XMC.TO vs. XSMO

Last updated Apr 1, 2026

Compare and contrast key facts about iShares S&P U.S. Mid-Cap Index ETF (XMC.TO) and Invesco S&P SmallCap Momentum ETF (XSMO).

XMC.TO and XSMO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XMC.TO is a passively managed fund by iShares that tracks the performance of the Morningstar US SMID TR CAD. It was launched on Aug 4, 2015. XSMO is a passively managed fund by Invesco that tracks the performance of the S&P SmallCap 600 Index. It was launched on Mar 3, 2005. Both XMC.TO and XSMO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

XMC.TO vs. XSMO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P U.S. Mid-Cap Index ETF (XMC.TO) and Invesco S&P SmallCap Momentum ETF (XSMO). The values are adjusted to include any dividend payments, if applicable.

XMC.TO vs. XSMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XMC.TO iShares S&P U.S. Mid-Cap Index ETF	3.74%	2.37%	22.99%	13.65%	-7.61%	23.39%	11.11%	20.87%	-4.83%	8.74%
XSMO Invesco S&P SmallCap Momentum ETF	7.17%	4.77%	27.54%	18.87%	-9.42%	18.16%	19.90%	22.33%	4.75%	16.06%

Different Trading Currencies

XMC.TO is traded in CAD, while XSMO is traded in USD. To make them comparable, the XSMO values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XMC.TO achieves a 3.74% return, which is significantly lower than XSMO's 7.17% return. Over the past 10 years, XMC.TO has underperformed XSMO with an annualized return of 10.87%, while XSMO has yielded a comparatively higher 14.35% annualized return.

XMC.TO

• 1D: 2.94%
• 1M: -3.51%
• YTD: 3.74%
• 6M: 4.18%
• 1Y: 12.98%
• 3Y*: 12.74%
• 5Y*: 8.44%
• 10Y*: 10.87%

XSMO

• 1D: 3.33%
• 1M: -2.71%
• YTD: 7.17%
• 6M: 3.56%
• 1Y: 17.87%
• 3Y*: 20.02%
• 5Y*: 10.68%
• 10Y*: 14.35%

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

XMC.TO vs. XSMO - Expense Ratio Comparison

XMC.TO has a 0.16% expense ratio, which is lower than XSMO's 0.39% expense ratio.

XSMO

Invesco S&P SmallCap Momentum ETF

XMC.TO

iShares S&P U.S. Mid-Cap Index ETF

Return for Risk

XMC.TO vs. XSMO — Risk / Return Rank

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

XMC.TO

XMC.TO Risk / Return Rank: 36
XMC.TO Sharpe Ratio Rank: 34
XMC.TO Sortino Ratio Rank: 35
XMC.TO Omega Ratio Rank: 34
XMC.TO Calmar Ratio Rank: 38
XMC.TO Martin Ratio Rank: 39

XSMO

XSMO Risk / Return Rank: 67
XSMO Sharpe Ratio Rank: 60
XSMO Sortino Ratio Rank: 62
XSMO Omega Ratio Rank: 57
XSMO Calmar Ratio Rank: 77
XSMO Martin Ratio Rank: 78

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.

XMC.TO vs. XSMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P U.S. Mid-Cap Index ETF (XMC.TO) 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.

	XMC.TO	XSMO	Difference
Sharpe ratio Return per unit of total volatility	0.61	0.81	-0.20
Sortino ratio Return per unit of downside risk	0.97	1.23	-0.26
Omega ratio Gain probability vs. loss probability	1.14	1.16	-0.03
Calmar ratio Return relative to maximum drawdown	0.96	1.67	-0.72
Martin ratio Return relative to average drawdown	3.53	6.23	-2.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XMC.TO vs. XSMO - Sharpe Ratio Comparison

The current XMC.TO Sharpe Ratio is 0.61, which is comparable to the XSMO Sharpe Ratio of 0.81. The chart below compares the historical Sharpe Ratios of XMC.TO and XSMO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XMC.TO	XSMO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.61	0.81	-0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	0.51	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	0.64	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.69	-0.16

Correlation

The correlation between XMC.TO and XSMO is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

XMC.TO vs. XSMO - Dividend Comparison

XMC.TO's dividend yield for the trailing twelve months is around 1.06%, more than XSMO's 0.61% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XMC.TO iShares S&P U.S. Mid-Cap Index ETF	1.06%	1.10%	0.94%	1.17%	1.27%	0.99%	1.07%	1.40%	1.56%	0.96%	1.09%	0.51%
XSMO Invesco S&P SmallCap Momentum ETF	0.61%	0.75%	0.63%	0.96%	1.19%	0.30%	0.82%	0.69%	0.66%	0.27%	0.30%	0.35%

Drawdowns

XMC.TO vs. XSMO - Drawdown Comparison

The maximum XMC.TO drawdown since its inception was -36.38%, which is greater than XSMO's maximum drawdown of -34.36%. Use the drawdown chart below to compare losses from any high point for XMC.TO and XSMO.

Drawdown Indicators

	XMC.TO	XSMO	Difference
Max Drawdown Largest peak-to-trough decline	-36.38%	-58.06%	+21.68%
Max Drawdown (1Y) Largest decline over 1 year	-14.31%	-13.42%	-0.89%
Max Drawdown (5Y) Largest decline over 5 years	-22.70%	-29.62%	+6.92%
Max Drawdown (10Y) Largest decline over 10 years	-36.38%	-39.39%	+3.01%
Current Drawdown Current decline from peak	-4.68%	-5.75%	+1.07%
Average Drawdown Average peak-to-trough decline	-5.12%	-11.21%	+6.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.88%	3.23%	+0.65%

Volatility

XMC.TO vs. XSMO - Volatility Comparison

The current volatility for iShares S&P U.S. Mid-Cap Index ETF (XMC.TO) is 6.71%, while Invesco S&P SmallCap Momentum ETF (XSMO) has a volatility of 7.84%. This indicates that XMC.TO 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

	XMC.TO	XSMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.71%	7.84%	-1.13%
Volatility (6M) Calculated over the trailing 6-month period	12.30%	13.81%	-1.51%
Volatility (1Y) Calculated over the trailing 1-year period	21.45%	22.37%	-0.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.60%	20.90%	-3.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.63%	22.32%	-3.69%