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XSVM vs. SPHB
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XSVM vs. SPHB

Last updated Jun 24, 2026

XSVM (Invesco S&P SmallCap Value with Momentum ETF) and SPHB (Invesco S&P 500® High Beta ETF) are both exchange-traded funds - XSVM is a Momentum fund tracking the S&P SmallCap 600 High Momentum Value Index, while SPHB is a S&P 500 fund tracking the S&P 500 High Beta Index. Both are passively managed. Over the past 10 years, XSVM returned 13.32%/yr vs 19.46%/yr for SPHB. A 0.79 correlation means they provide meaningful diversification when combined. XSVM charges 0.37%/yr vs 0.25%/yr for SPHB.

Performance

XSVM vs. SPHB - 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® High Beta ETF (SPHB). 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 20.98% return, which is significantly lower than SPHB's 29.05% return. Over the past 10 years, XSVM has underperformed SPHB with an annualized return of 13.32%, while SPHB has yielded a comparatively higher 19.46% annualized return.

XSVM

1D
0.77%
1M
3.66%
YTD
20.98%
6M
18.82%
1Y
37.12%
3Y*
17.66%
5Y*
7.87%
10Y*
13.32%

SPHB

1D
-4.02%
1M
6.10%
YTD
29.05%
6M
26.31%
1Y
62.78%
3Y*
28.21%
5Y*
15.53%
10Y*
19.46%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XSVM vs. SPHB - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XSVM
Invesco S&P SmallCap Value with Momentum ETF		20.98%7.47%2.30%20.20%-13.63%56.36%5.08%30.01%-12.33%3.62%
SPHB
Invesco S&P 500® High Beta ETF		29.05%32.87%8.48%33.28%-20.59%40.58%25.56%33.96%-15.55%17.87%

Correlation

The correlation between XSVM and SPHB is 0.61, 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

0.61

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

0.68

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

0.74

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

0.76

Correlation (All Time)
Calculated using the full available price history since May 5, 2011

0.79

The correlation between XSVM and SPHB shifts across timeframes, from 0.61 (1 year) to 0.79 (all time), reflecting how their relationship changes across market environments.

XSVM vs. SPHB - Sectors Allocation Comparison

Sectors
XSVM
SPHB

Financial Services

38.7%
13.2%

Consumer Cyclical

17.4%
12.7%

Technology

9.5%
46.2%

Energy

9.3%
2.2%

Consumer Defensive

6.9%
0.9%

Industrials

6.3%
14.8%

Real Estate

4.8%

-

Communication Services

2.8%
2.5%

Basic Materials

2.0%
2.4%

Utilities

1.2%
2.4%

Healthcare

1.1%
4.9%

Financial Services

XSVM
38.7%
SPHB
13.2%

Consumer Cyclical

XSVM
17.4%
SPHB
12.7%

Technology

XSVM
9.5%
SPHB
46.2%

Energy

XSVM
9.3%
SPHB
2.2%

Consumer Defensive

XSVM
6.9%
SPHB
0.9%

Industrials

XSVM
6.3%
SPHB
14.8%

Real Estate

XSVM
4.8%
SPHB

-

Communication Services

XSVM
2.8%
SPHB
2.5%

Basic Materials

XSVM
2.0%
SPHB
2.4%

Utilities

XSVM
1.2%
SPHB
2.4%

Healthcare

XSVM
1.1%
SPHB
4.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco S&P SmallCap Value with Momentum ETF

Invesco S&P 500® High Beta ETF

Often compared with XSVM:
XSVM vs. XSMOXSVM vs. AVUVXSVM vs. RWJXSVM vs. XSHQXSVM vs. DGRSXSVM vs. RYPRXXSVM vs. SVAL
Often compared with SPHB:
SPHB vs. SPLVSPHB vs. QQQSPHB vs. SCHDSPHB vs. SPMOSPHB vs. IVVSPHB vs. SPGPSPHB vs. VSDA

Return for Risk

XSVM vs. SPHB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XSVM
XSVM Risk / Return Rank: 6767
Overall Rank
XSVM Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
XSVM Sortino Ratio Rank: 6767
Sortino Ratio Rank
XSVM Omega Ratio Rank: 6262
Omega Ratio Rank
XSVM Calmar Ratio Rank: 7676
Calmar Ratio Rank
XSVM Martin Ratio Rank: 6666
Martin Ratio Rank
SPHB
SPHB Risk / Return Rank: 8484
Overall Rank
SPHB Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
SPHB Sortino Ratio Rank: 7575
Sortino Ratio Rank
SPHB Omega Ratio Rank: 7676
Omega Ratio Rank
SPHB Calmar Ratio Rank: 9292
Calmar Ratio Rank
SPHB Martin Ratio Rank: 9292
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. SPHB - 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® High Beta ETF (SPHB). 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.

