KBWY vs. XMMO
KBWY (Invesco KBW Premium Yield Equity REIT ETF) and XMMO (Invesco S&P MidCap Momentum ETF) are both exchange-traded funds - KBWY is a REIT fund tracking the KBW Nasdaq Premium Yield Equity REIT Index, while XMMO is a Momentum fund tracking the S&P MidCap 400 Momentum Index. Both are passively managed. Over the past 10 years, KBWY returned 0.99%/yr vs 18.83%/yr for XMMO. A 0.54 correlation means they provide meaningful diversification when combined. Both charge a 0.35% expense ratio.
Performance
KBWY vs. XMMO - Performance Comparison
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Returns By Period
In the year-to-date period, KBWY achieves a 26.20% return, which is significantly higher than XMMO's 16.50% return. Over the past 10 years, KBWY has underperformed XMMO with an annualized return of 0.99%, while XMMO has yielded a comparatively higher 18.83% annualized return.
KBWY
- 1D
- 0.38%
- 1M
- 2.04%
- 6M
- 20.44%
- YTD
- 26.20%
- 1Y
- 25.16%
- 3Y*
- 8.47%
- 5Y*
- 3.25%
- 10Y*
- 0.99%
XMMO
- 1D
- 1.32%
- 1M
- -5.11%
- 6M
- 13.31%
- YTD
- 16.50%
- 1Y
- 23.97%
- 3Y*
- 26.63%
- 5Y*
- 15.30%
- 10Y*
- 18.83%
KBWY vs. XMMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KBWY Invesco KBW Premium Yield Equity REIT ETF | 26.20% | -5.30% | -3.49% | 12.88% | -19.00% | 31.22% | -25.83% | 23.36% | -18.20% | 0.81% |
XMMO Invesco S&P MidCap Momentum ETF | 16.50% | 13.04% | 38.03% | 20.39% | -16.02% | 16.69% | 29.17% | 36.78% | 6.12% | 37.18% |
Correlation
The correlation between KBWY and XMMO is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2010 | 0.54 |
Over the past year, the correlation between KBWY and XMMO has dropped to 0.31 - well below their long-term average of 0.54, suggesting their price drivers have been diverging.
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Return for Risk
KBWY vs. XMMO — Risk / Return Rank
KBWY
XMMO
KBWY vs. XMMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco KBW Premium Yield Equity REIT ETF (KBWY) 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.
| KBWY | XMMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.35 | ||
| Sortino ratioReturn per unit of downside risk | +0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.21 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.73 | 2.76 | -0.03 |
| Martin ratioReturn relative to average drawdown | 6.62 | 9.60 | -2.98 |
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Drawdowns
KBWY vs. XMMO - Drawdown Comparison
The maximum KBWY drawdown since its inception was -57.68%, roughly equal to the maximum XMMO drawdown of -55.37%. Use the drawdown chart below to compare losses from any high point for KBWY and XMMO.
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Drawdown Indicators
| KBWY | XMMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.68% | -55.37% | -2.31% |
Max Drawdown (1Y)Largest decline over 1 year | -9.24% | -8.71% | -0.53% |
Max Drawdown (3Y)Largest decline over 3 years | -29.93% | -24.93% | -5.00% |
Max Drawdown (5Y)Largest decline over 5 years | -32.29% | -27.91% | -4.38% |
Max Drawdown (10Y)Largest decline over 10 years | -57.68% | -36.74% | -20.94% |
Current DrawdownCurrent decline from peak | -3.86% | -7.50% | +3.64% |
Average DrawdownAverage peak-to-trough decline | -14.12% | -9.42% | -4.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.89% | 2.51% | +1.38% |
Volatility
KBWY vs. XMMO - Volatility Comparison
The current volatility for Invesco KBW Premium Yield Equity REIT ETF (KBWY) is 4.72%, while Invesco S&P MidCap Momentum ETF (XMMO) has a volatility of 6.93%. This indicates that KBWY 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
| KBWY | XMMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.72% | 6.93% | -2.21% |
Volatility (6M)Calculated over the trailing 6-month period | 12.20% | 17.50% | -5.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.64% | 20.67% | -4.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.60% | 21.75% | -0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.06% | 22.35% | +4.71% |
KBWY vs. XMMO - Expense Ratio Comparison
Both KBWY and XMMO have an expense ratio of 0.35%.
Dividends
KBWY vs. XMMO - Dividend Comparison
KBWY's dividend yield for the trailing twelve months is around 8.04%, more than XMMO's 0.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KBWY Invesco KBW Premium Yield Equity REIT ETF | 8.04% | 9.79% | 8.74% | 7.90% | 7.41% | 5.05% | 10.35% | 6.19% | 8.64% | 7.25% | 6.55% | 5.72% |
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
KBWY and XMMO have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XMMO has higher volatility (6.93%) compared to KBWY (4.72%). In terms of maximum drawdown, KBWY dropped -57.68% vs XMMO's -55.37%.
On 10-year performance, XMMO leads with 18.83% vs 0.99% for KBWY. Both ETFs have the same 0.35% expense ratio. On volatility, KBWY has been the lower-risk option at 4.72%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, XMMO has performed better with a 18.83% return vs 0.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KBWY and XMMO have the same expense ratio: 0.35% per year.
KBWY has the higher dividend yield at 8.04%, compared with 0.60% for XMMO.
KBWY is categorized as REIT, while XMMO is Momentum. KBWY tracks KBW Nasdaq Premium Yield Equity REIT Index, while XMMO tracks S&P MidCap 400 Momentum Index.
KBWY currently has the higher Sharpe Ratio (1.52 vs 1.17), 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.
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