EBS vs. XMMO

Last updated Jun 25, 2026

EBS (Emergent BioSolutions Inc.) is a stock, while XMMO (Invesco S&P MidCap Momentum ETF) is Momentum fund tracking the S&P MidCap 400 Momentum Index. Over the past 10 years, EBS returned -11.22%/yr vs 20.08%/yr for XMMO. At a 0.40 correlation, their price movements are largely independent.

Performance

EBS vs. XMMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Emergent BioSolutions Inc. (EBS) and Invesco S&P MidCap Momentum ETF (XMMO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EBS achieves a -31.80% return, which is significantly lower than XMMO's 22.42% return. Over the past 10 years, EBS has underperformed XMMO with an annualized return of -11.22%, while XMMO has yielded a comparatively higher 20.08% annualized return.

EBS

• 1D: 5.24%
• 1M: -0.24%
• YTD: -31.80%
• 6M: -33.25%
• 1Y: 24.52%
• 3Y*: -3.29%
• 5Y*: -33.20%
• 10Y*: -11.22%

XMMO

• 1D: -0.38%
• 1M: 2.67%
• YTD: 22.42%
• 6M: 19.70%
• 1Y: 34.20%
• 3Y*: 30.88%
• 5Y*: 15.62%
• 10Y*: 20.08%

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

EBS vs. XMMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EBS Emergent BioSolutions Inc.	-31.80%	29.29%	298.33%	-79.68%	-72.83%	-51.48%	66.08%	-8.99%	27.57%	41.50%
XMMO Invesco S&P MidCap Momentum ETF	22.42%	13.04%	38.03%	20.39%	-16.02%	16.69%	29.17%	36.78%	6.12%	37.18%

Correlation

The correlation between EBS and XMMO is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (10Y) Calculated over the trailing 10-year period	0.41
Correlation (All Time) Calculated using the full available price history since Nov 15, 2006	0.40

The correlation between EBS and XMMO shifts across timeframes, from 0.27 (1 year) to 0.41 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

EBS vs. XMMO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EBS

EBS Risk / Return Rank: 57
EBS Sharpe Ratio Rank: 54
EBS Sortino Ratio Rank: 59
EBS Omega Ratio Rank: 60
EBS Calmar Ratio Rank: 56
EBS Martin Ratio Rank: 54

XMMO

XMMO Risk / Return Rank: 67
XMMO Sharpe Ratio Rank: 56
XMMO Sortino Ratio Rank: 56
XMMO Omega Ratio Rank: 54
XMMO Calmar Ratio Rank: 84
XMMO Martin Ratio Rank: 86

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EBS vs. XMMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Emergent BioSolutions Inc. (EBS) 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.

	EBS	XMMO	Difference
Sharpe ratio: Return per unit of total volatility	0.30	1.73	-1.43
Sortino ratio: Return per unit of downside risk	1.12	2.41	-1.28
Omega ratio: Gain probability vs. loss probability	1.15	1.31	-0.16
Calmar ratio: Return relative to maximum drawdown	0.56	4.12	-3.56
Martin ratio: Return relative to average drawdown	0.98	16.27	-15.29

EBS vs. XMMO - Sharpe Ratio Comparison

The current EBS Sharpe Ratio is 0.30, which is lower than the XMMO Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of EBS and XMMO, 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

EBS vs. XMMO - Drawdown Comparison

The maximum EBS drawdown since its inception was -98.89%, which is greater than XMMO's maximum drawdown of -55.37%. Use the drawdown chart below to compare losses from any high point for EBS and XMMO.

Drawdown Indicators

	EBS	XMMO	Difference
Max Drawdown Largest peak-to-trough decline	-98.89%	-55.37%	-43.52%
Max Drawdown (1Y) Largest decline over 1 year	-44.24%	-8.34%	-35.90%
Max Drawdown (3Y) Largest decline over 3 years	-83.82%	-24.93%	-58.89%
Max Drawdown (5Y) Largest decline over 5 years	-97.73%	-27.91%	-69.82%
Max Drawdown (10Y) Largest decline over 10 years	-98.89%	-36.74%	-62.15%
Current Drawdown Current decline from peak	-93.75%	-2.80%	-90.95%
Average Drawdown Average peak-to-trough decline	-41.26%	-9.43%	-31.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.07%	2.11%	+22.96%

Volatility

EBS vs. XMMO - Volatility Comparison

Emergent BioSolutions Inc. (EBS) has a higher volatility of 18.45% compared to Invesco S&P MidCap Momentum ETF (XMMO) at 8.49%. This indicates that EBS's price experiences larger fluctuations and is considered to be riskier than XMMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EBS	XMMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.45%	8.49%	+9.96%
Volatility (6M) Calculated over the trailing 6-month period	48.40%	16.74%	+31.66%
Volatility (1Y) Calculated over the trailing 1-year period	82.35%	19.92%	+62.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	102.29%	21.65%	+80.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	79.77%	22.32%	+57.45%

Dividends

EBS vs. XMMO - Dividend Comparison

EBS has not paid dividends to shareholders, while XMMO's dividend yield for the trailing twelve months is around 0.57%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EBS Emergent BioSolutions Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	5.65%	0.00%
XMMO Invesco S&P MidCap Momentum ETF	0.57%	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

Can I hold both EBS and XMMO in my portfolio?

EBS and XMMO have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EBS or XMMO?

EBS has higher volatility (18.45%) compared to XMMO (8.49%). In terms of maximum drawdown, EBS dropped -98.89% vs XMMO's -55.37%.

Which has better risk-adjusted returns?

XMMO currently has the higher Sharpe Ratio (1.73 vs 0.30), 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.