PWC vs. SPMO

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco Dynamic Market ETF (PWC) and Invesco S&P 500 Momentum ETF (SPMO).

PWC and SPMO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PWC is a passively managed fund by Invesco that tracks the performance of the Dynamic Market Intellidex Index. It was launched on May 1, 2003. SPMO is a passively managed fund by Invesco that tracks the performance of the S&P 500 Momentum Index. It was launched on Oct 9, 2015. Both PWC and SPMO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

PWC vs. SPMO - Performance Comparison

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

PWC vs. SPMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PWC Invesco Dynamic Market ETF	2.60%	6.15%	17.46%	19.03%	-16.01%	19.38%	8.52%	13.47%	-6.40%	20.16%
SPMO Invesco S&P 500 Momentum ETF	-5.78%	26.58%	45.82%	17.56%	-10.45%	22.64%	28.25%	25.93%	-0.92%	27.76%

Returns By Period

In the year-to-date period, PWC achieves a 2.60% return, which is significantly higher than SPMO's -5.78% return. Over the past 10 years, PWC has underperformed SPMO with an annualized return of 9.15%, while SPMO has yielded a comparatively higher 17.16% annualized return.

PWC

• 1D: 1.17%
• 1M: -5.11%
• YTD: 2.60%
• 6M: 2.73%
• 1Y: 6.46%
• 3Y*: 12.67%
• 5Y*: 6.65%
• 10Y*: 9.15%

SPMO

• 1D: 3.96%
• 1M: -5.89%
• YTD: -5.78%
• 6M: -6.90%
• 1Y: 22.23%
• 3Y*: 28.36%
• 5Y*: 17.17%
• 10Y*: 17.16%

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

PWC vs. SPMO - Expense Ratio Comparison

PWC has a 0.60% expense ratio, which is higher than SPMO's 0.13% expense ratio.

PWC

Invesco Dynamic Market ETF

SPMO

Invesco S&P 500 Momentum ETF

Return for Risk

PWC vs. SPMO — Risk / Return Rank

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

PWC

PWC Risk / Return Rank: 29
PWC Sharpe Ratio Rank: 26
PWC Sortino Ratio Rank: 26
PWC Omega Ratio Rank: 26
PWC Calmar Ratio Rank: 29
PWC Martin Ratio Rank: 35

SPMO

SPMO Risk / Return Rank: 66
SPMO Sharpe Ratio Rank: 59
SPMO Sortino Ratio Rank: 62
SPMO Omega Ratio Rank: 65
SPMO Calmar Ratio Rank: 74
SPMO Martin Ratio Rank: 68

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.

PWC vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Market ETF (PWC) 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.

	PWC	SPMO	Difference
Sharpe ratio Return per unit of total volatility	0.46	0.98	-0.53
Sortino ratio Return per unit of downside risk	0.74	1.51	-0.77
Omega ratio Gain probability vs. loss probability	1.10	1.22	-0.12
Calmar ratio Return relative to maximum drawdown	0.70	1.79	-1.08
Martin ratio Return relative to average drawdown	3.23	6.36	-3.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PWC vs. SPMO - Sharpe Ratio Comparison

The current PWC Sharpe Ratio is 0.46, which is lower than the SPMO Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of PWC and SPMO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PWC	SPMO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.46	0.98	-0.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	0.91	-0.50
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.86	-0.37
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	0.85	-0.74

Correlation

The correlation between PWC and SPMO is 0.65, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

PWC vs. SPMO - Dividend Comparison

PWC's dividend yield for the trailing twelve months is around 1.73%, more than SPMO's 0.91% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PWC Invesco Dynamic Market ETF	1.73%	1.77%	1.58%	1.67%	1.51%	0.56%	1.09%	0.95%	1.44%	1.75%	1.35%	1.02%
SPMO Invesco S&P 500 Momentum ETF	0.91%	0.73%	0.48%	1.63%	1.66%	0.52%	1.27%	1.39%	1.05%	0.77%	1.94%	0.36%

Drawdowns

PWC vs. SPMO - Drawdown Comparison

The maximum PWC drawdown since its inception was -78.13%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for PWC and SPMO.

Drawdown Indicators

	PWC	SPMO	Difference
Max Drawdown Largest peak-to-trough decline	-78.13%	-30.95%	-47.18%
Max Drawdown (1Y) Largest decline over 1 year	-11.26%	-12.70%	+1.44%
Max Drawdown (5Y) Largest decline over 5 years	-26.58%	-22.74%	-3.84%
Max Drawdown (10Y) Largest decline over 10 years	-39.45%	-30.95%	-8.50%
Current Drawdown Current decline from peak	-5.36%	-9.24%	+3.88%
Average Drawdown Average peak-to-trough decline	-36.46%	-4.66%	-31.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.45%	3.57%	-1.12%

Volatility

PWC vs. SPMO - Volatility Comparison

The current volatility for Invesco Dynamic Market ETF (PWC) is 3.07%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 6.82%. This indicates that PWC 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

	PWC	SPMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.07%	6.82%	-3.75%
Volatility (6M) Calculated over the trailing 6-month period	7.37%	12.62%	-5.25%
Volatility (1Y) Calculated over the trailing 1-year period	14.30%	22.68%	-8.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.29%	19.06%	-2.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.84%	20.08%	-1.24%