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SIZE vs. SPMO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SIZE vs. SPMO

Last updated Jun 21, 2026

SIZE (iShares MSCI USA Size Factor ETF) and SPMO (Invesco S&P 500 Momentum ETF) are both exchange-traded funds - SIZE is a Mid Cap Blend Equities fund tracking the MSCI USA Low Size Index, while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. Both are passively managed. Over the past 10 years, SIZE returned 11.80%/yr vs 21.40%/yr for SPMO. A 0.66 correlation means they provide meaningful diversification when combined. SIZE charges 0.15%/yr vs 0.13%/yr for SPMO.

Performance

SIZE vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Size Factor ETF (SIZE) 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, SIZE achieves a 9.25% return, which is significantly lower than SPMO's 34.39% return. Over the past 10 years, SIZE has underperformed SPMO with an annualized return of 11.80%, while SPMO has yielded a comparatively higher 21.40% annualized return.

SIZE

1D
0.58%
1M
2.15%
YTD
9.25%
6M
8.68%
1Y
18.61%
3Y*
14.72%
5Y*
8.55%
10Y*
11.80%

SPMO

1D
2.84%
1M
10.51%
YTD
34.39%
6M
34.48%
1Y
50.89%
3Y*
43.78%
5Y*
24.48%
10Y*
21.40%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SIZE vs. SPMO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SIZE
iShares MSCI USA Size Factor ETF		9.25%10.51%14.37%17.78%-15.86%25.05%16.26%28.97%-6.59%18.76%
SPMO
Invesco S&P 500 Momentum ETF		34.39%26.58%45.82%17.56%-10.45%22.64%28.25%25.93%-0.92%27.76%

Correlation

The correlation between SIZE and SPMO is 0.56, 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

0.56

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

0.64

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

0.73

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

0.69

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

0.66

The correlation between SIZE and SPMO shifts across timeframes, from 0.56 (1 year) to 0.73 (5 years), reflecting how their relationship changes across market environments.

SIZE vs. SPMO - Sectors Allocation Comparison

Sectors
SIZE
SPMO

Technology

20.0%
56.8%

Industrials

15.3%
10.9%

Financial Services

14.7%
5.8%

Consumer Cyclical

11.2%
1.1%

Healthcare

10.7%
5.9%

Utilities

5.4%
2.6%

Consumer Defensive

5.3%
3.8%

Real Estate

5.3%
0.9%

Basic Materials

4.3%
1.5%

Communication Services

3.9%
8.0%

Energy

3.7%
2.8%

Technology

SIZE
20.0%
SPMO
56.8%

Industrials

SIZE
15.3%
SPMO
10.9%

Financial Services

SIZE
14.7%
SPMO
5.8%

Consumer Cyclical

SIZE
11.2%
SPMO
1.1%

Healthcare

SIZE
10.7%
SPMO
5.9%

Utilities

SIZE
5.4%
SPMO
2.6%

Consumer Defensive

SIZE
5.3%
SPMO
3.8%

Real Estate

SIZE
5.3%
SPMO
0.9%

Basic Materials

SIZE
4.3%
SPMO
1.5%

Communication Services

SIZE
3.9%
SPMO
8.0%

Energy

SIZE
3.7%
SPMO
2.8%

Compare stocks, funds, or ETFs

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

iShares MSCI USA Size Factor ETF

Invesco S&P 500 Momentum ETF

Often compared with SIZE:
SIZE vs. XLGSIZE vs. SPYSIZE vs. QUALSIZE vs. QDVA.DESIZE vs. VIGSIZE vs. VOOSIZE vs. IJH
Often compared with SPMO:
SPMO vs. VOOSPMO vs. QQQSPMO vs. SCHGSPMO vs. MTUMSPMO vs. VUGSPMO vs. VFMOSPMO vs. XMMO

Return for Risk

SIZE vs. SPMO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SIZE
SIZE Risk / Return Rank: 4646
Overall Rank
SIZE Sharpe Ratio Rank: 4343
Sharpe Ratio Rank
SIZE Sortino Ratio Rank: 4444
Sortino Ratio Rank
SIZE Omega Ratio Rank: 4040
Omega Ratio Rank
SIZE Calmar Ratio Rank: 4949
Calmar Ratio Rank
SIZE Martin Ratio Rank: 5555
Martin Ratio Rank
SPMO
SPMO Risk / Return Rank: 8181
Overall Rank
SPMO Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
SPMO Sortino Ratio Rank: 8080
Sortino Ratio Rank
SPMO Omega Ratio Rank: 8282
Omega Ratio Rank
SPMO Calmar Ratio Rank: 8181
Calmar Ratio Rank
SPMO Martin Ratio Rank: 8181
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.

