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MMSC vs. XSVM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MMSC vs. XSVM

Last updated Jun 24, 2026

MMSC (First Trust Multi-Manager Small Cap Opportunities ETF) and XSVM (Invesco S&P SmallCap Value with Momentum ETF) are both exchange-traded funds - MMSC is a Small Cap Growth Equities fund actively managed by First Trust, while XSVM is a Momentum fund tracking the S&P SmallCap 600 High Momentum Value Index. MMSC is actively managed, while XSVM is passively managed. Over the past 3 years, MMSC returned 22.45%/yr vs 17.66%/yr for XSVM. A 0.74 correlation means they provide meaningful diversification when combined. MMSC charges 0.95%/yr vs 0.37%/yr for XSVM.

Performance

MMSC vs. XSVM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Multi-Manager Small Cap Opportunities ETF (MMSC) and Invesco S&P SmallCap Value with Momentum ETF (XSVM). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, MMSC achieves a 18.96% return, which is significantly lower than XSVM's 20.98% return.

MMSC

1D
-2.02%
1M
2.63%
YTD
18.96%
6M
15.83%
1Y
42.61%
3Y*
22.45%
5Y*
—
10Y*
—

XSVM

1D
0.77%
1M
3.66%
YTD
20.98%
6M
18.82%
1Y
37.12%
3Y*
17.66%
5Y*
7.87%
10Y*
13.32%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MMSC vs. XSVM - Yearly Performance Comparison

2026 (YTD)20252024202320222021
MMSC
First Trust Multi-Manager Small Cap Opportunities ETF		18.96%15.45%22.19%18.76%-30.98%1.25%
XSVM
Invesco S&P SmallCap Value with Momentum ETF		20.98%7.47%2.30%20.20%-13.63%4.70%

Correlation

The correlation between MMSC and XSVM is 0.60, 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

0.60

Correlation (3Y)
Calculated over the trailing 3-year period

0.70

Correlation (All Time)
Calculated using the full available price history since Oct 14, 2021

0.74

The correlation between MMSC and XSVM shifts across timeframes, from 0.60 (1 year) to 0.74 (all time), reflecting how their relationship changes across market environments.

MMSC vs. XSVM - Sectors Allocation Comparison

Sectors
MMSC
XSVM

Industrials

27.2%
6.3%

Technology

26.5%
9.5%

Healthcare

21.3%
1.1%

Financial Services

7.7%
38.7%

Energy

6.3%
9.3%

Consumer Cyclical

5.8%
17.4%

Basic Materials

2.4%
2.0%

Consumer Defensive

1.5%
6.9%

Communication Services

0.7%
2.8%

Utilities

0.6%
1.2%

Real Estate

0.2%
4.8%

Industrials

MMSC
27.2%
XSVM
6.3%

Technology

MMSC
26.5%
XSVM
9.5%

Healthcare

MMSC
21.3%
XSVM
1.1%

Financial Services

MMSC
7.7%
XSVM
38.7%

Energy

MMSC
6.3%
XSVM
9.3%

Consumer Cyclical

MMSC
5.8%
XSVM
17.4%

Basic Materials

MMSC
2.4%
XSVM
2.0%

Consumer Defensive

MMSC
1.5%
XSVM
6.9%

Communication Services

MMSC
0.7%
XSVM
2.8%

Utilities

MMSC
0.6%
XSVM
1.2%

Real Estate

MMSC
0.2%
XSVM
4.8%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

First Trust Multi-Manager Small Cap Opportunities ETF

Invesco S&P SmallCap Value with Momentum ETF

Often compared with MMSC:
MMSC vs. PSCFMMSC vs. CBSEMMSC vs. XSMOMMSC vs. VBRMMSC vs. SPYMMSC vs. AVUVMMSC vs. VOO
Often compared with XSVM:
XSVM vs. XSMOXSVM vs. AVUVXSVM vs. RWJXSVM vs. XSHQXSVM vs. SPHBXSVM vs. DGRSXSVM vs. RYPRX

Return for Risk

MMSC vs. XSVM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MMSC
MMSC Risk / Return Rank: 6060
Overall Rank
MMSC Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
MMSC Sortino Ratio Rank: 5555
Sortino Ratio Rank
MMSC Omega Ratio Rank: 5353
Omega Ratio Rank
MMSC Calmar Ratio Rank: 6666
Calmar Ratio Rank
MMSC Martin Ratio Rank: 6868
Martin Ratio Rank
XSVM
XSVM Risk / Return Rank: 6767
Overall Rank
XSVM Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
XSVM Sortino Ratio Rank: 6767
Sortino Ratio Rank
XSVM Omega Ratio Rank: 6262
Omega Ratio Rank
XSVM Calmar Ratio Rank: 7676
Calmar Ratio Rank
XSVM Martin Ratio Rank: 6666
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.

