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IIGD vs. SPMO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IIGD vs. SPMO

Last updated Jun 4, 2026

IIGD (Invesco Investment Grade Defensive ETF) and SPMO (Invesco S&P 500 Momentum ETF) are both exchange-traded funds - IIGD is a Corporate Bonds fund tracking the Invesco Investment Grade Defensive Index, while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. Both are passively managed. Over the past 5 years, IIGD returned 1.63%/yr vs 24.29%/yr for SPMO. At a 0.14 correlation, their price movements are largely independent. Both charge a 0.13% expense ratio.

Performance

IIGD vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Investment Grade Defensive ETF (IIGD) and Invesco S&P 500 Momentum ETF (SPMO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IIGD achieves a 0.25% return, which is significantly lower than SPMO's 30.35% return.

IIGD

1D
-0.10%
1M
0.05%
YTD
0.25%
6M
0.49%
1Y
4.13%
3Y*
5.07%
5Y*
1.63%
10Y*
—

SPMO

1D
0.50%
1M
15.36%
YTD
30.35%
6M
30.51%
1Y
46.00%
3Y*
43.04%
5Y*
24.29%
10Y*
20.95%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IIGD vs. SPMO - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
IIGD
Invesco Investment Grade Defensive ETF		0.25%7.11%3.90%5.71%-7.27%-1.42%6.30%7.40%0.86%
SPMO
Invesco S&P 500 Momentum ETF		30.35%26.58%45.82%17.56%-10.45%22.64%28.25%25.93%-13.90%

Correlation

The correlation between IIGD and SPMO is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.21

Correlation (3Y)
Calculated over the trailing 3-year period

0.14

Correlation (5Y)
Calculated over the trailing 5-year period

0.15

Correlation (All Time)
Calculated using the full available price history since Sep 10, 2018

0.14

IIGD vs. SPMO - Sectors Allocation Comparison

Sectors
IIGD
SPMO

Financial Services

16.7%
5.9%

Industrials

11.6%
11.3%

Technology

8.7%
52.6%

Consumer Defensive

5.6%
4.3%

Healthcare

5.5%
6.7%

Energy

5.5%
3.4%

Consumer Cyclical

3.0%
1.3%

Real Estate

3.0%
1.0%

Communication Services

2.4%
9.2%

Basic Materials

1.8%
1.6%

Utilities

1.3%
2.8%

Financial Services

IIGD
16.7%
SPMO
5.9%

Industrials

IIGD
11.6%
SPMO
11.3%

Technology

IIGD
8.7%
SPMO
52.6%

Consumer Defensive

IIGD
5.6%
SPMO
4.3%

Healthcare

IIGD
5.5%
SPMO
6.7%

Energy

IIGD
5.5%
SPMO
3.4%

Consumer Cyclical

IIGD
3.0%
SPMO
1.3%

Real Estate

IIGD
3.0%
SPMO
1.0%

Communication Services

IIGD
2.4%
SPMO
9.2%

Basic Materials

IIGD
1.8%
SPMO
1.6%

Utilities

IIGD
1.3%
SPMO
2.8%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco Investment Grade Defensive ETF

Invesco S&P 500 Momentum ETF

Often compared with IIGD:
IIGD vs. GSIGIIGD vs. ISDBIIGD vs. PGHYIIGD vs. SGOVIIGD vs. VCSHIIGD vs. IVVIIGD vs. XLF
Often compared with SPMO:
SPMO vs. VOOSPMO vs. QQQSPMO vs. SCHGSPMO vs. MTUMSPMO vs. VUGSPMO vs. VFMOSPMO vs. XMMO

Return for Risk

IIGD vs. SPMO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IIGD
IIGD Risk / Return Rank: 5454
Overall Rank
IIGD Sharpe Ratio Rank: 5353
Sharpe Ratio Rank
IIGD Sortino Ratio Rank: 5858
Sortino Ratio Rank
IIGD Omega Ratio Rank: 5555
Omega Ratio Rank
IIGD Calmar Ratio Rank: 5050
Calmar Ratio Rank
IIGD Martin Ratio Rank: 5151
Martin Ratio Rank
SPMO
SPMO Risk / Return Rank: 7575
Overall Rank
SPMO Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
SPMO Sortino Ratio Rank: 7777
Sortino Ratio Rank
SPMO Omega Ratio Rank: 7777
Omega Ratio Rank
SPMO Calmar Ratio Rank: 7171
Calmar Ratio Rank
SPMO Martin Ratio Rank: 7373
Martin Ratio Rank
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.

IIGD vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Investment Grade Defensive ETF (IIGD) 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.

IIGDSPMODifference
Sharpe ratioReturn per unit of total volatility
1.81
2.62

-0.81

Sortino ratioReturn per unit of downside risk
2.75
3.54

-0.79

Omega ratioGain probability vs. loss probability

1.34

1.47

-0.13

Calmar ratioReturn relative to maximum drawdown

2.49

3.64

-1.15

Martin ratioReturn relative to average drawdown

8.72

14.17

-5.44

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IIGD vs. SPMO - Sharpe Ratio Comparison

The current IIGD Sharpe Ratio is 1.81, which is lower than the SPMO Sharpe Ratio of 2.62. The chart below compares the historical Sharpe Ratios of IIGD 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.

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Sharpe Ratios by Period

IIGDSPMODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.81

2.62

-0.81

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.45

1.27

-0.82

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

1.03

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.77

1.01

-0.24

Drawdowns

IIGD vs. SPMO - Drawdown Comparison

The maximum IIGD drawdown since its inception was -11.43%, smaller than the maximum SPMO drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for IIGD and SPMO.

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Drawdown Indicators

IIGDSPMODifference

Max Drawdown

Largest peak-to-trough decline

-11.43%

-30.95%

+19.52%

Max Drawdown (1Y)

Largest decline over 1 year

-1.67%

-12.70%

+11.03%

Max Drawdown (3Y)

Largest decline over 3 years

-2.14%

-20.13%

+17.99%

Max Drawdown (5Y)

Largest decline over 5 years

-11.43%

-22.74%

+11.31%

Max Drawdown (10Y)

Largest decline over 10 years

—

-30.95%

—

Current Drawdown

Current decline from peak

-0.80%

0.00%

-0.80%

Average Drawdown

Average peak-to-trough decline

-2.42%

-4.60%

+2.18%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.47%

3.26%

-2.79%

Volatility

IIGD vs. SPMO - Volatility Comparison

The current volatility for Invesco Investment Grade Defensive ETF (IIGD) is 0.75%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 7.35%. This indicates that IIGD 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

IIGDSPMODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.75%

7.35%

-6.60%

Volatility (6M)

Calculated over the trailing 6-month period

1.65%

14.39%

-12.74%

Volatility (1Y)

Calculated over the trailing 1-year period

2.29%

17.64%

-15.35%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

3.66%

19.30%

-15.64%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

3.70%

20.31%

-16.61%

IIGD vs. SPMO - Expense Ratio Comparison

Both IIGD and SPMO have an expense ratio of 0.13%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

IIGD vs. SPMO - Dividend Comparison

IIGD's dividend yield for the trailing twelve months is around 4.28%, more than SPMO's 0.65% yield.

PositionTTM20252024202320222021202020192018201720162015
IIGD
Invesco Investment Grade Defensive ETF		4.28%4.25%4.13%3.74%1.73%1.77%3.21%2.44%1.23%0.00%0.00%0.00%
SPMO
Invesco S&P 500 Momentum ETF		0.65%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

IIGD and SPMO have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SPMO has higher volatility (7.35%) compared to IIGD (0.75%). In terms of maximum drawdown, IIGD dropped -11.43% vs SPMO's -30.95%.

On 5-year performance, SPMO leads with 24.29% vs 1.63% for IIGD. Both ETFs have the same 0.13% expense ratio. On volatility, IIGD has been the lower-risk option at 0.75%. 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 24.29% return vs 1.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IIGD and SPMO have the same expense ratio: 0.13% per year.

IIGD has the higher dividend yield at 4.28%, compared with 0.65% for SPMO.

IIGD is categorized as Corporate Bonds, while SPMO is Momentum. IIGD tracks Invesco Investment Grade Defensive Index, while SPMO tracks S&P 500 Momentum Index.

SPMO currently has the higher Sharpe Ratio (2.62 vs 1.81), 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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