ERAS vs. SPMO

Last updated Jun 4, 2026

ERAS (Erasca, 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 3 years, ERAS returned 65.83%/yr vs 43.04%/yr for SPMO. At a 0.24 correlation, their price movements are largely independent.

Performance

ERAS vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Erasca, Inc. (ERAS) 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, ERAS achieves a 254.30% return, which is significantly higher than SPMO's 30.35% return.

ERAS

• 1D: -2.23%
• 1M: 29.98%
• YTD: 254.30%
• 6M: 300.61%
• 1Y: 812.11%
• 3Y*: 65.83%
• 5Y*: —
• 10Y*: —

SPMO

• 1D: 0.50%
• 1M: 15.36%
• YTD: 30.35%
• 6M: 30.51%
• 1Y: 46.00%
• 3Y*: 43.04%
• 5Y*: 24.29%
• 10Y*: 20.95%

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

ERAS vs. SPMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ERAS Erasca, Inc.	254.30%	48.21%	17.84%	-50.58%	-72.34%	-10.61%
SPMO Invesco S&P 500 Momentum ETF	30.35%	26.58%	45.82%	17.56%	-10.45%	9.09%

Correlation

The correlation between ERAS and SPMO is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.03
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (All Time) Calculated using the full available price history since Jul 19, 2021	0.24

Over the past year, the correlation between ERAS and SPMO has dropped to 0.03 - well below their long-term average of 0.24, suggesting their price drivers have been diverging.

Return for Risk

ERAS vs. SPMO — Risk / Return Rank

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

ERAS

ERAS Risk / Return Rank: 98
ERAS Sharpe Ratio Rank: 100
ERAS Sortino Ratio Rank: 96
ERAS Omega Ratio Rank: 97
ERAS Calmar Ratio Rank: 98
ERAS Martin Ratio Rank: 99

SPMO

SPMO Risk / Return Rank: 75
SPMO Sharpe Ratio Rank: 79
SPMO Sortino Ratio Rank: 77
SPMO Omega Ratio Rank: 77
SPMO Calmar Ratio Rank: 71
SPMO Martin Ratio Rank: 73

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.

ERAS vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Erasca, Inc. (ERAS) 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.

	ERAS	SPMO	Difference
Sharpe ratio: Return per unit of total volatility	7.93	2.62	+5.31
Sortino ratio: Return per unit of downside risk	4.43	3.54	+0.89
Omega ratio: Gain probability vs. loss probability	1.71	1.47	+0.24
Calmar ratio: Return relative to maximum drawdown	13.79	3.64	+10.16
Martin ratio: Return relative to average drawdown	45.49	14.17	+31.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ERAS vs. SPMO - Sharpe Ratio Comparison

The current ERAS Sharpe Ratio is 7.93, which is higher than the SPMO Sharpe Ratio of 2.62. The chart below compares the historical Sharpe Ratios of ERAS 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

	ERAS	SPMO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	7.93	2.62	+5.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.27	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.03	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.07	1.01	-1.08

Drawdowns

ERAS vs. SPMO - Drawdown Comparison

The maximum ERAS drawdown since its inception was -95.65%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for ERAS and SPMO.

Drawdown Indicators

	ERAS	SPMO	Difference
Max Drawdown Largest peak-to-trough decline	-95.65%	-30.95%	-64.70%
Max Drawdown (1Y) Largest decline over 1 year	-59.46%	-12.70%	-46.76%
Max Drawdown (3Y) Largest decline over 3 years	-67.88%	-20.13%	-47.75%
Max Drawdown (5Y) Largest decline over 5 years	—	-22.74%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-30.95%	—
Current Drawdown Current decline from peak	-45.85%	0.00%	-45.85%
Average Drawdown Average peak-to-trough decline	-74.89%	-4.60%	-70.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.00%	3.26%	+14.74%

Volatility

ERAS vs. SPMO - Volatility Comparison

Erasca, Inc. (ERAS) has a higher volatility of 18.89% compared to Invesco S&P 500 Momentum ETF (SPMO) at 7.35%. This indicates that ERAS'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

	ERAS	SPMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.89%	7.35%	+11.54%
Volatility (6M) Calculated over the trailing 6-month period	96.07%	14.39%	+81.68%
Volatility (1Y) Calculated over the trailing 1-year period	103.47%	17.64%	+85.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	83.33%	19.30%	+64.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	83.33%	20.31%	+63.02%

Dividends

ERAS vs. SPMO - Dividend Comparison

ERAS has not paid dividends to shareholders, while SPMO's dividend yield for the trailing twelve months is around 0.65%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ERAS Erasca, 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	0.65%	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 ERAS and SPMO in my portfolio?

ERAS and SPMO have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ERAS or SPMO?

ERAS has higher volatility (18.89%) compared to SPMO (7.35%). In terms of maximum drawdown, ERAS dropped -95.65% vs SPMO's -30.95%.

Which has better risk-adjusted returns?

ERAS currently has the higher Sharpe Ratio (7.93 vs 2.62), 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.