MJMT.DE vs. SPMO

Last updated Jun 5, 2026

MJMT.DE (Amundi MSCI Europe Momentum Factor UCITS ETF EUR) and SPMO (Invesco S&P 500 Momentum ETF) are both Momentum funds - MJMT.DE tracks the MSCI Europe Momentum Index while SPMO tracks the S&P 500 Momentum Index. Both are passively managed. Over the past 5 years, MJMT.DE returned 11.41%/yr vs 25.07%/yr for SPMO. At a 0.43 correlation, their price movements are largely independent. MJMT.DE charges 0.23%/yr vs 0.13%/yr for SPMO.

Performance

MJMT.DE vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Amundi MSCI Europe Momentum Factor UCITS ETF EUR (MJMT.DE) and Invesco S&P 500 Momentum ETF (SPMO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

MJMT.DE is traded in EUR, while SPMO is traded in USD. To make them comparable, the SPMO values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, MJMT.DE achieves a 8.02% return, which is significantly lower than SPMO's 29.91% return.

MJMT.DE

• 1D: 0.03%
• 1M: 2.82%
• YTD: 8.02%
• 6M: 11.57%
• 1Y: 17.54%
• 3Y*: 20.41%
• 5Y*: 11.41%
• 10Y*: —

SPMO

• 1D: -1.59%
• 1M: 11.58%
• YTD: 29.91%
• 6M: 27.84%
• 1Y: 41.51%
• 3Y*: 38.49%
• 5Y*: 25.07%
• 10Y*: 20.51%

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

MJMT.DE vs. SPMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MJMT.DE Amundi MSCI Europe Momentum Factor UCITS ETF EUR	8.02%	27.24%	19.93%	13.04%	-15.57%	22.09%	10.97%	31.75%	-10.54%	11.30%
SPMO Invesco S&P 500 Momentum ETF	29.91%	11.56%	55.44%	14.03%	-4.90%	31.82%	17.68%	28.77%	3.73%	12.06%

Correlation

The correlation between MJMT.DE and SPMO is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (5Y) Calculated over the trailing 5-year period	0.40
Correlation (All Time) Calculated using the full available price history since Jul 13, 2016	0.43

Return for Risk

MJMT.DE vs. SPMO — Risk / Return Rank

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

MJMT.DE

MJMT.DE Risk / Return Rank: 31
MJMT.DE Sharpe Ratio Rank: 29
MJMT.DE Sortino Ratio Rank: 30
MJMT.DE Omega Ratio Rank: 29
MJMT.DE Calmar Ratio Rank: 31
MJMT.DE Martin Ratio Rank: 37

SPMO

SPMO Risk / Return Rank: 75
SPMO Sharpe Ratio Rank: 78
SPMO Sortino Ratio Rank: 76
SPMO Omega Ratio Rank: 75
SPMO Calmar Ratio Rank: 71
SPMO Martin Ratio Rank: 73

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.

MJMT.DE vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi MSCI Europe Momentum Factor UCITS ETF EUR (MJMT.DE) 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.

	MJMT.DE	SPMO	Difference
Sharpe ratio: Return per unit of total volatility	1.03	2.35	-1.32
Sortino ratio: Return per unit of downside risk	1.60	3.06	-1.46
Omega ratio: Gain probability vs. loss probability	1.19	1.41	-0.22
Calmar ratio: Return relative to maximum drawdown	1.51	3.59	-2.08
Martin ratio: Return relative to average drawdown	5.64	11.70	-6.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MJMT.DE vs. SPMO - Sharpe Ratio Comparison

The current MJMT.DE Sharpe Ratio is 1.03, which is lower than the SPMO Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of MJMT.DE 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

	MJMT.DE	SPMO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.03	2.35	-1.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	1.29	-0.60
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.99	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.96	-0.25

Drawdowns

MJMT.DE vs. SPMO - Drawdown Comparison

The maximum MJMT.DE drawdown since its inception was -31.35%, roughly equal to the maximum SPMO drawdown of -32.02%. Use the drawdown chart below to compare losses from any high point for MJMT.DE and SPMO.

Drawdown Indicators

	MJMT.DE	SPMO	Difference
Max Drawdown Largest peak-to-trough decline	-31.35%	-32.02%	+0.67%
Max Drawdown (1Y) Largest decline over 1 year	-11.56%	-11.63%	+0.07%
Max Drawdown (3Y) Largest decline over 3 years	-15.62%	-25.02%	+9.40%
Max Drawdown (5Y) Largest decline over 5 years	-23.84%	-25.02%	+1.18%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.02%	—
Current Drawdown Current decline from peak	-1.36%	-1.59%	+0.23%
Average Drawdown Average peak-to-trough decline	-5.33%	-4.51%	-0.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.10%	3.56%	-0.46%

Volatility

MJMT.DE vs. SPMO - Volatility Comparison

The current volatility for Amundi MSCI Europe Momentum Factor UCITS ETF EUR (MJMT.DE) is 4.49%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 6.79%. This indicates that MJMT.DE 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

	MJMT.DE	SPMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.49%	6.79%	-2.30%
Volatility (6M) Calculated over the trailing 6-month period	14.45%	13.70%	+0.75%
Volatility (1Y) Calculated over the trailing 1-year period	16.95%	17.73%	-0.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.32%	19.48%	-3.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.24%	20.88%	-4.64%

MJMT.DE vs. SPMO - Expense Ratio Comparison

MJMT.DE has a 0.23% 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

MJMT.DE vs. SPMO - Dividend Comparison

MJMT.DE has not paid dividends to shareholders, while SPMO's dividend yield for the trailing twelve months is around 0.66%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MJMT.DE Amundi MSCI Europe Momentum Factor UCITS ETF EUR	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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 MJMT.DE and SPMO in my portfolio?

MJMT.DE and SPMO have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MJMT.DE or SPMO?

On fees, SPMO is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MJMT.DE or SPMO?

SPMO is cheaper with a 0.13% expense ratio, compared with 0.23% for MJMT.DE.

What is the main difference between MJMT.DE and SPMO?

MJMT.DE tracks MSCI Europe Momentum Index, while SPMO tracks S&P 500 Momentum Index. They also come from different issuers: Amundi and Invesco. Their fees differ too: 0.23% for MJMT.DE and 0.13% for SPMO.