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PXI vs. XSVM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PXI vs. XSVM

Last updated Jul 17, 2026
Documentation

PXI (Invesco DWA Energy Momentum ETF) and XSVM (Invesco S&P SmallCap Value with Momentum ETF) are both Momentum funds from Invesco - PXI tracks the Dorsey Wright Energy Technical Leaders Index while XSVM tracks the S&P SmallCap 600 High Momentum Value Index. Both are passively managed. Over the past 10 years, PXI returned 5.99%/yr vs 13.24%/yr for XSVM. A 0.64 correlation means they provide meaningful diversification when combined. PXI charges 0.60%/yr vs 0.37%/yr for XSVM.

Performance

PXI vs. XSVM - Performance Comparison

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

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Returns By Period

In the year-to-date period, PXI achieves a 29.33% return, which is significantly higher than XSVM's 27.27% return. Over the past 10 years, PXI has underperformed XSVM with an annualized return of 5.99%, while XSVM has yielded a comparatively higher 13.24% annualized return.

PXI

1D
0.36%
1M
4.93%
6M
21.82%
YTD
29.33%
1Y
36.87%
3Y*
14.84%
5Y*
20.30%
10Y*
5.99%

XSVM

1D
1.93%
1M
5.70%
6M
19.21%
YTD
27.27%
1Y
38.30%
3Y*
16.67%
5Y*
10.61%
10Y*
13.24%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PXI vs. XSVM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PXI
Invesco DWA Energy Momentum ETF		29.33%3.86%0.76%5.48%45.85%75.05%-35.91%1.67%-27.56%-8.42%
XSVM
Invesco S&P SmallCap Value with Momentum ETF		27.27%7.47%2.30%20.20%-13.63%56.36%5.08%30.01%-12.33%3.62%

Correlation

The correlation between PXI and XSVM is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.16

Correlation (3Y)
Calculated over the trailing 3-year period

0.46

Correlation (5Y)
Calculated over the trailing 5-year period

0.55

Correlation (10Y)
Calculated over the trailing 10-year period

0.62

Correlation (All Time)
Calculated using the full available price history since Oct 12, 2006

0.64

Over the past year, the correlation between PXI and XSVM has dropped to 0.16 - well below their long-term average of 0.64, suggesting their price drivers have been diverging.

PXI vs. XSVM - Sectors Allocation Comparison

Sectors
PXI
XSVM

Energy

95.1%
5.7%

Basic Materials

4.9%
4.2%

Industrials

0.9%
4.7%

Financial Services

0.3%
42.7%

Communication Services

-

1.9%

Consumer Cyclical

-

15.6%

Consumer Defensive

-

1.8%

Healthcare

-

1.7%

Real Estate

-

7.7%

Technology

-

2.9%

Utilities

-

2.1%

Energy

PXI
95.1%
XSVM
5.7%

Basic Materials

PXI
4.9%
XSVM
4.2%

Industrials

PXI
0.9%
XSVM
4.7%

Financial Services

PXI
0.3%
XSVM
42.7%

Communication Services

PXI

-

XSVM
1.9%

Consumer Cyclical

PXI

-

XSVM
15.6%

Consumer Defensive

PXI

-

XSVM
1.8%

Healthcare

PXI

-

XSVM
1.7%

Real Estate

PXI

-

XSVM
7.7%

Technology

PXI

-

XSVM
2.9%

Utilities

PXI

-

XSVM
2.1%

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 Energy Momentum ETF

Invesco S&P SmallCap Value with Momentum ETF

Often compared with PXI:
PXI vs. SXCPXI vs. SPMOPXI vs. ENFRPXI vs. CLSEPXI vs. XOPPXI vs. XEG.TOPXI vs. FENY
Often compared with XSVM:
XSVM vs. XSMOXSVM vs. AVUVXSVM vs. RWJXSVM vs. XSHQXSVM vs. SPHBXSVM vs. DGRSXSVM vs. RYPRX

Return for Risk

PXI vs. XSVM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PXI
PXI Risk / Return Rank: 6161
Overall Rank
PXI Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
PXI Sortino Ratio Rank: 5757
Sortino Ratio Rank
PXI Omega Ratio Rank: 5454
Omega Ratio Rank
PXI Calmar Ratio Rank: 7474
Calmar Ratio Rank
PXI Martin Ratio Rank: 5959
Martin Ratio Rank
XSVM
XSVM Risk / Return Rank: 8383
Overall Rank
XSVM Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
XSVM Sortino Ratio Rank: 8585
Sortino Ratio Rank
XSVM Omega Ratio Rank: 8080
Omega Ratio Rank
XSVM Calmar Ratio Rank: 8686
Calmar Ratio Rank
XSVM Martin Ratio Rank: 7979
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.

