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XMM.TO vs. SPMO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XMM.TO vs. SPMO

Last updated Aug 5, 2026
Documentation

XMM.TO (iShares MSCI Min Vol Emerging Markets Index ETF) and SPMO (Invesco S&P 500 Momentum ETF) are both exchange-traded funds - XMM.TO is a Emerging Markets Equities fund tracking the Morningstar EM GR CAD, while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. Both are passively managed. Over the past 10 years, XMM.TO returned 6.06%/yr vs 21.09%/yr for SPMO. Their 0.32 correlation means their historical movements had little consistent relationship. XMM.TO charges 0.42%/yr vs 0.13%/yr for SPMO.

Performance

XMM.TO vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares MSCI Min Vol Emerging Markets Index ETF (XMM.TO) and Invesco S&P 500 Momentum ETF (SPMO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, XMM.TO achieves a 18.53% return, which is significantly lower than SPMO's 30.51% return. Over the past 10 years, XMM.TO has underperformed SPMO with an annualized return of 6.06%, while SPMO has yielded a comparatively higher 21.09% annualized return.

XMM.TO

1D
3.53%
1M
-1.65%
6M
13.71%
YTD
18.53%
1Y
23.63%
3Y*
14.39%
5Y*
7.96%
10Y*
6.06%
ALL TIME*
6.62%

SPMO

1D
4.25%
1M
-0.98%
6M
30.49%
YTD
30.51%
1Y
34.84%
3Y*
42.37%
5Y*
23.75%
10Y*
21.09%
ALL TIME*
20.36%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

SPMO

Invesco S&P 500 Momentum ETF
CA$473.38MCA$484.74MCA$493.29M

XMM.TO

iShares MSCI Min Vol Emerging Markets Index ETF
CA$59.82KCA$74.15KCA$94.80K

XMM.TO vs. SPMO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XMM.TO
iShares MSCI Min Vol Emerging Markets Index ETF		18.53%7.65%16.66%4.10%-7.83%3.95%4.32%1.36%2.38%18.75%
SPMO
Invesco S&P 500 Momentum ETF		30.51%20.80%58.16%14.76%-4.78%22.58%25.21%20.74%7.41%19.11%

Correlation

The correlation between XMM.TO and SPMO is 0.56, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.56

Correlation (3Y)
Balances recent behavior with more history.

0.36

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.31

Correlation (10Y)
Provides a long-term view across more market conditions.

0.34

Correlation (All Time)
Calculated using the full available price history since Oct 12, 2015

0.32

Over the past year, XMM.TO and SPMO have become more correlated (0.56) than their long-term average of 0.32, meaning their price movements have been converging.

XMM.TO vs. SPMO - Sectors Allocation Comparison

Sectors
XMM.TO
SPMO

Technology

37.4%
53.7%

Financial Services

18.3%
6.0%

Communication Services

10.0%
7.4%

Consumer Cyclical

6.7%
1.2%

Industrials

5.8%
11.2%

Healthcare

5.5%
6.9%

Consumer Defensive

5.4%
4.2%

Utilities

4.2%
2.7%

Energy

3.5%
3.3%

Basic Materials

2.6%
1.9%

Real Estate

0.6%
1.1%

Technology

XMM.TO
37.4%
SPMO
53.7%

Financial Services

XMM.TO
18.3%
SPMO
6.0%

Communication Services

XMM.TO
10.0%
SPMO
7.4%

Consumer Cyclical

XMM.TO
6.7%
SPMO
1.2%

Industrials

XMM.TO
5.8%
SPMO
11.2%

Healthcare

XMM.TO
5.5%
SPMO
6.9%

Consumer Defensive

XMM.TO
5.4%
SPMO
4.2%

Utilities

XMM.TO
4.2%
SPMO
2.7%

Energy

XMM.TO
3.5%
SPMO
3.3%

Basic Materials

XMM.TO
2.6%
SPMO
1.9%

Real Estate

XMM.TO
0.6%
SPMO
1.1%

Compare stocks, funds, or ETFs

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

iShares MSCI Min Vol Emerging Markets Index ETF

Invesco S&P 500 Momentum ETF

Often compared with XMM.TO:
XMM.TO vs. XSEM.TOXMM.TO vs. XMU.TOXMM.TO vs. XEC.TOXMM.TO vs. XEQT.TOXMM.TO vs. HTAE.TOXMM.TO vs. VEE.TOXMM.TO vs. XDG.TO
Often compared with SPMO:
SPMO vs. VOOSPMO vs. QQQSPMO vs. SCHGSPMO vs. MTUMSPMO vs. VUGSPMO vs. VFMOSPMO vs. XMMO

