The Invesco S&P 500 Value With Momentum Portfolio (BATS: SPVM) had its annual fee lowered from 0.30% to 0.15%.

SPVM follows the S&P 500 High Momentum Value Index, which “tracks the performance of stocks in the S&P 500 Index that have the highest value and momentum score. Constituents are selected through a two-step process: first, the 200 stocks with the highest value scores; second, 100 securities with the highest positive momentum scores,” according to the issuer.

“Invesco prices their products at levels they believe are appropriate for the value they deliver to clients and that are competitive in the marketplace. They thoughtfully make adjustments when there is an opportunity to better meet client needs, grow the business, increase market share or defend revenue,” said Invesco in the statement.

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