TCV vs. XSVM

Last updated Jul 10, 2026

TCV (Towle Value ETF) and XSVM (Invesco S&P SmallCap Value with Momentum ETF) are both exchange-traded funds - TCV is a Small Cap Value Equities fund actively managed by Towle, while XSVM is a Momentum fund tracking the S&P SmallCap 600 High Momentum Value Index. TCV is actively managed, while XSVM is passively managed. A 0.79 correlation means they provide meaningful diversification when combined. TCV charges 0.85%/yr vs 0.37%/yr for XSVM.

Performance

TCV vs. XSVM - Performance Comparison

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

Returns By Period

In the year-to-date period, TCV achieves a 24.97% return, which is significantly higher than XSVM's 22.71% return.

TCV

• 1D: 0.94%
• 1M: 2.06%
• 6M: 16.12%
• YTD: 24.97%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

XSVM

• 1D: 1.24%
• 1M: 3.33%
• 6M: 17.39%
• YTD: 22.71%
• 1Y: 31.40%
• 3Y*: 16.19%
• 5Y*: 8.72%
• 10Y*: 13.04%

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

TCV vs. XSVM - Yearly Performance Comparison

	2026 (YTD)	2025
TCV Towle Value ETF	24.97%	2.99%
XSVM Invesco S&P SmallCap Value with Momentum ETF	22.71%	8.67%

Correlation

The correlation between TCV and XSVM is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 17, 2025	0.79

Return for Risk

TCV vs. XSVM — Risk / Return Rank

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

TCV

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

XSVM

XSVM Risk / Return Rank: 70
XSVM Sharpe Ratio Rank: 68
XSVM Sortino Ratio Rank: 71
XSVM Omega Ratio Rank: 65
XSVM Calmar Ratio Rank: 77
XSVM Martin Ratio Rank: 67

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.

TCV vs. XSVM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Towle Value ETF (TCV) 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.

	TCV	XSVM	Difference
Sharpe ratio: Return per unit of total volatility	—	1.73	—
Sortino ratio: Return per unit of downside risk	—	2.54	—
Omega ratio: Gain probability vs. loss probability	—	1.31	—
Calmar ratio: Return relative to maximum drawdown	—	3.13	—
Martin ratio: Return relative to average drawdown	—	9.66	—

Drawdowns

TCV vs. XSVM - Drawdown Comparison

The maximum TCV drawdown since its inception was -12.23%, smaller than the maximum XSVM drawdown of -62.57%. Use the drawdown chart below to compare losses from any high point for TCV and XSVM.

Drawdown Indicators

	TCV	XSVM	Difference
Max Drawdown Largest peak-to-trough decline	-12.23%	-62.57%	+50.34%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.08%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-26.21%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.21%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-49.02%	—
Current Drawdown Current decline from peak	-0.69%	-1.42%	+0.73%
Average Drawdown Average peak-to-trough decline	-3.35%	-11.52%	+8.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.26%	—

Volatility

Volatility by Period

	TCV	XSVM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.39%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.40%	—
Volatility (1Y) Calculated over the trailing 1-year period	21.26%	18.24%	+3.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.26%	22.48%	-1.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.26%	25.00%	-3.74%

TCV vs. XSVM - Expense Ratio Comparison

TCV has a 0.85% expense ratio, which is higher than XSVM's 0.37% expense ratio.

Dividends

TCV vs. XSVM - Dividend Comparison

TCV's dividend yield for the trailing twelve months is around 0.58%, less than XSVM's 1.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TCV Towle Value ETF	0.58%	0.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XSVM Invesco S&P SmallCap Value with Momentum ETF	1.79%	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

Can I hold both TCV and XSVM in my portfolio?

TCV and XSVM have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TCV or XSVM?

On fees, XSVM is cheaper at 0.37% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TCV or XSVM?

XSVM is cheaper with a 0.37% expense ratio, compared with 0.85% for TCV.

Which ETF pays a higher dividend yield, TCV or XSVM?

XSVM has the higher dividend yield at 1.79%, compared with 0.58% for TCV.

What is the main difference between TCV and XSVM?

TCV is categorized as Small Cap Value Equities, while XSVM is Momentum. They also come from different issuers: Towle and Invesco. Their fees differ too: 0.85% for TCV and 0.37% for XSVM.