RFV vs. XMMO

Last updated Jun 23, 2026

RFV (Invesco S&P MidCap 400® Pure Value ETF) and XMMO (Invesco S&P MidCap Momentum ETF) are both exchange-traded funds - RFV is a Small Cap Value Equities fund tracking the S&P Mid Cap 400 Pure Value, while XMMO is a Momentum fund tracking the S&P MidCap 400 Momentum Index. Both are passively managed. Over the past 10 years, RFV returned 12.75%/yr vs 20.42%/yr for XMMO. A 0.74 correlation means they provide meaningful diversification when combined. Both charge a 0.35% expense ratio.

Performance

RFV vs. XMMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P MidCap 400® Pure Value ETF (RFV) and Invesco S&P MidCap Momentum ETF (XMMO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RFV achieves a 12.44% return, which is significantly lower than XMMO's 25.95% return. Over the past 10 years, RFV has underperformed XMMO with an annualized return of 12.75%, while XMMO has yielded a comparatively higher 20.42% annualized return.

RFV

• 1D: 0.15%
• 1M: 3.08%
• YTD: 12.44%
• 6M: 10.55%
• 1Y: 22.29%
• 3Y*: 15.14%
• 5Y*: 11.17%
• 10Y*: 12.75%

XMMO

• 1D: 1.31%
• 1M: 5.63%
• YTD: 25.95%
• 6M: 23.04%
• 1Y: 40.85%
• 3Y*: 32.12%
• 5Y*: 16.76%
• 10Y*: 20.42%

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

RFV vs. XMMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RFV Invesco S&P MidCap 400® Pure Value ETF	12.44%	7.66%	5.63%	30.26%	-3.99%	33.02%	9.61%	24.98%	-18.56%	14.74%
XMMO Invesco S&P MidCap Momentum ETF	25.95%	13.04%	38.03%	20.39%	-16.02%	16.69%	29.17%	36.78%	6.12%	37.18%

Correlation

The correlation between RFV and XMMO is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.71
Correlation (All Time) Calculated using the full available price history since Mar 7, 2006	0.74

The correlation between RFV and XMMO shifts across timeframes, from 0.59 (1 year) to 0.80 (5 years), reflecting how their relationship changes across market environments.

RFV vs. XMMO - Sectors Allocation Comparison

Sectors	RFV	XMMO
Consumer Cyclical	25.5%	2.2%
Financial Services	17.4%	2.5%
Technology	14.2%	19.2%
Energy	12.1%	6.5%
Industrials	11.7%	41.5%
Basic Materials	7.6%	6.9%
Consumer Defensive	7.4%	2.7%
Real Estate	3.5%	5.4%
Healthcare	0.6%	6.3%
Communication Services	-	1.3%
Utilities	-	5.6%

Return for Risk

RFV vs. XMMO — Risk / Return Rank

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

RFV

RFV Risk / Return Rank: 36
RFV Sharpe Ratio Rank: 36
RFV Sortino Ratio Rank: 38
RFV Omega Ratio Rank: 34
RFV Calmar Ratio Rank: 37
RFV Martin Ratio Rank: 36

XMMO

XMMO Risk / Return Rank: 74
XMMO Sharpe Ratio Rank: 65
XMMO Sortino Ratio Rank: 63
XMMO Omega Ratio Rank: 62
XMMO Calmar Ratio Rank: 88
XMMO Martin Ratio Rank: 90

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.

RFV vs. XMMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P MidCap 400® Pure Value ETF (RFV) 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.

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.

	RFV	XMMO	Difference
Sharpe ratio: Return per unit of total volatility	1.24	2.08	-0.83
Sortino ratio: Return per unit of downside risk	1.92	2.83	-0.91
Omega ratio: Gain probability vs. loss probability	1.22	1.36	-0.14
Calmar ratio: Return relative to maximum drawdown	1.79	4.92	-3.13
Martin ratio: Return relative to average drawdown	5.27	19.55	-14.28

RFV vs. XMMO - Sharpe Ratio Comparison

The current RFV Sharpe Ratio is 1.24, which is lower than the XMMO Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of RFV and XMMO, 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

RFV vs. XMMO - Drawdown Comparison

The maximum RFV drawdown since its inception was -71.82%, which is greater than XMMO's maximum drawdown of -55.37%. Use the drawdown chart below to compare losses from any high point for RFV and XMMO.

Drawdown Indicators

	RFV	XMMO	Difference
Max Drawdown Largest peak-to-trough decline	-71.82%	-55.37%	-16.45%
Max Drawdown (1Y) Largest decline over 1 year	-12.51%	-8.34%	-4.17%
Max Drawdown (3Y) Largest decline over 3 years	-24.65%	-24.93%	+0.28%
Max Drawdown (5Y) Largest decline over 5 years	-24.65%	-27.91%	+3.26%
Max Drawdown (10Y) Largest decline over 10 years	-52.24%	-36.74%	-15.50%
Current Drawdown Current decline from peak	-2.61%	0.00%	-2.61%
Average Drawdown Average peak-to-trough decline	-9.77%	-9.43%	-0.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.24%	2.09%	+2.15%

Volatility

RFV vs. XMMO - Volatility Comparison

The current volatility for Invesco S&P MidCap 400® Pure Value ETF (RFV) is 4.26%, while Invesco S&P MidCap Momentum ETF (XMMO) has a volatility of 8.04%. This indicates that RFV 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.

Volatility by Period

	RFV	XMMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.26%	8.04%	-3.78%
Volatility (6M) Calculated over the trailing 6-month period	11.90%	16.60%	-4.70%
Volatility (1Y) Calculated over the trailing 1-year period	18.05%	19.82%	-1.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.98%	21.62%	+0.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.99%	22.35%	+2.64%

RFV vs. XMMO - Expense Ratio Comparison

Both RFV and XMMO have an expense ratio of 0.35%.

Dividends

RFV vs. XMMO - Dividend Comparison

RFV's dividend yield for the trailing twelve months is around 2.24%, more than XMMO's 0.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RFV Invesco S&P MidCap 400® Pure Value ETF	2.24%	2.07%	1.31%	1.27%	2.05%	1.60%	1.52%	1.71%	1.39%	1.36%	0.88%	1.79%
XMMO Invesco S&P MidCap Momentum ETF	0.74%	0.78%	0.34%	0.80%	1.43%	0.41%	0.61%	0.60%	0.19%	0.21%	0.22%	0.64%

Frequently Asked Questions

Can I hold both RFV and XMMO in my portfolio?

RFV and XMMO have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RFV or XMMO?

XMMO has higher volatility (8.04%) compared to RFV (4.26%). In terms of maximum drawdown, RFV dropped -71.82% vs XMMO's -55.37%.

Which ETF is better, RFV or XMMO?

On 10-year performance, XMMO leads with 20.42% vs 12.75% for RFV. Both ETFs have the same 0.35% expense ratio. On volatility, RFV has been the lower-risk option at 4.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RFV or XMMO?

Over the 10-year period, XMMO has performed better with a 20.42% return vs 12.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RFV or XMMO?

RFV and XMMO have the same expense ratio: 0.35% per year.

Which ETF pays a higher dividend yield, RFV or XMMO?

RFV has the higher dividend yield at 2.24%, compared with 0.74% for XMMO.

What is the main difference between RFV and XMMO?

RFV is categorized as Small Cap Value Equities, while XMMO is Momentum. RFV tracks S&P Mid Cap 400 Pure Value, while XMMO tracks S&P MidCap 400 Momentum Index.

Which has better risk-adjusted returns?

XMMO currently has the higher Sharpe Ratio (2.08 vs 1.24), 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.