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NERD vs. SPMO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

NERD vs. SPMO

Last updated Jun 5, 2026

NERD (Roundhill Video Games ETF) and SPMO (Invesco S&P 500 Momentum ETF) are both exchange-traded funds - NERD is a Gaming fund actively managed by Roundhill Investments, while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. NERD is actively managed, while SPMO is passively managed. Over the past 5 years, NERD returned -7.88%/yr vs 23.92%/yr for SPMO. A 0.57 correlation means they provide meaningful diversification when combined. NERD charges 0.50%/yr vs 0.13%/yr for SPMO.

Performance

NERD vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Video Games ETF (NERD) 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, NERD achieves a -16.41% return, which is significantly lower than SPMO's 28.45% return.

NERD

1D
-0.49%
1M
-3.25%
YTD
-16.41%
6M
-20.08%
1Y
-19.49%
3Y*
10.27%
5Y*
-7.88%
10Y*
—

SPMO

1D
-1.46%
1M
10.84%
YTD
28.45%
6M
27.50%
1Y
43.92%
3Y*
42.27%
5Y*
23.92%
10Y*
20.77%
*Multi-year figures are annualized to reflect compound growth (CAGR)

NERD vs. SPMO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
NERD
Roundhill Video Games ETF		-16.41%23.14%28.52%12.94%-43.30%-17.57%89.66%6.91%
SPMO
Invesco S&P 500 Momentum ETF		28.45%26.58%45.82%17.56%-10.45%22.64%28.25%8.67%

Correlation

The correlation between NERD and SPMO is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.52

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

0.54

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

0.53

Correlation (All Time)
Calculated using the full available price history since Jun 5, 2019

0.57

The correlation between NERD and SPMO has been stable across timeframes, ranging from 0.52 to 0.57 - a consistent structural relationship.

NERD vs. SPMO - Sectors Allocation Comparison

Sectors
NERD
SPMO

Communication Services

91.1%
9.2%

Technology

3.9%
52.6%

Consumer Cyclical

3.9%
1.3%

Industrials

1.2%
11.3%

Financial Services

0.0%
5.9%

Basic Materials

-

1.6%

Consumer Defensive

-

4.3%

Energy

-

3.4%

Healthcare

-

6.7%

Real Estate

-

1.0%

Utilities

-

2.8%

Communication Services

NERD
91.1%
SPMO
9.2%

Technology

NERD
3.9%
SPMO
52.6%

Consumer Cyclical

NERD
3.9%
SPMO
1.3%

Industrials

NERD
1.2%
SPMO
11.3%

Financial Services

NERD
0.0%
SPMO
5.9%

Basic Materials

NERD

-

SPMO
1.6%

Consumer Defensive

NERD

-

SPMO
4.3%

Energy

NERD

-

SPMO
3.4%

Healthcare

NERD

-

SPMO
6.7%

Real Estate

NERD

-

SPMO
1.0%

Utilities

NERD

-

SPMO
2.8%

Compare stocks, funds, or ETFs

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

Roundhill Video Games ETF

Invesco S&P 500 Momentum ETF

Often compared with NERD:
NERD vs. ESPONERD vs. HERONERD vs. METANERD vs. MAGSNERD vs. SBSNERD vs. VOONERD vs. QQQM
Often compared with SPMO:
SPMO vs. VOOSPMO vs. QQQSPMO vs. SCHGSPMO vs. MTUMSPMO vs. VUGSPMO vs. VFMOSPMO vs. XMMO

Return for Risk

NERD vs. SPMO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
NERD
NERD Risk / Return Rank: 22
Overall Rank
NERD Sharpe Ratio Rank: 11
Sharpe Ratio Rank
NERD Sortino Ratio Rank: 22
Sortino Ratio Rank
NERD Omega Ratio Rank: 22
Omega Ratio Rank
NERD Calmar Ratio Rank: 33
Calmar Ratio Rank
NERD Martin Ratio Rank: 33
Martin Ratio Rank
SPMO
SPMO Risk / Return Rank: 7575
Overall Rank
SPMO Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
SPMO Sortino Ratio Rank: 7676
Sortino Ratio Rank
SPMO Omega Ratio Rank: 7575
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.

