TMSL vs XMHQ: Differences, Returns & Fees
TMSL and XMHQ hold 11% of their weight in the same names, and TMSL returned +16.9% over the year. Net assets on Oct 20, 2026: $3.1bn for T. Rowe Price Small-Mid Cap ETF and $5.6bn for Invesco S&P MidCap Quality ETF.
XMHQ costs 0.30 points a year less; their one-year returns differ by 5.1 points; XMHQ is 1.8 times larger.
| TMSL | XMHQ | |
|---|---|---|
| Expense ratio | 0.55% | 0.25% |
| Net assets | $3.1bn | $5.6bn |
| Total return, 1 year | +16.9% | +11.8% |
| What it tracks | No index, actively managed | S&P MidCap 400 Quality Index |
| Holdings in common | 11% | |
| Top ten holdings, share of the fund | 9.8% | 30.4% |
| Below its high | 8.3%, high on Aug 14, 2026 | 3.0%, high on Aug 14, 2026 |
Holdings in common uses holdings dated Jun 30, 2026 and Oct 19, 2026.
What they hold in common
By the books each fund has filed, TMSL and XMHQ hold 11% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Oct 19, 2026.
half
11% in common
On the same fields
TMSL and XMHQ on the fields both publish, as of Oct 20, 2026. Source: ETFIQ.
About TMSL
TMSL is actively managed and tracks no index. The prospectus expense ratio is 0.55% a year. By its holdings filed for Jun 30, 2026, 15% of the fund by weight is stocks the S&P 500 also holds, across 297 positions, with the top ten at 9.8%. It sat 8.3% below its high of Aug 14, 2026 on Oct 20, 2026.
Over the year to Oct 20, 2026 it returned +16.9% with distributions reinvested, against +15.0% for its benchmark, the Russell 3000 Index.
About XMHQ
XMHQ tracks an index. Over the year to Oct 20, 2026 it returned +11.8% with distributions reinvested. The prospectus expense ratio is 0.25% a year. By its holdings published by its issuer for Oct 19, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 82 positions, with the top ten at 30.4%. It sat 3.0% below its high of Aug 14, 2026 on Oct 20, 2026.
Questions people ask
- Which returned more over the last year, TMSL or XMHQ?
- In the year to Oct 20, 2026, with distributions reinvested, TMSL returned +16.9% and XMHQ +11.8%.
- Which is cheaper, TMSL or XMHQ?
- XMHQ is cheaper, by 0.30 percentage points a year. That is about $30 on $10,000 held for a year. Fees come from each fund's prospectus.
ETFIQ links to the documents behind every figure; a link is not an endorsement. 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, TMSL against XMHQ, data as of Oct 20, 2026. https://etfiq.com/compare/any/tmsl-vs-xmhq
ETFIQ. (Oct 20, 2026). TMSL against XMHQ. Retrieved from https://etfiq.com/compare/any/tmsl-vs-xmhq
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