IDMO vs. SPEM

Last updated Jun 14, 2026

IDMO (Invesco S&P International Developed Momentum ETF) and SPEM (SPDR Portfolio Emerging Markets ETF) are both exchange-traded funds - IDMO is a Momentum fund tracking the S&P Momentum Developed ex U.S. & South Korea LargeMidCap Index, while SPEM is a Emerging Markets Equities fund tracking the S&P Emerging Markets BMI. Both are passively managed. Over the past 10 years, IDMO returned 12.64%/yr vs 9.63%/yr for SPEM. At a 0.50 correlation, their price movements are largely independent. IDMO charges 0.25%/yr vs 0.11%/yr for SPEM.

Performance

IDMO vs. SPEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P International Developed Momentum ETF (IDMO) and SPDR Portfolio Emerging Markets ETF (SPEM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IDMO achieves a 8.17% return, which is significantly lower than SPEM's 11.32% return. Over the past 10 years, IDMO has outperformed SPEM with an annualized return of 12.64%, while SPEM has yielded a comparatively lower 9.63% annualized return.

IDMO

• 1D: 1.36%
• 1M: 1.48%
• YTD: 8.17%
• 6M: 10.09%
• 1Y: 24.72%
• 3Y*: 25.21%
• 5Y*: 15.50%
• 10Y*: 12.64%

SPEM

• 1D: 0.87%
• 1M: 2.50%
• YTD: 11.32%
• 6M: 13.11%
• 1Y: 27.73%
• 3Y*: 17.37%
• 5Y*: 5.60%
• 10Y*: 9.63%

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

IDMO vs. SPEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IDMO Invesco S&P International Developed Momentum ETF	8.17%	42.17%	12.79%	20.16%	-12.03%	14.31%	22.01%	26.09%	-16.66%	29.21%
SPEM SPDR Portfolio Emerging Markets ETF	11.32%	25.63%	11.40%	10.51%	-17.90%	1.51%	14.55%	19.69%	-13.26%	34.82%

Correlation

The correlation between IDMO and SPEM is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.58
Correlation (All Time) Calculated using the full available price history since Feb 24, 2012	0.50

Over the past year, IDMO and SPEM have become more correlated (0.76) than their long-term average of 0.50, meaning their price movements have been converging.

IDMO vs. SPEM - Sectors Allocation Comparison

Sectors	IDMO	SPEM
Financial Services	43.2%	19.2%
Industrials	21.3%	8.3%
Basic Materials	10.6%	8.0%
Utilities	7.9%	2.8%
Technology	6.2%	32.1%
Consumer Defensive	2.5%	3.6%
Communication Services	2.1%	6.7%
Real Estate	1.8%	1.8%
Energy	1.7%	4.2%
Consumer Cyclical	1.5%	9.6%
Healthcare	1.1%	3.7%

Return for Risk

IDMO vs. SPEM — Risk / Return Rank

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

IDMO

IDMO Risk / Return Rank: 44
IDMO Sharpe Ratio Rank: 42
IDMO Sortino Ratio Rank: 43
IDMO Omega Ratio Rank: 42
IDMO Calmar Ratio Rank: 43
IDMO Martin Ratio Rank: 51

SPEM

SPEM Risk / Return Rank: 52
SPEM Sharpe Ratio Rank: 52
SPEM Sortino Ratio Rank: 49
SPEM Omega Ratio Rank: 53
SPEM Calmar Ratio Rank: 52
SPEM Martin Ratio Rank: 54

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.

IDMO vs. SPEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P International Developed Momentum ETF (IDMO) and SPDR Portfolio Emerging Markets ETF (SPEM). 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.

	IDMO	SPEM	Difference
Sharpe ratio: Return per unit of total volatility	1.30	1.55	-0.26
Sortino ratio: Return per unit of downside risk	1.93	2.16	-0.23
Omega ratio: Gain probability vs. loss probability	1.24	1.29	-0.05
Calmar ratio: Return relative to maximum drawdown	1.89	2.28	-0.39
Martin ratio: Return relative to average drawdown	7.64	8.16	-0.52

IDMO vs. SPEM - Sharpe Ratio Comparison

The current IDMO Sharpe Ratio is 1.30, which is comparable to the SPEM Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of IDMO and SPEM, 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

IDMO vs. SPEM - Drawdown Comparison

The maximum IDMO drawdown since its inception was -39.38%, smaller than the maximum SPEM drawdown of -64.41%. Use the drawdown chart below to compare losses from any high point for IDMO and SPEM.

Drawdown Indicators

	IDMO	SPEM	Difference
Max Drawdown Largest peak-to-trough decline	-39.38%	-64.41%	+25.03%
Max Drawdown (1Y) Largest decline over 1 year	-12.31%	-11.36%	-0.95%
Max Drawdown (3Y) Largest decline over 3 years	-12.65%	-17.62%	+4.97%
Max Drawdown (5Y) Largest decline over 5 years	-27.07%	-31.75%	+4.68%
Max Drawdown (10Y) Largest decline over 10 years	-31.34%	-36.06%	+4.72%
Current Drawdown Current decline from peak	-1.92%	-2.40%	+0.48%
Average Drawdown Average peak-to-trough decline	-9.74%	-14.73%	+4.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.04%	3.17%	-0.13%

Volatility

IDMO vs. SPEM - Volatility Comparison

Invesco S&P International Developed Momentum ETF (IDMO) has a higher volatility of 7.92% compared to SPDR Portfolio Emerging Markets ETF (SPEM) at 6.87%. This indicates that IDMO's price experiences larger fluctuations and is considered to be riskier than SPEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IDMO	SPEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.92%	6.87%	+1.05%
Volatility (6M) Calculated over the trailing 6-month period	16.02%	14.21%	+1.81%
Volatility (1Y) Calculated over the trailing 1-year period	17.92%	16.67%	+1.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.03%	17.26%	+0.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.18%	18.83%	-0.65%

IDMO vs. SPEM - Expense Ratio Comparison

IDMO has a 0.25% expense ratio, which is higher than SPEM's 0.11% 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

IDMO vs. SPEM - Dividend Comparison

IDMO's dividend yield for the trailing twelve months is around 3.52%, more than SPEM's 2.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IDMO Invesco S&P International Developed Momentum ETF	3.52%	3.71%	2.24%	2.89%	3.66%	1.81%	1.63%	2.78%	3.27%	3.08%	2.18%	2.52%
SPEM SPDR Portfolio Emerging Markets ETF	2.49%	2.77%	2.78%	2.80%	3.38%	3.14%	1.92%	2.94%	2.34%	1.12%	1.51%	2.40%

Frequently Asked Questions

Can I hold both IDMO and SPEM in my portfolio?

IDMO and SPEM have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IDMO or SPEM?

IDMO has higher volatility (7.92%) compared to SPEM (6.87%). In terms of maximum drawdown, IDMO dropped -39.38% vs SPEM's -64.41%.

Which ETF is better, IDMO or SPEM?

On 10-year performance, IDMO leads with 12.64% vs 9.63% for SPEM. On fees, SPEM is cheaper at 0.11% per year. On volatility, SPEM has been the lower-risk option at 6.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IDMO or SPEM?

Over the 10-year period, IDMO has performed better with a 12.64% return vs 9.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IDMO or SPEM?

SPEM is cheaper with a 0.11% expense ratio, compared with 0.25% for IDMO.

Which ETF pays a higher dividend yield, IDMO or SPEM?

IDMO has the higher dividend yield at 3.52%, compared with 2.49% for SPEM.

What is the main difference between IDMO and SPEM?

IDMO is categorized as Momentum, while SPEM is Emerging Markets Equities. IDMO tracks S&P Momentum Developed ex U.S. & South Korea LargeMidCap Index, while SPEM tracks S&P Emerging Markets BMI. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.25% for IDMO and 0.11% for SPEM.

Which has better risk-adjusted returns?

SPEM currently has the higher Sharpe Ratio (1.55 vs 1.30), 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.