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SPVM vs. XMVM
Performance
Return for Risk
Dividends
Drawdowns
Volatility

SPVM vs. XMVM

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco S&P 500 Value with Momentum ETF (SPVM) and Invesco S&P MidCap Value with Momentum ETF (XMVM).

SPVM and XMVM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPVM is a passively managed fund by Invesco that tracks the performance of the S&P 500 High Momentum Value Index. It was launched on Jun 16, 2011. XMVM is a passively managed fund by Invesco that tracks the performance of the S&P MidCap 400 High Momentum Value Index. It was launched on Mar 3, 2005. Both SPVM and XMVM are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SPVM vs. XMVM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Value with Momentum ETF (SPVM) and Invesco S&P MidCap Value with Momentum ETF (XMVM). The values are adjusted to include any dividend payments, if applicable.

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SPVM vs. XMVM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SPVM
Invesco S&P 500 Value with Momentum ETF		2.19%20.47%15.64%5.53%-2.10%28.86%-3.18%29.33%-9.17%14.70%
XMVM
Invesco S&P MidCap Value with Momentum ETF		2.15%18.46%11.73%16.31%-8.21%35.15%5.68%30.38%-9.62%2.79%

Returns By Period

The year-to-date returns for both stocks are quite close, with SPVM having a 2.19% return and XMVM slightly lower at 2.15%. Both investments have delivered pretty close results over the past 10 years, with SPVM having a 11.59% annualized return and XMVM not far ahead at 11.62%.

SPVM

1D
1.49%
1M
-3.93%
YTD
2.19%
6M
5.84%
1Y
22.71%
3Y*
15.71%
5Y*
10.53%
10Y*
11.59%

XMVM

1D
1.48%
1M
-2.46%
YTD
2.15%
6M
6.81%
1Y
26.23%
3Y*
16.45%
5Y*
9.64%
10Y*
11.62%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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 Value with Momentum ETF

Invesco S&P MidCap Value with Momentum ETF

Often compared with SPVM:
SPVM vs. SPMOSPVM vs. SPYSPVM vs. SCHDSPVM vs. MTUMSPVM vs. VOOSPVM vs. VTVSPVM vs. RPV
Often compared with XMVM:
XMVM vs. MDYXMVM vs. AVUVXMVM vs. RFVXMVM vs. RWKXMVM vs. MDYGXMVM vs. SYLDXMVM vs. MDYV

SPVM vs. XMVM - Expense Ratio Comparison

Both SPVM and XMVM have an expense ratio of 0.39%.

SPVM
Invesco S&P 500 Value with Momentum ETF
XMVM
Invesco S&P MidCap Value with Momentum ETF

Return for Risk

SPVM vs. XMVM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPVM
SPVM Risk / Return Rank: 7878
Overall Rank
SPVM Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
SPVM Sortino Ratio Rank: 7878
Sortino Ratio Rank
SPVM Omega Ratio Rank: 7676
Omega Ratio Rank
SPVM Calmar Ratio Rank: 7777
Calmar Ratio Rank
SPVM Martin Ratio Rank: 8484
Martin Ratio Rank
XMVM
XMVM Risk / Return Rank: 7474
Overall Rank
XMVM Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
XMVM Sortino Ratio Rank: 7575
Sortino Ratio Rank
XMVM Omega Ratio Rank: 7272
Omega Ratio Rank
XMVM Calmar Ratio Rank: 7676
Calmar Ratio Rank
XMVM 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.

SPVM vs. XMVM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Value with Momentum ETF (SPVM) and Invesco S&P MidCap Value with Momentum ETF (XMVM). 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.

SPVMXMVMDifference

Sharpe ratio

Return per unit of total volatility

1.37

1.26

+0.11

Sortino ratio

Return per unit of downside risk

1.94

1.85

+0.09

Omega ratio

Gain probability vs. loss probability

1.28

1.26

+0.02

Calmar ratio

Return relative to maximum drawdown

1.95

1.96

-0.01

Martin ratio

Return relative to average drawdown

9.14

7.24

+1.90

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPVM vs. XMVM - Sharpe Ratio Comparison

The current SPVM Sharpe Ratio is 1.37, which is comparable to the XMVM Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of SPVM and XMVM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

SPVMXMVMDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.37

1.26

+0.11

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.63

0.44

+0.18

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.59

0.51

+0.08

Sharpe Ratio (All Time)

Calculated using the full available price history

0.61

0.42

+0.19

Correlation

The correlation between SPVM and XMVM is 0.83, 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.

Dividends

SPVM vs. XMVM - Dividend Comparison

SPVM's dividend yield for the trailing twelve months is around 2.03%, less than XMVM's 2.07% yield.

TTM20252024202320222021202020192018201720162015
SPVM
Invesco S&P 500 Value with Momentum ETF		2.03%2.02%1.91%2.45%2.33%1.41%2.11%2.40%3.10%1.68%2.80%2.67%
XMVM
Invesco S&P MidCap Value with Momentum ETF		2.07%2.07%1.43%1.57%1.76%1.10%1.37%1.73%2.87%2.22%2.27%2.58%

Drawdowns

SPVM vs. XMVM - Drawdown Comparison

The maximum SPVM drawdown since its inception was -45.35%, smaller than the maximum XMVM drawdown of -62.83%. Use the drawdown chart below to compare losses from any high point for SPVM and XMVM.

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Drawdown Indicators

SPVMXMVMDifference

Max Drawdown

Largest peak-to-trough decline

-45.35%

-62.83%

+17.48%

Max Drawdown (1Y)

Largest decline over 1 year

-12.37%

-13.61%

+1.24%

Max Drawdown (5Y)

Largest decline over 5 years

-19.48%

-24.12%

+4.64%

Max Drawdown (10Y)

Largest decline over 10 years

-45.35%

-45.07%

-0.28%

Current Drawdown

Current decline from peak

-4.34%

-6.32%

+1.98%

Average Drawdown

Average peak-to-trough decline

-5.03%

-10.34%

+5.31%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.64%

3.68%

-1.04%

Volatility

SPVM vs. XMVM - Volatility Comparison

The current volatility for Invesco S&P 500 Value with Momentum ETF (SPVM) is 3.55%, while Invesco S&P MidCap Value with Momentum ETF (XMVM) has a volatility of 4.49%. This indicates that SPVM experiences smaller price fluctuations and is considered to be less risky than XMVM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SPVMXMVMDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.55%

4.49%

-0.94%

Volatility (6M)

Calculated over the trailing 6-month period

8.53%

11.40%

-2.87%

Volatility (1Y)

Calculated over the trailing 1-year period

16.68%

20.97%

-4.29%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.85%

21.79%

-4.94%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.59%

22.81%

-3.22%