Correlation
The correlation between SPMAX and SPMO is 0.77, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
SPMAX vs. SPMO
Compare and contrast key facts about Saratoga Mid Capitalization Portfolio (SPMAX) and Invesco S&P 500® Momentum ETF (SPMO).
SPMAX is managed by Saratoga. It was launched on Jun 28, 2002. SPMO is a passively managed fund by Invesco that tracks the performance of the S&P 500 Momentum Index. It was launched on Oct 9, 2015.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SPMAX or SPMO.
Performance
SPMAX vs. SPMO - Performance Comparison
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Key characteristics
SPMAX:
0.34
SPMO:
1.22
SPMAX:
0.54
SPMO:
1.64
SPMAX:
1.07
SPMO:
1.23
SPMAX:
0.26
SPMO:
1.39
SPMAX:
0.74
SPMO:
5.03
SPMAX:
8.16%
SPMO:
5.58%
SPMAX:
21.42%
SPMO:
25.08%
SPMAX:
-52.68%
SPMO:
-30.95%
SPMAX:
-11.43%
SPMO:
0.00%
Returns By Period
In the year-to-date period, SPMAX achieves a -2.76% return, which is significantly lower than SPMO's 11.09% return.
SPMAX
-2.76%
5.40%
-10.32%
7.28%
7.65%
12.16%
5.58%
SPMO
11.09%
11.40%
9.23%
30.41%
24.56%
21.21%
N/A
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SPMAX vs. SPMO - Expense Ratio Comparison
SPMAX has a 2.06% expense ratio, which is higher than SPMO's 0.13% expense ratio.
Risk-Adjusted Performance
SPMAX vs. SPMO — Risk-Adjusted Performance Rank
SPMAX
SPMO
SPMAX vs. SPMO - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Saratoga Mid Capitalization Portfolio (SPMAX) 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.
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Dividends
SPMAX vs. SPMO - Dividend Comparison
SPMAX's dividend yield for the trailing twelve months is around 19.44%, more than SPMO's 0.48% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPMAX Saratoga Mid Capitalization Portfolio | 19.44% | 18.91% | 1.28% | 2.11% | 16.31% | 9.56% | 0.01% | 13.57% | 8.25% | 8.08% | 5.03% | 16.69% |
SPMO Invesco S&P 500® Momentum ETF | 0.48% | 0.48% | 1.63% | 1.66% | 0.52% | 1.27% | 1.39% | 1.05% | 0.77% | 1.94% | 0.36% | 0.00% |
Drawdowns
SPMAX vs. SPMO - Drawdown Comparison
The maximum SPMAX drawdown since its inception was -52.68%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for SPMAX and SPMO.
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Volatility
SPMAX vs. SPMO - Volatility Comparison
Saratoga Mid Capitalization Portfolio (SPMAX) and Invesco S&P 500® Momentum ETF (SPMO) have volatilities of 5.39% and 5.51%, 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.
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