IAUM vs. SPMO
IAUM (iShares Gold Trust Micro) and SPMO (Invesco S&P 500 Momentum ETF) are both exchange-traded funds - IAUM is a Gold fund tracking the LBMA Gold Price PM, while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. Both are passively managed. Over the past 5 years, IAUM returned 17.35%/yr vs 20.21%/yr for SPMO. Their 0.10 correlation means their historical movements had little consistent relationship. IAUM charges 0.09%/yr vs 0.13%/yr for SPMO.
Performance
IAUM vs. SPMO - Performance Comparison
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Returns By Period
In the year-to-date period, IAUM achieves a -6.09% return, which is significantly lower than SPMO's 21.07% return.
IAUM
- 1D
- -1.46%
- 1M
- 0.27%
- 6M
- -16.73%
- YTD
- -6.09%
- 1Y
- 23.04%
- 3Y*
- 27.63%
- 5Y*
- 17.35%
- 10Y*
- —
- ALL TIME*
- 17.70%
SPMO
- 1D
- 0.29%
- 1M
- -7.40%
- 6M
- 20.51%
- YTD
- 21.07%
- 1Y
- 25.37%
- 3Y*
- 37.36%
- 5Y*
- 20.21%
- 10Y*
- 19.57%
- ALL TIME*
- 18.93%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $77.48M | $77.88M | $93.44M | |
| $331.54M | $346.70M | $350.59M |
IAUM vs. SPMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IAUM iShares Gold Trust Micro | -6.09% | 64.27% | 27.04% | 13.12% | -0.49% | 3.87% |
SPMO Invesco S&P 500 Momentum ETF | 21.07% | 26.58% | 45.82% | 17.56% | -10.45% | 9.63% |
Correlation
The correlation between IAUM and SPMO is 0.25, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.25 |
Correlation (3Y) Balances recent behavior with more history. | 0.11 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.10 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2021 | 0.10 |
The correlation between IAUM and SPMO shifts across timeframes, from 0.10 (5 years) to 0.25 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IAUM vs. SPMO — Risk / Return Rank
IAUM
SPMO
IAUM vs. SPMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust Micro (IAUM) 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.
| IAUM | SPMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.21 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.88 | 1.63 | -0.75 |
| Martin ratioReturn relative to average drawdown | 1.90 | 5.93 | -4.03 |
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Drawdowns
IAUM vs. SPMO - Drawdown Comparison
The maximum IAUM drawdown since its inception was -26.31%, smaller than the maximum SPMO drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for IAUM and SPMO.
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Drawdown Indicators
| IAUM | SPMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.31% | -30.95% | +4.64% |
Max Drawdown (1Y)Largest decline over 1 year | -26.31% | -15.64% | -10.67% |
Max Drawdown (3Y)Largest decline over 3 years | -26.31% | -20.13% | -6.18% |
Max Drawdown (5Y)Largest decline over 5 years | -26.31% | -22.74% | -3.57% |
Max Drawdown (10Y)Largest decline over 10 years | — | -30.95% | — |
Current DrawdownCurrent decline from peak | -24.95% | -11.03% | -13.92% |
Average DrawdownAverage peak-to-trough decline | -5.87% | -4.62% | -1.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.14% | 4.29% | +7.85% |
Volatility
IAUM vs. SPMO - Volatility Comparison
The current volatility for iShares Gold Trust Micro (IAUM) is 6.29%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 10.53%. This indicates that IAUM 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
| IAUM | SPMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.29% | 10.53% | -4.24% |
Volatility (6M)Calculated over the trailing 6-month period | 23.21% | 21.52% | +1.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.81% | 23.90% | +3.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.33% | 20.60% | -2.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.19% | 20.92% | -2.73% |
IAUM vs. SPMO - Expense Ratio Comparison
IAUM has a 0.09% expense ratio, which is lower than SPMO's 0.13% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IAUM vs. SPMO - Dividend Comparison
IAUM has not paid dividends to shareholders, while SPMO's dividend yield for the trailing twelve months is around 0.73%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAUM iShares Gold Trust Micro | 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 | 0.73% | 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
IAUM and SPMO have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPMO has higher volatility (10.53%) compared to IAUM (6.29%). In terms of maximum drawdown, IAUM dropped -26.31% vs SPMO's -30.95%.
On 5-year performance, SPMO leads with 20.21% vs 17.35% for IAUM. On fees, IAUM is cheaper at 0.09% per year. On volatility, IAUM has been the lower-risk option at 6.29%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SPMO has performed better with a 20.21% return vs 17.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IAUM is cheaper with a 0.09% expense ratio, compared with 0.13% for SPMO.
SPMO has the higher dividend yield at 0.73%, compared with 0.00% for IAUM.
IAUM is categorized as Gold, while SPMO is Momentum. IAUM tracks LBMA Gold Price PM, while SPMO tracks S&P 500 Momentum Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.09% for IAUM and 0.13% for SPMO.
SPMO currently has the higher Sharpe Ratio (1.07 vs 0.83), 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.
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