GOLDX vs. SPMO
Compare and contrast key facts about Gabelli Gold Fund (GOLDX) and Invesco S&P 500 Momentum ETF (SPMO).
GOLDX is managed by Gabelli. It was launched on Jul 10, 1994. SPMO is a passively managed fund by Invesco that tracks the performance of the S&P 500 Momentum Index. It was launched on Oct 9, 2015.
Performance
GOLDX vs. SPMO - Performance Comparison
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GOLDX vs. SPMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GOLDX Gabelli Gold Fund | 5.89% | 165.59% | 14.92% | 7.85% | -11.02% | -8.97% | 26.30% | 43.94% | -14.80% | 6.22% |
SPMO Invesco S&P 500 Momentum ETF | -3.77% | 26.58% | 45.82% | 17.56% | -10.45% | 22.64% | 28.25% | 25.93% | -0.92% | 27.76% |
Returns By Period
In the year-to-date period, GOLDX achieves a 5.89% return, which is significantly higher than SPMO's -3.77% return. Both investments have delivered pretty close results over the past 10 years, with GOLDX having a 17.50% annualized return and SPMO not far behind at 17.41%.
GOLDX
- 1D
- 6.90%
- 1M
- -22.40%
- YTD
- 5.89%
- 6M
- 26.14%
- 1Y
- 112.30%
- 3Y*
- 46.83%
- 5Y*
- 25.75%
- 10Y*
- 17.50%
SPMO
- 1D
- 2.13%
- 1M
- -4.40%
- YTD
- -3.77%
- 6M
- -4.53%
- 1Y
- 23.97%
- 3Y*
- 29.27%
- 5Y*
- 17.66%
- 10Y*
- 17.41%
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GOLDX vs. SPMO - Expense Ratio Comparison
GOLDX has a 1.51% expense ratio, which is higher than SPMO's 0.13% expense ratio.
Return for Risk
GOLDX vs. SPMO — Risk / Return Rank
GOLDX
SPMO
GOLDX vs. SPMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Gabelli Gold Fund (GOLDX) 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.
| GOLDX | SPMO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.66 | 1.06 | +1.61 |
Sortino ratioReturn per unit of downside risk | 2.82 | 1.60 | +1.21 |
Omega ratioGain probability vs. loss probability | 1.42 | 1.24 | +0.18 |
Calmar ratioReturn relative to maximum drawdown | 3.56 | 1.96 | +1.60 |
Martin ratioReturn relative to average drawdown | 13.69 | 6.90 | +6.79 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GOLDX | SPMO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.66 | 1.06 | +1.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.81 | 0.93 | -0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | 0.87 | -0.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.24 | 0.86 | -0.62 |
Correlation
The correlation between GOLDX and SPMO is 0.18, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
GOLDX vs. SPMO - Dividend Comparison
GOLDX's dividend yield for the trailing twelve months is around 14.70%, more than SPMO's 0.89% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GOLDX Gabelli Gold Fund | 14.70% | 15.57% | 2.11% | 1.13% | 0.00% | 0.00% | 1.69% | 0.83% | 0.34% | 0.51% | 2.18% | 0.00% |
SPMO Invesco S&P 500 Momentum ETF | 0.89% | 0.73% | 0.48% | 1.63% | 1.66% | 0.52% | 1.27% | 1.39% | 1.05% | 0.77% | 1.94% | 0.36% |
Drawdowns
GOLDX vs. SPMO - Drawdown Comparison
The maximum GOLDX drawdown since its inception was -73.40%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for GOLDX and SPMO.
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Drawdown Indicators
| GOLDX | SPMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.40% | -30.95% | -42.45% |
Max Drawdown (1Y)Largest decline over 1 year | -31.96% | -12.70% | -19.26% |
Max Drawdown (5Y)Largest decline over 5 years | -44.73% | -22.74% | -21.99% |
Max Drawdown (10Y)Largest decline over 10 years | -49.42% | -30.95% | -18.47% |
Current DrawdownCurrent decline from peak | -22.40% | -7.31% | -15.09% |
Average DrawdownAverage peak-to-trough decline | -34.57% | -4.66% | -29.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.30% | 3.60% | +4.70% |
Volatility
GOLDX vs. SPMO - Volatility Comparison
Gabelli Gold Fund (GOLDX) has a higher volatility of 17.80% compared to Invesco S&P 500 Momentum ETF (SPMO) at 7.22%. This indicates that GOLDX'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
| GOLDX | SPMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.80% | 7.22% | +10.58% |
Volatility (6M)Calculated over the trailing 6-month period | 35.59% | 12.80% | +22.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.77% | 22.77% | +20.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.90% | 19.08% | +12.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.24% | 20.09% | +12.15% |