PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
QVMS vs. XSVM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QVMS vs. XSVM

Last updated Jun 23, 2026

QVMS (Invesco S&P SmallCap 600 QVM Multi-factor ETF) and XSVM (Invesco S&P SmallCap Value with Momentum ETF) are both exchange-traded funds - QVMS is a Multi-factor fund tracking the S&P Small Cap 600, while XSVM is a Momentum fund tracking the S&P SmallCap 600 High Momentum Value Index. Both are passively managed. Over the past 3 years, QVMS returned 16.95%/yr vs 17.36%/yr for XSVM. Their correlation of 0.95 suggests significant overlap in exposure. QVMS charges 0.15%/yr vs 0.37%/yr for XSVM.

Performance

QVMS vs. XSVM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap 600 QVM Multi-factor ETF (QVMS) and Invesco S&P SmallCap Value with Momentum ETF (XSVM). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

The year-to-date returns for both stocks are quite close, with QVMS having a 20.78% return and XSVM slightly lower at 20.07%.

QVMS

1D
0.19%
1M
5.14%
YTD
20.78%
6M
17.79%
1Y
37.18%
3Y*
16.95%
5Y*
—
10Y*
—

XSVM

1D
-0.05%
1M
2.87%
YTD
20.07%
6M
17.31%
1Y
39.24%
3Y*
17.36%
5Y*
8.01%
10Y*
13.24%
*Multi-year figures are annualized to reflect compound growth (CAGR)

QVMS vs. XSVM - Yearly Performance Comparison

2026 (YTD)20252024202320222021
QVMS
Invesco S&P SmallCap 600 QVM Multi-factor ETF		20.78%5.56%9.50%16.89%-14.61%4.82%
XSVM
Invesco S&P SmallCap Value with Momentum ETF		20.07%7.47%2.30%20.20%-13.63%7.77%

Correlation

The correlation between QVMS and XSVM is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.92

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

0.94

Correlation (All Time)
Calculated using the full available price history since Jun 30, 2021

0.95

The correlation between QVMS and XSVM has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

QVMS vs. XSVM - Sectors Allocation Comparison

Sectors
QVMS
XSVM

Financial Services

18.0%
38.7%

Technology

16.7%
9.5%

Industrials

16.3%
6.3%

Consumer Cyclical

13.4%
17.4%

Healthcare

11.1%
1.1%

Real Estate

7.1%
4.8%

Energy

5.6%
9.3%

Basic Materials

5.0%
2.0%

Consumer Defensive

2.8%
6.9%

Utilities

2.1%
1.2%

Communication Services

1.9%
2.8%

Financial Services

QVMS
18.0%
XSVM
38.7%

Technology

QVMS
16.7%
XSVM
9.5%

Industrials

QVMS
16.3%
XSVM
6.3%

Consumer Cyclical

QVMS
13.4%
XSVM
17.4%

Healthcare

QVMS
11.1%
XSVM
1.1%

Real Estate

QVMS
7.1%
XSVM
4.8%

Energy

QVMS
5.6%
XSVM
9.3%

Basic Materials

QVMS
5.0%
XSVM
2.0%

Consumer Defensive

QVMS
2.8%
XSVM
6.9%

Utilities

QVMS
2.1%
XSVM
1.2%

Communication Services

QVMS
1.9%
XSVM
2.8%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco S&P SmallCap 600 QVM Multi-factor ETF

Invesco S&P SmallCap Value with Momentum ETF

Often compared with QVMS:
QVMS vs. QVMLQVMS vs. QVMMQVMS vs. XMHQQVMS vs. RTAIQVMS vs. AVUVQVMS vs. DESQVMS vs. OMFS
Often compared with XSVM:
XSVM vs. XSMOXSVM vs. AVUVXSVM vs. RWJXSVM vs. XSHQXSVM vs. SPHBXSVM vs. DGRSXSVM vs. RYPRX

Return for Risk

QVMS vs. XSVM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QVMS
QVMS Risk / Return Rank: 7171
Overall Rank
QVMS Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
QVMS Sortino Ratio Rank: 7070
Sortino Ratio Rank
QVMS Omega Ratio Rank: 6060
Omega Ratio Rank
QVMS Calmar Ratio Rank: 8383
Calmar Ratio Rank
QVMS Martin Ratio Rank: 7878
Martin Ratio Rank
XSVM
XSVM Risk / Return Rank: 7070
Overall Rank
XSVM Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
XSVM Sortino Ratio Rank: 7070
Sortino Ratio Rank
XSVM Omega Ratio Rank: 6464
Omega Ratio Rank
XSVM Calmar Ratio Rank: 7878
Calmar Ratio Rank
XSVM Martin Ratio Rank: 6868
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.

