FCCM.NEO vs. SPMO

Last updated Jun 4, 2026

FCCM.NEO (Fidelity Canadian Momentum Index ETF) and SPMO (Invesco S&P 500 Momentum ETF) are both Momentum funds - FCCM.NEO tracks the Fidelity Canada Canadian Momentum Index while SPMO tracks the S&P 500 Momentum Index. Both are passively managed. Over the past 5 years, FCCM.NEO returned 18.77%/yr vs 27.61%/yr for SPMO. At a 0.31 correlation, their price movements are largely independent. FCCM.NEO charges 0.38%/yr vs 0.13%/yr for SPMO.

Performance

FCCM.NEO vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Fidelity Canadian Momentum Index ETF (FCCM.NEO) and Invesco S&P 500 Momentum ETF (SPMO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FCCM.NEO is traded in CAD, while SPMO is traded in USD. To make them comparable, the SPMO values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, FCCM.NEO achieves a 9.66% return, which is significantly lower than SPMO's 30.82% return.

FCCM.NEO

• 1D: -1.02%
• 1M: 1.24%
• YTD: 9.66%
• 6M: 12.52%
• 1Y: 41.58%
• 3Y*: 29.13%
• 5Y*: 18.77%
• 10Y*: —

SPMO

• 1D: 0.00%
• 1M: 16.60%
• YTD: 30.82%
• 6M: 28.84%
• 1Y: 46.55%
• 3Y*: 44.27%
• 5Y*: 27.61%
• 10Y*: 21.72%

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

FCCM.NEO vs. SPMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FCCM.NEO Fidelity Canadian Momentum Index ETF	9.66%	43.17%	27.03%	10.10%	-3.42%	14.23%	9.03%
SPMO Invesco S&P 500 Momentum ETF	32.01%	20.78%	58.34%	14.97%	-4.07%	21.54%	17.83%

Correlation

The correlation between FCCM.NEO and SPMO is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.31
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (All Time) Calculated using the full available price history since Jun 15, 2020	0.31

Return for Risk

FCCM.NEO vs. SPMO — Risk / Return Rank

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

FCCM.NEO

FCCM.NEO Risk / Return Rank: 76
FCCM.NEO Sharpe Ratio Rank: 81
FCCM.NEO Sortino Ratio Rank: 76
FCCM.NEO Omega Ratio Rank: 81
FCCM.NEO Calmar Ratio Rank: 67
FCCM.NEO Martin Ratio Rank: 76

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.

FCCM.NEO vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Canadian Momentum Index ETF (FCCM.NEO) 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.

	FCCM.NEO	SPMO	Difference
Sharpe ratio: Return per unit of total volatility	2.69	2.72	-0.03
Sortino ratio: Return per unit of downside risk	3.48	3.67	-0.19
Omega ratio: Gain probability vs. loss probability	1.49	1.49	0.00
Calmar ratio: Return relative to maximum drawdown	3.38	3.65	-0.27
Martin ratio: Return relative to average drawdown	14.71	12.23	+2.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCCM.NEO vs. SPMO - Sharpe Ratio Comparison

The current FCCM.NEO Sharpe Ratio is 2.69, which is comparable to the SPMO Sharpe Ratio of 2.72. The chart below compares the historical Sharpe Ratios of FCCM.NEO 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

	FCCM.NEO	SPMO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.69	2.72	-0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.40	1.57	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.14	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.32	1.10	+0.22

Drawdowns

FCCM.NEO vs. SPMO - Drawdown Comparison

The maximum FCCM.NEO drawdown since its inception was -16.59%, smaller than the maximum SPMO drawdown of -25.58%. Use the drawdown chart below to compare losses from any high point for FCCM.NEO and SPMO.

Drawdown Indicators

	FCCM.NEO	SPMO	Difference
Max Drawdown Largest peak-to-trough decline	-16.59%	-25.58%	+8.99%
Max Drawdown (1Y) Largest decline over 1 year	-12.36%	-12.82%	+0.46%
Max Drawdown (3Y) Largest decline over 3 years	-12.36%	-20.26%	+7.90%
Max Drawdown (5Y) Largest decline over 5 years	-16.59%	-20.69%	+4.10%
Max Drawdown (10Y) Largest decline over 10 years	—	-25.58%	—
Current Drawdown Current decline from peak	-2.48%	0.00%	-2.48%
Average Drawdown Average peak-to-trough decline	-2.60%	-4.14%	+1.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.84%	3.82%	-0.98%

Volatility

FCCM.NEO vs. SPMO - Volatility Comparison

The current volatility for Fidelity Canadian Momentum Index ETF (FCCM.NEO) is 5.11%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 7.29%. This indicates that FCCM.NEO 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.

Volatility by Period

	FCCM.NEO	SPMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.11%	7.29%	-2.18%
Volatility (6M) Calculated over the trailing 6-month period	12.59%	13.95%	-1.36%
Volatility (1Y) Calculated over the trailing 1-year period	15.56%	17.23%	-1.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.46%	17.71%	-4.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.41%	19.10%	-5.69%

FCCM.NEO vs. SPMO - Expense Ratio Comparison

FCCM.NEO has a 0.38% expense ratio, which is higher than SPMO's 0.13% expense ratio.

Dividends

FCCM.NEO vs. SPMO - Dividend Comparison

FCCM.NEO's dividend yield for the trailing twelve months is around 0.83%, more than SPMO's 0.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCCM.NEO Fidelity Canadian Momentum Index ETF	0.83%	0.91%	0.91%	1.32%	1.79%	1.49%	0.78%	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 FCCM.NEO and SPMO in my portfolio?

FCCM.NEO and SPMO have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FCCM.NEO or SPMO?

On fees, SPMO is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FCCM.NEO or SPMO?

SPMO is cheaper with a 0.13% expense ratio, compared with 0.38% for FCCM.NEO.

What is the main difference between FCCM.NEO and SPMO?

FCCM.NEO tracks Fidelity Canada Canadian Momentum Index, while SPMO tracks S&P 500 Momentum Index. They also come from different issuers: Fidelity and Invesco. Their fees differ too: 0.38% for FCCM.NEO and 0.13% for SPMO.