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LUG.TO vs. SPMO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

LUG.TO vs. SPMO

Last updated Jun 13, 2026

LUG.TO (Lundin Gold 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, LUG.TO returned 32.69%/yr vs 21.90%/yr for SPMO. At a 0.13 correlation, their price movements are largely independent.

Performance

LUG.TO vs. SPMO - Performance Comparison

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

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Different Trading Currencies

LUG.TO is traded in CAD, while SPMO is traded in USD. To make them comparable, the SPMO values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, LUG.TO achieves a -26.40% return, which is significantly lower than SPMO's 30.81% return. Over the past 10 years, LUG.TO has outperformed SPMO with an annualized return of 32.69%, while SPMO has yielded a comparatively lower 21.90% annualized return.

LUG.TO

1D
1.08%
1M
-14.30%
YTD
-26.40%
6M
-24.67%
1Y
17.51%
3Y*
79.74%
5Y*
53.19%
10Y*
32.69%

SPMO

1D
1.49%
1M
6.37%
YTD
30.81%
6M
30.60%
1Y
46.76%
3Y*
43.67%
5Y*
27.13%
10Y*
21.90%
*Multi-year figures are annualized to reflect compound growth (CAGR)

LUG.TO vs. SPMO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
LUG.TO
Lundin Gold Inc.		-26.40%291.22%91.60%29.55%30.60%-4.67%31.21%66.93%10.15%-13.88%
SPMO
Invesco S&P 500 Momentum ETF		30.89%20.80%58.16%14.76%-4.78%22.58%25.21%20.74%7.41%19.11%

Correlation

The correlation between LUG.TO and SPMO is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.27

Correlation (3Y)
Calculated over the trailing 3-year period

0.14

Correlation (5Y)
Calculated over the trailing 5-year period

0.15

Correlation (10Y)
Calculated over the trailing 10-year period

0.14

Correlation (All Time)
Calculated using the full available price history since Oct 12, 2015

0.13

The correlation between LUG.TO and SPMO shifts across timeframes, from 0.13 (all time) to 0.27 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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Lundin Gold Inc.

Invesco S&P 500 Momentum ETF

Often compared with LUG.TO:
LUG.TO vs. AEMLUG.TO vs. EGOLUG.TO vs. MAGLUG.TO vs. KGCLUG.TO vs. CGAULUG.TO vs. NVDA.TOLUG.TO vs. KNT.TO
Often compared with SPMO:
SPMO vs. VOOSPMO vs. QQQSPMO vs. SCHGSPMO vs. MTUMSPMO vs. VUGSPMO vs. VFMOSPMO vs. XMMO

Return for Risk

LUG.TO vs. SPMO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
LUG.TO
LUG.TO Risk / Return Rank: 5353
Overall Rank
LUG.TO Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
LUG.TO Sortino Ratio Rank: 5151
Sortino Ratio Rank
LUG.TO Omega Ratio Rank: 5151
Omega Ratio Rank
LUG.TO Calmar Ratio Rank: 5454
Calmar Ratio Rank
LUG.TO Martin Ratio Rank: 5656
Martin Ratio Rank
SPMO
SPMO Risk / Return Rank: 7979
Overall Rank
SPMO Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
SPMO Sortino Ratio Rank: 7878
Sortino Ratio Rank
SPMO Omega Ratio Rank: 8080
Omega Ratio Rank
SPMO Calmar Ratio Rank: 7777
Calmar Ratio Rank
SPMO Martin Ratio Rank: 7878
Martin Ratio Rank
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.

LUG.TO vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lundin Gold Inc. (LUG.TO) 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.

LUG.TOSPMODifference
Sharpe ratioReturn per unit of total volatility
0.32
2.38

-2.07

Sortino ratioReturn per unit of downside risk
0.79
3.17

-2.39

Omega ratioGain probability vs. loss probability

1.10

1.43

-0.33

Calmar ratioReturn relative to maximum drawdown

0.46

3.63

-3.16

Martin ratioReturn relative to average drawdown

1.23

12.12

-10.89

LUG.TO vs. SPMO - Sharpe Ratio Comparison

The current LUG.TO Sharpe Ratio is 0.32, which is lower than the SPMO Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of LUG.TO 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.

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Drawdowns

LUG.TO vs. SPMO - Drawdown Comparison

The maximum LUG.TO drawdown since its inception was -94.74%, which is greater than SPMO's maximum drawdown of -26.80%. Use the drawdown chart below to compare losses from any high point for LUG.TO and SPMO.

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Drawdown Indicators

LUG.TOSPMODifference

Max Drawdown

Largest peak-to-trough decline

-94.74%

-26.80%

-67.94%

Max Drawdown (1Y)

Largest decline over 1 year

-37.89%

-12.95%

-24.94%

Max Drawdown (3Y)

Largest decline over 3 years

-37.89%

-21.35%

-16.54%

Max Drawdown (5Y)

Largest decline over 5 years

-38.94%

-21.43%

-17.51%

Max Drawdown (10Y)

Largest decline over 10 years

-41.84%

-26.80%

-15.04%

Current Drawdown

Current decline from peak

-34.73%

-0.73%

-34.00%

Average Drawdown

Average peak-to-trough decline

-67.67%

-4.16%

-63.51%

Ulcer Index

Depth and duration of drawdowns from previous peaks

14.24%

3.87%

+10.37%

Volatility

LUG.TO vs. SPMO - Volatility Comparison

Lundin Gold Inc. (LUG.TO) has a higher volatility of 17.86% compared to Invesco S&P 500 Momentum ETF (SPMO) at 10.32%. This indicates that LUG.TO'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.

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Volatility by Period

LUG.TOSPMODifference

Volatility (1M)

Calculated over the trailing 1-month period

17.86%

10.32%

+7.54%

Volatility (6M)

Calculated over the trailing 6-month period

42.07%

16.96%

+25.11%

Volatility (1Y)

Calculated over the trailing 1-year period

55.97%

19.72%

+36.25%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

46.54%

20.54%

+26.00%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

43.40%

21.56%

+21.84%

Dividends

LUG.TO vs. SPMO - Dividend Comparison

LUG.TO's dividend yield for the trailing twelve months is around 6.79%, more than SPMO's 0.67% yield.

PositionTTM20252024202320222021202020192018201720162015
LUG.TO
Lundin Gold Inc.		6.79%3.35%2.69%3.26%1.97%0.00%0.00%0.00%0.00%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

LUG.TO and SPMO have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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