KLAC vs. SPMO

Last updated Aug 1, 2026

KLAC (KLA Corporation) is a stock, while SPMO (Invesco S&P 500 Momentum ETF) is Momentum fund tracking the S&P 500 Momentum Index. Over the past 10 years, KLAC returned 39.77%/yr vs 19.57%/yr for SPMO. Their 0.60 correlation means they have sometimes moved together and sometimes differently.

Performance

KLAC vs. SPMO - Performance Comparison

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

Returns By Period

In the year-to-date period, KLAC achieves a 50.85% return, which is significantly higher than SPMO's 21.07% return. Over the past 10 years, KLAC has outperformed SPMO with an annualized return of 39.77%, while SPMO has yielded a comparatively lower 19.57% annualized return.

KLAC

• 1D: 1.38%
• 1M: -31.32%
• 6M: 28.36%
• YTD: 50.85%
• 1Y: 109.32%
• 3Y*: 53.92%
• 5Y*: 40.75%
• 10Y*: 39.77%
• ALL TIME*: 22.49%

SPMO

• 1D: 0.29%
• 1M: -7.40%
• 6M: 20.51%
• YTD: 21.07%
• 1Y: 25.37%
• 3Y*: 37.36%
• 5Y*: 20.21%
• 10Y*: 19.57%
• ALL TIME*: 18.93%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
KLAC KLA Corporation	$2.50B	$2.71B	$2.78B
SPMO Invesco S&P 500 Momentum ETF	$331.54M	$346.70M	$350.59M

KLAC vs. SPMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KLAC KLA Corporation	50.85%	94.48%	9.36%	56.05%	-11.20%	68.05%	47.94%	103.99%	-12.49%	36.80%
SPMO Invesco S&P 500 Momentum ETF	21.07%	26.58%	45.82%	17.56%	-10.45%	22.64%	28.25%	25.93%	-0.92%	27.76%

Correlation

The correlation between KLAC and SPMO is 0.74, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.74
Correlation (3Y) Balances recent behavior with more history.	0.69
Correlation (5Y) Shows whether the relationship held over a longer period.	0.67
Correlation (10Y) Provides a long-term view across more market conditions.	0.62
Correlation (All Time) Calculated using the full available price history since Oct 12, 2015	0.60

The correlation between KLAC and SPMO shifts across timeframes, from 0.60 (all time) to 0.74 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

KLAC vs. SPMO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

KLAC

KLAC Risk / Return Rank: 87
KLAC Sharpe Ratio Rank: 90
KLAC Sortino Ratio Rank: 84
KLAC Omega Ratio Rank: 86
KLAC Calmar Ratio Rank: 84
KLAC Martin Ratio Rank: 90

SPMO

SPMO Risk / Return Rank: 46
SPMO Sharpe Ratio Rank: 43
SPMO Sortino Ratio Rank: 43
SPMO Omega Ratio Rank: 45
SPMO Calmar Ratio Rank: 46
SPMO Martin Ratio Rank: 51

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

KLAC vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KLA Corporation (KLAC) 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.

	KLAC	SPMO	Difference
Sharpe ratio: Return per unit of total volatility	1.85	1.07	+0.79
Sortino ratio: Return per unit of downside risk	2.25	1.56	+0.69
Omega ratio: Gain probability vs. loss probability	1.31	1.21	+0.11
Calmar ratio: Return relative to maximum drawdown	2.52	1.63	+0.89
Martin ratio: Return relative to average drawdown	9.80	5.93	+3.87

KLAC vs. SPMO - Sharpe Ratio Comparison

The current KLAC Sharpe Ratio is 1.85, which is higher than the SPMO Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of KLAC 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.

Drawdowns

KLAC vs. SPMO - Drawdown Comparison

The maximum KLAC drawdown since its inception was -83.74%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for KLAC and SPMO.

Drawdown Indicators

	KLAC	SPMO	Difference
Max Drawdown Largest peak-to-trough decline	-83.74%	-30.95%	-52.79%
Max Drawdown (1Y) Largest decline over 1 year	-43.59%	-15.64%	-27.95%
Max Drawdown (3Y) Largest decline over 3 years	-43.59%	-20.13%	-23.46%
Max Drawdown (5Y) Largest decline over 5 years	-43.59%	-22.74%	-20.85%
Max Drawdown (10Y) Largest decline over 10 years	-43.59%	-30.95%	-12.64%
Current Drawdown Current decline from peak	-39.41%	-11.03%	-28.38%
Average Drawdown Average peak-to-trough decline	-29.29%	-4.62%	-24.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.20%	4.29%	+6.91%

Volatility

KLAC vs. SPMO - Volatility Comparison

KLA Corporation (KLAC) has a higher volatility of 22.35% compared to Invesco S&P 500 Momentum ETF (SPMO) at 10.53%. This indicates that KLAC'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

	KLAC	SPMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.35%	10.53%	+11.82%
Volatility (6M) Calculated over the trailing 6-month period	51.87%	21.52%	+30.35%
Volatility (1Y) Calculated over the trailing 1-year period	59.59%	23.90%	+35.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.07%	20.60%	+25.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.21%	20.92%	+22.29%

Dividends

KLAC vs. SPMO - Dividend Comparison

KLAC's dividend yield for the trailing twelve months is around 0.44%, less than SPMO's 0.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KLAC KLA Corporation	0.44%	0.61%	0.96%	0.92%	1.25%	0.91%	1.35%	1.74%	3.17%	2.15%	2.67%	2.94%
SPMO Invesco S&P 500 Momentum ETF	0.73%	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 KLAC and SPMO in my portfolio?

KLAC and SPMO have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KLAC or SPMO?

KLAC has higher volatility (22.35%) compared to SPMO (10.53%). In terms of maximum drawdown, KLAC dropped -83.74% vs SPMO's -30.95%.

Which has better risk-adjusted returns?

KLAC currently has the higher Sharpe Ratio (1.85 vs 1.07), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.