LRGF vs. SPMO

Last updated Jun 3, 2026

LRGF (iShares MSCI USA Multifactor ETF) and SPMO (Invesco S&P 500 Momentum ETF) are both exchange-traded funds - LRGF is a Large Cap Blend Equities fund tracking the MSCI USA Diversified Multi-Factor, while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. Both are passively managed. Over the past 10 years, LRGF returned 14.11%/yr vs 20.89%/yr for SPMO. A 0.75 correlation means they provide meaningful diversification when combined. LRGF charges 0.20%/yr vs 0.13%/yr for SPMO.

Performance

LRGF vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Multifactor ETF (LRGF) 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, LRGF achieves a 11.29% return, which is significantly lower than SPMO's 29.70% return. Over the past 10 years, LRGF has underperformed SPMO with an annualized return of 14.11%, while SPMO has yielded a comparatively higher 20.89% annualized return.

LRGF

• 1D: 0.18%
• 1M: 6.67%
• YTD: 11.29%
• 6M: 11.73%
• 1Y: 26.79%
• 3Y*: 23.10%
• 5Y*: 14.20%
• 10Y*: 14.11%

SPMO

• 1D: 1.31%
• 1M: 14.80%
• YTD: 29.70%
• 6M: 30.19%
• 1Y: 46.28%
• 3Y*: 42.80%
• 5Y*: 24.51%
• 10Y*: 20.89%

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

LRGF vs. SPMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LRGF iShares MSCI USA Multifactor ETF	11.29%	16.48%	26.59%	25.85%	-14.77%	25.01%	11.11%	26.11%	-9.66%	21.13%
SPMO Invesco S&P 500 Momentum ETF	29.70%	26.58%	45.82%	17.56%	-10.45%	22.64%	28.25%	25.93%	-0.92%	27.76%

Correlation

The correlation between LRGF and SPMO is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.78
Correlation (All Time) Calculated using the full available price history since Oct 13, 2015	0.75

The correlation between LRGF and SPMO shifts across timeframes, from 0.75 (all time) to 0.86 (1 year), reflecting how their relationship changes across market environments.

LRGF vs. SPMO - Sectors Allocation Comparison

Sectors	LRGF	SPMO
Technology	35.6%	52.6%
Financial Services	12.5%	5.9%
Consumer Cyclical	11.2%	1.3%
Healthcare	9.1%	6.7%
Communication Services	8.2%	9.2%
Industrials	8.1%	11.3%
Consumer Defensive	6.0%	4.3%
Energy	3.7%	3.4%
Utilities	2.3%	2.8%
Basic Materials	2.0%	1.6%
Real Estate	1.3%	1.0%

Return for Risk

LRGF vs. SPMO — Risk / Return Rank

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

LRGF

LRGF Risk / Return Rank: 65
LRGF Sharpe Ratio Rank: 67
LRGF Sortino Ratio Rank: 65
LRGF Omega Ratio Rank: 65
LRGF Calmar Ratio Rank: 61
LRGF Martin Ratio Rank: 68

SPMO

SPMO Risk / Return Rank: 77
SPMO Sharpe Ratio Rank: 80
SPMO Sortino Ratio Rank: 78
SPMO Omega Ratio Rank: 78
SPMO Calmar Ratio Rank: 74
SPMO Martin Ratio Rank: 76

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.

LRGF vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Multifactor ETF (LRGF) 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.

	LRGF	SPMO	Difference
Sharpe ratio Return per unit of total volatility	2.24	2.64	-0.40
Sortino ratio Return per unit of downside risk	3.06	3.55	-0.49
Omega ratio Gain probability vs. loss probability	1.40	1.47	-0.07
Calmar ratio Return relative to maximum drawdown	3.08	3.76	-0.68
Martin ratio Return relative to average drawdown	12.80	14.67	-1.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LRGF vs. SPMO - Sharpe Ratio Comparison

The current LRGF Sharpe Ratio is 2.24, which is comparable to the SPMO Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of LRGF 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.

Sharpe Ratios by Period

	LRGF	SPMO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.24	2.64	-0.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	1.28	-0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.77	1.03	-0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	1.01	-0.31

Drawdowns

LRGF vs. SPMO - Drawdown Comparison

The maximum LRGF drawdown since its inception was -36.03%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for LRGF and SPMO.

Drawdown Indicators

	LRGF	SPMO	Difference
Max Drawdown Largest peak-to-trough decline	-36.03%	-30.95%	-5.08%
Max Drawdown (1Y) Largest decline over 1 year	-8.92%	-12.70%	+3.78%
Max Drawdown (3Y) Largest decline over 3 years	-19.44%	-20.13%	+0.69%
Max Drawdown (5Y) Largest decline over 5 years	-21.62%	-22.74%	+1.12%
Max Drawdown (10Y) Largest decline over 10 years	-36.03%	-30.95%	-5.08%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.54%	-4.60%	+0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.14%	3.26%	-1.12%

Volatility

LRGF vs. SPMO - Volatility Comparison

The current volatility for iShares MSCI USA Multifactor ETF (LRGF) is 2.79%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 7.38%. This indicates that LRGF 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

	LRGF	SPMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.79%	7.38%	-4.59%
Volatility (6M) Calculated over the trailing 6-month period	9.07%	14.44%	-5.37%
Volatility (1Y) Calculated over the trailing 1-year period	12.04%	17.65%	-5.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.02%	19.31%	-2.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.31%	20.31%	-2.00%

LRGF vs. SPMO - Expense Ratio Comparison

LRGF has a 0.20% 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%.

Dividends

LRGF vs. SPMO - Dividend Comparison

LRGF's dividend yield for the trailing twelve months is around 1.05%, more than SPMO's 0.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LRGF iShares MSCI USA Multifactor ETF	1.05%	1.16%	1.23%	1.49%	1.78%	1.05%	1.35%	1.76%	3.27%	1.68%	1.56%	0.83%
SPMO Invesco S&P 500 Momentum ETF	0.66%	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 LRGF and SPMO in my portfolio?

LRGF and SPMO have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LRGF or SPMO?

SPMO has higher volatility (7.38%) compared to LRGF (2.79%). In terms of maximum drawdown, LRGF dropped -36.03% vs SPMO's -30.95%.

Which ETF is better, LRGF or SPMO?

On 10-year performance, SPMO leads with 20.89% vs 14.11% for LRGF. On fees, SPMO is cheaper at 0.13% per year. On volatility, LRGF has been the lower-risk option at 2.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LRGF or SPMO?

Over the 10-year period, SPMO has performed better with a 20.89% return vs 14.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LRGF or SPMO?

SPMO is cheaper with a 0.13% expense ratio, compared with 0.20% for LRGF.

Which ETF pays a higher dividend yield, LRGF or SPMO?

LRGF has the higher dividend yield at 1.05%, compared with 0.66% for SPMO.

What is the main difference between LRGF and SPMO?

LRGF is categorized as Large Cap Blend Equities, while SPMO is Momentum. LRGF tracks MSCI USA Diversified Multi-Factor, while SPMO tracks S&P 500 Momentum Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.20% for LRGF and 0.13% for SPMO.

Which has better risk-adjusted returns?

SPMO currently has the higher Sharpe Ratio (2.64 vs 2.24), 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.