ETF Evaluator:
Invesco S&P SmallCap Momentum ETF (XSMO)
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(as of Jul 31)
Best Performing in Small Blend Over the Last Year
| 71.4% | Invesco NASDAQ Future Gen 200 ETF (QQQS) |
| 58.3% | iShares Micro-Cap ETF (IWC) |
| 52.2% | Fidelity Enhanced Small Cap Core ETF (FESM) |
| 50.0% | Invesco Dorsey Wright SmallCap Momt ETF (DWAS) |
| 49.9% | First Trust Small Cap Core AlphaDEX® ETF (FYX) |
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ETF Details
Invesco S&P SmallCap Momentum ETF Overview
Invesco S&P SmallCap Momentum ETF (XSMO) is a passively managed U.S. Equity Small Blend exchange-traded fund (ETF). Invesco launched the ETF in 2005.
The investment seeks to track the investment results (before fees and expenses) of the S&P SmallCap 600 Momentum Index (the "underlying index").
The fund generally will invest at least 90% of its total assets in securities that comprise the underlying index. Strictly in accordance with its guidelines and mandated procedures, the index provider compiles, maintains and calculates the underlying index, which is composed of constituents of the S&P SmallCap 600® Index that have the highest "momentum score."
About Invesco S&P SmallCap Momentum ETF (XSMO)
There are 3 members of the management team with an average tenure of 14.26 years: Peter Hubbard (2007), Michael Jeanette (2008) and Pratik Doshi (2020). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: S&P Composite 1500 TR USD index with a weighting of 100% and S&P SmallCap 600 Momentum TR USD index with a weighting of 100%. Invesco S&P SmallCap Momentum ETF has 110 securities in its portfolio. The top 10 holdings constitute 26.5% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Invesco S&P SmallCap Momentum ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Invesco S&P SmallCap Momentum ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 100.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Invesco S&P SmallCap Momentum ETF has 0.0% of the portfolio in cash.
Assets Under Management
The fund has $3 billion in total assets, which is below the $5 billion average for the Small Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
XSMO Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Invesco S&P SmallCap Momentum ETF expense ratio is below average compared to funds in the Small Blend category. Invesco S&P SmallCap Momentum ETF has an expense ratio of 0.36%, which is 15% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Invesco S&P SmallCap Momentum ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 50% for the Small Blend category.
Recently, in the month of June 2026, Invesco S&P SmallCap Momentum ETF returned 6.4%, which earned it a grade of B, as the Small Blend category had an average return of 5.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Invesco S&P SmallCap Momentum ETF has a trailing yield of 0.51%, which is below the 1.19% category average.
The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Invesco S&P SmallCap Momentum ETF Grades
Year to date, the ETF has returned 30.5%, 9.8 percentage points better than the category, which translates into a grade of A. The fund has returned 38.6% over the past year (grade of B), 25.4% over the past three years (grade of A) and 12.3% per year over the past five years (grade of A) and 15.5% per year over the past 10 years (grade of A).
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XSMO Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| XSMO Return (NAV) | 6.4% | 23.4% | 38.6% | 25.4% | 12.3% | 15.5% |
| XSMO Return (Price) | 6.4% | 23.3% | 38.5% | 25.4% | 12.3% | 15.6% |
| NAV +/- Price Return | 0.049% | 0.052% | 0.108% | 0.008% | 0.011% | -0.087% |
| Small Blend Avg | 5.8% | 18.9% | 32.8% | 16.6% | 8.1% | 11.7% |
| XSMO Grade (NAV) | B | A | B | A | A | A |
| +/- Category (NAV) | 0.6% | 4.5% | 5.8% | 8.8% | 4.2% | 3.9% |
| XSMO Tax-Cost Ratio | na | na | 0.3% | 0.3% | 0.3% | 0.3% |
XSMO Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| XSMO Return (NAV) | 30.5% | 9.8% | 17.6% | 21.4% | -15.5% | 19.3% | 21.8% | 28.4% | -2.9% | 23.4% | 7.2% |
| XSMO Return (Price) | 30.4% | 9.8% | 17.4% | 21.5% | -15.5% | 19.2% | 22.0% | 28.7% | -3.4% | 24.0% | 6.4% |
| NAV +/- Price Ret | -0.001% | -0.002% | -0.007% | 0.005% | -0.002% | -0.002% | 0.006% | 1.1% | 19.2% | 2.3% | -10.1% |
| Small Blend Avg | 20.6% | 8.7% | 11.7% | 16.3% | -15.9% | 24.0% | 12.7% | 24.8% | -9.2% | 14.4% | 19.6% |
| XSMO Grade (NAV) | A | C | A | A | C | D | A | A | A | A | F |
| +/- Category | 9.8% | 1.1% | 5.9% | 5.2% | 0.4% | -4.7% | 9.2% | 3.5% | 6.3% | 9.0% | -12.5% |
| Risk Measures | |
| Beta: | 1.12 |
| R-Squared: | 53% |
| Standard Deviation: | 20.1% |
| Category Risk Index: | 1.10 |
| Category Risk Rating: | High |
| Total Risk Index: | 1.65 |
| Total Risk Rating: | Above Average |
| Portfolio Characteristics | |
| Yield: | 0.5% |
| Total Assets: | $ 3,182 Mil |
| Share Class Assets: | $ 3,182 Mil |
| Turnover: | na |
| Expense Ratio: | 0.36% |
| Index Fund: | Yes |
| Index Tracked: | S&P Composite 1500 TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 19.1 years | |||
| Average Tenure: 14.3 years | |||
| Managers (Year): Hubbard Peter (2007), Jeanette Michael (2008), Doshi Pratik (2020) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 110 |
| % in Top 10 Holdings: | 26.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 100.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Invesco |
| Phone Number: | 800-983-0903 |
| Website: | www.invescopowershares.com |
| Inception Date: | March 3, 2005 |
Expenses and Fees
| Expense Ratio (%): | 0.36% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.42% |
