IMTG vs. SPMO

Last updated Jun 26, 2026

IMTG (Invesco Agency MBS ETF) and SPMO (Invesco S&P 500 Momentum ETF) are both exchange-traded funds - IMTG is a Mortgage Backed Securities fund actively managed by Invesco, while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. IMTG is actively managed, while SPMO is passively managed. At a 0.46 correlation, their price movements are largely independent. IMTG charges 0.22%/yr vs 0.13%/yr for SPMO.

Performance

IMTG vs. SPMO - Performance Comparison

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

Returns By Period

IMTG

• 1D: 0.10%
• 1M: 0.91%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 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%

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

IMTG vs. SPMO - Yearly Performance Comparison

	2026 (YTD)
IMTG Invesco Agency MBS ETF	-0.35%
SPMO Invesco S&P 500 Momentum ETF	35.02%

Correlation

The correlation between IMTG and SPMO is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 25, 2026	0.46

Return for Risk

IMTG vs. SPMO — Risk / Return Rank

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

IMTG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

SPMO

SPMO Risk / Return Rank: 80
SPMO Sharpe Ratio Rank: 81
SPMO Sortino Ratio Rank: 77
SPMO Omega Ratio Rank: 80
SPMO Calmar Ratio Rank: 80
SPMO Martin Ratio Rank: 81

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.

IMTG vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Agency MBS ETF (IMTG) 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.

	IMTG	SPMO	Difference
Sharpe ratio: Return per unit of total volatility	—	2.24	—
Sortino ratio: Return per unit of downside risk	—	2.96	—
Omega ratio: Gain probability vs. loss probability	—	1.41	—
Calmar ratio: Return relative to maximum drawdown	—	3.67	—
Martin ratio: Return relative to average drawdown	—	13.76	—

Drawdowns

IMTG vs. SPMO - Drawdown Comparison

The maximum IMTG drawdown since its inception was -2.85%, smaller than the maximum SPMO drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for IMTG and SPMO.

Drawdown Indicators

	IMTG	SPMO	Difference
Max Drawdown Largest peak-to-trough decline	-2.85%	-30.95%	+28.10%
Max Drawdown (1Y) Largest decline over 1 year	—	-12.70%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-20.13%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-22.74%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-30.95%	—
Current Drawdown Current decline from peak	-0.74%	-1.25%	+0.51%
Average Drawdown Average peak-to-trough decline	-1.38%	-4.59%	+3.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.38%	—

Volatility

Volatility by Period

	IMTG	SPMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.90%	—
Volatility (6M) Calculated over the trailing 6-month period	—	18.07%	—
Volatility (1Y) Calculated over the trailing 1-year period	4.72%	20.80%	-16.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.72%	19.94%	-15.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.72%	20.63%	-15.91%

IMTG vs. SPMO - Expense Ratio Comparison

IMTG has a 0.22% expense ratio, which is higher than SPMO's 0.13% 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

IMTG vs. SPMO - Dividend Comparison

IMTG's dividend yield for the trailing twelve months is around 1.28%, more than SPMO's 0.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IMTG Invesco Agency MBS ETF	1.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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

Can I hold both IMTG and SPMO in my portfolio?

IMTG and SPMO have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IMTG or SPMO?

On fees, SPMO is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IMTG or SPMO?

SPMO is cheaper with a 0.13% expense ratio, compared with 0.22% for IMTG.

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

IMTG has the higher dividend yield at 1.28%, compared with 0.66% for SPMO.

What is the main difference between IMTG and SPMO?

IMTG is categorized as Mortgage Backed Securities, while SPMO is Momentum. Their fees differ too: 0.22% for IMTG and 0.13% for SPMO.