AXP vs. SPMO

Last updated Jun 13, 2026

AXP (American Express Company) is a stock, while SPMO (Invesco S&P 500 Momentum ETF) is Momentum fund tracking the S&P 500 Momentum Index. Over the past 10 years, AXP returned 19.88%/yr vs 20.86%/yr for SPMO. At a 0.49 correlation, their price movements are largely independent.

Performance

AXP vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Express Company (AXP) and Invesco S&P 500 Momentum ETF (SPMO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AXP achieves a -11.56% return, which is significantly lower than SPMO's 28.15% return. Both investments have delivered pretty close results over the past 10 years, with AXP having a 19.88% annualized return and SPMO not far ahead at 20.86%.

AXP

• 1D: 2.18%
• 1M: 3.82%
• YTD: -11.56%
• 6M: -14.47%
• 1Y: 14.27%
• 3Y*: 24.40%
• 5Y*: 16.02%
• 10Y*: 19.88%

SPMO

• 1D: 1.26%
• 1M: 6.27%
• YTD: 28.15%
• 6M: 28.70%
• 1Y: 44.90%
• 3Y*: 41.53%
• 5Y*: 23.50%
• 10Y*: 20.86%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AXP vs. SPMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AXP American Express Company	-11.56%	25.99%	60.32%	28.67%	-8.52%	36.88%	-1.14%	32.52%	-2.62%	36.22%
SPMO Invesco S&P 500 Momentum ETF	28.15%	26.58%	45.82%	17.56%	-10.45%	22.64%	28.25%	25.93%	-0.92%	27.76%

Correlation

The correlation between AXP and SPMO is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (10Y) Calculated over the trailing 10-year period	0.51
Correlation (All Time) Calculated using the full available price history since Oct 12, 2015	0.49

The correlation between AXP and SPMO shifts across timeframes, from 0.39 (1 year) to 0.56 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

AXP vs. SPMO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AXP

AXP Risk / Return Rank: 52
AXP Sharpe Ratio Rank: 57
AXP Sortino Ratio Rank: 49
AXP Omega Ratio Rank: 49
AXP Calmar Ratio Rank: 53
AXP Martin Ratio Rank: 53

SPMO

SPMO Risk / Return Rank: 79
SPMO Sharpe Ratio Rank: 81
SPMO Sortino Ratio Rank: 78
SPMO Omega Ratio Rank: 80
SPMO Calmar Ratio Rank: 77
SPMO Martin Ratio Rank: 78

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AXP vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Express Company (AXP) and Invesco S&P 500 Momentum ETF (SPMO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AXP	SPMO	Difference
Sharpe ratio: Return per unit of total volatility	0.39	2.24	-1.85
Sortino ratio: Return per unit of downside risk	0.69	2.98	-2.29
Omega ratio: Gain probability vs. loss probability	1.09	1.41	-0.32
Calmar ratio: Return relative to maximum drawdown	0.44	3.44	-3.00
Martin ratio: Return relative to average drawdown	0.93	13.01	-12.08

AXP vs. SPMO - Sharpe Ratio Comparison

The current AXP Sharpe Ratio is 0.39, which is lower than the SPMO Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of AXP and SPMO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AXP vs. SPMO - Drawdown Comparison

The maximum AXP drawdown since its inception was -83.91%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for AXP and SPMO.

Drawdown Indicators

	AXP	SPMO	Difference
Max Drawdown Largest peak-to-trough decline	-83.91%	-30.95%	-52.96%
Max Drawdown (1Y) Largest decline over 1 year	-23.90%	-12.70%	-11.20%
Max Drawdown (3Y) Largest decline over 3 years	-28.76%	-20.13%	-8.63%
Max Drawdown (5Y) Largest decline over 5 years	-31.55%	-22.74%	-8.81%
Max Drawdown (10Y) Largest decline over 10 years	-49.64%	-30.95%	-18.69%
Current Drawdown Current decline from peak	-14.99%	-1.68%	-13.31%
Average Drawdown Average peak-to-trough decline	-22.05%	-4.60%	-17.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.15%	3.35%	+7.80%

Volatility

AXP vs. SPMO - Volatility Comparison

The current volatility for American Express Company (AXP) is 6.90%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 10.29%. This indicates that AXP experiences smaller price fluctuations and is considered to be less risky than SPMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AXP	SPMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.90%	10.29%	-3.39%
Volatility (6M) Calculated over the trailing 6-month period	20.01%	16.73%	+3.28%
Volatility (1Y) Calculated over the trailing 1-year period	26.46%	19.48%	+6.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.50%	19.65%	+9.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.83%	20.48%	+11.35%

Dividends

AXP vs. SPMO - Dividend Comparison

AXP's dividend yield for the trailing twelve months is around 1.05%, more than SPMO's 0.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AXP American Express Company	1.05%	0.85%	0.91%	1.24%	1.35%	1.05%	1.42%	1.29%	1.51%	1.32%	1.61%	1.58%
SPMO Invesco S&P 500 Momentum ETF	0.67%	0.73%	0.48%	1.63%	1.66%	0.52%	1.27%	1.39%	1.05%	0.77%	1.94%	0.36%

Frequently Asked Questions

Can I hold both AXP and SPMO in my portfolio?

AXP and SPMO have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AXP or SPMO?

SPMO has higher volatility (10.29%) compared to AXP (6.90%). In terms of maximum drawdown, AXP dropped -83.91% vs SPMO's -30.95%.

Which has better risk-adjusted returns?

SPMO currently has the higher Sharpe Ratio (2.24 vs 0.39), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.