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VIOV vs. XSVM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VIOV vs. XSVM

Last updated Jun 24, 2026

VIOV (Vanguard S&P Small-Cap 600 Value ETF) and XSVM (Invesco S&P SmallCap Value with Momentum ETF) are both exchange-traded funds - VIOV is a Small Cap Value Equities fund tracking the S&P SmallCap 600 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, VIOV returned 10.66%/yr vs 13.32%/yr for XSVM. Their correlation of 0.90 suggests significant overlap in exposure. VIOV charges 0.10%/yr vs 0.37%/yr for XSVM.

Performance

VIOV vs. XSVM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard S&P Small-Cap 600 Value ETF (VIOV) 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, VIOV achieves a 17.53% return, which is significantly lower than XSVM's 20.98% return. Over the past 10 years, VIOV has underperformed XSVM with an annualized return of 10.66%, while XSVM has yielded a comparatively higher 13.32% annualized return.

VIOV

1D
-0.26%
1M
2.94%
YTD
17.53%
6M
15.94%
1Y
37.82%
3Y*
15.57%
5Y*
6.32%
10Y*
10.66%

XSVM

1D
0.77%
1M
3.66%
YTD
20.98%
6M
18.82%
1Y
37.12%
3Y*
17.66%
5Y*
7.87%
10Y*
13.32%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VIOV vs. XSVM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VIOV
Vanguard S&P Small-Cap 600 Value ETF		17.53%6.63%7.44%15.36%-11.37%30.67%2.81%24.44%-12.85%11.54%
XSVM
Invesco S&P SmallCap Value with Momentum ETF		20.98%7.47%2.30%20.20%-13.63%56.36%5.08%30.01%-12.33%3.62%

Correlation

The correlation between VIOV and XSVM is 0.92, 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

0.92

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

0.94

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

0.95

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

0.93

Correlation (All Time)
Calculated using the full available price history since Sep 9, 2010

0.90

The correlation between VIOV and XSVM has been stable across timeframes, ranging from 0.90 to 0.95 - a consistent structural relationship.

VIOV vs. XSVM - Sectors Allocation Comparison

Sectors
VIOV
XSVM

Financial Services

19.5%
38.7%

Consumer Cyclical

15.4%
17.4%

Technology

13.5%
9.5%

Industrials

11.6%
6.3%

Real Estate

8.6%
4.8%

Healthcare

7.3%
1.1%

Energy

7.0%
9.3%

Basic Materials

6.7%
2.0%

Communication Services

4.4%
2.8%

Consumer Defensive

3.9%
6.9%

Utilities

2.1%
1.2%

Financial Services

VIOV
19.5%
XSVM
38.7%

Consumer Cyclical

VIOV
15.4%
XSVM
17.4%

Technology

VIOV
13.5%
XSVM
9.5%

Industrials

VIOV
11.6%
XSVM
6.3%

Real Estate

VIOV
8.6%
XSVM
4.8%

Healthcare

VIOV
7.3%
XSVM
1.1%

Energy

VIOV
7.0%
XSVM
9.3%

Basic Materials

VIOV
6.7%
XSVM
2.0%

Communication Services

VIOV
4.4%
XSVM
2.8%

Consumer Defensive

VIOV
3.9%
XSVM
6.9%

Utilities

VIOV
2.1%
XSVM
1.2%

Compare stocks, funds, or ETFs

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

Vanguard S&P Small-Cap 600 Value ETF

Invesco S&P SmallCap Value with Momentum ETF

Often compared with VIOV:
VIOV vs. AVUVVIOV vs. VBRVIOV vs. VIOOVIOV vs. VIOGVIOV vs. IJSVIOV vs. VSIAXVIOV vs. SLYV
Often compared with XSVM:
XSVM vs. XSMOXSVM vs. AVUVXSVM vs. RWJXSVM vs. XSHQXSVM vs. SPHBXSVM vs. DGRSXSVM vs. RYPRX

Return for Risk

VIOV vs. XSVM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VIOV
VIOV Risk / Return Rank: 6969
Overall Rank
VIOV Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
VIOV Sortino Ratio Rank: 6868
Sortino Ratio Rank
VIOV Omega Ratio Rank: 6060
Omega Ratio Rank
VIOV Calmar Ratio Rank: 8080
Calmar Ratio Rank
VIOV Martin Ratio Rank: 7474
Martin Ratio Rank
XSVM
XSVM Risk / Return Rank: 6767
Overall Rank
XSVM Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
XSVM Sortino Ratio Rank: 6767
Sortino Ratio Rank
XSVM Omega Ratio Rank: 6262
Omega Ratio Rank
XSVM Calmar Ratio Rank: 7676
Calmar Ratio Rank
XSVM Martin Ratio Rank: 6666
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.

