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VBR vs. XSVM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VBR vs. XSVM

Last updated Jun 26, 2026

VBR (Vanguard Small-Cap Value ETF) and XSVM (Invesco S&P SmallCap Value with Momentum ETF) are both exchange-traded funds - VBR is a Small Cap Value Equities fund tracking the CRSP US Small Cap Value Index, while XSVM is a Momentum fund tracking the S&P SmallCap 600 High Momentum Value Index. Both are passively managed. Over the past 10 years, VBR returned 11.55%/yr vs 13.97%/yr for XSVM. Their correlation of 0.92 suggests significant overlap in exposure. VBR charges 0.05%/yr vs 0.37%/yr for XSVM.

Performance

VBR vs. XSVM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Small-Cap Value ETF (VBR) 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, VBR achieves a 15.13% return, which is significantly lower than XSVM's 23.23% return. Over the past 10 years, VBR has underperformed XSVM with an annualized return of 11.55%, while XSVM has yielded a comparatively higher 13.97% annualized return.

VBR

1D
0.81%
1M
3.04%
YTD
15.13%
6M
13.26%
1Y
28.31%
3Y*
17.12%
5Y*
8.78%
10Y*
11.55%

XSVM

1D
0.53%
1M
4.36%
YTD
23.23%
6M
20.59%
1Y
39.75%
3Y*
18.06%
5Y*
8.32%
10Y*
13.97%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VBR vs. XSVM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VBR
Vanguard Small-Cap Value ETF		15.13%9.09%12.40%16.00%-9.38%28.08%5.90%22.78%-12.28%11.81%
XSVM
Invesco S&P SmallCap Value with Momentum ETF		23.23%7.47%2.30%20.20%-13.63%56.36%5.08%30.01%-12.33%3.62%

Correlation

The correlation between VBR and XSVM is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.89

Correlation (3Y)
Calculated over the trailing 3-year period

0.92

Correlation (5Y)
Calculated over the trailing 5-year period

0.94

Correlation (10Y)
Calculated over the trailing 10-year period

0.91

Correlation (All Time)
Calculated using the full available price history since Mar 3, 2005

0.92

The correlation between VBR and XSVM has been stable across timeframes, ranging from 0.89 to 0.94 - a consistent structural relationship.

VBR vs. XSVM - Sectors Allocation Comparison

Sectors
VBR
XSVM

Financial Services

17.5%
38.7%

Industrials

17.4%
6.3%

Consumer Cyclical

12.5%
17.4%

Technology

12.1%
9.5%

Real Estate

10.5%
4.8%

Healthcare

8.3%
1.1%

Basic Materials

6.0%
2.0%

Utilities

4.6%
1.2%

Energy

4.3%
9.3%

Consumer Defensive

4.0%
6.9%

Communication Services

2.8%
2.8%

Financial Services

VBR
17.5%
XSVM
38.7%

Industrials

VBR
17.4%
XSVM
6.3%

Consumer Cyclical

VBR
12.5%
XSVM
17.4%

Technology

VBR
12.1%
XSVM
9.5%

Real Estate

VBR
10.5%
XSVM
4.8%

Healthcare

VBR
8.3%
XSVM
1.1%

Basic Materials

VBR
6.0%
XSVM
2.0%

Utilities

VBR
4.6%
XSVM
1.2%

Energy

VBR
4.3%
XSVM
9.3%

Consumer Defensive

VBR
4.0%
XSVM
6.9%

Communication Services

VBR
2.8%
XSVM
2.8%

Compare stocks, funds, or ETFs

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

Vanguard Small-Cap Value ETF

Invesco S&P SmallCap Value with Momentum ETF

Often compared with VBR:
VBR vs. AVUVVBR vs. VBVBR vs. VOOVBR vs. VBKVBR vs. VTIVBR vs. VIOVVBR vs. VSIAX
Often compared with XSVM:
XSVM vs. XSMOXSVM vs. AVUVXSVM vs. RWJXSVM vs. XSHQXSVM vs. SPHBXSVM vs. DGRSXSVM vs. RYPRX

Return for Risk

VBR vs. XSVM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VBR
VBR Risk / Return Rank: 6868
Overall Rank
VBR Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
VBR Sortino Ratio Rank: 7070
Sortino Ratio Rank
VBR Omega Ratio Rank: 6161
Omega Ratio Rank
VBR Calmar Ratio Rank: 7373
Calmar Ratio Rank
VBR Martin Ratio Rank: 7171
Martin Ratio Rank
XSVM
XSVM Risk / Return Rank: 7979
Overall Rank
XSVM Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
XSVM Sortino Ratio Rank: 8181
Sortino Ratio Rank
XSVM Omega Ratio Rank: 7575
Omega Ratio Rank
XSVM Calmar Ratio Rank: 8484
Calmar Ratio Rank
XSVM Martin Ratio Rank: 7575
Martin Ratio Rank
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.

