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QVMT vs. SPMO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QVMT vs. SPMO

Last updated Jun 7, 2026

QVMT (Invesco S&P S&P 500 Concentrated QVM ETF) and SPMO (Invesco S&P 500 Momentum ETF) are both exchange-traded funds - QVMT is a S&P 500 fund tracking the S&P 500 Quality, Value & Momentum Multi-factor Index, while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. Both are passively managed. Over the past 10 years, QVMT returned 12.79%/yr vs 20.08%/yr for SPMO. At a 0.49 correlation, their price movements are largely independent. Both charge a 0.13% expense ratio.

Performance

QVMT vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P S&P 500 Concentrated QVM ETF (QVMT) 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, QVMT achieves a 16.07% return, which is significantly lower than SPMO's 21.26% return. Over the past 10 years, QVMT has underperformed SPMO with an annualized return of 12.79%, while SPMO has yielded a comparatively higher 20.08% annualized return.

QVMT

1D
-1.55%
1M
2.67%
YTD
16.07%
6M
18.74%
1Y
32.74%
3Y*
21.89%
5Y*
11.24%
10Y*
12.79%

SPMO

1D
-5.59%
1M
3.58%
YTD
21.26%
6M
20.02%
1Y
36.14%
3Y*
39.63%
5Y*
22.50%
10Y*
20.08%
*Multi-year figures are annualized to reflect compound growth (CAGR)

QVMT vs. SPMO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
QVMT
Invesco S&P S&P 500 Concentrated QVM ETF		16.07%19.08%14.40%11.71%-5.61%35.27%-9.98%28.86%-9.51%18.77%
SPMO
Invesco S&P 500 Momentum ETF		21.26%26.58%45.82%17.56%-10.45%22.64%28.25%25.93%-0.92%27.76%

Correlation

The correlation between QVMT and SPMO is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.43

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

0.43

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

0.58

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

0.50

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

0.49

The correlation between QVMT and SPMO shifts across timeframes, from 0.43 (3 years) to 0.58 (5 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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Invesco S&P S&P 500 Concentrated QVM ETF

Invesco S&P 500 Momentum ETF

Often compared with QVMT:
QVMT vs. SPVMQVMT vs. VOOQVMT vs. PBFRQVMT vs. HIBLQVMT vs. XCLRQVMT vs. SPHQQVMT vs. CPSM
Often compared with SPMO:
SPMO vs. VOOSPMO vs. QQQSPMO vs. SCHGSPMO vs. MTUMSPMO vs. VUGSPMO vs. VFMOSPMO vs. XMMO

Return for Risk

QVMT vs. SPMO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QVMT
QVMT Risk / Return Rank: 8888
Overall Rank
QVMT Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
QVMT Sortino Ratio Rank: 9090
Sortino Ratio Rank
QVMT Omega Ratio Rank: 8383
Omega Ratio Rank
QVMT Calmar Ratio Rank: 9191
Calmar Ratio Rank
QVMT Martin Ratio Rank: 9090
Martin Ratio Rank
SPMO
SPMO Risk / Return Rank: 6161
Overall Rank
SPMO Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
SPMO Sortino Ratio Rank: 5757
Sortino Ratio Rank
SPMO Omega Ratio Rank: 6363
Omega Ratio Rank
SPMO Calmar Ratio Rank: 6161
Calmar Ratio Rank
SPMO Martin Ratio Rank: 6464
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.

QVMT vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P S&P 500 Concentrated QVM ETF (QVMT) 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.

QVMTSPMODifference
Sharpe ratioReturn per unit of total volatility
2.77
2.04

+0.74

Sortino ratioReturn per unit of downside risk
3.93
2.70

+1.23

Omega ratioGain probability vs. loss probability

1.47

1.37

+0.10

Calmar ratioReturn relative to maximum drawdown

5.56

2.98

+2.58

Martin ratioReturn relative to average drawdown

19.73

11.48

+8.25

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

QVMT vs. SPMO - Sharpe Ratio Comparison

The current QVMT Sharpe Ratio is 2.77, which is higher than the SPMO Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of QVMT 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

QVMTSPMODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.77

2.04

+0.74

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.65

1.16

-0.51

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.61

0.99

-0.38

Sharpe Ratio (All Time)

Calculated using the full available price history

0.58

0.97

-0.38

Drawdowns

QVMT vs. SPMO - Drawdown Comparison

The maximum QVMT drawdown since its inception was -48.05%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for QVMT and SPMO.

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Drawdown Indicators

QVMTSPMODifference

Max Drawdown

Largest peak-to-trough decline

-48.05%

-30.95%

-17.10%

Max Drawdown (1Y)

Largest decline over 1 year

-6.25%

-12.70%

+6.45%

Max Drawdown (3Y)

Largest decline over 3 years

-14.42%

-20.13%

+5.71%

Max Drawdown (5Y)

Largest decline over 5 years

-21.95%

-22.74%

+0.79%

Max Drawdown (10Y)

Largest decline over 10 years

-48.05%

-30.95%

-17.10%

Current Drawdown

Current decline from peak

-1.55%

-6.97%

+5.42%

Average Drawdown

Average peak-to-trough decline

-6.34%

-4.60%

-1.74%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.76%

3.29%

-1.53%

Volatility

QVMT vs. SPMO - Volatility Comparison

The current volatility for Invesco S&P S&P 500 Concentrated QVM ETF (QVMT) is 3.36%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 9.33%. This indicates that QVMT 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

QVMTSPMODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.36%

9.33%

-5.97%

Volatility (6M)

Calculated over the trailing 6-month period

9.09%

15.67%

-6.58%

Volatility (1Y)

Calculated over the trailing 1-year period

12.53%

18.61%

-6.08%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.29%

19.46%

-2.17%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.05%

20.39%

+0.66%

QVMT vs. SPMO - Expense Ratio Comparison

Both QVMT and SPMO have an expense ratio of 0.13%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

QVMT vs. SPMO - Dividend Comparison

QVMT's dividend yield for the trailing twelve months is around 2.07%, more than SPMO's 0.70% yield.

PositionTTM20252024202320222021202020192018201720162015
QVMT
Invesco S&P S&P 500 Concentrated QVM ETF		2.07%2.42%2.71%3.05%2.49%2.31%2.70%2.23%2.48%2.37%1.11%0.54%
SPMO
Invesco S&P 500 Momentum ETF		0.70%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

QVMT and SPMO have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SPMO has higher volatility (9.33%) compared to QVMT (3.36%). In terms of maximum drawdown, QVMT dropped -48.05% vs SPMO's -30.95%.

On 10-year performance, SPMO leads with 20.08% vs 12.79% for QVMT. Both ETFs have the same 0.13% expense ratio. On volatility, QVMT has been the lower-risk option at 3.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SPMO has performed better with a 20.08% return vs 12.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QVMT and SPMO have the same expense ratio: 0.13% per year.

QVMT has the higher dividend yield at 2.07%, compared with 0.70% for SPMO.

QVMT is categorized as S&P 500, while SPMO is Momentum. QVMT tracks S&P 500 Quality, Value & Momentum Multi-factor Index, while SPMO tracks S&P 500 Momentum Index.

QVMT currently has the higher Sharpe Ratio (2.77 vs 2.04), 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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