CAEM.TO vs. SPMO

Last updated Jun 24, 2026

CAEM.TO (Avantis CIBC Emerging Markets Equity ETF) and SPMO (Invesco S&P 500 Momentum ETF) are both exchange-traded funds - CAEM.TO is a Emerging Markets Equities fund actively managed by CIBC, while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. CAEM.TO is actively managed, while SPMO is passively managed. Their correlation of 0.81 suggests significant overlap in exposure.

Performance

CAEM.TO vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Avantis CIBC Emerging Markets Equity ETF (CAEM.TO) and Invesco S&P 500 Momentum ETF (SPMO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CAEM.TO is traded in CAD, while SPMO is traded in USD. To make them comparable, the SPMO values have been converted to CAD using the latest available exchange rates.

Returns By Period

CAEM.TO

• 1D: -4.49%
• 1M: 4.98%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPMO

• 1D: -4.64%
• 1M: 9.61%
• YTD: 34.31%
• 6M: 31.95%
• 1Y: 47.93%
• 3Y*: 46.04%
• 5Y*: 26.39%
• 10Y*: 22.23%

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

CAEM.TO vs. SPMO - Yearly Performance Comparison

	2026 (YTD)
CAEM.TO Avantis CIBC Emerging Markets Equity ETF	19.32%
SPMO Invesco S&P 500 Momentum ETF	46.01%

Correlation

The correlation between CAEM.TO and SPMO is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 31, 2026	0.81

Return for Risk

CAEM.TO vs. SPMO — Risk / Return Rank

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

CAEM.TO

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

SPMO

SPMO Risk / Return Rank: 68
SPMO Sharpe Ratio Rank: 68
SPMO Sortino Ratio Rank: 62
SPMO Omega Ratio Rank: 69
SPMO Calmar Ratio Rank: 71
SPMO Martin Ratio Rank: 71

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.

CAEM.TO vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis CIBC Emerging Markets Equity ETF (CAEM.TO) 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.

	CAEM.TO	SPMO	Difference
Sharpe ratio: Return per unit of total volatility	—	2.32	—
Sortino ratio: Return per unit of downside risk	—	3.05	—
Omega ratio: Gain probability vs. loss probability	—	1.42	—
Calmar ratio: Return relative to maximum drawdown	—	3.72	—
Martin ratio: Return relative to average drawdown	—	12.39	—

Drawdowns

CAEM.TO vs. SPMO - Drawdown Comparison

The maximum CAEM.TO drawdown since its inception was -6.26%, smaller than the maximum SPMO drawdown of -26.80%. Use the drawdown chart below to compare losses from any high point for CAEM.TO and SPMO.

Drawdown Indicators

	CAEM.TO	SPMO	Difference
Max Drawdown Largest peak-to-trough decline	-6.26%	-26.80%	+20.54%
Max Drawdown (1Y) Largest decline over 1 year	—	-12.95%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-21.35%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.43%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-26.80%	—
Current Drawdown Current decline from peak	-4.49%	-4.64%	+0.15%
Average Drawdown Average peak-to-trough decline	-1.17%	-4.16%	+2.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.88%	—

Volatility

Volatility by Period

	CAEM.TO	SPMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	12.04%	—
Volatility (6M) Calculated over the trailing 6-month period	—	18.11%	—
Volatility (1Y) Calculated over the trailing 1-year period	25.43%	20.86%	+4.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.43%	20.77%	+4.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.43%	21.70%	+3.73%

Dividends

CAEM.TO vs. SPMO - Dividend Comparison

CAEM.TO 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
CAEM.TO Avantis CIBC Emerging Markets Equity ETF	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

Can I hold both CAEM.TO and SPMO in my portfolio?

CAEM.TO and SPMO have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between CAEM.TO and SPMO?

CAEM.TO is categorized as Emerging Markets Equities, while SPMO is Momentum. They also come from different issuers: CIBC and Invesco.