GZPZY vs. SPMO

Last updated Jun 4, 2026

GZPZY (Gaztransport & Technigaz SA) is a stock, while SPMO (Invesco S&P 500 Momentum ETF) is Momentum fund tracking the S&P 500 Momentum Index. Over the past 5 years, GZPZY returned 25.44%/yr vs 24.29%/yr for SPMO. At a 0.04 correlation, their price movements are largely independent.

Performance

GZPZY vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gaztransport & Technigaz SA (GZPZY) and Invesco S&P 500 Momentum ETF (SPMO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GZPZY achieves a 22.29% return, which is significantly lower than SPMO's 30.35% return.

GZPZY

• 1D: 0.00%
• 1M: -2.84%
• YTD: 22.29%
• 6M: 16.94%
• 1Y: 22.66%
• 3Y*: 41.89%
• 5Y*: 25.44%
• 10Y*: —

SPMO

• 1D: 0.50%
• 1M: 15.36%
• YTD: 30.35%
• 6M: 30.51%
• 1Y: 46.00%
• 3Y*: 43.04%
• 5Y*: 24.29%
• 10Y*: 20.95%

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

GZPZY vs. SPMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
GZPZY Gaztransport & Technigaz SA	22.29%	48.62%	-0.28%	35.16%	16.13%	-0.66%	0.00%
SPMO Invesco S&P 500 Momentum ETF	30.35%	26.58%	45.82%	17.56%	-10.45%	22.64%	3.52%

Correlation

The correlation between GZPZY and SPMO is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.03
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.03
Correlation (All Time) Calculated using the full available price history since Dec 10, 2020	0.04

Return for Risk

GZPZY vs. SPMO — Risk / Return Rank

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

GZPZY

GZPZY Risk / Return Rank: 77
GZPZY Sharpe Ratio Rank: 69
GZPZY Sortino Ratio Rank: 68
GZPZY Omega Ratio Rank: 92
GZPZY Calmar Ratio Rank: 80
GZPZY 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.

GZPZY vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gaztransport & Technigaz SA (GZPZY) 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.

	GZPZY	SPMO	Difference
Sharpe ratio: Return per unit of total volatility	0.89	2.62	-1.73
Sortino ratio: Return per unit of downside risk	1.61	3.54	-1.93
Omega ratio: Gain probability vs. loss probability	1.48	1.47	+0.01
Calmar ratio: Return relative to maximum drawdown	2.59	3.64	-1.05
Martin ratio: Return relative to average drawdown	5.20	14.17	-8.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GZPZY vs. SPMO - Sharpe Ratio Comparison

The current GZPZY Sharpe Ratio is 0.89, which is lower than the SPMO Sharpe Ratio of 2.62. The chart below compares the historical Sharpe Ratios of GZPZY 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

	GZPZY	SPMO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.89	2.62	-1.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.88	1.27	-0.39
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.03	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	1.01	-0.28

Drawdowns

GZPZY vs. SPMO - Drawdown Comparison

The maximum GZPZY drawdown since its inception was -32.48%, roughly equal to the maximum SPMO drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for GZPZY and SPMO.

Drawdown Indicators

	GZPZY	SPMO	Difference
Max Drawdown Largest peak-to-trough decline	-32.48%	-30.95%	-1.53%
Max Drawdown (1Y) Largest decline over 1 year	-8.82%	-12.70%	+3.88%
Max Drawdown (3Y) Largest decline over 3 years	-15.31%	-20.13%	+4.82%
Max Drawdown (5Y) Largest decline over 5 years	-32.48%	-22.74%	-9.74%
Max Drawdown (10Y) Largest decline over 10 years	—	-30.95%	—
Current Drawdown Current decline from peak	-6.70%	0.00%	-6.70%
Average Drawdown Average peak-to-trough decline	-9.01%	-4.60%	-4.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.38%	3.26%	+1.12%

Volatility

GZPZY vs. SPMO - Volatility Comparison

Gaztransport & Technigaz SA (GZPZY) and Invesco S&P 500 Momentum ETF (SPMO) have volatilities of 7.68% and 7.35%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GZPZY	SPMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.68%	7.35%	+0.33%
Volatility (6M) Calculated over the trailing 6-month period	20.39%	14.39%	+6.00%
Volatility (1Y) Calculated over the trailing 1-year period	26.71%	17.64%	+9.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.39%	19.30%	+10.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.90%	20.31%	+8.59%

Dividends

GZPZY vs. SPMO - Dividend Comparison

GZPZY's dividend yield for the trailing twelve months is around 3.95%, more than SPMO's 0.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GZPZY Gaztransport & Technigaz SA	3.95%	4.83%	4.97%	2.66%	2.26%	3.19%	0.00%	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 GZPZY and SPMO in my portfolio?

GZPZY and SPMO have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GZPZY or SPMO?

GZPZY has higher volatility (7.68%) compared to SPMO (7.35%). In terms of maximum drawdown, GZPZY dropped -32.48% vs SPMO's -30.95%.

Which has better risk-adjusted returns?

SPMO currently has the higher Sharpe Ratio (2.62 vs 0.89), 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.