GDXY vs. SPMO
GDXY (YieldMax Gold Miners Option Income Strategy ETF) and SPMO (Invesco S&P 500 Momentum ETF) are both exchange-traded funds - GDXY is a Gold fund actively managed by YieldMax, while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. GDXY is actively managed, while SPMO is passively managed. Over the past year, GDXY returned 13.14% vs 28.09% for SPMO. Their 0.27 correlation means their historical movements had little consistent relationship. GDXY charges 1.08%/yr vs 0.13%/yr for SPMO.
Performance
GDXY vs. SPMO - Performance Comparison
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Returns By Period
In the year-to-date period, GDXY achieves a -18.85% return, which is significantly lower than SPMO's 21.07% return.
GDXY
- 1D
- -2.75%
- 1M
- -3.94%
- 6M
- -22.61%
- YTD
- -18.85%
- 1Y
- 13.14%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 14.49%
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) |
|---|---|---|---|
| $4.52M | $4.39M | $7.85M | |
| $331.54M | $346.70M | $350.59M |
GDXY vs. SPMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GDXY YieldMax Gold Miners Option Income Strategy ETF | -18.85% | 88.08% | -11.84% |
SPMO Invesco S&P 500 Momentum ETF | 21.07% | 26.58% | 17.43% |
Correlation
The correlation between GDXY and SPMO is 0.39, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.39 |
Correlation (All Time) Calculated using the full available price history since May 21, 2024 | 0.27 |
The correlation between GDXY and SPMO shifts across timeframes, from 0.27 (all time) to 0.39 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GDXY vs. SPMO — Risk / Return Rank
GDXY
SPMO
GDXY vs. SPMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax Gold Miners Option Income Strategy ETF (GDXY) 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.
| GDXY | SPMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.70 | ||
| Sortino ratioReturn per unit of downside risk | -0.86 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.21 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.39 | 1.63 | -1.24 |
| Martin ratioReturn relative to average drawdown | 0.85 | 5.93 | -5.08 |
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Drawdowns
GDXY vs. SPMO - Drawdown Comparison
The maximum GDXY drawdown since its inception was -36.99%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for GDXY and SPMO.
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Drawdown Indicators
| GDXY | SPMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.99% | -30.95% | -6.04% |
Max Drawdown (1Y)Largest decline over 1 year | -36.99% | -15.64% | -21.35% |
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 | -34.85% | -11.03% | -23.82% |
Average DrawdownAverage peak-to-trough decline | -8.31% | -4.62% | -3.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.02% | 4.29% | +12.73% |
Volatility
GDXY vs. SPMO - Volatility Comparison
The current volatility for YieldMax Gold Miners Option Income Strategy ETF (GDXY) is 9.85%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 10.53%. This indicates that GDXY 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
| GDXY | SPMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.85% | 10.53% | -0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 33.12% | 21.52% | +11.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.36% | 23.90% | +15.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.57% | 20.60% | +11.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.57% | 20.92% | +11.65% |
GDXY vs. SPMO - Expense Ratio Comparison
GDXY has a 1.08% expense ratio, which is higher than SPMO's 0.13% expense ratio.
Dividends
GDXY vs. SPMO - Dividend Comparison
GDXY's dividend yield for the trailing twelve months is around 88.00%, more than SPMO's 0.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GDXY YieldMax Gold Miners Option Income Strategy ETF | 88.00% | 52.13% | 23.91% | 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
GDXY and SPMO have a correlation of 0.39, 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 GDXY (9.85%). In terms of maximum drawdown, GDXY dropped -36.99% vs SPMO's -30.95%.
On 1-year performance, SPMO leads with 28.09% vs 13.14% for GDXY. On fees, SPMO is cheaper at 0.13% per year. On volatility, GDXY has been the lower-risk option at 9.85%. 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 28.09% return vs 13.14%. 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 1.08% for GDXY.
GDXY has the higher dividend yield at 88.00%, compared with 0.73% for SPMO.
GDXY is categorized as Gold, while SPMO is Momentum. They also come from different issuers: YieldMax and Invesco. Their fees differ too: 1.08% for GDXY and 0.13% for SPMO.
SPMO currently has the higher Sharpe Ratio (1.07 vs 0.37), 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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