QVMM
Invesco S&P MidCap 400 QVM Multi-factor ETF
QVMM tracks a market-cap-weighted index of US midcap stocks that exhibit strong quality, value, and momentum based on a multi-factor score.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
339.9 M
ASSETS UNDER MGMT
15 bp
EXPENSES
Fund Basics
| Fund sponsor | Invesco |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Jun 30, 2021 |
| Assets (mns) | $340 |
| Expense ratio | 15 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Multi-Factor |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| COHERENT CORP | 1.6 % |
| TEXAS PACIFIC LAND CORPORATION | 1.0 % |
| EMCOR GROUP INC | 0.9 % |
| REGAL BELOIT CORP | 0.8 % |
| CARLISLE COS INC | 0.8 % |
| LENNOX INTERNATIONAL INC | 0.7 % |
| INTERACTIVE BROKERS GRO-CL A | 0.7 % |
| XPO LOGISTICS INC | 0.7 % |
| RELIANCE STEEL & ALUMINUM | 0.7 % |
| OWENS CORNING | 0.6 % |
Constituent Breakdown
| Number of holdings | 352 |
| Herfindahl-Hirschman Index | 38 |
| Wgt avg mkt cap (mns) | $9,339 |
| Large cap (>$10bn) | 38.0% |
| Mid cap ($2-10bn) | 60.9% |
| Small cap (<$2bn) | 0.6% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 95.1 % |
 |
CANADA | 1.1 % |
 |
BRITAIN | 1.0 % |
 |
BERMUDA | 1.0 % |
Historical Performance
Standardized Performance (as of 03/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 10.6% | 24.4% | 8.4% | -- | -- | -- | 7.8% | Volatility | 15.5% | 16.1% | 17.2% | 20.0% | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.04 | 79% |
| MSCI EAFE | 0.99 | 74% |
| MSCI Emg Mkts | 0.69 | 35% |
Liquidity Measures
| Avg. volume (000) | 1 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.27% |
| ADV of underlying (mns) | $22,888 |
Technical Indicators
| Recent close | $30.46 |
| 30d moving avg. | $28.93 |
| Annualized volatility | 20.4% |
| Relative strength (RSI) | 52 |
| Short interest (ETF) | 0.0% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. QVMM |
Expenses vs. QVMM |
ALTAR Score™ vs. QVMM |
|---|---|---|---|---|
| MDY | SPDR S&P Midcap 400 ETF Trust | 89.9% | +9 bp | -0.5% |
| IJH | iShares Core S&P Mid-Cap ETF | 89.7% | -10 bp | -0.4% |
| XJH | iShares ESG Screened S&P Mid-Cap ETF | 87.0% | -3 bp | -0.3% |
| SPMD | SPDR Portfolio S&P 400 Mid Cap ETF | 87.0% | -12 bp | -0.3% |
| IVOO | Vanguard S&P Mid-Cap 400 ETF | 87.0% | -5 bp | -0.3% |
| MIDE | Xtrackers S&P MidCap 400 ESG ETF | 68.3% | 0 bp | +0.1% |
| IJJ | iShares S&P Mid-Cap 400 Value ETF | 62.0% | +3 bp | +0.2% |
| IJK | iShares S&P Mid-Cap 400 Growth ETF | 61.4% | +2 bp | -1.0% |
| MDYV | SPDR S&P 400 Mid Cap Value ETF | 61.4% | 0 bp | +0.3% |
| IVOV | Vanguard S&P Mid-Cap 400 Value ETF | 61.3% | 0 bp | +0.3% |
Risk and Returns: QVMM vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 11/21/2024
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
QVMM
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
ALTAR Score™
QVMM
6.6%
Cat. Avg
5.4%
ALTAR Score™ Calculation
Category Overview
There are 973 funds in the US Equity category, with an average ALTAR Score™
of 5.4% and a standard deviation of
2.4%. QVMM's ALTAR Score™ is approximately
0.5 standard deviations
above
the category average. This places QVMM in the 70th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
QVMMSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| QVMM (15 bp) Percentile rank | 17 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| QVMM | 15.0 | 27.2 | 42.2 |
| Peer Avg. | 29.7 | 13.9 | 43.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .