PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
IUMF.L vs. SPMO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IUMF.L vs. SPMO

Last updated Jun 5, 2026

IUMF.L (iShares Edge MSCI USA Momentum Factor UCITS ETF) and SPMO (Invesco S&P 500 Momentum ETF) are both Momentum funds - IUMF.L tracks the MSCI USA Momentum Index while SPMO tracks the S&P 500 Momentum Index. Both are passively managed. Over the past 5 years, IUMF.L returned 15.33%/yr vs 25.26%/yr for SPMO. A 0.57 correlation means they provide meaningful diversification when combined. IUMF.L charges 0.20%/yr vs 0.13%/yr for SPMO.

Performance

IUMF.L vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Edge MSCI USA Momentum Factor UCITS ETF (IUMF.L) and Invesco S&P 500 Momentum ETF (SPMO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Different Trading Currencies

IUMF.L is traded in GBp, while SPMO is traded in USD. To make them comparable, the SPMO values have been converted to GBp using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with IUMF.L having a 29.89% return and SPMO slightly lower at 28.97%.

IUMF.L

1D
-1.75%
1M
13.21%
YTD
29.89%
6M
29.09%
1Y
40.90%
3Y*
28.84%
5Y*
15.33%
10Y*
—

SPMO

1D
-1.46%
1M
11.86%
YTD
28.97%
6M
26.62%
1Y
45.32%
3Y*
38.70%
5Y*
25.26%
10Y*
21.67%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IUMF.L vs. SPMO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IUMF.L
iShares Edge MSCI USA Momentum Factor UCITS ETF		29.89%9.14%34.88%3.73%-8.43%14.11%25.03%23.31%2.39%24.77%
SPMO
Invesco S&P 500 Momentum ETF		28.97%17.56%48.36%11.68%0.20%23.81%24.49%21.14%4.96%16.71%

Correlation

The correlation between IUMF.L and SPMO is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.67

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

0.61

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

0.58

Correlation (All Time)
Calculated using the full available price history since Oct 18, 2016

0.57

The correlation between IUMF.L and SPMO has been stable across timeframes, ranging from 0.57 to 0.67 - a consistent structural relationship.

IUMF.L vs. SPMO - Sectors Allocation Comparison

Sectors
IUMF.L
SPMO

Technology

42.9%
52.6%

Industrials

19.2%
11.3%

Healthcare

9.6%
6.7%

Financial Services

7.3%
5.9%

Communication Services

6.7%
9.2%

Consumer Cyclical

5.1%
1.3%

Energy

2.5%
3.4%

Consumer Defensive

2.2%
4.3%

Basic Materials

1.9%
1.6%

Utilities

1.5%
2.8%

Real Estate

1.1%
1.0%

Technology

IUMF.L
42.9%
SPMO
52.6%

Industrials

IUMF.L
19.2%
SPMO
11.3%

Healthcare

IUMF.L
9.6%
SPMO
6.7%

Financial Services

IUMF.L
7.3%
SPMO
5.9%

Communication Services

IUMF.L
6.7%
SPMO
9.2%

Consumer Cyclical

IUMF.L
5.1%
SPMO
1.3%

Energy

IUMF.L
2.5%
SPMO
3.4%

Consumer Defensive

IUMF.L
2.2%
SPMO
4.3%

Basic Materials

IUMF.L
1.9%
SPMO
1.6%

Utilities

IUMF.L
1.5%
SPMO
2.8%

Real Estate

IUMF.L
1.1%
SPMO
1.0%

Compare stocks, funds, or ETFs

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

iShares Edge MSCI USA Momentum Factor UCITS ETF

Invesco S&P 500 Momentum ETF

Often compared with IUMF.L:
IUMF.L vs. IWFM.LIUMF.L vs. XDEM.LIUMF.L vs. JPLG.LIUMF.L vs. FSUS.LIUMF.L vs. IUMD.LIUMF.L vs. JMOMIUMF.L vs. QQQ
Often compared with SPMO:
SPMO vs. VOOSPMO vs. QQQSPMO vs. SCHGSPMO vs. MTUMSPMO vs. VUGSPMO vs. VFMOSPMO vs. XMMO

Return for Risk

IUMF.L vs. SPMO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IUMF.L
IUMF.L Risk / Return Rank: 7474
Overall Rank
IUMF.L Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
IUMF.L Sortino Ratio Rank: 7272
Sortino Ratio Rank
IUMF.L Omega Ratio Rank: 6969
Omega Ratio Rank
IUMF.L Calmar Ratio Rank: 8383
Calmar Ratio Rank
IUMF.L Martin Ratio Rank: 7575
Martin Ratio Rank
SPMO
SPMO Risk / Return Rank: 7575
Overall Rank
SPMO Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
SPMO Sortino Ratio Rank: 7676
Sortino Ratio Rank
SPMO Omega Ratio Rank: 7575
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.

