XMMO vs. IYW
XMMO (Invesco S&P MidCap Momentum ETF) and IYW (iShares U.S. Technology ETF) are both exchange-traded funds - XMMO is a Momentum fund tracking the S&P MidCap 400 Momentum Index, while IYW is a Technology Equities fund tracking the Russell 1000 Technology RIC 22.5/45 Capped Index. Both are passively managed. Over the past 10 years, XMMO returned 19.95%/yr vs 25.63%/yr for IYW. A 0.75 correlation means they provide meaningful diversification when combined. XMMO charges 0.35%/yr vs 0.38%/yr for IYW.
Performance
XMMO vs. IYW - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both stocks are quite close, with XMMO having a 22.77% return and IYW slightly lower at 22.66%. Over the past 10 years, XMMO has underperformed IYW with an annualized return of 19.95%, while IYW has yielded a comparatively higher 25.63% annualized return.
XMMO
- 1D
- 0.96%
- 1M
- 0.99%
- YTD
- 22.77%
- 6M
- 22.33%
- 1Y
- 36.63%
- 3Y*
- 30.62%
- 5Y*
- 15.91%
- 10Y*
- 19.95%
IYW
- 1D
- 0.61%
- 1M
- 1.73%
- YTD
- 22.66%
- 6M
- 23.40%
- 1Y
- 47.94%
- 3Y*
- 32.06%
- 5Y*
- 21.19%
- 10Y*
- 25.63%
XMMO vs. IYW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XMMO Invesco S&P MidCap Momentum ETF | 22.77% | 13.04% | 38.03% | 20.39% | -16.02% | 16.69% | 29.17% | 36.78% | 6.12% | 37.18% |
IYW iShares U.S. Technology ETF | 22.66% | 25.38% | 30.25% | 65.44% | -34.83% | 35.44% | 47.45% | 46.64% | -0.93% | 36.60% |
Correlation
The correlation between XMMO and IYW is 0.63, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2005 | 0.75 |
The correlation between XMMO and IYW shifts across timeframes, from 0.63 (1 year) to 0.75 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
XMMO vs. IYW — Risk / Return Rank
XMMO
IYW
XMMO vs. IYW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P MidCap Momentum ETF (XMMO) and iShares U.S. Technology ETF (IYW). 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.
| XMMO | IYW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.38 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 4.41 | 2.70 | +1.71 |
| Martin ratioReturn relative to average drawdown | 17.54 | 8.68 | +8.86 |
Loading charts...
Drawdowns
XMMO vs. IYW - Drawdown Comparison
The maximum XMMO drawdown since its inception was -55.37%, smaller than the maximum IYW drawdown of -81.90%. Use the drawdown chart below to compare losses from any high point for XMMO and IYW.
Loading charts...
Drawdown Indicators
| XMMO | IYW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.37% | -81.90% | +26.53% |
Max Drawdown (1Y)Largest decline over 1 year | -8.34% | -17.81% | +9.47% |
Max Drawdown (3Y)Largest decline over 3 years | -24.93% | -26.47% | +1.54% |
Max Drawdown (5Y)Largest decline over 5 years | -27.91% | -39.44% | +11.53% |
Max Drawdown (10Y)Largest decline over 10 years | -36.74% | -39.44% | +2.70% |
Current DrawdownCurrent decline from peak | -1.19% | -5.81% | +4.62% |
Average DrawdownAverage peak-to-trough decline | -9.44% | -34.62% | +25.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.09% | 5.54% | -3.45% |
Volatility
XMMO vs. IYW - Volatility Comparison
Invesco S&P MidCap Momentum ETF (XMMO) and iShares U.S. Technology ETF (IYW) have volatilities of 9.07% and 9.41%, 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.
Loading charts...
Volatility by Period
| XMMO | IYW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.07% | 9.41% | -0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 16.76% | 17.67% | -0.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.74% | 21.47% | -1.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.62% | 26.07% | -4.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.35% | 25.20% | -2.85% |
XMMO vs. IYW - Expense Ratio Comparison
XMMO has a 0.35% expense ratio, which is lower than IYW's 0.38% expense ratio.
Dividends
XMMO vs. IYW - Dividend Comparison
XMMO's dividend yield for the trailing twelve months is around 0.61%, more than IYW's 0.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IYW iShares U.S. Technology ETF | 0.11% | 0.14% | 0.21% | 0.34% | 0.50% | 0.31% | 0.56% | 0.72% | 0.92% | 0.82% | 1.14% | 1.12% |
XMMO Invesco S&P MidCap Momentum ETF | 0.61% | 0.78% | 0.34% | 0.80% | 1.43% | 0.41% | 0.61% | 0.60% | 0.19% | 0.21% | 0.22% | 0.64% |
Frequently Asked Questions
XMMO and IYW have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IYW has higher volatility (9.41%) compared to XMMO (9.07%). In terms of maximum drawdown, XMMO dropped -55.37% vs IYW's -81.90%.
On 10-year performance, IYW leads with 25.63% vs 19.95% for XMMO. On fees, XMMO is cheaper at 0.35% per year. On volatility, XMMO has been the lower-risk option at 9.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IYW has performed better with a 25.63% return vs 19.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XMMO is cheaper with a 0.35% expense ratio, compared with 0.38% for IYW.
XMMO has the higher dividend yield at 0.61%, compared with 0.11% for IYW.
XMMO is categorized as Momentum, while IYW is Technology Equities. XMMO tracks S&P MidCap 400 Momentum Index, while IYW tracks Russell 1000 Technology RIC 22.5/45 Capped Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.35% for XMMO and 0.38% for IYW.
IYW currently has the higher Sharpe Ratio (2.24 vs 1.86), 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.
Find the right allocation for XMMO and IYW
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer