ETF Evaluator:
Invesco S&P 500 GARP ETF (SPGP)
Follow This ETF
(as of Jul 30)
Best Performing in Large Value Over the Last Year
| 80.0% | iShares MSCI USA Value Factor ETF (VLUE) |
| 37.2% | Invesco S&P S&P 500 Concentrated QVM ETF (QVMT) |
| 36.6% | SEI QiM U.S. Lrg Cap Value Actv ETF (SEIV) |
| 35.3% | Avantis US Large Cap Value ETF (AVLV) |
| 35.1% | LSV Disciplined Value ETF (LSVD) |
Risk
Index
Risk
Index
ETF Details
Invesco S&P 500 GARP ETF Overview
Invesco S&P 500 GARP ETF (SPGP) is a passively managed U.S. Equity Large Value exchange-traded fund (ETF). Invesco launched the ETF in 2011.
The investment seeks to track the investment results (before fees and expenses) of the S&P 500® GARP Index (the "underlying index").
The fund generally will invest at least 90% of its total assets in the securities that comprise the underlying index. Strictly in accordance with its guidelines and mandated procedures, the index provider compiles, maintains and calculates the underlying index, which is designed to track the performance of approximately 75 growth stocks in the S&P 500® Index with relatively high quality and value composite scores.
About Invesco S&P 500 GARP ETF (SPGP)
There are 3 members of the management team with an average tenure of 11.98 years: Peter Hubbard (2011), Michael Jeanette (2011) and Pratik Doshi (2020). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: S&P 500 GARP TR USD index with a weighting of 100% and S&P 500 (TR) (1970) index with a weighting of 100%. Invesco S&P 500 GARP ETF has 77 securities in its portfolio. The top 10 holdings constitute 20.9% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Invesco S&P 500 GARP ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Invesco S&P 500 GARP ETF has 2.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 97.7% There is 2.3% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Invesco S&P 500 GARP ETF has 0.0% of the portfolio in cash.
Assets Under Management
The fund has $2 billion in total assets, which is below the $5 billion average for the Large Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
SPGP Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Invesco S&P 500 GARP ETF expense ratio is below average compared to funds in the Large Value category. Invesco S&P 500 GARP ETF has an expense ratio of 0.36%, which is 2% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Invesco S&P 500 GARP ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 41% for the Large Value category.
Recently, in the month of June 2026, Invesco S&P 500 GARP ETF returned 2.1%, which earned it a grade of B, as the Large Value category had an average return of 1.1%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Invesco S&P 500 GARP ETF has a trailing yield of 0.82%, which is below the 1.74% category average.
The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Invesco S&P 500 GARP ETF Grades
Year to date, the ETF has returned 8.0%, 3.8 percentage points worse than the category, which translates into a grade of F. The fund has returned 14.5% over the past year (grade of F), 11.9% over the past three years (grade of F) and 8.2% per year over the past five years (grade of F) and 15.3% per year over the past 10 years (grade of A).
For more ETF grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about Invesco S&P 500 GARP ETF, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
SPGP Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| SPGP Return (NAV) | 2.1% | 13.9% | 14.5% | 11.9% | 8.2% | 15.3% |
| SPGP Return (Price) | 2.0% | 13.9% | 14.6% | 11.9% | 8.2% | 15.3% |
| NAV +/- Price Return | 0.017% | 0.006% | -0.005% | -0.004% | 0.019% | -0.025% |
| Large Value Avg | 1.1% | 9.8% | 22.0% | 16.7% | 11.0% | 12.2% |
| SPGP Grade (NAV) | B | B | F | F | F | A |
| +/- Category (NAV) | 0.9% | 4.1% | -7.4% | -4.8% | -2.8% | 3.1% |
| SPGP Tax-Cost Ratio | na | na | 0.4% | 0.4% | 0.4% | 0.4% |
SPGP Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SPGP Return (NAV) | 8.0% | 9.8% | 8.5% | 20.3% | -13.8% | 35.6% | 15.9% | 39.3% | 1.8% | 35.8% | -0.5% |
| SPGP Return (Price) | 8.0% | 9.8% | 8.5% | 20.3% | -13.8% | 35.7% | 16.0% | 39.2% | 1.7% | 36.2% | -1.2% |
| NAV +/- Price Ret | -0.003% | -0.002% | -0.004% | -0.001% | -0.000% | 0.003% | 0.001% | -0.3% | -5.9% | 1.1% | 141.6% |
| Large Value Avg | 11.9% | 14.8% | 15.5% | 13.1% | -6.5% | 26.7% | 5.4% | 27.4% | -6.6% | 17.7% | 15.7% |
| SPGP Grade (NAV) | F | F | F | A | F | A | A | A | A | A | F |
| +/- Category | -3.8% | -5.0% | -7.0% | 7.2% | -7.3% | 8.9% | 10.5% | 11.9% | 8.4% | 18.2% | -16.2% |
| Risk Measures | |
| Beta: | 0.94 |
| R-Squared: | 76% |
| Standard Deviation: | 14.1% |
| Category Risk Index: | 1.16 |
| Category Risk Rating: | High |
| Total Risk Index: | 1.16 |
| Total Risk Rating: | Average |
| Portfolio Characteristics | |
| Yield: | 0.8% |
| Total Assets: | $ 2,189 Mil |
| Share Class Assets: | $ 2,189 Mil |
| Turnover: | na |
| Expense Ratio: | 0.36% |
| Index Fund: | Yes |
| Index Tracked: | S&P 500 GARP TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 15.1 years | |||
| Average Tenure: 12.0 years | |||
| Managers (Year): Hubbard Peter (2011), Jeanette Michael (2011), Doshi Pratik (2020) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 77 |
| % in Top 10 Holdings: | 20.9% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 2.3% |
Portfolio Allocation |
|
| Domestic Stock: | 97.7% |
| Foreign Stock: | 2.3% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Invesco |
| Phone Number: | 800-983-0903 |
| Website: | www.invescopowershares.com |
| Inception Date: | June 16, 2011 |
Expenses and Fees
| Expense Ratio (%): | 0.36% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.37% |
