XTR vs. QVMT
XTR (Global X S&P 500 Tail Risk ETF) and QVMT (Invesco S&P S&P 500 Concentrated QVM ETF) are both exchange-traded funds - XTR is a Equity Hedged fund tracking the Cboe S&P 500 Tail Risk Index, while QVMT is a S&P 500 fund tracking the S&P 500 Quality, Value & Momentum Multi-factor Index. Both are passively managed. Over the past 3 years, XTR returned 17.61%/yr vs 19.23%/yr for QVMT. Their 0.67 correlation means they have sometimes moved together and sometimes differently. XTR charges 0.25%/yr vs 0.13%/yr for QVMT.
Performance
XTR vs. QVMT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XTR achieves a 10.63% return, which is significantly lower than QVMT's 17.56% return.
XTR
- 1D
- 1.77%
- 1M
- 3.11%
- 6M
- 9.54%
- YTD
- 10.63%
- 1Y
- 18.95%
- 3Y*
- 17.61%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 9.89%
QVMT
- 1D
- 2.27%
- 1M
- -0.15%
- 6M
- 12.34%
- YTD
- 17.56%
- 1Y
- 34.92%
- 3Y*
- 19.23%
- 5Y*
- 12.93%
- 10Y*
- 12.83%
- ALL TIME*
- 12.04%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $516.23K | $909.97K | $719.16K | |
| $36.06K | $55.09K | $61.90K |
XTR vs. QVMT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XTR Global X S&P 500 Tail Risk ETF | 10.63% | 13.66% | 21.85% | 21.16% | -17.67% | 4.25% |
QVMT Invesco S&P S&P 500 Concentrated QVM ETF | 17.56% | 19.08% | 14.40% | 11.71% | -5.61% | 5.36% |
Correlation
The correlation between XTR and QVMT is 0.57, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.57 |
Correlation (3Y) Balances recent behavior with more history. | 0.56 |
Correlation (All Time) Calculated using the full available price history since Aug 26, 2021 | 0.67 |
The correlation between XTR and QVMT shifts across timeframes, from 0.56 (3 years) to 0.67 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
XTR vs. QVMT — Risk / Return Rank
XTR
QVMT
XTR vs. QVMT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X S&P 500 Tail Risk ETF (XTR) and Invesco S&P S&P 500 Concentrated QVM ETF (QVMT). 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.
| XTR | QVMT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.73 | ||
| Sortino ratioReturn per unit of downside risk | -0.98 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.41 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.24 | 3.80 | -1.56 |
| Martin ratioReturn relative to average drawdown | 8.75 | 15.19 | -6.44 |
Loading charts...
Drawdowns
XTR vs. QVMT - Drawdown Comparison
The maximum XTR drawdown since its inception was -20.83%, smaller than the maximum QVMT drawdown of -48.05%. Use the drawdown chart below to compare losses from any high point for XTR and QVMT.
Loading charts...
Drawdown Indicators
| XTR | QVMT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.83% | -48.05% | +27.22% |
Max Drawdown (1Y)Largest decline over 1 year | -8.51% | -9.23% | +0.72% |
Max Drawdown (3Y)Largest decline over 3 years | -14.35% | -14.42% | +0.07% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.95% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.05% | — |
Current DrawdownCurrent decline from peak | 0.00% | -4.77% | +4.77% |
Average DrawdownAverage peak-to-trough decline | -5.81% | -6.29% | +0.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.17% | 2.30% | -0.13% |
Volatility
XTR vs. QVMT - Volatility Comparison
The current volatility for Global X S&P 500 Tail Risk ETF (XTR) is 3.76%, while Invesco S&P S&P 500 Concentrated QVM ETF (QVMT) has a volatility of 6.34%. This indicates that XTR experiences smaller price fluctuations and is considered to be less risky than QVMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| XTR | QVMT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.76% | 6.34% | -2.58% |
Volatility (6M)Calculated over the trailing 6-month period | 9.39% | 12.21% | -2.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.78% | 14.91% | -3.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.80% | 17.53% | -3.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.80% | 21.24% | -7.44% |
XTR vs. QVMT - Expense Ratio Comparison
XTR has a 0.25% expense ratio, which is higher than QVMT's 0.13% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
XTR vs. QVMT - Dividend Comparison
XTR's dividend yield for the trailing twelve months is around 16.08%, more than QVMT's 1.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QVMT Invesco S&P S&P 500 Concentrated QVM ETF | 1.85% | 2.42% | 2.71% | 3.05% | 2.49% | 2.31% | 2.70% | 2.23% | 2.48% | 2.37% | 1.11% | 0.54% |
XTR Global X S&P 500 Tail Risk ETF | 16.08% | 17.82% | 20.89% | 1.09% | 1.08% | 2.32% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XTR and QVMT have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QVMT has higher volatility (6.34%) compared to XTR (3.76%). In terms of maximum drawdown, XTR dropped -20.83% vs QVMT's -48.05%.
On 3-year performance, QVMT leads with 19.23% vs 17.61% for XTR. On fees, QVMT is cheaper at 0.13% per year. On volatility, XTR has been the lower-risk option at 3.76%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, QVMT has performed better with a 19.23% return vs 17.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QVMT is cheaper with a 0.13% expense ratio, compared with 0.25% for XTR.
XTR has the higher dividend yield at 16.08%, compared with 1.85% for QVMT.
XTR is categorized as Equity Hedged, while QVMT is S&P 500. XTR tracks Cboe S&P 500 Tail Risk Index, while QVMT tracks S&P 500 Quality, Value & Momentum Multi-factor Index. They also come from different issuers: Global X and Invesco. Their fees differ too: 0.25% for XTR and 0.13% for QVMT.
QVMT currently has the higher Sharpe Ratio (2.35 vs 1.62), 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.
Find the right allocation for XTR and QVMT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer