XMLV vs. CDC

Last updated Aug 2, 2026

XMLV (Invesco S&P MidCap Low Volatility ETF) and CDC (VictoryShares US EQ Income Enhanced Volatility Wtd ETF) are both Low Volatility funds - XMLV tracks the S&P MidCap 400 Low Volatility Index while CDC tracks the Nasdaq Victory U.S. Large Cap High Dividend 100 Long/Cash Volatility Weighted Index. Both are passively managed. Over the past 10 years, XMLV returned 8.01%/yr vs 10.37%/yr for CDC. Their correlation of 0.82 means they have usually moved in the same direction. XMLV charges 0.25%/yr vs 0.37%/yr for CDC.

Performance

XMLV vs. CDC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P MidCap Low Volatility ETF (XMLV) and VictoryShares US EQ Income Enhanced Volatility Wtd ETF (CDC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XMLV achieves a 11.48% return, which is significantly lower than CDC's 17.48% return. Over the past 10 years, XMLV has underperformed CDC with an annualized return of 8.01%, while CDC has yielded a comparatively higher 10.37% annualized return.

XMLV

• 1D: -0.40%
• 1M: 1.77%
• 6M: 8.77%
• YTD: 11.48%
• 1Y: 15.65%
• 3Y*: 11.57%
• 5Y*: 7.14%
• 10Y*: 8.01%
• ALL TIME*: 9.98%

CDC

• 1D: -0.37%
• 1M: 0.43%
• 6M: 10.50%
• YTD: 17.48%
• 1Y: 22.44%
• 3Y*: 13.45%
• 5Y*: 6.78%
• 10Y*: 10.37%
• ALL TIME*: 10.00%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CDC VictoryShares US EQ Income Enhanced Volatility Wtd ETF	$1.05M	$965.48K	$1.21M
XMLV Invesco S&P MidCap Low Volatility ETF	$1.62M	$1.47M	$1.28M

XMLV vs. CDC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XMLV Invesco S&P MidCap Low Volatility ETF	11.48%	5.55%	17.08%	1.86%	-6.55%	23.00%	-8.42%	23.77%	-0.16%	13.72%
CDC VictoryShares US EQ Income Enhanced Volatility Wtd ETF	17.48%	8.96%	14.48%	-4.99%	-7.86%	33.05%	12.88%	19.64%	-5.97%	15.77%

Correlation

The correlation between XMLV and CDC is 0.83, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.83
Correlation (3Y) Balances recent behavior with more history.	0.81
Correlation (5Y) Shows whether the relationship held over a longer period.	0.83
Correlation (10Y) Provides a long-term view across more market conditions.	0.82
Correlation (All Time) Calculated using the full available price history since Jul 2, 2014	0.82

The correlation between XMLV and CDC has been stable across timeframes, ranging from 0.81 to 0.83 - a consistent structural relationship.

XMLV vs. CDC - Sectors Allocation Comparison

Sectors	XMLV	CDC
Real Estate	32.8%	0.0%
Financial Services	26.0%	24.1%
Utilities	17.8%	24.3%
Industrials	10.0%	2.3%
Consumer Cyclical	4.4%	7.0%
Energy	3.7%	8.6%
Consumer Defensive	2.2%	15.7%
Healthcare	2.0%	7.2%
Basic Materials	1.0%	0.6%
Communication Services	1.0%	3.9%
Technology	1.0%	6.9%

Return for Risk

XMLV vs. CDC — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

XMLV

XMLV Risk / Return Rank: 61
XMLV Sharpe Ratio Rank: 61
XMLV Sortino Ratio Rank: 64
XMLV Omega Ratio Rank: 55
XMLV Calmar Ratio Rank: 62
XMLV Martin Ratio Rank: 61

CDC

CDC Risk / Return Rank: 89
CDC Sharpe Ratio Rank: 88
CDC Sortino Ratio Rank: 90
CDC Omega Ratio Rank: 84
CDC Calmar Ratio Rank: 90
CDC Martin Ratio Rank: 89

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

XMLV vs. CDC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P MidCap Low Volatility ETF (XMLV) and VictoryShares US EQ Income Enhanced Volatility Wtd ETF (CDC). 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.

