CHA vs. SPMO

Last updated Jun 4, 2026

CHA (Chagee Holdings Ltd) is a stock, while SPMO (Invesco S&P 500 Momentum ETF) is Momentum fund tracking the S&P 500 Momentum Index. Over the past year, CHA returned -58.55% vs 46.00% for SPMO. At a 0.14 correlation, their price movements are largely independent.

Performance

CHA vs. SPMO - Performance Comparison

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

Returns By Period

In the year-to-date period, CHA achieves a 1.72% return, which is significantly lower than SPMO's 30.35% return.

CHA

• 1D: -7.22%
• 1M: 6.38%
• YTD: 1.72%
• 6M: -17.36%
• 1Y: -58.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPMO

• 1D: 0.50%
• 1M: 15.36%
• YTD: 30.35%
• 6M: 30.51%
• 1Y: 46.00%
• 3Y*: 43.04%
• 5Y*: 24.29%
• 10Y*: 20.95%

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

CHA vs. SPMO - Yearly Performance Comparison

	2026 (YTD)	2025
CHA Chagee Holdings Ltd	1.72%	-61.73%
SPMO Invesco S&P 500 Momentum ETF	30.35%	36.00%

Correlation

The correlation between CHA and SPMO is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (All Time) Calculated using the full available price history since Apr 21, 2025	0.14

Return for Risk

CHA vs. SPMO — Risk / Return Rank

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

CHA

CHA Risk / Return Rank: 8
CHA Sharpe Ratio Rank: 4
CHA Sortino Ratio Rank: 3
CHA Omega Ratio Rank: 5
CHA Calmar Ratio Rank: 10
CHA Martin Ratio Rank: 20

SPMO

SPMO Risk / Return Rank: 75
SPMO Sharpe Ratio Rank: 79
SPMO Sortino Ratio Rank: 77
SPMO Omega Ratio Rank: 77
SPMO Calmar Ratio Rank: 71
SPMO Martin Ratio Rank: 73

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.

CHA vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Chagee Holdings Ltd (CHA) 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.

	CHA	SPMO	Difference
Sharpe ratio: Return per unit of total volatility	-1.04	2.62	-3.66
Sortino ratio: Return per unit of downside risk	-1.91	3.54	-5.45
Omega ratio: Gain probability vs. loss probability	0.79	1.47	-0.68
Calmar ratio: Return relative to maximum drawdown	-0.81	3.64	-4.45
Martin ratio: Return relative to average drawdown	-1.05	14.17	-15.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CHA vs. SPMO - Sharpe Ratio Comparison

The current CHA Sharpe Ratio is -1.04, which is lower than the SPMO Sharpe Ratio of 2.62. The chart below compares the historical Sharpe Ratios of CHA and SPMO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CHA	SPMO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.04	2.62	-3.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.27	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.03	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.97	1.01	-1.98

Drawdowns

CHA vs. SPMO - Drawdown Comparison

The maximum CHA drawdown since its inception was -72.61%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for CHA and SPMO.

Drawdown Indicators

	CHA	SPMO	Difference
Max Drawdown Largest peak-to-trough decline	-72.61%	-30.95%	-41.66%
Max Drawdown (1Y) Largest decline over 1 year	-72.13%	-12.70%	-59.43%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.13%	—
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	-64.62%	0.00%	-64.62%
Average Drawdown Average peak-to-trough decline	-49.36%	-4.60%	-44.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	55.76%	3.26%	+52.50%

Volatility

CHA vs. SPMO - Volatility Comparison

Chagee Holdings Ltd (CHA) has a higher volatility of 27.22% compared to Invesco S&P 500 Momentum ETF (SPMO) at 7.35%. This indicates that CHA'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.

Volatility by Period

	CHA	SPMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	27.22%	7.35%	+19.87%
Volatility (6M) Calculated over the trailing 6-month period	39.13%	14.39%	+24.74%
Volatility (1Y) Calculated over the trailing 1-year period	56.42%	17.64%	+38.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.13%	19.30%	+39.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	59.13%	20.31%	+38.82%

Dividends

CHA vs. SPMO - Dividend Comparison

CHA's dividend yield for the trailing twelve months is around 7.78%, more than SPMO's 0.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CHA Chagee Holdings Ltd	7.78%	7.91%	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	0.65%	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 CHA and SPMO in my portfolio?

CHA and SPMO have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CHA or SPMO?

CHA has higher volatility (27.22%) compared to SPMO (7.35%). In terms of maximum drawdown, CHA dropped -72.61% vs SPMO's -30.95%.

Which has better risk-adjusted returns?

SPMO currently has the higher Sharpe Ratio (2.62 vs -1.04), 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.