EWMC vs. XMMO

Last updated Jun 4, 2026

EWMC (Invesco S&P MidCap 400 GARP ETF) and XMMO (Invesco S&P MidCap Momentum ETF) are both exchange-traded funds - EWMC is a Small Cap Blend Equities fund tracking the S&P MidCap 400 GARP Index, while XMMO is a Momentum fund tracking the S&P MidCap 400 Momentum Index. Both are passively managed. Over the past 10 years, EWMC returned 10.99%/yr vs 19.73%/yr for XMMO. Their correlation of 0.82 suggests significant overlap in exposure. Both charge a 0.35% expense ratio.

Performance

EWMC vs. XMMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P MidCap 400 GARP ETF (EWMC) 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, EWMC achieves a 7.11% return, which is significantly lower than XMMO's 23.73% return. Over the past 10 years, EWMC has underperformed XMMO with an annualized return of 10.99%, while XMMO has yielded a comparatively higher 19.73% annualized return.

EWMC

• 1D: -0.11%
• 1M: 2.30%
• YTD: 7.11%
• 6M: 6.51%
• 1Y: 21.90%
• 3Y*: 14.94%
• 5Y*: 7.66%
• 10Y*: 10.99%

XMMO

• 1D: 0.62%
• 1M: 6.87%
• YTD: 23.73%
• 6M: 25.73%
• 1Y: 36.97%
• 3Y*: 32.10%
• 5Y*: 16.69%
• 10Y*: 19.73%

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

EWMC vs. XMMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EWMC Invesco S&P MidCap 400 GARP ETF	7.11%	7.81%	15.67%	18.79%	-11.63%	26.35%	15.60%	23.05%	-12.45%	13.05%
XMMO Invesco S&P MidCap Momentum ETF	23.73%	13.04%	38.03%	20.39%	-16.02%	16.69%	29.17%	36.78%	6.12%	37.18%

Correlation

The correlation between EWMC and XMMO is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Dec 9, 2010	0.82

The correlation between EWMC and XMMO shifts across timeframes, from 0.70 (1 year) to 0.86 (5 years), reflecting how their relationship changes across market environments.

EWMC vs. XMMO - Sectors Allocation Comparison

Sectors	EWMC	XMMO
Industrials	17.9%	41.1%
Consumer Cyclical	16.0%	4.6%
Financial Services	13.8%	2.4%
Technology	13.3%	16.7%
Healthcare	9.8%	6.3%
Real Estate	7.8%	6.1%
Basic Materials	5.9%	7.2%
Energy	5.1%	7.7%
Consumer Defensive	5.0%	0.5%
Utilities	3.4%	5.8%
Communication Services	2.0%	1.6%

Return for Risk

EWMC vs. XMMO — Risk / Return Rank

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

EWMC

EWMC Risk / Return Rank: 44
EWMC Sharpe Ratio Rank: 38
EWMC Sortino Ratio Rank: 39
EWMC Omega Ratio Rank: 36
EWMC Calmar Ratio Rank: 58
EWMC Martin Ratio Rank: 51

XMMO

XMMO Risk / Return Rank: 67
XMMO Sharpe Ratio Rank: 57
XMMO Sortino Ratio Rank: 57
XMMO Omega Ratio Rank: 55
XMMO Calmar Ratio Rank: 83
XMMO Martin Ratio Rank: 85

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.

EWMC vs. XMMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P MidCap 400 GARP ETF (EWMC) 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.

	EWMC	XMMO	Difference
Sharpe ratio: Return per unit of total volatility	1.37	1.99	-0.61
Sortino ratio: Return per unit of downside risk	2.04	2.77	-0.74
Omega ratio: Gain probability vs. loss probability	1.24	1.35	-0.11
Calmar ratio: Return relative to maximum drawdown	2.89	4.45	-1.57
Martin ratio: Return relative to average drawdown	8.54	18.21	-9.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EWMC vs. XMMO - Sharpe Ratio Comparison

The current EWMC Sharpe Ratio is 1.37, which is lower than the XMMO Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of EWMC 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.

Sharpe Ratios by Period

	EWMC	XMMO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.37	1.99	-0.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	0.78	-0.41
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.89	-0.39
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.58	-0.03

Drawdowns

EWMC vs. XMMO - Drawdown Comparison

The maximum EWMC drawdown since its inception was -43.12%, smaller than the maximum XMMO drawdown of -55.37%. Use the drawdown chart below to compare losses from any high point for EWMC and XMMO.

Drawdown Indicators

	EWMC	XMMO	Difference
Max Drawdown Largest peak-to-trough decline	-43.12%	-55.37%	+12.25%
Max Drawdown (1Y) Largest decline over 1 year	-7.62%	-8.34%	+0.72%
Max Drawdown (3Y) Largest decline over 3 years	-28.09%	-24.93%	-3.16%
Max Drawdown (5Y) Largest decline over 5 years	-28.09%	-27.91%	-0.18%
Max Drawdown (10Y) Largest decline over 10 years	-43.12%	-36.74%	-6.38%
Current Drawdown Current decline from peak	-0.11%	0.00%	-0.11%
Average Drawdown Average peak-to-trough decline	-5.71%	-9.45%	+3.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.57%	2.04%	+0.53%

Volatility

EWMC vs. XMMO - Volatility Comparison

The current volatility for Invesco S&P MidCap 400 GARP ETF (EWMC) is 3.82%, while Invesco S&P MidCap Momentum ETF (XMMO) has a volatility of 7.82%. This indicates that EWMC 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.

Volatility by Period

	EWMC	XMMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.82%	7.82%	-4.00%
Volatility (6M) Calculated over the trailing 6-month period	10.44%	15.54%	-5.10%
Volatility (1Y) Calculated over the trailing 1-year period	16.13%	18.71%	-2.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.90%	21.45%	-0.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.25%	22.27%	-0.02%

EWMC vs. XMMO - Expense Ratio Comparison

Both EWMC and XMMO have an expense ratio of 0.35%.

Dividends

EWMC vs. XMMO - Dividend Comparison

EWMC's dividend yield for the trailing twelve months is around 0.96%, more than XMMO's 0.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EWMC Invesco S&P MidCap 400 GARP ETF	0.96%	1.19%	0.95%	0.96%	1.28%	0.92%	1.16%	1.25%	1.50%	1.14%	1.00%	1.43%
XMMO Invesco S&P MidCap Momentum ETF	0.60%	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 EWMC and XMMO in my portfolio?

EWMC and XMMO have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EWMC or XMMO?

XMMO has higher volatility (7.82%) compared to EWMC (3.82%). In terms of maximum drawdown, EWMC dropped -43.12% vs XMMO's -55.37%.

Which ETF is better, EWMC or XMMO?

On 10-year performance, XMMO leads with 19.73% vs 10.99% for EWMC. Both ETFs have the same 0.35% expense ratio. On volatility, EWMC has been the lower-risk option at 3.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EWMC or XMMO?

Over the 10-year period, XMMO has performed better with a 19.73% return vs 10.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EWMC or XMMO?

EWMC and XMMO have the same expense ratio: 0.35% per year.

Which ETF pays a higher dividend yield, EWMC or XMMO?

EWMC has the higher dividend yield at 0.96%, compared with 0.60% for XMMO.

What is the main difference between EWMC and XMMO?

EWMC is categorized as Small Cap Blend Equities, while XMMO is Momentum. EWMC tracks S&P MidCap 400 GARP Index, while XMMO tracks S&P MidCap 400 Momentum Index.

Which has better risk-adjusted returns?

XMMO currently has the higher Sharpe Ratio (1.99 vs 1.37), 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.