	XMLV	CDC	Difference
Sharpe ratio: Return per unit of total volatility	1.43	2.14	-0.72
Sortino ratio: Return per unit of downside risk	2.13	3.18	-1.06
Omega ratio: Gain probability vs. loss probability	1.24	1.36	-0.12
Calmar ratio: Return relative to maximum drawdown	2.19	3.90	-1.71
Martin ratio: Return relative to average drawdown	7.26	13.80	-6.54

XMLV vs. CDC - Sharpe Ratio Comparison

The current XMLV Sharpe Ratio is 1.43, which is lower than the CDC Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of XMLV and CDC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

XMLV vs. CDC - Drawdown Comparison

The maximum XMLV drawdown since its inception was -39.86%, which is greater than CDC's maximum drawdown of -21.37%. Use the drawdown chart below to compare losses from any high point for XMLV and CDC.

Drawdown Indicators

	XMLV	CDC	Difference
Max Drawdown Largest peak-to-trough decline	-39.86%	-21.37%	-18.49%
Max Drawdown (1Y) Largest decline over 1 year	-7.03%	-5.67%	-1.36%
Max Drawdown (3Y) Largest decline over 3 years	-13.80%	-12.70%	-1.10%
Max Drawdown (5Y) Largest decline over 5 years	-16.53%	-21.37%	+4.84%
Max Drawdown (10Y) Largest decline over 10 years	-39.86%	-21.37%	-18.49%
Current Drawdown Current decline from peak	-2.14%	-2.22%	+0.08%
Average Drawdown Average peak-to-trough decline	-4.22%	-5.05%	+0.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.12%	1.60%	+0.52%

Volatility

XMLV vs. CDC - Volatility Comparison

The current volatility for Invesco S&P MidCap Low Volatility ETF (XMLV) is 3.85%, while VictoryShares US EQ Income Enhanced Volatility Wtd ETF (CDC) has a volatility of 4.16%. This indicates that XMLV experiences smaller price fluctuations and is considered to be less risky than CDC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XMLV	CDC	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.85%	4.16%	-0.31%
Volatility (6M) Calculated over the trailing 6-month period	8.30%	7.81%	+0.49%
Volatility (1Y) Calculated over the trailing 1-year period	10.82%	10.33%	+0.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.50%	12.57%	+1.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.97%	13.21%	+3.76%

XMLV vs. CDC - Expense Ratio Comparison

XMLV has a 0.25% expense ratio, which is lower than CDC's 0.37% expense ratio.

Dividends

XMLV vs. CDC - Dividend Comparison

XMLV's dividend yield for the trailing twelve months is around 2.85%, less than CDC's 3.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CDC VictoryShares US EQ Income Enhanced Volatility Wtd ETF	3.06%	3.36%	3.32%	4.24%	3.48%	2.65%	2.48%	3.04%	3.37%	2.81%	2.99%	3.17%
XMLV Invesco S&P MidCap Low Volatility ETF	2.85%	2.87%	2.23%	2.34%	2.05%	1.14%	1.93%	2.02%	2.13%	1.74%	1.72%	1.85%

Frequently Asked Questions

Can I hold both XMLV and CDC in my portfolio?

XMLV and CDC 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.

Which is riskier, XMLV or CDC?

CDC has higher volatility (4.16%) compared to XMLV (3.85%). In terms of maximum drawdown, XMLV dropped -39.86% vs CDC's -21.37%.

Which ETF is better, XMLV or CDC?

On 10-year performance, CDC leads with 10.37% vs 8.01% for XMLV. On fees, XMLV is cheaper at 0.25% per year. On volatility, XMLV has been the lower-risk option at 3.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XMLV or CDC?

Over the 10-year period, CDC has performed better with a 10.37% return vs 8.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XMLV or CDC?

XMLV is cheaper with a 0.25% expense ratio, compared with 0.37% for CDC.

Which ETF pays a higher dividend yield, XMLV or CDC?

CDC has the higher dividend yield at 3.06%, compared with 2.85% for XMLV.

What is the main difference between XMLV and CDC?

XMLV tracks S&P MidCap 400 Low Volatility Index, while CDC tracks Nasdaq Victory U.S. Large Cap High Dividend 100 Long/Cash Volatility Weighted Index. They also come from different issuers: Invesco and Crestview. Their fees differ too: 0.25% for XMLV and 0.37% for CDC.

Which has better risk-adjusted returns?

CDC currently has the higher Sharpe Ratio (2.14 vs 1.43), 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.