XMMO vs. TIP
XMMO (Invesco S&P MidCap Momentum ETF) and TIP (iShares TIPS Bond ETF) are both exchange-traded funds - XMMO is a Momentum fund tracking the S&P MidCap 400 Momentum Index, while TIP is a Inflation-Protected Bonds fund tracking the ICE U.S. Treasury Inflation Linked Bond Index. Both are passively managed. Over the past 10 years, XMMO returned 19.50%/yr vs 2.45%/yr for TIP. At a correlation of -0.07, they often move in opposite directions. XMMO charges 0.35%/yr vs 0.18%/yr for TIP.
Performance
XMMO vs. TIP - Performance Comparison
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Returns By Period
In the year-to-date period, XMMO achieves a 19.66% return, which is significantly higher than TIP's 0.95% return. Over the past 10 years, XMMO has outperformed TIP with an annualized return of 19.50%, while TIP has yielded a comparatively lower 2.45% annualized return.
XMMO
- 1D
- 0.46%
- 1M
- -0.10%
- YTD
- 19.66%
- 6M
- 19.51%
- 1Y
- 31.14%
- 3Y*
- 29.91%
- 5Y*
- 15.72%
- 10Y*
- 19.50%
TIP
- 1D
- -0.11%
- 1M
- -0.90%
- YTD
- 0.95%
- 6M
- 0.97%
- 1Y
- 4.81%
- 3Y*
- 3.70%
- 5Y*
- 0.88%
- 10Y*
- 2.45%
XMMO vs. TIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XMMO Invesco S&P MidCap Momentum ETF | 19.66% | 13.04% | 38.03% | 20.39% | -16.02% | 16.69% | 29.17% | 36.78% | 6.12% | 37.18% |
TIP iShares TIPS Bond ETF | 0.95% | 6.77% | 1.65% | 3.80% | -12.26% | 5.68% | 10.84% | 8.35% | -1.42% | 2.92% |
Correlation
The correlation between XMMO and TIP is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2005 | -0.07 |
The correlation between XMMO and TIP shifts across timeframes, from -0.07 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XMMO vs. TIP — Risk / Return Rank
XMMO
TIP
XMMO vs. TIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P MidCap Momentum ETF (XMMO) and iShares TIPS Bond ETF (TIP). 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 | TIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.26 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.75 | 2.45 | +1.30 |
| Martin ratioReturn relative to average drawdown | 15.23 | 7.37 | +7.86 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XMMO | TIP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.63 | 1.43 | +0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | 0.14 | +0.59 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.88 | 0.43 | +0.45 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 0.57 | 0.00 |
Drawdowns
XMMO vs. TIP - Drawdown Comparison
The maximum XMMO drawdown since its inception was -55.37%, which is greater than TIP's maximum drawdown of -14.57%. Use the drawdown chart below to compare losses from any high point for XMMO and TIP.
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Drawdown Indicators
| XMMO | TIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.37% | -14.57% | -40.80% |
Max Drawdown (1Y)Largest decline over 1 year | -8.34% | -1.98% | -6.36% |
Max Drawdown (3Y)Largest decline over 3 years | -24.93% | -4.54% | -20.39% |
Max Drawdown (5Y)Largest decline over 5 years | -27.91% | -14.51% | -13.40% |
Max Drawdown (10Y)Largest decline over 10 years | -36.74% | -14.51% | -22.23% |
Current DrawdownCurrent decline from peak | -3.69% | -0.90% | -2.79% |
Average DrawdownAverage peak-to-trough decline | -9.45% | -3.43% | -6.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.07% | 0.65% | +1.42% |
Volatility
XMMO vs. TIP - Volatility Comparison
Invesco S&P MidCap Momentum ETF (XMMO) has a higher volatility of 7.70% compared to iShares TIPS Bond ETF (TIP) at 1.01%. This indicates that XMMO's price experiences larger fluctuations and is considered to be riskier than TIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XMMO | TIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.70% | 1.01% | +6.69% |
Volatility (6M)Calculated over the trailing 6-month period | 16.07% | 2.33% | +13.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.18% | 3.38% | +15.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.52% | 6.21% | +15.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.31% | 5.74% | +16.57% |
XMMO vs. TIP - Expense Ratio Comparison
XMMO has a 0.35% expense ratio, which is higher than TIP's 0.18% expense ratio.
Dividends
XMMO vs. TIP - Dividend Comparison
XMMO's dividend yield for the trailing twelve months is around 0.62%, less than TIP's 3.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TIP iShares TIPS Bond ETF | 3.78% | 3.46% | 2.52% | 2.73% | 6.96% | 4.28% | 1.17% | 1.75% | 2.71% | 2.07% | 1.48% | 0.34% |
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 TIP have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XMMO has higher volatility (7.70%) compared to TIP (1.01%). In terms of maximum drawdown, XMMO dropped -55.37% vs TIP's -14.57%.
On 10-year performance, XMMO leads with 19.50% vs 2.45% for TIP. On fees, TIP is cheaper at 0.18% per year. On volatility, TIP has been the lower-risk option at 1.01%. 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 19.50% return vs 2.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TIP is cheaper with a 0.18% expense ratio, compared with 0.35% for XMMO.
TIP has the higher dividend yield at 3.78%, compared with 0.62% for XMMO.
XMMO is categorized as Momentum, while TIP is Inflation-Protected Bonds. XMMO tracks S&P MidCap 400 Momentum Index, while TIP tracks ICE U.S. Treasury Inflation Linked Bond Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.35% for XMMO and 0.18% for TIP.
XMMO currently has the higher Sharpe Ratio (1.63 vs 1.43), 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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