Invesco S&P MidCap 400 QVM Multi-factor ETF (QVMM) holdings & weights
Per-holding contribution · concentration · sector skew — a deep read
Fund overview
This is a US-listed ETF from Invesco. It tracks the S&P MidCap 400 Quality, Value & Momentum Top 90% Multi-factor Index. Key facts — expense ratio 0.15%; net assets about $412M; inception Jun 30, 2021. Its 1-year return is +13.81%.
Fund details
Fund overview
This is a US-listed ETF from Invesco. It tracks the S&P MidCap 400 Quality, Value & Momentum Top 90% Multi-factor Index. Key facts — expense ratio 0.15%; net assets about $412M; inception Jun 30, 2021. Its 1-year return is +13.81%.
24 identified stocks · net exposure / NAV 16.30%. Display weights are normalized to 100%; calculations retain original exposures without an additional leverage multiplier. Cash and unallocated contracts are excluded from stock attribution.
Weight and calculation basis
24 identified stocks · net exposure / NAV 16.30%. Display weights are normalized to 100%; calculations retain original exposures without an additional leverage multiplier. Cash and unallocated contracts are excluded from stock attribution.
Today's summary
On a constituent basis, Invesco S&P MidCap 400 QVM Multi-factor ETF's theoretical return is +0.02%p. Today's biggest hero is ATI, contributing +0.01%p (return +1.26%). The biggest suspect dragging it down is APi, at +0.01%p.
Its top 10 holdings make up about 48.4% of the fund. The concentration index (HHI) is 430 — Low — evenly diversified, and the largest sector is Industrials (28%). The higher the concentration, the more one stock or sector drives the whole ETF's return.
Structural health
A five-axis read on how this fund is built. It is not a return forecast or a recommendation, and a low score does not mean a bad fund — leveraged products score low by design. Each axis shows the figure behind it.
Concentration is below 1,500 (430), so no single holding dominates.
The largest sector is Industrials at 28% — industries are reasonably spread.
At 0.15% a year this is a low-cost fund — little drag over a long hold.
Net assets of $412M — liquid enough to trade, and unlikely to be wound down.
A plain 1x physical fund holding the shares themselves — no structural drift from how long you hold it.
Concentration and diversification
Structural health
A five-axis read on how this fund is built. It is not a return forecast or a recommendation, and a low score does not mean a bad fund — leveraged products score low by design. Each axis shows the figure behind it.
Concentration is below 1,500 (430), so no single holding dominates.
The largest sector is Industrials at 28% — industries are reasonably spread.
At 0.15% a year this is a low-cost fund — little drag over a long hold.
Net assets of $412M — liquid enough to trade, and unlikely to be wound down.
A plain 1x physical fund holding the shares themselves — no structural drift from how long you hold it.
Top 20 holdings
Weights are normalized to 100% of absolute exposures across analysed positions, including positions outside this top list. Cash, collateral and unverified assets are excluded. Contributions retain original signed NAV exposures; leverage is not applied twice.
Normalized to 100% of analysed positions
Weights are normalized to 100% of absolute exposures across analysed positions, including positions outside this top list. Cash, collateral and unverified assets are excluded. Contributions retain original signed NAV exposures; leverage is not applied twice.
| # | Holding | Weight |
|---|---|---|
| 1 | OktaOKTA | 6.38% |
| 2 | TechnipFMCFTI | 5.64% |
| 3 | ATIATI | 5.03% |
| 4 | US FoodsUSFD | 4.91% |
| 5 | XPOXPO | 4.66% |
| 6 | United TherapeuticsUTHR | 4.60% |
| 7 | Tenet HealthcareTHC | 4.60% |
| 8 | nVent ElectricNVT | 4.42% |
| 9 | RelianceRS | 4.11% |
| 10 | EntegrisENTG | 4.05% |
| 11 | WoodwardWWD | 3.99% |
| 12 | OvintivOVV | 3.93% |
| 13 | Carpenter TechnologyCRS | 3.93% |
| 14 | Royal GoldRGLD | 3.93% |
| 15 | Curtiss-WrightCW | 3.86% |
| 16 | Permian ResourcesPR | 3.86% |
| 17 | TD SYNNEXSNX | 3.68% |
| 18 | HF SinclairDINO | 3.62% |
| 19 | Burlington StoresBURL | 3.62% |
| 20 | ITTITT | 3.62% |
Holdings below 0.5% or outside the top list are folded into “Others” and omitted above.
Where the weight sits — sector mix
Listed equity weights summed by sector and normalized to 100%. Each band is one sector's share.
Industry breakdown
HHI sums the squared weights. The more it leans on a few names, the higher it goes — and the more the whole ETF moves with them.
How concentrated is it
Concentration (HHI) is low at 430, with the top 10 holdings at just 48.4% of equity weight. No single name can dominate the fund.
Good for damping single-stock risk — and equally, a big winner inside gets diluted.
HHI squares each weight and sums them: 10,000 means one stock is everything, and the more evenly spread the holdings, the closer it falls to zero.
Where the sector weight sits
Sectors run Industrials(28%) · Consumer Discretionary(22%) · Information Technology(18%), and even the largest is only 28% — no meaningful industry tilt.
This is built to track a market rather than to call a sector.
Weights above sum the individually listed equities and normalize that equity total to 100%.
How much it overlaps others
It shares 75% of its holdings with PTMC (20 names in common) — close to half the same companies.
Own both and the diversification is thinner than it looks.
What it is made of
The fund holds 360 positions in total; this page lists the largest 24 and folds the rest into "Others".
Equities are 16.3% of the fund, the rest swaps and cash — index exposure built synthetically rather than by owning the shares, which adds counterparty risk.
The expense ratio is 0.15% a year. Funds tracking the same index tend to perform alike, which makes the fee one of the few things that reliably separates them over time.
This page is not investment advice. Investment decisions and responsibility are your own.
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