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XSVM vs. SPGP
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XSVM vs. SPGP

Last updated Jun 13, 2026

XSVM (Invesco S&P SmallCap Value with Momentum ETF) and SPGP (Invesco S&P 500 GARP ETF) are both exchange-traded funds - XSVM is a Momentum fund tracking the S&P SmallCap 600 High Momentum Value Index, while SPGP is a Multi-factor fund tracking the S&P 500 GARP Index. Both are passively managed. Over the past 10 years, XSVM returned 13.23%/yr vs 15.11%/yr for SPGP. A 0.69 correlation means they provide meaningful diversification when combined. XSVM charges 0.37%/yr vs 0.36%/yr for SPGP.

Performance

XSVM vs. SPGP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap Value with Momentum ETF (XSVM) and Invesco S&P 500 GARP ETF (SPGP). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XSVM achieves a 21.88% return, which is significantly higher than SPGP's 6.06% return. Over the past 10 years, XSVM has underperformed SPGP with an annualized return of 13.23%, while SPGP has yielded a comparatively higher 15.11% 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%

SPGP

1D
0.84%
1M
2.86%
YTD
6.06%
6M
5.64%
1Y
16.85%
3Y*
11.97%
5Y*
7.97%
10Y*
15.11%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XSVM vs. SPGP - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
SPGP
Invesco S&P 500 GARP ETF		6.06%9.80%8.48%20.29%-13.83%35.72%15.92%39.16%1.68%36.24%

Correlation

The correlation between XSVM and SPGP is 0.75, 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

0.75

Correlation (3Y)
Calculated over the trailing 3-year period

0.80

Correlation (5Y)
Calculated over the trailing 5-year period

0.80

Correlation (10Y)
Calculated over the trailing 10-year period

0.72

Correlation (All Time)
Calculated using the full available price history since Jun 16, 2011

0.69

The correlation between XSVM and SPGP shifts across timeframes, from 0.69 (all time) to 0.80 (3 years), reflecting how their relationship changes across market environments.

XSVM vs. SPGP - Sectors Allocation Comparison

Sectors
XSVM
SPGP

Financial Services

38.8%
22.2%

Consumer Cyclical

17.0%
18.0%

Energy

9.9%
7.1%

Technology

7.8%
22.8%

Consumer Defensive

7.3%

-

Industrials

6.7%
16.8%

Real Estate

5.0%
2.7%

Communication Services

2.9%
6.6%

Basic Materials

1.9%

-

Healthcare

1.4%
3.8%

Utilities

1.3%

-

Financial Services

XSVM
38.8%
SPGP
22.2%

Consumer Cyclical

XSVM
17.0%
SPGP
18.0%

Energy

XSVM
9.9%
SPGP
7.1%

Technology

XSVM
7.8%
SPGP
22.8%

Consumer Defensive

XSVM
7.3%
SPGP

-

Industrials

XSVM
6.7%
SPGP
16.8%

Real Estate

XSVM
5.0%
SPGP
2.7%

Communication Services

XSVM
2.9%
SPGP
6.6%

Basic Materials

XSVM
1.9%
SPGP

-

Healthcare

XSVM
1.4%
SPGP
3.8%

Utilities

XSVM
1.3%
SPGP

-

Compare stocks, funds, or ETFs

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Invesco S&P SmallCap Value with Momentum ETF

Invesco S&P 500 GARP ETF

Often compared with XSVM:
XSVM vs. XSMOXSVM vs. AVUVXSVM vs. RWJXSVM vs. XSHQXSVM vs. SPHBXSVM vs. DGRSXSVM vs. RYPRX
Often compared with SPGP:
SPGP vs. GARPSPGP vs. VOOSPGP vs. SPYSPGP vs. QQQSPGP vs. PAVESPGP vs. HACAXSPGP vs. SCHD

Return for Risk

XSVM vs. SPGP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XSVM
XSVM Risk / Return Rank: 7676
Overall Rank
XSVM Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
XSVM Sortino Ratio Rank: 7878
Sortino Ratio Rank
XSVM Omega Ratio Rank: 7272
Omega Ratio Rank
XSVM Calmar Ratio Rank: 8383
Calmar Ratio Rank
XSVM Martin Ratio Rank: 7373
Martin Ratio Rank
SPGP
SPGP Risk / Return Rank: 3434
Overall Rank
SPGP Sharpe Ratio Rank: 3333
Sharpe Ratio Rank
SPGP Sortino Ratio Rank: 3333
Sortino Ratio Rank
SPGP Omega Ratio Rank: 3030
Omega Ratio Rank
SPGP Calmar Ratio Rank: 3333
Calmar Ratio Rank
SPGP Martin Ratio Rank: 3939
Martin Ratio Rank
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.

