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MLPD.L vs. SPMO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MLPD.L vs. SPMO

Last updated Jun 4, 2026

MLPD.L (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (Dist)) and SPMO (Invesco S&P 500 Momentum ETF) are both exchange-traded funds - MLPD.L is a Energy Equities fund tracking the MSCI World/Energy NR USD, while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. Both are passively managed. Over the past 10 years, MLPD.L returned 7.30%/yr vs 20.95%/yr for SPMO. At a 0.19 correlation, their price movements are largely independent. MLPD.L charges 0.50%/yr vs 0.13%/yr for SPMO.

Performance

MLPD.L vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (Dist) (MLPD.L) and Invesco S&P 500 Momentum ETF (SPMO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, MLPD.L achieves a 19.38% return, which is significantly lower than SPMO's 30.35% return. Over the past 10 years, MLPD.L has underperformed SPMO with an annualized return of 7.30%, while SPMO has yielded a comparatively higher 20.95% annualized return.

MLPD.L

1D
1.11%
1M
0.78%
YTD
19.38%
6M
16.54%
1Y
16.43%
3Y*
19.18%
5Y*
17.42%
10Y*
7.30%

SPMO

1D
0.50%
1M
15.36%
YTD
30.35%
6M
30.51%
1Y
46.00%
3Y*
43.04%
5Y*
24.29%
10Y*
20.95%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MLPD.L vs. SPMO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MLPD.L
Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (Dist)		19.38%2.33%22.53%19.70%31.84%36.86%-31.37%7.22%-14.92%-8.67%
SPMO
Invesco S&P 500 Momentum ETF		30.35%26.58%45.82%17.56%-10.45%22.64%28.25%25.93%-0.92%27.76%

Correlation

The correlation between MLPD.L and SPMO is 0.04, 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

0.04

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

0.14

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

0.23

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

0.20

Correlation (All Time)
Calculated using the full available price history since Oct 13, 2015

0.19

The correlation between MLPD.L and SPMO shifts across timeframes, from 0.04 (1 year) to 0.23 (5 years), reflecting how their relationship changes across market environments.

MLPD.L vs. SPMO - Sectors Allocation Comparison

Sectors
MLPD.L
SPMO

Energy

96.7%
3.4%

Utilities

3.2%
2.8%

Industrials

0.2%
11.3%

Basic Materials

-

1.6%

Communication Services

-

9.2%

Consumer Cyclical

-

1.3%

Consumer Defensive

-

4.3%

Financial Services

-

5.9%

Healthcare

-

6.7%

Real Estate

-

1.0%

Technology

-

52.6%

Energy

MLPD.L
96.7%
SPMO
3.4%

Utilities

MLPD.L
3.2%
SPMO
2.8%

Industrials

MLPD.L
0.2%
SPMO
11.3%

Basic Materials

MLPD.L

-

SPMO
1.6%

Communication Services

MLPD.L

-

SPMO
9.2%

Consumer Cyclical

MLPD.L

-

SPMO
1.3%

Consumer Defensive

MLPD.L

-

SPMO
4.3%

Financial Services

MLPD.L

-

SPMO
5.9%

Healthcare

MLPD.L

-

SPMO
6.7%

Real Estate

MLPD.L

-

SPMO
1.0%

Technology

MLPD.L

-

SPMO
52.6%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (Dist)

Invesco S&P 500 Momentum ETF

Often compared with MLPD.L:
MLPD.L vs. MLPXMLPD.L vs. MLPAMLPD.L vs. TDIV.ASMLPD.L vs. EIPIXMLPD.L vs. JEPQMLPD.L vs. QYLDMLPD.L vs. MAIN
Often compared with SPMO:
SPMO vs. VOOSPMO vs. QQQSPMO vs. SCHGSPMO vs. MTUMSPMO vs. VUGSPMO vs. VFMOSPMO vs. XMMO

Return for Risk

MLPD.L vs. SPMO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MLPD.L
MLPD.L Risk / Return Rank: 3232
Overall Rank
MLPD.L Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
MLPD.L Sortino Ratio Rank: 2929
Sortino Ratio Rank
MLPD.L Omega Ratio Rank: 2828
Omega Ratio Rank
MLPD.L Calmar Ratio Rank: 3939
Calmar Ratio Rank
MLPD.L Martin Ratio Rank: 3232
Martin Ratio Rank
SPMO
SPMO Risk / Return Rank: 7575
Overall Rank
SPMO Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
SPMO Sortino Ratio Rank: 7777
Sortino Ratio Rank
SPMO Omega Ratio Rank: 7777
Omega Ratio Rank
SPMO Calmar Ratio Rank: 7171
Calmar Ratio Rank
SPMO Martin Ratio Rank: 7373
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.

