Invesco S&P 500 Concentrated QVM ETF

Invesco S&P 500 Concentrated QVM ETF (QVMT) tracks the S&P 500 Quality, Value & Momentum Multi-factor Index. That index picks the 100 S&P 500 stocks that score highest on three traits combined: business quality, low price relative to fundamentals, and strong recent price trends. Its 0.13% expense ratio was the lowest of nine similar funds compared, against a peer average of 0.38%. The trade-off is a narrower portfolio that can lag the broad market.

• Over the year to Oct 27, 2026, QVMT returned +16.8%, 8th of 9 among similar funds.
• Its 5-year annualized return was +10.9%.
• Its worst full calendar year was 2022 (-5.6%); its best was 2021 (+35.3%).
• The deepest fall in its price history was 22% (Jan 14, 2022 to Sep 30, 2022), recovered by Jan 2, 2024.

As of Aug 31, 2026, the fund held 100 securities; the ten largest made up 42.58% of assets.

By sector

• Over the three months to Aug 31, 2026, investors withdrew a net $1.5M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +5.87%, -7.25%, +0.77%.

S&P Dow Jones Indices starts with the S&P 500 and gives each stock three scores. The quality score uses return on equity (profit relative to shareholders' money), the accruals ratio (how much of reported earnings is backed by cash) and financial leverage (how much debt a company carries). Banks and real estate companies are scored only on return on equity and leverage. The value score compares book value, earnings and sales with the share price. The momentum score looks at risk-adjusted price performance over a set past period. The three scores are averaged, and the 100 stocks with the highest averages generally make the index.

Each stock's weight depends on its float-adjusted market value (the value of shares available to the public) and its combined score. So big companies with high scores get the most weight. As of August 31, 2026, Apple was 5.3% of the fund and ExxonMobil 5.2%. Lam Research, Sandisk, Caterpillar and Cisco were each about 4.6%, and GE Vernova was 4.5%. The top 10 made up 42.6%.

The fund uses full replication, meaning it buys every stock in the index in proportion to its weight. It keeps at least 90% of assets in index stocks. It holds a stock that is doing poorly until the index removes it. Portfolio turnover was 31%. The fund was managed as diversified as of January 31, 2026, but it could become non-diversified if index weights shift. As of December 31, 2025, the index had significant exposure to financials.

• QVMT charges 0.13% a year, versus an average of 0.38% for the similar funds below (1st of 9, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $13 in the first year and $166 over 10 years (assuming a 5% annual return).

It is a 100-stock, three-factor slice of the S&P 500 that can trail the broad market for long stretches, so it fits better as a complement to a core holding than as a replacement for one.

Alongside a broad index fund, QVMT can add a tilt toward profitable, lower-priced stocks with rising prices. It costs 0.13% a year: $166 over 10 years on $10,000 in the SEC's standard example. The trailing yield was 1.7% as of October 27, 2026, paid quarterly. The fund launched in 2015, so it has no 2008 record. It lost 10.17% in 2020, its worst calendar year from 2016 through 2025, and 37.96% in the first quarter of 2020 alone. In the 2022 bear market it fell 22% between January 14 and September 30, 2022. It did not regain its earlier peak until January 2, 2024, about 15 months after the low. A retiree selling shares for cash during a stretch like that would lock in losses. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.