Invesco S&P MidCap Low Volatility ETF (XMLV): Complete Beginner's Guide
Invesco S&P MidCap Low Volatility ETF (XMLV) is a mid-cap low volatility ETF from Invesco with an expense ratio of 0.25% and $1.0B in assets under management. Our Beginner Suitability Score: 9/10 (Great for Beginners). 5-year annualized return: 7.00%.
Last updated: April 2026
Invesco • Mid-Cap Low Volatility
Expense Ratio
0.25%
AUM
$1.0B
Dividend Yield
2.00%
Inception
2013
Beginner Score
9/10
What is Invesco S&P MidCap Low Volatility ETF?
XMLV selects the least volatile stocks from the S&P MidCap 400 index, creating a smoother ride for investors who want mid-cap exposure without the usual bumps. The fund rebalances quarterly to always hold the 80 stocks with the lowest realized volatility. It is a smart option for investors who want to participate in mid-cap growth potential while reducing the risk of sharp drawdowns.
XMLV is managed by Invesco and has been available since 2013. With $1.0B in assets under management, it's a growing fund that has attracted significant investor interest. The fund charges an expense ratio of 0.25%, which means for every $10,000 you invest, you pay approximately $25 per year in management fees.
XMLV at a Glance — Key Metrics
| Expense Ratio | 0.25% |
| Total Holdings | 80 |
| P/E Ratio | 19.0 |
| Beta | 0.75 |
| Dividend Yield | 2.00% |
| AUM | $1.0B |
| Inception Year | 2013 |
| Issuer | Invesco |
Top 10 Holdings in XMLV
XMLV holds 80 different securities. Here are the largest positions that make up the core of this fund:
| # | Company | Ticker | Weight |
|---|---|---|---|
| 1 | Atmos Energy Corp. | ATO | 2.00% |
| 2 | Church & Dwight Co. | CHD | 1.90% |
| 3 | Lancaster Colony Corp. | LANC | 1.80% |
| 4 | National Fuel Gas Co. | NFG | 1.70% |
| 5 | MDU Resources Group | MDU | 1.60% |
| 6 | OGE Energy Corp. | OGE | 1.50% |
| 7 | John Wiley & Sons | WLY | 1.40% |
| 8 | Spire Inc. | SR | 1.40% |
| 9 | Northwest Natural | NWN | 1.30% |
| 10 | South Jersey Industries | SJI | 1.30% |
XMLV's top holding is Atmos Energy Corp. (ATO) at 2.00%, followed by Church & Dwight Co. (CHD) at 1.90% and Lancaster Colony Corp. (LANC) at 1.80%. The top 10 holdings account for 15.90% of the fund's 80 total positions.
View data table
| Rank | Company | Ticker | Weight |
|---|---|---|---|
| 1 | Atmos Energy Corp. | ATO | 2.00% |
| 2 | Church & Dwight Co. | CHD | 1.90% |
| 3 | Lancaster Colony Corp. | LANC | 1.80% |
| 4 | National Fuel Gas Co. | NFG | 1.70% |
| 5 | MDU Resources Group | MDU | 1.60% |
| 6 | OGE Energy Corp. | OGE | 1.50% |
| 7 | John Wiley & Sons | WLY | 1.40% |
| 8 | Spire Inc. | SR | 1.40% |
| 9 | Northwest Natural | NWN | 1.30% |
| 10 | South Jersey Industries | SJI | 1.30% |
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XMLV Performance History
Here's how XMLV has performed over different time periods. Remember that past performance doesn't guarantee future results, but it gives you a sense of the fund's track record:
YTD
1.50%
1 Year
10.00%
3 Year
5.00%
5 Year
7.00%
10 Year
8.00%
XMLV has returned 7.00% annualized over 5 years and 8.00% over 10 years. YTD return is 1.50%.
View data table
| Period | Return |
|---|---|
| YTD | 1.50% |
| 1 Year | 10.00% |
| 3 Year | 5.00% |
| 5 Year | 7.00% |
| 10 Year | 8.00% |
Beginner Suitability Score: 9/10
Our proprietary Beginner Suitability Score evaluates ETFs based on five factors that matter most to new investors: fees, volatility, diversification, dividend history, and track record length.
XMLV scores 9/10 because it has very low fees, shows lower-than-average volatility, focuses on 80 selected holdings, and has been available since 2013, giving it a proven track record.
How to Buy XMLV — Step by Step
- Open a brokerage account — We recommend Fidelity, Charles Schwab, or Vanguard for ETF investing. All offer $0 commissions on ETF trades.
- Fund your account — Transfer money from your bank. You can start with as little as $1 if your broker offers fractional shares.
