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SPMO vs. XSVM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPMO vs. XSVM

Last updated Aug 5, 2026
Documentation

SPMO (Invesco S&P 500 Momentum ETF) and XSVM (Invesco S&P SmallCap Value with Momentum ETF) are both Momentum funds from Invesco - SPMO tracks the S&P 500 Momentum Index while XSVM tracks the S&P SmallCap 600 High Momentum Value Index. Both are passively managed. Over the past 10 years, SPMO returned 20.17%/yr vs 13.14%/yr for XSVM. Their 0.45 correlation means their historical movements had little consistent relationship. SPMO charges 0.13%/yr vs 0.37%/yr for XSVM.

Performance

SPMO vs. XSVM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Momentum ETF (SPMO) 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

The year-to-date returns for both investments are quite close, with SPMO having a 27.25% return and XSVM slightly higher at 28.49%. Over the past 10 years, SPMO has outperformed XSVM with an annualized return of 20.17%, while XSVM has yielded a comparatively lower 13.14% annualized return.

SPMO

1D
4.00%
1M
0.23%
6M
27.03%
YTD
27.25%
1Y
32.27%
3Y*
39.98%
5Y*
20.99%
10Y*
20.17%
ALL TIME*
19.45%

XSVM

1D
0.93%
1M
4.56%
6M
17.55%
YTD
28.49%
1Y
42.75%
3Y*
15.44%
5Y*
10.07%
10Y*
13.14%
ALL TIME*
9.42%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

SPMO

Invesco S&P 500 Momentum ETF
$336.43M$343.89M$352.54M

XSVM

Invesco S&P SmallCap Value with Momentum ETF
$2.76M$2.38M$2.10M

SPMO vs. XSVM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SPMO
Invesco S&P 500 Momentum ETF		27.25%26.58%45.82%17.56%-10.45%22.64%28.25%25.93%-0.92%27.76%
XSVM
Invesco S&P SmallCap Value with Momentum ETF		28.49%7.47%2.30%20.20%-13.63%56.36%5.08%30.01%-12.33%3.62%

Correlation

The correlation between SPMO and XSVM is 0.35, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.35

Correlation (3Y)
Balances recent behavior with more history.

0.46

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.57

Correlation (10Y)
Provides a long-term view across more market conditions.

0.47

Correlation (All Time)
Calculated using the full available price history since Oct 12, 2015

0.45

The correlation between SPMO and XSVM shifts across timeframes, from 0.35 (1 year) to 0.57 (5 years), reflecting how their relationship changes across market environments.

SPMO vs. XSVM - Sectors Allocation Comparison

Sectors
SPMO
XSVM

Technology

53.7%
2.6%

Industrials

11.2%
5.3%

Communication Services

7.4%
2.6%

Healthcare

6.9%
1.7%

Financial Services

6.0%
45.1%

Consumer Defensive

4.2%
4.1%

Energy

3.3%
5.7%

Utilities

2.7%
2.1%

Basic Materials

1.9%
3.0%

Consumer Cyclical

1.2%
18.1%

Real Estate

1.1%
9.7%

Technology

SPMO
53.7%
XSVM
2.6%

Industrials

SPMO
11.2%
XSVM
5.3%

Communication Services

SPMO
7.4%
XSVM
2.6%

Healthcare

SPMO
6.9%
XSVM
1.7%

Financial Services

SPMO
6.0%
XSVM
45.1%

Consumer Defensive

SPMO
4.2%
XSVM
4.1%

Energy

SPMO
3.3%
XSVM
5.7%

Utilities

SPMO
2.7%
XSVM
2.1%

Basic Materials

SPMO
1.9%
XSVM
3.0%

Consumer Cyclical

SPMO
1.2%
XSVM
18.1%

Real Estate

SPMO
1.1%
XSVM
9.7%

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 Momentum ETF

Invesco S&P SmallCap Value with Momentum ETF

Often compared with SPMO:
SPMO vs. VOOSPMO vs. QQQSPMO vs. SCHGSPMO vs. MTUMSPMO vs. VUGSPMO vs. VFMOSPMO vs. XMMO
Often compared with XSVM:
XSVM vs. XSMOXSVM vs. AVUVXSVM vs. RWJXSVM vs. XSHQXSVM vs. SPHBXSVM vs. DGRSXSVM vs. RYPRX

Return for Risk

SPMO vs. XSVM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
SPMO
SPMO Risk / Return Rank: 5050
Overall Rank
SPMO Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
SPMO Sortino Ratio Rank: 4747
Sortino Ratio Rank
SPMO Omega Ratio Rank: 4949
Omega Ratio Rank
SPMO Calmar Ratio Rank: 5151
Calmar Ratio Rank
SPMO Martin Ratio Rank: 5656
Martin Ratio Rank
XSVM
XSVM Risk / Return Rank: 8989
Overall Rank
XSVM Sharpe Ratio Rank: 9090
Sharpe Ratio Rank
XSVM Sortino Ratio Rank: 9191
Sortino Ratio Rank
XSVM Omega Ratio Rank: 8888
Omega Ratio Rank
XSVM Calmar Ratio Rank: 9090
Calmar Ratio Rank
XSVM Martin Ratio Rank: 8686
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SPMO vs. XSVM - Risk-Adjusted Trends Comparison

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

SPMOXSVMDifference
Sharpe ratioReturn per unit of total volatility
1.35
2.42

-1.07

Sortino ratioReturn per unit of downside risk
1.91
3.49

-1.59

Omega ratioGain probability vs. loss probability

1.25

1.42

-0.17

Calmar ratioReturn relative to maximum drawdown

2.07

4.26

-2.19

Martin ratioReturn relative to average drawdown

7.44

13.61

-6.18

SPMO vs. XSVM - Sharpe Ratio Comparison

The current SPMO Sharpe Ratio is 1.35, which is lower than the XSVM Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of SPMO 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

SPMO vs. XSVM - Drawdown Comparison

The maximum SPMO drawdown since its inception was -30.95%, smaller than the maximum XSVM drawdown of -62.57%. Use the drawdown chart below to compare losses from any high point for SPMO and XSVM.

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Drawdown Indicators

SPMOXSVMDifference

Max Drawdown

Largest peak-to-trough decline

-30.95%

-62.57%

+31.62%

Max Drawdown (1Y)

Largest decline over 1 year

-15.64%

-10.08%

-5.56%

Max Drawdown (3Y)

Largest decline over 3 years

-20.13%

-26.21%

+6.08%

Max Drawdown (5Y)

Largest decline over 5 years

-22.74%

-26.21%

+3.47%

Max Drawdown (10Y)

Largest decline over 10 years

-30.95%

-49.02%

+18.07%

Current Drawdown

Current decline from peak

-6.49%

0.00%

-6.49%

Average Drawdown

Average peak-to-trough decline

-4.62%

-11.48%

+6.86%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.35%

3.15%

+1.20%

Volatility

SPMO vs. XSVM - Volatility Comparison

Invesco S&P 500 Momentum ETF (SPMO) has a higher volatility of 10.95% compared to Invesco S&P SmallCap Value with Momentum ETF (XSVM) at 4.32%. This indicates that SPMO'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

SPMOXSVMDifference

Volatility (1M)

Calculated over the trailing 1-month period

10.95%

4.32%

+6.63%

Volatility (6M)

Calculated over the trailing 6-month period

21.85%

11.73%

+10.12%

Volatility (1Y)

Calculated over the trailing 1-year period

24.13%

17.81%

+6.32%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.69%

22.32%

-1.63%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.97%

25.00%

-4.03%

SPMO vs. XSVM - Expense Ratio Comparison

SPMO has a 0.13% expense ratio, which is lower than XSVM's 0.37% expense ratio.

Dividends

SPMO vs. XSVM - Dividend Comparison

SPMO's dividend yield for the trailing twelve months is around 0.69%, less than XSVM's 1.71% yield.

PositionTTM20252024202320222021202020192018201720162015
SPMO
Invesco S&P 500 Momentum ETF		0.69%0.73%0.48%1.63%1.66%0.52%1.27%1.39%1.05%0.77%1.94%0.36%
XSVM
Invesco S&P SmallCap Value with Momentum ETF		1.71%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

SPMO and XSVM have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SPMO has higher volatility (10.95%) compared to XSVM (4.32%). In terms of maximum drawdown, SPMO dropped -30.95% vs XSVM's -62.57%.

On 10-year performance, SPMO leads with 20.17% vs 13.14% for XSVM. On fees, SPMO is cheaper at 0.13% per year. On volatility, XSVM has been the lower-risk option at 4.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SPMO has performed better with a 20.17% return vs 13.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SPMO is cheaper with a 0.13% expense ratio, compared with 0.37% for XSVM.

XSVM has the higher dividend yield at 1.71%, compared with 0.69% for SPMO.

SPMO tracks S&P 500 Momentum Index, while XSVM tracks S&P SmallCap 600 High Momentum Value Index. Their fees differ too: 0.13% for SPMO and 0.37% for XSVM.

XSVM currently has the higher Sharpe Ratio (2.42 vs 1.35), 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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