XMMO vs. VTIVX

Last updated Jun 9, 2026

XMMO (Invesco S&P MidCap Momentum ETF) and VTIVX (Vanguard Target Retirement 2045 Fund) are both funds - XMMO is a Momentum fund tracking the S&P MidCap 400 Momentum Index, while VTIVX is a Target Retirement Date fund managed by Vanguard. Over the past 10 years, XMMO returned 19.50%/yr vs 10.91%/yr for VTIVX. Their correlation of 0.84 suggests significant overlap in exposure. XMMO charges 0.35%/yr vs 0.08%/yr for VTIVX.

Performance

XMMO vs. VTIVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P MidCap Momentum ETF (XMMO) and Vanguard Target Retirement 2045 Fund (VTIVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XMMO achieves a 19.66% return, which is significantly higher than VTIVX's 7.80% return. Over the past 10 years, XMMO has outperformed VTIVX with an annualized return of 19.50%, while VTIVX has yielded a comparatively lower 10.91% 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%

VTIVX

• 1D: -2.58%
• 1M: -0.77%
• YTD: 7.80%
• 6M: 8.61%
• 1Y: 21.54%
• 3Y*: 17.21%
• 5Y*: 8.80%
• 10Y*: 10.91%

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

XMMO vs. VTIVX - 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%
VTIVX Vanguard Target Retirement 2045 Fund	7.80%	20.01%	13.68%	19.72%	-17.38%	16.16%	16.31%	24.94%	-7.89%	19.16%

Correlation

The correlation between XMMO and VTIVX is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Mar 3, 2005	0.84

The correlation between XMMO and VTIVX has been stable across timeframes, ranging from 0.74 to 0.84 - a consistent structural relationship.

XMMO vs. VTIVX - Sectors Allocation Comparison

Sectors	XMMO	VTIVX
Industrials	41.1%	12.3%
Technology	16.7%	27.4%
Energy	7.7%	4.3%
Basic Materials	7.2%	4.3%
Healthcare	6.3%	8.3%
Real Estate	6.1%	2.5%
Utilities	5.8%	2.7%
Consumer Cyclical	4.6%	9.4%
Financial Services	2.4%	16.1%
Communication Services	1.6%	8.0%
Consumer Defensive	0.5%	4.8%

Return for Risk

XMMO vs. VTIVX — Risk / Return Rank

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

XMMO

XMMO Risk / Return Rank: 64
XMMO Sharpe Ratio Rank: 53
XMMO Sortino Ratio Rank: 52
XMMO Omega Ratio Rank: 52
XMMO Calmar Ratio Rank: 80
XMMO Martin Ratio Rank: 83

VTIVX

VTIVX Risk / Return Rank: 53
VTIVX Sharpe Ratio Rank: 52
VTIVX Sortino Ratio Rank: 48
VTIVX Omega Ratio Rank: 51
VTIVX Calmar Ratio Rank: 53
VTIVX Martin Ratio Rank: 62

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. VTIVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P MidCap Momentum ETF (XMMO) and Vanguard Target Retirement 2045 Fund (VTIVX). 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	VTIVX	Difference
Sharpe ratio: Return per unit of total volatility	1.63	2.06	-0.43
Sortino ratio: Return per unit of downside risk	2.29	2.83	-0.54
Omega ratio: Gain probability vs. loss probability	1.29	1.38	-0.09
Calmar ratio: Return relative to maximum drawdown	3.75	2.69	+1.06
Martin ratio: Return relative to average drawdown	15.23	11.85	+3.37
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. VTIVX - Sharpe Ratio Comparison

The current XMMO Sharpe Ratio is 1.63, which is comparable to the VTIVX Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of XMMO and VTIVX, 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	VTIVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.63	2.06	-0.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	0.65	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.88	0.74	+0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.54	+0.02

Drawdowns

XMMO vs. VTIVX - Drawdown Comparison

The maximum XMMO drawdown since its inception was -55.37%, which is greater than VTIVX's maximum drawdown of -51.69%. Use the drawdown chart below to compare losses from any high point for XMMO and VTIVX.

Drawdown Indicators

	XMMO	VTIVX	Difference
Max Drawdown Largest peak-to-trough decline	-55.37%	-51.69%	-3.68%
Max Drawdown (1Y) Largest decline over 1 year	-8.34%	-8.30%	-0.04%
Max Drawdown (3Y) Largest decline over 3 years	-24.93%	-13.40%	-11.53%
Max Drawdown (5Y) Largest decline over 5 years	-27.91%	-25.10%	-2.81%
Max Drawdown (10Y) Largest decline over 10 years	-36.74%	-31.42%	-5.32%
Current Drawdown Current decline from peak	-3.69%	-2.95%	-0.74%
Average Drawdown Average peak-to-trough decline	-9.45%	-6.33%	-3.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.07%	1.88%	+0.19%

Volatility

XMMO vs. VTIVX - Volatility Comparison

Invesco S&P MidCap Momentum ETF (XMMO) has a higher volatility of 7.70% compared to Vanguard Target Retirement 2045 Fund (VTIVX) at 3.88%. This indicates that XMMO's price experiences larger fluctuations and is considered to be riskier than VTIVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XMMO	VTIVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.70%	3.88%	+3.82%
Volatility (6M) Calculated over the trailing 6-month period	16.07%	8.81%	+7.26%
Volatility (1Y) Calculated over the trailing 1-year period	19.18%	10.85%	+8.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.52%	13.54%	+7.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.31%	14.81%	+7.50%

XMMO vs. VTIVX - Expense Ratio Comparison

XMMO has a 0.35% expense ratio, which is higher than VTIVX's 0.08% expense ratio.

Dividends

XMMO vs. VTIVX - Dividend Comparison

XMMO's dividend yield for the trailing twelve months is around 0.62%, less than VTIVX's 2.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VTIVX Vanguard Target Retirement 2045 Fund	2.31%	2.50%	2.36%	2.27%	2.75%	15.40%	1.90%	2.23%	2.52%	0.04%	2.47%	3.29%
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

Can I hold both XMMO and VTIVX in my portfolio?

XMMO and VTIVX have a correlation of 0.74, 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 VTIVX?

XMMO has higher volatility (7.70%) compared to VTIVX (3.88%). In terms of maximum drawdown, XMMO dropped -55.37% vs VTIVX's -51.69%.

Which has better risk-adjusted returns?

VTIVX currently has the higher Sharpe Ratio (2.06 vs 1.63), 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.