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USVM vs. XSVM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

USVM vs. XSVM

Last updated Aug 2, 2026
Documentation

USVM (VictoryShares US Small Mid Cap Value Momentum ETF) and XSVM (Invesco S&P SmallCap Value with Momentum ETF) are both Momentum funds - USVM tracks the Nasdaq Victory US Small Mid Cap Value Momentum Index while XSVM tracks the S&P SmallCap 600 High Momentum Value Index. Both are passively managed. Over the past 5 years, USVM returned 11.10%/yr vs 9.57%/yr for XSVM. Their correlation of 0.89 means they have usually moved in the same direction. USVM charges 0.29%/yr vs 0.37%/yr for XSVM.

Performance

USVM vs. XSVM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VictoryShares US Small Mid Cap Value Momentum ETF (USVM) 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, USVM achieves a 21.09% return, which is significantly lower than XSVM's 25.81% return.

USVM

1D
-0.42%
1M
0.81%
6M
15.17%
YTD
21.09%
1Y
35.70%
3Y*
18.46%
5Y*
11.10%
10Y*
—
ALL TIME*
11.10%

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)

USVM

VictoryShares US Small Mid Cap Value Momentum ETF
$4.40M$4.64M$4.70M

XSVM

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

USVM vs. XSVM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
USVM
VictoryShares US Small Mid Cap Value Momentum ETF		21.09%10.56%16.59%18.90%-13.23%24.44%11.56%21.65%-9.39%2.06%
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%4.07%

Correlation

The correlation between USVM and XSVM is 0.89, meaning they have usually moved in the same direction, including during past declines.

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

0.89

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

0.91

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

0.92

Correlation (All Time)
Calculated using the full available price history since Oct 26, 2017

0.89

The correlation between USVM and XSVM has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.

USVM vs. XSVM - Sectors Allocation Comparison

Sectors
USVM
XSVM

Financial Services

24.6%
45.1%

Healthcare

12.6%
1.7%

Consumer Cyclical

12.3%
18.1%

Industrials

10.8%
5.3%

Technology

9.6%
2.6%

Real Estate

9.4%
9.7%

Utilities

7.3%
2.1%

Energy

5.0%
5.7%

Consumer Defensive

3.6%
4.1%

Communication Services

3.0%
2.6%

Basic Materials

1.7%
3.0%

Financial Services

USVM
24.6%
XSVM
45.1%

Healthcare

USVM
12.6%
XSVM
1.7%

Consumer Cyclical

USVM
12.3%
XSVM
18.1%

Industrials

USVM
10.8%
XSVM
5.3%

Technology

USVM
9.6%
XSVM
2.6%

Real Estate

USVM
9.4%
XSVM
9.7%

Utilities

USVM
7.3%
XSVM
2.1%

Energy

USVM
5.0%
XSVM
5.7%

Consumer Defensive

USVM
3.6%
XSVM
4.1%

Communication Services

USVM
3.0%
XSVM
2.6%

Basic Materials

USVM
1.7%
XSVM
3.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

VictoryShares US Small Mid Cap Value Momentum ETF

Invesco S&P SmallCap Value with Momentum ETF

Often compared with USVM:
USVM vs. AVUVUSVM vs. VGIAXUSVM vs. XMMOUSVM vs. ZPRS.DEUSVM vs. LGLVUSVM vs. SCHGUSVM vs. ULVM
Often compared with XSVM:
XSVM vs. XSMOXSVM vs. AVUVXSVM vs. RWJXSVM vs. XSHQXSVM vs. SPHBXSVM vs. DGRSXSVM vs. RYPRX

Return for Risk

USVM vs. XSVM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
USVM
USVM Risk / Return Rank: 9191
Overall Rank
USVM Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
USVM Sortino Ratio Rank: 9292
Sortino Ratio Rank
USVM Omega Ratio Rank: 8989
Omega Ratio Rank
USVM Calmar Ratio Rank: 9191
Calmar Ratio Rank
USVM Martin Ratio Rank: 9292
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.

