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XMVM vs. VFMO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XMVM vs. VFMO

Last updated Aug 4, 2026
Documentation

XMVM (Invesco S&P MidCap Value with Momentum ETF) and VFMO (Vanguard U.S. Momentum Factor ETF) are both Momentum funds. XMVM is passively managed, while VFMO is actively managed. Over the past 5 years, XMVM returned 12.87%/yr vs 13.20%/yr for VFMO. Their 0.72 correlation means they have sometimes moved together and sometimes differently. XMVM charges 0.39%/yr vs 0.13%/yr for VFMO.

Performance

XMVM vs. VFMO - 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 U.S. Momentum Factor ETF (VFMO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both investments are quite close, with XMVM having a 18.13% return and VFMO slightly higher at 18.90%.

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%

VFMO

1D
1.33%
1M
-4.02%
6M
11.14%
YTD
18.90%
1Y
32.82%
3Y*
24.08%
5Y*
13.20%
10Y*
—
ALL TIME*
14.61%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

VFMO

Vanguard U.S. Momentum Factor ETF
$16.47M$17.39M$17.06M

XMVM

Invesco S&P MidCap Value with Momentum ETF
$2.19M$2.07M$1.98M

XMVM vs. VFMO - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
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%-6.51%
VFMO
Vanguard U.S. Momentum Factor ETF		18.90%17.39%26.14%16.25%-12.84%19.16%31.36%28.22%-11.41%

Correlation

The correlation between XMVM and VFMO is 0.46, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.46

Correlation (3Y)
Balances recent behavior with more history.

0.67

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.77

Correlation (All Time)
Calculated using the full available price history since Feb 15, 2018

0.72

Over the past year, the correlation between XMVM and VFMO has dropped to 0.46 - well below their long-term average of 0.72, suggesting their price drivers have been diverging.

XMVM vs. VFMO - Sectors Allocation Comparison

Sectors
XMVM
VFMO

Financial Services

37.9%
6.5%

Consumer Cyclical

14.8%
8.7%

Energy

13.5%
7.3%

Industrials

11.7%
24.7%

Utilities

8.5%
0.2%

Technology

5.1%
17.5%

Real Estate

4.9%
0.1%

Healthcare

2.5%
22.9%

Consumer Defensive

1.2%
2.5%

Communication Services

0.9%
3.4%

Basic Materials

0.8%
6.4%

Financial Services

XMVM
37.9%
VFMO
6.5%

Consumer Cyclical

XMVM
14.8%
VFMO
8.7%

Energy

XMVM
13.5%
VFMO
7.3%

Industrials

XMVM
11.7%
VFMO
24.7%

Utilities

XMVM
8.5%
VFMO
0.2%

Technology

XMVM
5.1%
VFMO
17.5%

Real Estate

XMVM
4.9%
VFMO
0.1%

Healthcare

XMVM
2.5%
VFMO
22.9%

Consumer Defensive

XMVM
1.2%
VFMO
2.5%

Communication Services

XMVM
0.9%
VFMO
3.4%

Basic Materials

XMVM
0.8%
VFMO
6.4%

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

Vanguard U.S. Momentum Factor ETF

Often compared with XMVM:
XMVM vs. AVUVXMVM vs. MDYXMVM vs. RFVXMVM vs. RWKXMVM vs. SYLDXMVM vs. MDYGXMVM vs. MDYV
Often compared with VFMO:
VFMO vs. SPMOVFMO vs. MTUMVFMO vs. VOOVFMO vs. VFMFVFMO vs. QMOMVFMO vs. AVUVVFMO vs. QQQ

Return for Risk

XMVM vs. VFMO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
XMVM
XMVM Risk / Return Rank: 9292
Overall Rank
XMVM Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
XMVM Sortino Ratio Rank: 9494
Sortino Ratio Rank
XMVM Omega Ratio Rank: 9393
Omega Ratio Rank
XMVM Calmar Ratio Rank: 9292
Calmar Ratio Rank
XMVM Martin Ratio Rank: 8888
Martin Ratio Rank
VFMO
VFMO Risk / Return Rank: 6060
Overall Rank
VFMO Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
VFMO Sortino Ratio Rank: 5454
Sortino Ratio Rank
VFMO Omega Ratio Rank: 5353
Omega Ratio Rank
VFMO Calmar Ratio Rank: 6666
Calmar Ratio Rank
VFMO Martin Ratio Rank: 7070
Martin Ratio Rank
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. VFMO - 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 U.S. Momentum Factor ETF (VFMO). 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.

