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RBLD vs. SPMO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

RBLD vs. SPMO

Last updated Jun 23, 2026

RBLD (First Trust Alerian U.S. NextGen Infrastructure ETF) and SPMO (Invesco S&P 500 Momentum ETF) are both exchange-traded funds - RBLD is a Industrials Equities fund tracking the Alerian US NextGen Infrastructure Index - Benchmark TR Net, while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. Both are passively managed. Over the past 10 years, RBLD returned 9.29%/yr vs 21.59%/yr for SPMO. A 0.57 correlation means they provide meaningful diversification when combined. RBLD charges 0.65%/yr vs 0.13%/yr for SPMO.

Performance

RBLD vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Alerian U.S. NextGen Infrastructure ETF (RBLD) 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, RBLD achieves a 21.51% return, which is significantly lower than SPMO's 36.08% return. Over the past 10 years, RBLD has underperformed SPMO with an annualized return of 9.29%, while SPMO has yielded a comparatively higher 21.59% annualized return.

RBLD

1D
0.76%
1M
2.69%
YTD
21.51%
6M
20.56%
1Y
31.69%
3Y*
22.35%
5Y*
12.36%
10Y*
9.29%

SPMO

1D
1.26%
1M
11.71%
YTD
36.08%
6M
35.05%
1Y
52.78%
3Y*
44.69%
5Y*
24.25%
10Y*
21.59%
*Multi-year figures are annualized to reflect compound growth (CAGR)

RBLD vs. SPMO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
RBLD
First Trust Alerian U.S. NextGen Infrastructure ETF		21.51%13.99%17.94%19.36%-9.87%12.98%0.51%12.81%-21.72%22.95%
SPMO
Invesco S&P 500 Momentum ETF		36.08%26.58%45.82%17.56%-10.45%22.64%28.25%25.93%-0.92%27.76%

Correlation

The correlation between RBLD and SPMO is 0.63, 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

0.63

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

0.65

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

0.70

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

0.60

Correlation (All Time)
Calculated using the full available price history since Oct 12, 2015

0.57

The correlation between RBLD and SPMO shifts across timeframes, from 0.57 (all time) to 0.70 (5 years), reflecting how their relationship changes across market environments.

RBLD vs. SPMO - Sectors Allocation Comparison

Sectors
RBLD
SPMO

Industrials

40.4%
10.9%

Utilities

27.6%
2.6%

Technology

11.8%
56.8%

Energy

8.7%
2.8%

Basic Materials

6.6%
1.5%

Real Estate

4.9%
0.9%

Communication Services

1.0%
8.0%

Consumer Cyclical

-

1.1%

Consumer Defensive

-

3.8%

Financial Services

-

5.8%

Healthcare

-

5.9%

Industrials

RBLD
40.4%
SPMO
10.9%

Utilities

RBLD
27.6%
SPMO
2.6%

Technology

RBLD
11.8%
SPMO
56.8%

Energy

RBLD
8.7%
SPMO
2.8%

Basic Materials

RBLD
6.6%
SPMO
1.5%

Real Estate

RBLD
4.9%
SPMO
0.9%

Communication Services

RBLD
1.0%
SPMO
8.0%

Consumer Cyclical

RBLD

-

SPMO
1.1%

Consumer Defensive

RBLD

-

SPMO
3.8%

Financial Services

RBLD

-

SPMO
5.8%

Healthcare

RBLD

-

SPMO
5.9%

Compare stocks, funds, or ETFs

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

First Trust Alerian U.S. NextGen Infrastructure ETF

Invesco S&P 500 Momentum ETF

Often compared with RBLD:
RBLD vs. AIPORBLD vs. GRIDRBLD vs. UTESRBLD vs. QGRWRBLD vs. PAVERBLD vs. GABFRBLD vs. VIS
Often compared with SPMO:
SPMO vs. VOOSPMO vs. QQQSPMO vs. SCHGSPMO vs. MTUMSPMO vs. VUGSPMO vs. VFMOSPMO vs. XMMO

Return for Risk

RBLD vs. SPMO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
RBLD
RBLD Risk / Return Rank: 7575
Overall Rank
RBLD Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
RBLD Sortino Ratio Rank: 7171
Sortino Ratio Rank
RBLD Omega Ratio Rank: 6767
Omega Ratio Rank
RBLD Calmar Ratio Rank: 8484
Calmar Ratio Rank
RBLD Martin Ratio Rank: 7979
Martin Ratio Rank
SPMO
SPMO Risk / Return Rank: 8383
Overall Rank
SPMO Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
SPMO Sortino Ratio Rank: 8181
Sortino Ratio Rank
SPMO Omega Ratio Rank: 8383
Omega Ratio Rank
SPMO Calmar Ratio Rank: 8282
Calmar Ratio Rank
SPMO Martin Ratio Rank: 8282
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.

