PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
PIZ vs. XMMO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

PIZ vs. XMMO

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco DWA Developed Markets Momentum ETF (PIZ) and Invesco S&P MidCap Momentum ETF (XMMO).

PIZ and XMMO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PIZ is a passively managed fund by Invesco that tracks the performance of the Dorsey Wright Developed Markets Technical Leaders Index. It was launched on Dec 28, 2007. 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. Both PIZ and XMMO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

PIZ vs. XMMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco DWA Developed Markets Momentum ETF (PIZ) and Invesco S&P MidCap Momentum ETF (XMMO). The values are adjusted to include any dividend payments, if applicable.

Loading graphics...

PIZ vs. XMMO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PIZ
Invesco DWA Developed Markets Momentum ETF		1.42%37.22%16.30%17.96%-30.48%20.53%17.96%27.51%-16.15%30.96%
XMMO
Invesco S&P MidCap Momentum ETF		4.93%13.04%38.03%20.39%-16.02%16.69%29.17%36.78%6.12%37.18%

Returns By Period

In the year-to-date period, PIZ achieves a 1.42% return, which is significantly lower than XMMO's 4.93% return. Over the past 10 years, PIZ has underperformed XMMO with an annualized return of 9.66%, while XMMO has yielded a comparatively higher 18.19% annualized return.

PIZ

1D
4.43%
1M
-10.41%
YTD
1.42%
6M
4.63%
1Y
32.20%
3Y*
20.23%
5Y*
9.25%
10Y*
9.66%

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)

Compare stocks, funds, or ETFs

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

Invesco DWA Developed Markets Momentum ETF

Invesco S&P MidCap Momentum ETF

Often compared with PIZ:
PIZ vs. IDMOPIZ vs. DSTXPIZ vs. WCMIXPIZ vs. IPOSPIZ vs. FNDFPIZ vs. IDHQPIZ vs. IOO
Often compared with XMMO:
XMMO vs. SPMOXMMO vs. XMHQXMMO vs. VOOXMMO vs. SPGPXMMO vs. MTUMXMMO vs. QMOMXMMO vs. RFV

PIZ vs. XMMO - Expense Ratio Comparison

PIZ has a 0.80% expense ratio, which is higher than XMMO's 0.33% expense ratio.

PIZ
Invesco DWA Developed Markets Momentum ETF
XMMO
Invesco S&P MidCap Momentum ETF

Return for Risk

PIZ vs. XMMO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PIZ
PIZ Risk / Return Rank: 8282
Overall Rank
PIZ Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
PIZ Sortino Ratio Rank: 8383
Sortino Ratio Rank
PIZ Omega Ratio Rank: 8181
Omega Ratio Rank
PIZ Calmar Ratio Rank: 8181
Calmar Ratio Rank
PIZ Martin Ratio Rank: 8383
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.

PIZ vs. XMMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Developed Markets Momentum ETF (PIZ) 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.

PIZXMMODifference

Sharpe ratio

Return per unit of total volatility

1.51

1.30

+0.21

Sortino ratio

Return per unit of downside risk

2.11

1.86

+0.25

Omega ratio

Gain probability vs. loss probability

1.31

1.26

+0.05

Calmar ratio

Return relative to maximum drawdown

2.19

2.28

-0.09

Martin ratio

Return relative to average drawdown

9.18

10.83

-1.66

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

PIZ vs. XMMO - Sharpe Ratio Comparison

The current PIZ Sharpe Ratio is 1.51, which is comparable to the XMMO Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of PIZ 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.

Loading graphics...

Sharpe Ratios by Period

PIZXMMODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.51

1.30

+0.21

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.48

0.58

-0.10

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.50

0.83

-0.32

Sharpe Ratio (All Time)

Calculated using the full available price history

0.25

0.54

-0.29

Correlation

The correlation between PIZ and XMMO is 0.69, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

PIZ vs. XMMO - Dividend Comparison

PIZ's dividend yield for the trailing twelve months is around 1.54%, more than XMMO's 0.71% yield.

TTM20252024202320222021202020192018201720162015
PIZ
Invesco DWA Developed Markets Momentum ETF		1.54%1.55%1.68%1.86%2.04%1.01%0.37%1.58%1.06%1.30%2.21%1.09%
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

PIZ vs. XMMO - Drawdown Comparison

The maximum PIZ drawdown since its inception was -60.61%, which is greater than XMMO's maximum drawdown of -55.37%. Use the drawdown chart below to compare losses from any high point for PIZ and XMMO.

Loading graphics...

Drawdown Indicators

PIZXMMODifference

Max Drawdown

Largest peak-to-trough decline

-60.61%

-55.37%

-5.24%

Max Drawdown (1Y)

Largest decline over 1 year

-14.35%

-12.81%

-1.54%

Max Drawdown (5Y)

Largest decline over 5 years

-40.93%

-27.91%

-13.02%

Max Drawdown (10Y)

Largest decline over 10 years

-40.93%

-36.74%

-4.19%

Current Drawdown

Current decline from peak

-10.56%

-4.39%

-6.17%

Average Drawdown

Average peak-to-trough decline

-14.99%

-9.52%

-5.47%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.42%

2.69%

+0.73%

Volatility

PIZ vs. XMMO - Volatility Comparison

Invesco DWA Developed Markets Momentum ETF (PIZ) has a higher volatility of 10.37% compared to Invesco S&P MidCap Momentum ETF (XMMO) at 9.07%. This indicates that PIZ's price experiences larger fluctuations and is considered to be riskier than XMMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading graphics...

Volatility by Period

PIZXMMODifference

Volatility (1M)

Calculated over the trailing 1-month period

10.37%

9.07%

+1.30%

Volatility (6M)

Calculated over the trailing 6-month period

14.75%

14.28%

+0.47%

Volatility (1Y)

Calculated over the trailing 1-year period

21.44%

21.97%

-0.53%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.44%

21.26%

-1.82%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.32%

22.11%

-2.79%