NERD vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Video Games ETF (NERD) 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.

NERDSPMODifference
Sharpe ratioReturn per unit of total volatility
-0.99
2.49

-3.49

Sortino ratioReturn per unit of downside risk
-1.33
3.38

-4.72

Omega ratioGain probability vs. loss probability

0.85

1.44

-0.60

Calmar ratioReturn relative to maximum drawdown

-0.66

3.47

-4.13

Martin ratioReturn relative to average drawdown

-1.16

13.52

-14.68

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

NERD vs. SPMO - Sharpe Ratio Comparison

The current NERD Sharpe Ratio is -0.99, which is lower than the SPMO Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of NERD 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

NERDSPMODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.99

2.49

-3.49

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.32

1.25

-1.57

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

1.03

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.20

1.00

-0.80

Drawdowns

NERD vs. SPMO - Drawdown Comparison

The maximum NERD drawdown since its inception was -65.58%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for NERD and SPMO.

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Drawdown Indicators

NERDSPMODifference

Max Drawdown

Largest peak-to-trough decline

-65.58%

-30.95%

-34.63%

Max Drawdown (1Y)

Largest decline over 1 year

-29.67%

-12.70%

-16.97%

Max Drawdown (3Y)

Largest decline over 3 years

-29.67%

-20.13%

-9.54%

Max Drawdown (5Y)

Largest decline over 5 years

-58.92%

-22.74%

-36.18%

Max Drawdown (10Y)

Largest decline over 10 years

—

-30.95%

—

Current Drawdown

Current decline from peak

-45.78%

-1.46%

-44.32%

Average Drawdown

Average peak-to-trough decline

-35.90%

-4.60%

-31.30%

Ulcer Index

Depth and duration of drawdowns from previous peaks

16.85%

3.26%

+13.59%

Volatility

NERD vs. SPMO - Volatility Comparison

The current volatility for Roundhill Video Games ETF (NERD) is 3.88%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 7.39%. This indicates that NERD 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

NERDSPMODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.88%

7.39%

-3.51%

Volatility (6M)

Calculated over the trailing 6-month period

14.85%

14.49%

+0.36%

Volatility (1Y)

Calculated over the trailing 1-year period

19.81%

17.70%

+2.11%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

24.51%

19.30%

+5.21%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

25.52%

20.31%

+5.21%

NERD vs. SPMO - Expense Ratio Comparison

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

Dividends

NERD vs. SPMO - Dividend Comparison

NERD's dividend yield for the trailing twelve months is around 0.75%, more than SPMO's 0.66% yield.

PositionTTM20252024202320222021202020192018201720162015
NERD
Roundhill Video Games ETF		0.75%0.63%1.74%1.07%0.69%0.02%1.05%0.31%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

NERD and SPMO have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SPMO has higher volatility (7.39%) compared to NERD (3.88%). In terms of maximum drawdown, NERD dropped -65.58% vs SPMO's -30.95%.

On 5-year performance, SPMO leads with 23.92% vs -7.88% for NERD. On fees, SPMO is cheaper at 0.13% per year. On volatility, NERD has been the lower-risk option at 3.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, SPMO has performed better with a 23.92% return vs -7.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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

NERD has the higher dividend yield at 0.75%, compared with 0.66% for SPMO.

NERD is categorized as Gaming, while SPMO is Momentum. They also come from different issuers: Roundhill Investments and Invesco. Their fees differ too: 0.50% for NERD and 0.13% for SPMO.

SPMO currently has the higher Sharpe Ratio (2.49 vs -0.99), 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.

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