SCHG vs. SPMO

Last updated Aug 4, 2026

SCHG (Schwab U.S. Large-Cap Growth ETF) and SPMO (Invesco S&P 500 Momentum ETF) are both exchange-traded funds - SCHG is a Large Cap Growth Equities fund tracking the Dow Jones U.S. Large-Cap Growth Total Stock Market Index, while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. Both are passively managed. Over the past 10 years, SCHG returned 18.33%/yr vs 19.70%/yr for SPMO. Their 0.77 correlation means they have sometimes moved together and sometimes differently. SCHG charges 0.04%/yr vs 0.13%/yr for SPMO.

Performance

SCHG vs. SPMO - Performance Comparison

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

Returns By Period

In the year-to-date period, SCHG achieves a 7.11% return, which is significantly lower than SPMO's 22.35% return. Over the past 10 years, SCHG has underperformed SPMO with an annualized return of 18.33%, while SPMO has yielded a comparatively higher 19.70% annualized return.

SCHG

• 1D: 2.02%
• 1M: 2.17%
• 6M: 8.95%
• YTD: 7.11%
• 1Y: 18.50%
• 3Y*: 23.37%
• 5Y*: 13.47%
• 10Y*: 18.33%
• ALL TIME*: 16.47%

SPMO

• 1D: 1.06%
• 1M: -3.63%
• 6M: 21.38%
• YTD: 22.35%
• 1Y: 29.45%
• 3Y*: 38.16%
• 5Y*: 20.19%
• 10Y*: 19.70%
• ALL TIME*: 19.03%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SCHG Schwab U.S. Large-Cap Growth ETF	$249.58M	$250.01M	$339.80M
SPMO Invesco S&P 500 Momentum ETF	$336.15M	$337.86M	$350.15M

SCHG vs. SPMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SCHG Schwab U.S. Large-Cap Growth ETF	7.11%	17.50%	34.95%	50.10%	-31.80%	28.11%	39.14%	36.02%	-1.36%	28.05%
SPMO Invesco S&P 500 Momentum ETF	22.35%	26.58%	45.82%	17.56%	-10.45%	22.64%	28.25%	25.93%	-0.92%	27.76%

Correlation

The correlation between SCHG and SPMO is 0.74, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.74
Correlation (3Y) Balances recent behavior with more history.	0.84
Correlation (5Y) Shows whether the relationship held over a longer period.	0.79
Correlation (10Y) Provides a long-term view across more market conditions.	0.81
Correlation (All Time) Calculated using the full available price history since Oct 12, 2015	0.77

The correlation between SCHG and SPMO shifts across timeframes, from 0.74 (1 year) to 0.84 (3 years), reflecting how their relationship changes across market environments.

SCHG vs. SPMO - Sectors Allocation Comparison

Sectors	SCHG	SPMO
Technology	44.0%	53.7%
Communication Services	14.1%	7.4%
Consumer Cyclical	11.2%	1.2%
Healthcare	9.9%	6.9%
Financial Services	7.7%	6.0%
Industrials	7.6%	11.2%
Consumer Defensive	1.9%	4.2%
Basic Materials	1.6%	1.9%
Energy	0.9%	3.3%
Real Estate	0.6%	1.1%
Utilities	0.5%	2.7%

Return for Risk

SCHG vs. SPMO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SCHG

SCHG Risk / Return Rank: 39
SCHG Sharpe Ratio Rank: 44
SCHG Sortino Ratio Rank: 43
SCHG Omega Ratio Rank: 41
SCHG Calmar Ratio Rank: 34
SCHG Martin Ratio Rank: 36

SPMO

SPMO Risk / Return Rank: 51
SPMO Sharpe Ratio Rank: 50
SPMO Sortino Ratio Rank: 49
SPMO Omega Ratio Rank: 52
SPMO Calmar Ratio Rank: 51
SPMO Martin Ratio Rank: 56

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SCHG vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Large-Cap Growth ETF (SCHG) 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.

