XSMO vs. FCPVX

Last updated Jun 24, 2026

XSMO (Invesco S&P SmallCap Momentum ETF) and FCPVX (Fidelity Small Cap Value Fund) are both funds - XSMO is a Momentum fund tracking the S&P SmallCap 600 Momentum Index, while FCPVX is a Small Cap Value Equities fund managed by Fidelity. Over the past 10 years, XSMO returned 15.24%/yr vs 12.00%/yr for FCPVX. Their correlation of 0.84 suggests significant overlap in exposure. XSMO charges 0.36%/yr vs 0.99%/yr for FCPVX.

Performance

XSMO vs. FCPVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap Momentum ETF (XSMO) and Fidelity Small Cap Value Fund (FCPVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with XSMO having a 24.23% return and FCPVX slightly lower at 23.80%. Over the past 10 years, XSMO has outperformed FCPVX with an annualized return of 15.24%, while FCPVX has yielded a comparatively lower 12.00% annualized return.

XSMO

• 1D: -1.05%
• 1M: 3.78%
• YTD: 24.23%
• 6M: 20.02%
• 1Y: 34.26%
• 3Y*: 25.28%
• 5Y*: 11.43%
• 10Y*: 15.24%

FCPVX

• 1D: 0.24%
• 1M: 5.41%
• YTD: 23.80%
• 6M: 21.45%
• 1Y: 38.78%
• 3Y*: 19.33%
• 5Y*: 9.98%
• 10Y*: 12.00%

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

XSMO vs. FCPVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XSMO Invesco S&P SmallCap Momentum ETF	24.23%	9.80%	17.45%	21.55%	-15.44%	19.24%	21.96%	28.65%	-3.44%	23.95%
FCPVX Fidelity Small Cap Value Fund	23.80%	8.13%	9.41%	17.77%	-13.07%	38.08%	11.18%	20.86%	-15.47%	12.26%

Correlation

The correlation between XSMO and FCPVX is 0.87, 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	0.87
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	0.84
Correlation (All Time) Calculated using the full available price history since Mar 3, 2005	0.84

The correlation between XSMO and FCPVX has been stable across timeframes, ranging from 0.84 to 0.90 - a consistent structural relationship.

Return for Risk

XSMO vs. FCPVX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XSMO

XSMO Risk / Return Rank: 62
XSMO Sharpe Ratio Rank: 54
XSMO Sortino Ratio Rank: 56
XSMO Omega Ratio Rank: 50
XSMO Calmar Ratio Rank: 78
XSMO Martin Ratio Rank: 72

FCPVX

FCPVX Risk / Return Rank: 74
FCPVX Sharpe Ratio Rank: 71
FCPVX Sortino Ratio Rank: 75
FCPVX Omega Ratio Rank: 58
FCPVX Calmar Ratio Rank: 87
FCPVX Martin Ratio Rank: 81

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.

XSMO vs. FCPVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Momentum ETF (XSMO) and Fidelity Small Cap Value Fund (FCPVX). 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.

	XSMO	FCPVX	Difference
Sharpe ratio: Return per unit of total volatility	1.78	2.26	-0.49
Sortino ratio: Return per unit of downside risk	2.57	3.30	-0.72
Omega ratio: Gain probability vs. loss probability	1.30	1.38	-0.08
Calmar ratio: Return relative to maximum drawdown	3.87	3.99	-0.12
Martin ratio: Return relative to average drawdown	13.07	13.97	-0.89

XSMO vs. FCPVX - Sharpe Ratio Comparison

The current XSMO Sharpe Ratio is 1.78, which is comparable to the FCPVX Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of XSMO and FCPVX, 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

XSMO vs. FCPVX - Drawdown Comparison

The maximum XSMO drawdown since its inception was -58.06%, roughly equal to the maximum FCPVX drawdown of -57.65%. Use the drawdown chart below to compare losses from any high point for XSMO and FCPVX.

Drawdown Indicators

	XSMO	FCPVX	Difference
Max Drawdown Largest peak-to-trough decline	-58.06%	-57.65%	-0.41%
Max Drawdown (1Y) Largest decline over 1 year	-8.89%	-10.31%	+1.42%
Max Drawdown (3Y) Largest decline over 3 years	-24.76%	-23.81%	-0.95%
Max Drawdown (5Y) Largest decline over 5 years	-29.62%	-23.81%	-5.81%
Max Drawdown (10Y) Largest decline over 10 years	-39.39%	-44.59%	+5.20%
Current Drawdown Current decline from peak	-1.05%	0.00%	-1.05%
Average Drawdown Average peak-to-trough decline	-11.11%	-7.95%	-3.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.63%	2.94%	-0.31%

Volatility

XSMO vs. FCPVX - Volatility Comparison

Invesco S&P SmallCap Momentum ETF (XSMO) has a higher volatility of 7.31% compared to Fidelity Small Cap Value Fund (FCPVX) at 5.84%. This indicates that XSMO's price experiences larger fluctuations and is considered to be riskier than FCPVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XSMO	FCPVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.31%	5.84%	+1.47%
Volatility (6M) Calculated over the trailing 6-month period	14.94%	13.38%	+1.56%
Volatility (1Y) Calculated over the trailing 1-year period	19.41%	18.22%	+1.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.64%	20.98%	+1.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.13%	22.40%	+1.73%

XSMO vs. FCPVX - Expense Ratio Comparison

XSMO has a 0.36% expense ratio, which is lower than FCPVX's 0.99% expense ratio.

Dividends

XSMO vs. FCPVX - Dividend Comparison

XSMO's dividend yield for the trailing twelve months is around 0.53%, less than FCPVX's 8.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCPVX Fidelity Small Cap Value Fund	8.20%	10.15%	6.13%	5.20%	5.92%	7.95%	0.46%	3.49%	36.44%	3.64%	7.12%	11.09%
XSMO Invesco S&P SmallCap Momentum ETF	0.53%	0.75%	0.63%	0.96%	1.19%	0.30%	0.82%	0.69%	0.66%	0.27%	0.30%	0.35%

Frequently Asked Questions

Can I hold both XSMO and FCPVX in my portfolio?

XSMO and FCPVX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XSMO or FCPVX?

XSMO has higher volatility (7.31%) compared to FCPVX (5.84%). In terms of maximum drawdown, XSMO dropped -58.06% vs FCPVX's -57.65%.

Which has better risk-adjusted returns?

FCPVX currently has the higher Sharpe Ratio (2.26 vs 1.78), 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.