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MGV vs XMMO

Vanguard Morningstar Mega Cap Value ETF

MGVANYSE Arca

Invesco S&P MidCap Momentum ETF

XMMOCNYSE Arca

Overlap

Expense ratio

MGV −0.29pt a year

MGV0.05%XMMO0.34%

Avg volume · 30D

XMMO 1.5×the volume

MGV247KXMMO382K

10Y return · a year

XMMO +3.8pt

MGV+13.3%XMMO+17.1%

MGV vs XMMO Performance

Oct 29, 2021 – Oct 30, 2026

+83.6%MGV+56.3%XMMO

Oct 29, 2021 to Oct 30, 2026. MGV +83.6%. XMMO +56.3%. Use the arrow keys to read each point.−25%0%25%100%Oct 2021Apr 2024Oct 2026
Expense ratio
MGV 0.05%, better
XMMO 0.34%
Fund size
MGV $13.6B
XMMO $6.54B
1Y total return
MGV +25.6%, better
XMMO +0.7%
Yield (12M)
MGV 1.82%, better
XMMO 0.72%
Holdings
MGV 117
XMMO 78
Avg volume (30D)
MGV 247K sh
XMMO 382K sh, better
NAV per share
MGV $168.92
XMMO $136.16
52W range

ETF.net Grade

MGV: Cost 100, Risk 92, Mission 67, Tradability 49, Holdings 57, Durability 90. XMMO: Cost 43, Risk 15, Mission 63, Tradability 77, Holdings 58, Durability 74.
Pillar letters and Scores for MGV, XMMO, with each pillar’s weight
PillarMGVXMMO
Cost30% weightA100HigherC43
Mission25% weightB67HigherB63
Risk15% weightA92HigherF15
Tradability15% weightC49A77Higher
Holdings10% weightB57B58Higher
Durability5% weightA90HigherA74

Rank among US Factor Index funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. MGV and XMMO are both graded against the same 30 US Factor Index funds, so their Grades compare head to head.

US Factor Index⁠

Category · 30 funds
See all 30 ›

MGV ranks 1st and XMMO 15th of 30 funds in the US Factor Index Category.

  1. Rank 1AMGVVanguard Morningstar Mega Cap Value ETFScore 78
  2. Rank 2AUSCAXtrackers MSCI USA Climate Action Equity ETFScore 74
  3. Rank 14CEQRRProShares Equities for Rising Rates ETFScore 52
  4. Rank 15CXMMOInvesco S&P MidCap Momentum ETFScore 51
  5. Rank 15CXSMOInvesco S&P SmallCap Momentum ETFScore 51

Our read on each fund

ETF.net Research

MGVAVanguard Morningstar Mega Cap Value ETF

XMMOCInvesco S&P MidCap Momentum ETF

In short

MGV Most "value" ETFs slide down into mid caps. MGV stays at the very top of the US market and buys the value half of it for five basis points. Vanguard's plain, cheap way to own the old-guard giants.

XMMO Momentum, aimed at the middle of the market. Since 2005 XMMO has screened the S&P MidCap 400 for the strongest price trends and keeps roughly 80 of them, refreshing the list twice a year. A concentrated bet on what's already working.

Stated mandate

MGV The ETF seeks to track the Morningstar US Mega Cap Value Index and provides passive, diversified exposure to the largest value stocks in the U.S. market.

XMMO The Fund is based on the S&P Midcap 400 Momentum Index.

Why people hold it

  • MGV At 0.05% it is the cheapest fund in its factor peer group, where the median charges 0.28%. It undercuts fellow top-rated peers SIZE (0.15%) and SUSA (0.25%).vanguard.com
  • Launched December 2007, straight into the crash, and now a multi-billion-dollar fund. Long history, quarterly distributions, Vanguard plumbing behind it.
  • One of the strongest overall showings in its US factor peer group, built on cost and staying power rather than a clever screen.
  • XMMO Launched in 2005, it is one of the longest-running momentum ETFs listed in the US, and it runs the factor inside mid caps instead of the usual mega-cap universe.
  • The rule is spelled out: S&P ranks momentum over 12 months while skipping the most recent one (dodging short-term reversals), adjusts the score for volatility, and rebalances in March and September.spglobal.com
  • 0.34% a year puts it right at the going rate for a factor fund in its peer group, and it is a multi-billion-dollar fund with steady enough volume for everyday trading.
  • It tracks its stated index closely and has held the same mandate for two decades, which lands it in the upper half of its factor cohort on implementation.

Worth knowing

  • MGV About 130 names, all mega caps. The biggest holdings carry real weight, and small and mid caps are absent by design.
  • It tracks a Morningstar index of the largest US value stocks, so it leaves out the market's growth giants and can move very differently from a total-market fund.vanguard.com
  • Moderately traded rather than a household-name ticker, so limit orders and mid-session trading matter more here than with the very largest index ETFs.
  • XMMO About 80 names out of a 400-stock parent index. That concentration cuts both ways, and sector weights can drift wherever momentum happens to be crowding.
  • Momentum by design buys what has already climbed, and the list only resets twice a year, so the portfolio can sit with a fading trend between rebalances.spglobal.com
  • Mid caps plus a momentum tilt is a bumpier ride than broad-market exposure, and cheaper factor options exist (SIZE at 0.15%, MGV at 0.05%).

