CYD vs. SPMO

Last updated Jun 3, 2026

CYD (China Yuchai International Limited) is a stock, while SPMO (Invesco S&P 500 Momentum ETF) is Momentum fund tracking the S&P 500 Momentum Index. Over the past 10 years, CYD returned 23.07%/yr vs 20.89%/yr for SPMO. At a 0.22 correlation, their price movements are largely independent.

Performance

CYD vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in China Yuchai International Limited (CYD) 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, CYD achieves a 65.92% return, which is significantly higher than SPMO's 29.70% return. Over the past 10 years, CYD has outperformed SPMO with an annualized return of 23.07%, while SPMO has yielded a comparatively lower 20.89% annualized return.

CYD

• 1D: 1.92%
• 1M: 47.25%
• YTD: 65.92%
• 6M: 67.81%
• 1Y: 251.64%
• 3Y*: 91.75%
• 5Y*: 36.29%
• 10Y*: 23.07%

SPMO

• 1D: 1.31%
• 1M: 14.80%
• YTD: 29.70%
• 6M: 30.19%
• 1Y: 46.28%
• 3Y*: 42.80%
• 5Y*: 24.51%
• 10Y*: 20.89%

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

CYD vs. SPMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CYD China Yuchai International Limited	65.92%	281.18%	17.72%	21.67%	-50.38%	0.21%	29.89%	13.35%	-46.44%	82.82%
SPMO Invesco S&P 500 Momentum ETF	29.70%	26.58%	45.82%	17.56%	-10.45%	22.64%	28.25%	25.93%	-0.92%	27.76%

Correlation

The correlation between CYD 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	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (10Y) Calculated over the trailing 10-year period	0.23
Correlation (All Time) Calculated using the full available price history since Oct 13, 2015	0.22

The correlation between CYD and SPMO shifts across timeframes, from 0.18 (3 years) to 0.32 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

CYD vs. SPMO — Risk / Return Rank

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

CYD

CYD Risk / Return Rank: 95
CYD Sharpe Ratio Rank: 98
CYD Sortino Ratio Rank: 95
CYD Omega Ratio Rank: 94
CYD Calmar Ratio Rank: 95
CYD Martin Ratio Rank: 94

SPMO

SPMO Risk / Return Rank: 77
SPMO Sharpe Ratio Rank: 80
SPMO Sortino Ratio Rank: 78
SPMO Omega Ratio Rank: 78
SPMO Calmar Ratio Rank: 74
SPMO Martin Ratio Rank: 76

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.

CYD vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for China Yuchai International Limited (CYD) 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.

	CYD	SPMO	Difference
Sharpe ratio Return per unit of total volatility	4.59	2.64	+1.95
Sortino ratio Return per unit of downside risk	4.19	3.55	+0.64
Omega ratio Gain probability vs. loss probability	1.54	1.47	+0.07
Calmar ratio Return relative to maximum drawdown	7.36	3.76	+3.60
Martin ratio Return relative to average drawdown	18.31	14.67	+3.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CYD vs. SPMO - Sharpe Ratio Comparison

The current CYD Sharpe Ratio is 4.59, which is higher than the SPMO Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of CYD 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

	CYD	SPMO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.59	2.64	+1.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	1.28	-0.54
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	1.03	-0.51
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	1.01	-0.86

Drawdowns

CYD vs. SPMO - Drawdown Comparison

The maximum CYD drawdown since its inception was -97.74%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for CYD and SPMO.

Drawdown Indicators

	CYD	SPMO	Difference
Max Drawdown Largest peak-to-trough decline	-97.74%	-30.95%	-66.79%
Max Drawdown (1Y) Largest decline over 1 year	-34.21%	-12.70%	-21.51%
Max Drawdown (3Y) Largest decline over 3 years	-44.46%	-20.13%	-24.33%
Max Drawdown (5Y) Largest decline over 5 years	-58.56%	-22.74%	-35.82%
Max Drawdown (10Y) Largest decline over 10 years	-68.53%	-30.95%	-37.58%
Current Drawdown Current decline from peak	-1.36%	0.00%	-1.36%
Average Drawdown Average peak-to-trough decline	-53.05%	-4.60%	-48.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.76%	3.26%	+10.50%

Volatility

CYD vs. SPMO - Volatility Comparison

China Yuchai International Limited (CYD) has a higher volatility of 13.78% compared to Invesco S&P 500 Momentum ETF (SPMO) at 7.38%. This indicates that CYD'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

	CYD	SPMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.78%	7.38%	+6.40%
Volatility (6M) Calculated over the trailing 6-month period	37.89%	14.44%	+23.45%
Volatility (1Y) Calculated over the trailing 1-year period	55.22%	17.65%	+37.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.81%	19.31%	+30.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.51%	20.31%	+24.20%

Dividends

CYD vs. SPMO - Dividend Comparison

CYD's dividend yield for the trailing twelve months is around 0.90%, more than SPMO's 0.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CYD China Yuchai International Limited	0.90%	1.49%	3.99%	3.34%	5.65%	11.39%	5.20%	6.38%	5.87%	3.75%	6.15%	10.22%
SPMO Invesco S&P 500 Momentum ETF	0.66%	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 CYD and SPMO in my portfolio?

CYD 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.

Which is riskier, CYD or SPMO?

CYD has higher volatility (13.78%) compared to SPMO (7.38%). In terms of maximum drawdown, CYD dropped -97.74% vs SPMO's -30.95%.

Which has better risk-adjusted returns?

CYD currently has the higher Sharpe Ratio (4.59 vs 2.64), 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.