BZAI vs. SPMO
BZAI (Blaize Holdings, Inc.) is a stock, while SPMO (Invesco S&P 500 Momentum ETF) is Momentum fund tracking the S&P 500 Momentum Index. Over the past 3 years, BZAI returned -51.07%/yr vs 41.45%/yr for SPMO. At a 0.13 correlation, their price movements are largely independent.
Performance
BZAI vs. SPMO - Performance Comparison
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Returns By Period
In the year-to-date period, BZAI achieves a -36.92% return, which is significantly lower than SPMO's 29.42% return.
BZAI
- 1D
- 1.65%
- 1M
- -16.33%
- 6M
- -42.25%
- YTD
- -36.92%
- 1Y
- -56.23%
- 3Y*
- -51.07%
- 5Y*
- —
- 10Y*
- —
SPMO
- 1D
- 0.44%
- 1M
- 0.99%
- 6M
- 28.65%
- YTD
- 29.42%
- 1Y
- 38.22%
- 3Y*
- 41.45%
- 5Y*
- 21.93%
- 10Y*
- 20.98%
BZAI vs. SPMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BZAI Blaize Holdings, Inc. | -36.92% | -87.00% | 39.79% | 5.61% | 3.67% |
SPMO Invesco S&P 500 Momentum ETF | 29.42% | 26.58% | 45.82% | 17.56% | -2.55% |
Correlation
The correlation between BZAI and SPMO is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jan 31, 2022 | 0.13 |
Over the past year, BZAI and SPMO have become more correlated (0.35) than their long-term average of 0.13, meaning their price movements have been converging.
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Return for Risk
BZAI vs. SPMO — Risk / Return Rank
BZAI
SPMO
BZAI vs. SPMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Blaize Holdings, Inc. (BZAI) 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.
| BZAI | SPMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.16 | ||
| Sortino ratioReturn per unit of downside risk | -2.34 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.32 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.70 | 3.00 | -3.70 |
| Martin ratioReturn relative to average drawdown | -0.96 | 10.76 | -11.72 |
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Drawdowns
BZAI vs. SPMO - Drawdown Comparison
The maximum BZAI drawdown since its inception was -93.20%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for BZAI and SPMO.
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Drawdown Indicators
| BZAI | SPMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.20% | -30.95% | -62.25% |
Max Drawdown (1Y)Largest decline over 1 year | -83.78% | -12.70% | -71.08% |
Max Drawdown (3Y)Largest decline over 3 years | -93.20% | -20.13% | -73.07% |
Max Drawdown (5Y)Largest decline over 5 years | — | -22.74% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -30.95% | — |
Current DrawdownCurrent decline from peak | -91.80% | -4.89% | -86.91% |
Average DrawdownAverage peak-to-trough decline | -27.64% | -4.59% | -23.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 60.85% | 3.53% | +57.32% |
Volatility
BZAI vs. SPMO - Volatility Comparison
Blaize Holdings, Inc. (BZAI) has a higher volatility of 27.24% compared to Invesco S&P 500 Momentum ETF (SPMO) at 12.52%. This indicates that BZAI'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
| BZAI | SPMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 27.24% | 12.52% | +14.72% |
Volatility (6M)Calculated over the trailing 6-month period | 97.20% | 19.60% | +77.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 137.47% | 22.01% | +115.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 86.30% | 20.20% | +66.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 86.30% | 20.77% | +65.53% |
Dividends
BZAI vs. SPMO - Dividend Comparison
BZAI has not paid dividends to shareholders, while SPMO's dividend yield for the trailing twelve months is around 0.68%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BZAI Blaize Holdings, Inc. | 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 | 0.68% | 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
BZAI and SPMO have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BZAI has higher volatility (27.24%) compared to SPMO (12.52%). In terms of maximum drawdown, BZAI dropped -93.20% vs SPMO's -30.95%.
SPMO currently has the higher Sharpe Ratio (1.73 vs -0.42), 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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