XSVMSPHBDifference
Sharpe ratioReturn per unit of total volatility
2.03
2.60

-0.57

Sortino ratioReturn per unit of downside risk
2.93
3.18

-0.25

Omega ratioGain probability vs. loss probability

1.36

1.42

-0.07

Calmar ratioReturn relative to maximum drawdown

3.70

5.90

-2.20

Martin ratioReturn relative to average drawdown

11.45

22.17

-10.73

XSVM vs. SPHB - Sharpe Ratio Comparison

The current XSVM Sharpe Ratio is 2.03, which is comparable to the SPHB Sharpe Ratio of 2.60. The chart below compares the historical Sharpe Ratios of XSVM and SPHB, 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. SPHB - Drawdown Comparison

The maximum XSVM drawdown since its inception was -62.57%, which is greater than SPHB's maximum drawdown of -46.84%. Use the drawdown chart below to compare losses from any high point for XSVM and SPHB.

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Drawdown Indicators

XSVMSPHBDifference

Max Drawdown

Largest peak-to-trough decline

-62.57%

-46.84%

-15.73%

Max Drawdown (1Y)

Largest decline over 1 year

-10.08%

-10.70%

+0.62%

Max Drawdown (3Y)

Largest decline over 3 years

-26.21%

-29.21%

+3.00%

Max Drawdown (5Y)

Largest decline over 5 years

-26.21%

-31.49%

+5.28%

Max Drawdown (10Y)

Largest decline over 10 years

-49.02%

-46.84%

-2.18%

Current Drawdown

Current decline from peak

-0.73%

-4.02%

+3.29%

Average Drawdown

Average peak-to-trough decline

-11.54%

-8.48%

-3.06%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.25%

2.84%

+0.41%

Volatility

XSVM vs. SPHB - Volatility Comparison

The current volatility for Invesco S&P SmallCap Value with Momentum ETF (XSVM) is 4.63%, while Invesco S&P 500® High Beta ETF (SPHB) has a volatility of 11.78%. This indicates that XSVM experiences smaller price fluctuations and is considered to be less risky than SPHB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XSVMSPHBDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.63%

11.78%

-7.15%

Volatility (6M)

Calculated over the trailing 6-month period

12.28%

19.72%

-7.44%

Volatility (1Y)

Calculated over the trailing 1-year period

18.54%

24.30%

-5.76%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.55%

27.73%

-5.18%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

25.07%

28.54%

-3.47%

XSVM vs. SPHB - Expense Ratio Comparison

XSVM has a 0.37% expense ratio, which is higher than SPHB's 0.25% expense ratio.

Dividends

XSVM vs. SPHB - Dividend Comparison

XSVM's dividend yield for the trailing twelve months is around 1.82%, more than SPHB's 0.54% yield.

PositionTTM20252024202320222021202020192018201720162015
SPHB
Invesco S&P 500® High Beta ETF		0.54%0.60%0.80%0.73%0.72%0.91%1.90%1.26%1.96%1.34%0.93%1.69%
XSVM
Invesco S&P SmallCap Value with Momentum ETF		1.82%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 SPHB have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SPHB has higher volatility (11.78%) compared to XSVM (4.63%). In terms of maximum drawdown, XSVM dropped -62.57% vs SPHB's -46.84%.

On 10-year performance, SPHB leads with 19.46% vs 13.32% for XSVM. On fees, SPHB is cheaper at 0.25% per year. On volatility, XSVM has been the lower-risk option at 4.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SPHB has performed better with a 19.46% return vs 13.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SPHB is cheaper with a 0.25% expense ratio, compared with 0.37% for XSVM.

XSVM has the higher dividend yield at 1.82%, compared with 0.54% for SPHB.

XSVM is categorized as Momentum, while SPHB is S&P 500. XSVM tracks S&P SmallCap 600 High Momentum Value Index, while SPHB tracks S&P 500 High Beta Index. Their fees differ too: 0.37% for XSVM and 0.25% for SPHB.

SPHB currently has the higher Sharpe Ratio (2.60 vs 2.03), 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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