XSMO vs. FPKFX

Last updated Jun 9, 2026

XSMO (Invesco S&P SmallCap Momentum ETF) and FPKFX (Fidelity Puritan K6 Fund) are both funds - XSMO is a Momentum fund tracking the S&P SmallCap 600 Momentum Index, while FPKFX is a Diversified Portfolio fund managed by Fidelity. Over the past 5 years, XSMO returned 10.21%/yr vs 8.87%/yr for FPKFX. A 0.77 correlation means they provide meaningful diversification when combined. XSMO charges 0.36%/yr vs 0.32%/yr for FPKFX.

Performance

XSMO vs. FPKFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap Momentum ETF (XSMO) and Fidelity Puritan K6 Fund (FPKFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XSMO achieves a 20.54% return, which is significantly higher than FPKFX's 7.31% return.

XSMO

• 1D: 0.66%
• 1M: -0.62%
• YTD: 20.54%
• 6M: 18.72%
• 1Y: 30.63%
• 3Y*: 23.23%
• 5Y*: 10.21%
• 10Y*: 14.34%

FPKFX

• 1D: -2.69%
• 1M: -0.43%
• YTD: 7.31%
• 6M: 7.15%
• 1Y: 18.91%
• 3Y*: 15.96%
• 5Y*: 8.87%
• 10Y*: —

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

XSMO vs. FPKFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
XSMO Invesco S&P SmallCap Momentum ETF	20.54%	9.80%	17.45%	21.55%	-15.44%	19.24%	21.96%	8.88%
FPKFX Fidelity Puritan K6 Fund	7.31%	11.37%	18.95%	20.29%	-17.11%	19.10%	20.22%	9.41%

Correlation

The correlation between XSMO and FPKFX is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (All Time) Calculated using the full available price history since Jun 17, 2019	0.77

The correlation between XSMO and FPKFX has been stable across timeframes, ranging from 0.74 to 0.78 - a consistent structural relationship.

Return for Risk

XSMO vs. FPKFX — Risk / Return Rank

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

XSMO

XSMO Risk / Return Rank: 60
XSMO Sharpe Ratio Rank: 53
XSMO Sortino Ratio Rank: 54
XSMO Omega Ratio Rank: 49
XSMO Calmar Ratio Rank: 75
XSMO Martin Ratio Rank: 70

FPKFX

FPKFX Risk / Return Rank: 49
FPKFX Sharpe Ratio Rank: 45
FPKFX Sortino Ratio Rank: 41
FPKFX Omega Ratio Rank: 46
FPKFX Calmar Ratio Rank: 51
FPKFX Martin Ratio Rank: 61

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. FPKFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Momentum ETF (XSMO) and Fidelity Puritan K6 Fund (FPKFX). 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.

	XSMO	FPKFX	Difference
Sharpe ratio: Return per unit of total volatility	1.62	1.87	-0.25
Sortino ratio: Return per unit of downside risk	2.34	2.56	-0.21
Omega ratio: Gain probability vs. loss probability	1.28	1.35	-0.07
Calmar ratio: Return relative to maximum drawdown	3.46	2.60	+0.86
Martin ratio: Return relative to average drawdown	11.75	11.58	+0.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XSMO vs. FPKFX - Sharpe Ratio Comparison

The current XSMO Sharpe Ratio is 1.62, which is comparable to the FPKFX Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of XSMO and FPKFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XSMO	FPKFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.62	1.87	-0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	0.70	-0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.85	-0.46

Drawdowns

XSMO vs. FPKFX - Drawdown Comparison

The maximum XSMO drawdown since its inception was -58.06%, which is greater than FPKFX's maximum drawdown of -24.46%. Use the drawdown chart below to compare losses from any high point for XSMO and FPKFX.

Drawdown Indicators

	XSMO	FPKFX	Difference
Max Drawdown Largest peak-to-trough decline	-58.06%	-24.46%	-33.60%
Max Drawdown (1Y) Largest decline over 1 year	-8.89%	-7.48%	-1.41%
Max Drawdown (3Y) Largest decline over 3 years	-24.76%	-14.90%	-9.86%
Max Drawdown (5Y) Largest decline over 5 years	-29.62%	-22.33%	-7.29%
Max Drawdown (10Y) Largest decline over 10 years	-39.39%	—	—
Current Drawdown Current decline from peak	-2.86%	-2.69%	-0.17%
Average Drawdown Average peak-to-trough decline	-11.13%	-4.79%	-6.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.61%	1.67%	+0.94%

Volatility

XSMO vs. FPKFX - Volatility Comparison

Invesco S&P SmallCap Momentum ETF (XSMO) has a higher volatility of 6.73% compared to Fidelity Puritan K6 Fund (FPKFX) at 4.06%. This indicates that XSMO's price experiences larger fluctuations and is considered to be riskier than FPKFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XSMO	FPKFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.73%	4.06%	+2.67%
Volatility (6M) Calculated over the trailing 6-month period	14.49%	8.50%	+5.99%
Volatility (1Y) Calculated over the trailing 1-year period	19.01%	10.37%	+8.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.68%	12.69%	+9.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.14%	14.33%	+9.81%

XSMO vs. FPKFX - Expense Ratio Comparison

XSMO has a 0.36% expense ratio, which is higher than FPKFX's 0.32% expense ratio.

Dividends

XSMO vs. FPKFX - Dividend Comparison

XSMO's dividend yield for the trailing twelve months is around 0.54%, less than FPKFX's 3.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FPKFX Fidelity Puritan K6 Fund	3.91%	4.19%	3.83%	1.67%	1.62%	4.34%	1.40%	0.63%	0.00%	0.00%	0.00%	0.00%
XSMO Invesco S&P SmallCap Momentum ETF	0.54%	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 FPKFX in my portfolio?

XSMO and FPKFX have a correlation of 0.74, 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 FPKFX?

XSMO has higher volatility (6.73%) compared to FPKFX (4.06%). In terms of maximum drawdown, XSMO dropped -58.06% vs FPKFX's -24.46%.

Which has better risk-adjusted returns?

FPKFX currently has the higher Sharpe Ratio (1.87 vs 1.62), 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.