XSMO vs. XMC.TO

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco S&P SmallCap Momentum ETF (XSMO) and iShares S&P U.S. Mid-Cap Index ETF (XMC.TO).

XSMO and XMC.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XSMO is a passively managed fund by Invesco that tracks the performance of the S&P SmallCap 600 Index. It was launched on Mar 3, 2005. XMC.TO is a passively managed fund by iShares that tracks the performance of the Morningstar US SMID TR CAD. It was launched on Aug 4, 2015. Both XSMO and XMC.TO 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

XSMO vs. XMC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap Momentum ETF (XSMO) and iShares S&P U.S. Mid-Cap Index ETF (XMC.TO). The values are adjusted to include any dividend payments, if applicable.

XSMO vs. XMC.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XSMO Invesco S&P SmallCap Momentum ETF	7.05%	9.80%	17.45%	21.55%	-15.44%	19.24%	21.96%	28.65%	-3.44%	23.95%
XMC.TO iShares S&P U.S. Mid-Cap Index ETF	3.44%	7.27%	13.28%	16.24%	-13.79%	24.31%	13.34%	26.91%	-12.22%	16.25%

Different Trading Currencies

XSMO is traded in USD, while XMC.TO is traded in CAD. To make them comparable, the XMC.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XSMO achieves a 7.05% return, which is significantly higher than XMC.TO's 3.44% return. Over the past 10 years, XSMO has outperformed XMC.TO with an annualized return of 13.73%, while XMC.TO has yielded a comparatively lower 10.23% annualized return.

XSMO

• 1D: 1.24%
• 1M: -4.33%
• YTD: 7.05%
• 6M: 4.97%
• 1Y: 23.58%
• 3Y*: 19.37%
• 5Y*: 8.69%
• 10Y*: 13.73%

XMC.TO

• 1D: 1.00%
• 1M: -5.19%
• YTD: 3.44%
• 6M: 4.71%
• 1Y: 17.35%
• 3Y*: 12.06%
• 5Y*: 6.45%
• 10Y*: 10.23%

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

XSMO vs. XMC.TO - Expense Ratio Comparison

XSMO has a 0.39% expense ratio, which is higher than XMC.TO's 0.16% expense ratio.

XSMO

Invesco S&P SmallCap Momentum ETF

XMC.TO

iShares S&P U.S. Mid-Cap Index ETF

Return for Risk

XSMO vs. XMC.TO — 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: 59
XSMO Sortino Ratio Rank: 60
XSMO Omega Ratio Rank: 55
XSMO Calmar Ratio Rank: 66
XSMO Martin Ratio Rank: 68

XMC.TO

XMC.TO Risk / Return Rank: 34
XMC.TO Sharpe Ratio Rank: 33
XMC.TO Sortino Ratio Rank: 33
XMC.TO Omega Ratio Rank: 33
XMC.TO Calmar Ratio Rank: 36
XMC.TO Martin Ratio Rank: 37

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. XMC.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Momentum ETF (XSMO) and iShares S&P U.S. Mid-Cap Index ETF (XMC.TO). 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	XMC.TO	Difference
Sharpe ratio Return per unit of total volatility	1.07	0.81	+0.26
Sortino ratio Return per unit of downside risk	1.59	1.29	+0.31
Omega ratio Gain probability vs. loss probability	1.21	1.17	+0.04
Calmar ratio Return relative to maximum drawdown	1.75	1.26	+0.48
Martin ratio Return relative to average drawdown	7.23	5.37	+1.86
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. XMC.TO - Sharpe Ratio Comparison

The current XSMO Sharpe Ratio is 1.07, which is higher than the XMC.TO Sharpe Ratio of 0.81. The chart below compares the historical Sharpe Ratios of XSMO and XMC.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XSMO	XMC.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.07	0.81	+0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.33	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	0.50	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.45	-0.09

Correlation

The correlation between XSMO and XMC.TO is 0.79, 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

XSMO vs. XMC.TO - Dividend Comparison

XSMO's dividend yield for the trailing twelve months is around 0.60%, less than XMC.TO's 1.05% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XSMO Invesco S&P SmallCap Momentum ETF	0.60%	0.75%	0.63%	0.96%	1.19%	0.30%	0.82%	0.69%	0.66%	0.27%	0.30%	0.35%
XMC.TO iShares S&P U.S. Mid-Cap Index ETF	1.05%	1.10%	0.94%	1.17%	1.27%	0.99%	1.07%	1.40%	1.56%	0.96%	1.09%	0.51%

Drawdowns

XSMO vs. XMC.TO - Drawdown Comparison

The maximum XSMO drawdown since its inception was -58.06%, which is greater than XMC.TO's maximum drawdown of -41.89%. Use the drawdown chart below to compare losses from any high point for XSMO and XMC.TO.

Drawdown Indicators

	XSMO	XMC.TO	Difference
Max Drawdown Largest peak-to-trough decline	-58.06%	-36.38%	-21.68%
Max Drawdown (1Y) Largest decline over 1 year	-13.42%	-14.31%	+0.89%
Max Drawdown (5Y) Largest decline over 5 years	-29.62%	-22.70%	-6.92%
Max Drawdown (10Y) Largest decline over 10 years	-39.39%	-36.38%	-3.01%
Current Drawdown Current decline from peak	-4.59%	-3.84%	-0.75%
Average Drawdown Average peak-to-trough decline	-11.21%	-5.12%	-6.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.24%	3.89%	-0.65%

Volatility

XSMO vs. XMC.TO - Volatility Comparison

Invesco S&P SmallCap Momentum ETF (XSMO) has a higher volatility of 7.71% compared to iShares S&P U.S. Mid-Cap Index ETF (XMC.TO) at 6.48%. This indicates that XSMO's price experiences larger fluctuations and is considered to be riskier than XMC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XSMO	XMC.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.71%	6.48%	+1.23%
Volatility (6M) Calculated over the trailing 6-month period	13.63%	12.21%	+1.42%
Volatility (1Y) Calculated over the trailing 1-year period	22.11%	21.44%	+0.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.87%	19.83%	+3.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.05%	20.77%	+3.28%