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SPGP vs. XSVM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPGP vs. XSVM

Last updated Jun 13, 2026

SPGP (Invesco S&P 500 GARP ETF) and XSVM (Invesco S&P SmallCap Value with Momentum ETF) are both exchange-traded funds - SPGP is a Multi-factor fund tracking the S&P 500 GARP Index, while XSVM is a Momentum fund tracking the S&P SmallCap 600 High Momentum Value Index. Both are passively managed. Over the past 10 years, SPGP returned 15.11%/yr vs 13.23%/yr for XSVM. A 0.69 correlation means they provide meaningful diversification when combined. SPGP charges 0.36%/yr vs 0.37%/yr for XSVM.

Performance

SPGP vs. XSVM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 GARP ETF (SPGP) 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, SPGP achieves a 6.06% return, which is significantly lower than XSVM's 21.88% return. Over the past 10 years, SPGP has outperformed XSVM with an annualized return of 15.11%, while XSVM has yielded a comparatively lower 13.23% annualized return.

SPGP

1D
0.84%
1M
2.86%
YTD
6.06%
6M
5.64%
1Y
16.85%
3Y*
11.97%
5Y*
7.97%
10Y*
15.11%

XSVM

1D
1.17%
1M
5.46%
YTD
21.88%
6M
18.48%
1Y
42.01%
3Y*
16.38%
5Y*
7.44%
10Y*
13.23%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SPGP vs. XSVM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SPGP
Invesco S&P 500 GARP ETF		6.06%9.80%8.48%20.29%-13.83%35.72%15.92%39.16%1.68%36.24%
XSVM
Invesco S&P SmallCap Value with Momentum ETF		21.88%7.47%2.30%20.20%-13.63%56.36%5.08%30.01%-12.33%3.62%

Correlation

The correlation between SPGP and XSVM is 0.75, 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

0.75

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

0.80

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

0.80

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

0.72

Correlation (All Time)
Calculated using the full available price history since Jun 16, 2011

0.69

The correlation between SPGP and XSVM shifts across timeframes, from 0.69 (all time) to 0.80 (3 years), reflecting how their relationship changes across market environments.

SPGP vs. XSVM - Sectors Allocation Comparison

Sectors
SPGP
XSVM

Technology

22.8%
7.8%

Financial Services

22.2%
38.8%

Consumer Cyclical

18.0%
17.0%

Industrials

16.8%
6.7%

Energy

7.1%
9.9%

Communication Services

6.6%
2.9%

Healthcare

3.8%
1.4%

Real Estate

2.7%
5.0%

Basic Materials

-

1.9%

Consumer Defensive

-

7.3%

Utilities

-

1.3%

Technology

SPGP
22.8%
XSVM
7.8%

Financial Services

SPGP
22.2%
XSVM
38.8%

Consumer Cyclical

SPGP
18.0%
XSVM
17.0%

Industrials

SPGP
16.8%
XSVM
6.7%

Energy

SPGP
7.1%
XSVM
9.9%

Communication Services

SPGP
6.6%
XSVM
2.9%

Healthcare

SPGP
3.8%
XSVM
1.4%

Real Estate

SPGP
2.7%
XSVM
5.0%

Basic Materials

SPGP

-

XSVM
1.9%

Consumer Defensive

SPGP

-

XSVM
7.3%

Utilities

SPGP

-

XSVM
1.3%

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 500 GARP ETF

Invesco S&P SmallCap Value with Momentum ETF

Often compared with SPGP:
SPGP vs. GARPSPGP vs. VOOSPGP vs. SPYSPGP vs. QQQSPGP vs. PAVESPGP vs. HACAXSPGP vs. SCHD
Often compared with XSVM:
XSVM vs. XSMOXSVM vs. AVUVXSVM vs. RWJXSVM vs. XSHQXSVM vs. SPHBXSVM vs. DGRSXSVM vs. RYPRX

Return for Risk

SPGP vs. XSVM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPGP
SPGP Risk / Return Rank: 3434
Overall Rank
SPGP Sharpe Ratio Rank: 3333
Sharpe Ratio Rank
SPGP Sortino Ratio Rank: 3333
Sortino Ratio Rank
SPGP Omega Ratio Rank: 3030
Omega Ratio Rank
SPGP Calmar Ratio Rank: 3333
Calmar Ratio Rank
SPGP Martin Ratio Rank: 3939
Martin Ratio Rank
XSVM
XSVM Risk / Return Rank: 7676
Overall Rank
XSVM Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
XSVM Sortino Ratio Rank: 7878
Sortino Ratio Rank
XSVM Omega Ratio Rank: 7272
Omega Ratio Rank
XSVM Calmar Ratio Rank: 8383
Calmar Ratio Rank
XSVM Martin Ratio Rank: 7373
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.

SPGP vs. XSVM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 GARP ETF (SPGP) 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.

SPGPXSVMDifference
Sharpe ratioReturn per unit of total volatility
1.04
2.09

-1.06

Sortino ratioReturn per unit of downside risk
1.57
3.00

-1.43

Omega ratioGain probability vs. loss probability

1.19

1.37

-0.18

Calmar ratioReturn relative to maximum drawdown

1.45

3.86

-2.41

Martin ratioReturn relative to average drawdown

5.54

11.98

-6.45

SPGP vs. XSVM - Sharpe Ratio Comparison

The current SPGP Sharpe Ratio is 1.04, which is lower than the XSVM Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of SPGP 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

SPGP vs. XSVM - Drawdown Comparison

The maximum SPGP drawdown since its inception was -42.08%, smaller than the maximum XSVM drawdown of -62.57%. Use the drawdown chart below to compare losses from any high point for SPGP and XSVM.

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Drawdown Indicators

SPGPXSVMDifference

Max Drawdown

Largest peak-to-trough decline

-42.08%

-62.57%

+20.49%

Max Drawdown (1Y)

Largest decline over 1 year

-11.15%

-10.08%

-1.07%

Max Drawdown (3Y)

Largest decline over 3 years

-22.87%

-26.21%

+3.34%

Max Drawdown (5Y)

Largest decline over 5 years

-22.87%

-26.21%

+3.34%

Max Drawdown (10Y)

Largest decline over 10 years

-42.08%

-49.02%

+6.94%

Current Drawdown

Current decline from peak

-1.05%

0.00%

-1.05%

Average Drawdown

Average peak-to-trough decline

-4.35%

-11.55%

+7.20%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.92%

3.26%

-0.34%

Volatility

SPGP vs. XSVM - Volatility Comparison

Invesco S&P 500 GARP ETF (SPGP) has a higher volatility of 5.43% compared to Invesco S&P SmallCap Value with Momentum ETF (XSVM) at 5.09%. This indicates that SPGP'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

SPGPXSVMDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.43%

5.09%

+0.34%

Volatility (6M)

Calculated over the trailing 6-month period

12.24%

12.03%

+0.21%

Volatility (1Y)

Calculated over the trailing 1-year period

15.63%

18.60%

-2.97%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.60%

22.61%

-4.01%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.23%

25.08%

-3.85%

SPGP vs. XSVM - Expense Ratio Comparison

SPGP has a 0.36% expense ratio, which is lower than XSVM's 0.37% expense ratio.

Dividends

SPGP vs. XSVM - Dividend Comparison

SPGP's dividend yield for the trailing twelve months is around 0.88%, less than XSVM's 1.74% yield.

PositionTTM20252024202320222021202020192018201720162015
SPGP
Invesco S&P 500 GARP ETF		0.88%1.04%1.38%1.24%1.22%0.69%1.10%0.86%0.95%0.68%0.89%1.12%
XSVM
Invesco S&P SmallCap Value with Momentum ETF		1.74%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

SPGP and XSVM have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SPGP has higher volatility (5.43%) compared to XSVM (5.09%). In terms of maximum drawdown, SPGP dropped -42.08% vs XSVM's -62.57%.

On 10-year performance, SPGP leads with 15.11% vs 13.23% for XSVM. On fees, SPGP is cheaper at 0.36% per year. On volatility, XSVM has been the lower-risk option at 5.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SPGP has performed better with a 15.11% return vs 13.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SPGP is cheaper with a 0.36% expense ratio, compared with 0.37% for XSVM.

XSVM has the higher dividend yield at 1.74%, compared with 0.88% for SPGP.

SPGP is categorized as Multi-factor, while XSVM is Momentum. SPGP tracks S&P 500 GARP Index, while XSVM tracks S&P SmallCap 600 High Momentum Value Index. Their fees differ too: 0.36% for SPGP and 0.37% for XSVM.

XSVM currently has the higher Sharpe Ratio (2.09 vs 1.04), 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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