SPY vs XSMO
State Street SPDR S&P 500 ETF Trust vs Invesco S&P SmallCap Momentum ETF
Which is better, SPY or XSMO?
Large Cap Blend against Small Cap Growth.
SPY has a lower expense ratio. SPY led over 1Y, 3Y and 5Y, XSMO over the full window. XSMO is less concentrated, with 23.1% of the fund in its ten largest positions against 37.8%.
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 | SPY | XSMO |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.36% |
| AUM | $804.7B | $2.9B |
| Dividend Yield | 0.98% | 0.57% |
| Holdings | 505 | 113 |
| YTD Return | +13.51% | +13.84%Best |
| 1Y Return | +18.19%Best | +14.81% |
| 3Y Return (annualized) | +23.29%Best | +20.65% |
| 5Y Return (annualized) | +13.21%Best | +9.41% |
| Volatility (annualized) | 15.1%Best | 274.5% |
| Max Drawdown | -56.5%Best | -78.8% |
| $10,000 over 5 years | $18,596Best | $15,678 |
| Top 10 Weight | 37.8% | 23.1%Best |
| Fund Family | State Street Investment Management | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Small Cap Growth |
| Inception | Jan 22, 1993 | Mar 3, 2005 |
Volatility and max drawdown are measured over the window both funds cover: Nov 4, 1998 to Sep 25, 2026 (27.9 years).
SPY vs XSMO 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 27.9 years both funds cover.
SPY vs XSMO Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Invesco S&P SmallCap Momentum ETF (XSMO) is an ETF from Invesco (US). Over the past year SPY returned +18.19% while XSMO returned +14.81%. Year to date, SPY is up 13.51% versus a gain of 13.84% for XSMO.
Over three years, SPY compounded at +23.29% per year against +20.65% for XSMO; over five years the annualized figures are +13.21% and +9.41% respectively. Across the full 28-year window we track, XSMO has the edge at +14.58% annualized vs +7.44%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
XSMO has been the more volatile fund, with annualized monthly volatility of 274.5% compared with 15.1% 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 -56.5% for SPY and -78.8% for XSMO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.14. They move largely independently of each other.
Fees and Cost Over Time
SPY charges 0.09% per year while XSMO charges 0.36%. On a $10,000 position that is $9 vs $36 annually, a gap of $27 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 0.57% for XSMO.
Holdings Overlap
We hold position weights for 504 holdings in SPY and 108 in XSMO, totalling 99.9% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 504 positions we hold weights for in SPY and 108 in XSMO, against full books of 505 and 113.
What only one of them owns
Our book lists 104 positions for XSMO that do not appear in our book for SPY (96.2% of the fund), and 497 for SPY that do not appear in XSMO (99.3%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of SPY and XSMO you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SPY or XSMO?
SPY has an expense ratio of 0.09% while XSMO charges 0.36%. SPY is the cheaper option, by $27 a year on a $10,000 investment.
Which performed better, SPY or XSMO?
Over the past year SPY returned +18.19% vs +14.81% for XSMO, so SPY leads on 1-year performance. Over the longest common window we track (28 years), SPY annualized +7.44% vs +14.58% for XSMO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or XSMO?
XSMO has been the more volatile fund at 274.5% annualized versus 15.1% for SPY. Worst drawdown: SPY -56.5% vs XSMO -78.8%.
Should I hold both SPY and XSMO?
SPY and XSMO have a monthly-return correlation of 0.14, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, SPY or XSMO?
SPY yields 0.98% while XSMO yields 0.57%, so SPY currently pays the higher dividend yield.
Is XSMO better than SPY?
SPY has a lower expense ratio. SPY led over 1Y, 3Y and 5Y, XSMO over the full window. XSMO is less concentrated, with 23.1% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.