HUT vs. SPMO

Last updated Jun 4, 2026

HUT (Hut 8 Corp. Common Stock) 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, HUT returned 46.13%/yr vs 24.29%/yr for SPMO. At a 0.35 correlation, their price movements are largely independent.

Performance

HUT vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hut 8 Corp. Common Stock (HUT) 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, HUT achieves a 185.79% return, which is significantly higher than SPMO's 30.35% return.

HUT

• 1D: -1.30%
• 1M: 68.15%
• YTD: 185.79%
• 6M: 228.06%
• 1Y: 717.50%
• 3Y*: 129.93%
• 5Y*: 46.13%
• 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)

HUT vs. SPMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
HUT Hut 8 Corp. Common Stock	185.79%	124.21%	53.60%	213.88%	-89.17%	185.45%	250.63%	-25.02%	-70.92%
SPMO Invesco S&P 500 Momentum ETF	30.35%	26.58%	45.82%	17.56%	-10.45%	22.64%	28.25%	25.93%	-7.75%

Correlation

The correlation between HUT and SPMO is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (All Time) Calculated using the full available price history since Mar 9, 2018	0.35

Over the past year, HUT and SPMO have become more correlated (0.56) than their long-term average of 0.35, meaning their price movements have been converging.

Return for Risk

HUT vs. SPMO — Risk / Return Rank

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

HUT

HUT Risk / Return Rank: 97
HUT Sharpe Ratio Rank: 99
HUT Sortino Ratio Rank: 96
HUT Omega Ratio Rank: 94
HUT Calmar Ratio Rank: 99
HUT Martin Ratio Rank: 99

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.

HUT vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hut 8 Corp. Common Stock (HUT) 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.

	HUT	SPMO	Difference
Sharpe ratio: Return per unit of total volatility	7.07	2.62	+4.45
Sortino ratio: Return per unit of downside risk	4.32	3.54	+0.79
Omega ratio: Gain probability vs. loss probability	1.55	1.47	+0.08
Calmar ratio: Return relative to maximum drawdown	18.76	3.64	+15.12
Martin ratio: Return relative to average drawdown	51.68	14.17	+37.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HUT vs. SPMO - Sharpe Ratio Comparison

The current HUT Sharpe Ratio is 7.07, which is higher than the SPMO Sharpe Ratio of 2.62. The chart below compares the historical Sharpe Ratios of HUT 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

	HUT	SPMO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	7.07	2.62	+4.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.44	1.27	-0.83
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.03	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	1.01	-0.77

Drawdowns

HUT vs. SPMO - Drawdown Comparison

The maximum HUT drawdown since its inception was -95.04%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for HUT and SPMO.

Drawdown Indicators

	HUT	SPMO	Difference
Max Drawdown Largest peak-to-trough decline	-95.04%	-30.95%	-64.09%
Max Drawdown (1Y) Largest decline over 1 year	-38.62%	-12.70%	-25.92%
Max Drawdown (3Y) Largest decline over 3 years	-71.68%	-20.13%	-51.55%
Max Drawdown (5Y) Largest decline over 5 years	-95.04%	-22.74%	-72.30%
Max Drawdown (10Y) Largest decline over 10 years	—	-30.95%	—
Current Drawdown Current decline from peak	-1.30%	0.00%	-1.30%
Average Drawdown Average peak-to-trough decline	-63.75%	-4.60%	-59.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.99%	3.26%	+10.73%

Volatility

HUT vs. SPMO - Volatility Comparison

Hut 8 Corp. Common Stock (HUT) has a higher volatility of 35.48% compared to Invesco S&P 500 Momentum ETF (SPMO) at 7.35%. This indicates that HUT'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.

Volatility by Period

	HUT	SPMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	35.48%	7.35%	+28.13%
Volatility (6M) Calculated over the trailing 6-month period	76.12%	14.39%	+61.73%
Volatility (1Y) Calculated over the trailing 1-year period	102.50%	17.64%	+84.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	106.22%	19.30%	+86.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	114.77%	20.31%	+94.46%

Dividends

HUT vs. SPMO - Dividend Comparison

HUT has not paid dividends to shareholders, while SPMO's dividend yield for the trailing twelve months is around 0.65%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HUT Hut 8 Corp. Common Stock	0.00%	0.00%	0.00%	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	0.65%	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 HUT and SPMO in my portfolio?

HUT and SPMO have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HUT or SPMO?

HUT has higher volatility (35.48%) compared to SPMO (7.35%). In terms of maximum drawdown, HUT dropped -95.04% vs SPMO's -30.95%.

Which has better risk-adjusted returns?

HUT currently has the higher Sharpe Ratio (7.07 vs 2.62), 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.