Looking for broad exposure to the Mid Cap Value segment of the US equity market? You should consider the Invesco S&P MidCap Value with Momentum ETF (XMVM), a passively managed exchange traded fund launched on March 3, 2005.
The fund is sponsored by Invesco. It has amassed assets over $496.35 million, making it one of the average sized ETFs attempting to match the Mid Cap Value segment of the US equity market.
Why Mid Cap Value
Compared to large and small cap companies, mid cap businesses tend to have higher growth prospects and are less volatile, respectively, with market capitalization between $2 billion and $10 billion. Thus, companies that fall under this category provide a stable and growth-heavy investment.
Value stocks have lower than average price-to-earnings and price-to-book ratios. They also have lower than average sales and earnings growth rates. When you look at long-term performance, value stocks have outperformed growth stocks in nearly all markets. But in strong bull markets, growth stocks are more likely to be winners.
Costs
Since cheaper funds tend to produce better results than more expensive funds, assuming all other factors remain equal, it is important for investors to pay attention to an ETF’s expense ratio.
Annual operating expenses for this ETF are 0.39%, putting it on par with most peer products in the space.
It has a 12-month trailing dividend yield of 1.93%.
Sector Exposure and Top Holdings
Even though ETFs offer diversified exposure that minimizes single stock risk, investors should also look at the actual holdings inside the fund. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.
This ETF has heaviest allocation to the Financials sector — about 36.2% of the portfolio. Energy and Consumer Discretionary round out the top three.
Looking at individual holdings, Pbf Energy Inc (PBF) accounts for about 4.19% of total assets, followed by Hf Sinclair Corp (DINO) and Macy’s Inc (M).
The top 10 holdings account for about 22.28% of total assets under management.
Performance and Risk
XMVM seeks to match the performance of the S&P MIDCAP 400 HIGH MOMENTUM VALUE INDEX before fees and expenses. The S&P MidCap 400 High Momentum Value Index is composed of securities with strong value characteristics selected from the Russell Midcap Index.
The ETF has added roughly 11.3% so far this year and is up roughly 16.47% in the last one year (as of 09/30/2026). In the past 52-week period, it has traded between $58.42 and $75.86.