CVY vs. XMMO
CVY (Invesco Zacks Multi-Asset Income ETF) and XMMO (Invesco S&P MidCap Momentum ETF) are both exchange-traded funds - CVY is a Diversified Portfolio fund tracking the Zacks Multi-Asset Income Index, while XMMO is a Momentum fund tracking the S&P MidCap 400 Momentum Index. Both are passively managed. Over the past 10 years, CVY returned 8.99%/yr vs 18.04%/yr for XMMO. Their 0.73 correlation means they have sometimes moved together and sometimes differently. CVY charges 1.21%/yr vs 0.35%/yr for XMMO.
Performance
CVY vs. XMMO - Performance Comparison
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Returns By Period
In the year-to-date period, CVY achieves a 15.51% return, which is significantly higher than XMMO's 11.79% return. Over the past 10 years, CVY has underperformed XMMO with an annualized return of 8.99%, while XMMO has yielded a comparatively higher 18.04% annualized return.
CVY
- 1D
- -0.27%
- 1M
- 3.22%
- 6M
- 10.58%
- YTD
- 15.51%
- 1Y
- 22.82%
- 3Y*
- 14.62%
- 5Y*
- 9.27%
- 10Y*
- 8.99%
- ALL TIME*
- 6.01%
XMMO
- 1D
- 0.22%
- 1M
- -5.42%
- 6M
- 10.34%
- YTD
- 11.79%
- 1Y
- 20.56%
- 3Y*
- 23.81%
- 5Y*
- 13.41%
- 10Y*
- 18.04%
- ALL TIME*
- 12.11%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $104.32K | $103.88K | $109.40K | |
| $60.32M | $71.93M | $66.65M |
CVY vs. XMMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CVY Invesco Zacks Multi-Asset Income ETF | 15.51% | 11.00% | 10.28% | 17.87% | -9.27% | 25.31% | -10.56% | 25.97% | -10.77% | 15.91% |
XMMO Invesco S&P MidCap Momentum ETF | 11.79% | 13.04% | 38.03% | 20.39% | -16.02% | 16.69% | 29.17% | 36.78% | 6.12% | 37.18% |
Correlation
The correlation between CVY and XMMO is 0.42, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.42 |
Correlation (3Y) Balances recent behavior with more history. | 0.60 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.72 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.66 |
Correlation (All Time) Calculated using the full available price history since Sep 21, 2006 | 0.73 |
Over the past year, the correlation between CVY and XMMO has dropped to 0.42 - well below their long-term average of 0.73, suggesting their price drivers have been diverging.
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Return for Risk
CVY vs. XMMO — Risk / Return Rank
CVY
XMMO
CVY vs. XMMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Zacks Multi-Asset Income ETF (CVY) and Invesco S&P MidCap Momentum ETF (XMMO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CVY | XMMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.11 | ||
| Sortino ratioReturn per unit of downside risk | +1.54 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.17 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.92 | 1.38 | +1.54 |
| Martin ratioReturn relative to average drawdown | 10.01 | 5.81 | +4.20 |
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Drawdowns
CVY vs. XMMO - Drawdown Comparison
The maximum CVY drawdown since its inception was -66.86%, which is greater than XMMO's maximum drawdown of -55.37%. Use the drawdown chart below to compare losses from any high point for CVY and XMMO.
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Drawdown Indicators
| CVY | XMMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.86% | -55.37% | -11.49% |
Max Drawdown (1Y)Largest decline over 1 year | -7.43% | -13.91% | +6.48% |
Max Drawdown (3Y)Largest decline over 3 years | -16.79% | -24.93% | +8.14% |
Max Drawdown (5Y)Largest decline over 5 years | -21.58% | -27.91% | +6.33% |
Max Drawdown (10Y)Largest decline over 10 years | -50.47% | -36.74% | -13.73% |
Current DrawdownCurrent decline from peak | -0.97% | -11.24% | +10.27% |
Average DrawdownAverage peak-to-trough decline | -10.33% | -9.42% | -0.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.16% | 3.29% | -1.13% |
Volatility
CVY vs. XMMO - Volatility Comparison
The current volatility for Invesco Zacks Multi-Asset Income ETF (CVY) is 3.00%, while Invesco S&P MidCap Momentum ETF (XMMO) has a volatility of 7.88%. This indicates that CVY experiences smaller price fluctuations and is considered to be less risky than XMMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CVY | XMMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.00% | 7.88% | -4.88% |
Volatility (6M)Calculated over the trailing 6-month period | 7.79% | 18.46% | -10.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.82% | 21.50% | -10.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.06% | 21.86% | -5.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.46% | 22.43% | -2.97% |
CVY vs. XMMO - Expense Ratio Comparison
CVY has a 1.21% expense ratio, which is higher than XMMO's 0.35% expense ratio.
Dividends
CVY vs. XMMO - Dividend Comparison
CVY's dividend yield for the trailing twelve months is around 4.11%, more than XMMO's 0.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CVY Invesco Zacks Multi-Asset Income ETF | 4.11% | 3.99% | 4.07% | 4.41% | 5.18% | 2.37% | 3.40% | 3.22% | 4.44% | 3.94% | 4.50% | 5.89% |
XMMO Invesco S&P MidCap Momentum ETF | 0.63% | 0.78% | 0.34% | 0.80% | 1.43% | 0.41% | 0.61% | 0.60% | 0.19% | 0.21% | 0.22% | 0.64% |
Frequently Asked Questions
CVY and XMMO have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XMMO has higher volatility (7.88%) compared to CVY (3.00%). In terms of maximum drawdown, CVY dropped -66.86% vs XMMO's -55.37%.
On 10-year performance, XMMO leads with 18.04% vs 8.99% for CVY. On fees, XMMO is cheaper at 0.35% per year. On volatility, CVY has been the lower-risk option at 3.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, XMMO has performed better with a 18.04% return vs 8.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XMMO is cheaper with a 0.35% expense ratio, compared with 1.21% for CVY.
CVY has the higher dividend yield at 4.11%, compared with 0.63% for XMMO.
CVY is categorized as Diversified Portfolio, while XMMO is Momentum. CVY tracks Zacks Multi-Asset Income Index, while XMMO tracks S&P MidCap 400 Momentum Index. Their fees differ too: 1.21% for CVY and 0.35% for XMMO.
CVY currently has the higher Sharpe Ratio (2.01 vs 0.89), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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