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XMMO vs. RSP
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XMMO vs. RSP

Last updated Aug 4, 2026
Documentation

XMMO (Invesco S&P MidCap Momentum ETF) and RSP (Invesco S&P 500 Equal Weight ETF) are both exchange-traded funds - XMMO is a Momentum fund tracking the S&P MidCap 400 Momentum Index, while RSP is a S&P 500 fund tracking the S&P 500 Equal Weight Index. Both are passively managed. Over the past 10 years, XMMO returned 18.17%/yr vs 11.89%/yr for RSP. Their correlation of 0.84 means they have usually moved in the same direction. XMMO charges 0.35%/yr vs 0.20%/yr for RSP.

Performance

XMMO vs. RSP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P MidCap Momentum ETF (XMMO) and Invesco S&P 500 Equal Weight ETF (RSP). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XMMO achieves a 13.32% return, which is significantly lower than RSP's 14.26% return. Over the past 10 years, XMMO has outperformed RSP with an annualized return of 18.17%, while RSP has yielded a comparatively lower 11.89% annualized return.

XMMO

1D
1.37%
1M
-4.13%
6M
10.87%
YTD
13.32%
1Y
22.21%
3Y*
24.75%
5Y*
13.53%
10Y*
18.17%
ALL TIME*
12.18%

RSP

1D
0.98%
1M
1.02%
6M
9.94%
YTD
14.26%
1Y
21.56%
3Y*
14.65%
5Y*
9.15%
10Y*
11.89%
ALL TIME*
11.34%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

RSP

Invesco S&P 500 Equal Weight ETF
$1.90B$1.83B$2.07B

XMMO

Invesco S&P MidCap Momentum ETF
$60.28M$71.43M$67.26M

XMMO vs. RSP - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XMMO
Invesco S&P MidCap Momentum ETF		13.32%13.04%38.03%20.39%-16.02%16.69%29.17%36.78%6.12%37.18%
RSP
Invesco S&P 500 Equal Weight ETF		14.26%11.21%12.79%13.70%-11.62%29.41%12.66%28.91%-7.84%18.52%

Correlation

The correlation between XMMO and RSP is 0.60, 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.

0.60

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

0.76

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

0.82

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

0.80

Correlation (All Time)
Calculated using the full available price history since Mar 3, 2005

0.84

Over the past year, the correlation between XMMO and RSP has dropped to 0.60 - well below their long-term average of 0.84, suggesting their price drivers have been diverging.

XMMO vs. RSP - Sectors Allocation Comparison

Sectors
XMMO
RSP

Industrials

37.0%
14.6%

Technology

12.9%
16.9%

Basic Materials

10.2%
4.6%

Energy

8.4%
4.2%

Healthcare

8.1%
11.8%

Real Estate

7.2%
6.0%

Utilities

6.0%
6.6%

Consumer Cyclical

5.0%
9.5%

Financial Services

2.9%
14.8%

Communication Services

1.7%
3.3%

Consumer Defensive

0.5%
6.2%

Industrials

XMMO
37.0%
RSP
14.6%

Technology

XMMO
12.9%
RSP
16.9%

Basic Materials

XMMO
10.2%
RSP
4.6%

Energy

XMMO
8.4%
RSP
4.2%

Healthcare

XMMO
8.1%
RSP
11.8%

Real Estate

XMMO
7.2%
RSP
6.0%

Utilities

XMMO
6.0%
RSP
6.6%

Consumer Cyclical

XMMO
5.0%
RSP
9.5%

Financial Services

XMMO
2.9%
RSP
14.8%

Communication Services

XMMO
1.7%
RSP
3.3%

Consumer Defensive

XMMO
0.5%
RSP
6.2%

Compare stocks, funds, or ETFs

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

Invesco S&P MidCap Momentum ETF

Invesco S&P 500 Equal Weight ETF

Often compared with XMMO:
XMMO vs. SPMOXMMO vs. VOOXMMO vs. XMHQXMMO vs. MTUMXMMO vs. QMOMXMMO vs. FMTMXMMO vs. XSMO
Often compared with RSP:
RSP vs. SPYRSP vs. VOORSP vs. VTIRSP vs. FXAIXRSP vs. IVVRSP vs. EUSARSP vs. GSEW

Return for Risk

XMMO vs. RSP — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
XMMO
XMMO Risk / Return Rank: 4444
Overall Rank
XMMO Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
XMMO Sortino Ratio Rank: 4141
Sortino Ratio Rank
XMMO Omega Ratio Rank: 4040
Omega Ratio Rank
XMMO Calmar Ratio Rank: 4444
Calmar Ratio Rank
XMMO Martin Ratio Rank: 5555
Martin Ratio Rank
RSP
RSP Risk / Return Rank: 7979
Overall Rank
RSP Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
RSP Sortino Ratio Rank: 8181
Sortino Ratio Rank
RSP Omega Ratio Rank: 7777
Omega Ratio Rank
RSP Calmar Ratio Rank: 7777
Calmar Ratio Rank
RSP Martin Ratio Rank: 8181
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.

