IWMO.MI vs. SPMO

Last updated Apr 3, 2026

Compare and contrast key facts about iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) (IWMO.MI) and Invesco S&P 500 Momentum ETF (SPMO).

IWMO.MI and SPMO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IWMO.MI is a passively managed fund by iShares that tracks the performance of the MSCI World Momentum Index. It was launched on Oct 3, 2014. 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 IWMO.MI 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

IWMO.MI vs. SPMO - Performance Comparison

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

IWMO.MI vs. SPMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IWMO.MI iShares Edge MSCI World Momentum Factor UCITS ETF (Acc)	-0.91%	8.04%	39.23%	7.91%	-13.96%	24.82%	17.08%	31.14%	0.40%	16.05%
SPMO Invesco S&P 500 Momentum ETF	-1.82%	11.56%	55.44%	14.03%	-4.90%	31.82%	17.68%	28.77%	3.73%	12.06%

Different Trading Currencies

IWMO.MI is traded in EUR, while SPMO is traded in USD. To make them comparable, the SPMO values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, IWMO.MI achieves a -0.91% return, which is significantly higher than SPMO's -2.29% return. Over the past 10 years, IWMO.MI has underperformed SPMO with an annualized return of 13.30%, while SPMO has yielded a comparatively higher 17.23% annualized return.

IWMO.MI

• 1D: -0.39%
• 1M: -0.60%
• YTD: -0.91%
• 6M: 1.05%
• 1Y: 11.71%
• 3Y*: 17.57%
• 5Y*: 10.17%
• 10Y*: 13.30%

SPMO

• 1D: 0.00%
• 1M: -3.32%
• YTD: -2.29%
• 6M: -3.45%
• 1Y: 14.86%
• 3Y*: 25.77%
• 5Y*: 18.08%
• 10Y*: 17.23%

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

IWMO.MI vs. SPMO - Expense Ratio Comparison

IWMO.MI 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%.

IWMO.MI

iShares Edge MSCI World Momentum Factor UCITS ETF (Acc)

SPMO

Invesco S&P 500 Momentum ETF

Return for Risk

IWMO.MI vs. SPMO — Risk / Return Rank

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

IWMO.MI

IWMO.MI Risk / Return Rank: 34
IWMO.MI Sharpe Ratio Rank: 29
IWMO.MI Sortino Ratio Rank: 29
IWMO.MI Omega Ratio Rank: 29
IWMO.MI Calmar Ratio Rank: 41
IWMO.MI Martin Ratio Rank: 40

SPMO

SPMO Risk / Return Rank: 58
SPMO Sharpe Ratio Rank: 53
SPMO Sortino Ratio Rank: 55
SPMO Omega Ratio Rank: 58
SPMO Calmar Ratio Rank: 64
SPMO Martin Ratio Rank: 58

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.

IWMO.MI vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) (IWMO.MI) 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.

	IWMO.MI	SPMO	Difference
Sharpe ratio Return per unit of total volatility	0.59	0.60	-0.01
Sortino ratio Return per unit of downside risk	0.95	0.98	-0.03
Omega ratio Gain probability vs. loss probability	1.13	1.15	-0.02
Calmar ratio Return relative to maximum drawdown	1.30	1.11	+0.19
Martin ratio Return relative to average drawdown	4.55	3.61	+0.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IWMO.MI vs. SPMO - Sharpe Ratio Comparison

The current IWMO.MI Sharpe Ratio is 0.59, which is comparable to the SPMO Sharpe Ratio of 0.60. The chart below compares the historical Sharpe Ratios of IWMO.MI and SPMO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	IWMO.MI	SPMO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.59	0.60	-0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.94	-0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.79	0.83	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	0.82	-0.13

Correlation

The correlation between IWMO.MI and SPMO is 0.53, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

IWMO.MI vs. SPMO - Dividend Comparison

IWMO.MI has not paid dividends to shareholders, while SPMO's dividend yield for the trailing twelve months is around 0.88%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IWMO.MI iShares Edge MSCI World Momentum Factor UCITS ETF (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	0.88%	0.73%	0.48%	1.63%	1.66%	0.52%	1.27%	1.39%	1.05%	0.77%	1.94%	0.36%

Drawdowns

IWMO.MI vs. SPMO - Drawdown Comparison

The maximum IWMO.MI drawdown since its inception was -31.03%, roughly equal to the maximum SPMO drawdown of -32.02%. Use the drawdown chart below to compare losses from any high point for IWMO.MI and SPMO.

Drawdown Indicators

	IWMO.MI	SPMO	Difference
Max Drawdown Largest peak-to-trough decline	-31.03%	-30.95%	-0.08%
Max Drawdown (1Y) Largest decline over 1 year	-9.04%	-12.70%	+3.66%
Max Drawdown (5Y) Largest decline over 5 years	-23.45%	-22.74%	-0.71%
Max Drawdown (10Y) Largest decline over 10 years	-31.03%	-30.95%	-0.08%
Current Drawdown Current decline from peak	-5.14%	-7.11%	+1.97%
Average Drawdown Average peak-to-trough decline	-5.96%	-4.66%	-1.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.57%	3.63%	-1.06%

Volatility

IWMO.MI vs. SPMO - Volatility Comparison

iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) (IWMO.MI) has a higher volatility of 7.52% compared to Invesco S&P 500 Momentum ETF (SPMO) at 6.17%. This indicates that IWMO.MI'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.

Volatility by Period

	IWMO.MI	SPMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.52%	6.17%	+1.35%
Volatility (6M) Calculated over the trailing 6-month period	13.11%	12.90%	+0.21%
Volatility (1Y) Calculated over the trailing 1-year period	19.85%	24.87%	-5.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.11%	19.27%	-2.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.52%	20.73%	-3.21%