IUAA.L vs. SPMO
IUAA.L (iShares US Aggregate Bond UCITS ETF USD Acc) and SPMO (Invesco S&P 500 Momentum ETF) are both exchange-traded funds - IUAA.L is a Total Bond Market fund tracking the Bloomberg US Aggregate Bond Index, while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. Both are passively managed. Over the past 5 years, IUAA.L returned -0.05%/yr vs 23.92%/yr for SPMO. At a 0.03 correlation, their price movements are largely independent. IUAA.L charges 0.25%/yr vs 0.13%/yr for SPMO.
Performance
IUAA.L vs. SPMO - Performance Comparison
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Returns By Period
In the year-to-date period, IUAA.L achieves a -0.10% return, which is significantly lower than SPMO's 28.45% return.
IUAA.L
- 1D
- 0.33%
- 1M
- 0.12%
- YTD
- -0.10%
- 6M
- 0.49%
- 1Y
- 4.66%
- 3Y*
- 3.74%
- 5Y*
- -0.05%
- 10Y*
- —
SPMO
- 1D
- -1.46%
- 1M
- 10.84%
- YTD
- 28.45%
- 6M
- 27.50%
- 1Y
- 43.92%
- 3Y*
- 42.27%
- 5Y*
- 23.92%
- 10Y*
- 20.77%
IUAA.L vs. SPMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IUAA.L iShares US Aggregate Bond UCITS ETF USD Acc | -0.10% | 7.27% | 1.28% | 4.87% | -12.82% | -2.02% | 7.08% | 8.70% | -0.38% | 1.62% |
SPMO Invesco S&P 500 Momentum ETF | 28.45% | 26.58% | 45.82% | 17.56% | -10.45% | 22.64% | 28.25% | 25.93% | -0.92% | 22.25% |
Correlation
The correlation between IUAA.L and SPMO is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Apr 17, 2017 | 0.03 |
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Return for Risk
IUAA.L vs. SPMO — Risk / Return Rank
IUAA.L
SPMO
IUAA.L vs. SPMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares US Aggregate Bond UCITS ETF USD Acc (IUAA.L) 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.
| IUAA.L | SPMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.30 | ||
| Sortino ratioReturn per unit of downside risk | -1.62 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.44 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.53 | 3.47 | -1.94 |
| Martin ratioReturn relative to average drawdown | 4.92 | 13.52 | -8.61 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IUAA.L | SPMO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.19 | 2.49 | -1.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.01 | 1.25 | -1.25 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.03 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.28 | 1.00 | -0.72 |
Drawdowns
IUAA.L vs. SPMO - Drawdown Comparison
The maximum IUAA.L drawdown since its inception was -19.02%, smaller than the maximum SPMO drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for IUAA.L and SPMO.
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Drawdown Indicators
| IUAA.L | SPMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.02% | -30.95% | +11.93% |
Max Drawdown (1Y)Largest decline over 1 year | -3.03% | -12.70% | +9.67% |
Max Drawdown (3Y)Largest decline over 3 years | -5.90% | -20.13% | +14.23% |
Max Drawdown (5Y)Largest decline over 5 years | -18.11% | -22.74% | +4.63% |
Max Drawdown (10Y)Largest decline over 10 years | — | -30.95% | — |
Current DrawdownCurrent decline from peak | -3.38% | -1.46% | -1.92% |
Average DrawdownAverage peak-to-trough decline | -5.58% | -4.60% | -0.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 3.26% | -2.31% |
Volatility
IUAA.L vs. SPMO - Volatility Comparison
The current volatility for iShares US Aggregate Bond UCITS ETF USD Acc (IUAA.L) is 1.61%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 7.39%. This indicates that IUAA.L 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
| IUAA.L | SPMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.61% | 7.39% | -5.78% |
Volatility (6M)Calculated over the trailing 6-month period | 2.95% | 14.49% | -11.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.91% | 17.70% | -13.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.99% | 19.30% | -13.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.30% | 20.31% | -15.01% |
IUAA.L vs. SPMO - Expense Ratio Comparison
IUAA.L has a 0.25% 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
IUAA.L vs. SPMO - Dividend Comparison
IUAA.L has not paid dividends to shareholders, while SPMO's dividend yield for the trailing twelve months is around 0.66%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IUAA.L iShares US Aggregate Bond UCITS ETF USD Acc | 0.00% | 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
IUAA.L and SPMO have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
SPMO is cheaper with a 0.13% expense ratio, compared with 0.25% for IUAA.L.
IUAA.L is categorized as Total Bond Market, while SPMO is Momentum. IUAA.L tracks Bloomberg US Aggregate Bond Index, while SPMO tracks S&P 500 Momentum Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.25% for IUAA.L and 0.13% for SPMO.
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