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EWMC vs. SMMV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EWMC vs. SMMV

Last updated Aug 2, 2026
Documentation

EWMC (Invesco S&P MidCap 400 GARP ETF) and SMMV (iShares MSCI USA Small-Cap Min Vol Factor ETF) are both Small Cap Blend Equities funds - EWMC tracks the S&P MidCap 400 GARP Index while SMMV tracks the MSCI USA Small Cap Minimum Volatility (USD) Index. Both are passively managed. Over the past 5 years, EWMC returned 9.29%/yr vs 6.29%/yr for SMMV. Their correlation of 0.83 means they have usually moved in the same direction. EWMC charges 0.35%/yr vs 0.20%/yr for SMMV.

Performance

EWMC vs. SMMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P MidCap 400 GARP ETF (EWMC) and iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EWMC achieves a 13.17% return, which is significantly higher than SMMV's 9.33% return.

EWMC

1D
-0.35%
1M
2.06%
6M
11.71%
YTD
13.17%
1Y
21.04%
3Y*
13.73%
5Y*
9.29%
10Y*
11.33%
ALL TIME*
11.48%

SMMV

1D
-0.06%
1M
0.56%
6M
7.36%
YTD
9.33%
1Y
16.10%
3Y*
12.24%
5Y*
6.29%
10Y*
—
ALL TIME*
8.71%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

EWMC

Invesco S&P MidCap 400 GARP ETF
$1.43M$1.18M$1.33M

SMMV

iShares MSCI USA Small-Cap Min Vol Factor ETF
$337.38K$347.17K$431.55K

EWMC vs. SMMV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EWMC
Invesco S&P MidCap 400 GARP ETF		13.17%7.81%15.67%18.79%-11.63%26.35%15.60%23.05%-12.45%13.05%
SMMV
iShares MSCI USA Small-Cap Min Vol Factor ETF		9.33%6.42%18.29%5.63%-10.00%16.64%-2.88%24.21%1.15%14.31%

Correlation

The correlation between EWMC and SMMV is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.71

Correlation (3Y)
Balances recent behavior with more history.

0.79

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.84

Correlation (All Time)
Calculated using the full available price history since Sep 9, 2016

0.83

The correlation between EWMC and SMMV shifts across timeframes, from 0.71 (1 year) to 0.84 (5 years), reflecting how their relationship changes across market environments.

EWMC vs. SMMV - Sectors Allocation Comparison

Sectors
EWMC
SMMV

Industrials

17.9%
13.6%

Consumer Cyclical

16.0%
5.3%

Financial Services

13.8%
9.2%

Technology

13.3%
13.7%

Healthcare

9.8%
18.7%

Real Estate

7.8%
12.5%

Basic Materials

5.9%
1.6%

Energy

5.1%
5.2%

Consumer Defensive

5.0%
7.6%

Utilities

3.4%
7.5%

Communication Services

2.0%
5.1%

Industrials

EWMC
17.9%
SMMV
13.6%

Consumer Cyclical

EWMC
16.0%
SMMV
5.3%

Financial Services

EWMC
13.8%
SMMV
9.2%

Technology

EWMC
13.3%
SMMV
13.7%

Healthcare

EWMC
9.8%
SMMV
18.7%

Real Estate

EWMC
7.8%
SMMV
12.5%

Basic Materials

EWMC
5.9%
SMMV
1.6%

Energy

EWMC
5.1%
SMMV
5.2%

Consumer Defensive

EWMC
5.0%
SMMV
7.6%

Utilities

EWMC
3.4%
SMMV
7.5%

Communication Services

EWMC
2.0%
SMMV
5.1%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco S&P MidCap 400 GARP ETF

iShares MSCI USA Small-Cap Min Vol Factor ETF

Often compared with EWMC:
EWMC vs. RWJEWMC vs. VLUEWMC vs. VUGEWMC vs. XMMOEWMC vs. VOTEWMC vs. FDISEWMC vs. VOO
Often compared with SMMV:
SMMV vs. SMLFSMMV vs. SMLVSMMV vs. USMVSMMV vs. XMU.TOSMMV vs. VBSMMV vs. IWMSMMV vs. IVV

Return for Risk

EWMC vs. SMMV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
EWMC
EWMC Risk / Return Rank: 5858
Overall Rank
EWMC Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
EWMC Sortino Ratio Rank: 5353
Sortino Ratio Rank
EWMC Omega Ratio Rank: 4848
Omega Ratio Rank
EWMC Calmar Ratio Rank: 7373
Calmar Ratio Rank
EWMC Martin Ratio Rank: 6363
Martin Ratio Rank
SMMV
SMMV Risk / Return Rank: 6666
Overall Rank
SMMV Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
SMMV Sortino Ratio Rank: 7575
Sortino Ratio Rank
SMMV Omega Ratio Rank: 6868
Omega Ratio Rank
SMMV Calmar Ratio Rank: 6363
Calmar Ratio Rank
SMMV Martin Ratio Rank: 5656
Martin Ratio Rank
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.

EWMC vs. SMMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P MidCap 400 GARP ETF (EWMC) and iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV). 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.

EWMCSMMVDifference
Sharpe ratioReturn per unit of total volatility
1.26
1.58

-0.32

Sortino ratioReturn per unit of downside risk
1.88
2.42

-0.54

Omega ratioGain probability vs. loss probability

1.22

1.28

-0.06

Calmar ratioReturn relative to maximum drawdown

2.58

2.19

+0.38

Martin ratioReturn relative to average drawdown

7.67

6.75

+0.92

EWMC vs. SMMV - Sharpe Ratio Comparison

The current EWMC Sharpe Ratio is 1.26, which is comparable to the SMMV Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of EWMC and SMMV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

EWMC vs. SMMV - Drawdown Comparison

The maximum EWMC drawdown since its inception was -43.12%, which is greater than SMMV's maximum drawdown of -38.77%. Use the drawdown chart below to compare losses from any high point for EWMC and SMMV.

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Drawdown Indicators

EWMCSMMVDifference

Max Drawdown

Largest peak-to-trough decline

-43.12%

-38.77%

-4.35%

Max Drawdown (1Y)

Largest decline over 1 year

-7.62%

-7.02%

-0.60%

Max Drawdown (3Y)

Largest decline over 3 years

-28.09%

-13.68%

-14.41%

Max Drawdown (5Y)

Largest decline over 5 years

-28.09%

-18.00%

-10.09%

Max Drawdown (10Y)

Largest decline over 10 years

-43.12%

—

—

Current Drawdown

Current decline from peak

-1.19%

-1.07%

-0.12%

Average Drawdown

Average peak-to-trough decline

-5.66%

-5.04%

-0.62%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.56%

2.28%

+0.28%

Volatility

EWMC vs. SMMV - Volatility Comparison

Invesco S&P MidCap 400 GARP ETF (EWMC) has a higher volatility of 4.04% compared to iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV) at 2.85%. This indicates that EWMC's price experiences larger fluctuations and is considered to be riskier than SMMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EWMCSMMVDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.04%

2.85%

+1.19%

Volatility (6M)

Calculated over the trailing 6-month period

10.51%

6.98%

+3.53%

Volatility (1Y)

Calculated over the trailing 1-year period

15.65%

9.75%

+5.90%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.80%

13.44%

+7.36%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.19%

15.62%

+6.57%

EWMC vs. SMMV - Expense Ratio Comparison

EWMC has a 0.35% expense ratio, which is higher than SMMV's 0.20% expense ratio.

Dividends

EWMC vs. SMMV - Dividend Comparison

EWMC's dividend yield for the trailing twelve months is around 0.70%, less than SMMV's 1.66% yield.

PositionTTM20252024202320222021202020192018201720162015
EWMC
Invesco S&P MidCap 400 GARP ETF		0.70%1.19%0.95%0.96%1.28%0.92%1.16%1.25%1.50%1.14%1.00%1.43%
SMMV
iShares MSCI USA Small-Cap Min Vol Factor ETF		1.66%1.77%1.76%2.30%1.67%1.08%1.39%1.64%1.72%1.63%0.79%0.00%

Frequently Asked Questions

EWMC and SMMV have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EWMC has higher volatility (4.04%) compared to SMMV (2.85%). In terms of maximum drawdown, EWMC dropped -43.12% vs SMMV's -38.77%.

On 5-year performance, EWMC leads with 9.29% vs 6.29% for SMMV. On fees, SMMV is cheaper at 0.20% per year. On volatility, SMMV has been the lower-risk option at 2.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, EWMC has performed better with a 9.29% return vs 6.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SMMV is cheaper with a 0.20% expense ratio, compared with 0.35% for EWMC.

SMMV has the higher dividend yield at 1.66%, compared with 0.70% for EWMC.

EWMC tracks S&P MidCap 400 GARP Index, while SMMV tracks MSCI USA Small Cap Minimum Volatility (USD) Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.35% for EWMC and 0.20% for SMMV.

SMMV currently has the higher Sharpe Ratio (1.58 vs 1.26), 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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