PLW vs. XMMO

Last updated Jun 4, 2026

PLW (Invesco 1-30 Laddered Treasury ETF) and XMMO (Invesco S&P MidCap Momentum ETF) are both exchange-traded funds - PLW is a Government Bonds fund tracking the Ryan/NASDAQ 1-30 Year Treasury Laddered Index, while XMMO is a Momentum fund tracking the S&P MidCap 400 Momentum Index. Both are passively managed. Over the past 10 years, PLW returned -0.10%/yr vs 19.73%/yr for XMMO. At a correlation of -0.23, they often move in opposite directions. PLW charges 0.25%/yr vs 0.35%/yr for XMMO.

Performance

PLW vs. XMMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco 1-30 Laddered Treasury ETF (PLW) 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, PLW achieves a -0.55% return, which is significantly lower than XMMO's 23.73% return. Over the past 10 years, PLW has underperformed XMMO with an annualized return of -0.10%, while XMMO has yielded a comparatively higher 19.73% annualized return.

PLW

• 1D: -0.33%
• 1M: 0.34%
• YTD: -0.55%
• 6M: -1.32%
• 1Y: 4.34%
• 3Y*: 0.89%
• 5Y*: -2.77%
• 10Y*: -0.10%

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)

PLW vs. XMMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PLW Invesco 1-30 Laddered Treasury ETF	-0.55%	5.84%	-2.95%	3.31%	-19.98%	-3.76%	12.55%	10.00%	-0.28%	4.96%
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 PLW and XMMO is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.05
Correlation (10Y) Calculated over the trailing 10-year period	-0.06
Correlation (All Time) Calculated using the full available price history since Oct 12, 2007	-0.23

The correlation between PLW and XMMO shifts across timeframes, from -0.23 (all time) to 0.19 (1 year), reflecting how their relationship changes across market environments.

PLW vs. XMMO - Sectors Allocation Comparison

Sectors	PLW	XMMO
Financial Services	0.0%	2.4%
Basic Materials	-	7.2%
Communication Services	-	1.6%
Consumer Cyclical	-	4.6%
Consumer Defensive	-	0.5%
Energy	-	7.7%
Healthcare	-	6.3%
Industrials	-	41.1%
Real Estate	-	6.1%
Technology	-	16.7%
Utilities	-	5.8%

Return for Risk

PLW vs. XMMO — Risk / Return Rank

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

PLW

PLW Risk / Return Rank: 19
PLW Sharpe Ratio Rank: 20
PLW Sortino Ratio Rank: 19
PLW Omega Ratio Rank: 18
PLW Calmar Ratio Rank: 19
PLW Martin Ratio Rank: 20

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.

PLW vs. XMMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco 1-30 Laddered Treasury ETF (PLW) 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.

	PLW	XMMO	Difference
Sharpe ratio: Return per unit of total volatility	0.66	1.99	-1.32
Sortino ratio: Return per unit of downside risk	1.00	2.77	-1.77
Omega ratio: Gain probability vs. loss probability	1.11	1.35	-0.23
Calmar ratio: Return relative to maximum drawdown	0.80	4.45	-3.65
Martin ratio: Return relative to average drawdown	2.24	18.21	-15.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PLW vs. XMMO - Sharpe Ratio Comparison

The current PLW Sharpe Ratio is 0.66, which is lower than the XMMO Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of PLW 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

	PLW	XMMO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.66	1.99	-1.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.28	0.78	-1.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.01	0.89	-0.90
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.58	-0.26

Drawdowns

PLW vs. XMMO - Drawdown Comparison

The maximum PLW drawdown since its inception was -32.70%, smaller than the maximum XMMO drawdown of -55.37%. Use the drawdown chart below to compare losses from any high point for PLW and XMMO.

Drawdown Indicators

	PLW	XMMO	Difference
Max Drawdown Largest peak-to-trough decline	-32.70%	-55.37%	+22.67%
Max Drawdown (1Y) Largest decline over 1 year	-5.45%	-8.34%	+2.89%
Max Drawdown (3Y) Largest decline over 3 years	-11.58%	-24.93%	+13.35%
Max Drawdown (5Y) Largest decline over 5 years	-28.30%	-27.91%	-0.39%
Max Drawdown (10Y) Largest decline over 10 years	-32.70%	-36.74%	+4.04%
Current Drawdown Current decline from peak	-22.38%	0.00%	-22.38%
Average Drawdown Average peak-to-trough decline	-9.65%	-9.45%	-0.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.94%	2.04%	-0.10%

Volatility

PLW vs. XMMO - Volatility Comparison

The current volatility for Invesco 1-30 Laddered Treasury ETF (PLW) is 2.04%, while Invesco S&P MidCap Momentum ETF (XMMO) has a volatility of 7.82%. This indicates that PLW 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

	PLW	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	4.53%	15.54%	-11.01%
Volatility (1Y) Calculated over the trailing 1-year period	6.58%	18.71%	-12.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.86%	21.45%	-11.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.10%	22.27%	-13.17%

PLW vs. XMMO - Expense Ratio Comparison

PLW has a 0.25% expense ratio, which is lower than XMMO's 0.35% expense ratio.

Dividends

PLW vs. XMMO - Dividend Comparison

PLW's dividend yield for the trailing twelve months is around 3.83%, more than XMMO's 0.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PLW Invesco 1-30 Laddered Treasury ETF	3.83%	3.75%	3.56%	2.87%	1.97%	1.15%	1.00%	1.96%	2.14%	2.02%	2.00%	2.14%
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 PLW and XMMO in my portfolio?

PLW and XMMO have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PLW or XMMO?

XMMO has higher volatility (7.82%) compared to PLW (2.04%). In terms of maximum drawdown, PLW dropped -32.70% vs XMMO's -55.37%.

Which ETF is better, PLW or XMMO?

On 10-year performance, XMMO leads with 19.73% vs -0.10% for PLW. On fees, PLW is cheaper at 0.25% per year. On volatility, PLW 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, PLW or XMMO?

Over the 10-year period, XMMO has performed better with a 19.73% return vs -0.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PLW or XMMO?

PLW is cheaper with a 0.25% expense ratio, compared with 0.35% for XMMO.

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

PLW has the higher dividend yield at 3.83%, compared with 0.60% for XMMO.

What is the main difference between PLW and XMMO?

PLW is categorized as Government Bonds, while XMMO is Momentum. PLW tracks Ryan/NASDAQ 1-30 Year Treasury Laddered Index, while XMMO tracks S&P MidCap 400 Momentum Index. Their fees differ too: 0.25% for PLW and 0.35% for XMMO.

Which has better risk-adjusted returns?

XMMO currently has the higher Sharpe Ratio (1.99 vs 0.66), 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.