XMLV vs. LGLV

Last updated Jun 4, 2026

XMLV (Invesco S&P MidCap Low Volatility ETF) and LGLV (SPDR SSGA US Large Cap Low Volatility Index ETF) are both Volatility Hedged Equity funds - XMLV tracks the S&P MidCap 400 Low Volatility Index while LGLV tracks the SSGA US Large Cap Low Volatility (TR). Both are passively managed. Over the past 10 years, XMLV returned 7.60%/yr vs 11.00%/yr for LGLV. A 0.80 correlation means they provide meaningful diversification when combined. XMLV charges 0.25%/yr vs 0.12%/yr for LGLV.

Performance

XMLV vs. LGLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P MidCap Low Volatility ETF (XMLV) and SPDR SSGA US Large Cap Low Volatility Index ETF (LGLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XMLV achieves a 2.54% return, which is significantly higher than LGLV's 0.83% return. Over the past 10 years, XMLV has underperformed LGLV with an annualized return of 7.60%, while LGLV has yielded a comparatively higher 11.00% annualized return.

XMLV

• 1D: -0.36%
• 1M: -2.36%
• YTD: 2.54%
• 6M: 2.22%
• 1Y: 5.54%
• 3Y*: 10.18%
• 5Y*: 5.52%
• 10Y*: 7.60%

LGLV

• 1D: -0.06%
• 1M: -1.79%
• YTD: 0.83%
• 6M: 1.07%
• 1Y: 2.87%
• 3Y*: 11.07%
• 5Y*: 7.70%
• 10Y*: 11.00%

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

XMLV vs. LGLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XMLV Invesco S&P MidCap Low Volatility ETF	2.54%	5.55%	17.08%	1.86%	-6.55%	23.00%	-8.42%	23.77%	-0.16%	13.72%
LGLV SPDR SSGA US Large Cap Low Volatility Index ETF	0.83%	8.37%	16.22%	9.19%	-8.17%	27.95%	7.42%	30.83%	0.32%	17.84%

Correlation

The correlation between XMLV and LGLV is 0.84, 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	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Feb 22, 2013	0.80

The correlation between XMLV and LGLV has been stable across timeframes, ranging from 0.80 to 0.89 - a consistent structural relationship.

XMLV vs. LGLV - Sectors Allocation Comparison

Sectors	XMLV	LGLV
Real Estate	30.8%	17.4%
Financial Services	21.6%	9.9%
Utilities	20.0%	11.8%
Industrials	9.7%	18.4%
Consumer Defensive	4.7%	5.9%
Energy	3.9%	3.7%
Consumer Cyclical	3.3%	9.4%
Healthcare	2.9%	7.0%
Basic Materials	2.1%	3.5%
Communication Services	1.0%	4.2%
Technology	1.0%	8.8%

Return for Risk

XMLV vs. LGLV — Risk / Return Rank

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

XMLV

XMLV Risk / Return Rank: 18
XMLV Sharpe Ratio Rank: 17
XMLV Sortino Ratio Rank: 16
XMLV Omega Ratio Rank: 15
XMLV Calmar Ratio Rank: 19
XMLV Martin Ratio Rank: 21

LGLV

LGLV Risk / Return Rank: 13
LGLV Sharpe Ratio Rank: 13
LGLV Sortino Ratio Rank: 12
LGLV Omega Ratio Rank: 12
LGLV Calmar Ratio Rank: 14
LGLV Martin Ratio Rank: 14

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.

XMLV vs. LGLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P MidCap Low Volatility ETF (XMLV) and SPDR SSGA US Large Cap Low Volatility Index ETF (LGLV). 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.

