QVMS vs. XMHQ
Compare and contrast key facts about Invesco S&P SmallCap 600 QVM Multi-factor ETF (QVMS) and Invesco S&P MidCap Quality ETF (XMHQ).
QVMS and XMHQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QVMS is a passively managed fund by Invesco that tracks the performance of the S&P Small Cap 600. It was launched on Jun 30, 2021. XMHQ is a passively managed fund by Invesco that tracks the performance of the S&P MidCap 400 Index. It was launched on Dec 1, 2006. Both QVMS and XMHQ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: QVMS or XMHQ.
Key characteristics
| QVMS | XMHQ | |
|---|---|---|
| YTD Return | 19.03% | 25.99% |
| 1Y Return | 40.59% | 40.22% |
| 3Y Return (Ann) | 4.98% | 11.37% |
| Sharpe Ratio | 2.03 | 2.35 |
| Sortino Ratio | 2.98 | 3.29 |
| Omega Ratio | 1.36 | 1.39 |
| Calmar Ratio | 2.31 | 4.14 |
| Martin Ratio | 12.16 | 10.18 |
| Ulcer Index | 3.46% | 4.19% |
| Daily Std Dev | 20.74% | 18.13% |
| Max Drawdown | -24.77% | -58.19% |
| Current Drawdown | 0.00% | 0.00% |
Correlation
The correlation between QVMS and XMHQ is 0.92, 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.
Performance
QVMS vs. XMHQ - Performance Comparison
In the year-to-date period, QVMS achieves a 19.03% return, which is significantly lower than XMHQ's 25.99% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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QVMS vs. XMHQ - Expense Ratio Comparison
QVMS has a 0.15% expense ratio, which is lower than XMHQ's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
QVMS vs. XMHQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap 600 QVM Multi-factor ETF (QVMS) and Invesco S&P MidCap Quality ETF (XMHQ). 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.
Dividends
QVMS vs. XMHQ - Dividend Comparison
QVMS's dividend yield for the trailing twelve months is around 1.19%, less than XMHQ's 4.78% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QVMS Invesco S&P SmallCap 600 QVM Multi-factor ETF | 1.19% | 1.51% | 1.58% | 0.64% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XMHQ Invesco S&P MidCap Quality ETF | 4.78% | 0.73% | 1.72% | 1.00% | 1.12% | 1.22% | 1.59% | 1.06% | 1.64% | 1.34% | 1.25% | 1.11% |
Drawdowns
QVMS vs. XMHQ - Drawdown Comparison
The maximum QVMS drawdown since its inception was -24.77%, smaller than the maximum XMHQ drawdown of -58.19%. Use the drawdown chart below to compare losses from any high point for QVMS and XMHQ. For additional features, visit the drawdowns tool.
Volatility
QVMS vs. XMHQ - Volatility Comparison
Invesco S&P SmallCap 600 QVM Multi-factor ETF (QVMS) has a higher volatility of 7.57% compared to Invesco S&P MidCap Quality ETF (XMHQ) at 5.51%. This indicates that QVMS's price experiences larger fluctuations and is considered to be riskier than XMHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.