PTH vs. XMVM

Last updated Jul 17, 2026

PTH (Invesco DWA Healthcare Momentum ETF) and XMVM (Invesco S&P MidCap Value with Momentum ETF) are both Momentum funds from Invesco - PTH tracks the Dorsey Wright Healthcare Technical Leaders Index while XMVM tracks the S&P MidCap 400 High Momentum Value Index. Both are passively managed. Over the past 10 years, PTH returned 14.57%/yr vs 12.11%/yr for XMVM. A 0.58 correlation means they provide meaningful diversification when combined. PTH charges 0.60%/yr vs 0.39%/yr for XMVM.

Performance

PTH vs. XMVM - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with PTH having a 17.14% return and XMVM slightly lower at 16.49%. Over the past 10 years, PTH has outperformed XMVM with an annualized return of 14.57%, while XMVM has yielded a comparatively lower 12.11% annualized return.

PTH

• 1D: -2.68%
• 1M: 12.36%
• 6M: 17.65%
• YTD: 17.14%
• 1Y: 56.88%
• 3Y*: 14.27%
• 5Y*: 2.22%
• 10Y*: 14.57%

XMVM

• 1D: 1.85%
• 1M: 4.62%
• 6M: 12.27%
• YTD: 16.49%
• 1Y: 33.46%
• 3Y*: 18.58%
• 5Y*: 13.33%
• 10Y*: 12.11%

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

PTH vs. XMVM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PTH Invesco DWA Healthcare Momentum ETF	17.14%	27.91%	2.36%	-4.54%	-20.61%	-3.20%	67.26%	34.45%	-1.23%	50.15%
XMVM Invesco S&P MidCap Value with Momentum ETF	16.49%	18.46%	11.73%	16.31%	-8.21%	35.15%	5.68%	30.38%	-9.62%	2.79%

Correlation

The correlation between PTH and XMVM is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (10Y) Calculated over the trailing 10-year period	0.48
Correlation (All Time) Calculated using the full available price history since Oct 12, 2006	0.58

Over the past year, the correlation between PTH and XMVM has dropped to 0.34 - well below their long-term average of 0.58, suggesting their price drivers have been diverging.

PTH vs. XMVM - Sectors Allocation Comparison

Sectors	PTH	XMVM
Healthcare	93.6%	0.7%
Financial Services	1.2%	41.9%
Basic Materials	-	0.8%
Communication Services	-	0.9%
Consumer Cyclical	-	15.0%
Consumer Defensive	-	7.1%
Energy	-	8.0%
Industrials	-	8.8%
Real Estate	-	4.2%
Technology	-	4.0%
Utilities	-	9.5%

Return for Risk

PTH vs. XMVM — Risk / Return Rank

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

PTH

PTH Risk / Return Rank: 86
PTH Sharpe Ratio Rank: 89
PTH Sortino Ratio Rank: 86
PTH Omega Ratio Rank: 81
PTH Calmar Ratio Rank: 92
PTH Martin Ratio Rank: 80

XMVM

XMVM Risk / Return Rank: 84
XMVM Sharpe Ratio Rank: 87
XMVM Sortino Ratio Rank: 89
XMVM Omega Ratio Rank: 85
XMVM Calmar Ratio Rank: 84
XMVM Martin Ratio Rank: 77

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.

PTH vs. XMVM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Healthcare Momentum ETF (PTH) and Invesco S&P MidCap Value with Momentum ETF (XMVM). 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.

	PTH	XMVM	Difference
Sharpe ratio: Return per unit of total volatility	2.35	2.27	+0.08
Sortino ratio: Return per unit of downside risk	3.13	3.29	-0.15
Omega ratio: Gain probability vs. loss probability	1.38	1.41	-0.03
Calmar ratio: Return relative to maximum drawdown	4.77	3.66	+1.11
Martin ratio: Return relative to average drawdown	12.03	11.45	+0.59

PTH vs. XMVM - Sharpe Ratio Comparison

The current PTH Sharpe Ratio is 2.35, which is comparable to the XMVM Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of PTH and XMVM, 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

PTH vs. XMVM - Drawdown Comparison

The maximum PTH drawdown since its inception was -53.52%, smaller than the maximum XMVM drawdown of -62.83%. Use the drawdown chart below to compare losses from any high point for PTH and XMVM.

Drawdown Indicators

	PTH	XMVM	Difference
Max Drawdown Largest peak-to-trough decline	-53.52%	-62.83%	+9.31%
Max Drawdown (1Y) Largest decline over 1 year	-11.98%	-9.18%	-2.80%
Max Drawdown (3Y) Largest decline over 3 years	-27.51%	-24.12%	-3.39%
Max Drawdown (5Y) Largest decline over 5 years	-50.07%	-24.12%	-25.95%
Max Drawdown (10Y) Largest decline over 10 years	-53.52%	-45.07%	-8.45%
Current Drawdown Current decline from peak	-5.60%	0.00%	-5.60%
Average Drawdown Average peak-to-trough decline	-16.95%	-10.22%	-6.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.74%	2.93%	+1.81%

Volatility

PTH vs. XMVM - Volatility Comparison

Invesco DWA Healthcare Momentum ETF (PTH) has a higher volatility of 7.37% compared to Invesco S&P MidCap Value with Momentum ETF (XMVM) at 3.35%. This indicates that PTH's price experiences larger fluctuations and is considered to be riskier than XMVM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PTH	XMVM	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.37%	3.35%	+4.02%
Volatility (6M) Calculated over the trailing 6-month period	19.37%	9.57%	+9.80%
Volatility (1Y) Calculated over the trailing 1-year period	24.34%	14.83%	+9.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.68%	21.34%	+4.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.33%	22.73%	+4.60%

PTH vs. XMVM - Expense Ratio Comparison

PTH has a 0.60% expense ratio, which is higher than XMVM's 0.39% expense ratio.

Dividends

PTH vs. XMVM - Dividend Comparison

PTH's dividend yield for the trailing twelve months is around 2.62%, more than XMVM's 1.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PTH Invesco DWA Healthcare Momentum ETF	2.62%	3.07%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XMVM Invesco S&P MidCap Value with Momentum ETF	1.80%	2.07%	1.43%	1.57%	1.76%	1.10%	1.37%	1.73%	2.87%	2.22%	2.27%	2.58%

Frequently Asked Questions

Can I hold both PTH and XMVM in my portfolio?

PTH and XMVM have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PTH or XMVM?

PTH has higher volatility (7.37%) compared to XMVM (3.35%). In terms of maximum drawdown, PTH dropped -53.52% vs XMVM's -62.83%.

Which ETF is better, PTH or XMVM?

On 10-year performance, PTH leads with 14.57% vs 12.11% for XMVM. On fees, XMVM is cheaper at 0.39% per year. On volatility, XMVM has been the lower-risk option at 3.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PTH or XMVM?

Over the 10-year period, PTH has performed better with a 14.57% return vs 12.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PTH or XMVM?

XMVM is cheaper with a 0.39% expense ratio, compared with 0.60% for PTH.

Which ETF pays a higher dividend yield, PTH or XMVM?

PTH has the higher dividend yield at 2.62%, compared with 1.80% for XMVM.

What is the main difference between PTH and XMVM?

PTH tracks Dorsey Wright Healthcare Technical Leaders Index, while XMVM tracks S&P MidCap 400 High Momentum Value Index. Their fees differ too: 0.60% for PTH and 0.39% for XMVM.

Which has better risk-adjusted returns?

PTH currently has the higher Sharpe Ratio (2.35 vs 2.27), 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.