MMSC vs. XSVM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Multi-Manager Small Cap Opportunities ETF (MMSC) and Invesco S&P SmallCap Value with Momentum ETF (XSVM). 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.

MMSCXSVMDifference
Sharpe ratioReturn per unit of total volatility
1.82
2.03

-0.21

Sortino ratioReturn per unit of downside risk
2.44
2.93

-0.49

Omega ratioGain probability vs. loss probability

1.31

1.36

-0.05

Calmar ratioReturn relative to maximum drawdown

3.04

3.70

-0.66

Martin ratioReturn relative to average drawdown

11.43

11.45

-0.01

MMSC vs. XSVM - Sharpe Ratio Comparison

The current MMSC Sharpe Ratio is 1.82, which is comparable to the XSVM Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of MMSC and XSVM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

MMSC vs. XSVM - Drawdown Comparison

The maximum MMSC drawdown since its inception was -40.82%, smaller than the maximum XSVM drawdown of -62.57%. Use the drawdown chart below to compare losses from any high point for MMSC and XSVM.

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Drawdown Indicators

MMSCXSVMDifference

Max Drawdown

Largest peak-to-trough decline

-40.82%

-62.57%

+21.75%

Max Drawdown (1Y)

Largest decline over 1 year

-14.10%

-10.08%

-4.02%

Max Drawdown (3Y)

Largest decline over 3 years

-29.76%

-26.21%

-3.55%

Max Drawdown (5Y)

Largest decline over 5 years

—

-26.21%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-49.02%

—

Current Drawdown

Current decline from peak

-2.02%

-0.73%

-1.29%

Average Drawdown

Average peak-to-trough decline

-18.58%

-11.54%

-7.04%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.74%

3.25%

+0.49%

Volatility

MMSC vs. XSVM - Volatility Comparison

First Trust Multi-Manager Small Cap Opportunities ETF (MMSC) has a higher volatility of 8.68% compared to Invesco S&P SmallCap Value with Momentum ETF (XSVM) at 4.63%. This indicates that MMSC's price experiences larger fluctuations and is considered to be riskier than XSVM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MMSCXSVMDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.68%

4.63%

+4.05%

Volatility (6M)

Calculated over the trailing 6-month period

18.32%

12.28%

+6.04%

Volatility (1Y)

Calculated over the trailing 1-year period

23.54%

18.54%

+5.00%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

24.59%

22.55%

+2.04%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.59%

25.07%

-0.48%

MMSC vs. XSVM - Expense Ratio Comparison

MMSC has a 0.95% expense ratio, which is higher than XSVM's 0.37% expense ratio.

Dividends

MMSC vs. XSVM - Dividend Comparison

MMSC has not paid dividends to shareholders, while XSVM's dividend yield for the trailing twelve months is around 1.82%.

PositionTTM20252024202320222021202020192018201720162015
MMSC
First Trust Multi-Manager Small Cap Opportunities ETF		0.00%0.00%0.41%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
XSVM
Invesco S&P SmallCap Value with Momentum ETF		1.82%2.29%1.69%1.31%1.79%1.23%1.21%1.22%2.54%1.90%2.29%2.68%

Frequently Asked Questions

MMSC and XSVM have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

MMSC has higher volatility (8.68%) compared to XSVM (4.63%). In terms of maximum drawdown, MMSC dropped -40.82% vs XSVM's -62.57%.

On 3-year performance, MMSC leads with 22.45% vs 17.66% for XSVM. On fees, XSVM is cheaper at 0.37% per year. On volatility, XSVM has been the lower-risk option at 4.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, MMSC has performed better with a 22.45% return vs 17.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

XSVM is cheaper with a 0.37% expense ratio, compared with 0.95% for MMSC.

XSVM has the higher dividend yield at 1.82%, compared with 0.00% for MMSC.

MMSC is categorized as Small Cap Growth Equities, while XSVM is Momentum. They also come from different issuers: First Trust and Invesco. Their fees differ too: 0.95% for MMSC and 0.37% for XSVM.

XSVM currently has the higher Sharpe Ratio (2.03 vs 1.82), 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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