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XMC.TO vs. XSMO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XMC.TO vs. XSMO

Last updated Jun 4, 2026

XMC.TO (iShares S&P U.S. Mid-Cap Index ETF) and XSMO (Invesco S&P SmallCap Momentum ETF) are both exchange-traded funds - XMC.TO is a Mid Cap Blend Equities fund tracking the Morningstar US SMID TR CAD, while XSMO is a Momentum fund tracking the S&P SmallCap 600 Momentum Index. Both are passively managed. Over the past 10 years, XMC.TO returned 11.71%/yr vs 15.45%/yr for XSMO. A 0.75 correlation means they provide meaningful diversification when combined. XMC.TO charges 0.16%/yr vs 0.36%/yr for XSMO.

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.

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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 15.43% return, which is significantly lower than XSMO's 23.51% return. Over the past 10 years, XMC.TO has underperformed XSMO with an annualized return of 11.71%, while XSMO has yielded a comparatively higher 15.45% annualized return.

XMC.TO

1D
0.48%
1M
6.14%
YTD
15.43%
6M
13.83%
1Y
26.54%
3Y*
17.13%
5Y*
10.91%
10Y*
11.71%

XSMO

1D
-0.15%
1M
3.32%
YTD
23.51%
6M
19.87%
1Y
34.64%
3Y*
25.96%
5Y*
14.39%
10Y*
15.45%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XMC.TO vs. XSMO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XMC.TO
iShares S&P U.S. Mid-Cap Index ETF		15.43%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		23.51%4.77%27.54%18.87%-9.42%18.16%19.90%22.33%4.75%16.06%

Correlation

The correlation between XMC.TO and XSMO is 0.83, 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

0.83

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

0.85

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

0.84

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

0.78

Correlation (All Time)
Calculated using the full available price history since Aug 11, 2015

0.75

The correlation between XMC.TO and XSMO has been stable across timeframes, ranging from 0.75 to 0.85 - a consistent structural relationship.

XMC.TO vs. XSMO - Sectors Allocation Comparison

Sectors
XMC.TO
XSMO

Industrials

25.0%
19.5%

Technology

16.6%
20.9%

Financial Services

13.7%
12.3%

Consumer Cyclical

9.5%
9.0%

Healthcare

8.9%
13.9%

Real Estate

7.5%
5.0%

Energy

5.4%
3.1%

Basic Materials

4.8%
5.8%

Consumer Defensive

4.1%
2.4%

Utilities

3.0%
4.0%

Communication Services

1.0%
4.1%

Industrials

XMC.TO
25.0%
XSMO
19.5%

Technology

XMC.TO
16.6%
XSMO
20.9%

Financial Services

XMC.TO
13.7%
XSMO
12.3%

Consumer Cyclical

XMC.TO
9.5%
XSMO
9.0%

Healthcare

XMC.TO
8.9%
XSMO
13.9%

Real Estate

XMC.TO
7.5%
XSMO
5.0%

Energy

XMC.TO
5.4%
XSMO
3.1%

Basic Materials

XMC.TO
4.8%
XSMO
5.8%

Consumer Defensive

XMC.TO
4.1%
XSMO
2.4%

Utilities

XMC.TO
3.0%
XSMO
4.0%

Communication Services

XMC.TO
1.0%
XSMO
4.1%

Compare stocks, funds, or ETFs

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

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

Invesco S&P SmallCap Momentum ETF

Often compared with XMC.TO:
XMC.TO vs. XSMC.TOXMC.TO vs. ZEB.TOXMC.TO vs. XSP.TOXMC.TO vs. IMCGXMC.TO vs. FMDEXMC.TO vs. VOEXMC.TO vs. XEU.TO
Often compared with XSMO:
XSMO vs. AVUVXSMO vs. XSVMXSMO vs. FCPVXXSMO vs. DWASXSMO vs. VIOGXSMO vs. SLYGXSMO vs. DFAS