	SCHG	SPMO	Difference
Sharpe ratio: Return per unit of total volatility	1.12	1.24	-0.12
Sortino ratio: Return per unit of downside risk	1.59	1.77	-0.18
Omega ratio: Gain probability vs. loss probability	1.20	1.24	-0.04
Calmar ratio: Return relative to maximum drawdown	1.13	1.89	-0.76
Martin ratio: Return relative to average drawdown	3.58	6.81	-3.24

SCHG vs. SPMO - Sharpe Ratio Comparison

The current SCHG Sharpe Ratio is 1.12, which is comparable to the SPMO Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of SCHG 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

SCHG vs. SPMO - Drawdown Comparison

The maximum SCHG drawdown since its inception was -34.59%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for SCHG and SPMO.

Drawdown Indicators

	SCHG	SPMO	Difference
Max Drawdown Largest peak-to-trough decline	-34.59%	-30.95%	-3.64%
Max Drawdown (1Y) Largest decline over 1 year	-16.41%	-15.64%	-0.77%
Max Drawdown (3Y) Largest decline over 3 years	-23.39%	-20.13%	-3.26%
Max Drawdown (5Y) Largest decline over 5 years	-34.59%	-22.74%	-11.85%
Max Drawdown (10Y) Largest decline over 10 years	-34.59%	-30.95%	-3.64%
Current Drawdown Current decline from peak	-1.15%	-10.09%	+8.94%
Average Drawdown Average peak-to-trough decline	-5.19%	-4.62%	-0.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.19%	4.33%	+0.86%

Volatility

SCHG vs. SPMO - Volatility Comparison

The current volatility for Schwab U.S. Large-Cap Growth ETF (SCHG) is 4.76%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 10.26%. This indicates that SCHG 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

	SCHG	SPMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.76%	10.26%	-5.50%
Volatility (6M) Calculated over the trailing 6-month period	13.02%	21.52%	-8.50%
Volatility (1Y) Calculated over the trailing 1-year period	16.66%	23.86%	-7.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.45%	20.61%	+1.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.60%	20.94%	+0.66%

SCHG vs. SPMO - Expense Ratio Comparison

SCHG has a 0.04% expense ratio, which is lower than SPMO's 0.13% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SCHG vs. SPMO - Dividend Comparison

SCHG's dividend yield for the trailing twelve months is around 0.38%, less than SPMO's 0.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCHG Schwab U.S. Large-Cap Growth ETF	0.38%	0.36%	0.39%	0.46%	0.55%	0.42%	0.52%	0.82%	1.27%	1.01%	1.04%	1.22%
SPMO Invesco S&P 500 Momentum ETF	0.72%	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 SCHG and SPMO in my portfolio?

SCHG and SPMO have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCHG or SPMO?

SPMO has higher volatility (10.26%) compared to SCHG (4.76%). In terms of maximum drawdown, SCHG dropped -34.59% vs SPMO's -30.95%.

Which ETF is better, SCHG or SPMO?

On 10-year performance, SPMO leads with 19.70% vs 18.33% for SCHG. On fees, SCHG is cheaper at 0.04% per year. On volatility, SCHG has been the lower-risk option at 4.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHG or SPMO?

Over the 10-year period, SPMO has performed better with a 19.70% return vs 18.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHG or SPMO?

SCHG is cheaper with a 0.04% expense ratio, compared with 0.13% for SPMO.

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

SPMO has the higher dividend yield at 0.72%, compared with 0.38% for SCHG.

What is the main difference between SCHG and SPMO?

SCHG is categorized as Large Cap Growth Equities, while SPMO is Momentum. SCHG tracks Dow Jones U.S. Large-Cap Growth Total Stock Market Index, while SPMO tracks S&P 500 Momentum Index. They also come from different issuers: Charles Schwab and Invesco. Their fees differ too: 0.04% for SCHG and 0.13% for SPMO.

Which has better risk-adjusted returns?

SPMO currently has the higher Sharpe Ratio (1.24 vs 1.12), 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.