SPMO vs SPY
Invesco S&P 500 Momentum ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPMO delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SPMO | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.13% | 0.09% | |
| AUM | $22.1B | $814.4B | |
| Dividend Yield | 0.73% | 1.01% | |
| Holdings | 101 | 505 | |
| YTD Return | +22.82% | +12.60% | |
| 1Y Return | +27.70% | +20.83% | |
| 3Y Return (annualized) | +36.81% | +20.98% | |
| 5Y Return (annualized) | +19.47% | +12.56% | |
| Volatility (annualized) | 17.5% | 15.3% | |
| Max Drawdown | -31.3% | -56.5% | |
| Fund Family | Invesco (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Oct 9, 2015 | Jan 22, 1993 |
SPMO vs SPY Performance
Invesco S&P 500 Momentum ETF (SPMO) is a ETF from Invesco (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year SPMO returned +27.70% while SPY returned +20.83%. Year to date, SPMO is up 22.82% versus a gain of 12.60% for SPY.
Over three years, SPMO compounded at +36.81% per year against +20.98% for SPY; over five years the annualized figures are +19.47% and +12.56% respectively. Across the full 11-year window we track, SPMO has the edge at +18.16% annualized vs +8.79%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPMO has been the more volatile fund, with annualized monthly volatility of 17.5% 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 -31.3% for SPMO 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 0.85. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPMO charges 0.13% per year while SPY charges 0.09%. On a $10,000 position that is $13 vs $9 annually, a gap of $4 per year that compounds over a long holding period. On income, SPMO currently yields 0.73% against 1.01% for SPY.
Holdings Overlap
SPMO and SPY share 98 holdings out of 506 unique holdings combined, representing a 36.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPMO or SPY?
SPMO has an expense ratio of 0.13% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $4 per year of difference.
Which performed better, SPMO or SPY?
Over the past year SPMO returned +27.70% vs +20.83% for SPY, so SPMO leads on 1-year performance. Over the longest common window we track (11 years), SPMO annualized +18.16% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, SPMO or SPY?
SPMO has been the more volatile fund at 17.5% annualized versus 15.3% for SPY. Worst drawdown: SPMO -31.3% vs SPY -56.5%.
Should I hold both SPMO and SPY?
SPMO and SPY have a monthly-return correlation of 0.85, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPMO and SPY?
SPMO and SPY share 98 common holdings with a 36.6% weight overlap. Combined, they hold 506 unique securities.
Which pays a higher dividend, SPMO or SPY?
SPMO yields 0.73% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.