DEEP vs. XSVM

Last updated Aug 2, 2026

DEEP (Roundhill Acquirers Deep Value ETF) and XSVM (Invesco S&P SmallCap Value with Momentum ETF) are both exchange-traded funds - DEEP is a Small Cap Value Equities fund tracking the DEEP-US - Acquirers Deep Value Index, while XSVM is a Momentum fund tracking the S&P SmallCap 600 High Momentum Value Index. Both are passively managed. Over the past 10 years, DEEP returned 8.12%/yr vs 13.34%/yr for XSVM. Their correlation of 0.82 means they have usually moved in the same direction. DEEP charges 0.80%/yr vs 0.37%/yr for XSVM.

Performance

DEEP vs. XSVM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Acquirers Deep Value ETF (DEEP) and Invesco S&P SmallCap Value with Momentum ETF (XSVM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DEEP achieves a 19.12% return, which is significantly lower than XSVM's 25.81% return. Over the past 10 years, DEEP has underperformed XSVM with an annualized return of 8.12%, while XSVM has yielded a comparatively higher 13.34% annualized return.

DEEP

• 1D: -0.37%
• 1M: -1.08%
• 6M: 11.91%
• YTD: 19.12%
• 1Y: 33.15%
• 3Y*: 7.89%
• 5Y*: 6.11%
• 10Y*: 8.12%
• ALL TIME*: 7.27%

XSVM

• 1D: -0.35%
• 1M: 2.37%
• 6M: 17.50%
• YTD: 25.81%
• 1Y: 41.62%
• 3Y*: 14.54%
• 5Y*: 9.57%
• 10Y*: 13.34%
• ALL TIME*: 9.32%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DEEP Roundhill Acquirers Deep Value ETF	$74.38K	$59.26K	$48.50K
XSVM Invesco S&P SmallCap Value with Momentum ETF	$2.60M	$2.40M	$2.07M

DEEP vs. XSVM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DEEP Roundhill Acquirers Deep Value ETF	19.12%	5.69%	-2.97%	22.37%	-17.71%	35.66%	-9.96%	12.54%	-7.17%	27.19%
XSVM Invesco S&P SmallCap Value with Momentum ETF	25.81%	7.47%	2.30%	20.20%	-13.63%	56.36%	5.08%	30.01%	-12.33%	3.62%

Correlation

The correlation between DEEP and XSVM is 0.82, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.82
Correlation (3Y) Balances recent behavior with more history.	0.87
Correlation (5Y) Shows whether the relationship held over a longer period.	0.91
Correlation (10Y) Provides a long-term view across more market conditions.	0.84
Correlation (All Time) Calculated using the full available price history since Sep 23, 2014	0.82

The correlation between DEEP and XSVM has been stable across timeframes, ranging from 0.82 to 0.91 - a consistent structural relationship.

DEEP vs. XSVM - Sectors Allocation Comparison

Sectors	DEEP	XSVM
Consumer Cyclical	25.3%	18.1%
Industrials	22.9%	5.3%
Consumer Defensive	9.8%	4.1%
Financial Services	9.6%	45.1%
Healthcare	7.2%	1.7%
Energy	7.2%	5.7%
Communication Services	6.3%	2.6%
Technology	6.2%	2.6%
Basic Materials	5.6%	3.0%
Real Estate	3.1%	9.7%
Utilities	-	2.1%

Return for Risk

DEEP vs. XSVM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DEEP

DEEP Risk / Return Rank: 70
DEEP Sharpe Ratio Rank: 73
DEEP Sortino Ratio Rank: 75
DEEP Omega Ratio Rank: 66
DEEP Calmar Ratio Rank: 74
DEEP Martin Ratio Rank: 64

XSVM

XSVM Risk / Return Rank: 89
XSVM Sharpe Ratio Rank: 90
XSVM Sortino Ratio Rank: 91
XSVM Omega Ratio Rank: 87
XSVM Calmar Ratio Rank: 91
XSVM Martin Ratio Rank: 87

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DEEP vs. XSVM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Acquirers Deep Value ETF (DEEP) and Invesco S&P SmallCap Value with Momentum ETF (XSVM). 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.

