IWB vs. XMMO

Last updated Jun 9, 2026

IWB (iShares Russell 1000 ETF) and XMMO (Invesco S&P MidCap Momentum ETF) are both exchange-traded funds - IWB is a Large Cap Blend Equities fund tracking the Russell 1000 Index, while XMMO is a Momentum fund tracking the S&P MidCap 400 Momentum Index. Both are passively managed. Over the past 10 years, IWB returned 14.97%/yr vs 19.50%/yr for XMMO. Their correlation of 0.84 suggests significant overlap in exposure. IWB charges 0.15%/yr vs 0.35%/yr for XMMO.

Performance

IWB vs. XMMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell 1000 ETF (IWB) 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, IWB achieves a 8.46% return, which is significantly lower than XMMO's 19.66% return. Over the past 10 years, IWB has underperformed XMMO with an annualized return of 14.97%, while XMMO has yielded a comparatively higher 19.50% annualized return.

IWB

• 1D: 0.26%
• 1M: 0.43%
• YTD: 8.46%
• 6M: 8.45%
• 1Y: 23.94%
• 3Y*: 21.07%
• 5Y*: 12.59%
• 10Y*: 14.97%

XMMO

• 1D: 0.46%
• 1M: -0.10%
• YTD: 19.66%
• 6M: 19.51%
• 1Y: 31.14%
• 3Y*: 29.91%
• 5Y*: 15.72%
• 10Y*: 19.50%

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

IWB vs. XMMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IWB iShares Russell 1000 ETF	8.46%	17.18%	24.32%	26.39%	-19.19%	26.32%	20.77%	31.06%	-4.90%	21.52%
XMMO Invesco S&P MidCap Momentum ETF	19.66%	13.04%	38.03%	20.39%	-16.02%	16.69%	29.17%	36.78%	6.12%	37.18%

Correlation

The correlation between IWB and XMMO is 0.75, 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	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Mar 4, 2005	0.84

The correlation between IWB and XMMO has been stable across timeframes, ranging from 0.75 to 0.84 - a consistent structural relationship.

IWB vs. XMMO - Sectors Allocation Comparison

Sectors	IWB	XMMO
Technology	36.6%	16.7%
Financial Services	11.3%	2.4%
Communication Services	10.4%	1.6%
Consumer Cyclical	10.0%	4.6%
Industrials	8.6%	41.1%
Healthcare	8.6%	6.3%
Consumer Defensive	4.5%	0.5%
Energy	3.3%	7.7%
Utilities	2.5%	5.8%
Real Estate	2.1%	6.1%
Basic Materials	1.9%	7.2%

Return for Risk

IWB vs. XMMO — Risk / Return Rank

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

IWB

IWB Risk / Return Rank: 66
IWB Sharpe Ratio Rank: 66
IWB Sortino Ratio Rank: 64
IWB Omega Ratio Rank: 66
IWB Calmar Ratio Rank: 60
IWB Martin Ratio Rank: 73

XMMO

XMMO Risk / Return Rank: 64
XMMO Sharpe Ratio Rank: 53
XMMO Sortino Ratio Rank: 52
XMMO Omega Ratio Rank: 52
XMMO Calmar Ratio Rank: 80
XMMO Martin Ratio Rank: 83

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.

IWB vs. XMMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell 1000 ETF (IWB) 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.

	IWB	XMMO	Difference
Sharpe ratio: Return per unit of total volatility	1.98	1.63	+0.34
Sortino ratio: Return per unit of downside risk	2.68	2.29	+0.39
Omega ratio: Gain probability vs. loss probability	1.36	1.29	+0.07
Calmar ratio: Return relative to maximum drawdown	2.71	3.75	-1.04
Martin ratio: Return relative to average drawdown	12.38	15.23	-2.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IWB vs. XMMO - Sharpe Ratio Comparison

The current IWB Sharpe Ratio is 1.98, which is comparable to the XMMO Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of IWB 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

	IWB	XMMO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.98	1.63	+0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.74	0.73	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.83	0.88	-0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.57	-0.12

Drawdowns

IWB vs. XMMO - Drawdown Comparison

The maximum IWB drawdown since its inception was -55.38%, roughly equal to the maximum XMMO drawdown of -55.37%. Use the drawdown chart below to compare losses from any high point for IWB and XMMO.

Drawdown Indicators

	IWB	XMMO	Difference
Max Drawdown Largest peak-to-trough decline	-55.38%	-55.37%	-0.01%
Max Drawdown (1Y) Largest decline over 1 year	-8.86%	-8.34%	-0.52%
Max Drawdown (3Y) Largest decline over 3 years	-19.09%	-24.93%	+5.84%
Max Drawdown (5Y) Largest decline over 5 years	-25.20%	-27.91%	+2.71%
Max Drawdown (10Y) Largest decline over 10 years	-34.60%	-36.74%	+2.14%
Current Drawdown Current decline from peak	-2.58%	-3.69%	+1.11%
Average Drawdown Average peak-to-trough decline	-10.85%	-9.45%	-1.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.94%	2.07%	-0.13%

Volatility

IWB vs. XMMO - Volatility Comparison

The current volatility for iShares Russell 1000 ETF (IWB) is 3.74%, while Invesco S&P MidCap Momentum ETF (XMMO) has a volatility of 7.70%. This indicates that IWB 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

	IWB	XMMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.74%	7.70%	-3.96%
Volatility (6M) Calculated over the trailing 6-month period	9.37%	16.07%	-6.70%
Volatility (1Y) Calculated over the trailing 1-year period	12.20%	19.18%	-6.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.14%	21.52%	-4.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.16%	22.31%	-4.15%

IWB vs. XMMO - Expense Ratio Comparison

IWB has a 0.15% expense ratio, which is lower than XMMO's 0.35% expense ratio.

Dividends

IWB vs. XMMO - Dividend Comparison

IWB's dividend yield for the trailing twelve months is around 0.93%, more than XMMO's 0.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IWB iShares Russell 1000 ETF	0.93%	1.00%	1.14%	1.31%	1.56%	1.09%	1.37%	1.71%	2.06%	1.64%	1.89%	1.95%
XMMO Invesco S&P MidCap Momentum ETF	0.62%	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 IWB and XMMO in my portfolio?

IWB and XMMO have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IWB or XMMO?

XMMO has higher volatility (7.70%) compared to IWB (3.74%). In terms of maximum drawdown, IWB dropped -55.38% vs XMMO's -55.37%.

Which ETF is better, IWB or XMMO?

On 10-year performance, XMMO leads with 19.50% vs 14.97% for IWB. On fees, IWB is cheaper at 0.15% per year. On volatility, IWB has been the lower-risk option at 3.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IWB or XMMO?

Over the 10-year period, XMMO has performed better with a 19.50% return vs 14.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IWB or XMMO?

IWB is cheaper with a 0.15% expense ratio, compared with 0.35% for XMMO.

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

IWB has the higher dividend yield at 0.93%, compared with 0.62% for XMMO.

What is the main difference between IWB and XMMO?

IWB is categorized as Large Cap Blend Equities, while XMMO is Momentum. IWB tracks Russell 1000 Index, while XMMO tracks S&P MidCap 400 Momentum Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.15% for IWB and 0.35% for XMMO.

Which has better risk-adjusted returns?

IWB currently has the higher Sharpe Ratio (1.98 vs 1.63), 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.