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HXQ.TO vs. SPMO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HXQ.TO vs. SPMO

Last updated Jun 9, 2026

HXQ.TO (Horizons NASDAQ-100 Index ETF) and SPMO (Invesco S&P 500 Momentum ETF) are both exchange-traded funds - HXQ.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. Both are passively managed. Over the past 10 years, HXQ.TO returned 22.16%/yr vs 21.47%/yr for SPMO. A 0.63 correlation means they provide meaningful diversification when combined. HXQ.TO charges 0.25%/yr vs 0.13%/yr for SPMO.

Performance

HXQ.TO vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Horizons NASDAQ-100 Index ETF (HXQ.TO) and Invesco S&P 500 Momentum ETF (SPMO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

HXQ.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, HXQ.TO achieves a 18.52% return, which is significantly lower than SPMO's 26.51% return. Both investments have delivered pretty close results over the past 10 years, with HXQ.TO having a 22.16% annualized return and SPMO not far behind at 21.47%.

HXQ.TO

1D
1.44%
1M
2.69%
YTD
18.52%
6M
15.98%
1Y
38.04%
3Y*
28.80%
5Y*
20.09%
10Y*
22.16%

SPMO

1D
2.74%
1M
4.93%
YTD
26.51%
6M
23.79%
1Y
42.32%
3Y*
42.28%
5Y*
26.57%
10Y*
21.47%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HXQ.TO vs. SPMO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HXQ.TO
Horizons NASDAQ-100 Index ETF		18.52%15.05%35.98%51.16%-27.84%26.20%45.58%32.26%6.71%23.12%
SPMO
Invesco S&P 500 Momentum ETF		26.55%20.80%58.16%14.76%-4.78%22.58%25.21%20.74%7.41%19.11%

Correlation

The correlation between HXQ.TO and SPMO is 0.73, 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

0.73

Correlation (3Y)
Calculated over the trailing 3-year period

0.71

Correlation (5Y)
Calculated over the trailing 5-year period

0.66

Correlation (10Y)
Calculated over the trailing 10-year period

0.64

Correlation (All Time)
Calculated using the full available price history since Apr 22, 2016

0.63

The correlation between HXQ.TO and SPMO has been stable across timeframes, ranging from 0.63 to 0.73 - a consistent structural relationship.

HXQ.TO vs. SPMO - Sectors Allocation Comparison

Sectors
HXQ.TO
SPMO

Technology

55.9%
54.8%

Communication Services

15.8%
8.7%

Consumer Cyclical

13.2%
1.3%

Healthcare

4.4%
6.2%

Consumer Defensive

4.4%
4.0%

Industrials

3.1%
10.9%

Utilities

1.4%
2.5%

Basic Materials

1.0%
1.6%

Energy

0.5%
3.1%

Financial Services

0.3%
5.7%

Real Estate

0.2%
0.9%

Technology

HXQ.TO
55.9%
SPMO
54.8%

Communication Services

HXQ.TO
15.8%
SPMO
8.7%

Consumer Cyclical

HXQ.TO
13.2%
SPMO
1.3%

Healthcare

HXQ.TO
4.4%
SPMO
6.2%

Consumer Defensive

HXQ.TO
4.4%
SPMO
4.0%

Industrials

HXQ.TO
3.1%
SPMO
10.9%

Utilities

HXQ.TO
1.4%
SPMO
2.5%

Basic Materials

HXQ.TO
1.0%
SPMO
1.6%

Energy

HXQ.TO
0.5%
SPMO
3.1%

Financial Services

HXQ.TO
0.3%
SPMO
5.7%

Real Estate

HXQ.TO
0.2%
SPMO
0.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Horizons NASDAQ-100 Index ETF

Invesco S&P 500 Momentum ETF

Often compared with HXQ.TO:
HXQ.TO vs. QQC.TOHXQ.TO vs. XQQ.TOHXQ.TO vs. VFV.TOHXQ.TO vs. QQQHXQ.TO vs. HXS.TOHXQ.TO vs. ZNQ.TOHXQ.TO vs. QQC-F.TO
Often compared with SPMO:
SPMO vs. VOOSPMO vs. QQQSPMO vs. SCHGSPMO vs. MTUMSPMO vs. VUGSPMO vs. VFMOSPMO vs. XMMO

