BIOPX vs. SPMO
Compare and contrast key facts about Baron Opportunity Fund (BIOPX) and Invesco S&P 500 Momentum ETF (SPMO).
BIOPX is managed by Baron Capital Group, Inc.. It was launched on Feb 29, 2000. SPMO is a passively managed fund by Invesco that tracks the performance of the S&P 500 Momentum Index. It was launched on Oct 9, 2015.
Performance
BIOPX vs. SPMO - Performance Comparison
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BIOPX vs. SPMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BIOPX Baron Opportunity Fund | -8.95% | 19.44% | 39.87% | 49.55% | -42.96% | 11.90% | 88.78% | 40.34% | 8.06% | 40.58% |
SPMO Invesco S&P 500 Momentum ETF | -3.77% | 26.58% | 45.82% | 17.56% | -10.45% | 22.64% | 28.25% | 25.93% | -0.92% | 27.76% |
Returns By Period
In the year-to-date period, BIOPX achieves a -8.95% return, which is significantly lower than SPMO's -3.77% return. Over the past 10 years, BIOPX has outperformed SPMO with an annualized return of 19.59%, while SPMO has yielded a comparatively lower 17.41% annualized return.
BIOPX
- 1D
- 3.58%
- 1M
- -4.64%
- YTD
- -8.95%
- 6M
- -5.34%
- 1Y
- 22.42%
- 3Y*
- 24.52%
- 5Y*
- 7.16%
- 10Y*
- 19.59%
SPMO
- 1D
- 2.13%
- 1M
- -4.40%
- YTD
- -3.77%
- 6M
- -4.53%
- 1Y
- 23.97%
- 3Y*
- 29.27%
- 5Y*
- 17.66%
- 10Y*
- 17.41%
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BIOPX vs. SPMO - Expense Ratio Comparison
BIOPX has a 1.31% expense ratio, which is higher than SPMO's 0.13% expense ratio.
Return for Risk
BIOPX vs. SPMO — Risk / Return Rank
BIOPX
SPMO
BIOPX vs. SPMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baron Opportunity Fund (BIOPX) 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.
| BIOPX | SPMO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.93 | 1.06 | -0.13 |
Sortino ratioReturn per unit of downside risk | 1.50 | 1.60 | -0.10 |
Omega ratioGain probability vs. loss probability | 1.21 | 1.24 | -0.03 |
Calmar ratioReturn relative to maximum drawdown | 1.64 | 1.96 | -0.31 |
Martin ratioReturn relative to average drawdown | 5.38 | 6.90 | -1.52 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BIOPX | SPMO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.93 | 1.06 | -0.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.27 | 0.93 | -0.66 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.79 | 0.87 | -0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.38 | 0.86 | -0.48 |
Correlation
The correlation between BIOPX and SPMO is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
BIOPX vs. SPMO - Dividend Comparison
BIOPX's dividend yield for the trailing twelve months is around 4.65%, more than SPMO's 0.89% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIOPX Baron Opportunity Fund | 4.65% | 4.24% | 4.95% | 0.00% | 0.00% | 8.71% | 6.96% | 7.33% | 5.29% | 15.58% | 13.52% | 10.92% |
SPMO Invesco S&P 500 Momentum ETF | 0.89% | 0.73% | 0.48% | 1.63% | 1.66% | 0.52% | 1.27% | 1.39% | 1.05% | 0.77% | 1.94% | 0.36% |
Drawdowns
BIOPX vs. SPMO - Drawdown Comparison
The maximum BIOPX drawdown since its inception was -67.91%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for BIOPX and SPMO.
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Drawdown Indicators
| BIOPX | SPMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.91% | -30.95% | -36.96% |
Max Drawdown (1Y)Largest decline over 1 year | -14.16% | -12.70% | -1.46% |
Max Drawdown (5Y)Largest decline over 5 years | -51.45% | -22.74% | -28.71% |
Max Drawdown (10Y)Largest decline over 10 years | -51.45% | -30.95% | -20.50% |
Current DrawdownCurrent decline from peak | -11.09% | -7.31% | -3.78% |
Average DrawdownAverage peak-to-trough decline | -16.97% | -4.66% | -12.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.33% | 3.60% | +0.73% |
Volatility
BIOPX vs. SPMO - Volatility Comparison
The current volatility for Baron Opportunity Fund (BIOPX) is 6.73%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 7.22%. This indicates that BIOPX 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.
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Volatility by Period
| BIOPX | SPMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.73% | 7.22% | -0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 14.24% | 12.80% | +1.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.54% | 22.77% | +2.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.84% | 19.08% | +7.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.84% | 20.09% | +4.75% |