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XMMO vs. VGLT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XMMO vs. VGLT

Last updated Jun 9, 2026

XMMO (Invesco S&P MidCap Momentum ETF) and VGLT (Vanguard Long-Term Treasury ETF) are both exchange-traded funds - XMMO is a Momentum fund tracking the S&P MidCap 400 Momentum Index, while VGLT is a Government Bonds fund tracking the Bloomberg U.S. Long Treasury Index. Both are passively managed. Over the past 10 years, XMMO returned 19.50%/yr vs -1.28%/yr for VGLT. At a correlation of -0.20, they often move in opposite directions. XMMO charges 0.35%/yr vs 0.03%/yr for VGLT.

Performance

XMMO vs. VGLT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P MidCap Momentum ETF (XMMO) and Vanguard Long-Term Treasury ETF (VGLT). 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 19.66% return, which is significantly higher than VGLT's -1.16% return. Over the past 10 years, XMMO has outperformed VGLT with an annualized return of 19.50%, while VGLT has yielded a comparatively lower -1.28% 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%

VGLT

1D
-0.40%
1M
-1.25%
YTD
-1.16%
6M
-1.18%
1Y
4.15%
3Y*
-0.94%
5Y*
-5.66%
10Y*
-1.28%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XMMO vs. VGLT - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
VGLT
Vanguard Long-Term Treasury ETF		-1.16%5.35%-6.28%3.27%-29.34%-4.98%17.57%14.30%-1.54%8.64%

Correlation

The correlation between XMMO and VGLT is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.22

Correlation (3Y)
Calculated over the trailing 3-year period

0.19

Correlation (5Y)
Calculated over the trailing 5-year period

0.05

Correlation (10Y)
Calculated over the trailing 10-year period

-0.06

Correlation (All Time)
Calculated using the full available price history since Nov 25, 2009

-0.20

The correlation between XMMO and VGLT shifts across timeframes, from -0.20 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.

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Invesco S&P MidCap Momentum ETF

Vanguard Long-Term Treasury ETF

Often compared with XMMO:
XMMO vs. SPMOXMMO vs. XMHQXMMO vs. VOOXMMO vs. MTUMXMMO vs. QMOMXMMO vs. SPGPXMMO vs. RFV
Often compared with VGLT:
VGLT vs. TLTVGLT vs. VGITVGLT vs. EDVVGLT vs. BNDVGLT vs. VCLTVGLT vs. BLVVGLT vs. SPTL

Return for Risk

XMMO vs. VGLT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XMMO
XMMO Risk / Return Rank: 6464
Overall Rank
XMMO Sharpe Ratio Rank: 5353
Sharpe Ratio Rank
XMMO Sortino Ratio Rank: 5252
Sortino Ratio Rank
XMMO Omega Ratio Rank: 5252
Omega Ratio Rank
XMMO Calmar Ratio Rank: 8080
Calmar Ratio Rank
XMMO Martin Ratio Rank: 8383
Martin Ratio Rank
VGLT
VGLT Risk / Return Rank: 1717
Overall Rank
VGLT Sharpe Ratio Rank: 1717
Sharpe Ratio Rank
VGLT Sortino Ratio Rank: 1717
Sortino Ratio Rank
VGLT Omega Ratio Rank: 1616
Omega Ratio Rank
VGLT Calmar Ratio Rank: 1717
Calmar Ratio Rank
VGLT Martin Ratio Rank: 1717
Martin Ratio Rank
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. VGLT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P MidCap Momentum ETF (XMMO) and Vanguard Long-Term Treasury ETF (VGLT). 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.

XMMOVGLTDifference
Sharpe ratioReturn per unit of total volatility
1.63
0.48

+1.15

Sortino ratioReturn per unit of downside risk
2.29
0.75

+1.54

Omega ratioGain probability vs. loss probability

1.29

1.08

+0.21

Calmar ratioReturn relative to maximum drawdown

3.75

0.60

+3.16

Martin ratioReturn relative to average drawdown

15.23

1.53

+13.70

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. VGLT - Sharpe Ratio Comparison

The current XMMO Sharpe Ratio is 1.63, which is higher than the VGLT Sharpe Ratio of 0.48. The chart below compares the historical Sharpe Ratios of XMMO and VGLT, 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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Sharpe Ratios by Period

XMMOVGLTDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.63

0.48

+1.15

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.73

-0.39

+1.12

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.88

-0.09

+0.97

Sharpe Ratio (All Time)

Calculated using the full available price history

0.57

0.18

+0.38

Drawdowns

XMMO vs. VGLT - Drawdown Comparison

The maximum XMMO drawdown since its inception was -55.37%, which is greater than VGLT's maximum drawdown of -46.18%. Use the drawdown chart below to compare losses from any high point for XMMO and VGLT.

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Drawdown Indicators

XMMOVGLTDifference

Max Drawdown

Largest peak-to-trough decline

-55.37%

-46.18%

-9.19%

Max Drawdown (1Y)

Largest decline over 1 year

-8.34%

-7.01%

-1.33%

Max Drawdown (3Y)

Largest decline over 3 years

-24.93%

-17.68%

-7.25%

Max Drawdown (5Y)

Largest decline over 5 years

-27.91%

-40.98%

+13.07%

Max Drawdown (10Y)

Largest decline over 10 years

-36.74%

-46.18%

+9.44%

Current Drawdown

Current decline from peak

-3.69%

-37.30%

+33.61%

Average Drawdown

Average peak-to-trough decline

-9.45%

-15.08%

+5.63%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.07%

2.72%

-0.65%

Volatility

XMMO vs. VGLT - Volatility Comparison

Invesco S&P MidCap Momentum ETF (XMMO) has a higher volatility of 7.70% compared to Vanguard Long-Term Treasury ETF (VGLT) at 2.50%. This indicates that XMMO's price experiences larger fluctuations and is considered to be riskier than VGLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XMMOVGLTDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.70%

2.50%

+5.20%

Volatility (6M)

Calculated over the trailing 6-month period

16.07%

5.96%

+10.11%

Volatility (1Y)

Calculated over the trailing 1-year period

19.18%

8.71%

+10.47%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.52%

14.57%

+6.95%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.31%

13.82%

+8.49%

XMMO vs. VGLT - Expense Ratio Comparison

XMMO has a 0.35% expense ratio, which is higher than VGLT's 0.03% expense ratio.

Dividends

XMMO vs. VGLT - Dividend Comparison

XMMO's dividend yield for the trailing twelve months is around 0.62%, less than VGLT's 4.64% yield.

PositionTTM20252024202320222021202020192018201720162015
VGLT
Vanguard Long-Term Treasury ETF		4.64%4.44%4.33%3.33%2.84%1.82%2.15%2.46%2.71%2.55%2.69%3.21%
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 VGLT have a correlation of 0.22, 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 VGLT (2.50%). In terms of maximum drawdown, XMMO dropped -55.37% vs VGLT's -46.18%.

On 10-year performance, XMMO leads with 19.50% vs -1.28% for VGLT. On fees, VGLT is cheaper at 0.03% per year. On volatility, VGLT has been the lower-risk option at 2.50%. 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 -1.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VGLT is cheaper with a 0.03% expense ratio, compared with 0.35% for XMMO.

VGLT has the higher dividend yield at 4.64%, compared with 0.62% for XMMO.

XMMO is categorized as Momentum, while VGLT is Government Bonds. XMMO tracks S&P MidCap 400 Momentum Index, while VGLT tracks Bloomberg U.S. Long Treasury Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.35% for XMMO and 0.03% for VGLT.

XMMO currently has the higher Sharpe Ratio (1.63 vs 0.48), 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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