NOW vs. SPMO

Last updated Jun 13, 2026

NOW (ServiceNow, 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, NOW returned 21.48%/yr vs 20.86%/yr for SPMO. At a 0.49 correlation, their price movements are largely independent.

Performance

NOW vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ServiceNow, Inc (NOW) 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, NOW achieves a -33.32% return, which is significantly lower than SPMO's 28.15% return. Both investments have delivered pretty close results over the past 10 years, with NOW having a 21.48% annualized return and SPMO not far behind at 20.86%.

NOW

• 1D: -0.90%
• 1M: 12.87%
• YTD: -33.32%
• 6M: -40.96%
• 1Y: -48.34%
• 3Y*: -2.72%
• 5Y*: 0.51%
• 10Y*: 21.48%

SPMO

• 1D: 1.26%
• 1M: 3.36%
• YTD: 28.15%
• 6M: 28.70%
• 1Y: 44.90%
• 3Y*: 41.53%
• 5Y*: 23.50%
• 10Y*: 20.86%

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

NOW vs. SPMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NOW ServiceNow, Inc	-33.32%	-27.75%	50.05%	81.96%	-40.18%	17.93%	94.97%	58.56%	36.55%	75.40%
SPMO Invesco S&P 500 Momentum ETF	28.15%	26.58%	45.82%	17.56%	-10.45%	22.64%	28.25%	25.93%	-0.92%	27.76%

Correlation

The correlation between NOW and SPMO is 0.07, 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	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.48
Correlation (10Y) Calculated over the trailing 10-year period	0.52
Correlation (All Time) Calculated using the full available price history since Oct 12, 2015	0.49

Over the past year, the correlation between NOW and SPMO has dropped to 0.07 - well below their long-term average of 0.49, suggesting their price drivers have been diverging.

Return for Risk

NOW vs. SPMO — Risk / Return Rank

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

NOW

NOW Risk / Return Rank: 8
NOW Sharpe Ratio Rank: 5
NOW Sortino Ratio Rank: 7
NOW Omega Ratio Rank: 7
NOW Calmar Ratio Rank: 11
NOW Martin Ratio Rank: 8

SPMO

SPMO Risk / Return Rank: 79
SPMO Sharpe Ratio Rank: 81
SPMO Sortino Ratio Rank: 78
SPMO Omega Ratio Rank: 80
SPMO Calmar Ratio Rank: 77
SPMO Martin Ratio Rank: 78

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.

NOW vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ServiceNow, Inc (NOW) 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.

	NOW	SPMO	Difference
Sharpe ratio: Return per unit of total volatility	-0.99	2.24	-3.23
Sortino ratio: Return per unit of downside risk	-1.44	2.98	-4.43
Omega ratio: Gain probability vs. loss probability	0.82	1.41	-0.59
Calmar ratio: Return relative to maximum drawdown	-0.82	3.44	-4.26
Martin ratio: Return relative to average drawdown	-1.45	13.01	-14.46

NOW vs. SPMO - Sharpe Ratio Comparison

The current NOW Sharpe Ratio is -0.99, which is lower than the SPMO Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of NOW 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.

Drawdowns

NOW vs. SPMO - Drawdown Comparison

The maximum NOW drawdown since its inception was -64.54%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for NOW and SPMO.

Drawdown Indicators

	NOW	SPMO	Difference
Max Drawdown Largest peak-to-trough decline	-64.54%	-30.95%	-33.59%
Max Drawdown (1Y) Largest decline over 1 year	-60.28%	-12.70%	-47.58%
Max Drawdown (3Y) Largest decline over 3 years	-64.54%	-20.13%	-44.41%
Max Drawdown (5Y) Largest decline over 5 years	-64.54%	-22.74%	-41.80%
Max Drawdown (10Y) Largest decline over 10 years	-64.54%	-30.95%	-33.59%
Current Drawdown Current decline from peak	-56.36%	-1.68%	-54.68%
Average Drawdown Average peak-to-trough decline	-13.78%	-4.60%	-9.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.02%	3.35%	+30.67%

Volatility

NOW vs. SPMO - Volatility Comparison

ServiceNow, Inc (NOW) has a higher volatility of 25.56% compared to Invesco S&P 500 Momentum ETF (SPMO) at 10.29%. This indicates that NOW'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.

Volatility by Period

	NOW	SPMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.56%	10.29%	+15.27%
Volatility (6M) Calculated over the trailing 6-month period	47.01%	16.73%	+30.28%
Volatility (1Y) Calculated over the trailing 1-year period	50.12%	19.48%	+30.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.44%	19.65%	+23.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.86%	20.48%	+20.38%

Dividends

NOW vs. SPMO - Dividend Comparison

NOW has not paid dividends to shareholders, while SPMO's dividend yield for the trailing twelve months is around 0.67%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NOW ServiceNow, Inc	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	0.67%	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

Can I hold both NOW and SPMO in my portfolio?

NOW and SPMO have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NOW or SPMO?

NOW has higher volatility (25.56%) compared to SPMO (10.29%). In terms of maximum drawdown, NOW dropped -64.54% vs SPMO's -30.95%.

Which has better risk-adjusted returns?

SPMO currently has the higher Sharpe Ratio (2.24 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.