XMHQ vs. OTCAX

Last updated Jun 5, 2026

XMHQ (Invesco S&P MidCap Quality ETF) and OTCAX (MFS Mid Cap Growth Fund) are both funds - XMHQ is a Mid Cap Blend Equities fund tracking the S&P MidCap 400 Index, while OTCAX is a Mid Cap Growth Equities fund managed by MFS. Over the past 10 years, XMHQ returned 12.75%/yr vs 12.18%/yr for OTCAX. A 0.77 correlation means they provide meaningful diversification when combined. XMHQ charges 0.25%/yr vs 1.00%/yr for OTCAX.

Performance

XMHQ vs. OTCAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P MidCap Quality ETF (XMHQ) and MFS Mid Cap Growth Fund (OTCAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XMHQ achieves a 10.27% return, which is significantly higher than OTCAX's 4.28% return. Both investments have delivered pretty close results over the past 10 years, with XMHQ having a 12.75% annualized return and OTCAX not far behind at 12.18%.

XMHQ

• 1D: 0.71%
• 1M: 2.77%
• YTD: 10.27%
• 6M: 9.61%
• 1Y: 15.31%
• 3Y*: 17.32%
• 5Y*: 9.53%
• 10Y*: 12.75%

OTCAX

• 1D: -0.57%
• 1M: 2.37%
• YTD: 4.28%
• 6M: 1.97%
• 1Y: 2.69%
• 3Y*: 14.09%
• 5Y*: 5.39%
• 10Y*: 12.18%

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

XMHQ vs. OTCAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XMHQ Invesco S&P MidCap Quality ETF	10.27%	4.71%	16.79%	29.51%	-12.42%	20.98%	26.61%	27.18%	-9.08%	15.64%
OTCAX MFS Mid Cap Growth Fund	4.28%	3.32%	23.47%	21.00%	-28.53%	13.66%	35.34%	37.43%	0.82%	25.95%

Correlation

The correlation between XMHQ and OTCAX is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.75
Correlation (All Time) Calculated using the full available price history since Dec 4, 2006	0.77

The correlation between XMHQ and OTCAX has been stable across timeframes, ranging from 0.75 to 0.83 - a consistent structural relationship.

Return for Risk

XMHQ vs. OTCAX — Risk / Return Rank

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

XMHQ

XMHQ Risk / Return Rank: 31
XMHQ Sharpe Ratio Rank: 28
XMHQ Sortino Ratio Rank: 30
XMHQ Omega Ratio Rank: 27
XMHQ Calmar Ratio Rank: 36
XMHQ Martin Ratio Rank: 34

OTCAX

OTCAX Risk / Return Rank: 4
OTCAX Sharpe Ratio Rank: 4
OTCAX Sortino Ratio Rank: 4
OTCAX Omega Ratio Rank: 4
OTCAX Calmar Ratio Rank: 4
OTCAX Martin Ratio Rank: 4

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.

XMHQ vs. OTCAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P MidCap Quality ETF (XMHQ) and MFS Mid Cap Growth Fund (OTCAX). 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.

	XMHQ	OTCAX	Difference
Sharpe ratio: Return per unit of total volatility	1.00	0.22	+0.77
Sortino ratio: Return per unit of downside risk	1.56	0.44	+1.12
Omega ratio: Gain probability vs. loss probability	1.18	1.05	+0.13
Calmar ratio: Return relative to maximum drawdown	1.74	0.23	+1.51
Martin ratio: Return relative to average drawdown	5.09	0.58	+4.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XMHQ vs. OTCAX - Sharpe Ratio Comparison

The current XMHQ Sharpe Ratio is 1.00, which is higher than the OTCAX Sharpe Ratio of 0.22. The chart below compares the historical Sharpe Ratios of XMHQ and OTCAX, 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

	XMHQ	OTCAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.00	0.22	+0.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	0.27	+0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	0.61	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.39	+0.06

Drawdowns

XMHQ vs. OTCAX - Drawdown Comparison

The maximum XMHQ drawdown since its inception was -58.19%, smaller than the maximum OTCAX drawdown of -74.39%. Use the drawdown chart below to compare losses from any high point for XMHQ and OTCAX.

Drawdown Indicators

	XMHQ	OTCAX	Difference
Max Drawdown Largest peak-to-trough decline	-58.19%	-74.39%	+16.20%
Max Drawdown (1Y) Largest decline over 1 year	-8.85%	-16.46%	+7.61%
Max Drawdown (3Y) Largest decline over 3 years	-24.56%	-21.05%	-3.51%
Max Drawdown (5Y) Largest decline over 5 years	-25.47%	-36.85%	+11.38%
Max Drawdown (10Y) Largest decline over 10 years	-36.90%	-36.85%	-0.05%
Current Drawdown Current decline from peak	0.00%	-3.57%	+3.57%
Average Drawdown Average peak-to-trough decline	-9.29%	-23.13%	+13.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.02%	6.40%	-3.38%

Volatility

XMHQ vs. OTCAX - Volatility Comparison

Invesco S&P MidCap Quality ETF (XMHQ) and MFS Mid Cap Growth Fund (OTCAX) have volatilities of 4.27% and 4.26%, 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.

Volatility by Period

	XMHQ	OTCAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.27%	4.26%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	11.10%	13.31%	-2.21%
Volatility (1Y) Calculated over the trailing 1-year period	15.43%	16.53%	-1.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.74%	20.17%	+0.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.70%	19.96%	+0.74%

XMHQ vs. OTCAX - Expense Ratio Comparison

XMHQ has a 0.25% expense ratio, which is lower than OTCAX's 1.00% expense ratio.

Dividends

XMHQ vs. OTCAX - Dividend Comparison

XMHQ's dividend yield for the trailing twelve months is around 0.55%, less than OTCAX's 16.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OTCAX MFS Mid Cap Growth Fund	16.07%	16.76%	15.59%	0.00%	0.00%	3.64%	0.83%	0.86%	4.70%	8.80%	5.67%	2.84%
XMHQ Invesco S&P MidCap Quality ETF	0.55%	0.64%	5.20%	0.73%	1.72%	1.00%	1.12%	1.22%	1.59%	1.06%	1.63%	1.34%

Frequently Asked Questions

Can I hold both XMHQ and OTCAX in my portfolio?

XMHQ and OTCAX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XMHQ or OTCAX?

XMHQ has higher volatility (4.27%) compared to OTCAX (4.26%). In terms of maximum drawdown, XMHQ dropped -58.19% vs OTCAX's -74.39%.

Which has better risk-adjusted returns?

XMHQ currently has the higher Sharpe Ratio (1.00 vs 0.22), 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.