TCV vs. XSVM
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. Over the past year, TCV returned 33.14% vs 37.25% for XSVM. Their 0.77 correlation means they have sometimes moved together and sometimes differently. TCV charges 0.85%/yr vs 0.37%/yr for XSVM.
Performance
TCV vs. XSVM - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with TCV having a 27.04% return and XSVM slightly lower at 26.61%.
TCV
- 1D
- -1.38%
- 1M
- 1.82%
- 6M
- 15.50%
- YTD
- 27.04%
- 1Y
- 33.14%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 29.74%
XSVM
- 1D
- -0.83%
- 1M
- 2.87%
- 6M
- 20.07%
- YTD
- 26.61%
- 1Y
- 37.25%
- 3Y*
- 14.96%
- 5Y*
- 9.71%
- 10Y*
- 13.22%
- ALL TIME*
- 9.35%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $910.76K | $643.64K | $380.38K | |
| $3.02M | $2.38M | $2.05M |
TCV vs. XSVM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TCV Towle Value ETF | 27.04% | 2.99% |
XSVM Invesco S&P SmallCap Value with Momentum ETF | 26.61% | 8.67% |
Correlation
The correlation between TCV 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 (All Time) Calculated using the full available price history since Jul 17, 2025 | 0.77 |
The correlation between TCV and XSVM has been stable across timeframes, ranging from 0.77 to 0.78 - a consistent structural relationship.
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Return for Risk
TCV vs. XSVM — Risk / Return Rank
TCV
XSVM
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 ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.37 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.74 | 3.71 | -0.97 |
| Martin ratioReturn relative to average drawdown | 8.79 | 11.85 | -3.06 |
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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.
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Drawdown Indicators
| TCV | XSVM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.23% | -62.57% | +50.34% |
Max Drawdown (1Y)Largest decline over 1 year | -12.13% | -10.08% | -2.05% |
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 DrawdownCurrent decline from peak | -2.57% | -0.83% | -1.74% |
Average DrawdownAverage peak-to-trough decline | -3.23% | -11.49% | +8.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.90% | 3.17% | +0.73% |
Volatility
TCV vs. XSVM - Volatility Comparison
Towle Value ETF (TCV) has a higher volatility of 4.69% compared to Invesco S&P SmallCap Value with Momentum ETF (XSVM) at 4.16%. This indicates that TCV'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
| TCV | XSVM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.69% | 4.16% | +0.53% |
Volatility (6M)Calculated over the trailing 6-month period | 13.66% | 11.81% | +1.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.70% | 17.93% | +2.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.07% | 22.34% | -1.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.07% | 25.01% | -3.94% |
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 0.57%, less than XSVM's 1.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TCV Towle Value ETF | 0.57% | 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 | 1.74% | 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
TCV 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.
TCV has higher volatility (4.69%) compared to XSVM (4.16%). In terms of maximum drawdown, TCV dropped -12.23% vs XSVM's -62.57%.
On 1-year performance, XSVM leads with 37.25% vs 33.14% for TCV. On fees, XSVM is cheaper at 0.37% per year. On volatility, XSVM has been the lower-risk option at 4.16%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, XSVM has performed better with a 37.25% return vs 33.14%. 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 0.85% for TCV.
XSVM has the higher dividend yield at 1.74%, compared with 0.57% for TCV.
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.
XSVM currently has the higher Sharpe Ratio (2.09 vs 1.61), 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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