IWDL vs. SPMO
Compare and contrast key facts about ETRACS 2x Leveraged US Value Factor TR ETN (IWDL) and Invesco S&P 500 Momentum ETF (SPMO).
IWDL and SPMO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IWDL is a passively managed fund by UBS that tracks the performance of the Russell 1000 Value (200%). It was launched on Feb 5, 2021. SPMO is a passively managed fund by Invesco that tracks the performance of the S&P 500 Momentum Index. It was launched on Oct 9, 2015. Both IWDL and SPMO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
IWDL vs. SPMO - Performance Comparison
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IWDL vs. SPMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IWDL ETRACS 2x Leveraged US Value Factor TR ETN | 3.56% | 25.02% | 20.68% | 13.50% | -21.27% | 40.35% |
SPMO Invesco S&P 500 Momentum ETF | -3.77% | 26.58% | 45.82% | 17.56% | -10.45% | 18.70% |
Returns By Period
In the year-to-date period, IWDL achieves a 3.56% return, which is significantly higher than SPMO's -3.77% return.
IWDL
- 1D
- 1.47%
- 1M
- -8.63%
- YTD
- 3.56%
- 6M
- 9.75%
- 1Y
- 26.48%
- 3Y*
- 21.30%
- 5Y*
- 11.19%
- 10Y*
- —
SPMO
- 1D
- 2.13%
- 1M
- -4.40%
- YTD
- -3.77%
- 6M
- -4.53%
- 1Y
- 23.97%
- 3Y*
- 29.27%
- 5Y*
- 17.66%
- 10Y*
- 17.41%
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IWDL vs. SPMO - Expense Ratio Comparison
IWDL has a 0.95% expense ratio, which is higher than SPMO's 0.13% expense ratio.
Return for Risk
IWDL vs. SPMO — Risk / Return Rank
IWDL
SPMO
IWDL vs. SPMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS 2x Leveraged US Value Factor TR ETN (IWDL) 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.
| IWDL | SPMO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.79 | 1.06 | -0.27 |
Sortino ratioReturn per unit of downside risk | 1.29 | 1.60 | -0.31 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.24 | -0.04 |
Calmar ratioReturn relative to maximum drawdown | 1.08 | 1.96 | -0.88 |
Martin ratioReturn relative to average drawdown | 5.01 | 6.90 | -1.89 |
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
| IWDL | SPMO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.79 | 1.06 | -0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.37 | 0.93 | -0.56 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.87 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.86 | -0.40 |
Correlation
The correlation between IWDL and SPMO is 0.70, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
IWDL vs. SPMO - Dividend Comparison
IWDL has not paid dividends to shareholders, while SPMO's dividend yield for the trailing twelve months is around 0.89%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWDL ETRACS 2x Leveraged US Value Factor TR ETN | 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 | 0.89% | 0.73% | 0.48% | 1.63% | 1.66% | 0.52% | 1.27% | 1.39% | 1.05% | 0.77% | 1.94% | 0.36% |
Drawdowns
IWDL vs. SPMO - Drawdown Comparison
The maximum IWDL drawdown since its inception was -37.95%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for IWDL and SPMO.
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Drawdown Indicators
| IWDL | SPMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.95% | -30.95% | -7.00% |
Max Drawdown (1Y)Largest decline over 1 year | -23.92% | -12.70% | -11.22% |
Max Drawdown (5Y)Largest decline over 5 years | -37.95% | -22.74% | -15.21% |
Max Drawdown (10Y)Largest decline over 10 years | — | -30.95% | — |
Current DrawdownCurrent decline from peak | -8.63% | -7.31% | -1.32% |
Average DrawdownAverage peak-to-trough decline | -10.90% | -4.66% | -6.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.15% | 3.60% | +1.55% |
Volatility
IWDL vs. SPMO - Volatility Comparison
ETRACS 2x Leveraged US Value Factor TR ETN (IWDL) has a higher volatility of 8.67% compared to Invesco S&P 500 Momentum ETF (SPMO) at 7.22%. This indicates that IWDL'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.
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Volatility by Period
| IWDL | SPMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.67% | 7.22% | +1.45% |
Volatility (6M)Calculated over the trailing 6-month period | 18.10% | 12.80% | +5.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.75% | 22.77% | +10.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.32% | 19.08% | +11.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.24% | 20.09% | +10.15% |