At a glance
EVMT charges 0.59% a year. It has $7.1M in assets; it paid 11.86% of its price in distributions over the past 12 months, annual. Over the past year it returned +8.3% with distributions reinvested (S&P 500: +11.5%); over three years it returned +3.7% a year.
The short version
Invesco Electric Vehicle Metals Commodity Strategy No K-1 ETF (EVMT) uses futures contracts, held through a Cayman Islands subsidiary, to follow prices of electric vehicle metals such as copper, aluminum, nickel and lithium. It is actively managed to try to beat the S&P GSCI Electric Vehicle Metals Index, is set up to avoid K-1 partnership tax forms, and charges 0.59% a year. Net assets were just $7.1 million as of July 31, 2026.
Price history
The interactive chart needs JavaScript.
EVMT +8.3% 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 | |
|---|---|---|---|---|---|---|
| EVMT official prospectus, to Dec 31, 2025 | — | +29.98% | — | — | — | -9.41% |
| EVMT price data to Oct 27, 2026 | -0.6% | +8.3% | +3.7% | — | — | -7.8% |
- Over the year to Oct 27, 2026, EVMT returned +8.3%.
- Its worst full calendar year was 2023 (-27.7%); its best was 2025 (+30.5%).
- The deepest fall in its price history was 47.7% (Apr 28, 2022 to Apr 8, 2025), not yet recovered.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -0.6% | — |
| 2025 | +30.5% | +29.98% |
| 2024 | -10.5% | -10.26% |
| 2023 | -27.7% | -27.29% |
| 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 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2025 | $2.0000 | +277.4% |
| 2024 | $0.5300 | -43.0% |
| 2023 | $0.9300 |
What's inside
As of Jul 31, 2026, the fund held 0 securities; the ten largest made up 0% of assets, and 91.81% sat in cash and money-market holdings.
| Holding | Weight |
|---|
By country
By asset type
What changed recently
- Over the three months to Jul 31, 2026, investors added a net $1.9M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +1.74%, -9.88%, +1.85%.
How it works
EVMT is actively managed, which means Invesco picks positions instead of copying an index. It targets metals widely used in electric vehicles, including iron ore, copper, aluminum, nickel, cobalt and lithium. It measures itself against the S&P GSCI Electric Vehicle Metals Index. That index weights each metal roughly by how much of it goes into a typical electric vehicle, adjusted for how easily each one trades. Because EVMT aims to beat that index, it can skip metals, use later-dated contracts or favor some metals.
A futures contract is an agreement to trade a set amount of a commodity at a fixed price on a future date. Tax rules limit how much a fund like this can hold in futures directly. So EVMT holds them through a wholly owned Cayman Islands subsidiary, which can make up no more than 25% of the fund's total assets at each quarter-end. The fund owns no physical metal. It may also use swaps, options, forward contracts and commodity-linked notes.
Futures need only a deposit, so most of the money sits in collateral such as Treasury bills and money market funds. As of July 31, 2026, about 92% of assets were in cash and similar holdings. The rest of the exposure came from 10 derivative positions, including London Metal Exchange copper, aluminum and nickel futures and lithium hydroxide futures. Expiring contracts must be replaced with later ones, and this rollover can help or hurt returns.
What it really costs
- EVMT charges 0.59% a year.
- The fee includes a 0.15% waiver from the adviser, which may end.
- Using the prospectus's standard example, $10,000 invested would cost about $60 in the first year and $905 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| EVMT | $60 | $221 | $397 | $905 |
In a retirement portfolio
It is a narrow, volatile bet on a handful of electric vehicle metals, and its price fell 47.7% from April 2022 and had not recovered as of October 27, 2026.
EVMT adds exposure to electric vehicle metal prices, but its record is short and rough. It launched in April 2022, after the 2022 stock market slide had begun. So it has no record for 2008, 2020 or that full decline. Its worst calendar year was 2023, with a 27.29% loss. Its price fell 47.7% from April 28, 2022, to April 8, 2025, and had not regained that peak by October 27, 2026. Anyone who had to cash out during that stretch could have locked in deep losses.
Its annual distribution came to $2 per share over the year to October 27, 2026, a trailing yield of 11.86%. A futures fund's payout can change sharply, though, and may not repeat. The fund costs 0.59% a year, or $60 on $10,000 over one year in the SEC's standard example. Past results don't predict the future, and a retirement plan needs to weigh the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting a small, deliberate position in futures on copper, lithium, nickel and other electric vehicle metals rather than in automaker or mining shares.
- Holders of taxable accounts who want commodity futures exposure without the K-1 partnership tax forms that some commodity funds send.
- People comfortable with sharp swings, such as a 27.29% loss in 2023 and a 29.98% gain in 2025, who can hold for years.
Look elsewhere if
- Retirees who may need to draw cash soon: a 47.7% price drop from April 2022 had not been recovered as of October 27, 2026.
- Income seekers: the 11.86% trailing yield as of October 27, 2026, reflects one annual payout from a futures fund, not steady dividends.
- Those wary of tiny funds: net assets were about $7.1 million as of July 31, 2026, and very small funds can be closed.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
No close alternatives found.
Questions investors ask
Is EVMT good for retirement?
At most, it may fit as a small, higher-risk satellite position. EVMT is a narrow bet on electric vehicle metals with a short, bumpy record. It lost 27.29% in 2023 and 10.26% in 2024, then gained 29.98% in 2025. That averages out to a loss of 9.41% a year from launch through December 31, 2025. Its price fell 47.7% from April 28, 2022, to April 8, 2025, and had not regained that peak as of October 27, 2026.
Does EVMT pay a dividend?
Yes, once a year, but it isn't a typical dividend. EVMT paid $2 per share over the year to October 27, 2026. That works out to a trailing yield of 11.86%, meaning the past year's payout divided by the share price. Commodity futures pay no dividends, so payouts from a fund like this generally come from trading gains and interest on cash collateral. The amount can change sharply from one year to the next and may not repeat.
What does EVMT actually hold?
Mostly cash and similar collateral, plus futures on electric vehicle metals. As of July 31, 2026, about 92% of assets were in cash. The fund's exposure came from 10 derivative positions, including London Metal Exchange copper, aluminum and nickel futures and lithium hydroxide futures. Futures need only a deposit, so the cash serves as collateral backing the contracts. The futures are held through a Cayman Islands subsidiary that can make up no more than 25% of the fund's total assets at each quarter-end.
What does No K-1 mean in EVMT's name?
It means the fund is set up so shareholders don't receive a Schedule K-1. That is the partnership tax form some commodity funds issue, and it can arrive late and complicate tax filing. EVMT holds its futures through a Cayman Islands subsidiary. The prospectus ties this setup to federal tax limits on how much funds like this can hold in such contracts directly. The fund and its subsidiary are still regulated as commodity pools under the Commodity Exchange Act and Commodity Futures Trading Commission rules.
What is EVMT's expense ratio?
EVMT's expense ratio is 0.59% a year, according to its prospectus filed February 26, 2026. The SEC's standard example assumes $10,000 invested, a 5% annual return and all shares cashed out at the end of each period. On that basis, total costs come to $60 after one year, $221 after three years, $397 after five years and $905 after 10 years. These costs are taken out of the fund's assets, not billed separately.