EEMO vs. SPVM

Last updated Jun 5, 2026

EEMO (Invesco S&P Emerging Markets Momentum ETF) and SPVM (Invesco S&P 500 Value with Momentum ETF) are both Momentum funds from Invesco - EEMO tracks the S&P Momentum Emerging Plus LargeMidCap Index while SPVM tracks the S&P 500 High Momentum Value Index. Both are passively managed. Over the past 10 years, EEMO returned 8.50%/yr vs 11.97%/yr for SPVM. At a 0.41 correlation, their price movements are largely independent. EEMO charges 0.31%/yr vs 0.39%/yr for SPVM.

Performance

EEMO vs. SPVM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P Emerging Markets Momentum ETF (EEMO) and Invesco S&P 500 Value with Momentum ETF (SPVM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EEMO achieves a 36.85% return, which is significantly higher than SPVM's 9.40% return. Over the past 10 years, EEMO has underperformed SPVM with an annualized return of 8.50%, while SPVM has yielded a comparatively higher 11.97% annualized return.

EEMO

• 1D: -2.42%
• 1M: 10.83%
• YTD: 36.85%
• 6M: 37.37%
• 1Y: 51.13%
• 3Y*: 24.00%
• 5Y*: 6.67%
• 10Y*: 8.50%

SPVM

• 1D: 1.03%
• 1M: 3.68%
• YTD: 9.40%
• 6M: 11.62%
• 1Y: 30.39%
• 3Y*: 19.68%
• 5Y*: 10.32%
• 10Y*: 11.97%

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

EEMO vs. SPVM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EEMO Invesco S&P Emerging Markets Momentum ETF	36.85%	10.99%	9.88%	13.90%	-18.73%	-5.57%	9.66%	21.17%	-17.24%	49.65%
SPVM Invesco S&P 500 Value with Momentum ETF	9.40%	20.47%	15.64%	5.53%	-2.10%	28.86%	-3.18%	29.33%	-9.17%	14.70%

Correlation

The correlation between EEMO and SPVM is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.48
Correlation (10Y) Calculated over the trailing 10-year period	0.46
Correlation (All Time) Calculated using the full available price history since Feb 27, 2012	0.41

The correlation between EEMO and SPVM shifts across timeframes, from 0.30 (1 year) to 0.48 (5 years), reflecting how their relationship changes across market environments.

EEMO vs. SPVM - Sectors Allocation Comparison

Sectors	EEMO	SPVM
Technology	43.8%	5.3%
Financial Services	18.0%	37.0%
Basic Materials	12.9%	1.8%
Industrials	11.5%	4.4%
Consumer Cyclical	3.2%	6.3%
Healthcare	3.0%	6.3%
Energy	2.5%	8.7%
Utilities	2.0%	14.2%
Communication Services	1.5%	6.6%
Consumer Defensive	1.2%	4.9%
Real Estate	0.5%	1.9%

Return for Risk

EEMO vs. SPVM — Risk / Return Rank

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

EEMO

EEMO Risk / Return Rank: 69
EEMO Sharpe Ratio Rank: 64
EEMO Sortino Ratio Rank: 65
EEMO Omega Ratio Rank: 71
EEMO Calmar Ratio Rank: 71
EEMO Martin Ratio Rank: 75

SPVM

SPVM Risk / Return Rank: 83
SPVM Sharpe Ratio Rank: 82
SPVM Sortino Ratio Rank: 84
SPVM Omega Ratio Rank: 78
SPVM Calmar Ratio Rank: 85
SPVM Martin Ratio Rank: 85

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.

EEMO vs. SPVM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P Emerging Markets Momentum ETF (EEMO) and Invesco S&P 500 Value with Momentum ETF (SPVM). 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.