XMMO vs. RSP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P MidCap Momentum ETF (XMMO) and Invesco S&P 500 Equal Weight ETF (RSP). 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.

XMMORSPDifference
Sharpe ratioReturn per unit of total volatility
1.04
1.85

-0.81

Sortino ratioReturn per unit of downside risk
1.53
2.68

-1.15

Omega ratioGain probability vs. loss probability

1.19

1.33

-0.14

Calmar ratioReturn relative to maximum drawdown

1.60

2.76

-1.15

Martin ratioReturn relative to average drawdown

6.64

10.69

-4.04

XMMO vs. RSP - Sharpe Ratio Comparison

The current XMMO Sharpe Ratio is 1.04, which is lower than the RSP Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of XMMO and RSP, 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

XMMO vs. RSP - Drawdown Comparison

The maximum XMMO drawdown since its inception was -55.37%, smaller than the maximum RSP drawdown of -59.92%. Use the drawdown chart below to compare losses from any high point for XMMO and RSP.

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Drawdown Indicators

XMMORSPDifference

Max Drawdown

Largest peak-to-trough decline

-55.37%

-59.92%

+4.55%

Max Drawdown (1Y)

Largest decline over 1 year

-13.91%

-7.85%

-6.06%

Max Drawdown (3Y)

Largest decline over 3 years

-24.93%

-17.81%

-7.12%

Max Drawdown (5Y)

Largest decline over 5 years

-27.91%

-21.38%

-6.53%

Max Drawdown (10Y)

Largest decline over 10 years

-36.74%

-39.04%

+2.30%

Current Drawdown

Current decline from peak

-10.02%

-0.27%

-9.75%

Average Drawdown

Average peak-to-trough decline

-9.42%

-6.61%

-2.81%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.35%

2.02%

+1.33%

Volatility

XMMO vs. RSP - Volatility Comparison

Invesco S&P MidCap Momentum ETF (XMMO) has a higher volatility of 7.91% compared to Invesco S&P 500 Equal Weight ETF (RSP) at 2.96%. This indicates that XMMO's price experiences larger fluctuations and is considered to be riskier than RSP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XMMORSPDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.91%

2.96%

+4.95%

Volatility (6M)

Calculated over the trailing 6-month period

18.48%

8.63%

+9.85%

Volatility (1Y)

Calculated over the trailing 1-year period

21.51%

11.72%

+9.79%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.87%

16.17%

+5.70%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.44%

18.29%

+4.15%

XMMO vs. RSP - Expense Ratio Comparison

XMMO has a 0.35% expense ratio, which is higher than RSP's 0.20% expense ratio.

Dividends

XMMO vs. RSP - Dividend Comparison

XMMO's dividend yield for the trailing twelve months is around 0.62%, less than RSP's 1.48% yield.

PositionTTM20252024202320222021202020192018201720162015
RSP
Invesco S&P 500 Equal Weight ETF		1.48%1.64%1.52%1.64%1.82%1.28%1.64%1.69%2.02%1.52%1.20%1.70%
XMMO
Invesco S&P MidCap Momentum ETF		0.62%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 RSP have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

XMMO has higher volatility (7.91%) compared to RSP (2.96%). In terms of maximum drawdown, XMMO dropped -55.37% vs RSP's -59.92%.

On 10-year performance, XMMO leads with 18.17% vs 11.89% for RSP. On fees, RSP is cheaper at 0.20% per year. On volatility, RSP has been the lower-risk option at 2.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, XMMO has performed better with a 18.17% return vs 11.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

RSP is cheaper with a 0.20% expense ratio, compared with 0.35% for XMMO.

RSP has the higher dividend yield at 1.48%, compared with 0.62% for XMMO.

XMMO is categorized as Momentum, while RSP is S&P 500. XMMO tracks S&P MidCap 400 Momentum Index, while RSP tracks S&P 500 Equal Weight Index. Their fees differ too: 0.35% for XMMO and 0.20% for RSP.

RSP currently has the higher Sharpe Ratio (1.85 vs 1.04), 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.

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