- Search for "XMLV" — Use the search bar in your brokerage platform to find Invesco S&P MidCap Low Volatility ETF.
- Place your order — Choose "Market Order" for simplicity or "Limit Order" if you want to set a specific price. Enter how many shares (or dollar amount) you want to buy.
- Set up automatic investing — Most brokers let you schedule recurring purchases (e.g., $100/month on the 1st). This is dollar cost averaging in action.
XMLV Sector Allocation
Here's how XMLV distributes its investments across different sectors of the economy:
XMLV's largest sector allocation is Utilities at 25.0%, followed by Financials at 18.0% and Consumer Staples at 15.0%.
View data table
| Sector | Weight |
|---|---|
| Utilities | 25.0% |
| Financials | 18.0% |
| Consumer Staples | 15.0% |
| Real Estate | 12.0% |
| Industrials | 10.0% |
| Health Care | 8.0% |
| Materials | 5.0% |
| Technology | 4.0% |
| Consumer Discretionary | 2.0% |
| Energy | 1.0% |
Dollar Cost Averaging Into XMLV
Here's what consistent monthly investing could look like over time, assuming an average annual return of 8% (approximate historical stock market average):
| Monthly | 10 Years | 20 Years | 30 Years |
|---|---|---|---|
| $100/mo | $18,417 | $59,295 | $150,030 |
| $250/mo | $46,041 | $148,237 | $375,074 |
| $500/mo | $92,083 | $296,474 | $750,148 |
*Projections assume 8% average annual return with monthly compounding. Actual returns will vary. Past performance doesn't guarantee future results.
Fee impact: With XMLV's expense ratio of 0.25%, a $10,000 investment would lose approximately $2,111 to fees over 20 years compared to a zero-fee investment. This is significant — consider whether the fund's strategy justifies these costs.
XMLV's expense ratio of 0.25% costs $2,111 on a $10,000 investment over 20 years (assuming 8% annual return). Without fees, the investment would grow to $46,610 instead of $44,499.
View data table
| Year | Without Fees | With Fees | Fee Cost |
|---|---|---|---|
| 0 | $10,000 | $10,000 | $0 |
| 5 | $14,693 | $14,524 | $169 |
| 10 | $21,589 | $21,095 | $494 |
| 15 | $31,722 | $30,638 | $1,084 |
| 20 | $46,610 | $44,499 | $2,111 |
Pros and Cons of XMLV
Pros
- ✓Significantly reduces the volatility typically associated with mid-cap stocks
- ✓Quarterly rebalancing ensures the portfolio always holds the least volatile names
- ✓Provides mid-cap growth potential with a much smoother return profile
- ✓Equal-weight methodology avoids concentration in any single stock
Cons
- ✗Misses out on high-growth mid-cap stocks that tend to be more volatile
- ✗Heavy tilt toward utilities and staples limits exposure to dynamic growth sectors
- ✗Higher expense ratio than broad mid-cap index ETFs like IJH or VO
Frequently Asked Questions
Is XMLV a good ETF for beginners?▾
XMLV has a Beginner Suitability Score of 9/10 on our scale. This makes it a strong choice for new investors due to its low fees and focused strategy.
What is the expense ratio of XMLV?▾
XMLV has an expense ratio of 0.25%. This means for every $10,000 you invest, you pay approximately $25 per year in fees. This is considered very low and cost-efficient.
How much money do I need to invest in XMLV?▾
You can invest in XMLV with as little as $1 through brokers that offer fractional shares (like Fidelity, Schwab, or Robinhood). There is no minimum investment required beyond the share price itself, which changes daily. Dollar cost averaging — investing a fixed amount regularly — is a popular strategy.
Does XMLV pay dividends?▾
Yes, XMLV pays dividends with a current yield of approximately 2.00%. Dividends are typically paid quarterly and can be reinvested automatically through most brokers.
What are the top holdings in XMLV?▾
The top holdings in XMLV include Atmos Energy Corp. (2.00%), Church & Dwight Co. (1.90%), Lancaster Colony Corp. (1.80%), and more. The fund holds 80 total positions, providing focused exposure to selected companies.
What sectors does XMLV invest in?▾
XMLV's largest sector allocations are Utilities (25.00%), Financials (18.00%), Consumer Staples (15.00%). This sector distribution shows a focus on utilities stocks.
How much do XMLV's fees cost over time?▾
With an expense ratio of 0.25%, a $10,000 investment in XMLV would lose approximately $2,111 to fees over 20 years (assuming 8% annual returns). Consider whether the fund's strategy justifies these costs.