Return for Risk

HXQ.TO vs. SPMO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HXQ.TO
HXQ.TO Risk / Return Rank: 7373
Overall Rank
HXQ.TO Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
HXQ.TO Sortino Ratio Rank: 7575
Sortino Ratio Rank
HXQ.TO Omega Ratio Rank: 7979
Omega Ratio Rank
HXQ.TO Calmar Ratio Rank: 6868
Calmar Ratio Rank
HXQ.TO Martin Ratio Rank: 6161
Martin Ratio Rank
SPMO
SPMO Risk / Return Rank: 7171
Overall Rank
SPMO Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
SPMO Sortino Ratio Rank: 6868
Sortino Ratio Rank
SPMO Omega Ratio Rank: 7373
Omega Ratio Rank
SPMO Calmar Ratio Rank: 6969
Calmar Ratio Rank
SPMO Martin Ratio Rank: 7171
Martin Ratio Rank
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.

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

This table presents a comparison of risk-adjusted performance metrics for Horizons NASDAQ-100 Index ETF (HXQ.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.

HXQ.TOSPMODifference
Sharpe ratioReturn per unit of total volatility
2.35
2.25

+0.11

Sortino ratioReturn per unit of downside risk
3.03
2.98

+0.05

Omega ratioGain probability vs. loss probability

1.42

1.40

+0.02

Calmar ratioReturn relative to maximum drawdown

3.08

3.28

-0.21

Martin ratioReturn relative to average drawdown

9.84

11.06

-1.22

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HXQ.TO vs. SPMO - Sharpe Ratio Comparison

The current HXQ.TO Sharpe Ratio is 2.35, which is comparable to the SPMO Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of HXQ.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.

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Sharpe Ratios by Period

HXQ.TOSPMODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.35

2.25

+0.11

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.97

1.31

-0.34

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

1.07

1.00

+0.06

Sharpe Ratio (All Time)

Calculated using the full available price history

1.06

0.96

+0.09

Drawdowns

HXQ.TO vs. SPMO - Drawdown Comparison

The maximum HXQ.TO drawdown since its inception was -31.60%, which is greater than SPMO's maximum drawdown of -26.80%. Use the drawdown chart below to compare losses from any high point for HXQ.TO and SPMO.

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Drawdown Indicators

HXQ.TOSPMODifference

Max Drawdown

Largest peak-to-trough decline

-31.60%

-26.80%

-4.80%

Max Drawdown (1Y)

Largest decline over 1 year

-12.43%

-12.95%

+0.52%

Max Drawdown (3Y)

Largest decline over 3 years

-22.58%

-21.35%

-1.23%

Max Drawdown (5Y)

Largest decline over 5 years

-31.60%

-21.43%

-10.17%

Max Drawdown (10Y)

Largest decline over 10 years

-31.60%

-26.80%

-4.80%

Current Drawdown

Current decline from peak

-3.52%

-4.00%

+0.48%

Average Drawdown

Average peak-to-trough decline

-5.75%

-4.17%

-1.58%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.88%

3.84%

+0.04%

Volatility

HXQ.TO vs. SPMO - Volatility Comparison

The current volatility for Horizons NASDAQ-100 Index ETF (HXQ.TO) is 6.67%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 9.54%. This indicates that HXQ.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.

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Volatility by Period

HXQ.TOSPMODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.67%

9.54%

-2.87%

Volatility (6M)

Calculated over the trailing 6-month period

12.75%

16.09%

-3.34%

Volatility (1Y)

Calculated over the trailing 1-year period

16.27%

18.96%

-2.69%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.85%

20.40%

+0.45%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.89%

21.50%

-0.61%

HXQ.TO vs. SPMO - Expense Ratio Comparison

HXQ.TO has a 0.25% expense ratio, which is higher than SPMO's 0.13% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

HXQ.TO vs. SPMO - Dividend Comparison

HXQ.TO has not paid dividends to shareholders, while SPMO's dividend yield for the trailing twelve months is around 0.69%.

PositionTTM20252024202320222021202020192018201720162015
HXQ.TO
Horizons NASDAQ-100 Index ETF		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		0.69%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

HXQ.TO and SPMO have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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.

SPMO is cheaper with a 0.13% expense ratio, compared with 0.25% for HXQ.TO.

HXQ.TO is categorized as Nasdaq-100, while SPMO is Momentum. HXQ.TO tracks NASDAQ-100 Index, while SPMO tracks S&P 500 Momentum Index. They also come from different issuers: Horizons and Invesco. Their fees differ too: 0.25% for HXQ.TO and 0.13% for SPMO.

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