These alternative index strategies are beating -2-

Click on the tickers for more about each ETF, including charts and lists of holdings.

Read: Tomi Kilgore's guide to the information available on the MarketWatch quote page

For the Invesco S&P 500 Quality ETF, the full expense ratio is 0.21%, but the fund's expenses are being limited to 0.15% until at least Aug. 31, 2027.

The Invesco S&P 500 Momentum ETF has led for all periods covered in the second table.

The nine factor approaches

Again leaving the Invesco factor ETFs in the same order as the tables above, here are descriptions of each strategy.

-- The Invesco S&P 500 Pure Growth ETF RPG currently holds 66 stocks. It tracks the S&P 500 Pure Growth Index, which scores companies by growth of sales and earnings, along with price momentum. The index is reconstituted once a year and weighted by Pure Growth Score, as calculated by S&P Dow Jones Indices.

-- The Invesco S&P 500 Quality ETF SPHQ holds the 100 stocks among the S&P 500 that rank highest according to a quality score that combines return on equity, debt-to-book value and an "accruals ratio" of operating assets to total assets. The index tracked by this fund is rebalanced twice a year. Each stock is weighted by the product of its quality score and its market capitalization.

-- The Invesco S&P 500 Momentum ETF SPMO holds the 100 stocks of companies in the S&P 500 with the highest momentum scores, as calculated by S&P Dow Jones Indices. Twice a year, in March and September, the components of the S&P 500 are ranked by how much their prices have risen over the previous 12 months, then scored to take volatility into account. The portfolio is made up of the 20% of companies in the S&P 500 that score highest, then weighted by a combination of the momentum score and market capitalization.

-- The Invesco S&P 500 Pure Value ETF RPV holds 123 stocks. It tracks the S&P 500 Pure Value Index, which scores companies by ratios of book value, earnings and sales to price. This means none of the companies in the S&P 500 Pure Value Index overlap those in the S&P 500 Pure Growth Index.

-- The S&P 500 Equal Weight ETF RSP is rebalanced quarterly for an equal weighting for all 500 stocks.

-- The Invesco S&P 500 Revenue ETF RWL also holds all the stocks in the full index, but they are weighted by revenue rather than by market cap. Each holding is limited to 5% of the portfolio when the fund is rebalanced quarterly.

-- The Invesco S&P 500 High Dividend Low Volatility ETF SPHD holds 50 stocks and is reconstituted twice a year. The S&P 500 is reduced to the 75 stocks with the highest dividend yields over the previous 12 months. Then the list is trimmed to the 50 showing the least price volatility over the previous 252 trading days. Those 50 stocks are then weighted by dividend yield.

-- The Invesco S&P 500 Low Volatility ETF SPLV holds the 100 stocks among the S&P 500 that have shown the least price volatility during the preceding 12 months when it is reconstituted quarterly. The portfolio is weighted based on the inverse of each stock's price volatility.

-- The Invesco S&P 500 GARP ETF SPGP current holds 74 stocks as it tracks the S&P 500 Growth at a Reasonable Price Index. The index is rebalanced twice a year according to S&P Dow Jones Indices' calculations of "growth scores" and "quality and value composite scores."

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