Invesco S&P MidCap Low Volatility ETF (XMLV): Complete Beginner's Guide
Last updated: March 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% |
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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%
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.
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.
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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.