	DEEP	XSVM	Difference
Sharpe ratio: Return per unit of total volatility	1.66	2.21	-0.55
Sortino ratio: Return per unit of downside risk	2.42	3.22	-0.81
Omega ratio: Gain probability vs. loss probability	1.28	1.39	-0.11
Calmar ratio: Return relative to maximum drawdown	2.57	3.91	-1.34
Martin ratio: Return relative to average drawdown	7.75	12.49	-4.74

DEEP vs. XSVM - Sharpe Ratio Comparison

The current DEEP Sharpe Ratio is 1.66, which is comparable to the XSVM Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of DEEP and XSVM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DEEP vs. XSVM - Drawdown Comparison

The maximum DEEP drawdown since its inception was -52.52%, smaller than the maximum XSVM drawdown of -62.57%. Use the drawdown chart below to compare losses from any high point for DEEP and XSVM.

Drawdown Indicators

	DEEP	XSVM	Difference
Max Drawdown Largest peak-to-trough decline	-52.52%	-62.57%	+10.05%
Max Drawdown (1Y) Largest decline over 1 year	-11.87%	-10.08%	-1.79%
Max Drawdown (3Y) Largest decline over 3 years	-28.40%	-26.21%	-2.19%
Max Drawdown (5Y) Largest decline over 5 years	-28.40%	-26.21%	-2.19%
Max Drawdown (10Y) Largest decline over 10 years	-52.52%	-49.02%	-3.50%
Current Drawdown Current decline from peak	-2.71%	-1.45%	-1.26%
Average Drawdown Average peak-to-trough decline	-10.27%	-11.48%	+1.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.94%	3.15%	+0.79%

Volatility

DEEP vs. XSVM - Volatility Comparison

Roundhill Acquirers Deep Value ETF (DEEP) has a higher volatility of 4.45% compared to Invesco S&P SmallCap Value with Momentum ETF (XSVM) at 4.18%. This indicates that DEEP's price experiences larger fluctuations and is considered to be riskier than XSVM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DEEP	XSVM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.45%	4.18%	+0.27%
Volatility (6M) Calculated over the trailing 6-month period	12.35%	11.73%	+0.62%
Volatility (1Y) Calculated over the trailing 1-year period	18.45%	17.89%	+0.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.53%	22.33%	-0.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.20%	25.00%	-0.80%

DEEP vs. XSVM - Expense Ratio Comparison

DEEP has a 0.80% expense ratio, which is higher than XSVM's 0.37% expense ratio.

Dividends

DEEP vs. XSVM - Dividend Comparison

DEEP's dividend yield for the trailing twelve months is around 1.92%, more than XSVM's 1.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DEEP Roundhill Acquirers Deep Value ETF	1.92%	1.78%	1.96%	1.67%	1.28%	1.43%	4.03%	3.49%	1.51%	2.01%	3.14%	3.98%
XSVM Invesco S&P SmallCap Value with Momentum ETF	1.75%	2.29%	1.69%	1.31%	1.79%	1.23%	1.21%	1.22%	2.54%	1.90%	2.29%	2.68%

Frequently Asked Questions

Can I hold both DEEP and XSVM in my portfolio?

DEEP and XSVM have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DEEP or XSVM?

DEEP has higher volatility (4.45%) compared to XSVM (4.18%). In terms of maximum drawdown, DEEP dropped -52.52% vs XSVM's -62.57%.

Which ETF is better, DEEP or XSVM?

On 10-year performance, XSVM leads with 13.34% vs 8.12% for DEEP. On fees, XSVM is cheaper at 0.37% per year. On volatility, XSVM has been the lower-risk option at 4.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DEEP or XSVM?

Over the 10-year period, XSVM has performed better with a 13.34% return vs 8.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DEEP or XSVM?

XSVM is cheaper with a 0.37% expense ratio, compared with 0.80% for DEEP.

Which ETF pays a higher dividend yield, DEEP or XSVM?

DEEP has the higher dividend yield at 1.92%, compared with 1.75% for XSVM.

What is the main difference between DEEP and XSVM?

DEEP is categorized as Small Cap Value Equities, while XSVM is Momentum. DEEP tracks DEEP-US - Acquirers Deep Value Index, while XSVM tracks S&P SmallCap 600 High Momentum Value Index. They also come from different issuers: Exchange Traded Concepts and Invesco. Their fees differ too: 0.80% for DEEP and 0.37% for XSVM.

Which has better risk-adjusted returns?

XSVM currently has the higher Sharpe Ratio (2.21 vs 1.66), 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.