Invesco S&P SmallCap 600 QVM Multi-factor ETF (QVMS) Performance
QVMS total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +16.4% since Dec 31, 2025
- 1 year
- +17.0% total return
- 5 years
- +6.7% a year
- Since first price
- +6.6% a year since 2021
QVMS trailing returns vs SPY, QQQ, AGG
| Period | QVMS total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +0.2% | +0.2% | −1.0% | −5.0% | +0.9% |
| 3 months | −4.2% | −4.6% | +3.2% | +1.9% | −0.4% |
| 6 months | +2.9% | +2.2% | +7.8% | +8.4% | −1.5% |
| YTD | +16.4% | +15.2% | +12.3% | +15.1% | −1.0% |
| 1 year | +17.0% | +15.5% | +14.4% | +15.9% | −1.1% |
| 3 years | +64.4%+18.0%/yr | +57.8% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +38.4%+6.7%/yr | +28.6% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionJun 30, 2021 | +40.3%+6.6%/yr | +29.9% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: QVMS vs SPY
From Jun 30, 2021: QVMS grew to $14,033, SPY to $19,043.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
QVMS returns by calendar year
3 of 4 full years positive. Best 2023 (+16.9%), worst 2022 (−14.6%). 2026 is year to date.
QVMS annual returns table
| Year | QVMS | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +16.4% | −9.7% | +12.3% | +15.1% | −1.0% |
| 2025 | +5.6% | −24.0% | +17.7% | +20.8% | +7.2% |
| 2024 | +9.5% | −9.1% | +24.9% | +25.6% | +1.3% |
| 2023 | +16.9% | −16.3% | +26.2% | +54.9% | +5.7% |
| 2022 | −14.6% | −23.8% | −18.2% | −32.6% | −13.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
QVMS largest drawdowns
Now 7.8% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Nov 25, 2024 | −28.0% | Apr 8, 2025 | Jan 8, 2026 | 4 months | 1.1 years |
| Nov 5, 2021 | −24.8% | Sep 27, 2022 | Jul 12, 2024 | 11 months | 2.7 years |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
QVMS risk statistics
| Statistic | 3 years | 5 years | Since 2021 |
|---|---|---|---|
| Annualized return | +15.3% | +7.2% | +6.4% |
| Volatility (annualized) | 19.1% | 20.3% | 19.9% |
| Sharpe ratio | 0.61 | 0.27 | 0.24 |
| Sortino ratio | 1.11 | 0.43 | 0.38 |
| Best month | +12.5% | +12.8% | +12.8% |
| Worst month | −8.1% | −9.5% | −9.5% |
| Best 12 months | +38.3% | +38.3% | +38.3% |
| Worst 12 months | −5.0% | −16.6% | −16.6% |
| Positive months | 56% | 50% | 49% |
| Beta vs S&P 500 | 1.05 | 1.02 | — |
| Correlation with S&P 500 | 0.68 | 0.79 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
QVMS rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 53 | −16.6% | +6.2% | +38.3% | 66% |
| 3-year (a year) | 29 | +1.3% | +8.6% | +17.9% | 100% |
| 5-year (a year) | 5 | +6.8% | +7.8% | +8.5% | 100% |
Every holding period starting at a month-end since 2021. Returns for 3 years and longer are annualized.
QVMS performance overview
Invesco S&P SmallCap 600 QVM Multi-factor ETF (QVMS) returned +17.0% over the past year and +6.7% a year over five years, with distributions reinvested. Since its first recorded price in 2021 it has returned +6.6% a year, turning $10,000 into about $14,033. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −28.0%, from Nov 25, 2024 to Apr 8, 2025, and it took 9 months to get back to the old high. QVMS finished 3 of its 4 full calendar years with a gain; the best year was 2023 (+16.9%) and the worst 2022 (−14.6%). Volatility has been 19.9% a year.
Related: QVMS chart, QVMS holdings, QVMS dividends, QVMS valuation. See the QVMS overview for the latest quote and fund facts.
QVMS performance FAQ
What is the QVMS return over the past year?
QVMS returned +17.0% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 15.5%.
What is the average annual return of QVMS?
QVMS has returned +6.7% a year over 5 years, +6.6% a year since June 30, 2021 (total return, distributions reinvested).
How much would $10,000 invested in QVMS be worth?
$10,000 invested in QVMS at its first recorded close on June 30, 2021 would be worth about $14,033 on October 23, 2026 with distributions reinvested.
What was the worst year for QVMS?
The worst calendar year was 2022, with a total return of −14.6%. The best was 2023 at +16.9%.
What is the biggest drawdown of QVMS?
The largest peak-to-trough decline was −28.0% between November 25, 2024 and April 8, 2025. It recovered to the old high on January 8, 2026, 9 months after the bottom.
How volatile is QVMS?
Over the past 3 years QVMS had an annualized volatility of 19.1% and a Sharpe ratio of 0.61 (excess return over 1–3 month T-bills per unit of risk).