VWELX vs. XSMO

Last updated Jun 9, 2026

VWELX (Vanguard Wellington Fund Investor Shares) and XSMO (Invesco S&P SmallCap Momentum ETF) are both funds - VWELX is a Diversified Portfolio fund actively managed by Vanguard, while XSMO is a Momentum fund tracking the S&P SmallCap 600 Momentum Index. VWELX is actively managed, while XSMO is passively managed. Over the past 10 years, VWELX returned 9.87%/yr vs 14.34%/yr for XSMO. A 0.74 correlation means they provide meaningful diversification when combined. VWELX charges 0.24%/yr vs 0.36%/yr for XSMO.

Performance

VWELX vs. XSMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Wellington Fund Investor Shares (VWELX) and Invesco S&P SmallCap Momentum ETF (XSMO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VWELX achieves a 4.55% return, which is significantly lower than XSMO's 20.54% return. Over the past 10 years, VWELX has underperformed XSMO with an annualized return of 9.87%, while XSMO has yielded a comparatively higher 14.34% annualized return.

VWELX

• 1D: -2.02%
• 1M: -0.51%
• YTD: 4.55%
• 6M: 4.96%
• 1Y: 17.46%
• 3Y*: 14.67%
• 5Y*: 8.31%
• 10Y*: 9.87%

XSMO

• 1D: 0.66%
• 1M: -0.62%
• YTD: 20.54%
• 6M: 18.72%
• 1Y: 30.63%
• 3Y*: 23.23%
• 5Y*: 10.21%
• 10Y*: 14.34%

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

VWELX vs. XSMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VWELX Vanguard Wellington Fund Investor Shares	4.55%	16.54%	14.73%	14.29%	-14.36%	18.99%	10.57%	22.51%	-3.43%	13.98%
XSMO Invesco S&P SmallCap Momentum ETF	20.54%	9.80%	17.45%	21.55%	-15.44%	19.24%	21.96%	28.65%	-3.44%	23.95%

Correlation

The correlation between VWELX and XSMO is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (10Y) Calculated over the trailing 10-year period	0.71
Correlation (All Time) Calculated using the full available price history since Mar 4, 2005	0.74

The correlation between VWELX and XSMO has been stable across timeframes, ranging from 0.70 to 0.74 - a consistent structural relationship.

VWELX vs. XSMO - Sectors Allocation Comparison

Sectors	VWELX	XSMO
Technology	31.8%	20.9%
Communication Services	12.3%	4.1%
Consumer Cyclical	10.9%	9.0%
Financial Services	10.6%	12.3%
Healthcare	9.8%	13.9%
Industrials	8.5%	19.5%
Consumer Defensive	4.4%	2.4%
Energy	4.4%	3.1%
Real Estate	2.6%	5.0%
Utilities	2.5%	4.0%
Basic Materials	2.1%	5.8%

Return for Risk

VWELX vs. XSMO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VWELX

VWELX Risk / Return Rank: 55
VWELX Sharpe Ratio Rank: 54
VWELX Sortino Ratio Rank: 50
VWELX Omega Ratio Rank: 54
VWELX Calmar Ratio Rank: 52
VWELX Martin Ratio Rank: 65

XSMO

XSMO Risk / Return Rank: 60
XSMO Sharpe Ratio Rank: 53
XSMO Sortino Ratio Rank: 54
XSMO Omega Ratio Rank: 49
XSMO Calmar Ratio Rank: 75
XSMO Martin Ratio Rank: 70

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.

VWELX vs. XSMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Wellington Fund Investor Shares (VWELX) and Invesco S&P SmallCap Momentum ETF (XSMO). 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.

	VWELX	XSMO	Difference
Sharpe ratio: Return per unit of total volatility	2.09	1.62	+0.47
Sortino ratio: Return per unit of downside risk	2.89	2.34	+0.54
Omega ratio: Gain probability vs. loss probability	1.39	1.28	+0.11
Calmar ratio: Return relative to maximum drawdown	2.67	3.46	-0.79
Martin ratio: Return relative to average drawdown	12.31	11.75	+0.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VWELX vs. XSMO - Sharpe Ratio Comparison

The current VWELX Sharpe Ratio is 2.09, which is comparable to the XSMO Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of VWELX and XSMO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VWELX	XSMO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.09	1.62	+0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	0.45	+0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.86	0.60	+0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.84	0.39	+0.45

Drawdowns

VWELX vs. XSMO - Drawdown Comparison

The maximum VWELX drawdown since its inception was -36.12%, smaller than the maximum XSMO drawdown of -58.06%. Use the drawdown chart below to compare losses from any high point for VWELX and XSMO.

Drawdown Indicators

	VWELX	XSMO	Difference
Max Drawdown Largest peak-to-trough decline	-36.12%	-58.06%	+21.94%
Max Drawdown (1Y) Largest decline over 1 year	-6.78%	-8.89%	+2.11%
Max Drawdown (3Y) Largest decline over 3 years	-11.98%	-24.76%	+12.78%
Max Drawdown (5Y) Largest decline over 5 years	-20.88%	-29.62%	+8.74%
Max Drawdown (10Y) Largest decline over 10 years	-25.33%	-39.39%	+14.06%
Current Drawdown Current decline from peak	-2.39%	-2.86%	+0.47%
Average Drawdown Average peak-to-trough decline	-3.92%	-11.13%	+7.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.47%	2.61%	-1.14%

Volatility

VWELX vs. XSMO - Volatility Comparison

The current volatility for Vanguard Wellington Fund Investor Shares (VWELX) is 3.12%, while Invesco S&P SmallCap Momentum ETF (XSMO) has a volatility of 6.73%. This indicates that VWELX experiences smaller price fluctuations and is considered to be less risky than XSMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VWELX	XSMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.12%	6.73%	-3.61%
Volatility (6M) Calculated over the trailing 6-month period	7.00%	14.49%	-7.49%
Volatility (1Y) Calculated over the trailing 1-year period	8.67%	19.01%	-10.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.17%	22.68%	-11.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.55%	24.14%	-12.59%

VWELX vs. XSMO - Expense Ratio Comparison

VWELX has a 0.24% expense ratio, which is lower than XSMO's 0.36% expense ratio.

Dividends

VWELX vs. XSMO - Dividend Comparison

VWELX's dividend yield for the trailing twelve months is around 11.02%, more than XSMO's 0.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VWELX Vanguard Wellington Fund Investor Shares	11.02%	11.46%	10.76%	6.01%	8.19%	8.64%	7.77%	4.67%	9.49%	5.82%	4.44%	7.03%
XSMO Invesco S&P SmallCap Momentum ETF	0.54%	0.75%	0.63%	0.96%	1.19%	0.30%	0.82%	0.69%	0.66%	0.27%	0.30%	0.35%

Frequently Asked Questions

Can I hold both VWELX and XSMO in my portfolio?

VWELX and XSMO have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VWELX or XSMO?

XSMO has higher volatility (6.73%) compared to VWELX (3.12%). In terms of maximum drawdown, VWELX dropped -36.12% vs XSMO's -58.06%.

Which has better risk-adjusted returns?

VWELX currently has the higher Sharpe Ratio (2.09 vs 1.62), 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.