HDGE.TO vs. SPMO

Last updated Jul 25, 2026

HDGE.TO (Accelerate Absolute Return Fund) and SPMO (Invesco S&P 500 Momentum ETF) are both exchange-traded funds - HDGE.TO is a Long-Short fund actively managed by Accelerate Financial Technologies Inc., while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. HDGE.TO is actively managed, while SPMO is passively managed. Over the past 5 years, HDGE.TO returned 13.68%/yr vs 23.24%/yr for SPMO. At a 0.10 correlation, their price movements are largely independent. HDGE.TO charges 3.95%/yr vs 0.13%/yr for SPMO.

Performance

HDGE.TO vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Accelerate Absolute Return Fund (HDGE.TO) and Invesco S&P 500 Momentum ETF (SPMO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HDGE.TO is traded in CAD, while SPMO is traded in USD. To make them comparable, the SPMO values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, HDGE.TO achieves a 0.87% return, which is significantly lower than SPMO's 26.90% return.

HDGE.TO

• 1D: -0.54%
• 1M: -1.49%
• 6M: 3.31%
• YTD: 0.87%
• 1Y: 7.70%
• 3Y*: 9.13%
• 5Y*: 13.68%
• 10Y*: —
• ALL TIME*: 6.67%

SPMO

• 1D: -2.17%
• 1M: -5.52%
• 6M: 27.58%
• YTD: 26.90%
• 1Y: 33.87%
• 3Y*: 41.23%
• 5Y*: 23.24%
• 10Y*: 20.56%
• ALL TIME*: 20.11%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HDGE.TO Accelerate Absolute Return Fund	CA$3.92K	CA$12.94K	CA$12.62K
SPMO Invesco S&P 500 Momentum ETF	CA$457.22M	CA$499.90M	CA$470.50M

HDGE.TO vs. SPMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
HDGE.TO Accelerate Absolute Return Fund	0.87%	3.68%	22.91%	3.36%	15.47%	27.57%	-20.14%	1.86%
SPMO Invesco S&P 500 Momentum ETF	26.90%	20.80%	58.16%	14.76%	-4.78%	22.58%	25.21%	5.46%

Correlation

The correlation between HDGE.TO and SPMO is 0.10, 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	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.10
Correlation (All Time) Calculated using the full available price history since May 10, 2019	0.10

Return for Risk

HDGE.TO vs. SPMO — Risk / Return Rank

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

HDGE.TO

HDGE.TO Risk / Return Rank: 25
HDGE.TO Sharpe Ratio Rank: 25
HDGE.TO Sortino Ratio Rank: 23
HDGE.TO Omega Ratio Rank: 24
HDGE.TO Calmar Ratio Rank: 27
HDGE.TO Martin Ratio Rank: 28

SPMO

SPMO Risk / Return Rank: 58
SPMO Sharpe Ratio Rank: 54
SPMO Sortino Ratio Rank: 51
SPMO Omega Ratio Rank: 55
SPMO Calmar Ratio Rank: 66
SPMO Martin Ratio Rank: 62

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.

HDGE.TO vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Accelerate Absolute Return Fund (HDGE.TO) 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.

	HDGE.TO	SPMO	Difference
Sharpe ratio: Return per unit of total volatility	0.56	1.46	-0.90
Sortino ratio: Return per unit of downside risk	0.86	2.03	-1.17
Omega ratio: Gain probability vs. loss probability	1.11	1.27	-0.16
Calmar ratio: Return relative to maximum drawdown	0.85	2.63	-1.78
Martin ratio: Return relative to average drawdown	2.31	7.68	-5.36

HDGE.TO vs. SPMO - Sharpe Ratio Comparison

The current HDGE.TO Sharpe Ratio is 0.56, which is lower than the SPMO Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of HDGE.TO 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.

Drawdowns

HDGE.TO vs. SPMO - Drawdown Comparison

The maximum HDGE.TO drawdown since its inception was -29.81%, which is greater than SPMO's maximum drawdown of -26.80%. Use the drawdown chart below to compare losses from any high point for HDGE.TO and SPMO.

Drawdown Indicators

	HDGE.TO	SPMO	Difference
Max Drawdown Largest peak-to-trough decline	-29.81%	-26.80%	-3.01%
Max Drawdown (1Y) Largest decline over 1 year	-9.07%	-12.95%	+3.88%
Max Drawdown (3Y) Largest decline over 3 years	-12.20%	-21.35%	+9.15%
Max Drawdown (5Y) Largest decline over 5 years	-13.69%	-21.43%	+7.74%
Max Drawdown (10Y) Largest decline over 10 years	—	-26.80%	—
Current Drawdown Current decline from peak	-3.68%	-10.05%	+6.37%
Average Drawdown Average peak-to-trough decline	-8.58%	-4.18%	-4.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.34%	4.42%	-1.08%

Volatility

HDGE.TO vs. SPMO - Volatility Comparison

The current volatility for Accelerate Absolute Return Fund (HDGE.TO) is 4.43%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 11.33%. This indicates that HDGE.TO 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.

Volatility by Period

	HDGE.TO	SPMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.43%	11.33%	-6.90%
Volatility (6M) Calculated over the trailing 6-month period	11.52%	20.94%	-9.42%
Volatility (1Y) Calculated over the trailing 1-year period	13.92%	23.33%	-9.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.45%	21.34%	-4.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.26%	21.92%	-4.66%

HDGE.TO vs. SPMO - Expense Ratio Comparison

HDGE.TO has a 3.95% expense ratio, which is higher than SPMO's 0.13% expense ratio.

Dividends

HDGE.TO vs. SPMO - Dividend Comparison

HDGE.TO's dividend yield for the trailing twelve months is around 1.45%, more than SPMO's 0.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HDGE.TO Accelerate Absolute Return Fund	1.45%	1.45%	1.48%	2.10%	2.14%	2.05%	3.01%	0.99%	0.00%	0.00%	0.00%	0.00%
SPMO Invesco S&P 500 Momentum ETF	0.72%	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 HDGE.TO and SPMO in my portfolio?

HDGE.TO and SPMO have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HDGE.TO or SPMO?

On fees, SPMO is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HDGE.TO or SPMO?

SPMO is cheaper with a 0.13% expense ratio, compared with 3.95% for HDGE.TO.

What is the main difference between HDGE.TO and SPMO?

HDGE.TO is categorized as Long-Short, while SPMO is Momentum. They also come from different issuers: Accelerate Financial Technologies Inc. and Invesco. Their fees differ too: 3.95% for HDGE.TO and 0.13% for SPMO.