IUMF.L vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI USA Momentum Factor UCITS ETF (IUMF.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.

IUMF.LSPMODifference
Sharpe ratioReturn per unit of total volatility
2.26
2.68

-0.42

Sortino ratioReturn per unit of downside risk
3.19
3.48

-0.29

Omega ratioGain probability vs. loss probability

1.40

1.47

-0.06

Calmar ratioReturn relative to maximum drawdown

4.37

3.61

+0.76

Martin ratioReturn relative to average drawdown

14.10

11.17

+2.93

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

IUMF.L vs. SPMO - Sharpe Ratio Comparison

The current IUMF.L Sharpe Ratio is 2.26, which is comparable to the SPMO Sharpe Ratio of 2.68. The chart below compares the historical Sharpe Ratios of IUMF.L 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.

Loading charts...

Sharpe Ratios by Period

IUMF.LSPMODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.26

2.68

-0.42

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.84

1.36

-0.52

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

1.04

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.85

1.05

-0.20

Drawdowns

IUMF.L vs. SPMO - Drawdown Comparison

The maximum IUMF.L drawdown since its inception was -25.23%, roughly equal to the maximum SPMO drawdown of -25.97%. Use the drawdown chart below to compare losses from any high point for IUMF.L and SPMO.

Loading charts...

Drawdown Indicators

IUMF.LSPMODifference

Max Drawdown

Largest peak-to-trough decline

-25.23%

-25.97%

+0.74%

Max Drawdown (1Y)

Largest decline over 1 year

-9.32%

-12.62%

+3.30%

Max Drawdown (3Y)

Largest decline over 3 years

-22.56%

-23.01%

+0.45%

Max Drawdown (5Y)

Largest decline over 5 years

-24.37%

-23.01%

-1.36%

Max Drawdown (10Y)

Largest decline over 10 years

—

-25.97%

—

Current Drawdown

Current decline from peak

-1.75%

-1.46%

-0.29%

Average Drawdown

Average peak-to-trough decline

-6.44%

-4.14%

-2.30%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.89%

4.07%

-1.18%

Volatility

IUMF.L vs. SPMO - Volatility Comparison

iShares Edge MSCI USA Momentum Factor UCITS ETF (IUMF.L) has a higher volatility of 7.86% compared to Invesco S&P 500 Momentum ETF (SPMO) at 6.92%. This indicates that IUMF.L's price experiences larger fluctuations and is considered to be riskier than SPMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

IUMF.LSPMODifference

Volatility (1M)

Calculated over the trailing 1-month period

7.86%

6.92%

+0.94%

Volatility (6M)

Calculated over the trailing 6-month period

15.09%

13.27%

+1.82%

Volatility (1Y)

Calculated over the trailing 1-year period

17.99%

16.99%

+1.00%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.29%

18.63%

-0.34%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.66%

20.82%

-2.16%

IUMF.L vs. SPMO - Expense Ratio Comparison

IUMF.L has a 0.20% 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

IUMF.L vs. SPMO - Dividend Comparison

IUMF.L has not paid dividends to shareholders, while SPMO's dividend yield for the trailing twelve months is around 0.66%.

PositionTTM20252024202320222021202020192018201720162015
IUMF.L
iShares Edge MSCI USA Momentum Factor UCITS ETF		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

IUMF.L and SPMO have a correlation of 0.67, 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 0.20% for IUMF.L.

IUMF.L tracks MSCI USA Momentum Index, while SPMO tracks S&P 500 Momentum Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.20% for IUMF.L and 0.13% for SPMO.

Portfolio Optimizer

Find the right allocation for IUMF.L and SPMO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer