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ESPO vs. SPMO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ESPO vs. SPMO

Last updated Aug 1, 2026
Documentation

ESPO (VanEck Video Gaming and eSports ETF) and SPMO (Invesco S&P 500 Momentum ETF) are both exchange-traded funds - ESPO is a Gaming fund tracking the MVIS Global Video Gaming and eSports Index, while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. Both are passively managed. Over the past 5 years, ESPO returned 8.32%/yr vs 20.21%/yr for SPMO. Their 0.61 correlation means they have sometimes moved together and sometimes differently. ESPO charges 0.55%/yr vs 0.13%/yr for SPMO.

Performance

ESPO vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Video Gaming and eSports ETF (ESPO) and Invesco S&P 500 Momentum ETF (SPMO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ESPO achieves a -9.09% return, which is significantly lower than SPMO's 21.07% return.

ESPO

1D
-3.16%
1M
3.18%
6M
-5.98%
YTD
-9.09%
1Y
-11.33%
3Y*
18.46%
5Y*
8.32%
10Y*
—
ALL TIME*
16.59%

SPMO

1D
0.29%
1M
-7.40%
6M
20.51%
YTD
21.07%
1Y
25.37%
3Y*
37.36%
5Y*
20.21%
10Y*
19.57%
ALL TIME*
18.93%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

ESPO

VanEck Video Gaming and eSports ETF
$1.98M$1.50M$1.55M

SPMO

Invesco S&P 500 Momentum ETF
$331.54M$346.70M$350.59M

ESPO vs. SPMO - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
ESPO
VanEck Video Gaming and eSports ETF		-9.09%25.79%47.61%33.64%-34.71%-2.13%83.93%42.36%-12.49%
SPMO
Invesco S&P 500 Momentum ETF		21.07%26.58%45.82%17.56%-10.45%22.64%28.25%25.93%-12.05%

Correlation

The correlation between ESPO and SPMO is 0.41, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.41

Correlation (3Y)
Balances recent behavior with more history.

0.55

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.55

Correlation (All Time)
Calculated using the full available price history since Oct 17, 2018

0.61

Over the past year, the correlation between ESPO and SPMO has dropped to 0.41 - well below their long-term average of 0.61, suggesting their price drivers have been diverging.

ESPO vs. SPMO - Sectors Allocation Comparison

Sectors
ESPO
SPMO

Communication Services

77.7%
8.5%

Consumer Cyclical

14.2%
1.2%

Technology

8.1%
52.1%

Basic Materials

-

1.4%

Consumer Defensive

-

4.4%

Energy

-

3.3%

Financial Services

-

6.2%

Healthcare

-

7.0%

Industrials

-

13.1%

Real Estate

-

1.2%

Utilities

-

1.3%

Communication Services

ESPO
77.7%
SPMO
8.5%

Consumer Cyclical

ESPO
14.2%
SPMO
1.2%

Technology

ESPO
8.1%
SPMO
52.1%

Basic Materials

ESPO

-

SPMO
1.4%

Consumer Defensive

ESPO

-

SPMO
4.4%

Energy

ESPO

-

SPMO
3.3%

Financial Services

ESPO

-

SPMO
6.2%

Healthcare

ESPO

-

SPMO
7.0%

Industrials

ESPO

-

SPMO
13.1%

Real Estate

ESPO

-

SPMO
1.2%

Utilities

ESPO

-

SPMO
1.3%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

VanEck Video Gaming and eSports ETF

Invesco S&P 500 Momentum ETF

Often compared with ESPO:
ESPO vs. HEROESPO vs. ESGB.LESPO vs. GAMRESPO vs. NERDESPO vs. VGTESPO vs. MDLZESPO vs. SNSR
Often compared with SPMO:
SPMO vs. VOOSPMO vs. QQQSPMO vs. SCHGSPMO vs. MTUMSPMO vs. VUGSPMO vs. VFMOSPMO vs. XMMO

Return for Risk

ESPO vs. SPMO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
ESPO
ESPO Risk / Return Rank: 55
Overall Rank
ESPO Sharpe Ratio Rank: 44
Sharpe Ratio Rank
ESPO Sortino Ratio Rank: 44
Sortino Ratio Rank
ESPO Omega Ratio Rank: 44
Omega Ratio Rank
ESPO Calmar Ratio Rank: 66
Calmar Ratio Rank
ESPO Martin Ratio Rank: 77
Martin Ratio Rank
SPMO
SPMO Risk / Return Rank: 4646
Overall Rank
SPMO Sharpe Ratio Rank: 4343
Sharpe Ratio Rank
SPMO Sortino Ratio Rank: 4343
Sortino Ratio Rank
SPMO Omega Ratio Rank: 4545
Omega Ratio Rank
SPMO Calmar Ratio Rank: 4646
Calmar Ratio Rank
SPMO Martin Ratio Rank: 5151
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ESPO vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Video Gaming and eSports ETF (ESPO) 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.

ESPOSPMODifference
Sharpe ratioReturn per unit of total volatility
-0.58
1.07

-1.65

Sortino ratioReturn per unit of downside risk
-0.70
1.56

-2.26

Omega ratioGain probability vs. loss probability

0.92

1.21

-0.29

Calmar ratioReturn relative to maximum drawdown

-0.39

1.63

-2.02

Martin ratioReturn relative to average drawdown

-0.62

5.93

-6.55

ESPO vs. SPMO - Sharpe Ratio Comparison

The current ESPO Sharpe Ratio is -0.58, which is lower than the SPMO Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of ESPO 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.

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Drawdowns

ESPO vs. SPMO - Drawdown Comparison

The maximum ESPO drawdown since its inception was -50.99%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for ESPO and SPMO.

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Drawdown Indicators

ESPOSPMODifference

Max Drawdown

Largest peak-to-trough decline

-50.99%

-30.95%

-20.04%

Max Drawdown (1Y)

Largest decline over 1 year

-29.43%

-15.64%

-13.79%

Max Drawdown (3Y)

Largest decline over 3 years

-29.43%

-20.13%

-9.30%

Max Drawdown (5Y)

Largest decline over 5 years

-48.33%

-22.74%

-25.59%

Max Drawdown (10Y)

Largest decline over 10 years

—

-30.95%

—

Current Drawdown

Current decline from peak

-22.03%

-11.03%

-11.00%

Average Drawdown

Average peak-to-trough decline

-15.23%

-4.62%

-10.61%

Ulcer Index

Depth and duration of drawdowns from previous peaks

18.32%

4.29%

+14.03%

Volatility

ESPO vs. SPMO - Volatility Comparison

The current volatility for VanEck Video Gaming and eSports ETF (ESPO) is 6.66%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 10.53%. This indicates that ESPO 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.

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Volatility by Period

ESPOSPMODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.66%

10.53%

-3.87%

Volatility (6M)

Calculated over the trailing 6-month period

16.07%

21.52%

-5.45%

Volatility (1Y)

Calculated over the trailing 1-year period

19.65%

23.90%

-4.25%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

25.12%

20.60%

+4.52%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

25.65%

20.92%

+4.73%

ESPO vs. SPMO - Expense Ratio Comparison

ESPO has a 0.55% expense ratio, which is higher than SPMO's 0.13% expense ratio.

Dividends

ESPO vs. SPMO - Dividend Comparison

ESPO's dividend yield for the trailing twelve months is around 1.37%, more than SPMO's 0.73% yield.

PositionTTM20252024202320222021202020192018201720162015
ESPO
VanEck Video Gaming and eSports ETF		1.37%1.24%0.44%0.96%0.91%3.36%0.12%0.22%0.04%0.00%0.00%0.00%
SPMO
Invesco S&P 500 Momentum ETF		0.73%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

ESPO and SPMO have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SPMO has higher volatility (10.53%) compared to ESPO (6.66%). In terms of maximum drawdown, ESPO dropped -50.99% vs SPMO's -30.95%.

On 5-year performance, SPMO leads with 20.21% vs 8.32% for ESPO. On fees, SPMO is cheaper at 0.13% per year. On volatility, ESPO has been the lower-risk option at 6.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, SPMO has performed better with a 20.21% return vs 8.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SPMO is cheaper with a 0.13% expense ratio, compared with 0.55% for ESPO.

ESPO has the higher dividend yield at 1.37%, compared with 0.73% for SPMO.

ESPO is categorized as Gaming, while SPMO is Momentum. ESPO tracks MVIS Global Video Gaming and eSports Index, while SPMO tracks S&P 500 Momentum Index. They also come from different issuers: VanEck and Invesco. Their fees differ too: 0.55% for ESPO and 0.13% for SPMO.

SPMO currently has the higher Sharpe Ratio (1.07 vs -0.58), 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.

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