XMMO vs. PRN

Last updated Jun 3, 2026

XMMO (Invesco S&P MidCap Momentum ETF) and PRN (Invesco DWA Industrials Momentum ETF) are both Momentum funds from Invesco - XMMO tracks the S&P MidCap 400 Momentum Index while PRN tracks the DWA Industrials Technical Leaders Index. Both are passively managed. Over the past 10 years, XMMO returned 19.66%/yr vs 18.44%/yr for PRN. Their correlation of 0.84 suggests significant overlap in exposure. XMMO charges 0.35%/yr vs 0.60%/yr for PRN.

Performance

XMMO vs. PRN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P MidCap Momentum ETF (XMMO) and Invesco DWA Industrials Momentum ETF (PRN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XMMO achieves a 22.96% return, which is significantly lower than PRN's 40.98% return. Over the past 10 years, XMMO has outperformed PRN with an annualized return of 19.66%, while PRN has yielded a comparatively lower 18.44% annualized return.

XMMO

• 1D: 2.16%
• 1M: 6.07%
• YTD: 22.96%
• 6M: 24.84%
• 1Y: 37.37%
• 3Y*: 31.83%
• 5Y*: 16.81%
• 10Y*: 19.66%

PRN

• 1D: 2.37%
• 1M: 5.73%
• YTD: 40.98%
• 6M: 45.84%
• 1Y: 66.50%
• 3Y*: 36.69%
• 5Y*: 20.08%
• 10Y*: 18.44%

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

XMMO vs. PRN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XMMO Invesco S&P MidCap Momentum ETF	22.96%	13.04%	38.03%	20.39%	-16.02%	16.69%	29.17%	36.78%	6.12%	37.18%
PRN Invesco DWA Industrials Momentum ETF	40.98%	13.74%	30.35%	37.96%	-25.09%	25.21%	36.39%	34.52%	-16.19%	22.82%

Correlation

The correlation between XMMO and PRN is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Oct 13, 2006	0.84

The correlation between XMMO and PRN has been stable across timeframes, ranging from 0.84 to 0.89 - a consistent structural relationship.

XMMO vs. PRN - Sectors Allocation Comparison

Sectors	XMMO	PRN
Industrials	41.1%	79.3%
Technology	16.7%	19.4%
Energy	7.7%	1.6%
Basic Materials	7.2%	1.8%
Healthcare	6.3%	-
Real Estate	6.1%	-
Utilities	5.8%	-
Consumer Cyclical	4.6%	1.2%
Financial Services	2.4%	0.1%
Communication Services	1.6%	-
Consumer Defensive	0.5%	-

Return for Risk

XMMO vs. PRN — Risk / Return Rank

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

XMMO

XMMO Risk / Return Rank: 69
XMMO Sharpe Ratio Rank: 59
XMMO Sortino Ratio Rank: 59
XMMO Omega Ratio Rank: 56
XMMO Calmar Ratio Rank: 84
XMMO Martin Ratio Rank: 86

PRN

PRN Risk / Return Rank: 71
PRN Sharpe Ratio Rank: 70
PRN Sortino Ratio Rank: 61
PRN Omega Ratio Rank: 62
PRN Calmar Ratio Rank: 85
PRN Martin Ratio Rank: 79

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.

XMMO vs. PRN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P MidCap Momentum ETF (XMMO) and Invesco DWA Industrials Momentum ETF (PRN). 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.

	XMMO	PRN	Difference
Sharpe ratio Return per unit of total volatility	2.01	2.33	-0.33
Sortino ratio Return per unit of downside risk	2.80	2.90	-0.11
Omega ratio Gain probability vs. loss probability	1.35	1.38	-0.03
Calmar ratio Return relative to maximum drawdown	4.53	4.69	-0.16
Martin ratio Return relative to average drawdown	18.56	15.69	+2.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XMMO vs. PRN - Sharpe Ratio Comparison

The current XMMO Sharpe Ratio is 2.01, which is comparable to the PRN Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of XMMO and PRN, 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

	XMMO	PRN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.01	2.33	-0.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	0.81	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.89	0.77	+0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.52	+0.05

Drawdowns

XMMO vs. PRN - Drawdown Comparison

The maximum XMMO drawdown since its inception was -55.37%, smaller than the maximum PRN drawdown of -59.88%. Use the drawdown chart below to compare losses from any high point for XMMO and PRN.

Drawdown Indicators

	XMMO	PRN	Difference
Max Drawdown Largest peak-to-trough decline	-55.37%	-59.88%	+4.51%
Max Drawdown (1Y) Largest decline over 1 year	-8.34%	-14.15%	+5.81%
Max Drawdown (3Y) Largest decline over 3 years	-24.93%	-30.78%	+5.85%
Max Drawdown (5Y) Largest decline over 5 years	-27.91%	-34.84%	+6.93%
Max Drawdown (10Y) Largest decline over 10 years	-36.74%	-36.27%	-0.47%
Current Drawdown Current decline from peak	0.00%	-1.05%	+1.05%
Average Drawdown Average peak-to-trough decline	-9.45%	-10.84%	+1.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	4.23%	-2.19%

Volatility

XMMO vs. PRN - Volatility Comparison

The current volatility for Invesco S&P MidCap Momentum ETF (XMMO) is 7.82%, while Invesco DWA Industrials Momentum ETF (PRN) has a volatility of 10.97%. This indicates that XMMO experiences smaller price fluctuations and is considered to be less risky than PRN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XMMO	PRN	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.82%	10.97%	-3.15%
Volatility (6M) Calculated over the trailing 6-month period	15.59%	23.41%	-7.82%
Volatility (1Y) Calculated over the trailing 1-year period	18.71%	28.66%	-9.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.45%	25.04%	-3.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.27%	24.17%	-1.90%

XMMO vs. PRN - Expense Ratio Comparison

XMMO has a 0.35% expense ratio, which is lower than PRN's 0.60% expense ratio.

Dividends

XMMO vs. PRN - Dividend Comparison

XMMO's dividend yield for the trailing twelve months is around 0.61%, more than PRN's 0.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PRN Invesco DWA Industrials Momentum ETF	0.11%	0.17%	0.39%	0.52%	0.82%	0.11%	0.10%	0.42%	0.29%	0.60%	0.57%	0.44%
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

Can I hold both XMMO and PRN in my portfolio?

XMMO and PRN have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XMMO or PRN?

PRN has higher volatility (10.97%) compared to XMMO (7.82%). In terms of maximum drawdown, XMMO dropped -55.37% vs PRN's -59.88%.

Which ETF is better, XMMO or PRN?

On 10-year performance, XMMO leads with 19.66% vs 18.44% for PRN. On fees, XMMO is cheaper at 0.35% per year. On volatility, XMMO has been the lower-risk option at 7.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XMMO or PRN?

Over the 10-year period, XMMO has performed better with a 19.66% return vs 18.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XMMO or PRN?

XMMO is cheaper with a 0.35% expense ratio, compared with 0.60% for PRN.

Which ETF pays a higher dividend yield, XMMO or PRN?

XMMO has the higher dividend yield at 0.61%, compared with 0.11% for PRN.

What is the main difference between XMMO and PRN?

XMMO tracks S&P MidCap 400 Momentum Index, while PRN tracks DWA Industrials Technical Leaders Index. Their fees differ too: 0.35% for XMMO and 0.60% for PRN.

Which has better risk-adjusted returns?

PRN currently has the higher Sharpe Ratio (2.33 vs 2.01), 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.