KMI vs. SPMO

Last updated Jul 17, 2026

KMI (Kinder Morgan, Inc.) 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, KMI returned 9.72%/yr vs 20.30%/yr for SPMO. At a 0.31 correlation, their price movements are largely independent.

Performance

KMI vs. SPMO - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with KMI having a 22.90% return and SPMO slightly lower at 22.29%. Over the past 10 years, KMI has underperformed SPMO with an annualized return of 9.72%, while SPMO has yielded a comparatively higher 20.30% annualized return.

KMI

• 1D: 1.06%
• 1M: 3.50%
• 6M: 23.26%
• YTD: 22.90%
• 1Y: 23.71%
• 3Y*: 31.11%
• 5Y*: 19.89%
• 10Y*: 9.72%

SPMO

• 1D: -3.15%
• 1M: -5.90%
• 6M: 21.88%
• YTD: 22.29%
• 1Y: 29.78%
• 3Y*: 39.07%
• 5Y*: 20.99%
• 10Y*: 20.30%

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

KMI vs. SPMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KMI Kinder Morgan, Inc.	22.90%	4.74%	64.42%	4.10%	21.23%	23.75%	-30.77%	44.43%	-11.18%	-10.56%
SPMO Invesco S&P 500 Momentum ETF	22.29%	26.58%	45.82%	17.56%	-10.45%	22.64%	28.25%	25.93%	-0.92%	27.76%

Correlation

The correlation between KMI and SPMO is -0.10, 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	-0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (10Y) Calculated over the trailing 10-year period	0.33
Correlation (All Time) Calculated using the full available price history since Oct 12, 2015	0.31

The correlation between KMI and SPMO shifts across timeframes, from -0.10 (1 year) to 0.35 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

KMI vs. SPMO — Risk / Return Rank

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

KMI

KMI Risk / Return Rank: 77
KMI Sharpe Ratio Rank: 79
KMI Sortino Ratio Rank: 72
KMI Omega Ratio Rank: 72
KMI Calmar Ratio Rank: 82
KMI Martin Ratio Rank: 80

SPMO

SPMO Risk / Return Rank: 51
SPMO Sharpe Ratio Rank: 46
SPMO Sortino Ratio Rank: 43
SPMO Omega Ratio Rank: 47
SPMO Calmar Ratio Rank: 59
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.

KMI vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kinder Morgan, Inc. (KMI) 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.

	KMI	SPMO	Difference
Sharpe ratio: Return per unit of total volatility	1.18	1.32	-0.15
Sortino ratio: Return per unit of downside risk	1.65	1.84	-0.19
Omega ratio: Gain probability vs. loss probability	1.21	1.25	-0.04
Calmar ratio: Return relative to maximum drawdown	2.36	2.36	+0.01
Martin ratio: Return relative to average drawdown	5.38	8.15	-2.76

KMI vs. SPMO - Sharpe Ratio Comparison

The current KMI Sharpe Ratio is 1.18, which is comparable to the SPMO Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of KMI 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

KMI vs. SPMO - Drawdown Comparison

The maximum KMI drawdown since its inception was -72.70%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for KMI and SPMO.

Drawdown Indicators

	KMI	SPMO	Difference
Max Drawdown Largest peak-to-trough decline	-72.70%	-30.95%	-41.75%
Max Drawdown (1Y) Largest decline over 1 year	-10.08%	-12.70%	+2.62%
Max Drawdown (3Y) Largest decline over 3 years	-18.40%	-20.13%	+1.73%
Max Drawdown (5Y) Largest decline over 5 years	-20.31%	-22.74%	+2.43%
Max Drawdown (10Y) Largest decline over 10 years	-55.13%	-30.95%	-24.18%
Current Drawdown Current decline from peak	-3.36%	-10.13%	+6.77%
Average Drawdown Average peak-to-trough decline	-31.90%	-4.59%	-27.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.42%	3.67%	+0.75%

Volatility

KMI vs. SPMO - Volatility Comparison

The current volatility for Kinder Morgan, Inc. (KMI) is 5.56%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 11.67%. This indicates that KMI 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.

Volatility by Period

	KMI	SPMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.56%	11.67%	-6.11%
Volatility (6M) Calculated over the trailing 6-month period	14.53%	20.23%	-5.70%
Volatility (1Y) Calculated over the trailing 1-year period	20.25%	22.58%	-2.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.46%	20.33%	+2.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.53%	20.83%	+6.70%

Dividends

KMI vs. SPMO - Dividend Comparison

KMI's dividend yield for the trailing twelve months is around 5.44%, more than SPMO's 0.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KMI Kinder Morgan, Inc.	5.44%	4.24%	4.18%	6.38%	6.10%	6.76%	7.59%	4.49%	4.71%	2.77%	2.41%	12.94%
SPMO Invesco S&P 500 Momentum ETF	0.72%	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 KMI and SPMO in my portfolio?

KMI and SPMO have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KMI or SPMO?

SPMO has higher volatility (11.67%) compared to KMI (5.56%). In terms of maximum drawdown, KMI dropped -72.70% vs SPMO's -30.95%.

Which has better risk-adjusted returns?

SPMO currently has the higher Sharpe Ratio (1.32 vs 1.18), 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.