DDIV vs. SPMO

Last updated Jun 24, 2026

DDIV (First Trust Dorsey Wright Momentum & Dividend ETF) and SPMO (Invesco S&P 500 Momentum ETF) are both Momentum funds - DDIV tracks the Dorsey Wright Momentum Plus Dividend Yield Index while SPMO tracks the S&P 500 Momentum Index. Both are passively managed. Over the past 10 years, DDIV returned 10.13%/yr vs 21.03%/yr for SPMO. A 0.58 correlation means they provide meaningful diversification when combined. DDIV charges 0.60%/yr vs 0.13%/yr for SPMO.

Performance

DDIV vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Dorsey Wright Momentum & Dividend ETF (DDIV) 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, DDIV achieves a 9.05% return, which is significantly lower than SPMO's 29.91% return. Over the past 10 years, DDIV has underperformed SPMO with an annualized return of 10.13%, while SPMO has yielded a comparatively higher 21.03% annualized return.

DDIV

• 1D: 0.56%
• 1M: 0.15%
• YTD: 9.05%
• 6M: 7.35%
• 1Y: 21.91%
• 3Y*: 21.11%
• 5Y*: 10.48%
• 10Y*: 10.13%

SPMO

• 1D: -4.53%
• 1M: 6.65%
• YTD: 29.91%
• 6M: 28.13%
• 1Y: 43.55%
• 3Y*: 42.47%
• 5Y*: 22.89%
• 10Y*: 21.03%

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

DDIV vs. SPMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DDIV First Trust Dorsey Wright Momentum & Dividend ETF	9.05%	12.23%	27.18%	9.95%	-12.44%	39.96%	-3.59%	32.40%	-16.50%	11.31%
SPMO Invesco S&P 500 Momentum ETF	29.91%	26.58%	45.82%	17.56%	-10.45%	22.64%	28.25%	25.93%	-0.92%	27.76%

Correlation

The correlation between DDIV and SPMO is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (10Y) Calculated over the trailing 10-year period	0.60
Correlation (All Time) Calculated using the full available price history since Oct 12, 2015	0.58

The correlation between DDIV and SPMO shifts across timeframes, from 0.48 (1 year) to 0.68 (5 years), reflecting how their relationship changes across market environments.

DDIV vs. SPMO - Sectors Allocation Comparison

Sectors	DDIV	SPMO
Energy	27.0%	2.8%
Financial Services	22.2%	5.8%
Real Estate	15.4%	0.9%
Consumer Defensive	7.6%	3.8%
Industrials	6.4%	10.9%
Consumer Cyclical	5.4%	1.1%
Utilities	5.2%	2.6%
Healthcare	4.0%	5.9%
Basic Materials	3.0%	1.5%
Communication Services	2.8%	8.0%
Technology	1.0%	56.8%

Return for Risk

DDIV vs. SPMO — Risk / Return Rank

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

DDIV

DDIV Risk / Return Rank: 45
DDIV Sharpe Ratio Rank: 47
DDIV Sortino Ratio Rank: 46
DDIV Omega Ratio Rank: 46
DDIV Calmar Ratio Rank: 41
DDIV Martin Ratio Rank: 45

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.

DDIV vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Dorsey Wright Momentum & Dividend ETF (DDIV) 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.

	DDIV	SPMO	Difference
Sharpe ratio: Return per unit of total volatility	1.54	2.13	-0.60
Sortino ratio: Return per unit of downside risk	2.18	2.81	-0.63
Omega ratio: Gain probability vs. loss probability	1.28	1.39	-0.12
Calmar ratio: Return relative to maximum drawdown	1.95	3.45	-1.50
Martin ratio: Return relative to average drawdown	7.14	12.97	-5.83

DDIV vs. SPMO - Sharpe Ratio Comparison

The current DDIV Sharpe Ratio is 1.54, which is comparable to the SPMO Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of DDIV 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.

Drawdowns

DDIV vs. SPMO - Drawdown Comparison

The maximum DDIV drawdown since its inception was -47.56%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for DDIV and SPMO.

Drawdown Indicators

	DDIV	SPMO	Difference
Max Drawdown Largest peak-to-trough decline	-47.56%	-30.95%	-16.61%
Max Drawdown (1Y) Largest decline over 1 year	-11.31%	-12.70%	+1.39%
Max Drawdown (3Y) Largest decline over 3 years	-18.97%	-20.13%	+1.16%
Max Drawdown (5Y) Largest decline over 5 years	-21.10%	-22.74%	+1.64%
Max Drawdown (10Y) Largest decline over 10 years	-47.56%	-30.95%	-16.61%
Current Drawdown Current decline from peak	-0.51%	-4.53%	+4.02%
Average Drawdown Average peak-to-trough decline	-6.00%	-4.59%	-1.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.07%	3.37%	-0.30%

Volatility

DDIV vs. SPMO - Volatility Comparison

The current volatility for First Trust Dorsey Wright Momentum & Dividend ETF (DDIV) is 3.14%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 11.75%. This indicates that DDIV experiences smaller price fluctuations and is considered to be less risky than SPMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DDIV	SPMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.14%	11.75%	-8.61%
Volatility (6M) Calculated over the trailing 6-month period	11.64%	17.78%	-6.14%
Volatility (1Y) Calculated over the trailing 1-year period	14.36%	20.55%	-6.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.54%	19.88%	-1.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.90%	20.60%	-0.70%

DDIV vs. SPMO - Expense Ratio Comparison

DDIV has a 0.60% expense ratio, which is higher than SPMO's 0.13% expense ratio.

Dividends

DDIV vs. SPMO - Dividend Comparison

DDIV's dividend yield for the trailing twelve months is around 1.59%, more than SPMO's 0.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DDIV First Trust Dorsey Wright Momentum & Dividend ETF	1.59%	1.94%	2.22%	3.18%	3.60%	2.43%	2.63%	2.93%	3.27%	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 DDIV and SPMO in my portfolio?

DDIV and SPMO have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DDIV or SPMO?

SPMO has higher volatility (11.75%) compared to DDIV (3.14%). In terms of maximum drawdown, DDIV dropped -47.56% vs SPMO's -30.95%.

Which ETF is better, DDIV or SPMO?

On 10-year performance, SPMO leads with 21.03% vs 10.13% for DDIV. On fees, SPMO is cheaper at 0.13% per year. On volatility, DDIV has been the lower-risk option at 3.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DDIV or SPMO?

Over the 10-year period, SPMO has performed better with a 21.03% return vs 10.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DDIV or SPMO?

SPMO is cheaper with a 0.13% expense ratio, compared with 0.60% for DDIV.

Which ETF pays a higher dividend yield, DDIV or SPMO?

DDIV has the higher dividend yield at 1.59%, compared with 0.68% for SPMO.

What is the main difference between DDIV and SPMO?

DDIV tracks Dorsey Wright Momentum Plus Dividend Yield Index, while SPMO tracks S&P 500 Momentum Index. They also come from different issuers: First Trust and Invesco. Their fees differ too: 0.60% for DDIV and 0.13% for SPMO.

Which has better risk-adjusted returns?

SPMO currently has the higher Sharpe Ratio (2.13 vs 1.54), 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.