BMVP vs SPY
Invesco Bloomberg MVP Multi-factor ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | BMVP | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.29% | 0.09% | |
| AUM | $106M | $821.1B | |
| Dividend Yield | 1.71% | 1.01% | |
| Holdings | 58 | 505 | |
| YTD Return | +12.64% | +13.17% | |
| 1Y Return | +14.43% | +21.53% | |
| 3Y Return (annualized) | +15.14% | +22.06% | |
| 5Y Return (annualized) | +8.13% | +13.35% | |
| Volatility (annualized) | 15.6% | 15.3% | |
| Max Drawdown | -53.4% | -56.5% | |
| Fund Family | Invesco (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | May 1, 2003 | Jan 22, 1993 |
BMVP vs SPY Performance
Invesco Bloomberg MVP Multi-factor ETF (BMVP) is a ETF from Invesco (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year BMVP returned +14.43% while SPY returned +21.53%. Year to date, BMVP is up 12.64% versus a gain of 13.17% for SPY.
Over three years, BMVP compounded at +15.14% per year against +22.06% for SPY; over five years the annualized figures are +8.13% and +13.35% respectively. Across the full 23-year window we track, SPY has the edge at +8.82% annualized vs +7.67%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
BMVP has been the more volatile fund, with annualized monthly volatility of 15.6% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -53.4% for BMVP and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.91. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
BMVP charges 0.29% per year while SPY charges 0.09%. On a $10,000 position that is $29 vs $9 annually, a gap of $20 per year that compounds over a long holding period. On income, BMVP currently yields 1.71% against 1.01% for SPY.
Holdings Overlap
BMVP and SPY share 54 holdings out of 506 unique holdings combined, representing a 10.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, BMVP or SPY?
BMVP has an expense ratio of 0.29% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $20 per year of difference.
Which performed better, BMVP or SPY?
Over the past year BMVP returned +14.43% vs +21.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (23 years), BMVP annualized +7.67% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, BMVP or SPY?
BMVP has been the more volatile fund at 15.6% annualized versus 15.3% for SPY. Worst drawdown: BMVP -53.4% vs SPY -56.5%.
Should I hold both BMVP and SPY?
BMVP and SPY have a monthly-return correlation of 0.91, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between BMVP and SPY?
BMVP and SPY share 54 common holdings with a 10.7% weight overlap. Combined, they hold 506 unique securities.
Which pays a higher dividend, BMVP or SPY?
BMVP yields 1.71% while SPY yields 1.01%, so BMVP currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.