FWD vs. SPMO
FWD (AB Disruptors ETF) and SPMO (Invesco S&P 500 Momentum ETF) are both exchange-traded funds - FWD is a Global Equities fund actively managed by AllianceBernstein, while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. FWD is actively managed, while SPMO is passively managed. Over the past 3 years, FWD returned 29.50%/yr vs 37.36%/yr for SPMO. Their correlation of 0.82 means they have usually moved in the same direction. FWD charges 0.65%/yr vs 0.13%/yr for SPMO.
Performance
FWD vs. SPMO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with FWD having a 20.07% return and SPMO slightly higher at 21.07%.
FWD
- 1D
- 1.20%
- 1M
- -8.86%
- 6M
- 11.18%
- YTD
- 20.07%
- 1Y
- 39.21%
- 3Y*
- 29.50%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 31.81%
SPMO
- 1D
- 0.29%
- 1M
- -4.64%
- 6M
- 20.51%
- YTD
- 21.07%
- 1Y
- 28.09%
- 3Y*
- 37.36%
- 5Y*
- 20.21%
- 10Y*
- 19.57%
- ALL TIME*
- 18.93%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $39.66M | $42.86M | $36.96M | |
| $331.54M | $346.70M | $350.59M |
FWD vs. SPMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FWD AB Disruptors ETF | 20.07% | 32.00% | 29.23% | 23.48% |
SPMO Invesco S&P 500 Momentum ETF | 21.07% | 26.58% | 45.82% | 24.36% |
Correlation
The correlation between FWD and SPMO is 0.90, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.90 |
Correlation (3Y) Balances recent behavior with more history. | 0.87 |
Correlation (All Time) Calculated using the full available price history since Mar 22, 2023 | 0.82 |
The correlation between FWD and SPMO has been stable across timeframes, ranging from 0.82 to 0.90 - a consistent structural relationship.
FWD vs. SPMO - Sectors Allocation Comparison
Sectors
FWD
SPMO
Technology
Industrials
Healthcare
Communication Services
Consumer Cyclical
Basic Materials
Energy
Consumer Defensive
Real Estate
Financial Services
Utilities
Technology
FWD
SPMO
Industrials
FWD
SPMO
Healthcare
FWD
SPMO
Communication Services
FWD
SPMO
Consumer Cyclical
FWD
SPMO
Basic Materials
FWD
SPMO
Energy
FWD
SPMO
Consumer Defensive
FWD
SPMO
Real Estate
FWD
SPMO
Financial Services
FWD
SPMO
Utilities
FWD
SPMO
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Return for Risk
FWD vs. SPMO — Risk / Return Rank
FWD
SPMO
FWD vs. SPMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AB Disruptors ETF (FWD) 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.
| FWD | SPMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.21 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.78 | 1.63 | +0.16 |
| Martin ratioReturn relative to average drawdown | 6.86 | 5.93 | +0.92 |
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Drawdowns
FWD vs. SPMO - Drawdown Comparison
The maximum FWD drawdown since its inception was -29.02%, smaller than the maximum SPMO drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for FWD and SPMO.
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Drawdown Indicators
| FWD | SPMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.02% | -30.95% | +1.93% |
Max Drawdown (1Y)Largest decline over 1 year | -20.49% | -15.64% | -4.85% |
Max Drawdown (3Y)Largest decline over 3 years | -29.02% | -20.13% | -8.89% |
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 | -15.78% | -11.03% | -4.75% |
Average DrawdownAverage peak-to-trough decline | -4.26% | -4.62% | +0.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.32% | 4.29% | +1.03% |
Volatility
FWD vs. SPMO - Volatility Comparison
AB Disruptors ETF (FWD) has a higher volatility of 11.37% compared to Invesco S&P 500 Momentum ETF (SPMO) at 10.53%. This indicates that FWD'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
| FWD | SPMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.37% | 10.53% | +0.84% |
Volatility (6M)Calculated over the trailing 6-month period | 24.87% | 21.52% | +3.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.47% | 23.90% | +5.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.00% | 20.60% | +5.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.00% | 20.92% | +5.08% |
FWD vs. SPMO - Expense Ratio Comparison
FWD has a 0.65% expense ratio, which is higher than SPMO's 0.13% expense ratio.
Dividends
FWD vs. SPMO - Dividend Comparison
FWD's dividend yield for the trailing twelve months is around 0.09%, less than SPMO's 0.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FWD AB Disruptors ETF | 0.09% | 0.11% | 1.89% | 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 | 0.73% | 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
With a correlation of 0.90, FWD and SPMO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
FWD has higher volatility (11.37%) compared to SPMO (10.53%). In terms of maximum drawdown, FWD dropped -29.02% vs SPMO's -30.95%.
On 3-year performance, SPMO leads with 37.36% vs 29.50% for FWD. On fees, SPMO is cheaper at 0.13% per year. On volatility, SPMO has been the lower-risk option at 10.53%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SPMO has performed better with a 37.36% return vs 29.50%. 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 0.65% for FWD.
SPMO has the higher dividend yield at 0.73%, compared with 0.09% for FWD.
FWD is categorized as Global Equities, while SPMO is Momentum. They also come from different issuers: AllianceBernstein and Invesco. Their fees differ too: 0.65% for FWD and 0.13% for SPMO.
FWD currently has the higher Sharpe Ratio (1.24 vs 1.07), 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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