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XMMO vs. WM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XMMO vs. WM

Last updated Jun 14, 2026

XMMO (Invesco S&P MidCap Momentum ETF) is Momentum fund tracking the S&P MidCap 400 Momentum Index, while WM (Waste Management, Inc.) is a stock. Over the past 10 years, XMMO returned 19.95%/yr vs 15.36%/yr for WM. At a 0.46 correlation, their price movements are largely independent.

Performance

XMMO vs. WM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P MidCap Momentum ETF (XMMO) and Waste Management, Inc. (WM). 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 22.77% return, which is significantly higher than WM's 0.71% return. Over the past 10 years, XMMO has outperformed WM with an annualized return of 19.95%, while WM has yielded a comparatively lower 15.36% annualized return.

XMMO

1D
0.96%
1M
0.41%
YTD
22.77%
6M
22.33%
1Y
37.93%
3Y*
30.62%
5Y*
15.91%
10Y*
19.95%

WM

1D
0.30%
1M
0.26%
YTD
0.71%
6M
2.63%
1Y
-5.72%
3Y*
12.33%
5Y*
11.14%
10Y*
15.36%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XMMO vs. WM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XMMO
Invesco S&P MidCap Momentum ETF		22.77%13.04%38.03%20.39%-16.02%16.69%29.17%36.78%6.12%37.18%
WM
Waste Management, Inc.		0.71%10.50%14.28%16.20%-4.49%43.82%5.46%30.45%5.32%24.46%

Correlation

The correlation between XMMO and WM is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

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

-0.11

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

0.13

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

0.25

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

0.33

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

0.46

The correlation between XMMO and WM shifts across timeframes, from -0.11 (1 year) to 0.46 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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Invesco S&P MidCap Momentum ETF

Waste Management, Inc.

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Return for Risk

XMMO vs. WM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XMMO
XMMO Risk / Return Rank: 7474
Overall Rank
XMMO Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
XMMO Sortino Ratio Rank: 6565
Sortino Ratio Rank
XMMO Omega Ratio Rank: 6363
Omega Ratio Rank
XMMO Calmar Ratio Rank: 8888
Calmar Ratio Rank
XMMO Martin Ratio Rank: 8989
Martin Ratio Rank
WM
WM Risk / Return Rank: 2828
Overall Rank
WM Sharpe Ratio Rank: 2929
Sharpe Ratio Rank
WM Sortino Ratio Rank: 2525
Sortino Ratio Rank
WM Omega Ratio Rank: 2525
Omega Ratio Rank
WM Calmar Ratio Rank: 3131
Calmar Ratio Rank
WM Martin Ratio Rank: 2828
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. WM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P MidCap Momentum ETF (XMMO) and Waste Management, Inc. (WM). 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.

XMMOWMDifference
Sharpe ratioReturn per unit of total volatility
1.86
-0.32

+2.18

Sortino ratioReturn per unit of downside risk
2.58
-0.32

+2.90

Omega ratioGain probability vs. loss probability

1.33

0.96

+0.37

Calmar ratioReturn relative to maximum drawdown

4.41

-0.36

+4.77

Martin ratioReturn relative to average drawdown

17.54

-0.79

+18.34

XMMO vs. WM - Sharpe Ratio Comparison

The current XMMO Sharpe Ratio is 1.86, which is higher than the WM Sharpe Ratio of -0.32. The chart below compares the historical Sharpe Ratios of XMMO and WM, 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. WM - Drawdown Comparison

The maximum XMMO drawdown since its inception was -55.37%, smaller than the maximum WM drawdown of -77.85%. Use the drawdown chart below to compare losses from any high point for XMMO and WM.

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Drawdown Indicators

XMMOWMDifference

Max Drawdown

Largest peak-to-trough decline

-55.37%

-77.85%

+22.48%

Max Drawdown (1Y)

Largest decline over 1 year

-8.34%

-16.70%

+8.36%

Max Drawdown (3Y)

Largest decline over 3 years

-24.93%

-18.14%

-6.79%

Max Drawdown (5Y)

Largest decline over 5 years

-27.91%

-18.14%

-9.77%

Max Drawdown (10Y)

Largest decline over 10 years

-36.74%

-30.07%

-6.67%

Current Drawdown

Current decline from peak

-1.19%

-10.24%

+9.05%

Average Drawdown

Average peak-to-trough decline

-9.44%

-17.69%

+8.25%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.09%

7.58%

-5.49%

Volatility

XMMO vs. WM - Volatility Comparison

Invesco S&P MidCap Momentum ETF (XMMO) has a higher volatility of 9.07% compared to Waste Management, Inc. (WM) at 6.13%. This indicates that XMMO's price experiences larger fluctuations and is considered to be riskier than WM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XMMOWMDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.07%

6.13%

+2.94%

Volatility (6M)

Calculated over the trailing 6-month period

16.76%

14.08%

+2.68%

Volatility (1Y)

Calculated over the trailing 1-year period

19.74%

19.03%

+0.71%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.62%

18.62%

+3.00%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.35%

19.54%

+2.81%

Dividends

XMMO vs. WM - Dividend Comparison

XMMO's dividend yield for the trailing twelve months is around 0.61%, less than WM's 1.61% yield.

PositionTTM20252024202320222021202020192018201720162015
WM
Waste Management, Inc.		1.61%1.50%1.49%1.56%1.66%1.38%1.85%1.80%2.09%1.97%2.31%2.89%
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

XMMO and WM have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

XMMO has higher volatility (9.07%) compared to WM (6.13%). In terms of maximum drawdown, XMMO dropped -55.37% vs WM's -77.85%.

XMMO currently has the higher Sharpe Ratio (1.86 vs -0.32), 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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