XSVM vs. IYW
XSVM (Invesco S&P SmallCap Value with Momentum ETF) and IYW (iShares U.S. Technology ETF) are both exchange-traded funds - XSVM is a Momentum fund tracking the S&P SmallCap 600 High Momentum Value Index, while IYW is a Technology Equities fund tracking the Russell 1000 Technology RIC 22.5/45 Capped Index. Both are passively managed. Over the past 10 years, XSVM returned 13.23%/yr vs 25.63%/yr for IYW. A 0.61 correlation means they provide meaningful diversification when combined. XSVM charges 0.37%/yr vs 0.38%/yr for IYW.
Performance
XSVM vs. IYW - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with XSVM having a 21.88% return and IYW slightly higher at 22.66%. Over the past 10 years, XSVM has underperformed IYW with an annualized return of 13.23%, while IYW has yielded a comparatively higher 25.63% annualized return.
XSVM
- 1D
- 1.17%
- 1M
- 5.46%
- YTD
- 21.88%
- 6M
- 18.48%
- 1Y
- 42.01%
- 3Y*
- 16.38%
- 5Y*
- 7.44%
- 10Y*
- 13.23%
IYW
- 1D
- 0.61%
- 1M
- 0.73%
- YTD
- 22.66%
- 6M
- 23.40%
- 1Y
- 50.17%
- 3Y*
- 32.06%
- 5Y*
- 21.19%
- 10Y*
- 25.63%
XSVM vs. IYW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XSVM Invesco S&P SmallCap Value with Momentum ETF | 21.88% | 7.47% | 2.30% | 20.20% | -13.63% | 56.36% | 5.08% | 30.01% | -12.33% | 3.62% |
IYW iShares U.S. Technology ETF | 22.66% | 25.38% | 30.25% | 65.44% | -34.83% | 35.44% | 47.45% | 46.64% | -0.93% | 36.60% |
Correlation
The correlation between XSVM and IYW is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2005 | 0.61 |
Over the past year, the correlation between XSVM and IYW has dropped to 0.37 - well below their long-term average of 0.61, suggesting their price drivers have been diverging.
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Return for Risk
XSVM vs. IYW — Risk / Return Rank
XSVM
IYW
XSVM vs. IYW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Value with Momentum ETF (XSVM) and iShares U.S. Technology ETF (IYW). 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.
| XSVM | IYW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.38 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.86 | 2.70 | +1.16 |
| Martin ratioReturn relative to average drawdown | 11.98 | 8.68 | +3.30 |
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Drawdowns
XSVM vs. IYW - Drawdown Comparison
The maximum XSVM drawdown since its inception was -62.57%, smaller than the maximum IYW drawdown of -81.90%. Use the drawdown chart below to compare losses from any high point for XSVM and IYW.
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Drawdown Indicators
| XSVM | IYW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.57% | -81.90% | +19.33% |
Max Drawdown (1Y)Largest decline over 1 year | -10.08% | -17.81% | +7.73% |
Max Drawdown (3Y)Largest decline over 3 years | -26.21% | -26.47% | +0.26% |
Max Drawdown (5Y)Largest decline over 5 years | -26.21% | -39.44% | +13.23% |
Max Drawdown (10Y)Largest decline over 10 years | -49.02% | -39.44% | -9.58% |
Current DrawdownCurrent decline from peak | 0.00% | -5.81% | +5.81% |
Average DrawdownAverage peak-to-trough decline | -11.55% | -34.62% | +23.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.26% | 5.54% | -2.28% |
Volatility
XSVM vs. IYW - Volatility Comparison
The current volatility for Invesco S&P SmallCap Value with Momentum ETF (XSVM) is 5.09%, while iShares U.S. Technology ETF (IYW) has a volatility of 9.41%. This indicates that XSVM experiences smaller price fluctuations and is considered to be less risky than IYW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XSVM | IYW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.09% | 9.41% | -4.32% |
Volatility (6M)Calculated over the trailing 6-month period | 12.03% | 17.67% | -5.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.60% | 21.47% | -2.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.61% | 26.07% | -3.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.08% | 25.20% | -0.12% |
XSVM vs. IYW - Expense Ratio Comparison
XSVM has a 0.37% expense ratio, which is lower than IYW's 0.38% expense ratio.
Dividends
XSVM vs. IYW - Dividend Comparison
XSVM's dividend yield for the trailing twelve months is around 1.74%, more than IYW's 0.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IYW iShares U.S. Technology ETF | 0.11% | 0.14% | 0.21% | 0.34% | 0.50% | 0.31% | 0.56% | 0.72% | 0.92% | 0.82% | 1.14% | 1.12% |
XSVM Invesco S&P SmallCap Value with Momentum ETF | 1.74% | 2.29% | 1.69% | 1.31% | 1.79% | 1.23% | 1.21% | 1.22% | 2.54% | 1.90% | 2.29% | 2.68% |
Frequently Asked Questions
XSVM and IYW have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IYW has higher volatility (9.41%) compared to XSVM (5.09%). In terms of maximum drawdown, XSVM dropped -62.57% vs IYW's -81.90%.
On 10-year performance, IYW leads with 25.63% vs 13.23% for XSVM. On fees, XSVM is cheaper at 0.37% per year. On volatility, XSVM has been the lower-risk option at 5.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IYW has performed better with a 25.63% return vs 13.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XSVM is cheaper with a 0.37% expense ratio, compared with 0.38% for IYW.
XSVM has the higher dividend yield at 1.74%, compared with 0.11% for IYW.
XSVM is categorized as Momentum, while IYW is Technology Equities. XSVM tracks S&P SmallCap 600 High Momentum Value Index, while IYW tracks Russell 1000 Technology RIC 22.5/45 Capped Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.37% for XSVM and 0.38% for IYW.
IYW currently has the higher Sharpe Ratio (2.24 vs 2.09), 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.
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