XMVM vs. QQQA

Last updated Jun 4, 2026

XMVM (Invesco S&P MidCap Value with Momentum ETF) and QQQA (ProShares Nasdaq-100 Dorsey Wright Momentum ETF) are both exchange-traded funds - XMVM is a Momentum fund tracking the S&P MidCap 400 High Momentum Value Index, while QQQA is a Nasdaq-100 fund tracking the NASDAQ-100 Dorsey Wright Momentum Index - Benchmark TR Gross. Both are passively managed. Over the past 5 years, XMVM returned 9.63%/yr vs 14.74%/yr for QQQA. A 0.56 correlation means they provide meaningful diversification when combined. XMVM charges 0.39%/yr vs 0.58%/yr for QQQA.

Performance

XMVM vs. QQQA - 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 ProShares Nasdaq-100 Dorsey Wright Momentum ETF (QQQA). 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 QQQA's 65.37% 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%

QQQA

• 1D: 2.20%
• 1M: 23.31%
• YTD: 65.37%
• 6M: 67.98%
• 1Y: 88.43%
• 3Y*: 34.58%
• 5Y*: 14.74%
• 10Y*: —

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

XMVM vs. QQQA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XMVM Invesco S&P MidCap Value with Momentum ETF	8.00%	18.46%	11.73%	16.31%	-8.21%	6.06%
QQQA ProShares Nasdaq-100 Dorsey Wright Momentum ETF	65.37%	9.87%	16.17%	24.98%	-29.08%	8.43%

Correlation

The correlation between XMVM and QQQA is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (All Time) Calculated using the full available price history since May 21, 2021	0.56

The correlation between XMVM and QQQA shifts across timeframes, from 0.40 (1 year) to 0.56 (5 years), reflecting how their relationship changes across market environments.

XMVM vs. QQQA - Sectors Allocation Comparison

Sectors	XMVM	QQQA
Financial Services	41.8%	-
Consumer Cyclical	14.5%	4.2%
Utilities	9.9%	-
Industrials	8.6%	-
Energy	8.3%	9.1%
Consumer Defensive	7.3%	-
Real Estate	4.3%	-
Technology	3.6%	65.2%
Communication Services	1.0%	13.7%
Basic Materials	0.8%	-
Healthcare	0.7%	7.8%

Return for Risk

XMVM vs. QQQA — 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

QQQA

QQQA Risk / Return Rank: 90
QQQA Sharpe Ratio Rank: 92
QQQA Sortino Ratio Rank: 87
QQQA Omega Ratio Rank: 87
QQQA Calmar Ratio Rank: 92
QQQA Martin Ratio Rank: 92

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. QQQA - 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 ProShares Nasdaq-100 Dorsey Wright Momentum ETF (QQQA). 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	QQQA	Difference
Sharpe ratio: Return per unit of total volatility	1.91	3.41	-1.50
Sortino ratio: Return per unit of downside risk	2.77	4.00	-1.23
Omega ratio: Gain probability vs. loss probability	1.34	1.54	-0.21
Calmar ratio: Return relative to maximum drawdown	3.19	6.11	-2.92
Martin ratio: Return relative to average drawdown	9.86	22.85	-12.99
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. QQQA - Sharpe Ratio Comparison

The current XMVM Sharpe Ratio is 1.91, which is lower than the QQQA Sharpe Ratio of 3.41. The chart below compares the historical Sharpe Ratios of XMVM and QQQA, 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	QQQA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.91	3.41	-1.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	0.57	-0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.59	-0.16

Drawdowns

XMVM vs. QQQA - Drawdown Comparison

The maximum XMVM drawdown since its inception was -62.83%, which is greater than QQQA's maximum drawdown of -38.44%. Use the drawdown chart below to compare losses from any high point for XMVM and QQQA.

Drawdown Indicators

	XMVM	QQQA	Difference
Max Drawdown Largest peak-to-trough decline	-62.83%	-38.44%	-24.39%
Max Drawdown (1Y) Largest decline over 1 year	-9.18%	-14.54%	+5.36%
Max Drawdown (3Y) Largest decline over 3 years	-24.12%	-30.84%	+6.72%
Max Drawdown (5Y) Largest decline over 5 years	-24.12%	-38.44%	+14.32%
Max Drawdown (10Y) Largest decline over 10 years	-45.07%	—	—
Current Drawdown Current decline from peak	-1.21%	0.00%	-1.21%
Average Drawdown Average peak-to-trough decline	-10.27%	-15.68%	+5.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.97%	3.88%	-0.91%

Volatility

XMVM vs. QQQA - Volatility Comparison

The current volatility for Invesco S&P MidCap Value with Momentum ETF (XMVM) is 3.38%, while ProShares Nasdaq-100 Dorsey Wright Momentum ETF (QQQA) has a volatility of 10.17%. This indicates that XMVM experiences smaller price fluctuations and is considered to be less risky than QQQA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XMVM	QQQA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.38%	10.17%	-6.79%
Volatility (6M) Calculated over the trailing 6-month period	9.77%	22.18%	-12.41%
Volatility (1Y) Calculated over the trailing 1-year period	15.37%	26.05%	-10.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.54%	25.83%	-4.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.80%	25.77%	-2.97%

XMVM vs. QQQA - Expense Ratio Comparison

XMVM has a 0.39% expense ratio, which is lower than QQQA's 0.58% expense ratio.

Dividends

XMVM vs. QQQA - Dividend Comparison

XMVM's dividend yield for the trailing twelve months is around 1.96%, more than QQQA's 0.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQQA ProShares Nasdaq-100 Dorsey Wright Momentum ETF	0.06%	0.10%	0.09%	0.34%	0.28%	0.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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 QQQA in my portfolio?

XMVM and QQQA have a correlation of 0.40, 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 QQQA?

QQQA has higher volatility (10.17%) compared to XMVM (3.38%). In terms of maximum drawdown, XMVM dropped -62.83% vs QQQA's -38.44%.

Which ETF is better, XMVM or QQQA?

On 5-year performance, QQQA leads with 14.74% vs 9.63% for XMVM. On fees, XMVM is cheaper at 0.39% 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 QQQA?

Over the 5-year period, QQQA has performed better with a 14.74% return vs 9.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XMVM or QQQA?

XMVM is cheaper with a 0.39% expense ratio, compared with 0.58% for QQQA.

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

XMVM has the higher dividend yield at 1.96%, compared with 0.06% for QQQA.

What is the main difference between XMVM and QQQA?

XMVM is categorized as Momentum, while QQQA is Nasdaq-100. XMVM tracks S&P MidCap 400 High Momentum Value Index, while QQQA tracks NASDAQ-100 Dorsey Wright Momentum Index - Benchmark TR Gross. They also come from different issuers: Invesco and ProShares. Their fees differ too: 0.39% for XMVM and 0.58% for QQQA.

Which has better risk-adjusted returns?

QQQA currently has the higher Sharpe Ratio (3.41 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.