IMOM vs SPY
Alpha Architect International Quantitative Momentum ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. IMOM delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | IMOM | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.38% | 0.09% | |
| AUM | $155M | $789.1B | |
| Dividend Yield | 2.24% | 1.01% | |
| Holdings | 56 | 505 | |
| YTD Return | +6.93% | +13.39% | |
| 1Y Return | +23.40% | +22.52% | |
| 3Y Return (annualized) | +21.48% | +21.36% | |
| 5Y Return (annualized) | +6.03% | +13.19% | |
| Volatility (annualized) | 18.1% | 15.3% | |
| Max Drawdown | -45.7% | -56.5% | |
| Fund Family | Alpha Architect | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Dec 22, 2015 | Jan 22, 1993 |
IMOM vs SPY Performance
Alpha Architect International Quantitative Momentum ETF (IMOM) is a ETF from Alpha Architect and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year IMOM returned +23.40% while SPY returned +22.52%. Year to date, IMOM is up 6.93% versus a gain of 13.39% for SPY.
Over three years, IMOM compounded at +21.48% per year against +21.36% for SPY; over five years the annualized figures are +6.03% and +13.19% respectively. Across the full 11-year window we track, SPY has the edge at +8.84% annualized vs +6.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IMOM has been the more volatile fund, with annualized monthly volatility of 18.1% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -45.7% for IMOM and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IMOM charges 0.38% per year while SPY charges 0.09%. On a $10,000 position that is $38 vs $9 annually, a gap of $29 per year that compounds over a long holding period. On income, IMOM currently yields 2.24% against 1.01% for SPY.
Holdings Overlap
IMOM and SPY share 0 holdings out of 554 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IMOM or SPY?
IMOM has an expense ratio of 0.38% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $29 per year of difference.
Which performed better, IMOM or SPY?
Over the past year IMOM returned +23.40% vs +22.52% for SPY, so IMOM leads on 1-year performance. Over the longest common window we track (11 years), IMOM annualized +6.85% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, IMOM or SPY?
IMOM has been the more volatile fund at 18.1% annualized versus 15.3% for SPY. Worst drawdown: IMOM -45.7% vs SPY -56.5%.
Should I hold both IMOM and SPY?
IMOM and SPY have a monthly-return correlation of 0.77, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IMOM and SPY?
IMOM and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 554 unique securities.
Which pays a higher dividend, IMOM or SPY?
IMOM yields 2.24% while SPY yields 1.01%, so IMOM currently pays the higher dividend yield.
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