XSHQ vs. FSMD
Compare and contrast key facts about Invesco S&P SmallCap Quality ETF (XSHQ) and Fidelity Small-Mid Multifactor ETF (FSMD).
XSHQ and FSMD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XSHQ is a passively managed fund by Invesco that tracks the performance of the S&P SmallCap 600 Quality Index. It was launched on Apr 6, 2017. FSMD is a passively managed fund by Fidelity that tracks the performance of the Fidelity Small-Mid Multifactor Index. It was launched on Feb 26, 2019. Both XSHQ and FSMD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
XSHQ vs. FSMD - Performance Comparison
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XSHQ vs. FSMD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
XSHQ Invesco S&P SmallCap Quality ETF | 0.55% | 0.89% | 7.49% | 23.88% | -15.01% | 23.99% | 11.81% | 5.75% |
FSMD Fidelity Small-Mid Multifactor ETF | 1.72% | 8.70% | 15.18% | 17.37% | -11.15% | 26.40% | 8.94% | 8.81% |
Returns By Period
In the year-to-date period, XSHQ achieves a 0.55% return, which is significantly lower than FSMD's 1.72% return.
XSHQ
- 1D
- 2.55%
- 1M
- -4.24%
- YTD
- 0.55%
- 6M
- -1.09%
- 1Y
- 8.29%
- 3Y*
- 9.07%
- 5Y*
- 4.06%
- 10Y*
- —
FSMD
- 1D
- 3.04%
- 1M
- -4.67%
- YTD
- 1.72%
- 6M
- 2.29%
- 1Y
- 15.81%
- 3Y*
- 13.07%
- 5Y*
- 7.84%
- 10Y*
- —
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XSHQ vs. FSMD - Expense Ratio Comparison
Both XSHQ and FSMD have an expense ratio of 0.29%.
Return for Risk
XSHQ vs. FSMD — Risk / Return Rank
XSHQ
FSMD
XSHQ vs. FSMD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Quality ETF (XSHQ) and Fidelity Small-Mid Multifactor ETF (FSMD). 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.
| XSHQ | FSMD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.39 | 0.79 | -0.41 |
Sortino ratioReturn per unit of downside risk | 0.73 | 1.26 | -0.52 |
Omega ratioGain probability vs. loss probability | 1.09 | 1.17 | -0.08 |
Calmar ratioReturn relative to maximum drawdown | 0.81 | 1.33 | -0.52 |
Martin ratioReturn relative to average drawdown | 2.53 | 5.61 | -3.07 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XSHQ | FSMD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.39 | 0.79 | -0.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.19 | 0.43 | -0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 0.47 | -0.15 |
Correlation
The correlation between XSHQ and FSMD is 0.92, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
XSHQ vs. FSMD - Dividend Comparison
XSHQ's dividend yield for the trailing twelve months is around 1.50%, more than FSMD's 1.37% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XSHQ Invesco S&P SmallCap Quality ETF | 1.50% | 1.48% | 1.18% | 1.15% | 2.02% | 1.25% | 1.24% | 1.11% | 1.16% | 0.60% |
FSMD Fidelity Small-Mid Multifactor ETF | 1.37% | 1.33% | 1.29% | 1.37% | 1.54% | 1.18% | 1.32% | 1.37% | 0.00% | 0.00% |
Drawdowns
XSHQ vs. FSMD - Drawdown Comparison
The maximum XSHQ drawdown since its inception was -38.33%, smaller than the maximum FSMD drawdown of -40.67%. Use the drawdown chart below to compare losses from any high point for XSHQ and FSMD.
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Drawdown Indicators
| XSHQ | FSMD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.33% | -40.67% | +2.34% |
Max Drawdown (1Y)Largest decline over 1 year | -13.48% | -12.63% | -0.85% |
Max Drawdown (5Y)Largest decline over 5 years | -27.34% | -22.16% | -5.18% |
Current DrawdownCurrent decline from peak | -9.45% | -5.65% | -3.80% |
Average DrawdownAverage peak-to-trough decline | -9.47% | -6.12% | -3.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.32% | 3.01% | +1.31% |
Volatility
XSHQ vs. FSMD - Volatility Comparison
The current volatility for Invesco S&P SmallCap Quality ETF (XSHQ) is 5.87%, while Fidelity Small-Mid Multifactor ETF (FSMD) has a volatility of 6.73%. This indicates that XSHQ experiences smaller price fluctuations and is considered to be less risky than FSMD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XSHQ | FSMD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.87% | 6.73% | -0.86% |
Volatility (6M)Calculated over the trailing 6-month period | 12.68% | 11.32% | +1.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.69% | 20.07% | +1.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.34% | 18.43% | +2.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.26% | 21.54% | +1.72% |