IBBQ vs. XMMO

Last updated Jun 3, 2026

IBBQ (Invesco Nasdaq Biotechnology ETF) and XMMO (Invesco S&P MidCap Momentum ETF) are both exchange-traded funds - IBBQ is a Health & Biotech Equities fund tracking the NASDAQ / Biotechnology, while XMMO is a Momentum fund tracking the S&P MidCap 400 Momentum Index. Both are passively managed. Over the past 3 years, IBBQ returned 11.95%/yr vs 31.83%/yr for XMMO. A 0.55 correlation means they provide meaningful diversification when combined. IBBQ charges 0.00%/yr vs 0.35%/yr for XMMO.

Performance

IBBQ vs. XMMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Nasdaq Biotechnology ETF (IBBQ) 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, IBBQ achieves a 0.14% return, which is significantly lower than XMMO's 22.96% return.

IBBQ

• 1D: -2.91%
• 1M: -1.52%
• YTD: 0.14%
• 6M: 1.13%
• 1Y: 38.35%
• 3Y*: 11.95%
• 5Y*: —
• 10Y*: —

XMMO

• 1D: 2.16%
• 1M: 6.07%
• YTD: 22.96%
• 6M: 24.84%
• 1Y: 37.37%
• 3Y*: 31.83%
• 5Y*: 16.81%
• 10Y*: 19.66%

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

IBBQ vs. XMMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
IBBQ Invesco Nasdaq Biotechnology ETF	0.14%	33.32%	-0.63%	4.73%	-10.41%	-6.72%
XMMO Invesco S&P MidCap Momentum ETF	22.96%	13.04%	38.03%	20.39%	-16.02%	8.02%

Correlation

The correlation between IBBQ and XMMO is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (All Time) Calculated using the full available price history since Jun 14, 2021	0.55

The correlation between IBBQ and XMMO has been stable across timeframes, ranging from 0.45 to 0.55 - a consistent structural relationship.

IBBQ vs. XMMO - Sectors Allocation Comparison

Sectors	IBBQ	XMMO
Healthcare	98.3%	6.3%
Financial Services	0.0%	2.4%
Basic Materials	-	7.2%
Communication Services	-	1.6%
Consumer Cyclical	-	4.6%
Consumer Defensive	-	0.5%
Energy	-	7.7%
Industrials	-	41.1%
Real Estate	-	6.1%
Technology	-	16.7%
Utilities	-	5.8%

Return for Risk

IBBQ vs. XMMO — Risk / Return Rank

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

IBBQ

IBBQ Risk / Return Rank: 67
IBBQ Sharpe Ratio Rank: 58
IBBQ Sortino Ratio Rank: 58
IBBQ Omega Ratio Rank: 52
IBBQ Calmar Ratio Rank: 86
IBBQ Martin Ratio Rank: 80

XMMO

XMMO Risk / Return Rank: 69
XMMO Sharpe Ratio Rank: 59
XMMO Sortino Ratio Rank: 59
XMMO Omega Ratio Rank: 56
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.

IBBQ vs. XMMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Nasdaq Biotechnology ETF (IBBQ) 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.

	IBBQ	XMMO	Difference
Sharpe ratio Return per unit of total volatility	1.97	2.01	-0.04
Sortino ratio Return per unit of downside risk	2.78	2.80	-0.02
Omega ratio Gain probability vs. loss probability	1.33	1.35	-0.02
Calmar ratio Return relative to maximum drawdown	4.89	4.53	+0.36
Martin ratio Return relative to average drawdown	16.17	18.56	-2.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBBQ vs. XMMO - Sharpe Ratio Comparison

The current IBBQ Sharpe Ratio is 1.97, which is comparable to the XMMO Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of IBBQ 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

	IBBQ	XMMO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.97	2.01	-0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.79	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.89	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.14	0.57	-0.43

Drawdowns

IBBQ vs. XMMO - Drawdown Comparison

The maximum IBBQ drawdown since its inception was -37.94%, smaller than the maximum XMMO drawdown of -55.37%. Use the drawdown chart below to compare losses from any high point for IBBQ and XMMO.

Drawdown Indicators

	IBBQ	XMMO	Difference
Max Drawdown Largest peak-to-trough decline	-37.94%	-55.37%	+17.43%
Max Drawdown (1Y) Largest decline over 1 year	-8.34%	-8.34%	0.00%
Max Drawdown (3Y) Largest decline over 3 years	-23.66%	-24.93%	+1.27%
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	-6.82%	0.00%	-6.82%
Average Drawdown Average peak-to-trough decline	-16.83%	-9.45%	-7.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.52%	2.04%	+0.48%

Volatility

IBBQ vs. XMMO - Volatility Comparison

The current volatility for Invesco Nasdaq Biotechnology ETF (IBBQ) is 6.88%, while Invesco S&P MidCap Momentum ETF (XMMO) has a volatility of 7.82%. This indicates that IBBQ 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

	IBBQ	XMMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.88%	7.82%	-0.94%
Volatility (6M) Calculated over the trailing 6-month period	15.21%	15.59%	-0.38%
Volatility (1Y) Calculated over the trailing 1-year period	19.63%	18.71%	+0.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.85%	21.45%	+0.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.85%	22.27%	-0.42%

IBBQ vs. XMMO - Expense Ratio Comparison

IBBQ has a 0.00% expense ratio, which is lower than XMMO's 0.35% expense ratio.

Dividends

IBBQ vs. XMMO - Dividend Comparison

IBBQ's dividend yield for the trailing twelve months is around 0.88%, more than XMMO's 0.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IBBQ Invesco Nasdaq Biotechnology ETF	0.88%	0.90%	1.14%	0.81%	0.76%	0.63%	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 IBBQ and XMMO in my portfolio?

IBBQ and XMMO have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBBQ or XMMO?

XMMO has higher volatility (7.82%) compared to IBBQ (6.88%). In terms of maximum drawdown, IBBQ dropped -37.94% vs XMMO's -55.37%.

Which ETF is better, IBBQ or XMMO?

On 3-year performance, XMMO leads with 31.83% vs 11.95% for IBBQ. On fees, IBBQ is cheaper at 0.00% per year. On volatility, IBBQ has been the lower-risk option at 6.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBBQ or XMMO?

Over the 3-year period, XMMO has performed better with a 31.83% return vs 11.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBBQ or XMMO?

IBBQ is cheaper with a 0.00% expense ratio, compared with 0.35% for XMMO.

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

IBBQ has the higher dividend yield at 0.88%, compared with 0.61% for XMMO.

What is the main difference between IBBQ and XMMO?

IBBQ is categorized as Health & Biotech Equities, while XMMO is Momentum. IBBQ tracks NASDAQ / Biotechnology, while XMMO tracks S&P MidCap 400 Momentum Index. Their fees differ too: 0.00% for IBBQ and 0.35% for XMMO.

Which has better risk-adjusted returns?

XMMO currently has the higher Sharpe Ratio (2.01 vs 1.97), 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.