ENVA vs. SPMO

Last updated Jun 13, 2026

ENVA (Enova International, Inc.) 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, ENVA returned 38.77%/yr vs 20.86%/yr for SPMO. At a 0.34 correlation, their price movements are largely independent.

Performance

ENVA vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Enova International, Inc. (ENVA) 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, ENVA achieves a 20.44% return, which is significantly lower than SPMO's 28.15% return. Over the past 10 years, ENVA has outperformed SPMO with an annualized return of 38.77%, while SPMO has yielded a comparatively lower 20.86% annualized return.

ENVA

• 1D: -0.14%
• 1M: 13.51%
• YTD: 20.44%
• 6M: 16.35%
• 1Y: 102.88%
• 3Y*: 53.36%
• 5Y*: 39.68%
• 10Y*: 38.77%

SPMO

• 1D: 1.26%
• 1M: 3.36%
• YTD: 28.15%
• 6M: 28.70%
• 1Y: 44.90%
• 3Y*: 41.53%
• 5Y*: 23.50%
• 10Y*: 20.86%

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

ENVA vs. SPMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ENVA Enova International, Inc.	20.44%	63.95%	73.19%	44.28%	-6.32%	65.36%	2.95%	23.64%	28.03%	21.12%
SPMO Invesco S&P 500 Momentum ETF	28.15%	26.58%	45.82%	17.56%	-10.45%	22.64%	28.25%	25.93%	-0.92%	27.76%

Correlation

The correlation between ENVA and SPMO is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (10Y) Calculated over the trailing 10-year period	0.36
Correlation (All Time) Calculated using the full available price history since Oct 12, 2015	0.34

The correlation between ENVA and SPMO shifts across timeframes, from 0.34 (all time) to 0.46 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

ENVA vs. SPMO — Risk / Return Rank

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

ENVA

ENVA Risk / Return Rank: 91
ENVA Sharpe Ratio Rank: 94
ENVA Sortino Ratio Rank: 91
ENVA Omega Ratio Rank: 90
ENVA Calmar Ratio Rank: 89
ENVA Martin Ratio Rank: 89

SPMO

SPMO Risk / Return Rank: 79
SPMO Sharpe Ratio Rank: 81
SPMO Sortino Ratio Rank: 78
SPMO Omega Ratio Rank: 80
SPMO Calmar Ratio Rank: 77
SPMO Martin Ratio Rank: 78

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.

ENVA vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Enova International, Inc. (ENVA) 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.

	ENVA	SPMO	Difference
Sharpe ratio: Return per unit of total volatility	2.60	2.24	+0.36
Sortino ratio: Return per unit of downside risk	3.20	2.98	+0.21
Omega ratio: Gain probability vs. loss probability	1.40	1.41	-0.01
Calmar ratio: Return relative to maximum drawdown	4.04	3.44	+0.60
Martin ratio: Return relative to average drawdown	10.44	13.01	-2.57

ENVA vs. SPMO - Sharpe Ratio Comparison

The current ENVA Sharpe Ratio is 2.60, which is comparable to the SPMO Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of ENVA 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

ENVA vs. SPMO - Drawdown Comparison

The maximum ENVA drawdown since its inception was -84.26%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for ENVA and SPMO.

Drawdown Indicators

	ENVA	SPMO	Difference
Max Drawdown Largest peak-to-trough decline	-84.26%	-30.95%	-53.31%
Max Drawdown (1Y) Largest decline over 1 year	-24.75%	-12.70%	-12.05%
Max Drawdown (3Y) Largest decline over 3 years	-37.01%	-20.13%	-16.88%
Max Drawdown (5Y) Largest decline over 5 years	-42.84%	-22.74%	-20.10%
Max Drawdown (10Y) Largest decline over 10 years	-77.57%	-30.95%	-46.62%
Current Drawdown Current decline from peak	-0.14%	-1.68%	+1.54%
Average Drawdown Average peak-to-trough decline	-31.82%	-4.60%	-27.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.57%	3.35%	+6.22%

Volatility

ENVA vs. SPMO - Volatility Comparison

Enova International, Inc. (ENVA) has a higher volatility of 11.26% compared to Invesco S&P 500 Momentum ETF (SPMO) at 10.29%. This indicates that ENVA'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

	ENVA	SPMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.26%	10.29%	+0.97%
Volatility (6M) Calculated over the trailing 6-month period	28.77%	16.73%	+12.04%
Volatility (1Y) Calculated over the trailing 1-year period	38.58%	19.48%	+19.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.33%	19.65%	+20.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.25%	20.48%	+28.77%

Dividends

ENVA vs. SPMO - Dividend Comparison

ENVA has not paid dividends to shareholders, while SPMO's dividend yield for the trailing twelve months is around 0.67%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ENVA Enova International, Inc.	0.00%	0.00%	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	0.67%	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 ENVA and SPMO in my portfolio?

ENVA and SPMO have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ENVA or SPMO?

ENVA has higher volatility (11.26%) compared to SPMO (10.29%). In terms of maximum drawdown, ENVA dropped -84.26% vs SPMO's -30.95%.

Which has better risk-adjusted returns?

ENVA currently has the higher Sharpe Ratio (2.60 vs 2.24), 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.