IDMO vs. SPY

Last updated Jul 21, 2026

IDMO (Invesco S&P International Developed Momentum ETF) and SPY (State Street SPDR S&P 500 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 SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, IDMO returned 12.15%/yr vs 14.90%/yr for SPY. A 0.53 correlation means they provide meaningful diversification when combined. IDMO charges 0.25%/yr vs 0.09%/yr for SPY.

Performance

IDMO vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P International Developed Momentum ETF (IDMO) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IDMO achieves a 6.72% return, which is significantly lower than SPY's 9.40% return. Over the past 10 years, IDMO has underperformed SPY with an annualized return of 12.15%, while SPY has yielded a comparatively higher 14.90% annualized return.

IDMO

• 1D: -0.78%
• 1M: -4.04%
• 6M: 3.61%
• YTD: 6.72%
• 1Y: 19.40%
• 3Y*: 23.73%
• 5Y*: 14.74%
• 10Y*: 12.15%
• ALL TIME*: 8.80%

SPY

• 1D: -0.16%
• 1M: -0.62%
• 6M: 7.86%
• YTD: 9.40%
• 1Y: 19.56%
• 3Y*: 19.43%
• 5Y*: 12.81%
• 10Y*: 14.90%
• ALL TIME*: 10.78%

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

IDMO vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IDMO Invesco S&P International Developed Momentum ETF	6.72%	42.17%	12.79%	20.16%	-12.03%	14.31%	22.01%	26.09%	-16.66%	29.21%
SPY State Street SPDR S&P 500 ETF	9.40%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Correlation

The correlation between IDMO and SPY is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.62
Correlation (All Time) Calculated using the full available price history since Feb 24, 2012	0.53

Over the past year, IDMO and SPY have become more correlated (0.74) than their long-term average of 0.53, meaning their price movements have been converging.

IDMO vs. SPY - Sectors Allocation Comparison

Sectors	IDMO	SPY
Financial Services	12.1%	11.9%
Basic Materials	4.6%	1.8%
Industrials	1.0%	7.7%
Energy	0.6%	3.1%
Technology	0.5%	38.2%
Healthcare	0.5%	8.9%
Consumer Defensive	0.4%	4.5%
Real Estate	0.3%	1.8%
Utilities	0.2%	2.6%
Communication Services	0.1%	9.9%
Consumer Cyclical	0.0%	9.3%

Return for Risk

IDMO vs. SPY — Risk / Return Rank

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

IDMO

IDMO Risk / Return Rank: 41
IDMO Sharpe Ratio Rank: 38
IDMO Sortino Ratio Rank: 39
IDMO Omega Ratio Rank: 38
IDMO Calmar Ratio Rank: 40
IDMO Martin Ratio Rank: 49

SPY

SPY Risk / Return Rank: 63
SPY Sharpe Ratio Rank: 63
SPY Sortino Ratio Rank: 61
SPY Omega Ratio Rank: 62
SPY Calmar Ratio Rank: 59
SPY Martin Ratio Rank: 72

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. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P International Developed Momentum ETF (IDMO) and State Street SPDR S&P 500 ETF (SPY). 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	SPY	Difference
Sharpe ratio: Return per unit of total volatility	1.05	1.56	-0.51
Sortino ratio: Return per unit of downside risk	1.58	2.17	-0.58
Omega ratio: Gain probability vs. loss probability	1.20	1.28	-0.08
Calmar ratio: Return relative to maximum drawdown	1.58	2.21	-0.63
Martin ratio: Return relative to average drawdown	6.15	9.59	-3.44

IDMO vs. SPY - Sharpe Ratio Comparison

The current IDMO Sharpe Ratio is 1.05, which is lower than the SPY Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of IDMO and SPY, 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. SPY - Drawdown Comparison

The maximum IDMO drawdown since its inception was -39.38%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for IDMO and SPY.

Drawdown Indicators

	IDMO	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-39.38%	-55.19%	+15.81%
Max Drawdown (1Y) Largest decline over 1 year	-12.31%	-8.88%	-3.43%
Max Drawdown (3Y) Largest decline over 3 years	-12.65%	-18.76%	+6.11%
Max Drawdown (5Y) Largest decline over 5 years	-27.07%	-24.50%	-2.57%
Max Drawdown (10Y) Largest decline over 10 years	-31.34%	-33.72%	+2.38%
Current Drawdown Current decline from peak	-5.31%	-2.05%	-3.26%
Average Drawdown Average peak-to-trough decline	-9.69%	-9.02%	-0.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.16%	2.04%	+1.12%

Volatility

IDMO vs. SPY - Volatility Comparison

Invesco S&P International Developed Momentum ETF (IDMO) has a higher volatility of 5.93% compared to State Street SPDR S&P 500 ETF (SPY) at 3.45%. This indicates that IDMO's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IDMO	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.93%	3.45%	+2.48%
Volatility (6M) Calculated over the trailing 6-month period	16.90%	10.06%	+6.84%
Volatility (1Y) Calculated over the trailing 1-year period	18.58%	12.64%	+5.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.13%	17.15%	+0.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.89%	17.94%	-0.05%

IDMO vs. SPY - Expense Ratio Comparison

IDMO has a 0.25% expense ratio, which is higher than SPY's 0.09% 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. SPY - Dividend Comparison

IDMO's dividend yield for the trailing twelve months is around 3.75%, more than SPY's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IDMO Invesco S&P International Developed Momentum ETF	3.75%	3.71%	2.24%	2.89%	3.66%	1.81%	1.63%	2.78%	3.27%	3.08%	2.18%	2.52%
SPY State Street SPDR S&P 500 ETF	1.01%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Frequently Asked Questions

Can I hold both IDMO and SPY in my portfolio?

IDMO and SPY have a correlation of 0.74, 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 SPY?

IDMO has higher volatility (5.93%) compared to SPY (3.45%). In terms of maximum drawdown, IDMO dropped -39.38% vs SPY's -55.19%.

Which ETF is better, IDMO or SPY?

On 10-year performance, SPY leads with 14.90% vs 12.15% for IDMO. On fees, SPY is cheaper at 0.09% per year. On volatility, SPY has been the lower-risk option at 3.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IDMO or SPY?

Over the 10-year period, SPY has performed better with a 14.90% return vs 12.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IDMO or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.25% for IDMO.

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

IDMO has the higher dividend yield at 3.75%, compared with 1.01% for SPY.

What is the main difference between IDMO and SPY?

IDMO is categorized as Momentum, while SPY is S&P 500. IDMO tracks S&P Momentum Developed ex U.S. & South Korea LargeMidCap Index, while SPY tracks S&P 500 Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.25% for IDMO and 0.09% for SPY.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (1.56 vs 1.05), 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.