Full MGV profile⁠

Full XMMO profile⁠

MGV vs XMMO Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

MGV vs XMMO Cost

Overpaying XMMO vs MGV

$5,872

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • MGV 0.05%

    $1,060

  • XMMO 0.34%

    $6,932

$10,000
30 years

Cost over time

  • MGV 0.05%
  • XMMO 0.34%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K051015202530XMMO $6,932MGV $1,060

Year by year

YearMGVXMMOOverpaying
10$92$616$524
20$360$2,386$2,026
30$1,060$6,932$5,872

Expense ratio

  • 0.05%MGV, cheaper
  • 0.34%XMMO
  • Middle half of US Factor Index funds
  • Median 0.30%

MGV cheapest of 30 funds

XMMO 17th cheapest of 30 funds

MGV vs XMMO Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
MGV 1.82%, better
XMMO 0.72%
Payout (12M)
MGV $3.07
XMMO $0.98
Last payment
MGV $0.72
XMMO $0.25
Ex-dividend
MGV Sep 28, 2026
XMMO Sep 21, 2026
Paid on
MGV Sep 30, 2026
XMMO Sep 25, 2026
Frequency
MGV Quarterly
XMMO Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

MGVQuarterly · 39 paymentsAll MGV payments⁠
One bar per payment. 39 payments from 2017 to 2026 YTD. Mar 29, 2017 $0.39; Jun 23, 2017 $0.41; Sep 27, 2017 $0.51; Dec 26, 2017 $0.47; Mar 22, 2018 $0.42; Jun 28, 2018 $0.46; Sep 28, 2018 $0.50; Dec 24, 2018 $0.51; Mar 25, 2019 $0.60; Jun 27, 2019 $0.57; Oct 1, 2019 $0.57; Dec 24, 2019 $0.60; Mar 26, 2020 $0.51; Jun 25, 2020 $0.53; Sep 11, 2020 $0.46; Dec 24, 2020 $0.65; Mar 26, 2021 $0.49; Jun 24, 2021 $0.55; Sep 29, 2021 $0.62; Dec 27, 2021 $0.66; Mar 24, 2022 $0.55; Jun 23, 2022 $0.60; Sep 28, 2022 $0.68; Dec 22, 2022 $0.70; Mar 23, 2023 $0.59; Jun 23, 2023 $0.66; Sep 21, 2023 $0.68; Dec 21, 2023 $0.77; Mar 21, 2024 $0.70; Jun 27, 2024 $0.73; Sep 26, 2024 $0.72; Dec 23, 2024 $0.72; Mar 27, 2025 $0.68; Jun 30, 2025 $0.68; Sep 29, 2025 $0.70; Dec 22, 2025 $0.82; Mar 27, 2026 $0.79; Jun 26, 2026 $0.73; Sep 28, 2026 $0.72. Use the arrow keys to read each point.$0$0.502017202020232026YTD
XMMOQuarterly · 34 paymentsAll XMMO payments⁠
One bar per payment. 34 payments from 2017 to 2026 YTD. Mar 17, 2017 $0.04; Jun 16, 2017 $0.05; Sep 24, 2018 $0.03; Dec 24, 2018 $0.06; Jun 24, 2019 $0.01; Sep 23, 2019 $0.18; Dec 23, 2019 $0.17; Mar 23, 2020 $0.19; Jun 22, 2020 $0.09; Sep 21, 2020 $0.16; Dec 21, 2020 $0.04; Mar 22, 2021 $0.05; Jun 21, 2021 $0.03; Sep 20, 2021 $0.04; Dec 20, 2021 $0.25; Mar 21, 2022 $0.22; Jun 21, 2022 $0.26; Sep 19, 2022 $0.33; Dec 19, 2022 $0.27; Mar 20, 2023 $0.32; Jun 20, 2023 $0.12; Sep 18, 2023 $0.15; Dec 18, 2023 $0.13; Mar 18, 2024 $0.10; Jun 24, 2024 $0.05; Sep 23, 2024 $0.11; Dec 23, 2024 $0.15; Mar 24, 2025 $0.30; Jun 23, 2025 $0.31; Sep 22, 2025 $0.23; Dec 22, 2025 $0.23; Mar 23, 2026 $0.25; Jun 22, 2026 $0.25; Sep 21, 2026 $0.25. Use the arrow keys to read each point.$0$0.502017202020232026YTD

MGV vs XMMO Risk

Fall from peak · 5 years

  • MGV
  • XMMO
Oct 29, 2021 to Oct 30, 2026. Worst fall: XMMO −27.9% · Sep 2022. Use the arrow keys to read each point.−30%−20%−10%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
MGV 11.1%, betterXMMO 20.0%
Return per unit of riskSharpe ratio, 3 years
MGV 1.48, betterXMMO 0.88
Worst fallMax drawdown, 5 years
MGV −16.5%, betterXMMO −27.9%
Market sensitivityBeta, 5 years
MGV 0.66XMMO 1.11

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