XMVM vs. VBR

Last updated Aug 4, 2026

XMVM (Invesco S&P MidCap Value with Momentum ETF) and VBR (Vanguard Small-Cap Value ETF) are both exchange-traded funds - XMVM is a Momentum fund tracking the S&P MidCap 400 High Momentum Value Index, while VBR is a Small Cap Value Equities fund tracking the CRSP US Small Cap Value Index. Both are passively managed. Over the past 10 years, XMVM returned 12.28%/yr vs 10.67%/yr for VBR. Their correlation of 0.90 means they have usually moved in the same direction. XMVM charges 0.39%/yr vs 0.05%/yr for VBR.

Performance

XMVM vs. VBR - 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 Vanguard Small-Cap Value ETF (VBR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with XMVM having a 18.13% return and VBR slightly higher at 18.17%. Over the past 10 years, XMVM has outperformed VBR with an annualized return of 12.28%, while VBR has yielded a comparatively lower 10.67% annualized return.

XMVM

• 1D: 0.59%
• 1M: 5.73%
• 6M: 13.53%
• YTD: 18.13%
• 1Y: 39.09%
• 3Y*: 18.08%
• 5Y*: 12.87%
• 10Y*: 12.28%
• ALL TIME*: 9.73%

VBR

• 1D: 1.27%
• 1M: 1.85%
• 6M: 11.26%
• YTD: 18.17%
• 1Y: 29.28%
• 3Y*: 15.36%
• 5Y*: 10.29%
• 10Y*: 10.67%
• ALL TIME*: 9.72%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
VBR Vanguard Small-Cap Value ETF	$57.38M	$55.84M	$67.82M
XMVM Invesco S&P MidCap Value with Momentum ETF	$2.19M	$2.07M	$1.98M

XMVM vs. VBR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XMVM Invesco S&P MidCap Value with Momentum ETF	18.13%	18.46%	11.73%	16.31%	-8.21%	35.15%	5.68%	30.38%	-9.62%	2.79%
VBR Vanguard Small-Cap Value ETF	18.17%	9.09%	12.40%	16.00%	-9.38%	28.08%	5.90%	22.78%	-12.28%	11.81%

Correlation

The correlation between XMVM and VBR is 0.83, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.83
Correlation (3Y) Balances recent behavior with more history.	0.92
Correlation (5Y) Shows whether the relationship held over a longer period.	0.94
Correlation (10Y) Provides a long-term view across more market conditions.	0.93
Correlation (All Time) Calculated using the full available price history since Mar 3, 2005	0.90

The correlation between XMVM and VBR shifts across timeframes, from 0.83 (1 year) to 0.94 (5 years), reflecting how their relationship changes across market environments.

XMVM vs. VBR - Sectors Allocation Comparison

Sectors	XMVM	VBR
Financial Services	37.9%	17.5%
Consumer Cyclical	14.8%	13.6%
Energy	13.5%	4.3%
Industrials	11.7%	17.3%
Utilities	8.5%	4.9%
Technology	5.1%	10.9%
Real Estate	4.9%	11.1%
Healthcare	2.5%	8.4%
Consumer Defensive	1.2%	4.2%
Communication Services	0.9%	2.4%
Basic Materials	0.8%	5.3%

Return for Risk

XMVM vs. VBR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

XMVM

XMVM Risk / Return Rank: 92
XMVM Sharpe Ratio Rank: 94
XMVM Sortino Ratio Rank: 94
XMVM Omega Ratio Rank: 93
XMVM Calmar Ratio Rank: 92
XMVM Martin Ratio Rank: 88

VBR

VBR Risk / Return Rank: 84
VBR Sharpe Ratio Rank: 84
VBR Sortino Ratio Rank: 86
VBR Omega Ratio Rank: 81
VBR Calmar Ratio Rank: 85
VBR Martin Ratio Rank: 85

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

XMVM vs. VBR - 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 Vanguard Small-Cap Value ETF (VBR). 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.

