PSL vs. USVM

Last updated Jul 15, 2026

PSL (Invesco DWA Consumer Staples Momentum ETF) and USVM (VictoryShares US Small Mid Cap Value Momentum ETF) are both Momentum funds - PSL tracks the DWA Consumer Staples Technical Leaders Index while USVM tracks the Nasdaq Victory US Small Mid Cap Value Momentum Index. Both are passively managed. Over the past 5 years, PSL returned 5.79%/yr vs 11.48%/yr for USVM. A 0.70 correlation means they provide meaningful diversification when combined. PSL charges 0.60%/yr vs 0.29%/yr for USVM.

Performance

PSL vs. USVM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco DWA Consumer Staples Momentum ETF (PSL) and VictoryShares US Small Mid Cap Value Momentum ETF (USVM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSL achieves a 13.86% return, which is significantly lower than USVM's 20.35% return.

PSL

• 1D: -0.93%
• 1M: 0.47%
• 6M: 8.59%
• YTD: 13.86%
• 1Y: 4.79%
• 3Y*: 10.47%
• 5Y*: 5.79%
• 10Y*: 8.01%

USVM

• 1D: 0.17%
• 1M: 1.10%
• 6M: 15.01%
• YTD: 20.35%
• 1Y: 30.27%
• 3Y*: 19.25%
• 5Y*: 11.48%
• 10Y*: —

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

PSL vs. USVM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PSL Invesco DWA Consumer Staples Momentum ETF	13.86%	-3.47%	15.42%	12.32%	-7.76%	6.88%	18.15%	14.16%	0.92%	6.61%
USVM VictoryShares US Small Mid Cap Value Momentum ETF	20.35%	10.56%	16.59%	18.90%	-13.23%	24.44%	11.56%	21.65%	-9.39%	2.06%

Correlation

The correlation between PSL and USVM is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (All Time) Calculated using the full available price history since Oct 26, 2017	0.70

Over the past year, the correlation between PSL and USVM has dropped to 0.43 - well below their long-term average of 0.70, suggesting their price drivers have been diverging.

PSL vs. USVM - Sectors Allocation Comparison

Sectors	PSL	USVM
Consumer Defensive	86.3%	3.7%
Consumer Cyclical	10.6%	12.3%
Financial Services	1.8%	25.1%
Industrials	1.4%	10.6%
Basic Materials	-	1.7%
Communication Services	-	3.0%
Energy	-	5.1%
Healthcare	-	12.8%
Real Estate	-	9.6%
Technology	-	8.7%
Utilities	-	7.4%

Return for Risk

PSL vs. USVM — Risk / Return Rank

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

PSL

PSL Risk / Return Rank: 14
PSL Sharpe Ratio Rank: 16
PSL Sortino Ratio Rank: 14
PSL Omega Ratio Rank: 14
PSL Calmar Ratio Rank: 14
PSL Martin Ratio Rank: 14

USVM

USVM Risk / Return Rank: 83
USVM Sharpe Ratio Rank: 82
USVM Sortino Ratio Rank: 85
USVM Omega Ratio Rank: 78
USVM Calmar Ratio Rank: 84
USVM Martin Ratio Rank: 86

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.

PSL vs. USVM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Consumer Staples Momentum ETF (PSL) and VictoryShares US Small Mid Cap Value Momentum ETF (USVM). 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.

	PSL	USVM	Difference
Sharpe ratio: Return per unit of total volatility	0.36	2.06	-1.69
Sortino ratio: Return per unit of downside risk	0.58	3.01	-2.43
Omega ratio: Gain probability vs. loss probability	1.07	1.36	-0.29
Calmar ratio: Return relative to maximum drawdown	0.35	3.64	-3.29
Martin ratio: Return relative to average drawdown	0.77	13.77	-13.00

PSL vs. USVM - Sharpe Ratio Comparison

The current PSL Sharpe Ratio is 0.36, which is lower than the USVM Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of PSL and USVM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PSL vs. USVM - Drawdown Comparison

The maximum PSL drawdown since its inception was -41.58%, roughly equal to the maximum USVM drawdown of -42.38%. Use the drawdown chart below to compare losses from any high point for PSL and USVM.

Drawdown Indicators

	PSL	USVM	Difference
Max Drawdown Largest peak-to-trough decline	-41.58%	-42.38%	+0.80%
Max Drawdown (1Y) Largest decline over 1 year	-13.64%	-8.36%	-5.28%
Max Drawdown (3Y) Largest decline over 3 years	-13.64%	-24.34%	+10.70%
Max Drawdown (5Y) Largest decline over 5 years	-18.96%	-25.27%	+6.31%
Max Drawdown (10Y) Largest decline over 10 years	-34.67%	—	—
Current Drawdown Current decline from peak	-2.32%	-0.75%	-1.57%
Average Drawdown Average peak-to-trough decline	-5.80%	-7.81%	+2.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.20%	2.21%	+3.99%

Volatility

PSL vs. USVM - Volatility Comparison

Invesco DWA Consumer Staples Momentum ETF (PSL) has a higher volatility of 4.05% compared to VictoryShares US Small Mid Cap Value Momentum ETF (USVM) at 2.92%. This indicates that PSL's price experiences larger fluctuations and is considered to be riskier than USVM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSL	USVM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.05%	2.92%	+1.13%
Volatility (6M) Calculated over the trailing 6-month period	9.25%	10.85%	-1.60%
Volatility (1Y) Calculated over the trailing 1-year period	13.24%	14.80%	-1.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.18%	19.56%	-4.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.51%	21.91%	-5.40%

PSL vs. USVM - Expense Ratio Comparison

PSL has a 0.60% expense ratio, which is higher than USVM's 0.29% expense ratio.

Dividends

PSL vs. USVM - Dividend Comparison

PSL's dividend yield for the trailing twelve months is around 0.74%, less than USVM's 1.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PSL Invesco DWA Consumer Staples Momentum ETF	0.74%	0.93%	0.60%	1.37%	1.98%	1.24%	0.80%	0.47%	0.75%	0.34%	2.08%	1.18%
USVM VictoryShares US Small Mid Cap Value Momentum ETF	1.83%	1.84%	1.75%	1.63%	1.43%	0.70%	1.21%	1.77%	1.43%	0.65%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PSL and USVM in my portfolio?

PSL and USVM have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSL or USVM?

PSL has higher volatility (4.05%) compared to USVM (2.92%). In terms of maximum drawdown, PSL dropped -41.58% vs USVM's -42.38%.

Which ETF is better, PSL or USVM?

On 5-year performance, USVM leads with 11.48% vs 5.79% for PSL. On fees, USVM is cheaper at 0.29% per year. On volatility, USVM has been the lower-risk option at 2.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSL or USVM?

Over the 5-year period, USVM has performed better with a 11.48% return vs 5.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSL or USVM?

USVM is cheaper with a 0.29% expense ratio, compared with 0.60% for PSL.

Which ETF pays a higher dividend yield, PSL or USVM?

USVM has the higher dividend yield at 1.83%, compared with 0.74% for PSL.

What is the main difference between PSL and USVM?

PSL tracks DWA Consumer Staples Technical Leaders Index, while USVM tracks Nasdaq Victory US Small Mid Cap Value Momentum Index. They also come from different issuers: Invesco and Victory Capital. Their fees differ too: 0.60% for PSL and 0.29% for USVM.

Which has better risk-adjusted returns?

USVM currently has the higher Sharpe Ratio (2.06 vs 0.36), 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.