LIN vs. SPMO

Last updated Jun 13, 2026

LIN (Linde plc) is a stock, while SPMO (Invesco S&P 500 Momentum ETF) is Momentum fund tracking the S&P 500 Momentum Index. Over the past 5 years, LIN returned 13.98%/yr vs 23.50%/yr for SPMO. At a 0.49 correlation, their price movements are largely independent.

Performance

LIN vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Linde plc (LIN) 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, LIN achieves a 23.59% return, which is significantly lower than SPMO's 28.15% return.

LIN

• 1D: 1.58%
• 1M: 3.78%
• YTD: 23.59%
• 6M: 26.61%
• 1Y: 13.87%
• 3Y*: 13.38%
• 5Y*: 13.98%
• 10Y*: —

SPMO

• 1D: 1.26%
• 1M: 3.36%
• YTD: 28.15%
• 6M: 28.70%
• 1Y: 44.90%
• 3Y*: 41.53%
• 5Y*: 23.50%
• 10Y*: 20.86%

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

LIN vs. SPMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
LIN Linde plc	23.59%	3.22%	3.18%	27.66%	-4.39%	33.39%	25.88%	39.04%	-5.26%
SPMO Invesco S&P 500 Momentum ETF	28.15%	26.58%	45.82%	17.56%	-10.45%	22.64%	28.25%	25.93%	-16.38%

Correlation

The correlation between LIN and SPMO is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (All Time) Calculated using the full available price history since Oct 1, 2018	0.49

Over the past year, the correlation between LIN and SPMO has dropped to 0.12 - well below their long-term average of 0.49, suggesting their price drivers have been diverging.

Return for Risk

LIN vs. SPMO — Risk / Return Rank

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

LIN

LIN Risk / Return Rank: 61
LIN Sharpe Ratio Rank: 67
LIN Sortino Ratio Rank: 60
LIN Omega Ratio Rank: 57
LIN Calmar Ratio Rank: 58
LIN Martin Ratio Rank: 61

SPMO

SPMO Risk / Return Rank: 79
SPMO Sharpe Ratio Rank: 81
SPMO Sortino Ratio Rank: 78
SPMO Omega Ratio Rank: 80
SPMO Calmar Ratio Rank: 77
SPMO Martin Ratio Rank: 78

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.

LIN vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Linde plc (LIN) 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.

	LIN	SPMO	Difference
Sharpe ratio: Return per unit of total volatility	0.74	2.24	-1.50
Sortino ratio: Return per unit of downside risk	1.16	2.98	-1.82
Omega ratio: Gain probability vs. loss probability	1.13	1.41	-0.28
Calmar ratio: Return relative to maximum drawdown	0.67	3.44	-2.77
Martin ratio: Return relative to average drawdown	1.89	13.01	-11.12

LIN vs. SPMO - Sharpe Ratio Comparison

The current LIN Sharpe Ratio is 0.74, which is lower than the SPMO Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of LIN 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

LIN vs. SPMO - Drawdown Comparison

The maximum LIN drawdown since its inception was -32.59%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for LIN and SPMO.

Drawdown Indicators

	LIN	SPMO	Difference
Max Drawdown Largest peak-to-trough decline	-32.59%	-30.95%	-1.64%
Max Drawdown (1Y) Largest decline over 1 year	-19.18%	-12.70%	-6.48%
Max Drawdown (3Y) Largest decline over 3 years	-19.18%	-20.13%	+0.95%
Max Drawdown (5Y) Largest decline over 5 years	-22.82%	-22.74%	-0.08%
Max Drawdown (10Y) Largest decline over 10 years	—	-30.95%	—
Current Drawdown Current decline from peak	0.00%	-1.68%	+1.68%
Average Drawdown Average peak-to-trough decline	-5.41%	-4.60%	-0.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.79%	3.35%	+3.44%

Volatility

LIN vs. SPMO - Volatility Comparison

The current volatility for Linde plc (LIN) is 5.57%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 10.29%. This indicates that LIN 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

	LIN	SPMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.57%	10.29%	-4.72%
Volatility (6M) Calculated over the trailing 6-month period	13.53%	16.73%	-3.20%
Volatility (1Y) Calculated over the trailing 1-year period	17.24%	19.48%	-2.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.79%	19.65%	+1.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.08%	20.48%	+3.60%

Dividends

LIN vs. SPMO - Dividend Comparison

LIN's dividend yield for the trailing twelve months is around 1.18%, more than SPMO's 0.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LIN Linde plc	1.18%	1.41%	1.33%	1.24%	1.43%	1.22%	1.46%	1.64%	0.53%	0.00%	0.00%	0.00%
SPMO Invesco S&P 500 Momentum ETF	0.67%	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 LIN and SPMO in my portfolio?

LIN and SPMO have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LIN or SPMO?

SPMO has higher volatility (10.29%) compared to LIN (5.57%). In terms of maximum drawdown, LIN dropped -32.59% vs SPMO's -30.95%.

Which has better risk-adjusted returns?

SPMO currently has the higher Sharpe Ratio (2.24 vs 0.74), 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.