RPG vs. SPMO

Last updated Jul 14, 2026

RPG (Invesco S&P 500 Pure Growth ETF) and SPMO (Invesco S&P 500 Momentum ETF) are both exchange-traded funds - RPG is a Large Cap Growth Equities fund tracking the S&P 500/Citigroup Pure Growth Index, while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. Both are passively managed. Over the past 10 years, RPG returned 14.02%/yr vs 20.66%/yr for SPMO. Their correlation of 0.80 suggests significant overlap in exposure. RPG charges 0.35%/yr vs 0.13%/yr for SPMO.

Performance

RPG vs. SPMO - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with RPG having a 26.05% return and SPMO slightly lower at 26.03%. Over the past 10 years, RPG has underperformed SPMO with an annualized return of 14.02%, while SPMO has yielded a comparatively higher 20.66% annualized return.

RPG

• 1D: -3.18%
• 1M: -3.30%
• 6M: 20.83%
• YTD: 26.05%
• 1Y: 28.01%
• 3Y*: 24.71%
• 5Y*: 10.20%
• 10Y*: 14.02%

SPMO

• 1D: -2.61%
• 1M: -1.65%
• 6M: 24.83%
• YTD: 26.03%
• 1Y: 34.61%
• 3Y*: 40.56%
• 5Y*: 21.26%
• 10Y*: 20.66%

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

RPG vs. SPMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RPG Invesco S&P 500 Pure Growth ETF	26.05%	13.41%	28.23%	8.04%	-27.55%	29.40%	29.34%	28.34%	-4.53%	26.20%
SPMO Invesco S&P 500 Momentum ETF	26.03%	26.58%	45.82%	17.56%	-10.45%	22.64%	28.25%	25.93%	-0.92%	27.76%

Correlation

The correlation between RPG and SPMO is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since Oct 12, 2015	0.80

The correlation between RPG and SPMO has been stable across timeframes, ranging from 0.80 to 0.87 - a consistent structural relationship.

RPG vs. SPMO - Sectors Allocation Comparison

Sectors	RPG	SPMO
Technology	45.8%	55.0%
Industrials	14.2%	10.9%
Consumer Cyclical	12.8%	1.1%
Communication Services	7.0%	8.1%
Healthcare	6.0%	6.6%
Financial Services	5.4%	5.7%
Utilities	2.7%	2.7%
Energy	1.5%	2.8%
Basic Materials	1.2%	1.8%
Consumer Defensive	1.1%	3.9%
Real Estate	0.9%	1.0%

Return for Risk

RPG vs. SPMO — Risk / Return Rank

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

RPG

RPG Risk / Return Rank: 50
RPG Sharpe Ratio Rank: 42
RPG Sortino Ratio Rank: 40
RPG Omega Ratio Rank: 42
RPG Calmar Ratio Rank: 64
RPG Martin Ratio Rank: 63

SPMO

SPMO Risk / Return Rank: 62
SPMO Sharpe Ratio Rank: 58
SPMO Sortino Ratio Rank: 55
SPMO Omega Ratio Rank: 60
SPMO Calmar Ratio Rank: 68
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.

RPG vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Pure Growth ETF (RPG) 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.

	RPG	SPMO	Difference
Sharpe ratio: Return per unit of total volatility	1.20	1.57	-0.37
Sortino ratio: Return per unit of downside risk	1.70	2.13	-0.42
Omega ratio: Gain probability vs. loss probability	1.22	1.29	-0.07
Calmar ratio: Return relative to maximum drawdown	2.54	2.74	-0.20
Martin ratio: Return relative to average drawdown	8.91	9.73	-0.82

RPG vs. SPMO - Sharpe Ratio Comparison

The current RPG Sharpe Ratio is 1.20, which is comparable to the SPMO Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of RPG 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

RPG vs. SPMO - Drawdown Comparison

The maximum RPG drawdown since its inception was -53.27%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for RPG and SPMO.

Drawdown Indicators

	RPG	SPMO	Difference
Max Drawdown Largest peak-to-trough decline	-53.27%	-30.95%	-22.32%
Max Drawdown (1Y) Largest decline over 1 year	-11.08%	-12.70%	+1.62%
Max Drawdown (3Y) Largest decline over 3 years	-24.75%	-20.13%	-4.62%
Max Drawdown (5Y) Largest decline over 5 years	-35.59%	-22.74%	-12.85%
Max Drawdown (10Y) Largest decline over 10 years	-36.58%	-30.95%	-5.63%
Current Drawdown Current decline from peak	-7.92%	-7.38%	-0.54%
Average Drawdown Average peak-to-trough decline	-8.82%	-4.59%	-4.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.15%	3.56%	-0.41%

Volatility

RPG vs. SPMO - Volatility Comparison

Invesco S&P 500 Pure Growth ETF (RPG) and Invesco S&P 500 Momentum ETF (SPMO) have volatilities of 12.38% and 12.53%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RPG	SPMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.38%	12.53%	-0.15%
Volatility (6M) Calculated over the trailing 6-month period	20.52%	19.77%	+0.75%
Volatility (1Y) Calculated over the trailing 1-year period	23.48%	22.23%	+1.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.14%	20.25%	+3.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.01%	20.80%	+2.21%

RPG vs. SPMO - Expense Ratio Comparison

RPG has a 0.35% expense ratio, which is higher than SPMO's 0.13% expense ratio.

Dividends

RPG vs. SPMO - Dividend Comparison

RPG's dividend yield for the trailing twelve months is around 0.16%, less than SPMO's 0.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RPG Invesco S&P 500 Pure Growth ETF	0.16%	0.24%	0.25%	1.44%	0.74%	0.00%	0.46%	0.83%	0.47%	0.56%	0.43%	0.73%
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

Can I hold both RPG and SPMO in my portfolio?

RPG and SPMO have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RPG or SPMO?

SPMO has higher volatility (12.53%) compared to RPG (12.38%). In terms of maximum drawdown, RPG dropped -53.27% vs SPMO's -30.95%.

Which ETF is better, RPG or SPMO?

On 10-year performance, SPMO leads with 20.66% vs 14.02% for RPG. On fees, SPMO is cheaper at 0.13% per year. On volatility, RPG has been the lower-risk option at 12.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RPG or SPMO?

Over the 10-year period, SPMO has performed better with a 20.66% return vs 14.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RPG or SPMO?

SPMO is cheaper with a 0.13% expense ratio, compared with 0.35% for RPG.

Which ETF pays a higher dividend yield, RPG or SPMO?

SPMO has the higher dividend yield at 0.70%, compared with 0.16% for RPG.

What is the main difference between RPG and SPMO?

RPG is categorized as Large Cap Growth Equities, while SPMO is Momentum. RPG tracks S&P 500/Citigroup Pure Growth Index, while SPMO tracks S&P 500 Momentum Index. Their fees differ too: 0.35% for RPG and 0.13% for SPMO.

Which has better risk-adjusted returns?

SPMO currently has the higher Sharpe Ratio (1.57 vs 1.20), 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.