BLSH vs. SPMO

Last updated Apr 2, 2026

Compare and contrast key facts about Bullish (BLSH) and Invesco S&P 500 Momentum ETF (SPMO).

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

BLSH vs. SPMO - Performance Comparison

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

BLSH vs. SPMO - Yearly Performance Comparison

	2026 (YTD)	2025
BLSH Bullish	-7.39%	-44.31%
SPMO Invesco S&P 500 Momentum ETF	-3.77%	1.65%

Returns By Period

In the year-to-date period, BLSH achieves a -7.39% return, which is significantly lower than SPMO's -3.77% return.

BLSH

• 1D: -1.85%
• 1M: 3.73%
• YTD: -7.39%
• 6M: -42.33%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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%

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

Return for Risk

BLSH vs. SPMO — Risk / Return Rank

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

SPMO

SPMO Risk / Return Rank: 64
SPMO Sharpe Ratio Rank: 57
SPMO Sortino Ratio Rank: 60
SPMO Omega Ratio Rank: 63
SPMO Calmar Ratio Rank: 73
SPMO Martin Ratio Rank: 66

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.

BLSH vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bullish (BLSH) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	BLSH	SPMO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.06	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.93	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.80	0.86	-1.66

Correlation

The correlation between BLSH and SPMO is 0.45, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

BLSH vs. SPMO - Dividend Comparison

BLSH has not paid dividends to shareholders, while SPMO's dividend yield for the trailing twelve months is around 0.89%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BLSH Bullish	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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

BLSH vs. SPMO - Drawdown Comparison

The maximum BLSH drawdown since its inception was -66.64%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for BLSH and SPMO.

Drawdown Indicators

	BLSH	SPMO	Difference
Max Drawdown Largest peak-to-trough decline	-66.64%	-30.95%	-35.69%
Max Drawdown (1Y) Largest decline over 1 year	—	-12.70%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-22.74%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-30.95%	—
Current Drawdown Current decline from peak	-53.01%	-7.31%	-45.70%
Average Drawdown Average peak-to-trough decline	-38.41%	-4.66%	-33.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.60%	—

Volatility

Volatility by Period

	BLSH	SPMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.22%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.80%	—
Volatility (1Y) Calculated over the trailing 1-year period	81.85%	22.77%	+59.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	81.85%	19.08%	+62.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	81.85%	20.09%	+61.76%