Data as of Oct 28, 2026.
SPSM vs XSMO: Differences, Returns & Fees
Over the year to Oct 28, 2026, SPSM returned +17.6% to XSMO's +11.8%; 22% of their weight is in the same names.
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Net assets on Oct 27, 2026: $16.0bn for State Street SPDR Portfolio S&P 600 Small Cap ETF and $2.8bn for Invesco S&P SmallCap Momentum ETF.
Pair scorecard
SPSM costs 0.32 points a year less; their one-year returns differ by 5.8 points; SPSM is 5.7 times larger.
| Measure | SPSM | XSMO |
|---|---|---|
| Return | ||
| Total return, 1 year | +17.6% | +11.8% |
| Drawdown | ||
| Below its high | 6.7%, high on Aug 14, 2026 | 12.5%, high on Jun 30, 2026 |
| Benchmark | ||
| What it tracks | S&P SmallCap 600 Index | S&P SmallCap 600 Momentum Index |
| Cost and size | ||
| Expense ratio | 0.03% | 0.35% |
| Net assets, as of Oct 27, 2026 | $16.0bn | $2.8bn |
| Holdings | ||
| Holdings in common | 22% | |
| Top ten holdings, share of the fund | 5.3% | 23.3% |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Jul 19, 2013 to Oct 23, 2026 · 692 weekly returnsXSMO returned more: +302.8% to +222.7%. SPSM swung slightly less: 21.2% to 22.2%. XSMO fell slightly less at its worst: −38.3% to −41.9%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | SPSM | XSMO | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +222.7% | +302.8% | XSMO | Price change plus distributions, reinvested. |
| Annualized | +9.2% | +11.0% | XSMO | Total return as a yearly rate. |
| Price return | +158.2% | +264.7% | XSMO | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 21.2% | 22.2% | SPSM (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 14.6% | 15.3% | SPSM (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −41.9% | −38.3% | XSMO (slight) | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.43 | 0.50 | XSMO | Return above Treasury bills per unit of volatility. |
| Sortino | 0.63 | 0.72 | XSMO | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.22 | 0.29 | XSMO | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 692 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, SPSM and XSMO hold 22% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
22% in common
Only in one fund ↓
Side by side
SPSM and XSMO on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
SPSM and XSMO are built for the same job. How do they differ in cost, holdings and results?
- What each follows. SPSM follows S&P SmallCap 600 Index and XSMO follows S&P SmallCap 600 Momentum Index.
- Holdings in common. 22% of the weight is in the same securities (holdings dated Oct 27, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 SPSM returned +17.6% and XSMO +11.8% with distributions reinvested, a gap of 5.8 points.
Data as of Oct 28, 2026.
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SPSM
SPSM tracks an index. Over the year to Oct 28, 2026 it returned +17.6% with distributions reinvested, against +17.5% for its benchmark, the S&P SmallCap 600 Index. The prospectus expense ratio is 0.03% a year. By its holdings published by its issuer for Oct 27, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 609 positions, with the top ten at 5.3%. It sat 6.7% below its high of Aug 14, 2026 on Oct 28, 2026.
XSMO
XSMO tracks an index. Over the year to Oct 28, 2026 it returned +11.8% with distributions reinvested. The prospectus expense ratio is 0.35% a year. By its holdings published by its issuer for Oct 27, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 116 positions, with the top ten at 23.3%. It sat 12.5% below its high of Jun 30, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, SPSM or XSMO?
- In the year to Oct 28, 2026, with distributions reinvested, SPSM returned +17.6% and XSMO +11.8%.
- Which is cheaper, SPSM or XSMO?
- SPSM is cheaper, by 0.32 percentage points a year. That is about $32 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, SPSM against XSMO, data as of Oct 28, 2026. https://etfiq.com/compare/any/spsm-vs-xsmo
ETFIQ. (Oct 28, 2026). SPSM against XSMO. Retrieved from https://etfiq.com/compare/any/spsm-vs-xsmo
[SPSM against XSMO (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/spsm-vs-xsmo)
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