	XMVM	VBR	Difference
Sharpe ratio: Return per unit of total volatility	2.67	1.98	+0.69
Sortino ratio: Return per unit of downside risk	3.84	2.91	+0.93
Omega ratio: Gain probability vs. loss probability	1.48	1.35	+0.13
Calmar ratio: Return relative to maximum drawdown	4.28	3.32	+0.96
Martin ratio: Return relative to average drawdown	13.71	12.14	+1.57

XMVM vs. VBR - Sharpe Ratio Comparison

The current XMVM Sharpe Ratio is 2.67, which is higher than the VBR Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of XMVM and VBR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

XMVM vs. VBR - Drawdown Comparison

The maximum XMVM drawdown since its inception was -62.83%, roughly equal to the maximum VBR drawdown of -61.98%. Use the drawdown chart below to compare losses from any high point for XMVM and VBR.

Drawdown Indicators

	XMVM	VBR	Difference
Max Drawdown Largest peak-to-trough decline	-62.83%	-61.98%	-0.85%
Max Drawdown (1Y) Largest decline over 1 year	-9.18%	-8.85%	-0.33%
Max Drawdown (3Y) Largest decline over 3 years	-24.12%	-24.19%	+0.07%
Max Drawdown (5Y) Largest decline over 5 years	-24.12%	-24.19%	+0.07%
Max Drawdown (10Y) Largest decline over 10 years	-45.07%	-45.28%	+0.21%
Current Drawdown Current decline from peak	-0.12%	-0.15%	+0.03%
Average Drawdown Average peak-to-trough decline	-10.19%	-8.21%	-1.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.86%	2.42%	+0.44%

Volatility

XMVM vs. VBR - Volatility Comparison

The current volatility for Invesco S&P MidCap Value with Momentum ETF (XMVM) is 3.30%, while Vanguard Small-Cap Value ETF (VBR) has a volatility of 3.58%. This indicates that XMVM experiences smaller price fluctuations and is considered to be less risky than VBR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XMVM	VBR	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.30%	3.58%	-0.28%
Volatility (6M) Calculated over the trailing 6-month period	9.25%	10.28%	-1.03%
Volatility (1Y) Calculated over the trailing 1-year period	14.72%	14.86%	-0.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.24%	19.57%	+1.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.74%	21.67%	+1.07%

XMVM vs. VBR - Expense Ratio Comparison

XMVM has a 0.39% expense ratio, which is higher than VBR's 0.05% expense ratio.

Dividends

XMVM vs. VBR - Dividend Comparison

XMVM's dividend yield for the trailing twelve months is around 1.78%, more than VBR's 1.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VBR Vanguard Small-Cap Value ETF	1.74%	1.95%	1.98%	2.12%	2.03%	1.75%	1.68%	2.06%	2.35%	1.79%	1.77%	1.99%
XMVM Invesco S&P MidCap Value with Momentum ETF	1.78%	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 VBR in my portfolio?

XMVM and VBR have a correlation of 0.83, 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 VBR?

VBR has higher volatility (3.58%) compared to XMVM (3.30%). In terms of maximum drawdown, XMVM dropped -62.83% vs VBR's -61.98%.

Which ETF is better, XMVM or VBR?

On 10-year performance, XMVM leads with 12.28% vs 10.67% for VBR. On fees, VBR is cheaper at 0.05% per year. On volatility, XMVM has been the lower-risk option at 3.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XMVM or VBR?

Over the 10-year period, XMVM has performed better with a 12.28% return vs 10.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XMVM or VBR?

VBR is cheaper with a 0.05% expense ratio, compared with 0.39% for XMVM.

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

XMVM has the higher dividend yield at 1.78%, compared with 1.74% for VBR.

What is the main difference between XMVM and VBR?

XMVM is categorized as Momentum, while VBR is Small Cap Value Equities. XMVM tracks S&P MidCap 400 High Momentum Value Index, while VBR tracks CRSP US Small Cap Value Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.39% for XMVM and 0.05% for VBR.

Which has better risk-adjusted returns?

XMVM currently has the higher Sharpe Ratio (2.67 vs 1.98), 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.