SPVU vs SPY
SPVU vs SPY
Invesco S&P 500 Enhanced Value 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 503 holdings.
Side-by-Side Comparison
| Metric | SPVU | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.13% | 0.09% | |
| AUM | $111M | $789.1B | |
| Dividend Yield | 2.46% | 1.01% | |
| Holdings | 101 | 505 | |
| YTD Return | +6.64% | +13.79% | |
| 1Y Return | +20.22% | +23.66% | |
| 3Y Return (annualized) | +15.36% | +21.40% | |
| 5Y Return (annualized) | +12.97% | +13.37% | |
| Volatility (annualized) | 20.1% | 15.3% | |
| Max Drawdown | -51.7% | -56.5% | |
| Fund Family | Invesco (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Oct 9, 2015 | Jan 22, 1993 |
SPVU vs SPY Performance
Invesco S&P 500 Enhanced Value ETF (SPVU) 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 SPVU returned +20.22% while SPY returned +23.66%. Year to date, SPVU is up 6.64% versus a gain of 13.79% for SPY.
Over three years, SPVU compounded at +15.36% per year against +21.40% for SPY; over five years the annualized figures are +12.97% and +13.37% respectively. Across the full 10-year window we track, SPVU has the edge at +11.48% annualized vs +8.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPVU has been the more volatile fund, with annualized monthly volatility of 20.1% 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 -51.7% for SPVU 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 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPVU charges 0.13% per year while SPY charges 0.09%. On a $10,000 position that is $13 vs $9 annually, a gap of $4 per year that compounds over a long holding period. On income, SPVU currently yields 2.46% against 1.01% for SPY.
Holdings Overlap
SPVU and SPY share 92 holdings out of 511 unique holdings combined, representing a 10.4% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in SPVU | Weight in SPY | Difference |
|---|---|---|---|
| BRK.B | 4.80% | 1.43% | 3.37% |
| UNH | 5.59% | 0.59% | 5.00% |
| BAC | 5.25% | 0.60% | 4.65% |
| XOM | Pro | Pro | Pro |
| WFC | Pro | Pro | Pro |
| CVX | Pro | Pro | Pro |
| C | Pro | Pro | Pro |
| VZ | Pro | Pro | Pro |
| CVS | Pro | Pro | Pro |
| CMCSA | Pro | Pro | Pro |
See all 10 holdings SPVU shares with SPY Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, SPVU or SPY?
SPVU has an expense ratio of 0.13% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $4 per year of difference.
Which performed better, SPVU or SPY?
Over the past year SPVU returned +20.22% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (10 years), SPVU annualized +11.48% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, SPVU or SPY?
SPVU has been the more volatile fund at 20.1% annualized versus 15.3% for SPY. Worst drawdown: SPVU -51.7% vs SPY -56.5%.
Should I hold both SPVU and SPY?
SPVU and SPY have a monthly-return correlation of 0.81, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPVU and SPY?
SPVU and SPY share 92 common holdings with a 10.4% weight overlap. Combined, they hold 511 unique securities.
Which pays a higher dividend, SPVU or SPY?
SPVU yields 2.46% while SPY yields 1.01%, so SPVU currently pays the higher dividend yield.
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