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ICLO vs. XMMO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

ICLO vs. XMMO

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco Aaa CLO Floating Rate Note ETF (ICLO) and Invesco S&P MidCap Momentum ETF (XMMO).

ICLO and XMMO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ICLO is an actively managed fund by Invesco. It was launched on Dec 9, 2022. XMMO is a passively managed fund by Invesco that tracks the performance of the S&P MidCap 400 Index. It was launched on Mar 3, 2005.

Performance

ICLO vs. XMMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Aaa CLO Floating Rate Note ETF (ICLO) and Invesco S&P MidCap Momentum ETF (XMMO). The values are adjusted to include any dividend payments, if applicable.

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ICLO vs. XMMO - Yearly Performance Comparison

2026 (YTD)2025202420232022
ICLO
Invesco Aaa CLO Floating Rate Note ETF		1.06%5.27%7.05%8.90%0.38%
XMMO
Invesco S&P MidCap Momentum ETF		4.93%13.04%38.03%20.39%-1.37%

Returns By Period

In the year-to-date period, ICLO achieves a 1.06% return, which is significantly lower than XMMO's 4.93% return.

ICLO

1D
0.12%
1M
0.16%
YTD
1.06%
6M
2.21%
1Y
5.57%
3Y*
6.89%
5Y*
—
10Y*
—

XMMO

1D
4.31%
1M
-3.18%
YTD
4.93%
6M
7.61%
1Y
28.46%
3Y*
25.08%
5Y*
12.21%
10Y*
18.19%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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Invesco Aaa CLO Floating Rate Note ETF

Invesco S&P MidCap Momentum ETF

Often compared with ICLO:
ICLO vs. JAAAICLO vs. CLOAICLO vs. CLOIICLO vs. VMFXXICLO vs. BKLNICLO vs. PAAAICLO vs. USFR
Often compared with XMMO:
XMMO vs. SPMOXMMO vs. XMHQXMMO vs. VOOXMMO vs. SPGPXMMO vs. MTUMXMMO vs. QMOMXMMO vs. RFV

ICLO vs. XMMO - Expense Ratio Comparison

ICLO has a 0.26% expense ratio, which is lower than XMMO's 0.33% expense ratio.

XMMO
Invesco S&P MidCap Momentum ETF
ICLO
Invesco Aaa CLO Floating Rate Note ETF

Return for Risk

ICLO vs. XMMO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ICLO
ICLO Risk / Return Rank: 8383
Overall Rank
ICLO Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
ICLO Sortino Ratio Rank: 7474
Sortino Ratio Rank
ICLO Omega Ratio Rank: 9797
Omega Ratio Rank
ICLO Calmar Ratio Rank: 7070
Calmar Ratio Rank
ICLO Martin Ratio Rank: 9797
Martin Ratio Rank
XMMO
XMMO Risk / Return Rank: 8080
Overall Rank
XMMO Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
XMMO Sortino Ratio Rank: 7777
Sortino Ratio Rank
XMMO Omega Ratio Rank: 7474
Omega Ratio Rank
XMMO Calmar Ratio Rank: 8484
Calmar Ratio Rank
XMMO Martin Ratio Rank: 8989
Martin Ratio Rank
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.

ICLO vs. XMMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Aaa CLO Floating Rate Note ETF (ICLO) 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.

ICLOXMMODifference

Sharpe ratio

Return per unit of total volatility

1.37

1.30

+0.07

Sortino ratio

Return per unit of downside risk

1.80

1.86

-0.06

Omega ratio

Gain probability vs. loss probability

1.54

1.26

+0.28

Calmar ratio

Return relative to maximum drawdown

1.73

2.28

-0.55

Martin ratio

Return relative to average drawdown

21.75

10.83

+10.91

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ICLO vs. XMMO - Sharpe Ratio Comparison

The current ICLO Sharpe Ratio is 1.37, which is comparable to the XMMO Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of ICLO and XMMO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

ICLOXMMODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.37

1.30

+0.07

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.58

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.83

—

Sharpe Ratio (All Time)

Calculated using the full available price history

2.79

0.54

+2.25

Correlation

The correlation between ICLO and XMMO is 0.07, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

ICLO vs. XMMO - Dividend Comparison

ICLO's dividend yield for the trailing twelve months is around 5.35%, more than XMMO's 0.71% yield.

TTM20252024202320222021202020192018201720162015
ICLO
Invesco Aaa CLO Floating Rate Note ETF		5.35%5.49%6.51%7.01%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
XMMO
Invesco S&P MidCap Momentum ETF		0.71%0.78%0.34%0.80%1.43%0.41%0.61%0.60%0.19%0.21%0.22%0.64%

Drawdowns

ICLO vs. XMMO - Drawdown Comparison

The maximum ICLO drawdown since its inception was -3.47%, smaller than the maximum XMMO drawdown of -55.37%. Use the drawdown chart below to compare losses from any high point for ICLO and XMMO.

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Drawdown Indicators

ICLOXMMODifference

Max Drawdown

Largest peak-to-trough decline

-3.47%

-55.37%

+51.90%

Max Drawdown (1Y)

Largest decline over 1 year

-3.30%

-12.81%

+9.51%

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%

-4.39%

+4.39%

Average Drawdown

Average peak-to-trough decline

-0.06%

-9.52%

+9.46%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.26%

2.69%

-2.43%

Volatility

ICLO vs. XMMO - Volatility Comparison

The current volatility for Invesco Aaa CLO Floating Rate Note ETF (ICLO) is 0.34%, while Invesco S&P MidCap Momentum ETF (XMMO) has a volatility of 9.07%. This indicates that ICLO 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.

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Volatility by Period

ICLOXMMODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.34%

9.07%

-8.73%

Volatility (6M)

Calculated over the trailing 6-month period

0.80%

14.28%

-13.48%

Volatility (1Y)

Calculated over the trailing 1-year period

4.08%

21.97%

-17.89%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

2.48%

21.26%

-18.78%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

2.48%

22.11%

-19.63%