XSMO vs. GQEPX

Last updated Jun 14, 2026

XSMO (Invesco S&P SmallCap Momentum ETF) and GQEPX (GQG Partners US Select Quality Equity Fund Investor Shares) are both funds - XSMO is a Momentum fund tracking the S&P SmallCap 600 Momentum Index, while GQEPX is a Large Cap Growth Equities fund managed by GQG Partners Inc. Over the past 5 years, XSMO returned 11.65%/yr vs 9.85%/yr for GQEPX. A 0.60 correlation means they provide meaningful diversification when combined. XSMO charges 0.36%/yr vs 0.59%/yr for GQEPX.

Performance

XSMO vs. GQEPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap Momentum ETF (XSMO) and GQG Partners US Select Quality Equity Fund Investor Shares (GQEPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XSMO achieves a 24.80% return, which is significantly higher than GQEPX's 5.49% return.

XSMO

• 1D: 1.22%
• 1M: 3.48%
• YTD: 24.80%
• 6M: 20.56%
• 1Y: 37.87%
• 3Y*: 24.32%
• 5Y*: 11.65%
• 10Y*: 15.17%

GQEPX

• 1D: -1.17%
• 1M: -1.40%
• YTD: 5.49%
• 6M: 5.97%
• 1Y: 4.02%
• 3Y*: 12.75%
• 5Y*: 9.85%
• 10Y*: —

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

XSMO vs. GQEPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
XSMO Invesco S&P SmallCap Momentum ETF	24.80%	9.80%	17.45%	21.55%	-15.44%	19.24%	21.96%	28.65%	-20.46%
GQEPX GQG Partners US Select Quality Equity Fund Investor Shares	5.49%	-4.52%	28.99%	17.39%	-2.81%	19.90%	23.65%	27.21%	-7.67%

Correlation

The correlation between XSMO and GQEPX is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (All Time) Calculated using the full available price history since Oct 4, 2018	0.60

Over the past year, the correlation between XSMO and GQEPX has dropped to 0.04 - well below their long-term average of 0.60, suggesting their price drivers have been diverging.

Return for Risk

XSMO vs. GQEPX — Risk / Return Rank

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

XSMO

XSMO Risk / Return Rank: 70
XSMO Sharpe Ratio Rank: 63
XSMO Sortino Ratio Rank: 66
XSMO Omega Ratio Rank: 58
XSMO Calmar Ratio Rank: 84
XSMO Martin Ratio Rank: 80

GQEPX

GQEPX Risk / Return Rank: 8
GQEPX Sharpe Ratio Rank: 8
GQEPX Sortino Ratio Rank: 8
GQEPX Omega Ratio Rank: 8
GQEPX Calmar Ratio Rank: 10
GQEPX Martin Ratio Rank: 8

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. GQEPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Momentum ETF (XSMO) and GQG Partners US Select Quality Equity Fund Investor Shares (GQEPX). 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	GQEPX	Difference
Sharpe ratio: Return per unit of total volatility	1.82	0.42	+1.40
Sortino ratio: Return per unit of downside risk	2.62	0.67	+1.94
Omega ratio: Gain probability vs. loss probability	1.31	1.08	+0.23
Calmar ratio: Return relative to maximum drawdown	3.98	0.63	+3.35
Martin ratio: Return relative to average drawdown	13.44	1.37	+12.08

XSMO vs. GQEPX - Sharpe Ratio Comparison

The current XSMO Sharpe Ratio is 1.82, which is higher than the GQEPX Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of XSMO and GQEPX, 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. GQEPX - Drawdown Comparison

The maximum XSMO drawdown since its inception was -58.06%, which is greater than GQEPX's maximum drawdown of -28.45%. Use the drawdown chart below to compare losses from any high point for XSMO and GQEPX.

Drawdown Indicators

	XSMO	GQEPX	Difference
Max Drawdown Largest peak-to-trough decline	-58.06%	-28.45%	-29.61%
Max Drawdown (1Y) Largest decline over 1 year	-8.89%	-6.77%	-2.12%
Max Drawdown (3Y) Largest decline over 3 years	-24.76%	-18.97%	-5.79%
Max Drawdown (5Y) Largest decline over 5 years	-29.62%	-20.49%	-9.13%
Max Drawdown (10Y) Largest decline over 10 years	-39.39%	—	—
Current Drawdown Current decline from peak	0.00%	-9.95%	+9.95%
Average Drawdown Average peak-to-trough decline	-11.12%	-5.82%	-5.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.63%	3.12%	-0.49%

Volatility

XSMO vs. GQEPX - Volatility Comparison

Invesco S&P SmallCap Momentum ETF (XSMO) has a higher volatility of 7.71% compared to GQG Partners US Select Quality Equity Fund Investor Shares (GQEPX) at 3.55%. This indicates that XSMO's price experiences larger fluctuations and is considered to be riskier than GQEPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XSMO	GQEPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.71%	3.55%	+4.16%
Volatility (6M) Calculated over the trailing 6-month period	14.99%	7.78%	+7.21%
Volatility (1Y) Calculated over the trailing 1-year period	19.42%	10.16%	+9.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.63%	15.88%	+6.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.15%	18.70%	+5.45%

XSMO vs. GQEPX - Expense Ratio Comparison

XSMO has a 0.36% expense ratio, which is lower than GQEPX's 0.59% expense ratio.

Dividends

XSMO vs. GQEPX - Dividend Comparison

XSMO's dividend yield for the trailing twelve months is around 0.52%, less than GQEPX's 6.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GQEPX GQG Partners US Select Quality Equity Fund Investor Shares	6.61%	6.98%	5.30%	0.44%	4.46%	1.49%	0.61%	0.63%	0.09%	0.00%	0.00%	0.00%
XSMO Invesco S&P SmallCap Momentum ETF	0.52%	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 GQEPX in my portfolio?

XSMO and GQEPX have a correlation of 0.04, 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 GQEPX?

XSMO has higher volatility (7.71%) compared to GQEPX (3.55%). In terms of maximum drawdown, XSMO dropped -58.06% vs GQEPX's -28.45%.

Which has better risk-adjusted returns?

XSMO currently has the higher Sharpe Ratio (1.82 vs 0.42), 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.