worst it fell 29.5% in the 2020 crash (S&P 500: 33.7%) and 18.0% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 9 months and 19 months after the lows. Its ten largest positions make up 8.3% of the fund, out of 201 in all.
The short version
Invesco S&P Emerging Markets Low Volatility ETF (EELV) tracks the S&P BMI Emerging Markets Low Volatility Index. The index holds the 200 emerging-market stocks with the smallest price swings over the past year, which tilts it toward banks, telecoms and other steadier companies in Taiwan, Malaysia and Saudi Arabia. It yielded 4.37% over the 12 months to October 27, 2026, but its 0.29% fee is well above broad funds such as VWO (0.07%).
Price history
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EELV +8.4% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| EELV official prospectus, to Dec 31, 2025 | — | +21.39% | — | +8.44% | +6.89% | — |
| EELV price data to Oct 27, 2026 | +5.8% | +8.4% | +13.7% | +6.6% | +6.5% | +4.3% |
- Over the year to Oct 27, 2026, EELV returned +8.4%, 4th of 5 among similar funds.
- Its 5-year annualized return was +6.6% and its 10-year +6.5%.
- In the 2020 COVID crash it fell 29.5% and regained its old high 8.9 months after the low.
- Its worst full calendar year was 2015 (-18.8%); its best was 2017 (+24.8%).
- The deepest fall in its price history was 36.3% (Jan 26, 2018 to Mar 19, 2020), recovered by Apr 19, 2021.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +5.8% | — |
| 2025 | +22.0% | +21.39% |
| 2024 | +1.9% | +2.06% |
| 2023 | +8.8% | +9.53% |
| 2022 | -4.0% | -3.65% |
| 2021 | +16.2% | +14.71% |
| 2020 | -3.8% | -2.51% |
| 2019 | +8.8% | +8.26% |
| 2018 | -5.3% | -5.71% |
| 2017 | +24.8% | +24.53% |
| 2016 | +5.3% | +4.73% |
| 2015 | -18.8% | — |
| 2014 | -4.9% | — |
| 2013 | -1.8% | — |
| 2012 | +17.6% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 29.5% over that stretch · deepest drop along the way 29.5%, back to its old high 8.9 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 12.1% over that stretch · deepest drop along the way 18%, back to its old high 19.1 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.1200 | |
| 2025 | $1.0300 | -5.5% |
| 2024 | $1.0900 | +13.5% |
| 2023 | $0.9600 | +20.0% |
| 2022 | $0.8000 | -25.9% |
| 2021 | $1.0800 | +68.8% |
| 2020 | $0.6400 | -13.5% |
| 2019 | $0.7400 | -40.8% |
| 2018 | $1.2500 | +71.2% |
| 2017 | $0.7300 | +52.1% |
| 2016 | $0.4800 | -7.7% |
| 2015 | $0.5200 | -37.3% |
| 2014 | $0.8300 | +43.1% |
| 2013 | $0.5800 | +107.1% |
| 2012 | $0.2800 |
What's inside
As of Jul 31, 2026, the fund held 201 securities; the ten largest made up 8.35% of assets, and 2.49% sat in cash and money-market holdings.
| Holding | Weight | |
|---|---|---|
| Taiwan Cooperative Financial Holding Co., Ltd. | 1.03% | |
| TISCO Financial Group PCL | 0.93% | |
| Kuwait Finance House K.S.C.P. | 0.90% | |
| Borouge PLC | 0.86% | |
| Chunghwa Telecom Co., Ltd. | 0.79% | |
| Mega Financial Holding Co., Ltd. | 0.79% | |
| Chang Hwa Commercial Bank, Ltd. | 0.78% | |
| Taiwan High Speed Rail Corp. | 0.77% | |
| First Financial Holding Co., Ltd. | 0.76% | |
| Boubyan Bank K.S.C.P | 0.75% | |
| Taiwan Business Bank | 0.74% | |
| Shanghai Commercial & Savings Bank, Ltd. (The) | 0.74% | |
| Taichung Commercial Bank Co. Ltd. | 0.73% | |
| STARLUX Airlines Co., Ltd. | 0.72% | |
| Saudi Telecom Co. | 0.70% |
By country
Taiwan 18.91%Malaysia 10.83%Saudi Arabia 10.63%China 10.12%South Africa 7.32%By asset type
Stocks 97.88%Preferred stock 1.35%What changed recently
- Over the three months to Jul 31, 2026, investors withdrew a net $12.8M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -1.18%, -0.78%, +3.30%.
How it works
S&P Dow Jones Indices builds the index from two larger ones. The first is the S&P Emerging Plus LargeMidCap, made up of emerging-market companies whose publicly traded shares are worth at least $100 million. The second is the S&P DR Composite Index, made up of depositary receipts. These are certificates that let foreign shares trade on exchanges such as the NYSE, Nasdaq and the London Stock Exchange. From these two indexes it picks the 200 stocks with the lowest volatility over the past year. Volatility measures how sharply a price moves up and down. The steadiest stocks get the largest weights, and company size doesn't set the weights.
