PFM vs. XMMO

Last updated Jun 4, 2026

PFM (Invesco Dividend Achievers™ ETF) and XMMO (Invesco S&P MidCap Momentum ETF) are both exchange-traded funds - PFM is a Large Cap Growth Equities fund tracking the NASDAQ US Broad Dividend Achievers Index, while XMMO is a Momentum fund tracking the S&P MidCap 400 Momentum Index. Both are passively managed. Over the past 10 years, PFM returned 11.82%/yr vs 19.73%/yr for XMMO. A 0.76 correlation means they provide meaningful diversification when combined. PFM charges 0.53%/yr vs 0.35%/yr for XMMO.

Performance

PFM vs. XMMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dividend Achievers™ ETF (PFM) 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, PFM achieves a 8.18% return, which is significantly lower than XMMO's 23.73% return. Over the past 10 years, PFM has underperformed XMMO with an annualized return of 11.82%, while XMMO has yielded a comparatively higher 19.73% annualized return.

PFM

• 1D: -0.23%
• 1M: 3.40%
• YTD: 8.18%
• 6M: 7.73%
• 1Y: 19.65%
• 3Y*: 16.31%
• 5Y*: 10.63%
• 10Y*: 11.82%

XMMO

• 1D: 0.62%
• 1M: 6.87%
• YTD: 23.73%
• 6M: 25.73%
• 1Y: 36.97%
• 3Y*: 32.10%
• 5Y*: 16.69%
• 10Y*: 19.73%

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

PFM vs. XMMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PFM Invesco Dividend Achievers™ ETF	8.18%	14.00%	16.87%	11.40%	-6.22%	23.08%	9.53%	26.88%	-4.58%	17.65%
XMMO Invesco S&P MidCap Momentum ETF	23.73%	13.04%	38.03%	20.39%	-16.02%	16.69%	29.17%	36.78%	6.12%	37.18%

Correlation

The correlation between PFM and XMMO is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Sep 16, 2005	0.76

The correlation between PFM and XMMO shifts across timeframes, from 0.65 (1 year) to 0.78 (5 years), reflecting how their relationship changes across market environments.

PFM vs. XMMO - Sectors Allocation Comparison

Sectors	PFM	XMMO
Technology	24.7%	16.7%
Financial Services	18.5%	2.4%
Healthcare	14.9%	6.3%
Consumer Defensive	12.0%	0.5%
Industrials	11.1%	41.1%
Energy	4.7%	7.7%
Utilities	4.2%	5.8%
Consumer Cyclical	4.0%	4.6%
Basic Materials	3.0%	7.2%
Real Estate	2.0%	6.1%
Communication Services	1.1%	1.6%

Return for Risk

PFM vs. XMMO — Risk / Return Rank

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

PFM

PFM Risk / Return Rank: 62
PFM Sharpe Ratio Rank: 61
PFM Sortino Ratio Rank: 66
PFM Omega Ratio Rank: 61
PFM Calmar Ratio Rank: 56
PFM Martin Ratio Rank: 63

XMMO

XMMO Risk / Return Rank: 67
XMMO Sharpe Ratio Rank: 57
XMMO Sortino Ratio Rank: 57
XMMO Omega Ratio Rank: 55
XMMO Calmar Ratio Rank: 83
XMMO Martin Ratio Rank: 85

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.

PFM vs. XMMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dividend Achievers™ ETF (PFM) 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.

	PFM	XMMO	Difference
Sharpe ratio: Return per unit of total volatility	2.09	1.99	+0.10
Sortino ratio: Return per unit of downside risk	3.07	2.77	+0.29
Omega ratio: Gain probability vs. loss probability	1.38	1.35	+0.03
Calmar ratio: Return relative to maximum drawdown	2.78	4.45	-1.67
Martin ratio: Return relative to average drawdown	11.28	18.21	-6.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PFM vs. XMMO - Sharpe Ratio Comparison

The current PFM Sharpe Ratio is 2.09, which is comparable to the XMMO Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of PFM 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

	PFM	XMMO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.09	1.99	+0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	0.78	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.78	0.89	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.58	-0.05

Drawdowns

PFM vs. XMMO - Drawdown Comparison

The maximum PFM drawdown since its inception was -53.21%, roughly equal to the maximum XMMO drawdown of -55.37%. Use the drawdown chart below to compare losses from any high point for PFM and XMMO.

Drawdown Indicators

	PFM	XMMO	Difference
Max Drawdown Largest peak-to-trough decline	-53.21%	-55.37%	+2.16%
Max Drawdown (1Y) Largest decline over 1 year	-7.09%	-8.34%	+1.25%
Max Drawdown (3Y) Largest decline over 3 years	-14.50%	-24.93%	+10.43%
Max Drawdown (5Y) Largest decline over 5 years	-17.81%	-27.91%	+10.10%
Max Drawdown (10Y) Largest decline over 10 years	-32.22%	-36.74%	+4.52%
Current Drawdown Current decline from peak	-0.23%	0.00%	-0.23%
Average Drawdown Average peak-to-trough decline	-6.94%	-9.45%	+2.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.75%	2.04%	-0.29%

Volatility

PFM vs. XMMO - Volatility Comparison

The current volatility for Invesco Dividend Achievers™ ETF (PFM) is 2.04%, while Invesco S&P MidCap Momentum ETF (XMMO) has a volatility of 7.82%. This indicates that PFM 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

	PFM	XMMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.04%	7.82%	-5.78%
Volatility (6M) Calculated over the trailing 6-month period	7.13%	15.54%	-8.41%
Volatility (1Y) Calculated over the trailing 1-year period	9.47%	18.71%	-9.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.54%	21.45%	-7.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.21%	22.27%	-7.06%

PFM vs. XMMO - Expense Ratio Comparison

PFM has a 0.53% expense ratio, which is higher than XMMO's 0.35% expense ratio.

Dividends

PFM vs. XMMO - Dividend Comparison

PFM's dividend yield for the trailing twelve months is around 1.33%, more than XMMO's 0.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PFM Invesco Dividend Achievers™ ETF	1.33%	1.41%	1.58%	1.86%	1.95%	1.69%	1.92%	1.94%	2.27%	1.70%	2.56%	2.36%
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

Can I hold both PFM and XMMO in my portfolio?

PFM and XMMO have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PFM or XMMO?

XMMO has higher volatility (7.82%) compared to PFM (2.04%). In terms of maximum drawdown, PFM dropped -53.21% vs XMMO's -55.37%.

Which ETF is better, PFM or XMMO?

On 10-year performance, XMMO leads with 19.73% vs 11.82% for PFM. On fees, XMMO is cheaper at 0.35% per year. On volatility, PFM has been the lower-risk option at 2.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PFM or XMMO?

Over the 10-year period, XMMO has performed better with a 19.73% return vs 11.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PFM or XMMO?

XMMO is cheaper with a 0.35% expense ratio, compared with 0.53% for PFM.

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

PFM has the higher dividend yield at 1.33%, compared with 0.60% for XMMO.

What is the main difference between PFM and XMMO?

PFM is categorized as Large Cap Growth Equities, while XMMO is Momentum. PFM tracks NASDAQ US Broad Dividend Achievers Index, while XMMO tracks S&P MidCap 400 Momentum Index. Their fees differ too: 0.53% for PFM and 0.35% for XMMO.

Which has better risk-adjusted returns?

PFM currently has the higher Sharpe Ratio (2.09 vs 1.99), 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.