QIF.NEO vs. SPMO

Last updated Jun 24, 2026

QIF.NEO (AGF Systematic Global Infrastructure ETF) and SPMO (Invesco S&P 500 Momentum ETF) are both exchange-traded funds - QIF.NEO is a Industrials Equities fund actively managed by AGF, while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. QIF.NEO is actively managed, while SPMO is passively managed. Over the past 5 years, QIF.NEO returned 12.26%/yr vs 26.39%/yr for SPMO. At a 0.34 correlation, their price movements are largely independent. QIF.NEO charges 0.45%/yr vs 0.13%/yr for SPMO.

Performance

QIF.NEO vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in AGF Systematic Global Infrastructure ETF (QIF.NEO) and Invesco S&P 500 Momentum ETF (SPMO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

QIF.NEO is traded in CAD, while SPMO is traded in USD. To make them comparable, the SPMO values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, QIF.NEO achieves a 15.29% return, which is significantly lower than SPMO's 34.31% return.

QIF.NEO

• 1D: 0.39%
• 1M: 1.22%
• YTD: 15.29%
• 6M: 15.33%
• 1Y: 24.41%
• 3Y*: 18.40%
• 5Y*: 12.26%
• 10Y*: —

SPMO

• 1D: -4.64%
• 1M: 9.61%
• YTD: 34.31%
• 6M: 31.95%
• 1Y: 47.93%
• 3Y*: 46.04%
• 5Y*: 26.39%
• 10Y*: 22.23%

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

QIF.NEO vs. SPMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
QIF.NEO AGF Systematic Global Infrastructure ETF	15.29%	14.80%	21.37%	4.72%	-2.67%	20.54%	-8.96%	20.89%	5.27%
SPMO Invesco S&P 500 Momentum ETF	34.31%	20.80%	58.16%	14.76%	-4.78%	22.58%	25.21%	20.74%	7.63%

Correlation

The correlation between QIF.NEO and SPMO is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (All Time) Calculated using the full available price history since Feb 12, 2018	0.34

Return for Risk

QIF.NEO vs. SPMO — Risk / Return Rank

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

QIF.NEO

QIF.NEO Risk / Return Rank: 86
QIF.NEO Sharpe Ratio Rank: 87
QIF.NEO Sortino Ratio Rank: 86
QIF.NEO Omega Ratio Rank: 86
QIF.NEO Calmar Ratio Rank: 91
QIF.NEO Martin Ratio Rank: 80

SPMO

SPMO Risk / Return Rank: 68
SPMO Sharpe Ratio Rank: 68
SPMO Sortino Ratio Rank: 62
SPMO Omega Ratio Rank: 69
SPMO Calmar Ratio Rank: 71
SPMO Martin Ratio Rank: 71

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.

QIF.NEO vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AGF Systematic Global Infrastructure ETF (QIF.NEO) 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.

	QIF.NEO	SPMO	Difference
Sharpe ratio: Return per unit of total volatility	2.56	2.32	+0.24
Sortino ratio: Return per unit of downside risk	3.52	3.05	+0.46
Omega ratio: Gain probability vs. loss probability	1.48	1.42	+0.06
Calmar ratio: Return relative to maximum drawdown	5.27	3.72	+1.55
Martin ratio: Return relative to average drawdown	14.52	12.39	+2.13

QIF.NEO vs. SPMO - Sharpe Ratio Comparison

The current QIF.NEO Sharpe Ratio is 2.56, which is comparable to the SPMO Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of QIF.NEO 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

QIF.NEO vs. SPMO - Drawdown Comparison

The maximum QIF.NEO drawdown since its inception was -30.71%, which is greater than SPMO's maximum drawdown of -26.80%. Use the drawdown chart below to compare losses from any high point for QIF.NEO and SPMO.

Drawdown Indicators

	QIF.NEO	SPMO	Difference
Max Drawdown Largest peak-to-trough decline	-30.71%	-26.80%	-3.91%
Max Drawdown (1Y) Largest decline over 1 year	-4.67%	-12.95%	+8.28%
Max Drawdown (3Y) Largest decline over 3 years	-10.29%	-21.35%	+11.06%
Max Drawdown (5Y) Largest decline over 5 years	-15.54%	-21.43%	+5.89%
Max Drawdown (10Y) Largest decline over 10 years	—	-26.80%	—
Current Drawdown Current decline from peak	0.00%	-4.64%	+4.64%
Average Drawdown Average peak-to-trough decline	-4.36%	-4.16%	-0.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.69%	3.88%	-2.19%

Volatility

QIF.NEO vs. SPMO - Volatility Comparison

The current volatility for AGF Systematic Global Infrastructure ETF (QIF.NEO) is 3.05%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 12.04%. This indicates that QIF.NEO 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

	QIF.NEO	SPMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.05%	12.04%	-8.99%
Volatility (6M) Calculated over the trailing 6-month period	7.68%	18.11%	-10.43%
Volatility (1Y) Calculated over the trailing 1-year period	9.65%	20.86%	-11.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.66%	20.77%	-9.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.81%	21.70%	-6.89%

QIF.NEO vs. SPMO - Expense Ratio Comparison

QIF.NEO has a 0.45% expense ratio, which is higher than SPMO's 0.13% expense ratio.

Dividends

QIF.NEO vs. SPMO - Dividend Comparison

QIF.NEO's dividend yield for the trailing twelve months is around 4.99%, more than SPMO's 0.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QIF.NEO AGF Systematic Global Infrastructure ETF	4.99%	5.32%	4.60%	3.61%	3.22%	3.05%	3.12%	3.16%	2.24%	0.00%	0.00%	0.00%
SPMO Invesco S&P 500 Momentum ETF	0.68%	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 QIF.NEO and SPMO in my portfolio?

QIF.NEO and SPMO have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QIF.NEO 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, QIF.NEO or SPMO?

SPMO is cheaper with a 0.13% expense ratio, compared with 0.45% for QIF.NEO.

What is the main difference between QIF.NEO and SPMO?

QIF.NEO is categorized as Industrials Equities, while SPMO is Momentum. They also come from different issuers: AGF and Invesco. Their fees differ too: 0.45% for QIF.NEO and 0.13% for SPMO.