PXI vs. XSVM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Energy Momentum ETF (PXI) and Invesco S&P SmallCap Value with Momentum ETF (XSVM). 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.

PXIXSVMDifference
Sharpe ratioReturn per unit of total volatility
1.66
2.13

-0.47

Sortino ratioReturn per unit of downside risk
2.20
3.08

-0.88

Omega ratioGain probability vs. loss probability

1.27

1.38

-0.10

Calmar ratioReturn relative to maximum drawdown

2.99

3.82

-0.83

Martin ratioReturn relative to average drawdown

8.17

11.85

-3.67

PXI vs. XSVM - Sharpe Ratio Comparison

The current PXI Sharpe Ratio is 1.66, which is comparable to the XSVM Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of PXI and XSVM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

PXI vs. XSVM - Drawdown Comparison

The maximum PXI drawdown since its inception was -85.08%, which is greater than XSVM's maximum drawdown of -62.57%. Use the drawdown chart below to compare losses from any high point for PXI and XSVM.

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Drawdown Indicators

PXIXSVMDifference

Max Drawdown

Largest peak-to-trough decline

-85.08%

-62.57%

-22.51%

Max Drawdown (1Y)

Largest decline over 1 year

-12.40%

-10.08%

-2.32%

Max Drawdown (3Y)

Largest decline over 3 years

-30.74%

-26.21%

-4.53%

Max Drawdown (5Y)

Largest decline over 5 years

-33.47%

-26.21%

-7.26%

Max Drawdown (10Y)

Largest decline over 10 years

-79.55%

-49.02%

-30.53%

Current Drawdown

Current decline from peak

-5.78%

0.00%

-5.78%

Average Drawdown

Average peak-to-trough decline

-29.31%

-11.51%

-17.80%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.52%

3.24%

+1.28%

Volatility

PXI vs. XSVM - Volatility Comparison

Invesco DWA Energy Momentum ETF (PXI) has a higher volatility of 6.64% compared to Invesco S&P SmallCap Value with Momentum ETF (XSVM) at 4.48%. This indicates that PXI's price experiences larger fluctuations and is considered to be riskier than XSVM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PXIXSVMDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.64%

4.48%

+2.16%

Volatility (6M)

Calculated over the trailing 6-month period

17.57%

12.40%

+5.17%

Volatility (1Y)

Calculated over the trailing 1-year period

22.32%

18.09%

+4.23%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

33.07%

22.45%

+10.62%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

36.97%

25.00%

+11.97%

PXI vs. XSVM - Expense Ratio Comparison

PXI has a 0.60% expense ratio, which is higher than XSVM's 0.37% expense ratio.

Dividends

PXI vs. XSVM - Dividend Comparison

PXI's dividend yield for the trailing twelve months is around 1.27%, less than XSVM's 1.73% yield.

PositionTTM20252024202320222021202020192018201720162015
PXI
Invesco DWA Energy Momentum ETF		1.27%1.81%1.52%1.82%3.14%0.57%1.72%2.80%0.93%0.80%0.73%2.07%
XSVM
Invesco S&P SmallCap Value with Momentum ETF		1.73%2.29%1.69%1.31%1.79%1.23%1.21%1.22%2.54%1.90%2.29%2.68%

Frequently Asked Questions

PXI and XSVM have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

PXI has higher volatility (6.64%) compared to XSVM (4.48%). In terms of maximum drawdown, PXI dropped -85.08% vs XSVM's -62.57%.

On 10-year performance, XSVM leads with 13.24% vs 5.99% for PXI. On fees, XSVM is cheaper at 0.37% per year. On volatility, XSVM has been the lower-risk option at 4.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, XSVM has performed better with a 13.24% return vs 5.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

XSVM is cheaper with a 0.37% expense ratio, compared with 0.60% for PXI.

XSVM has the higher dividend yield at 1.73%, compared with 1.27% for PXI.

PXI tracks Dorsey Wright Energy Technical Leaders Index, while XSVM tracks S&P SmallCap 600 High Momentum Value Index. Their fees differ too: 0.60% for PXI and 0.37% for XSVM.

XSVM currently has the higher Sharpe Ratio (2.13 vs 1.66), 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.

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