XMVM vs. QQQ

Last updated Jun 4, 2026

XMVM (Invesco S&P MidCap Value with Momentum ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - XMVM is a Momentum fund tracking the S&P MidCap 400 High Momentum Value Index, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, XMVM returned 11.74%/yr vs 21.94%/yr for QQQ. A 0.65 correlation means they provide meaningful diversification when combined. XMVM charges 0.39%/yr vs 0.18%/yr for QQQ.

Performance

XMVM vs. QQQ - 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 QQQ ETF (QQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XMVM achieves a 8.00% return, which is significantly lower than QQQ's 21.30% return. Over the past 10 years, XMVM has underperformed QQQ with an annualized return of 11.74%, while QQQ has yielded a comparatively higher 21.94% annualized return.

XMVM

• 1D: -0.51%
• 1M: 0.18%
• YTD: 8.00%
• 6M: 10.89%
• 1Y: 29.16%
• 3Y*: 18.89%
• 5Y*: 9.63%
• 10Y*: 11.74%

QQQ

• 1D: -0.26%
• 1M: 10.60%
• YTD: 21.30%
• 6M: 19.66%
• 1Y: 41.82%
• 3Y*: 28.78%
• 5Y*: 17.97%
• 10Y*: 21.94%

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

XMVM vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XMVM Invesco S&P MidCap Value with Momentum ETF	8.00%	18.46%	11.73%	16.31%	-8.21%	35.15%	5.68%	30.38%	-9.62%	2.79%
QQQ Invesco QQQ ETF	21.30%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-0.13%	32.66%

Correlation

The correlation between XMVM and QQQ is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (10Y) Calculated over the trailing 10-year period	0.53
Correlation (All Time) Calculated using the full available price history since Mar 4, 2005	0.65

Over the past year, the correlation between XMVM and QQQ has dropped to 0.39 - well below their long-term average of 0.65, suggesting their price drivers have been diverging.

XMVM vs. QQQ - Sectors Allocation Comparison

Sectors	XMVM	QQQ
Financial Services	41.8%	0.2%
Consumer Cyclical	14.5%	12.3%
Utilities	9.9%	1.4%
Industrials	8.6%	2.8%
Energy	8.3%	0.6%
Consumer Defensive	7.3%	7.7%
Real Estate	4.3%	0.1%
Technology	3.6%	53.8%
Communication Services	1.0%	15.8%
Basic Materials	0.8%	1.1%
Healthcare	0.7%	4.2%

Return for Risk

XMVM vs. QQQ — Risk / Return Rank

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

XMVM

XMVM Risk / Return Rank: 57
XMVM Sharpe Ratio Rank: 55
XMVM Sortino Ratio Rank: 57
XMVM Omega Ratio Rank: 54
XMVM Calmar Ratio Rank: 64
XMVM Martin Ratio Rank: 56

QQQ

QQQ Risk / Return Rank: 73
QQQ Sharpe Ratio Rank: 79
QQQ Sortino Ratio Rank: 75
QQQ Omega Ratio Rank: 74
QQQ Calmar Ratio Rank: 69
QQQ Martin Ratio Rank: 71

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. QQQ - 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 QQQ ETF (QQQ). 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.

	XMVM	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	1.91	2.64	-0.73
Sortino ratio: Return per unit of downside risk	2.77	3.45	-0.68
Omega ratio: Gain probability vs. loss probability	1.34	1.45	-0.11
Calmar ratio: Return relative to maximum drawdown	3.19	3.51	-0.32
Martin ratio: Return relative to average drawdown	9.86	13.49	-3.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XMVM vs. QQQ - Sharpe Ratio Comparison

The current XMVM Sharpe Ratio is 1.91, which is comparable to the QQQ Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of XMVM and QQQ, 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

	XMVM	QQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.91	2.64	-0.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	0.81	-0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	0.99	-0.47
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.41	+0.02

Drawdowns

XMVM vs. QQQ - Drawdown Comparison

The maximum XMVM drawdown since its inception was -62.83%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for XMVM and QQQ.

Drawdown Indicators

	XMVM	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-62.83%	-82.97%	+20.14%
Max Drawdown (1Y) Largest decline over 1 year	-9.18%	-11.96%	+2.78%
Max Drawdown (3Y) Largest decline over 3 years	-24.12%	-22.77%	-1.35%
Max Drawdown (5Y) Largest decline over 5 years	-24.12%	-35.12%	+11.00%
Max Drawdown (10Y) Largest decline over 10 years	-45.07%	-35.12%	-9.95%
Current Drawdown Current decline from peak	-1.21%	-0.26%	-0.95%
Average Drawdown Average peak-to-trough decline	-10.27%	-32.79%	+22.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.97%	3.11%	-0.14%

Volatility

XMVM vs. QQQ - Volatility Comparison

The current volatility for Invesco S&P MidCap Value with Momentum ETF (XMVM) is 3.38%, while Invesco QQQ ETF (QQQ) has a volatility of 4.49%. This indicates that XMVM experiences smaller price fluctuations and is considered to be less risky than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XMVM	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.38%	4.49%	-1.11%
Volatility (6M) Calculated over the trailing 6-month period	9.77%	12.10%	-2.33%
Volatility (1Y) Calculated over the trailing 1-year period	15.37%	15.94%	-0.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.54%	22.38%	-0.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.80%	22.29%	+0.51%

XMVM vs. QQQ - Expense Ratio Comparison

XMVM has a 0.39% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

XMVM vs. QQQ - Dividend Comparison

XMVM's dividend yield for the trailing twelve months is around 1.96%, more than QQQ's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQQ Invesco QQQ ETF	0.38%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%
XMVM Invesco S&P MidCap Value with Momentum ETF	1.96%	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

Can I hold both XMVM and QQQ in my portfolio?

XMVM and QQQ have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XMVM or QQQ?

QQQ has higher volatility (4.49%) compared to XMVM (3.38%). In terms of maximum drawdown, XMVM dropped -62.83% vs QQQ's -82.97%.

Which ETF is better, XMVM or QQQ?

On 10-year performance, QQQ leads with 21.94% vs 11.74% for XMVM. On fees, QQQ is cheaper at 0.18% per year. On volatility, XMVM has been the lower-risk option at 3.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XMVM or QQQ?

Over the 10-year period, QQQ has performed better with a 21.94% return vs 11.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XMVM or QQQ?

QQQ is cheaper with a 0.18% expense ratio, compared with 0.39% for XMVM.

Which ETF pays a higher dividend yield, XMVM or QQQ?

XMVM has the higher dividend yield at 1.96%, compared with 0.38% for QQQ.

What is the main difference between XMVM and QQQ?

XMVM is categorized as Momentum, while QQQ is Nasdaq-100. XMVM tracks S&P MidCap 400 High Momentum Value Index, while QQQ tracks NASDAQ-100 Index. Their fees differ too: 0.39% for XMVM and 0.18% for QQQ.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (2.64 vs 1.91), 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.