IALT vs. SPMO

Last updated Jun 25, 2026

IALT (iShares Systematic Alternatives Active ETF) and SPMO (Invesco S&P 500 Momentum ETF) are both exchange-traded funds - IALT is a Multistrategy fund actively managed by iShares, while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. IALT is actively managed, while SPMO is passively managed. A 0.54 correlation means they provide meaningful diversification when combined. IALT charges 0.99%/yr vs 0.13%/yr for SPMO.

Performance

IALT vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Systematic Alternatives Active ETF (IALT) 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, IALT achieves a 11.16% return, which is significantly lower than SPMO's 29.45% return.

IALT

• 1D: -0.78%
• 1M: -0.17%
• YTD: 11.16%
• 6M: 10.69%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPMO

• 1D: -0.36%
• 1M: 6.27%
• YTD: 29.45%
• 6M: 27.18%
• 1Y: 41.07%
• 3Y*: 42.30%
• 5Y*: 22.83%
• 10Y*: 20.99%

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

IALT vs. SPMO - Yearly Performance Comparison

	2026 (YTD)	2025
IALT iShares Systematic Alternatives Active ETF	11.16%	0.83%
SPMO Invesco S&P 500 Momentum ETF	29.45%	-0.92%

Correlation

The correlation between IALT and SPMO is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 10, 2025	0.54

Return for Risk

IALT vs. SPMO — Risk / Return Rank

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

IALT

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

SPMO

SPMO Risk / Return Rank: 70
SPMO Sharpe Ratio Rank: 70
SPMO Sortino Ratio Rank: 65
SPMO Omega Ratio Rank: 70
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.

IALT vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Systematic Alternatives Active ETF (IALT) 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.

	IALT	SPMO	Difference
Sharpe ratio: Return per unit of total volatility	—	2.02	—
Sortino ratio: Return per unit of downside risk	—	2.68	—
Omega ratio: Gain probability vs. loss probability	—	1.37	—
Calmar ratio: Return relative to maximum drawdown	—	3.25	—
Martin ratio: Return relative to average drawdown	—	12.18	—

Drawdowns

IALT vs. SPMO - Drawdown Comparison

The maximum IALT drawdown since its inception was -2.27%, smaller than the maximum SPMO drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for IALT and SPMO.

Drawdown Indicators

	IALT	SPMO	Difference
Max Drawdown Largest peak-to-trough decline	-2.27%	-30.95%	+28.68%
Max Drawdown (1Y) Largest decline over 1 year	—	-12.70%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-20.13%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-22.74%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-30.95%	—
Current Drawdown Current decline from peak	-1.82%	-4.87%	+3.05%
Average Drawdown Average peak-to-trough decline	-0.40%	-4.59%	+4.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.38%	—

Volatility

Volatility by Period

	IALT	SPMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.77%	—
Volatility (6M) Calculated over the trailing 6-month period	—	17.74%	—
Volatility (1Y) Calculated over the trailing 1-year period	7.86%	20.51%	-12.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.86%	19.87%	-12.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.86%	20.60%	-12.74%

IALT vs. SPMO - Expense Ratio Comparison

IALT has a 0.99% expense ratio, which is higher than SPMO's 0.13% expense ratio.

Dividends

IALT vs. SPMO - Dividend Comparison

IALT's dividend yield for the trailing twelve months is around 0.40%, less than SPMO's 0.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IALT iShares Systematic Alternatives Active ETF	0.40%	0.14%	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	0.68%	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 IALT and SPMO in my portfolio?

IALT and SPMO have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IALT 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, IALT or SPMO?

SPMO is cheaper with a 0.13% expense ratio, compared with 0.99% for IALT.

Which ETF pays a higher dividend yield, IALT or SPMO?

SPMO has the higher dividend yield at 0.68%, compared with 0.40% for IALT.

What is the main difference between IALT and SPMO?

IALT is categorized as Multistrategy, while SPMO is Momentum. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.99% for IALT and 0.13% for SPMO.