FXB vs. SPMO
FXB (Invesco CurrencyShares® British Pound Sterling Trust) and SPMO (Invesco S&P 500 Momentum ETF) are both exchange-traded funds - FXB is a Currency fund tracking the British Pound, while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. Both are passively managed. Over the past 10 years, FXB returned 0.80%/yr vs 21.44%/yr for SPMO. At a 0.21 correlation, their price movements are largely independent. FXB charges 0.40%/yr vs 0.13%/yr for SPMO.
Performance
FXB vs. SPMO - Performance Comparison
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Returns By Period
In the year-to-date period, FXB achieves a -1.12% return, which is significantly lower than SPMO's 34.38% return. Over the past 10 years, FXB has underperformed SPMO with an annualized return of 0.80%, while SPMO has yielded a comparatively higher 21.44% annualized return.
FXB
- 1D
- 0.31%
- 1M
- -1.66%
- YTD
- -1.12%
- 6M
- -1.19%
- 1Y
- -1.31%
- 3Y*
- 4.08%
- 5Y*
- 0.87%
- 10Y*
- 0.80%
SPMO
- 1D
- 3.80%
- 1M
- 6.73%
- YTD
- 34.38%
- 6M
- 32.02%
- 1Y
- 46.41%
- 3Y*
- 43.94%
- 5Y*
- 23.75%
- 10Y*
- 21.44%
FXB vs. SPMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXB Invesco CurrencyShares® British Pound Sterling Trust | -1.12% | 10.37% | 1.35% | 8.58% | -10.45% | -1.54% | 2.87% | 3.87% | -5.75% | 9.10% |
SPMO Invesco S&P 500 Momentum ETF | 34.38% | 26.58% | 45.82% | 17.56% | -10.45% | 22.64% | 28.25% | 25.93% | -0.92% | 27.76% |
Correlation
The correlation between FXB and SPMO is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 2015 | 0.21 |
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Return for Risk
FXB vs. SPMO — Risk / Return Rank
FXB
SPMO
FXB vs. SPMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® British Pound Sterling Trust (FXB) 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.
| FXB | SPMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.45 | ||
| Sortino ratioReturn per unit of downside risk | -3.20 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.41 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.29 | 3.67 | -3.96 |
| Martin ratioReturn relative to average drawdown | -0.58 | 13.76 | -14.34 |
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Drawdowns
FXB vs. SPMO - Drawdown Comparison
The maximum FXB drawdown since its inception was -48.99%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for FXB and SPMO.
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Drawdown Indicators
| FXB | SPMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.99% | -30.95% | -18.04% |
Max Drawdown (1Y)Largest decline over 1 year | -4.53% | -12.70% | +8.17% |
Max Drawdown (3Y)Largest decline over 3 years | -8.44% | -20.13% | +11.69% |
Max Drawdown (5Y)Largest decline over 5 years | -23.61% | -22.74% | -0.87% |
Max Drawdown (10Y)Largest decline over 10 years | -26.11% | -30.95% | +4.84% |
Current DrawdownCurrent decline from peak | -30.61% | -1.25% | -29.36% |
Average DrawdownAverage peak-to-trough decline | -27.54% | -4.59% | -22.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.28% | 3.38% | -1.10% |
Volatility
FXB vs. SPMO - Volatility Comparison
The current volatility for Invesco CurrencyShares® British Pound Sterling Trust (FXB) is 1.66%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 11.90%. This indicates that FXB 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
| FXB | SPMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.66% | 11.90% | -10.24% |
Volatility (6M)Calculated over the trailing 6-month period | 4.87% | 18.07% | -13.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.49% | 20.80% | -14.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.48% | 19.94% | -11.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.86% | 20.63% | -11.77% |
FXB vs. SPMO - Expense Ratio Comparison
FXB has a 0.40% expense ratio, which is higher than SPMO's 0.13% expense ratio.
Dividends
FXB vs. SPMO - Dividend Comparison
FXB's dividend yield for the trailing twelve months is around 2.24%, more than SPMO's 0.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXB Invesco CurrencyShares® British Pound Sterling Trust | 2.24% | 2.44% | 3.25% | 2.59% | 0.29% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPMO Invesco S&P 500 Momentum ETF | 0.66% | 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
FXB and SPMO have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPMO has higher volatility (11.90%) compared to FXB (1.66%). In terms of maximum drawdown, FXB dropped -48.99% vs SPMO's -30.95%.
On 10-year performance, SPMO leads with 21.44% vs 0.80% for FXB. On fees, SPMO is cheaper at 0.13% per year. On volatility, FXB has been the lower-risk option at 1.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPMO has performed better with a 21.44% return vs 0.80%. 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 0.40% for FXB.
FXB has the higher dividend yield at 2.24%, compared with 0.66% for SPMO.
FXB is categorized as Currency, while SPMO is Momentum. FXB tracks British Pound, while SPMO tracks S&P 500 Momentum Index. Their fees differ too: 0.40% for FXB and 0.13% for SPMO.
SPMO currently has the higher Sharpe Ratio (2.24 vs -0.20), 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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