Invesco S&P 500 Value with Momentum ETF
PXLV
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- Invesco S&P 500 Value with Momentum ETF (PXLV), now trading under the ticker SPVM, is an exchange-traded fund managed by Invesco Ltd. that seeks to track the investment results, before fees and expenses, of the S&P 500 High Momentum Value Index. The fund invests at least 90% of its total assets in securities comprising the underlying index, which selects approximately 100 stocks from the S&P 500 exhibiting high value scores—based on metrics such as book value to price, forward earnings to price, and sales to price—combined with a momentum overlay prioritizing the highest momentum among semi-annually screened candidates; it provides exposure to large-cap U.S. equities in the value segment with momentum characteristics, including top holdings like General Motors Co., Invesco Ltd., Hewlett Packard Enterprise Co., United Airlines Holdings Inc., and Warner Bros. Discovery Inc. The ETF features a net expense ratio of 0.39%, daily pricing, and is available primarily to investors in the United States, with total net assets around $88.57 million. Launched on June 16, 2011, and headquartered with Invesco Exchange-Traded Fund Trust in Downers Grove, Illinois, the fund operates within the mid-cap value Morningstar category despite its S&P 500 focus, managed by a team including Peter Hubbard, Michael Jeanette, Tony Seisser, and Pratik Doshi. In a significant recent operational change, Bloomberg notes that PXLV transitioned to the new ticker symbol SPVM:US, reflecting an update to align with its S&P 500 High Momentum Value Index strategy. This ticker change supports Invesco's ongoing ETF lineup optimizations, as part of broader 2023 modifications to eight ETFs—including index, name, and fee adjustments—to enhance investor experience and competitiveness in passive equity strategies. The fund maintains a passive management style, with semi-annual reconstitution and rebalancing to replicate index performance.