VBR vs. XSVM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap Value ETF (VBR) 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.

VBRXSVMDifference
Sharpe ratioReturn per unit of total volatility
1.86
2.17

-0.31

Sortino ratioReturn per unit of downside risk
2.73
3.11

-0.38

Omega ratioGain probability vs. loss probability

1.32

1.38

-0.06

Calmar ratioReturn relative to maximum drawdown

3.21

3.96

-0.75

Martin ratioReturn relative to average drawdown

11.35

12.26

-0.91

VBR vs. XSVM - Sharpe Ratio Comparison

The current VBR Sharpe Ratio is 1.86, which is comparable to the XSVM Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of VBR 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

VBR vs. XSVM - Drawdown Comparison

The maximum VBR drawdown since its inception was -61.98%, roughly equal to the maximum XSVM drawdown of -62.57%. Use the drawdown chart below to compare losses from any high point for VBR and XSVM.

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Drawdown Indicators

VBRXSVMDifference

Max Drawdown

Largest peak-to-trough decline

-61.98%

-62.57%

+0.59%

Max Drawdown (1Y)

Largest decline over 1 year

-8.85%

-10.08%

+1.23%

Max Drawdown (3Y)

Largest decline over 3 years

-24.19%

-26.21%

+2.02%

Max Drawdown (5Y)

Largest decline over 5 years

-24.19%

-26.21%

+2.02%

Max Drawdown (10Y)

Largest decline over 10 years

-45.28%

-49.02%

+3.74%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-8.25%

-11.53%

+3.28%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.50%

3.25%

-0.75%

Volatility

VBR vs. XSVM - Volatility Comparison

The current volatility for Vanguard Small-Cap Value ETF (VBR) is 3.90%, while Invesco S&P SmallCap Value with Momentum ETF (XSVM) has a volatility of 4.64%. This indicates that VBR 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

VBRXSVMDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.90%

4.64%

-0.74%

Volatility (6M)

Calculated over the trailing 6-month period

10.69%

12.33%

-1.64%

Volatility (1Y)

Calculated over the trailing 1-year period

15.29%

18.43%

-3.14%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.73%

22.55%

-2.82%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.71%

25.06%

-3.35%

VBR vs. XSVM - Expense Ratio Comparison

VBR has a 0.05% expense ratio, which is lower than XSVM's 0.37% expense ratio.

Dividends

VBR vs. XSVM - Dividend Comparison

VBR's dividend yield for the trailing twelve months is around 1.71%, less than XSVM's 1.78% yield.

PositionTTM20252024202320222021202020192018201720162015
VBR
Vanguard Small-Cap Value ETF		1.71%1.95%1.98%2.12%2.03%1.75%1.68%2.06%2.35%1.79%1.77%1.99%
XSVM
Invesco S&P SmallCap Value with Momentum ETF		1.78%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

VBR 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 (4.64%) compared to VBR (3.90%). In terms of maximum drawdown, VBR dropped -61.98% vs XSVM's -62.57%.

On 10-year performance, XSVM leads with 13.97% vs 11.55% for VBR. On fees, VBR is cheaper at 0.05% per year. On volatility, VBR has been the lower-risk option at 3.90%. 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 13.97% return vs 11.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VBR is cheaper with a 0.05% expense ratio, compared with 0.37% for XSVM.

XSVM has the higher dividend yield at 1.78%, compared with 1.71% for VBR.

VBR is categorized as Small Cap Value Equities, while XSVM is Momentum. VBR tracks CRSP US Small Cap Value Index, while XSVM tracks S&P SmallCap 600 High Momentum Value Index. They also come from different issuers: Vanguard and Invesco. Their fees differ too: 0.05% for VBR and 0.37% for XSVM.

XSVM currently has the higher Sharpe Ratio (2.17 vs 1.86), 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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