	XMLV	LGLV	Difference
Sharpe ratio: Return per unit of total volatility	0.54	0.31	+0.22
Sortino ratio: Return per unit of downside risk	0.83	0.51	+0.32
Omega ratio: Gain probability vs. loss probability	1.09	1.06	+0.04
Calmar ratio: Return relative to maximum drawdown	0.79	0.42	+0.37
Martin ratio: Return relative to average drawdown	2.66	1.08	+1.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XMLV vs. LGLV - Sharpe Ratio Comparison

The current XMLV Sharpe Ratio is 0.54, which is higher than the LGLV Sharpe Ratio of 0.31. The chart below compares the historical Sharpe Ratios of XMLV and LGLV, 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

	XMLV	LGLV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.54	0.31	+0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.60	-0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.69	-0.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.76	-0.17

Drawdowns

XMLV vs. LGLV - Drawdown Comparison

The maximum XMLV drawdown since its inception was -39.86%, which is greater than LGLV's maximum drawdown of -36.64%. Use the drawdown chart below to compare losses from any high point for XMLV and LGLV.

Drawdown Indicators

	XMLV	LGLV	Difference
Max Drawdown Largest peak-to-trough decline	-39.86%	-36.64%	-3.22%
Max Drawdown (1Y) Largest decline over 1 year	-7.03%	-6.86%	-0.17%
Max Drawdown (3Y) Largest decline over 3 years	-13.80%	-10.17%	-3.63%
Max Drawdown (5Y) Largest decline over 5 years	-16.53%	-17.49%	+0.96%
Max Drawdown (10Y) Largest decline over 10 years	-39.86%	-36.64%	-3.22%
Current Drawdown Current decline from peak	-4.89%	-6.60%	+1.71%
Average Drawdown Average peak-to-trough decline	-4.26%	-3.21%	-1.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.09%	2.67%	-0.58%

Volatility

XMLV vs. LGLV - Volatility Comparison

Invesco S&P MidCap Low Volatility ETF (XMLV) has a higher volatility of 3.06% compared to SPDR SSGA US Large Cap Low Volatility Index ETF (LGLV) at 2.42%. This indicates that XMLV's price experiences larger fluctuations and is considered to be riskier than LGLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XMLV	LGLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.06%	2.42%	+0.64%
Volatility (6M) Calculated over the trailing 6-month period	7.34%	6.52%	+0.82%
Volatility (1Y) Calculated over the trailing 1-year period	10.35%	9.20%	+1.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.46%	12.91%	+1.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.97%	16.06%	+0.91%

XMLV vs. LGLV - Expense Ratio Comparison

XMLV has a 0.25% expense ratio, which is higher than LGLV's 0.12% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XMLV vs. LGLV - Dividend Comparison

XMLV's dividend yield for the trailing twelve months is around 2.91%, more than LGLV's 2.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LGLV SPDR SSGA US Large Cap Low Volatility Index ETF	2.04%	1.94%	1.93%	2.03%	1.95%	1.65%	1.98%	1.89%	2.09%	4.39%	2.54%	2.97%
XMLV Invesco S&P MidCap Low Volatility ETF	2.91%	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 LGLV in my portfolio?

XMLV and LGLV have a correlation of 0.84, 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 LGLV?

XMLV has higher volatility (3.06%) compared to LGLV (2.42%). In terms of maximum drawdown, XMLV dropped -39.86% vs LGLV's -36.64%.

Which ETF is better, XMLV or LGLV?

On 10-year performance, LGLV leads with 11.00% vs 7.60% for XMLV. On fees, LGLV is cheaper at 0.12% per year. On volatility, LGLV has been the lower-risk option at 2.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XMLV or LGLV?

Over the 10-year period, LGLV has performed better with a 11.00% return vs 7.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XMLV or LGLV?

LGLV is cheaper with a 0.12% expense ratio, compared with 0.25% for XMLV.

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

XMLV has the higher dividend yield at 2.91%, compared with 2.04% for LGLV.

What is the main difference between XMLV and LGLV?

XMLV tracks S&P MidCap 400 Low Volatility Index, while LGLV tracks SSGA US Large Cap Low Volatility (TR). They also come from different issuers: Invesco and State Street. Their fees differ too: 0.25% for XMLV and 0.12% for LGLV.

Which has better risk-adjusted returns?

XMLV currently has the higher Sharpe Ratio (0.54 vs 0.31), 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.