QVMS

Invesco S&P SmallCap 600 QVM Multi-factor ETF

QVMS tracks a market-cap-weighted index of small-cap companies in the US that exhibit quality, value and momentum factors.


US

EQUITY

Rules-Based

MANAGEMENT STYLE

197.6 M

ASSETS UNDER MGMT

15 bp

EXPENSES
Fund Basics
Fund sponsorInvesco
CategoryUS
Asset classEquity
Websitelink...
Inception dateJun 30, 2021
Assets (mns)$198
Expense ratio15 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsQuarterly
Taxation1099
Stock selectionMulti-Factor
WeightingMarket Cap
Holdings TransparencyFull
Derivatives-basedNo
Options availableNo
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings Complete list  + 
SPX TECHNOLOGIES INC 2.3 %
MUELLER INDUSTRIES INC 0.8 %
ALLEGHENY TECHNOLOGIES INC 0.8 %
ENSIGN GROUP INC/THE 0.8 %
FABRINET 0.8 %
CARPENTER TECHNOLOGY 0.7 %
MERITAGE HOMES CORP 0.7 %
SPS COMMERCE INC 0.6 %
LUMEN TECHNOLOGIES, INC. 0.6 %
JACKSON FINANCIAL INCORPORATION CLASS A 0.6 %
Constituent Breakdown
Number of holdings537
Herfindahl-Hirschman Index 35
Wgt avg mkt cap (mns)$2,933
Large cap (>$10bn)0.0%
Mid cap ($2-10bn)69.4%
Small cap (<$2bn)30.5%
Developed mkts.100.0%
Emerging mkts.0.0%
Country Exposure
UNITED STATES 99.0 %
BERMUDA 1.0 %
CAYMAN ISLANDS 0.8 %
PUERTO RICO 0.7 %
Historical Performance


Standardized Performance (as of 03/31/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 3.0% 18.0% 4.8% -- -- -- 4.1%
Volatility 17.4% 18.6% 21.0% -- -- -- --
Market Correlations
versus...BetaR-squared
S&P 5001.0166%
MSCI EAFE0.9962%
MSCI Emg Mkts0.6930%
Liquidity Measures
Avg. volume (000)1
Turnover0.0%
Avg. Bid/Ask (% of price)0.33%
ADV of underlying (mns)$12,561
Technical Indicators
Recent close$27.08
30d moving avg.$26.56
Annualized volatility22.3%
Relative strength (RSI)51
Short interest (ETF)0.1%
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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Risk and Returns: QVMS vs. Comps (1 YR)

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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 --%
1.0 13.7 1.5 2.0% --
Based on closing prices from 10/4/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
QVMS



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

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™

QVMS

7.7%

Cat. Avg

5.6%


ALTAR Score™ Calculation

Category Overview
There are 936 funds in the US Equity category, with an average ALTAR Score™ of 5.6% and a standard deviation of 2.4%. QVMS's ALTAR Score™ is approximately 0.9 standard deviations above the category average. This places QVMS in the 81st percentile among funds in the category.
Sell Side Consensus Rating

Sell-side recommendations on the ETF's individual constituents

QVMS
Peer Average
SELL
U/W
HOLD
O/W
BUY
Factor Scorecard

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Expense Analysis

Peer Group Rules-Based
US Equity ETFs
# of ETFs 609
Avg. Expense Ratio 46.6 bp
Std. Deviation 32.9 bp
QVMS (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)
QVMS 15.0 33.3 48.3
Peer Avg. 29.9 13.7 43.6
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .