ETHA vs. SPMO
ETHA (iShares Ethereum Trust ETF) and SPMO (Invesco S&P 500 Momentum ETF) are both exchange-traded funds - ETHA is a Cryptocurrency fund tracking the CME CF Ether Dollar Reference Rate - New York Variant, while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. Both are passively managed. Over the past year, ETHA returned -46.41% vs 32.07% for SPMO. Their 0.44 correlation means their historical movements had little consistent relationship. ETHA charges 0.25%/yr vs 0.13%/yr for SPMO.
Performance
ETHA vs. SPMO - Performance Comparison
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Returns By Period
In the year-to-date period, ETHA achieves a -35.44% return, which is significantly lower than SPMO's 26.49% return.
ETHA
- 1D
- 2.33%
- 1M
- 6.86%
- 6M
- -11.38%
- YTD
- -35.44%
- 1Y
- -46.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -25.83%
SPMO
- 1D
- -0.60%
- 1M
- -1.77%
- 6M
- 28.96%
- YTD
- 26.49%
- 1Y
- 32.07%
- 3Y*
- 39.71%
- 5Y*
- 20.97%
- 10Y*
- 20.10%
- ALL TIME*
- 19.38%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $419.00M | $406.74M | $410.66M | |
| $342.72M | $341.89M | $352.43M |
ETHA vs. SPMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETHA iShares Ethereum Trust ETF | -35.44% | -11.31% | -4.89% |
SPMO Invesco S&P 500 Momentum ETF | 26.49% | 26.58% | 8.71% |
Correlation
The correlation between ETHA and SPMO is 0.42, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.42 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024 | 0.44 |
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Return for Risk
ETHA vs. SPMO — Risk / Return Rank
ETHA
SPMO
ETHA vs. SPMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Ethereum Trust ETF (ETHA) 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.
| ETHA | SPMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.03 | ||
| Sortino ratioReturn per unit of downside risk | -2.74 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.25 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.69 | 2.06 | -2.74 |
| Martin ratioReturn relative to average drawdown | -1.01 | 7.35 | -8.36 |
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Drawdowns
ETHA vs. SPMO - Drawdown Comparison
The maximum ETHA drawdown since its inception was -67.91%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for ETHA and SPMO.
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Drawdown Indicators
| ETHA | SPMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.91% | -30.95% | -36.96% |
Max Drawdown (1Y)Largest decline over 1 year | -67.91% | -15.64% | -52.27% |
Max Drawdown (3Y)Largest decline over 3 years | — | -20.13% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -22.74% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -30.95% | — |
Current DrawdownCurrent decline from peak | -60.43% | -7.05% | -53.38% |
Average DrawdownAverage peak-to-trough decline | -35.35% | -4.62% | -30.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 45.85% | 4.37% | +41.48% |
Volatility
ETHA vs. SPMO - Volatility Comparison
iShares Ethereum Trust ETF (ETHA) has a higher volatility of 11.68% compared to Invesco S&P 500 Momentum ETF (SPMO) at 10.70%. This indicates that ETHA'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.
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Volatility by Period
| ETHA | SPMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.68% | 10.70% | +0.98% |
Volatility (6M)Calculated over the trailing 6-month period | 43.78% | 21.85% | +21.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.06% | 24.09% | +42.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.34% | 20.69% | +50.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.34% | 20.97% | +50.37% |
ETHA vs. SPMO - Expense Ratio Comparison
ETHA has a 0.25% expense ratio, which is higher than SPMO's 0.13% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
ETHA vs. SPMO - Dividend Comparison
ETHA has not paid dividends to shareholders, while SPMO's dividend yield for the trailing twelve months is around 0.70%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETHA iShares Ethereum Trust ETF | 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 | 0.70% | 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
ETHA and SPMO have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETHA has higher volatility (11.68%) compared to SPMO (10.70%). In terms of maximum drawdown, ETHA dropped -67.91% vs SPMO's -30.95%.
On 1-year performance, SPMO leads with 32.07% vs -46.41% for ETHA. On fees, SPMO is cheaper at 0.13% per year. On volatility, SPMO has been the lower-risk option at 10.70%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SPMO has performed better with a 32.07% return vs -46.41%. 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 0.25% for ETHA.
SPMO has the higher dividend yield at 0.70%, compared with 0.00% for ETHA.
ETHA is categorized as Cryptocurrency, while SPMO is Momentum. ETHA tracks CME CF Ether Dollar Reference Rate - New York Variant, while SPMO tracks S&P 500 Momentum Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.25% for ETHA and 0.13% for SPMO.
SPMO currently has the higher Sharpe Ratio (1.34 vs -0.69), 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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