XMVMVFMODifference
Sharpe ratioReturn per unit of total volatility
2.67
1.37

+1.30

Sortino ratioReturn per unit of downside risk
3.84
1.91

+1.93

Omega ratioGain probability vs. loss probability

1.48

1.24

+0.24

Calmar ratioReturn relative to maximum drawdown

4.28

2.36

+1.92

Martin ratioReturn relative to average drawdown

13.71

8.66

+5.05

XMVM vs. VFMO - Sharpe Ratio Comparison

The current XMVM Sharpe Ratio is 2.67, which is higher than the VFMO Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of XMVM and VFMO, 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. VFMO - Drawdown Comparison

The maximum XMVM drawdown since its inception was -62.83%, which is greater than VFMO's maximum drawdown of -36.77%. Use the drawdown chart below to compare losses from any high point for XMVM and VFMO.

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Drawdown Indicators

XMVMVFMODifference

Max Drawdown

Largest peak-to-trough decline

-62.83%

-36.77%

-26.06%

Max Drawdown (1Y)

Largest decline over 1 year

-9.18%

-13.97%

+4.79%

Max Drawdown (3Y)

Largest decline over 3 years

-24.12%

-24.40%

+0.28%

Max Drawdown (5Y)

Largest decline over 5 years

-24.12%

-25.80%

+1.68%

Max Drawdown (10Y)

Largest decline over 10 years

-45.07%

—

—

Current Drawdown

Current decline from peak

-0.12%

-9.15%

+9.03%

Average Drawdown

Average peak-to-trough decline

-10.19%

-7.71%

-2.48%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.86%

3.80%

-0.94%

Volatility

XMVM vs. VFMO - Volatility Comparison

The current volatility for Invesco S&P MidCap Value with Momentum ETF (XMVM) is 3.30%, while Vanguard U.S. Momentum Factor ETF (VFMO) has a volatility of 8.64%. This indicates that XMVM experiences smaller price fluctuations and is considered to be less risky than VFMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XMVMVFMODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.30%

8.64%

-5.34%

Volatility (6M)

Calculated over the trailing 6-month period

9.25%

19.35%

-10.10%

Volatility (1Y)

Calculated over the trailing 1-year period

14.72%

24.05%

-9.33%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.24%

22.13%

-0.89%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.74%

23.73%

-0.99%

XMVM vs. VFMO - Expense Ratio Comparison

XMVM has a 0.39% expense ratio, which is higher than VFMO's 0.13% expense ratio.

Dividends

XMVM vs. VFMO - Dividend Comparison

XMVM's dividend yield for the trailing twelve months is around 1.78%, more than VFMO's 0.62% yield.

PositionTTM20252024202320222021202020192018201720162015
VFMO
Vanguard U.S. Momentum Factor ETF		0.62%0.82%0.72%0.89%1.72%0.81%0.45%1.22%0.70%0.00%0.00%0.00%
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

XMVM and VFMO have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VFMO has higher volatility (8.64%) compared to XMVM (3.30%). In terms of maximum drawdown, XMVM dropped -62.83% vs VFMO's -36.77%.

On 5-year performance, VFMO leads with 13.20% vs 12.87% for XMVM. On fees, VFMO is cheaper at 0.13% 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.

Over the 5-year period, VFMO has performed better with a 13.20% return vs 12.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VFMO is cheaper with a 0.13% expense ratio, compared with 0.39% for XMVM.

XMVM has the higher dividend yield at 1.78%, compared with 0.62% for VFMO.

They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.39% for XMVM and 0.13% for VFMO.

XMVM currently has the higher Sharpe Ratio (2.67 vs 1.37), 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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