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SPVM vs. XSVM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPVM vs. XSVM

Last updated Aug 2, 2026
Documentation

SPVM (Invesco S&P 500 Value with Momentum ETF) and XSVM (Invesco S&P SmallCap Value with Momentum ETF) are both Momentum funds from Invesco - SPVM tracks the S&P 500 High Momentum Value Index while XSVM tracks the S&P SmallCap 600 High Momentum Value Index. Both are passively managed. Over the past 10 years, SPVM returned 12.30%/yr vs 13.34%/yr for XSVM. Their 0.76 correlation means they have sometimes moved together and sometimes differently. SPVM charges 0.39%/yr vs 0.37%/yr for XSVM.

Performance

SPVM vs. XSVM - 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 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, SPVM achieves a 15.18% return, which is significantly lower than XSVM's 25.81% return. Over the past 10 years, SPVM has underperformed XSVM with an annualized return of 12.30%, while XSVM has yielded a comparatively higher 13.34% annualized return.

SPVM

1D
-0.22%
1M
2.32%
6M
11.82%
YTD
15.18%
1Y
30.48%
3Y*
18.09%
5Y*
12.07%
10Y*
12.30%
ALL TIME*
12.00%

XSVM

1D
-0.35%
1M
2.37%
6M
17.50%
YTD
25.81%
1Y
41.62%
3Y*
14.54%
5Y*
9.57%
10Y*
13.34%
ALL TIME*
9.32%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

SPVM

Invesco S&P 500 Value with Momentum ETF
$1.04M$1.14M$1.20M

XSVM

Invesco S&P SmallCap Value with Momentum ETF
$2.60M$2.40M$2.07M

SPVM vs. XSVM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SPVM
Invesco S&P 500 Value with Momentum ETF		15.18%20.47%15.64%5.53%-2.10%28.86%-3.18%29.33%-9.17%14.70%
XSVM
Invesco S&P SmallCap Value with Momentum ETF		25.81%7.47%2.30%20.20%-13.63%56.36%5.08%30.01%-12.33%3.62%

Correlation

The correlation between SPVM and XSVM is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

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

0.78

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

0.83

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

0.85

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

0.81

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

0.76

The correlation between SPVM and XSVM has been stable across timeframes, ranging from 0.76 to 0.85 - a consistent structural relationship.

SPVM vs. XSVM - Sectors Allocation Comparison

Sectors
SPVM
XSVM

Financial Services

36.8%
45.1%

Utilities

13.4%
2.1%

Energy

11.8%
5.7%

Industrials

9.4%
5.3%

Healthcare

8.6%
1.7%

Technology

6.2%
2.6%

Consumer Defensive

4.7%
4.1%

Consumer Cyclical

3.7%
18.1%

Basic Materials

3.5%
3.0%

Communication Services

2.7%
2.6%

Real Estate

2.1%
9.7%

Financial Services

SPVM
36.8%
XSVM
45.1%

Utilities

SPVM
13.4%
XSVM
2.1%

Energy

SPVM
11.8%
XSVM
5.7%

Industrials

SPVM
9.4%
XSVM
5.3%

Healthcare

SPVM
8.6%
XSVM
1.7%

Technology

SPVM
6.2%
XSVM
2.6%

Consumer Defensive

SPVM
4.7%
XSVM
4.1%

Consumer Cyclical

SPVM
3.7%
XSVM
18.1%

Basic Materials

SPVM
3.5%
XSVM
3.0%

Communication Services

SPVM
2.7%
XSVM
2.6%

Real Estate

SPVM
2.1%
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 Value with Momentum ETF

Invesco S&P SmallCap Value with Momentum ETF

Often compared with SPVM:
SPVM vs. SPMOSPVM vs. SPYSPVM vs. SCHDSPVM vs. VOOSPVM vs. MTUMSPVM vs. FMTMSPVM vs. VTV
Often compared with XSVM:
XSVM vs. XSMOXSVM vs. AVUVXSVM vs. RWJXSVM vs. XSHQXSVM vs. SPHBXSVM vs. DGRSXSVM vs. RYPRX

Return for Risk

SPVM vs. XSVM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
SPVM
SPVM Risk / Return Rank: 9393
Overall Rank
SPVM Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
SPVM Sortino Ratio Rank: 9494
Sortino Ratio Rank
SPVM Omega Ratio Rank: 9292
Omega Ratio Rank
SPVM Calmar Ratio Rank: 9393
Calmar Ratio Rank
SPVM Martin Ratio Rank: 9393
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: 8787
Omega Ratio Rank
XSVM Calmar Ratio Rank: 9191
Calmar Ratio Rank
XSVM Martin Ratio Rank: 8787
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.