USVM vs. XSVM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VictoryShares US Small Mid Cap Value Momentum ETF (USVM) 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.

USVMXSVMDifference
Sharpe ratioReturn per unit of total volatility
2.32
2.21

+0.11

Sortino ratioReturn per unit of downside risk
3.38
3.22

+0.16

Omega ratioGain probability vs. loss probability

1.41

1.39

+0.02

Calmar ratioReturn relative to maximum drawdown

4.06

3.91

+0.15

Martin ratioReturn relative to average drawdown

15.72

12.49

+3.22

USVM vs. XSVM - Sharpe Ratio Comparison

The current USVM Sharpe Ratio is 2.32, which is comparable to the XSVM Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of USVM 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

USVM vs. XSVM - Drawdown Comparison

The maximum USVM drawdown since its inception was -42.38%, smaller than the maximum XSVM drawdown of -62.57%. Use the drawdown chart below to compare losses from any high point for USVM and XSVM.

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Drawdown Indicators

USVMXSVMDifference

Max Drawdown

Largest peak-to-trough decline

-42.38%

-62.57%

+20.19%

Max Drawdown (1Y)

Largest decline over 1 year

-8.36%

-10.08%

+1.72%

Max Drawdown (3Y)

Largest decline over 3 years

-24.34%

-26.21%

+1.87%

Max Drawdown (5Y)

Largest decline over 5 years

-25.27%

-26.21%

+0.94%

Max Drawdown (10Y)

Largest decline over 10 years

—

-49.02%

—

Current Drawdown

Current decline from peak

-1.11%

-1.45%

+0.34%

Average Drawdown

Average peak-to-trough decline

-7.76%

-11.48%

+3.72%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.15%

3.15%

-1.00%

Volatility

USVM vs. XSVM - Volatility Comparison

The current volatility for VictoryShares US Small Mid Cap Value Momentum ETF (USVM) is 2.91%, while Invesco S&P SmallCap Value with Momentum ETF (XSVM) has a volatility of 4.18%. This indicates that USVM 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

USVMXSVMDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.91%

4.18%

-1.27%

Volatility (6M)

Calculated over the trailing 6-month period

10.68%

11.73%

-1.05%

Volatility (1Y)

Calculated over the trailing 1-year period

14.64%

17.89%

-3.25%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.45%

22.33%

-2.88%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.86%

25.00%

-3.14%

USVM vs. XSVM - Expense Ratio Comparison

USVM has a 0.29% expense ratio, which is lower than XSVM's 0.37% expense ratio.

Dividends

USVM vs. XSVM - Dividend Comparison

USVM's dividend yield for the trailing twelve months is around 1.82%, more than XSVM's 1.75% yield.

PositionTTM20252024202320222021202020192018201720162015
USVM
VictoryShares US Small Mid Cap Value Momentum ETF		1.82%1.84%1.75%1.63%1.43%0.70%1.21%1.77%1.43%0.65%0.00%0.00%
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

USVM and XSVM have a correlation of 0.89, 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 USVM (2.91%). In terms of maximum drawdown, USVM dropped -42.38% vs XSVM's -62.57%.

On 5-year performance, USVM leads with 11.10% vs 9.57% for XSVM. On fees, USVM is cheaper at 0.29% per year. On volatility, USVM has been the lower-risk option at 2.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, USVM has performed better with a 11.10% return vs 9.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

USVM is cheaper with a 0.29% expense ratio, compared with 0.37% for XSVM.

USVM has the higher dividend yield at 1.82%, compared with 1.75% for XSVM.

USVM tracks Nasdaq Victory US Small Mid Cap Value Momentum Index, while XSVM tracks S&P SmallCap 600 High Momentum Value Index. They also come from different issuers: Victory and Invesco. Their fees differ too: 0.29% for USVM and 0.37% for XSVM.

USVM currently has the higher Sharpe Ratio (2.32 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.

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