MLPD.L vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (Dist) (MLPD.L) 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.

MLPD.LSPMODifference
Sharpe ratioReturn per unit of total volatility
1.15
2.62

-1.47

Sortino ratioReturn per unit of downside risk
1.62
3.54

-1.92

Omega ratioGain probability vs. loss probability

1.20

1.47

-0.27

Calmar ratioReturn relative to maximum drawdown

1.93

3.64

-1.71

Martin ratioReturn relative to average drawdown

4.95

14.17

-9.21

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MLPD.L vs. SPMO - Sharpe Ratio Comparison

The current MLPD.L Sharpe Ratio is 1.15, which is lower than the SPMO Sharpe Ratio of 2.62. The chart below compares the historical Sharpe Ratios of MLPD.L 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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Sharpe Ratios by Period

MLPD.LSPMODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.15

2.62

-1.47

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.85

1.27

-0.41

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.26

1.03

-0.78

Sharpe Ratio (All Time)

Calculated using the full available price history

0.15

1.01

-0.86

Drawdowns

MLPD.L vs. SPMO - Drawdown Comparison

The maximum MLPD.L drawdown since its inception was -82.22%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for MLPD.L and SPMO.

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Drawdown Indicators

MLPD.LSPMODifference

Max Drawdown

Largest peak-to-trough decline

-82.22%

-30.95%

-51.27%

Max Drawdown (1Y)

Largest decline over 1 year

-8.49%

-12.70%

+4.21%

Max Drawdown (3Y)

Largest decline over 3 years

-17.23%

-20.13%

+2.90%

Max Drawdown (5Y)

Largest decline over 5 years

-21.78%

-22.74%

+0.96%

Max Drawdown (10Y)

Largest decline over 10 years

-75.74%

-30.95%

-44.79%

Current Drawdown

Current decline from peak

-2.71%

0.00%

-2.71%

Average Drawdown

Average peak-to-trough decline

-28.24%

-4.60%

-23.64%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.31%

3.26%

+0.05%

Volatility

MLPD.L vs. SPMO - Volatility Comparison

The current volatility for Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (Dist) (MLPD.L) is 5.23%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 7.35%. This indicates that MLPD.L 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.

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Volatility by Period

MLPD.LSPMODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.23%

7.35%

-2.12%

Volatility (6M)

Calculated over the trailing 6-month period

10.96%

14.39%

-3.43%

Volatility (1Y)

Calculated over the trailing 1-year period

14.23%

17.64%

-3.41%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.38%

19.30%

+1.08%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

28.35%

20.31%

+8.04%

MLPD.L vs. SPMO - Expense Ratio Comparison

MLPD.L has a 0.50% expense ratio, which is higher than SPMO's 0.13% expense ratio.

Dividends

MLPD.L vs. SPMO - Dividend Comparison

MLPD.L's dividend yield for the trailing twelve months is around 7.53%, more than SPMO's 0.65% yield.

PositionTTM20252024202320222021202020192018201720162015
MLPD.L
Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (Dist)		7.53%8.21%8.18%8.60%7.98%8.57%11.03%10.06%9.87%8.15%8.14%9.96%
SPMO
Invesco S&P 500 Momentum ETF		0.65%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

MLPD.L and SPMO have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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.

SPMO is cheaper with a 0.13% expense ratio, compared with 0.50% for MLPD.L.

MLPD.L is categorized as Energy Equities, while SPMO is Momentum. MLPD.L tracks MSCI World/Energy NR USD, while SPMO tracks S&P 500 Momentum Index. Their fees differ too: 0.50% for MLPD.L and 0.13% for SPMO.

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