RBLD vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Alerian U.S. NextGen Infrastructure ETF (RBLD) 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.

RBLDSPMODifference
Sharpe ratioReturn per unit of total volatility
2.29
2.65

-0.36

Sortino ratioReturn per unit of downside risk
3.07
3.46

-0.39

Omega ratioGain probability vs. loss probability

1.38

1.48

-0.09

Calmar ratioReturn relative to maximum drawdown

4.43

4.18

+0.25

Martin ratioReturn relative to average drawdown

15.05

15.78

-0.73

RBLD vs. SPMO - Sharpe Ratio Comparison

The current RBLD Sharpe Ratio is 2.29, which is comparable to the SPMO Sharpe Ratio of 2.65. The chart below compares the historical Sharpe Ratios of RBLD 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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Drawdowns

RBLD vs. SPMO - Drawdown Comparison

The maximum RBLD drawdown since its inception was -50.07%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for RBLD and SPMO.

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Drawdown Indicators

RBLDSPMODifference

Max Drawdown

Largest peak-to-trough decline

-50.07%

-30.95%

-19.12%

Max Drawdown (1Y)

Largest decline over 1 year

-7.19%

-12.70%

+5.51%

Max Drawdown (3Y)

Largest decline over 3 years

-19.14%

-20.13%

+0.99%

Max Drawdown (5Y)

Largest decline over 5 years

-22.54%

-22.74%

+0.20%

Max Drawdown (10Y)

Largest decline over 10 years

-50.07%

-30.95%

-19.12%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-10.82%

-4.59%

-6.23%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.11%

3.35%

-1.24%

Volatility

RBLD vs. SPMO - Volatility Comparison

The current volatility for First Trust Alerian U.S. NextGen Infrastructure ETF (RBLD) is 4.68%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 10.55%. This indicates that RBLD 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

RBLDSPMODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.68%

10.55%

-5.87%

Volatility (6M)

Calculated over the trailing 6-month period

10.76%

17.11%

-6.35%

Volatility (1Y)

Calculated over the trailing 1-year period

13.91%

20.05%

-6.14%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.84%

19.77%

-2.93%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.69%

20.55%

-1.86%

RBLD vs. SPMO - Expense Ratio Comparison

RBLD has a 0.65% expense ratio, which is higher than SPMO's 0.13% expense ratio.

Dividends

RBLD vs. SPMO - Dividend Comparison

RBLD's dividend yield for the trailing twelve months is around 1.00%, more than SPMO's 0.78% yield.

PositionTTM20252024202320222021202020192018201720162015
RBLD
First Trust Alerian U.S. NextGen Infrastructure ETF		1.00%1.19%1.31%1.16%2.10%1.45%2.88%1.84%1.74%1.49%2.01%1.17%
SPMO
Invesco S&P 500 Momentum ETF		0.78%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

RBLD and SPMO have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SPMO has higher volatility (10.55%) compared to RBLD (4.68%). In terms of maximum drawdown, RBLD dropped -50.07% vs SPMO's -30.95%.

On 10-year performance, SPMO leads with 21.59% vs 9.29% for RBLD. On fees, SPMO is cheaper at 0.13% per year. On volatility, RBLD has been the lower-risk option at 4.68%. 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 21.59% return vs 9.29%. 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 0.65% for RBLD.

RBLD has the higher dividend yield at 1.00%, compared with 0.78% for SPMO.

RBLD is categorized as Industrials Equities, while SPMO is Momentum. RBLD tracks Alerian US NextGen Infrastructure Index - Benchmark TR Net, while SPMO tracks S&P 500 Momentum Index. They also come from different issuers: First Trust and Invesco. Their fees differ too: 0.65% for RBLD and 0.13% for SPMO.

SPMO currently has the higher Sharpe Ratio (2.65 vs 2.29), 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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