BTC-USD vs. SPMO
BTC-USD (Bitcoin) is a cryptocurrency, while SPMO (Invesco S&P 500 Momentum ETF) is Momentum fund tracking the S&P 500 Momentum Index. Over the past 10 years, BTC-USD returned 57.32%/yr vs 20.86%/yr for SPMO. At a 0.17 correlation, their price movements are largely independent.
Performance
BTC-USD vs. SPMO - Performance Comparison
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Returns By Period
In the year-to-date period, BTC-USD achieves a -27.32% return, which is significantly lower than SPMO's 28.15% return. Over the past 10 years, BTC-USD has outperformed SPMO with an annualized return of 57.32%, while SPMO has yielded a comparatively lower 20.86% annualized return.
BTC-USD
- 1D
- 0.05%
- 1M
- -19.79%
- YTD
- -27.32%
- 6M
- -29.56%
- 1Y
- -39.85%
- 3Y*
- 34.86%
- 5Y*
- 10.27%
- 10Y*
- 57.32%
SPMO
- 1D
- 1.26%
- 1M
- 4.23%
- YTD
- 28.15%
- 6M
- 28.70%
- 1Y
- 43.47%
- 3Y*
- 41.53%
- 5Y*
- 23.50%
- 10Y*
- 20.86%
BTC-USD vs. SPMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BTC-USD Bitcoin | -27.32% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
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 BTC-USD and SPMO is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 2015 | 0.17 |
The correlation between BTC-USD and SPMO shifts across timeframes, from 0.17 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BTC-USD vs. SPMO — Risk / Return Rank
BTC-USD
SPMO
BTC-USD vs. SPMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitcoin (BTC-USD) 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.
| BTC-USD | SPMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.17 | ||
| Sortino ratioReturn per unit of downside risk | -4.29 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.41 | -0.54 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | 3.44 | -4.22 |
| Martin ratioReturn relative to average drawdown | -1.36 | 13.01 | -14.37 |
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Drawdowns
BTC-USD vs. SPMO - Drawdown Comparison
The maximum BTC-USD drawdown since its inception was -85.30%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for BTC-USD and SPMO.
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Drawdown Indicators
| BTC-USD | SPMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.30% | -30.95% | -54.35% |
Max Drawdown (1Y)Largest decline over 1 year | -51.21% | -12.70% | -38.51% |
Max Drawdown (3Y)Largest decline over 3 years | -51.21% | -20.13% | -31.08% |
Max Drawdown (5Y)Largest decline over 5 years | -76.67% | -22.74% | -53.93% |
Max Drawdown (10Y)Largest decline over 10 years | -83.80% | -30.95% | -52.85% |
Current DrawdownCurrent decline from peak | -49.01% | -1.68% | -47.33% |
Average DrawdownAverage peak-to-trough decline | -42.35% | -4.60% | -37.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.02% | 3.35% | +31.67% |
Volatility
BTC-USD vs. SPMO - Volatility Comparison
Bitcoin (BTC-USD) has a higher volatility of 12.11% compared to Invesco S&P 500 Momentum ETF (SPMO) at 10.29%. This indicates that BTC-USD's price experiences larger fluctuations and is considered to be riskier 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
| BTC-USD | SPMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.11% | 10.29% | +1.82% |
Volatility (6M)Calculated over the trailing 6-month period | 34.59% | 16.73% | +17.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.62% | 19.48% | +16.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.71% | 19.65% | +25.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.62% | 20.48% | +36.14% |
Frequently Asked Questions
BTC-USD and SPMO have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTC-USD has higher volatility (12.11%) compared to SPMO (10.29%). In terms of maximum drawdown, BTC-USD dropped -85.30% vs SPMO's -30.95%.
SPMO currently has the higher Sharpe Ratio (2.24 vs -0.93), 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.
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