UEVM vs. XMVM

Last updated Aug 4, 2026

UEVM (VictoryShares Emerging Markets Value Momentum ETF) and XMVM (Invesco S&P MidCap Value with Momentum ETF) are both Momentum funds - UEVM tracks the Nasdaq Victory Emerging Market Value Momentum Index while XMVM tracks the S&P MidCap 400 High Momentum Value Index. Both are passively managed. Over the past 5 years, UEVM returned 8.36%/yr vs 12.87%/yr for XMVM. Their 0.51 correlation means they have sometimes moved together and sometimes differently. UEVM charges 0.45%/yr vs 0.39%/yr for XMVM.

Performance

UEVM vs. XMVM - Performance Comparison

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

Returns By Period

In the year-to-date period, UEVM achieves a 9.19% return, which is significantly lower than XMVM's 18.13% return.

UEVM

• 1D: -0.02%
• 1M: 4.45%
• 6M: 2.40%
• YTD: 9.19%
• 1Y: 18.69%
• 3Y*: 16.40%
• 5Y*: 8.36%
• 10Y*: —
• ALL TIME*: 5.82%

XMVM

• 1D: 0.59%
• 1M: 5.73%
• 6M: 13.53%
• YTD: 18.13%
• 1Y: 39.09%
• 3Y*: 18.08%
• 5Y*: 12.87%
• 10Y*: 12.28%
• ALL TIME*: 9.73%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
UEVM VictoryShares Emerging Markets Value Momentum ETF	$142.75K	$200.41K	$201.25K
XMVM Invesco S&P MidCap Value with Momentum ETF	$2.19M	$2.07M	$1.98M

UEVM vs. XMVM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UEVM VictoryShares Emerging Markets Value Momentum ETF	9.19%	22.74%	11.92%	17.41%	-14.60%	11.09%	3.77%	10.71%	-16.96%	3.04%
XMVM Invesco S&P MidCap Value with Momentum ETF	18.13%	18.46%	11.73%	16.31%	-8.21%	35.15%	5.68%	30.38%	-9.62%	3.63%

Correlation

The correlation between UEVM and XMVM is 0.31, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.31
Correlation (3Y) Balances recent behavior with more history.	0.41
Correlation (5Y) Shows whether the relationship held over a longer period.	0.49
Correlation (All Time) Calculated using the full available price history since Oct 26, 2017	0.51

The correlation between UEVM and XMVM shifts across timeframes, from 0.31 (1 year) to 0.51 (all time), reflecting how their relationship changes across market environments.

UEVM vs. XMVM - Sectors Allocation Comparison

Sectors	UEVM	XMVM
Financial Services	26.7%	37.9%
Consumer Cyclical	11.6%	14.8%
Consumer Defensive	10.1%	1.2%
Industrials	9.7%	11.7%
Healthcare	8.7%	2.5%
Technology	8.6%	5.1%
Basic Materials	7.4%	0.8%
Energy	5.9%	13.5%
Utilities	5.0%	8.5%
Real Estate	4.2%	4.9%
Communication Services	2.2%	0.9%

Return for Risk

UEVM vs. XMVM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

UEVM

UEVM Risk / Return Rank: 46
UEVM Sharpe Ratio Rank: 45
UEVM Sortino Ratio Rank: 43
UEVM Omega Ratio Rank: 44
UEVM Calmar Ratio Rank: 51
UEVM Martin Ratio Rank: 47

XMVM

XMVM Risk / Return Rank: 92
XMVM Sharpe Ratio Rank: 94
XMVM Sortino Ratio Rank: 94
XMVM Omega Ratio Rank: 93
XMVM Calmar Ratio Rank: 92
XMVM Martin Ratio Rank: 88

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.

UEVM vs. XMVM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VictoryShares Emerging Markets Value Momentum ETF (UEVM) 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.

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.

