IHI vs. SPMO
Compare and contrast key facts about iShares U.S. Medical Devices ETF (IHI) and Invesco S&P 500® Momentum ETF (SPMO).
IHI and SPMO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IHI is a passively managed fund by iShares that tracks the performance of the Dow Jones U.S. Select Medical Equipment Index. It was launched on May 5, 2006. SPMO is a passively managed fund by Invesco that tracks the performance of the S&P 500 Momentum Index. It was launched on Oct 9, 2015. Both IHI and SPMO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: IHI or SPMO.
Key characteristics
| IHI | SPMO | |
|---|---|---|
| YTD Return | 3.69% | 21.04% |
| 1Y Return | 0.34% | 45.18% |
| 3Y Return (Ann) | -0.77% | 14.15% |
| 5Y Return (Ann) | 8.96% | 16.87% |
| Sharpe Ratio | 0.01 | 3.33 |
| Daily Std Dev | 15.83% | 14.25% |
| Max Drawdown | -49.64% | -30.95% |
| Current Drawdown | -15.67% | -2.08% |
Correlation
The correlation between IHI and SPMO is 0.62, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
IHI vs. SPMO - Performance Comparison
In the year-to-date period, IHI achieves a 3.69% return, which is significantly lower than SPMO's 21.04% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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IHI vs. SPMO - Expense Ratio Comparison
IHI has a 0.43% expense ratio, which is higher than SPMO's 0.13% expense ratio.
Risk-Adjusted Performance
IHI vs. SPMO - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Medical Devices ETF (IHI) 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.
Dividends
IHI vs. SPMO - Dividend Comparison
IHI's dividend yield for the trailing twelve months is around 0.53%, less than SPMO's 1.07% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IHI iShares U.S. Medical Devices ETF | 0.53% | 0.53% | 0.45% | 0.25% | 0.25% | 0.33% | 0.26% | 0.37% | 0.55% | 1.28% | 0.65% | 0.33% |
SPMO Invesco S&P 500® Momentum ETF | 1.07% | 1.63% | 1.66% | 0.52% | 1.27% | 1.39% | 1.05% | 0.77% | 1.94% | 0.36% | 0.00% | 0.00% |
Drawdowns
IHI vs. SPMO - Drawdown Comparison
The maximum IHI drawdown since its inception was -49.64%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for IHI and SPMO. For additional features, visit the drawdowns tool.
Volatility
IHI vs. SPMO - Volatility Comparison
The current volatility for iShares U.S. Medical Devices ETF (IHI) is 4.08%, while Invesco S&P 500® Momentum ETF (SPMO) has a volatility of 5.88%. This indicates that IHI 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.