XSVM vs. SPGP - 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 Invesco S&P 500 GARP ETF (SPGP). 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.

XSVMSPGPDifference
Sharpe ratioReturn per unit of total volatility
2.09
1.04

+1.06

Sortino ratioReturn per unit of downside risk
3.00
1.57

+1.43

Omega ratioGain probability vs. loss probability

1.37

1.19

+0.18

Calmar ratioReturn relative to maximum drawdown

3.86

1.45

+2.41

Martin ratioReturn relative to average drawdown

11.98

5.54

+6.45

XSVM vs. SPGP - Sharpe Ratio Comparison

The current XSVM Sharpe Ratio is 2.09, which is higher than the SPGP Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of XSVM and SPGP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

XSVM vs. SPGP - Drawdown Comparison

The maximum XSVM drawdown since its inception was -62.57%, which is greater than SPGP's maximum drawdown of -42.08%. Use the drawdown chart below to compare losses from any high point for XSVM and SPGP.

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Drawdown Indicators

XSVMSPGPDifference

Max Drawdown

Largest peak-to-trough decline

-62.57%

-42.08%

-20.49%

Max Drawdown (1Y)

Largest decline over 1 year

-10.08%

-11.15%

+1.07%

Max Drawdown (3Y)

Largest decline over 3 years

-26.21%

-22.87%

-3.34%

Max Drawdown (5Y)

Largest decline over 5 years

-26.21%

-22.87%

-3.34%

Max Drawdown (10Y)

Largest decline over 10 years

-49.02%

-42.08%

-6.94%

Current Drawdown

Current decline from peak

0.00%

-1.05%

+1.05%

Average Drawdown

Average peak-to-trough decline

-11.55%

-4.35%

-7.20%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.26%

2.92%

+0.34%

Volatility

XSVM vs. SPGP - Volatility Comparison

The current volatility for Invesco S&P SmallCap Value with Momentum ETF (XSVM) is 5.09%, while Invesco S&P 500 GARP ETF (SPGP) has a volatility of 5.43%. This indicates that XSVM experiences smaller price fluctuations and is considered to be less risky than SPGP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XSVMSPGPDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.09%

5.43%

-0.34%

Volatility (6M)

Calculated over the trailing 6-month period

12.03%

12.24%

-0.21%

Volatility (1Y)

Calculated over the trailing 1-year period

18.60%

15.63%

+2.97%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.61%

18.60%

+4.01%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

25.08%

21.23%

+3.85%

XSVM vs. SPGP - Expense Ratio Comparison

XSVM has a 0.37% expense ratio, which is higher than SPGP's 0.36% expense ratio.

Dividends

XSVM vs. SPGP - Dividend Comparison

XSVM's dividend yield for the trailing twelve months is around 1.74%, more than SPGP's 0.88% yield.

PositionTTM20252024202320222021202020192018201720162015
SPGP
Invesco S&P 500 GARP ETF		0.88%1.04%1.38%1.24%1.22%0.69%1.10%0.86%0.95%0.68%0.89%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 SPGP have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SPGP has higher volatility (5.43%) compared to XSVM (5.09%). In terms of maximum drawdown, XSVM dropped -62.57% vs SPGP's -42.08%.

On 10-year performance, SPGP leads with 15.11% vs 13.23% for XSVM. On fees, SPGP is cheaper at 0.36% 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, SPGP has performed better with a 15.11% return vs 13.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SPGP is cheaper with a 0.36% expense ratio, compared with 0.37% for XSVM.

XSVM has the higher dividend yield at 1.74%, compared with 0.88% for SPGP.

XSVM is categorized as Momentum, while SPGP is Multi-factor. XSVM tracks S&P SmallCap 600 High Momentum Value Index, while SPGP tracks S&P 500 GARP Index. Their fees differ too: 0.37% for XSVM and 0.36% for SPGP.

XSVM currently has the higher Sharpe Ratio (2.09 vs 1.04), 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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