IIGD vs. SPMO
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 1.73%/yr vs 23.75%/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
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Returns By Period
In the year-to-date period, IIGD achieves a 0.56% return, which is significantly lower than SPMO's 34.38% return.
IIGD
- 1D
- 0.08%
- 1M
- 0.35%
- YTD
- 0.56%
- 6M
- 0.68%
- 1Y
- 3.69%
- 3Y*
- 5.20%
- 5Y*
- 1.73%
- 10Y*
- —
SPMO
- 1D
- 3.80%
- 1M
- 6.73%
- YTD
- 34.38%
- 6M
- 32.02%
- 1Y
- 46.41%
- 3Y*
- 43.94%
- 5Y*
- 23.75%
- 10Y*
- 21.44%
IIGD vs. SPMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IIGD Invesco Investment Grade Defensive ETF | 0.56% | 7.11% | 3.90% | 5.71% | -7.27% | -1.42% | 6.30% | 7.40% | 0.86% |
SPMO Invesco S&P 500 Momentum ETF | 34.38% | 26.58% | 45.82% | 17.56% | -10.45% | 22.64% | 28.25% | 25.93% | -14.27% |
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 7, 2018 | 0.14 |
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Return for Risk
IIGD vs. SPMO — Risk / Return Rank
IIGD
SPMO
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.
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.
| IIGD | SPMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.65 | ||
| Sortino ratioReturn per unit of downside risk | -0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.41 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.22 | 3.67 | -1.45 |
| Martin ratioReturn relative to average drawdown | 7.24 | 13.76 | -6.52 |
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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
| IIGD | SPMO | Difference | |
|---|---|---|---|
Max DrawdownLargest 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 DrawdownCurrent decline from peak | -0.49% | -1.25% | +0.76% |
Average DrawdownAverage peak-to-trough decline | -2.40% | -4.59% | +2.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.51% | 3.38% | -2.87% |
Volatility
IIGD vs. SPMO - Volatility Comparison
The current volatility for Invesco Investment Grade Defensive ETF (IIGD) is 0.83%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 11.90%. 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
| IIGD | SPMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.83% | 11.90% | -11.07% |
Volatility (6M)Calculated over the trailing 6-month period | 1.78% | 18.07% | -16.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.33% | 20.80% | -18.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.67% | 19.94% | -16.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.69% | 20.63% | -16.94% |
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 4.25%, more than SPMO's 0.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IIGD Invesco Investment Grade Defensive ETF | 4.25% | 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 | 0.66% | 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 (11.90%) compared to IIGD (0.83%). In terms of maximum drawdown, IIGD dropped -11.43% vs SPMO's -30.95%.
On 5-year performance, SPMO leads with 23.75% vs 1.73% for IIGD. Both ETFs have the same 0.13% expense ratio. On volatility, IIGD has been the lower-risk option at 0.83%. 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 23.75% return vs 1.73%. 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 4.25%, compared with 0.66% 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 (2.24 vs 1.59), 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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