PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
XMVM vs. PXI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XMVM vs. PXI

Last updated Jul 17, 2026
Documentation

XMVM (Invesco S&P MidCap Value with Momentum ETF) and PXI (Invesco DWA Energy Momentum ETF) are both Momentum funds from Invesco - XMVM tracks the S&P MidCap 400 High Momentum Value Index while PXI tracks the Dorsey Wright Energy Technical Leaders Index. Both are passively managed. Over the past 10 years, XMVM returned 12.11%/yr vs 5.99%/yr for PXI. A 0.64 correlation means they provide meaningful diversification when combined. XMVM charges 0.39%/yr vs 0.60%/yr for PXI.

Performance

XMVM vs. PXI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P MidCap Value with Momentum ETF (XMVM) and Invesco DWA Energy Momentum ETF (PXI). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, XMVM achieves a 16.49% return, which is significantly lower than PXI's 29.33% return. Over the past 10 years, XMVM has outperformed PXI with an annualized return of 12.11%, while PXI has yielded a comparatively lower 5.99% annualized return.

XMVM

1D
1.85%
1M
4.62%
6M
12.27%
YTD
16.49%
1Y
33.46%
3Y*
18.58%
5Y*
13.33%
10Y*
12.11%

PXI

1D
0.36%
1M
4.93%
6M
21.82%
YTD
29.33%
1Y
36.87%
3Y*
14.84%
5Y*
20.30%
10Y*
5.99%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XMVM vs. PXI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XMVM
Invesco S&P MidCap Value with Momentum ETF		16.49%18.46%11.73%16.31%-8.21%35.15%5.68%30.38%-9.62%2.79%
PXI
Invesco DWA Energy Momentum ETF		29.33%3.86%0.76%5.48%45.85%75.05%-35.91%1.67%-27.56%-8.42%

Correlation

The correlation between XMVM and PXI is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.23

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

0.49

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

0.56

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

0.61

Correlation (All Time)
Calculated using the full available price history since Oct 12, 2006

0.64

Over the past year, the correlation between XMVM and PXI has dropped to 0.23 - well below their long-term average of 0.64, suggesting their price drivers have been diverging.

XMVM vs. PXI - Sectors Allocation Comparison

Sectors
XMVM
PXI

Financial Services

41.9%
0.3%

Consumer Cyclical

15.0%

-

Utilities

9.5%

-

Industrials

8.8%
0.9%

Energy

8.0%
95.1%

Consumer Defensive

7.1%

-

Real Estate

4.2%

-

Technology

4.0%

-

Communication Services

0.9%

-

Basic Materials

0.8%
4.9%

Healthcare

0.7%

-

Financial Services

XMVM
41.9%
PXI
0.3%

Consumer Cyclical

XMVM
15.0%
PXI

-

Utilities

XMVM
9.5%
PXI

-

Industrials

XMVM
8.8%
PXI
0.9%

Energy

XMVM
8.0%
PXI
95.1%

Consumer Defensive

XMVM
7.1%
PXI

-

Real Estate

XMVM
4.2%
PXI

-

Technology

XMVM
4.0%
PXI

-

Communication Services

XMVM
0.9%
PXI

-

Basic Materials

XMVM
0.8%
PXI
4.9%

Healthcare

XMVM
0.7%
PXI

-

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 Value with Momentum ETF

Invesco DWA Energy Momentum ETF

Often compared with XMVM:
XMVM vs. AVUVXMVM vs. MDYXMVM vs. RFVXMVM vs. RWKXMVM vs. SYLDXMVM vs. MDYVXMVM vs. MDYG
Often compared with PXI:
PXI vs. SXCPXI vs. SPMOPXI vs. ENFRPXI vs. CLSEPXI vs. XOPPXI vs. XEG.TOPXI vs. FENY

Return for Risk

XMVM vs. PXI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XMVM
XMVM Risk / Return Rank: 8484
Overall Rank
XMVM Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
XMVM Sortino Ratio Rank: 8989
Sortino Ratio Rank
XMVM Omega Ratio Rank: 8585
Omega Ratio Rank
XMVM Calmar Ratio Rank: 8484
Calmar Ratio Rank
XMVM Martin Ratio Rank: 7777
Martin Ratio Rank
PXI
PXI Risk / Return Rank: 6161
Overall Rank
PXI Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
PXI Sortino Ratio Rank: 5757
Sortino Ratio Rank
PXI Omega Ratio Rank: 5454
Omega Ratio Rank
PXI Calmar Ratio Rank: 7474
Calmar Ratio Rank
PXI Martin Ratio Rank: 5959
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.

XMVM vs. PXI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P MidCap Value with Momentum ETF (XMVM) and Invesco DWA Energy Momentum ETF (PXI). 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.

XMVMPXIDifference
Sharpe ratioReturn per unit of total volatility
2.27
1.66

+0.60

Sortino ratioReturn per unit of downside risk
3.29
2.20

+1.09

Omega ratioGain probability vs. loss probability

1.41

1.27

+0.13

Calmar ratioReturn relative to maximum drawdown

3.66

2.99

+0.68

Martin ratioReturn relative to average drawdown

11.45

8.17

+3.28

XMVM vs. PXI - Sharpe Ratio Comparison

The current XMVM Sharpe Ratio is 2.27, which is higher than the PXI Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of XMVM and PXI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

XMVM vs. PXI - Drawdown Comparison

The maximum XMVM drawdown since its inception was -62.83%, smaller than the maximum PXI drawdown of -85.08%. Use the drawdown chart below to compare losses from any high point for XMVM and PXI.

Loading charts...

Drawdown Indicators

XMVMPXIDifference

Max Drawdown

Largest peak-to-trough decline

-62.83%

-85.08%

+22.25%

Max Drawdown (1Y)

Largest decline over 1 year

-9.18%

-12.40%

+3.22%

Max Drawdown (3Y)

Largest decline over 3 years

-24.12%

-30.74%

+6.62%

Max Drawdown (5Y)

Largest decline over 5 years

-24.12%

-33.47%

+9.35%

Max Drawdown (10Y)

Largest decline over 10 years

-45.07%

-79.55%

+34.48%

Current Drawdown

Current decline from peak

0.00%

-5.78%

+5.78%

Average Drawdown

Average peak-to-trough decline

-10.22%

-29.31%

+19.09%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.93%

4.52%

-1.59%

Volatility

XMVM vs. PXI - Volatility Comparison

The current volatility for Invesco S&P MidCap Value with Momentum ETF (XMVM) is 3.35%, while Invesco DWA Energy Momentum ETF (PXI) has a volatility of 6.64%. This indicates that XMVM experiences smaller price fluctuations and is considered to be less risky than PXI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

XMVMPXIDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.35%

6.64%

-3.29%

Volatility (6M)

Calculated over the trailing 6-month period

9.57%

17.57%

-8.00%

Volatility (1Y)

Calculated over the trailing 1-year period

14.83%

22.32%

-7.49%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.34%

33.07%

-11.73%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.73%

36.97%

-14.24%

XMVM vs. PXI - Expense Ratio Comparison

XMVM has a 0.39% expense ratio, which is lower than PXI's 0.60% expense ratio.

Dividends

XMVM vs. PXI - Dividend Comparison

XMVM's dividend yield for the trailing twelve months is around 1.80%, more than PXI's 1.27% yield.

PositionTTM20252024202320222021202020192018201720162015
PXI
Invesco DWA Energy Momentum ETF		1.27%1.81%1.52%1.82%3.14%0.57%1.72%2.80%0.93%0.80%0.73%2.07%
XMVM
Invesco S&P MidCap Value with Momentum ETF		1.80%2.07%1.43%1.57%1.76%1.10%1.37%1.73%2.87%2.22%2.27%2.58%

Frequently Asked Questions

XMVM and PXI have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

PXI has higher volatility (6.64%) compared to XMVM (3.35%). In terms of maximum drawdown, XMVM dropped -62.83% vs PXI's -85.08%.

On 10-year performance, XMVM leads with 12.11% vs 5.99% for PXI. On fees, XMVM is cheaper at 0.39% per year. On volatility, XMVM has been the lower-risk option at 3.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, XMVM has performed better with a 12.11% return vs 5.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

XMVM is cheaper with a 0.39% expense ratio, compared with 0.60% for PXI.

XMVM has the higher dividend yield at 1.80%, compared with 1.27% for PXI.

XMVM tracks S&P MidCap 400 High Momentum Value Index, while PXI tracks Dorsey Wright Energy Technical Leaders Index. Their fees differ too: 0.39% for XMVM and 0.60% for PXI.

XMVM currently has the higher Sharpe Ratio (2.27 vs 1.66), 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.

Portfolio Optimizer

Find the right allocation for XMVM and PXI

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer