IGM vs. SPMO

Last updated Jun 24, 2026

IGM (iShares Expanded Tech Sector ETF) and SPMO (Invesco S&P 500 Momentum ETF) are both exchange-traded funds - IGM is a Technology Equities fund tracking the S&P North American Expanded Technology Sector Index, while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. Both are passively managed. Over the past 10 years, IGM returned 24.86%/yr vs 21.03%/yr for SPMO. A 0.77 correlation means they provide meaningful diversification when combined. IGM charges 0.39%/yr vs 0.13%/yr for SPMO.

Performance

IGM vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Expanded Tech Sector ETF (IGM) 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, IGM achieves a 22.65% return, which is significantly lower than SPMO's 29.91% return. Over the past 10 years, IGM has outperformed SPMO with an annualized return of 24.86%, while SPMO has yielded a comparatively lower 21.03% annualized return.

IGM

• 1D: -3.56%
• 1M: 0.74%
• YTD: 22.65%
• 6M: 21.02%
• 1Y: 47.83%
• 3Y*: 35.67%
• 5Y*: 19.25%
• 10Y*: 24.86%

SPMO

• 1D: -4.53%
• 1M: 6.65%
• YTD: 29.91%
• 6M: 28.13%
• 1Y: 43.55%
• 3Y*: 42.47%
• 5Y*: 22.89%
• 10Y*: 21.03%

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

IGM vs. SPMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IGM iShares Expanded Tech Sector ETF	22.65%	26.76%	36.99%	60.68%	-35.83%	25.72%	45.11%	41.81%	2.26%	37.20%
SPMO Invesco S&P 500 Momentum ETF	29.91%	26.58%	45.82%	17.56%	-10.45%	22.64%	28.25%	25.93%	-0.92%	27.76%

Correlation

The correlation between IGM and SPMO is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Oct 12, 2015	0.77

The correlation between IGM and SPMO has been stable across timeframes, ranging from 0.77 to 0.86 - a consistent structural relationship.

IGM vs. SPMO - Sectors Allocation Comparison

Sectors	IGM	SPMO
Technology	84.5%	56.8%
Communication Services	14.4%	8.0%
Industrials	0.3%	10.9%
Financial Services	0.3%	5.8%
Energy	0.2%	2.8%
Consumer Cyclical	0.0%	1.1%
Basic Materials	0.0%	1.5%
Consumer Defensive	-	3.8%
Healthcare	-	5.9%
Real Estate	-	0.9%
Utilities	-	2.6%

Return for Risk

IGM vs. SPMO — Risk / Return Rank

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

IGM

IGM Risk / Return Rank: 61
IGM Sharpe Ratio Rank: 68
IGM Sortino Ratio Rank: 59
IGM Omega Ratio Rank: 60
IGM Calmar Ratio Rank: 61
IGM Martin Ratio Rank: 57

SPMO

SPMO Risk / Return Rank: 68
SPMO Sharpe Ratio Rank: 68
SPMO Sortino Ratio Rank: 62
SPMO Omega Ratio Rank: 69
SPMO Calmar Ratio Rank: 71
SPMO Martin Ratio Rank: 71

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.

IGM vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Expanded Tech Sector ETF (IGM) 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.

	IGM	SPMO	Difference
Sharpe ratio: Return per unit of total volatility	2.11	2.13	-0.02
Sortino ratio: Return per unit of downside risk	2.67	2.81	-0.14
Omega ratio: Gain probability vs. loss probability	1.36	1.39	-0.04
Calmar ratio: Return relative to maximum drawdown	2.92	3.45	-0.52
Martin ratio: Return relative to average drawdown	9.77	12.97	-3.20

IGM vs. SPMO - Sharpe Ratio Comparison

The current IGM Sharpe Ratio is 2.11, which is comparable to the SPMO Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of IGM 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.

Drawdowns

IGM vs. SPMO - Drawdown Comparison

The maximum IGM drawdown since its inception was -65.59%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for IGM and SPMO.

Drawdown Indicators

	IGM	SPMO	Difference
Max Drawdown Largest peak-to-trough decline	-65.59%	-30.95%	-34.64%
Max Drawdown (1Y) Largest decline over 1 year	-16.44%	-12.70%	-3.74%
Max Drawdown (3Y) Largest decline over 3 years	-26.39%	-20.13%	-6.26%
Max Drawdown (5Y) Largest decline over 5 years	-40.68%	-22.74%	-17.94%
Max Drawdown (10Y) Largest decline over 10 years	-40.68%	-30.95%	-9.73%
Current Drawdown Current decline from peak	-7.39%	-4.53%	-2.86%
Average Drawdown Average peak-to-trough decline	-15.21%	-4.59%	-10.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.91%	3.37%	+1.54%

Volatility

IGM vs. SPMO - Volatility Comparison

iShares Expanded Tech Sector ETF (IGM) and Invesco S&P 500 Momentum ETF (SPMO) have volatilities of 11.53% and 11.75%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IGM	SPMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.53%	11.75%	-0.22%
Volatility (6M) Calculated over the trailing 6-month period	18.67%	17.78%	+0.89%
Volatility (1Y) Calculated over the trailing 1-year period	22.76%	20.55%	+2.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.07%	19.88%	+6.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.71%	20.60%	+4.11%

IGM vs. SPMO - Expense Ratio Comparison

IGM has a 0.39% expense ratio, which is higher than SPMO's 0.13% expense ratio.

Dividends

IGM vs. SPMO - Dividend Comparison

IGM's dividend yield for the trailing twelve months is around 0.14%, less than SPMO's 0.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IGM iShares Expanded Tech Sector ETF	0.14%	0.17%	0.22%	0.33%	0.66%	0.16%	0.32%	0.50%	0.57%	0.57%	0.90%	0.79%
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 IGM and SPMO in my portfolio?

IGM and SPMO have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IGM or SPMO?

SPMO has higher volatility (11.75%) compared to IGM (11.53%). In terms of maximum drawdown, IGM dropped -65.59% vs SPMO's -30.95%.

Which ETF is better, IGM or SPMO?

On 10-year performance, IGM leads with 24.86% vs 21.03% for SPMO. On fees, SPMO is cheaper at 0.13% per year. On volatility, IGM has been the lower-risk option at 11.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IGM or SPMO?

Over the 10-year period, IGM has performed better with a 24.86% return vs 21.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IGM or SPMO?

SPMO is cheaper with a 0.13% expense ratio, compared with 0.39% for IGM.

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

SPMO has the higher dividend yield at 0.68%, compared with 0.14% for IGM.

What is the main difference between IGM and SPMO?

IGM is categorized as Technology Equities, while SPMO is Momentum. IGM tracks S&P North American Expanded Technology Sector Index, while SPMO tracks S&P 500 Momentum Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.39% for IGM and 0.13% for SPMO.

Which has better risk-adjusted returns?

SPMO currently has the higher Sharpe Ratio (2.13 vs 2.11), 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.