As of December 31, 2025, the index held 200 stocks from 20 countries. As of July 31, 2026, the fund had 201 holdings, and the top 10 made up just 8.35% of assets. The largest was Taiwan Cooperative Financial Holding at about 1.0%, followed by TISCO Financial Group in Thailand and Kuwait Finance House. Taiwan made up 18.9% of the fund, Malaysia 10.8%, Saudi Arabia 10.6% and China 10.1%.
The fund uses full replication, meaning it buys every stock in the index at its index weight. It doesn't try to beat the index. It trades only when stocks enter or leave the index, and it had 68% portfolio turnover (the share of the portfolio replaced in a year). The fund uses no leverage, options or swaps. It held 2.49% in cash and a very small futures position.
What it really costs
- EELV charges 0.29% a year, versus an average of 0.27% for the similar funds below (4th of 5, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $30 in the first year and $368 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| EELV | $30 | $93 | $163 | $368 |
In a retirement portfolio
It adds emerging-market stocks chosen for steadier prices, which differ from US holdings in country, sector and currency exposure.
EELV could add emerging-market stocks with smaller swings than the broader asset class, though it still fell hard in crises. It launched in 2012, so it has no record for 2008. In the 2020 COVID crash it fell 29.5% in a month and took about nine months to recover. In 2022 it fell 18% and needed about 19 months to recover. Its deepest drop was 36.3%, from January 2018 to March 2020, and it didn't recover until April 2021. Its worst calendar year was 2015, when it lost 18.8%. Anyone who had to sell shares during those stretches would have locked in losses. The fund pays quarterly and yielded 4.37% as of October 27, 2026. In the SEC's standard example, $10,000 invested costs about $30 in the first year. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want emerging-market stocks with smaller swings, through 200 low-volatility names led by Taiwanese, Thai and Kuwaiti financial firms.
- Investors looking for income who are comfortable with quarterly payouts that can vary; it yielded 4.37% over 12 months as of October 27, 2026.
- Those who prefer a widely spread portfolio: the top 10 holdings made up only 8.35% of assets as of July 31, 2026.
Look elsewhere if
- Cost-focused investors: its 0.29% expense ratio compares with 0.07% for VWO and 0.09% for IEMG.
- Investors hoping to keep up with emerging-market rallies: its 13.7% annualized three-year return trailed all four similar funds as of late October 2026.
- Anyone who can't tolerate deep losses: low volatility didn't stop a 29.5% fall in 2020 or a 36.3% peak-to-trough drop.
Close alternatives
Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| EELV this fund | — | 0.29% | $427.8M | +8.4% | +13.7% |
| QLVE FlexShares Emerging Markets Quality Low Vol… | 19% | 0.18% | $16.8M | +12.2% | +18.5% |
| VWO Vanguard FTSE Emerging Markets ETF | 12% | 0.07% | $162.04B | +3.3% | +16.8% |
| EEM iShares MSCI Emerging Markets ETF | 12% | 0.72% | $31.21B | +12.7% | +20.3% |
| IEMG iShares Core MSCI Emerging Markets ETF | 10% | 0.09% | $160.90B | +11.7% | +19.8% |
Questions investors ask
Is EELV good for retirement income?
It can supply some income, but it's a stock fund first. EELV pays dividends quarterly. Over the 12 months to October 27, 2026, it paid $1.22 per share, a yield of 4.37%. Dividends from emerging-market companies can rise or fall with their profits and with exchange rates against the dollar. The share price can also drop sharply: the fund fell 29.5% in the 2020 COVID crash. That matters for anyone who may need to sell shares in a bad year.
What's the difference between EELV and QLVE?
Both hold low-volatility emerging-market stocks, but QLVE, from FlexShares, also screens for company quality. They share only about 19% of their holdings. QLVE is cheaper, at 0.18% a year against 0.29% for EELV. As of October 27, 2026, QLVE had returned 12.2% over one year and 18.5% a year over three years, against 8.4% and 13.7% for EELV. QLVE is much smaller, with $16.8 million in net assets compared with EELV's $427.8 million as of July 31, 2026.
EELV vs VWO: what's the difference?
VWO, from Vanguard, holds a broad set of emerging-market stocks weighted by company size. EELV holds only the 200 stocks with the steadiest prices and gives the steadiest ones the largest weights. VWO costs 0.07% a year, compared with 0.29% for EELV. Over three years, VWO returned 16.8% a year as of October 30, 2026, while EELV returned 13.7% as of October 27. Over one year, EELV led, with 8.4% against 3.3% for VWO. The two funds share only about 12% of their holdings.
How often does EELV pay dividends?
EELV pays dividends quarterly. Over the 12 months to October 27, 2026, it paid $1.22 per share, a yield of 4.37% based on its share price. Payouts aren't fixed. They depend on the dividends its 200-plus emerging-market companies pay, and many of those are banks and telecom firms. They also depend on exchange rates, since foreign dividends are converted into US dollars.
How has EELV performed over 10 years?
EELV returned an average of 6.89% a year over the 10 years to December 31, 2025, according to its prospectus. Its five-year average was 8.44% and its one-year return was 21.39%. Results swung widely from year to year: it gained 24.53% in 2017 and lost 5.71% in 2018. Its weakest quarter was the first quarter of 2020, when it fell 25.15%. Based on price, its 10-year annualized return was 6.5% as of October 27, 2026.