FEMV vs. XMMO

Last updated Jul 28, 2026

FEMV (Fidelity Enhanced Mid Cap Value ETF) and XMMO (Invesco S&P MidCap Momentum ETF) are both exchange-traded funds - FEMV is a Mid Cap Value Equities fund actively managed by Fidelity, while XMMO is a Momentum fund tracking the S&P MidCap 400 Momentum Index. FEMV is actively managed, while XMMO is passively managed. Their 0.62 correlation means they have sometimes moved together and sometimes differently. FEMV charges 0.23%/yr vs 0.35%/yr for XMMO.

Performance

FEMV vs. XMMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Enhanced Mid Cap Value ETF (FEMV) and Invesco S&P MidCap Momentum ETF (XMMO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FEMV

• 1D: 0.50%
• 1M: 2.61%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

XMMO

• 1D: -0.51%
• 1M: -4.56%
• 6M: 13.08%
• YTD: 15.53%
• 1Y: 21.49%
• 3Y*: 25.23%
• 5Y*: 14.43%
• 10Y*: 18.32%
• ALL TIME*: 12.29%

*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)
FEMV Fidelity Enhanced Mid Cap Value ETF	$30.73K	$43.86K	$125.28K
XMMO Invesco S&P MidCap Momentum ETF	$62.20M	$72.30M	$65.45M

FEMV vs. XMMO - Yearly Performance Comparison

	2026 (YTD)
FEMV Fidelity Enhanced Mid Cap Value ETF	8.50%
XMMO Invesco S&P MidCap Momentum ETF	3.19%

Correlation

The correlation between FEMV and XMMO is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 30, 2026	0.62

Return for Risk

FEMV vs. XMMO — Risk / Return Rank

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

FEMV

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

XMMO

XMMO Risk / Return Rank: 49
XMMO Sharpe Ratio Rank: 42
XMMO Sortino Ratio Rank: 42
XMMO Omega Ratio Rank: 41
XMMO Calmar Ratio Rank: 60
XMMO Martin Ratio Rank: 61

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.

FEMV vs. XMMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced Mid Cap Value ETF (FEMV) 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.

	FEMV	XMMO	Difference
Sharpe ratio: Return per unit of total volatility	—	1.04	—
Sortino ratio: Return per unit of downside risk	—	1.54	—
Omega ratio: Gain probability vs. loss probability	—	1.19	—
Calmar ratio: Return relative to maximum drawdown	—	2.13	—
Martin ratio: Return relative to average drawdown	—	7.32	—

Drawdowns

FEMV vs. XMMO - Drawdown Comparison

The maximum FEMV drawdown since its inception was -2.69%, smaller than the maximum XMMO drawdown of -55.37%. Use the drawdown chart below to compare losses from any high point for FEMV and XMMO.

Drawdown Indicators

	FEMV	XMMO	Difference
Max Drawdown Largest peak-to-trough decline	-2.69%	-55.37%	+52.68%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.14%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-24.93%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.91%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-36.74%	—
Current Drawdown Current decline from peak	0.00%	-8.27%	+8.27%
Average Drawdown Average peak-to-trough decline	-0.48%	-9.42%	+8.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.95%	—

Volatility

Volatility by Period

	FEMV	XMMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.88%	—
Volatility (6M) Calculated over the trailing 6-month period	—	17.69%	—
Volatility (1Y) Calculated over the trailing 1-year period	11.35%	20.86%	-9.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.35%	21.76%	-10.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.35%	22.37%	-11.02%

FEMV vs. XMMO - Expense Ratio Comparison

FEMV has a 0.23% expense ratio, which is lower than XMMO's 0.35% expense ratio.

Dividends

FEMV vs. XMMO - Dividend Comparison

FEMV's dividend yield for the trailing twelve months is around 0.26%, less than XMMO's 0.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEMV Fidelity Enhanced Mid Cap Value ETF	0.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XMMO Invesco S&P MidCap Momentum ETF	0.61%	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 FEMV and XMMO in my portfolio?

FEMV and XMMO have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FEMV or XMMO?

On fees, FEMV is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FEMV or XMMO?

FEMV is cheaper with a 0.23% expense ratio, compared with 0.35% for XMMO.

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

XMMO has the higher dividend yield at 0.61%, compared with 0.26% for FEMV.

What is the main difference between FEMV and XMMO?

FEMV is categorized as Mid Cap Value Equities, while XMMO is Momentum. They also come from different issuers: Fidelity and Invesco. Their fees differ too: 0.23% for FEMV and 0.35% for XMMO.