SPMO vs SPY
Invesco S&P 500 Momentum ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, SPMO or SPY?
Large Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. SPMO led over 1Y, 3Y, 5Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 51.7%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | SPMO | SPY |
|---|---|---|
| Expense Ratio | 0.13% | 0.09%Best |
| AUM | $22.0B | $804.7B |
| Dividend Yield | 0.71% | 0.98% |
| Holdings | 101 | 505 |
| YTD Return | +27.72%Best | +12.89% |
| 1Y Return | +26.73%Best | +17.01% |
| 3Y Return (annualized) | +39.09%Best | +22.46% |
| 5Y Return (annualized) | +20.56%Best | +13.01% |
| Volatility (annualized) | 17.5% | 15.0%Best |
| Max Drawdown | -31.3%Best | -34.1% |
| $10,000 over 5 years | $25,469Best | $18,433 |
| Top 10 Weight | 51.7% | 37.8%Best |
| Fund Family | Invesco (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Oct 9, 2015 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Oct 12, 2015 to Sep 24, 2026 (11 years).
SPMO vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 11 years both funds cover.
SPMO vs SPY Performance
Invesco S&P 500 Momentum ETF (SPMO) is an ETF from Invesco (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year SPMO returned +26.73% while SPY returned +17.01%. Year to date, SPMO is up 27.72% versus a gain of 12.89% for SPY.
Over three years, SPMO compounded at +39.09% per year against +22.46% for SPY; over five years the annualized figures are +20.56% and +13.01% respectively. Across the full 11-year window we track, SPMO has the edge at +18.47% annualized vs +13.75%.
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 15.0% 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 -34.1% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
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 0.71% against 0.98% for SPY.
Holdings Overlap
99.5% of SPMO's money is in holdings SPY also owns. 35.6% of SPY's money is in holdings SPMO also owns.
Most of SPMO is already inside SPY. Owning both mostly buys the same companies twice.
98 positions in common, counted across the 100 positions we hold weights for in SPMO and 504 in SPY, against full books of 101 and 505.
What only one of them owns
Measured across the 100 and 504 positions we hold weights for.
SPY holds 399 positions SPMO does not, 63.7% of the fund.
Largest: AAPL 7.26%, MSFT 5.66%, AMZN 3.79%, META 1.93%, TSLA 1.52%
Top Shared Holdings
| Stock | Weight in SPMO | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 9.04% | 8.01% | 1.03% |
| MUMicron Technology, Inc. | 10.83% | 1.60% | 9.23% |
| AVGOBroadcom Inc | 6.42% | 2.66% | 3.76% |
| GOOGLAlphabet Inc,class A | 4.39% | 2.99% | 1.40% |
| GOOGAlphabet Inc | 3.47% | 2.39% | 1.08% |
| JNJJohnson & Johnson - Common | 4.67% | 0.99% | 3.68% |
| AMDAdvanced Micro Devices Inc | 3.86% | 1.14% | 2.72% |
| XOMExxon Mobil Corp. | 3.17% | 1.04% | 2.13% |
| LRCXLrcx Uw Equity | 3.43% | 0.55% | 2.88% |
| INTCIntel Corporation | 2.36% | 0.67% | 1.69% |
99.5% of SPMO is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
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, by $4 a year on a $10,000 investment.
Which performed better, SPMO or SPY?
Over the past year SPMO returned +26.73% vs +17.01% for SPY, so SPMO leads on 1-year performance. Over the longest common window we track (11 years), SPMO annualized +18.47% vs +13.75% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPMO or SPY?
SPMO has been the more volatile fund at 17.5% annualized versus 15.0% for SPY. Worst drawdown: SPMO -31.3% vs SPY -34.1%.
Should I hold both SPMO and SPY?
SPMO and SPY have a monthly-return correlation of 0.85, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between SPMO and SPY?
99.5% of SPMO's money is in holdings SPY also owns. 35.6% of SPY's is in holdings SPMO also owns. They hold 98 positions in common, counted across the 100 positions we hold weights for in SPMO and 504 in SPY.
Which pays a higher dividend, SPMO or SPY?
SPMO yields 0.71% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than SPMO?
SPY has a lower expense ratio. SPMO led over 1Y, 3Y, 5Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 51.7%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.