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: 5656
Overall Rank
XMC.TO Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
XMC.TO Sortino Ratio Rank: 5252
Sortino Ratio Rank
XMC.TO Omega Ratio Rank: 4747
Omega Ratio Rank
XMC.TO Calmar Ratio Rank: 6565
Calmar Ratio Rank
XMC.TO Martin Ratio Rank: 6565
Martin Ratio Rank
XSMO
XSMO Risk / Return Rank: 5858
Overall Rank
XSMO Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
XSMO Sortino Ratio Rank: 5252
Sortino Ratio Rank
XSMO Omega Ratio Rank: 4747
Omega Ratio Rank
XSMO Calmar Ratio Rank: 7373
Calmar Ratio Rank
XSMO Martin Ratio Rank: 6868
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.

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.TOXSMODifference
Sharpe ratioReturn per unit of total volatility
1.70
1.88

-0.18

Sortino ratioReturn per unit of downside risk
2.52
2.68

-0.16

Omega ratioGain probability vs. loss probability

1.30

1.32

-0.02

Calmar ratioReturn relative to maximum drawdown

3.22

4.18

-0.96

Martin ratioReturn relative to average drawdown

11.84

14.50

-2.66

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 1.70, which is comparable to the XSMO Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of XMC.TO 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.

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Sharpe Ratios by Period

XMC.TOXSMODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.70

1.88

-0.18

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.62

0.70

-0.08

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.63

0.69

-0.06

Sharpe Ratio (All Time)

Calculated using the full available price history

0.59

0.75

-0.16

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.

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Drawdown Indicators

XMC.TOXSMODifference

Max Drawdown

Largest peak-to-trough decline

-36.38%

-34.36%

-2.02%

Max Drawdown (1Y)

Largest decline over 1 year

-8.28%

-8.33%

+0.05%

Max Drawdown (3Y)

Largest decline over 3 years

-22.70%

-23.27%

+0.57%

Max Drawdown (5Y)

Largest decline over 5 years

-22.70%

-26.32%

+3.62%

Max Drawdown (10Y)

Largest decline over 10 years

-36.38%

-34.36%

-2.02%

Current Drawdown

Current decline from peak

0.00%

-1.18%

+1.18%

Average Drawdown

Average peak-to-trough decline

-5.05%

-6.46%

+1.41%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.25%

2.40%

-0.15%

Volatility

XMC.TO vs. XSMO - Volatility Comparison

The current volatility for iShares S&P U.S. Mid-Cap Index ETF (XMC.TO) is 4.57%, while Invesco S&P SmallCap Momentum ETF (XSMO) has a volatility of 6.33%. 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.

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Volatility by Period

XMC.TOXSMODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.57%

6.33%

-1.76%

Volatility (6M)

Calculated over the trailing 6-month period

11.57%

14.09%

-2.52%

Volatility (1Y)

Calculated over the trailing 1-year period

15.76%

18.56%

-2.80%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.62%

20.72%

-3.10%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.65%

22.36%

-3.71%

XMC.TO vs. XSMO - Expense Ratio Comparison

XMC.TO has a 0.16% expense ratio, which is lower than XSMO's 0.36% expense ratio.

Dividends

XMC.TO vs. XSMO - Dividend Comparison

XMC.TO's dividend yield for the trailing twelve months is around 0.96%, more than XSMO's 0.53% yield.

PositionTTM20252024202320222021202020192018201720162015
XMC.TO
iShares S&P U.S. Mid-Cap Index ETF		0.96%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		0.53%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

XMC.TO and XSMO have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XMC.TO is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XMC.TO is cheaper with a 0.16% expense ratio, compared with 0.36% for XSMO.

XMC.TO is categorized as Mid Cap Blend Equities, while XSMO is Momentum. XMC.TO tracks Morningstar US SMID TR CAD, while XSMO tracks S&P SmallCap 600 Momentum Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.16% for XMC.TO and 0.36% for XSMO.

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