VIOV vs. XSVM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Small-Cap 600 Value ETF (VIOV) 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.

VIOVXSVMDifference
Sharpe ratioReturn per unit of total volatility
2.06
2.03

+0.04

Sortino ratioReturn per unit of downside risk
2.96
2.93

+0.03

Omega ratioGain probability vs. loss probability

1.35

1.36

0.00

Calmar ratioReturn relative to maximum drawdown

4.07

3.70

+0.37

Martin ratioReturn relative to average drawdown

13.34

11.45

+1.90

VIOV vs. XSVM - Sharpe Ratio Comparison

The current VIOV Sharpe Ratio is 2.06, which is comparable to the XSVM Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of VIOV 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

VIOV vs. XSVM - Drawdown Comparison

The maximum VIOV drawdown since its inception was -47.36%, smaller than the maximum XSVM drawdown of -62.57%. Use the drawdown chart below to compare losses from any high point for VIOV and XSVM.

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Drawdown Indicators

VIOVXSVMDifference

Max Drawdown

Largest peak-to-trough decline

-47.36%

-62.57%

+15.21%

Max Drawdown (1Y)

Largest decline over 1 year

-9.33%

-10.08%

+0.75%

Max Drawdown (3Y)

Largest decline over 3 years

-28.44%

-26.21%

-2.23%

Max Drawdown (5Y)

Largest decline over 5 years

-28.44%

-26.21%

-2.23%

Max Drawdown (10Y)

Largest decline over 10 years

-47.36%

-49.02%

+1.66%

Current Drawdown

Current decline from peak

-1.58%

-0.73%

-0.85%

Average Drawdown

Average peak-to-trough decline

-7.36%

-11.54%

+4.18%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.84%

3.25%

-0.41%

Volatility

VIOV vs. XSVM - Volatility Comparison

Vanguard S&P Small-Cap 600 Value ETF (VIOV) and Invesco S&P SmallCap Value with Momentum ETF (XSVM) have volatilities of 4.75% and 4.63%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VIOVXSVMDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.75%

4.63%

+0.12%

Volatility (6M)

Calculated over the trailing 6-month period

11.82%

12.28%

-0.46%

Volatility (1Y)

Calculated over the trailing 1-year period

18.44%

18.54%

-0.10%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.90%

22.55%

-0.65%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.88%

25.07%

-1.19%

VIOV vs. XSVM - Expense Ratio Comparison

VIOV has a 0.10% expense ratio, which is lower than XSVM's 0.37% expense ratio.

Dividends

VIOV vs. XSVM - Dividend Comparison

VIOV's dividend yield for the trailing twelve months is around 1.56%, less than XSVM's 1.82% yield.

PositionTTM20252024202320222021202020192018201720162015
VIOV
Vanguard S&P Small-Cap 600 Value ETF		1.56%1.69%1.78%2.18%1.81%1.59%1.42%1.60%1.76%1.43%1.17%1.32%
XSVM
Invesco S&P SmallCap Value with Momentum ETF		1.82%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

With a correlation of 0.92, VIOV and XSVM move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

VIOV has higher volatility (4.75%) compared to XSVM (4.63%). In terms of maximum drawdown, VIOV dropped -47.36% vs XSVM's -62.57%.

On 10-year performance, XSVM leads with 13.32% vs 10.66% for VIOV. On fees, VIOV is cheaper at 0.10% per year. On volatility, XSVM has been the lower-risk option at 4.63%. 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 13.32% return vs 10.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VIOV is cheaper with a 0.10% expense ratio, compared with 0.37% for XSVM.

XSVM has the higher dividend yield at 1.82%, compared with 1.56% for VIOV.

VIOV is categorized as Small Cap Value Equities, while XSVM is Momentum. VIOV tracks S&P SmallCap 600 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: 0.10% for VIOV and 0.37% for XSVM.

VIOV currently has the higher Sharpe Ratio (2.06 vs 2.03), 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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