QVMS vs. XSVM - Risk-Adjusted Trends 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 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.

QVMSXSVMDifference
Sharpe ratioReturn per unit of total volatility
2.10
2.13

-0.03

Sortino ratioReturn per unit of downside risk
3.04
3.06

-0.02

Omega ratioGain probability vs. loss probability

1.36

1.37

-0.02

Calmar ratioReturn relative to maximum drawdown

4.25

3.91

+0.34

Martin ratioReturn relative to average drawdown

14.44

12.10

+2.34

QVMS vs. XSVM - Sharpe Ratio Comparison

The current QVMS Sharpe Ratio is 2.10, which is comparable to the XSVM Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of QVMS 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.

Loading charts...

Drawdowns

QVMS vs. XSVM - Drawdown Comparison

The maximum QVMS drawdown since its inception was -28.05%, smaller than the maximum XSVM drawdown of -62.57%. Use the drawdown chart below to compare losses from any high point for QVMS and XSVM.

Loading charts...

Drawdown Indicators

QVMSXSVMDifference

Max Drawdown

Largest peak-to-trough decline

-28.05%

-62.57%

+34.52%

Max Drawdown (1Y)

Largest decline over 1 year

-8.78%

-10.08%

+1.30%

Max Drawdown (3Y)

Largest decline over 3 years

-28.05%

-26.21%

-1.84%

Max Drawdown (5Y)

Largest decline over 5 years

—

-26.21%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-49.02%

—

Current Drawdown

Current decline from peak

0.00%

-1.49%

+1.49%

Average Drawdown

Average peak-to-trough decline

-9.01%

-11.54%

+2.53%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.58%

3.25%

-0.67%

Volatility

QVMS vs. XSVM - Volatility Comparison

Invesco S&P SmallCap 600 QVM Multi-factor ETF (QVMS) has a higher volatility of 5.02% compared to Invesco S&P SmallCap Value with Momentum ETF (XSVM) at 4.60%. This indicates that QVMS'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.

Loading charts...

Volatility by Period

QVMSXSVMDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.02%

4.60%

+0.42%

Volatility (6M)

Calculated over the trailing 6-month period

12.43%

12.27%

+0.16%

Volatility (1Y)

Calculated over the trailing 1-year period

17.86%

18.57%

-0.71%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.23%

22.55%

-1.32%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.23%

25.09%

-3.86%

QVMS vs. XSVM - Expense Ratio Comparison

QVMS has a 0.15% expense ratio, which is lower than XSVM's 0.37% expense ratio.

Dividends

QVMS vs. XSVM - Dividend Comparison

QVMS's dividend yield for the trailing twelve months is around 1.37%, less than XSVM's 2.23% yield.

PositionTTM20252024202320222021202020192018201720162015
QVMS
Invesco S&P SmallCap 600 QVM Multi-factor ETF		1.16%1.10%1.53%1.51%1.58%0.64%0.00%0.00%0.00%0.00%0.00%0.00%
XSVM
Invesco S&P SmallCap Value with Momentum ETF		1.83%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

With a correlation of 0.92, QVMS and XSVM move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

QVMS has higher volatility (5.02%) compared to XSVM (4.60%). In terms of maximum drawdown, QVMS dropped -28.05% vs XSVM's -62.57%.

On 3-year performance, XSVM leads with 17.36% vs 16.95% for QVMS. On fees, QVMS is cheaper at 0.15% per year. On volatility, XSVM has been the lower-risk option at 4.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, XSVM has performed better with a 17.36% return vs 16.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QVMS is cheaper with a 0.15% expense ratio, compared with 0.37% for XSVM.

XSVM has the higher dividend yield at 2.23%, compared with 1.37% for QVMS.

QVMS is categorized as Multi-factor, while XSVM is Momentum. QVMS tracks S&P Small Cap 600, while XSVM tracks S&P SmallCap 600 High Momentum Value Index. Their fees differ too: 0.15% for QVMS and 0.37% for XSVM.

XSVM currently has the higher Sharpe Ratio (2.13 vs 2.10), 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.

Portfolio Optimizer

Find the right allocation for QVMS and XSVM

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer