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XMVM vs. SPVM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XMVM vs. SPVM

Last updated Jun 24, 2026

XMVM (Invesco S&P MidCap Value with Momentum ETF) and SPVM (Invesco S&P 500 Value with Momentum ETF) are both Momentum funds from Invesco - XMVM tracks the S&P MidCap 400 High Momentum Value Index while SPVM tracks the S&P 500 High Momentum Value Index. Both are passively managed. Over the past 10 years, XMVM returned 12.13%/yr vs 12.34%/yr for SPVM. Their correlation of 0.83 suggests significant overlap in exposure. Both charge a 0.39% expense ratio.

Performance

XMVM vs. SPVM - 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 S&P 500 Value with Momentum ETF (SPVM). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XMVM achieves a 10.77% return, which is significantly higher than SPVM's 9.93% return. Both investments have delivered pretty close results over the past 10 years, with XMVM having a 12.13% annualized return and SPVM not far ahead at 12.34%.

XMVM

1D
0.27%
1M
2.58%
YTD
10.77%
6M
8.75%
1Y
30.72%
3Y*
18.96%
5Y*
11.21%
10Y*
12.13%

SPVM

1D
0.76%
1M
2.61%
YTD
9.93%
6M
9.00%
1Y
28.99%
3Y*
19.25%
5Y*
11.13%
10Y*
12.34%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XMVM vs. SPVM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XMVM
Invesco S&P MidCap Value with Momentum ETF		10.77%18.46%11.73%16.31%-8.21%35.15%5.68%30.38%-9.62%2.79%
SPVM
Invesco S&P 500 Value with Momentum ETF		9.93%20.47%15.64%5.53%-2.10%28.86%-3.18%29.33%-9.17%14.70%

Correlation

The correlation between XMVM and SPVM is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.85

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

0.89

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

0.90

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

0.88

Correlation (All Time)
Calculated using the full available price history since Jun 16, 2011

0.83

The correlation between XMVM and SPVM has been stable across timeframes, ranging from 0.83 to 0.90 - a consistent structural relationship.

XMVM vs. SPVM - Sectors Allocation Comparison

Sectors
XMVM
SPVM

Financial Services

41.9%
36.0%

Consumer Cyclical

15.0%
6.8%

Utilities

9.5%
13.8%

Industrials

8.8%
4.5%

Energy

8.0%
8.6%

Consumer Defensive

7.1%
7.6%

Real Estate

4.2%
1.9%

Technology

4.0%
6.2%

Communication Services

0.9%
6.6%

Basic Materials

0.8%
1.9%

Healthcare

0.7%
6.2%

Financial Services

XMVM
41.9%
SPVM
36.0%

Consumer Cyclical

XMVM
15.0%
SPVM
6.8%

Utilities

XMVM
9.5%
SPVM
13.8%

Industrials

XMVM
8.8%
SPVM
4.5%

Energy

XMVM
8.0%
SPVM
8.6%

Consumer Defensive

XMVM
7.1%
SPVM
7.6%

Real Estate

XMVM
4.2%
SPVM
1.9%

Technology

XMVM
4.0%
SPVM
6.2%

Communication Services

XMVM
0.9%
SPVM
6.6%

Basic Materials

XMVM
0.8%
SPVM
1.9%

Healthcare

XMVM
0.7%
SPVM
6.2%

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 S&P 500 Value with Momentum ETF

Often compared with XMVM:
XMVM vs. AVUVXMVM vs. MDYXMVM vs. RFVXMVM vs. RWKXMVM vs. SYLDXMVM vs. MDYVXMVM vs. MDYG
Often compared with SPVM:
SPVM vs. SPMOSPVM vs. SPYSPVM vs. SCHDSPVM vs. VOOSPVM vs. MTUMSPVM vs. VTVSPVM vs. SPHQ

Return for Risk

XMVM vs. SPVM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XMVM
XMVM Risk / Return Rank: 6565
Overall Rank
XMVM Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
XMVM Sortino Ratio Rank: 6767
Sortino Ratio Rank
XMVM Omega Ratio Rank: 6363
Omega Ratio Rank
XMVM Calmar Ratio Rank: 7171
Calmar Ratio Rank
XMVM Martin Ratio Rank: 6161
Martin Ratio Rank
SPVM
SPVM Risk / Return Rank: 8383
Overall Rank
SPVM Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
SPVM Sortino Ratio Rank: 8585
Sortino Ratio Rank
SPVM Omega Ratio Rank: 7878
Omega Ratio Rank
SPVM Calmar Ratio Rank: 8484
Calmar Ratio Rank
SPVM Martin Ratio Rank: 8585
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. SPVM - 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 S&P 500 Value with Momentum ETF (SPVM). 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.

XMVMSPVMDifference
Sharpe ratioReturn per unit of total volatility
2.03
2.51

-0.48

Sortino ratioReturn per unit of downside risk
2.92
3.60

-0.67

Omega ratioGain probability vs. loss probability

1.36

1.44

-0.08

Calmar ratioReturn relative to maximum drawdown

3.36

4.43

-1.07

Martin ratioReturn relative to average drawdown

10.39

16.80

-6.41

XMVM vs. SPVM - Sharpe Ratio Comparison

The current XMVM Sharpe Ratio is 2.03, which is comparable to the SPVM Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of XMVM and SPVM, 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

XMVM vs. SPVM - Drawdown Comparison

The maximum XMVM drawdown since its inception was -62.83%, which is greater than SPVM's maximum drawdown of -45.35%. Use the drawdown chart below to compare losses from any high point for XMVM and SPVM.

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Drawdown Indicators

XMVMSPVMDifference

Max Drawdown

Largest peak-to-trough decline

-62.83%

-45.35%

-17.48%

Max Drawdown (1Y)

Largest decline over 1 year

-9.18%

-6.57%

-2.61%

Max Drawdown (3Y)

Largest decline over 3 years

-24.12%

-18.66%

-5.46%

Max Drawdown (5Y)

Largest decline over 5 years

-24.12%

-19.48%

-4.64%

Max Drawdown (10Y)

Largest decline over 10 years

-45.07%

-45.35%

+0.28%

Current Drawdown

Current decline from peak

-1.22%

-0.87%

-0.35%

Average Drawdown

Average peak-to-trough decline

-10.25%

-4.98%

-5.27%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.96%

1.73%

+1.23%

Volatility

XMVM vs. SPVM - Volatility Comparison

Invesco S&P MidCap Value with Momentum ETF (XMVM) and Invesco S&P 500 Value with Momentum ETF (SPVM) have volatilities of 3.29% and 3.27%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XMVMSPVMDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.29%

3.27%

+0.02%

Volatility (6M)

Calculated over the trailing 6-month period

9.65%

7.72%

+1.93%

Volatility (1Y)

Calculated over the trailing 1-year period

15.26%

11.64%

+3.62%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.45%

16.74%

+4.71%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.81%

19.56%

+3.25%

XMVM vs. SPVM - Expense Ratio Comparison

Both XMVM and SPVM have an expense ratio of 0.39%.

Dividends

XMVM vs. SPVM - Dividend Comparison

XMVM's dividend yield for the trailing twelve months is around 1.89%, less than SPVM's 2.02% yield.

PositionTTM20252024202320222021202020192018201720162015
SPVM
Invesco S&P 500 Value with Momentum ETF		2.02%2.02%1.91%2.45%2.33%1.41%2.11%2.40%3.10%1.68%2.80%2.67%
XMVM
Invesco S&P MidCap Value with Momentum ETF		1.89%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 SPVM have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

XMVM has higher volatility (3.29%) compared to SPVM (3.27%). In terms of maximum drawdown, XMVM dropped -62.83% vs SPVM's -45.35%.

On 10-year performance, SPVM leads with 12.34% vs 12.13% for XMVM. Both ETFs have the same 0.39% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SPVM has performed better with a 12.34% return vs 12.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

XMVM and SPVM have the same expense ratio: 0.39% per year.

SPVM has the higher dividend yield at 2.02%, compared with 1.89% for XMVM.

XMVM tracks S&P MidCap 400 High Momentum Value Index, while SPVM tracks S&P 500 High Momentum Value Index.

SPVM currently has the higher Sharpe Ratio (2.51 vs 2.03), 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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