	EEMO	SPVM	Difference
Sharpe ratio: Return per unit of total volatility	2.09	2.63	-0.53
Sortino ratio: Return per unit of downside risk	2.97	3.74	-0.77
Omega ratio: Gain probability vs. loss probability	1.42	1.46	-0.04
Calmar ratio: Return relative to maximum drawdown	3.48	4.65	-1.16
Martin ratio: Return relative to average drawdown	13.93	17.69	-3.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EEMO vs. SPVM - Sharpe Ratio Comparison

The current EEMO Sharpe Ratio is 2.09, which is comparable to the SPVM Sharpe Ratio of 2.63. The chart below compares the historical Sharpe Ratios of EEMO and SPVM, 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

	EEMO	SPVM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.09	2.63	-0.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	0.62	-0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.39	0.61	-0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	0.63	-0.50

Drawdowns

EEMO vs. SPVM - Drawdown Comparison

The maximum EEMO drawdown since its inception was -48.47%, which is greater than SPVM's maximum drawdown of -45.35%. Use the drawdown chart below to compare losses from any high point for EEMO and SPVM.

Drawdown Indicators

	EEMO	SPVM	Difference
Max Drawdown Largest peak-to-trough decline	-48.47%	-45.35%	-3.12%
Max Drawdown (1Y) Largest decline over 1 year	-14.75%	-6.57%	-8.18%
Max Drawdown (3Y) Largest decline over 3 years	-26.06%	-18.66%	-7.40%
Max Drawdown (5Y) Largest decline over 5 years	-34.03%	-19.48%	-14.55%
Max Drawdown (10Y) Largest decline over 10 years	-46.57%	-45.35%	-1.22%
Current Drawdown Current decline from peak	-3.71%	0.00%	-3.71%
Average Drawdown Average peak-to-trough decline	-20.17%	-4.99%	-15.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.68%	1.72%	+1.96%

Volatility

EEMO vs. SPVM - Volatility Comparison

Invesco S&P Emerging Markets Momentum ETF (EEMO) has a higher volatility of 14.18% compared to Invesco S&P 500 Value with Momentum ETF (SPVM) at 2.90%. This indicates that EEMO's price experiences larger fluctuations and is considered to be riskier than SPVM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EEMO	SPVM	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.18%	2.90%	+11.28%
Volatility (6M) Calculated over the trailing 6-month period	22.26%	7.53%	+14.73%
Volatility (1Y) Calculated over the trailing 1-year period	24.58%	11.66%	+12.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.36%	16.78%	+2.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.59%	19.57%	+2.02%

EEMO vs. SPVM - Expense Ratio Comparison

EEMO has a 0.31% expense ratio, which is lower than SPVM's 0.39% expense ratio.

Dividends

EEMO vs. SPVM - Dividend Comparison

EEMO's dividend yield for the trailing twelve months is around 1.68%, less than SPVM's 1.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EEMO Invesco S&P Emerging Markets Momentum ETF	1.68%	2.31%	2.57%	3.65%	3.82%	1.51%	1.53%	2.13%	13.10%	5.13%	1.55%	2.92%
SPVM Invesco S&P 500 Value with Momentum ETF	1.89%	2.02%	1.91%	2.45%	2.33%	1.41%	2.11%	2.40%	3.10%	1.68%	2.80%	2.67%

Frequently Asked Questions

Can I hold both EEMO and SPVM in my portfolio?

EEMO and SPVM have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EEMO or SPVM?

EEMO has higher volatility (14.18%) compared to SPVM (2.90%). In terms of maximum drawdown, EEMO dropped -48.47% vs SPVM's -45.35%.

Which ETF is better, EEMO or SPVM?

On 10-year performance, SPVM leads with 11.97% vs 8.50% for EEMO. On fees, EEMO is cheaper at 0.31% per year. On volatility, SPVM has been the lower-risk option at 2.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EEMO or SPVM?

Over the 10-year period, SPVM has performed better with a 11.97% return vs 8.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EEMO or SPVM?

EEMO is cheaper with a 0.31% expense ratio, compared with 0.39% for SPVM.

Which ETF pays a higher dividend yield, EEMO or SPVM?

SPVM has the higher dividend yield at 1.89%, compared with 1.68% for EEMO.

What is the main difference between EEMO and SPVM?

EEMO tracks S&P Momentum Emerging Plus LargeMidCap Index, while SPVM tracks S&P 500 High Momentum Value Index. Their fees differ too: 0.31% for EEMO and 0.39% for SPVM.

Which has better risk-adjusted returns?

SPVM currently has the higher Sharpe Ratio (2.63 vs 2.09), 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.