	UEVM	XMVM	Difference
Sharpe ratio: Return per unit of total volatility	1.18	2.67	-1.49
Sortino ratio: Return per unit of downside risk	1.65	3.84	-2.19
Omega ratio: Gain probability vs. loss probability	1.22	1.48	-0.26
Calmar ratio: Return relative to maximum drawdown	1.92	4.28	-2.36
Martin ratio: Return relative to average drawdown	5.56	13.71	-8.15

UEVM vs. XMVM - Sharpe Ratio Comparison

The current UEVM Sharpe Ratio is 1.18, which is lower than the XMVM Sharpe Ratio of 2.67. The chart below compares the historical Sharpe Ratios of UEVM and XMVM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

UEVM vs. XMVM - Drawdown Comparison

The maximum UEVM drawdown since its inception was -45.44%, smaller than the maximum XMVM drawdown of -62.83%. Use the drawdown chart below to compare losses from any high point for UEVM and XMVM.

Drawdown Indicators

	UEVM	XMVM	Difference
Max Drawdown Largest peak-to-trough decline	-45.44%	-62.83%	+17.39%
Max Drawdown (1Y) Largest decline over 1 year	-9.79%	-9.18%	-0.61%
Max Drawdown (3Y) Largest decline over 3 years	-18.88%	-24.12%	+5.24%
Max Drawdown (5Y) Largest decline over 5 years	-26.55%	-24.12%	-2.43%
Max Drawdown (10Y) Largest decline over 10 years	—	-45.07%	—
Current Drawdown Current decline from peak	-2.00%	-0.12%	-1.88%
Average Drawdown Average peak-to-trough decline	-11.53%	-10.19%	-1.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.37%	2.86%	+0.51%

Volatility

UEVM vs. XMVM - Volatility Comparison

VictoryShares Emerging Markets Value Momentum ETF (UEVM) has a higher volatility of 4.13% compared to Invesco S&P MidCap Value with Momentum ETF (XMVM) at 3.30%. This indicates that UEVM's price experiences larger fluctuations and is considered to be riskier than XMVM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UEVM	XMVM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.13%	3.30%	+0.83%
Volatility (6M) Calculated over the trailing 6-month period	13.14%	9.25%	+3.89%
Volatility (1Y) Calculated over the trailing 1-year period	15.94%	14.72%	+1.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.04%	21.24%	-5.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.36%	22.74%	-4.38%

UEVM vs. XMVM - Expense Ratio Comparison

UEVM has a 0.45% expense ratio, which is higher than XMVM's 0.39% expense ratio.

Dividends

UEVM vs. XMVM - Dividend Comparison

UEVM's dividend yield for the trailing twelve months is around 2.66%, more than XMVM's 1.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UEVM VictoryShares Emerging Markets Value Momentum ETF	2.66%	4.02%	5.65%	4.71%	3.46%	4.49%	2.19%	2.79%	2.34%	0.79%	0.00%	0.00%
XMVM Invesco S&P MidCap Value with Momentum ETF	1.78%	2.07%	1.43%	1.57%	1.76%	1.10%	1.37%	1.73%	2.87%	2.22%	2.27%	2.58%

Frequently Asked Questions

Can I hold both UEVM and XMVM in my portfolio?

UEVM and XMVM have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UEVM or XMVM?

UEVM has higher volatility (4.13%) compared to XMVM (3.30%). In terms of maximum drawdown, UEVM dropped -45.44% vs XMVM's -62.83%.

Which ETF is better, UEVM or XMVM?

On 5-year performance, XMVM leads with 12.87% vs 8.36% for UEVM. On fees, XMVM is cheaper at 0.39% per year. On volatility, XMVM has been the lower-risk option at 3.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UEVM or XMVM?

Over the 5-year period, XMVM has performed better with a 12.87% return vs 8.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UEVM or XMVM?

XMVM is cheaper with a 0.39% expense ratio, compared with 0.45% for UEVM.

Which ETF pays a higher dividend yield, UEVM or XMVM?

UEVM has the higher dividend yield at 2.66%, compared with 1.78% for XMVM.

What is the main difference between UEVM and XMVM?

UEVM tracks Nasdaq Victory Emerging Market Value Momentum Index, while XMVM tracks S&P MidCap 400 High Momentum Value Index. They also come from different issuers: Victory and Invesco. Their fees differ too: 0.45% for UEVM and 0.39% for XMVM.

Which has better risk-adjusted returns?

XMVM currently has the higher Sharpe Ratio (2.67 vs 1.18), 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.