ETF Evaluator: Invesco S&P 500® Low Volatility ETF (SPLV) Follow This ETF

Invesco S&P 500® Low Volatility ETF Overview

Invesco S&P 500® Low Volatility ETF (SPLV) 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® Low Volatility 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, S&P Dow Jones Indices LLC (the “index Provider”) compiles, maintains and calculates the underlying index, which is designed to measure the performance of the 100 least volatile constituents of the S&P 500 ® Index over the past 12 months as determined by the index Provider.

About Invesco S&P 500® Low Volatility ETF (SPLV)

There are 3 members of the management team with an average tenure of 12.28 years: Peter Hubbard (2011), Michael Jeanette (2011) and Pratik Doshi (2019). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and S&P 500 Low Volatility TR USD index with a weighting of 100%. Invesco S&P 500® Low Volatility ETF has 106 securities in its portfolio. The top 10 holdings constitute 12.8% 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® Low Volatility ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Invesco S&P 500® Low Volatility ETF has 1.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 98.7% There is 1.1% 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® Low Volatility ETF has 0.1% of the portfolio in cash.

Assets Under Management

The fund has $7 billion in total assets, which is above 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.

SPLV 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® Low Volatility ETF expense ratio is below average compared to funds in the Large Value category. Invesco S&P 500® Low Volatility ETF has an expense ratio of 0.25%, which is 32% lower than its category average, making the fund expense ratio grade a B. 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® Low Volatility ETF has a portfolio turnover rate of 71%, which indicates that it holds its assets around / 0.0 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® Low Volatility ETF returned 3.9%, which earned it a grade of A, 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® Low Volatility ETF has a trailing yield of 2.14%, which is above the 1.74% category average. The fund normally distributes its income monthly.

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® Low Volatility ETF Grades

Year to date, the ETF has returned 6.1%, 5.8 percentage points worse than the category, which translates into a grade of F. The fund has returned 5.1% over the past year (grade of F), 8.3% over the past three years (grade of F) and 6.5% per year over the past five years (grade of F) and 8.0% per year over the past 10 years (grade of F).

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