Return for Risk

XMM.TO vs. SPMO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
XMM.TO
XMM.TO Risk / Return Rank: 5656
Overall Rank
XMM.TO Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
XMM.TO Sortino Ratio Rank: 5252
Sortino Ratio Rank
XMM.TO Omega Ratio Rank: 6464
Omega Ratio Rank
XMM.TO Calmar Ratio Rank: 5858
Calmar Ratio Rank
XMM.TO Martin Ratio Rank: 5656
Martin Ratio Rank
SPMO
SPMO Risk / Return Rank: 5050
Overall Rank
SPMO Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
SPMO Sortino Ratio Rank: 4747
Sortino Ratio Rank
SPMO Omega Ratio Rank: 4949
Omega Ratio Rank
SPMO Calmar Ratio Rank: 5151
Calmar Ratio Rank
SPMO Martin Ratio Rank: 5656
Martin Ratio Rank
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.

XMM.TO vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Min Vol Emerging Markets Index ETF (XMM.TO) and Invesco S&P 500 Momentum ETF (SPMO). 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.

XMM.TOSPMODifference
Sharpe ratioReturn per unit of total volatility
1.47
1.43

+0.04

Sortino ratioReturn per unit of downside risk
2.09
2.03

+0.06

Omega ratioGain probability vs. loss probability

1.31

1.27

+0.04

Calmar ratioReturn relative to maximum drawdown

2.35

2.16

+0.19

Martin ratioReturn relative to average drawdown

7.34

7.17

+0.17

XMM.TO vs. SPMO - Sharpe Ratio Comparison

The current XMM.TO Sharpe Ratio is 1.47, which is comparable to the SPMO Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of XMM.TO and SPMO, 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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Drawdowns

XMM.TO vs. SPMO - Drawdown Comparison

The maximum XMM.TO drawdown since its inception was -22.07%, smaller than the maximum SPMO drawdown of -26.80%. Use the drawdown chart below to compare losses from any high point for XMM.TO and SPMO.

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Drawdown Indicators

XMM.TOSPMODifference

Max Drawdown

Largest peak-to-trough decline

-22.07%

-26.80%

+4.73%

Max Drawdown (1Y)

Largest decline over 1 year

-10.09%

-16.19%

+6.10%

Max Drawdown (3Y)

Largest decline over 3 years

-10.09%

-21.35%

+11.26%

Max Drawdown (5Y)

Largest decline over 5 years

-15.42%

-21.43%

+6.01%

Max Drawdown (10Y)

Largest decline over 10 years

-22.07%

-26.80%

+4.73%

Current Drawdown

Current decline from peak

-4.89%

-7.49%

+2.60%

Average Drawdown

Average peak-to-trough decline

-5.19%

-4.20%

-0.99%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.23%

4.87%

-1.64%

Volatility

XMM.TO vs. SPMO - Volatility Comparison

The current volatility for iShares MSCI Min Vol Emerging Markets Index ETF (XMM.TO) is 7.33%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 11.03%. This indicates that XMM.TO experiences smaller price fluctuations and is considered to be less risky than SPMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XMM.TOSPMODifference

Volatility (1M)

Calculated over the trailing 1-month period

7.33%

11.03%

-3.70%

Volatility (6M)

Calculated over the trailing 6-month period

14.99%

22.16%

-7.17%

Volatility (1Y)

Calculated over the trailing 1-year period

16.15%

24.44%

-8.29%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.21%

21.60%

-10.39%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

12.33%

22.06%

-9.73%

XMM.TO vs. SPMO - Expense Ratio Comparison

XMM.TO has a 0.42% expense ratio, which is higher than SPMO's 0.13% expense ratio.

Dividends

XMM.TO vs. SPMO - Dividend Comparison

XMM.TO's dividend yield for the trailing twelve months is around 1.97%, more than SPMO's 0.69% yield.

PositionTTM20252024202320222021202020192018201720162015
SPMO
Invesco S&P 500 Momentum ETF		0.69%0.73%0.48%1.63%1.66%0.52%1.27%1.39%1.05%0.77%1.94%0.36%
XMM.TO
iShares MSCI Min Vol Emerging Markets Index ETF		1.97%2.37%2.95%2.55%1.55%1.91%2.09%2.44%2.23%2.09%2.35%2.16%

Frequently Asked Questions

XMM.TO and SPMO have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SPMO is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SPMO is cheaper with a 0.13% expense ratio, compared with 0.42% for XMM.TO.

XMM.TO is categorized as Emerging Markets Equities, while SPMO is Momentum. XMM.TO tracks Morningstar EM GR CAD, while SPMO tracks S&P 500 Momentum Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.42% for XMM.TO and 0.13% for SPMO.

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