SIZE vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Size Factor ETF (SIZE) 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.

SIZESPMODifference
Sharpe ratioReturn per unit of total volatility
1.45
2.54

-1.09

Sortino ratioReturn per unit of downside risk
2.13
3.34

-1.21

Omega ratioGain probability vs. loss probability

1.25

1.46

-0.21

Calmar ratioReturn relative to maximum drawdown

2.36

3.99

-1.63

Martin ratioReturn relative to average drawdown

9.15

15.09

-5.94

SIZE vs. SPMO - Sharpe Ratio Comparison

The current SIZE Sharpe Ratio is 1.45, which is lower than the SPMO Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of SIZE 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

SIZE vs. SPMO - Drawdown Comparison

The maximum SIZE drawdown since its inception was -39.15%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for SIZE and SPMO.

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Drawdown Indicators

SIZESPMODifference

Max Drawdown

Largest peak-to-trough decline

-39.15%

-30.95%

-8.20%

Max Drawdown (1Y)

Largest decline over 1 year

-7.97%

-12.70%

+4.73%

Max Drawdown (3Y)

Largest decline over 3 years

-18.71%

-20.13%

+1.42%

Max Drawdown (5Y)

Largest decline over 5 years

-24.03%

-22.74%

-1.29%

Max Drawdown (10Y)

Largest decline over 10 years

-39.15%

-30.95%

-8.20%

Current Drawdown

Current decline from peak

-1.20%

0.00%

-1.20%

Average Drawdown

Average peak-to-trough decline

-4.17%

-4.59%

+0.42%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.05%

3.35%

-1.30%

Volatility

SIZE vs. SPMO - Volatility Comparison

The current volatility for iShares MSCI USA Size Factor ETF (SIZE) is 4.03%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 10.61%. This indicates that SIZE 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

SIZESPMODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.03%

10.61%

-6.58%

Volatility (6M)

Calculated over the trailing 6-month period

9.83%

17.21%

-7.38%

Volatility (1Y)

Calculated over the trailing 1-year period

12.97%

19.99%

-7.02%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.44%

19.76%

-2.32%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.71%

20.54%

-1.83%

SIZE vs. SPMO - Expense Ratio Comparison

SIZE has a 0.15% expense ratio, which is higher than SPMO's 0.13% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SIZE vs. SPMO - Dividend Comparison

SIZE's dividend yield for the trailing twelve months is around 1.39%, more than SPMO's 0.63% yield.

PositionTTM20252024202320222021202020192018201720162015
SIZE
iShares MSCI USA Size Factor ETF		1.39%1.50%1.53%1.42%1.59%1.19%1.43%1.35%2.43%1.58%1.88%1.95%
SPMO
Invesco S&P 500 Momentum ETF		0.63%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

SIZE and SPMO have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SPMO has higher volatility (10.61%) compared to SIZE (4.03%). In terms of maximum drawdown, SIZE dropped -39.15% vs SPMO's -30.95%.

On 10-year performance, SPMO leads with 21.40% vs 11.80% for SIZE. On fees, SPMO is cheaper at 0.13% per year. On volatility, SIZE has been the lower-risk option at 4.03%. 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 21.40% return vs 11.80%. 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 0.15% for SIZE.

SIZE has the higher dividend yield at 1.39%, compared with 0.63% for SPMO.

SIZE is categorized as Mid Cap Blend Equities, while SPMO is Momentum. SIZE tracks MSCI USA Low Size Index, while SPMO tracks S&P 500 Momentum Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.15% for SIZE and 0.13% for SPMO.

SPMO currently has the higher Sharpe Ratio (2.54 vs 1.45), 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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