IMVP ETF: What Is It? - Total Guide to Returns, Expense Ratio, Holdings, and Alternative ETFs
The Invesco India ETF (IMVP) selects Indian large- and mid-cap quality stocks using four scores—momentum, value, volatility, and profitability—and the key decision criteria versus the market-cap-weighted core ETF INDA are Invesco's management, the equal-weighted structure, and the resulting differences in expense ratio and dividends.
SubscribeWhat Is the Invesco India ETF?
It is an Indian equity ETF that tracks an India factor index produced by FTSE, selecting top Indian-listed large- and mid-cap stocks whose momentum, value, volatility, and profitability scores rank highest in a sector-neutral manner.
It is suited to investors who want diversified exposure to the Indian equity market within emerging markets but prefer factor-based quality-stock selection over plain index tracking.
The ETF is run by Invesco on a passive (index-tracking) basis.
How to Invest in the Invesco India ETF
| Item | Details |
|---|---|
| Tracked Index | FTSE India Quality & Yield Select Index |
| Management Style | Passive (factor index tracking) |
| Rebalancing Cycle | Quarterly |
| Dividend Cycle | Semi-annual dividends |
| Total Expense Ratio | 0.78% |
| Manager | Invesco |
From Indian-listed stocks, it selects the top names with the highest combined momentum, value, volatility, and profitability scores on a sector-neutral basis. Rather than market-cap weighting, holdings are closer to equal-weighted, reducing concentration in any single large-cap stock, and constituents are automatically adjusted quarterly according to index rules.
- Quality-stock selection based on a combined four-factor score
- Near-equal-weighted construction that reduces large-cap concentration
Invesco India ETF Size and Cost (AUM and Expense Ratio)
Assets under management (AUM) stand at $92.1M, and the total expense ratio is 0.78% annually.
Unlike simple market-cap-weighted India ETFs, its factor-selection and equal-weighted structure means different constituents and weightings, and its expense ratio accordingly tends to run somewhat higher than that of broad core India ETFs.
Invesco India ETF Performance and Flows
1-Year Price Performance
Dividend & Yield
52-Week Price RangeReturns move with Indian equity-market trends, currency movements, and foreign-fund flows, and given its factor-selection structure, short-term performance can diverge from the broader market index. As an emerging-markets asset, volatility tends to be elevated.
Capital flows fluctuate with India's growth outlook and emerging-markets allocation demand, and in risk-off environments, funds can exit alongside other emerging-markets assets. Currency moves and the global rate environment also shape fund flows.
Invesco India ETF: Strengths and Weaknesses
Factor-based quality-stock selection and the equal-weighted structure are the strengths, while emerging-markets volatility and a comparatively higher expense ratio are the drawbacks.
💪 Key Strengths
⚠️ Points to Watch
Invesco India ETF: Alternatives and Related Products
The leading alternative with the same Indian equity exposure is INDA, a broad market-cap-weighted core ETF that tends to carry a lower expense ratio. Other products shown alongside in the table—EWZ (Brazil) and MCHI·FXI (China)—belong to the same emerging-markets category but offer different country exposures, leading to different diversification benefits and risk profiles. Within India, SMIN is an option for those wanting small-cap focus, while INDY can be considered for large-cap-centric exposure. IMVP stands apart from these with its factor-selection and equal-weighted structure.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 EWZ | iShares MSCI Brazil ETF | $42.59 | +1.8% | $13.8B | 0.59% | 3.18% | +40.3% |
 EWT | iShares MSCI Taiwan ETF | $104.90 | +0.9% | $11.4B | 0.59% | 0.97% | +64.3% |
 INDA | iShares MSCI India ETF | $46.46 | -1.9% | $5.8B | 0.61% | - | -15.2% |
 MCHI | iShares MSCI China ETF | $49.00 | -0.0% | $5.5B | 0.59% | 2.24% | -23.6% |
 FLTW | Franklin FTSE Taiwan ETF | $100.93 | +1.1% | $4.7B | 0.19% | 1.62% | +65.3% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
| INFY | Infosys Ltd ADR | 0.04% | $12.35 | -6.6% | $50.1B | 15.1 | 5.07% |
 UNB | Union Bankshares Inc | 0.04% | $23.04 | +0.9% | $113.9M | 8.9 | 6.25% |
| BAC | Bank Of America Corp | 0.03% | $50.56 | -1.0% | $350.0B | 12.1 | 2.38% |
 RDY | Dr. Reddy's Laboratories Ltd ADR | 0.03% | $13.21 | -0.1% | $11.0B | 29.7 | 0.61% |
Investor Checklist for the Invesco India ETF
Points to review before investing in IMVP. It is advisable to check the characteristics of Indian market exposure and the factor-selection strategy, the differences from the broad market index that arise from the equal-weighted structure, and the impact of costs and currency in advance.
| Checklist Item | What to Verify | Current Status |
|---|---|---|
| 💵 Expense Ratio | Confirm the impact of cumulative costs over long-term holding | Tends to be somewhat high |
| 📊 Factor Structure | Understand the different constituents and performance versus a market-cap index | Factor selection applied |
| 🌏 Emerging-Markets Exposure | Ability to tolerate Indian policy and equity-market volatility | Volatility tends to be high |
| 💱 Currency | Impact of dollar and rupee exchange rates on won-denominated returns | No currency hedging applied |
Emerging-markets volatility, currency moves, and tracking differences that arise when the factor strategy diverges from the broad market index are the main sources of variability. In risk-off environments, short-term drawdowns can deepen.
It is a suitable choice for investors seeking diversified, factor-based exposure to Indian quality stocks. For investors who prioritize simple core exposure and a low expense ratio, INDA is appropriate; for those who prefer factor selection and an equal-weighted structure, IMVP is the better fit.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of June 26, 2026.
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