SPVM vs. XSVM - 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 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.

SPVMXSVMDifference
Sharpe ratioReturn per unit of total volatility
2.58
2.21

+0.37

Sortino ratioReturn per unit of downside risk
3.73
3.22

+0.51

Omega ratioGain probability vs. loss probability

1.45

1.39

+0.06

Calmar ratioReturn relative to maximum drawdown

4.47

3.91

+0.55

Martin ratioReturn relative to average drawdown

17.23

12.49

+4.73

SPVM vs. XSVM - Sharpe Ratio Comparison

The current SPVM Sharpe Ratio is 2.58, which is comparable to the XSVM Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of SPVM 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

SPVM vs. XSVM - Drawdown Comparison

The maximum SPVM drawdown since its inception was -45.35%, smaller than the maximum XSVM drawdown of -62.57%. Use the drawdown chart below to compare losses from any high point for SPVM and XSVM.

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Drawdown Indicators

SPVMXSVMDifference

Max Drawdown

Largest peak-to-trough decline

-45.35%

-62.57%

+17.22%

Max Drawdown (1Y)

Largest decline over 1 year

-6.57%

-10.08%

+3.51%

Max Drawdown (3Y)

Largest decline over 3 years

-18.66%

-26.21%

+7.55%

Max Drawdown (5Y)

Largest decline over 5 years

-19.48%

-26.21%

+6.73%

Max Drawdown (10Y)

Largest decline over 10 years

-45.35%

-49.02%

+3.67%

Current Drawdown

Current decline from peak

-1.34%

-1.45%

+0.11%

Average Drawdown

Average peak-to-trough decline

-4.94%

-11.48%

+6.54%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.70%

3.15%

-1.45%

Volatility

SPVM vs. XSVM - Volatility Comparison

The current volatility for Invesco S&P 500 Value with Momentum ETF (SPVM) is 3.18%, while Invesco S&P SmallCap Value with Momentum ETF (XSVM) has a volatility of 4.18%. This indicates that SPVM experiences smaller price fluctuations and is considered to be less risky 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

SPVMXSVMDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.18%

4.18%

-1.00%

Volatility (6M)

Calculated over the trailing 6-month period

7.72%

11.73%

-4.01%

Volatility (1Y)

Calculated over the trailing 1-year period

11.40%

17.89%

-6.49%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.57%

22.33%

-5.76%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.51%

25.00%

-5.49%

SPVM vs. XSVM - Expense Ratio Comparison

SPVM has a 0.39% expense ratio, which is higher than XSVM's 0.37% expense ratio.

Dividends

SPVM vs. XSVM - Dividend Comparison

SPVM's dividend yield for the trailing twelve months is around 1.92%, more than XSVM's 1.75% yield.

PositionTTM20252024202320222021202020192018201720162015
SPVM
Invesco S&P 500 Value with Momentum ETF		1.92%2.02%1.91%2.45%2.33%1.41%2.11%2.40%3.10%1.68%2.80%2.67%
XSVM
Invesco S&P SmallCap Value with Momentum ETF		1.75%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

SPVM and XSVM have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

XSVM has higher volatility (4.18%) compared to SPVM (3.18%). In terms of maximum drawdown, SPVM dropped -45.35% vs XSVM's -62.57%.

On 10-year performance, XSVM leads with 13.34% vs 12.30% for SPVM. On fees, XSVM is cheaper at 0.37% per year. On volatility, SPVM has been the lower-risk option at 3.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, XSVM has performed better with a 13.34% return vs 12.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

XSVM is cheaper with a 0.37% expense ratio, compared with 0.39% for SPVM.

SPVM has the higher dividend yield at 1.92%, compared with 1.75% for XSVM.

SPVM tracks S&P 500 High Momentum Value Index, while XSVM tracks S&P SmallCap 600 High Momentum Value Index. Their fees differ too: 0.39% for SPVM and 0.37% for XSVM.

SPVM currently has the higher Sharpe Ratio (2.58 vs 2.21), 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 SPVM and XSVM

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