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PWB vs. XMMO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

PWB vs. XMMO

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco Dynamic Large Cap Growth ETF (PWB) and Invesco S&P MidCap Momentum ETF (XMMO).

PWB and XMMO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PWB is a passively managed fund by Invesco that tracks the performance of the Dynamic Large Cap Growth Intellidex Index. It was launched on Mar 3, 2005. 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 PWB 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

PWB vs. XMMO - Performance Comparison

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

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PWB vs. XMMO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PWB
Invesco Dynamic Large Cap Growth ETF		-0.93%24.94%31.04%30.61%-25.81%19.58%31.89%24.68%0.88%30.71%
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, PWB achieves a -0.93% return, which is significantly lower than XMMO's 4.93% return. Over the past 10 years, PWB has underperformed XMMO with an annualized return of 15.44%, while XMMO has yielded a comparatively higher 18.19% annualized return.

PWB

1D
3.98%
1M
-7.08%
YTD
-0.93%
6M
0.41%
1Y
31.12%
3Y*
24.82%
5Y*
12.92%
10Y*
15.44%

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 Dynamic Large Cap Growth ETF

Invesco S&P MidCap Momentum ETF

Often compared with PWB:
PWB vs. SCHGPWB vs. QQQPWB vs. PRFPWB vs. PRFZPWB vs. SMHPWB vs. VGTPWB vs. VTI
Often compared with XMMO:
XMMO vs. SPMOXMMO vs. XMHQXMMO vs. VOOXMMO vs. SPGPXMMO vs. MTUMXMMO vs. QMOMXMMO vs. RFV

PWB vs. XMMO - Expense Ratio Comparison

PWB has a 0.56% expense ratio, which is higher than XMMO's 0.33% expense ratio.

PWB
Invesco Dynamic Large Cap Growth ETF
XMMO
Invesco S&P MidCap Momentum ETF

Return for Risk

PWB vs. XMMO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PWB
PWB Risk / Return Rank: 8080
Overall Rank
PWB Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
PWB Sortino Ratio Rank: 7777
Sortino Ratio Rank
PWB Omega Ratio Rank: 7474
Omega Ratio Rank
PWB Calmar Ratio Rank: 8686
Calmar Ratio Rank
PWB Martin Ratio Rank: 8787
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.

PWB vs. XMMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Large Cap Growth ETF (PWB) 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.

PWBXMMODifference

Sharpe ratio

Return per unit of total volatility

1.35

1.30

+0.04

Sortino ratio

Return per unit of downside risk

1.92

1.86

+0.06

Omega ratio

Gain probability vs. loss probability

1.27

1.26

+0.01

Calmar ratio

Return relative to maximum drawdown

2.59

2.28

+0.31

Martin ratio

Return relative to average drawdown

10.04

10.83

-0.80

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

PWB vs. XMMO - Sharpe Ratio Comparison

The current PWB Sharpe Ratio is 1.35, which is comparable to the XMMO Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of PWB 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.

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Sharpe Ratios by Period

PWBXMMODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.35

1.30

+0.04

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.62

0.58

+0.04

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.75

0.83

-0.07

Sharpe Ratio (All Time)

Calculated using the full available price history

0.55

0.54

+0.01

Correlation

The correlation between PWB and XMMO is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

PWB vs. XMMO - Dividend Comparison

PWB has not paid dividends to shareholders, while XMMO's dividend yield for the trailing twelve months is around 0.71%.

TTM20252024202320222021202020192018201720162015
PWB
Invesco Dynamic Large Cap Growth ETF		0.00%0.00%0.08%0.37%0.31%0.04%0.21%0.58%0.97%0.54%0.82%0.67%
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

PWB vs. XMMO - Drawdown Comparison

The maximum PWB drawdown since its inception was -52.58%, smaller than the maximum XMMO drawdown of -55.37%. Use the drawdown chart below to compare losses from any high point for PWB and XMMO.

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Drawdown Indicators

PWBXMMODifference

Max Drawdown

Largest peak-to-trough decline

-52.58%

-55.37%

+2.79%

Max Drawdown (1Y)

Largest decline over 1 year

-12.11%

-12.81%

+0.70%

Max Drawdown (5Y)

Largest decline over 5 years

-31.41%

-27.91%

-3.50%

Max Drawdown (10Y)

Largest decline over 10 years

-32.36%

-36.74%

+4.38%

Current Drawdown

Current decline from peak

-8.61%

-4.39%

-4.22%

Average Drawdown

Average peak-to-trough decline

-8.29%

-9.52%

+1.23%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.12%

2.69%

+0.43%

Volatility

PWB vs. XMMO - Volatility Comparison

The current volatility for Invesco Dynamic Large Cap Growth ETF (PWB) is 7.98%, while Invesco S&P MidCap Momentum ETF (XMMO) has a volatility of 9.07%. This indicates that PWB 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.

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Volatility by Period

PWBXMMODifference

Volatility (1M)

Calculated over the trailing 1-month period

7.98%

9.07%

-1.09%

Volatility (6M)

Calculated over the trailing 6-month period

15.16%

14.28%

+0.88%

Volatility (1Y)

Calculated over the trailing 1-year period

23.23%

21.97%

+1.26%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.96%

21.26%

-0.30%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.58%

22.11%

-1.53%