Invesco S&P 500 Value with Momentum ETF

Invesco S&P 500 Value with Momentum ETF (SPVM) is an index fund that tracks the S&P 500 High Momentum Value Index. The index holds 100 S&P 500 stocks that look cheap on book value, earnings and sales and whose prices have also been rising. As of July 31, 2026, its largest holdings were insurers such as Allstate and Travelers, plus energy and utility stocks. Its 0.39% expense ratio is above the 0.29% average for similar funds.

• Over the year to Oct 27, 2026, SPVM returned +19.6%, 6th of 9 among similar funds.
• Its 5-year annualized return was +11.2%.
• Its worst full calendar year was 2022 (-2.1%); its best was 2021 (+28.9%).
• The deepest fall in its price history was 19.5% (Apr 20, 2022 to Sep 30, 2022), recovered by Mar 7, 2024.

As of Jul 31, 2026, the fund held 100 securities; the ten largest made up 15.74% of assets.

By sector

• Over the three months to Jul 31, 2026, investors added a net $1.3M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +1.69%, +2.59%, +3.83%.

S&P Dow Jones Indices builds the index from the S&P 500 in two steps. First, it gives each stock a value score based on three ratios: book value to price, trailing 12-month earnings to price, and trailing 12-month sales to price. Higher ratios mean a stock is cheaper compared with the size of its business. The 200 stocks with the highest value scores are then ranked by momentum. Momentum is the tendency of stocks that have been rising to keep doing better than others. Here it is measured as the price change over the last 12 months, leaving out the most recent month, with an adjustment for volatility. The top 100 make the index.

Stocks are weighted by value score, not by company size, so no single stock dominates. As of July 31, 2026, the largest positions were Allstate (1.8%), General Motors (1.8%), United Airlines (1.7%), Travelers (1.6%) and CVS Health (1.6%). The top 10 made up 15.7% of assets. As of June 30, 2026, company sizes ran from $10.4 billion to $877 billion, so the fund holds some mid-sized companies.

Invesco uses full replication, which means it holds nearly every stock in the index at its index weight. It held no derivatives as of July 31, 2026, and it uses no leverage or options. Because the screens are rerun each time the index rebalances, holdings change often. The prospectus reports portfolio turnover of 58%.

• SPVM charges 0.39% a year, versus an average of 0.29% for the similar funds below (7th of 9, cheapest first).
• Of that, 0.29% is the management fee; the rest covers other fund expenses.
• The fee includes a 0.05% waiver from the adviser, which may end.
• Using the prospectus's standard example, $10,000 invested would cost about $40 in the first year and $544 over 10 years (assuming a 5% annual return).

It weights cheap, rising S&P 500 stocks by value score, which leans it toward financials, energy and utilities rather than the companies that make up most of a cap-weighted index.

SPVM could add a value tilt to a portfolio built around a broad stock index fund. Its record in downturns is mixed. The prospectus shows a 34.25% loss in the first quarter of 2020. In the 2022 bear market, the fund fell 19.5% from April to September 2022 and took about 17 months to recover, until March 2024, even though its loss for calendar 2022 was only 2.03%. Its worst calendar year since 2016 was 2018, at -8.59%. Anyone selling shares to fund spending in early 2020 would have sold at sharply lower prices.

The trailing yield was 1.84% as of October 27, 2026, paid quarterly. In the SEC's standard example, costs on $10,000 come to $40 in the first year and $544 over 10 years. Past results don't predict future returns, and a plan should look at the whole portfolio, not one fund.

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