EMPB vs. SPGP

Last updated Jun 4, 2026

EMPB (Efficient Market Portfolio Plus ETF) and SPGP (Invesco S&P 500 GARP ETF) are both exchange-traded funds - EMPB is a Long-Short fund actively managed by Empowered Funds, while SPGP is a S&P 500 fund tracking the S&P 500 GARP Index. EMPB is actively managed, while SPGP is passively managed. Over the past year, EMPB returned 21.16% vs 17.19% for SPGP. A 0.58 correlation means they provide meaningful diversification when combined. EMPB charges 1.82%/yr vs 0.36%/yr for SPGP.

Performance

EMPB vs. SPGP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Efficient Market Portfolio Plus ETF (EMPB) and Invesco S&P 500 GARP ETF (SPGP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMPB achieves a 13.46% return, which is significantly higher than SPGP's 6.12% return.

EMPB

• 1D: 0.34%
• 1M: 5.35%
• YTD: 13.46%
• 6M: 12.10%
• 1Y: 21.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPGP

• 1D: -0.56%
• 1M: 3.93%
• YTD: 6.12%
• 6M: 6.65%
• 1Y: 17.19%
• 3Y*: 12.90%
• 5Y*: 7.90%
• 10Y*: 14.80%

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

EMPB vs. SPGP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EMPB Efficient Market Portfolio Plus ETF	13.46%	14.84%	0.89%
SPGP Invesco S&P 500 GARP ETF	6.12%	9.80%	-3.73%

Correlation

The correlation between EMPB and SPGP is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (All Time) Calculated using the full available price history since Dec 13, 2024	0.58

The correlation between EMPB and SPGP has been stable across timeframes, ranging from 0.53 to 0.58 - a consistent structural relationship.

Return for Risk

EMPB vs. SPGP — Risk / Return Rank

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

EMPB

EMPB Risk / Return Rank: 59
EMPB Sharpe Ratio Rank: 55
EMPB Sortino Ratio Rank: 55
EMPB Omega Ratio Rank: 56
EMPB Calmar Ratio Rank: 71
EMPB Martin Ratio Rank: 59

SPGP

SPGP Risk / Return Rank: 32
SPGP Sharpe Ratio Rank: 31
SPGP Sortino Ratio Rank: 32
SPGP Omega Ratio Rank: 30
SPGP Calmar Ratio Rank: 31
SPGP Martin Ratio Rank: 37

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.

EMPB vs. SPGP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Efficient Market Portfolio Plus ETF (EMPB) and Invesco S&P 500 GARP ETF (SPGP). 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.

	EMPB	SPGP	Difference
Sharpe ratio Return per unit of total volatility	1.87	1.14	+0.72
Sortino ratio Return per unit of downside risk	2.63	1.73	+0.89
Omega ratio Gain probability vs. loss probability	1.35	1.20	+0.14
Calmar ratio Return relative to maximum drawdown	3.55	1.55	+2.00
Martin ratio Return relative to average drawdown	10.44	5.94	+4.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMPB vs. SPGP - Sharpe Ratio Comparison

The current EMPB Sharpe Ratio is 1.87, which is higher than the SPGP Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of EMPB and SPGP, 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

	EMPB	SPGP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.87	1.14	+0.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.43	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.70	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.75	0.74	+1.02

Drawdowns

EMPB vs. SPGP - Drawdown Comparison

The maximum EMPB drawdown since its inception was -7.55%, smaller than the maximum SPGP drawdown of -42.08%. Use the drawdown chart below to compare losses from any high point for EMPB and SPGP.

Drawdown Indicators

	EMPB	SPGP	Difference
Max Drawdown Largest peak-to-trough decline	-7.55%	-42.08%	+34.53%
Max Drawdown (1Y) Largest decline over 1 year	-5.98%	-11.15%	+5.17%
Max Drawdown (3Y) Largest decline over 3 years	—	-22.87%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-22.87%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-42.08%	—
Current Drawdown Current decline from peak	-0.16%	-0.56%	+0.40%
Average Drawdown Average peak-to-trough decline	-1.50%	-4.36%	+2.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.03%	2.90%	-0.87%

Volatility

EMPB vs. SPGP - Volatility Comparison

The current volatility for Efficient Market Portfolio Plus ETF (EMPB) is 2.57%, while Invesco S&P 500 GARP ETF (SPGP) has a volatility of 3.74%. This indicates that EMPB experiences smaller price fluctuations and is considered to be less risky than SPGP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMPB	SPGP	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.57%	3.74%	-1.17%
Volatility (6M) Calculated over the trailing 6-month period	8.47%	11.57%	-3.10%
Volatility (1Y) Calculated over the trailing 1-year period	11.39%	15.13%	-3.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.81%	18.51%	-6.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.81%	21.20%	-9.39%

EMPB vs. SPGP - Expense Ratio Comparison

EMPB has a 1.82% expense ratio, which is higher than SPGP's 0.36% expense ratio.

Dividends

EMPB vs. SPGP - Dividend Comparison

EMPB's dividend yield for the trailing twelve months is around 0.77%, less than SPGP's 0.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMPB Efficient Market Portfolio Plus ETF	0.77%	0.88%	0.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPGP Invesco S&P 500 GARP ETF	0.88%	1.04%	1.38%	1.24%	1.22%	0.69%	1.10%	0.86%	0.95%	0.68%	0.89%	1.12%

Frequently Asked Questions

Can I hold both EMPB and SPGP in my portfolio?

EMPB and SPGP have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMPB or SPGP?

SPGP has higher volatility (3.74%) compared to EMPB (2.57%). In terms of maximum drawdown, EMPB dropped -7.55% vs SPGP's -42.08%.

Which ETF is better, EMPB or SPGP?

On 1-year performance, EMPB leads with 21.16% vs 17.19% for SPGP. On fees, SPGP is cheaper at 0.36% per year. On volatility, EMPB has been the lower-risk option at 2.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMPB or SPGP?

Over the 1-year period, EMPB has performed better with a 21.16% return vs 17.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMPB or SPGP?

SPGP is cheaper with a 0.36% expense ratio, compared with 1.82% for EMPB.

Which ETF pays a higher dividend yield, EMPB or SPGP?

SPGP has the higher dividend yield at 0.88%, compared with 0.77% for EMPB.

What is the main difference between EMPB and SPGP?

EMPB is categorized as Long-Short, while SPGP is S&P 500. They also come from different issuers: Empowered Funds and Invesco. Their fees differ too: 1.82% for EMPB and 0.36% for SPGP.

Which has better risk-adjusted returns?

EMPB currently has the higher Sharpe Ratio (1.87 vs 1.14), 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.