SPMO vs. BBEM
SPMO (Invesco S&P 500 Momentum ETF) and BBEM (JPMorgan Betabuilders Emerging Markets Equity ETF) are both exchange-traded funds - SPMO is a Momentum fund tracking the S&P 500 Momentum Index, while BBEM is a Emerging Markets Diversified fund tracking the Morningstar Emerging Markets Target Market Exposure Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, SPMO returned 43.16%/yr vs 21.68%/yr for BBEM. A 0.57 correlation means they provide meaningful diversification when combined. SPMO charges 0.13%/yr vs 0.15%/yr for BBEM.
Performance
SPMO vs. BBEM - Performance Comparison
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Returns By Period
In the year-to-date period, SPMO achieves a 32.66% return, which is significantly higher than BBEM's 27.42% return.
SPMO
- 1D
- 3.52%
- 1M
- 10.01%
- YTD
- 32.66%
- 6M
- 33.70%
- 1Y
- 50.00%
- 3Y*
- 43.16%
- 5Y*
- 24.34%
- 10Y*
- 21.24%
BBEM
- 1D
- 3.45%
- 1M
- 7.93%
- YTD
- 27.42%
- 6M
- 29.72%
- 1Y
- 50.70%
- 3Y*
- 21.68%
- 5Y*
- —
- 10Y*
- —
SPMO vs. BBEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SPMO Invesco S&P 500 Momentum ETF | 32.66% | 26.58% | 45.82% | 20.02% |
BBEM JPMorgan Betabuilders Emerging Markets Equity ETF | 27.42% | 32.43% | 5.61% | 6.01% |
Correlation
The correlation between SPMO and BBEM is 0.70, 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 | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since May 11, 2023 | 0.57 |
The correlation between SPMO and BBEM shifts across timeframes, from 0.57 (all time) to 0.70 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SPMO vs. BBEM — Risk / Return Rank
SPMO
BBEM
SPMO vs. BBEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Momentum ETF (SPMO) and JPMorgan Betabuilders Emerging Markets Equity ETF (BBEM). 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.
| SPMO | BBEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.45 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.96 | 3.88 | +0.07 |
| Martin ratioReturn relative to average drawdown | 14.96 | 14.58 | +0.38 |
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Drawdowns
SPMO vs. BBEM - Drawdown Comparison
The maximum SPMO drawdown since its inception was -30.95%, which is greater than BBEM's maximum drawdown of -17.42%. Use the drawdown chart below to compare losses from any high point for SPMO and BBEM.
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Drawdown Indicators
| SPMO | BBEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.95% | -17.42% | -13.53% |
Max Drawdown (1Y)Largest decline over 1 year | -12.70% | -13.12% | +0.42% |
Max Drawdown (3Y)Largest decline over 3 years | -20.13% | -17.42% | -2.71% |
Max Drawdown (5Y)Largest decline over 5 years | -22.74% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -30.95% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.00% | +1.00% |
Average DrawdownAverage peak-to-trough decline | -4.60% | -3.72% | -0.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.35% | 3.49% | -0.14% |
Volatility
SPMO vs. BBEM - Volatility Comparison
Invesco S&P 500 Momentum ETF (SPMO) and JPMorgan Betabuilders Emerging Markets Equity ETF (BBEM) have volatilities of 10.78% and 11.09%, 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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Volatility by Period
| SPMO | BBEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.78% | 11.09% | -0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 17.04% | 19.31% | -2.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.78% | 21.32% | -1.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.71% | 18.10% | +1.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.52% | 18.10% | +2.42% |
SPMO vs. BBEM - Expense Ratio Comparison
SPMO has a 0.13% expense ratio, which is lower than BBEM's 0.15% 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
SPMO vs. BBEM - Dividend Comparison
SPMO's dividend yield for the trailing twelve months is around 0.64%, less than BBEM's 4.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BBEM JPMorgan Betabuilders Emerging Markets Equity ETF | 4.58% | 5.86% | 2.73% | 1.94% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPMO Invesco S&P 500 Momentum ETF | 0.64% | 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
SPMO and BBEM have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BBEM has higher volatility (11.09%) compared to SPMO (10.78%). In terms of maximum drawdown, SPMO dropped -30.95% vs BBEM's -17.42%.
On 3-year performance, SPMO leads with 43.16% vs 21.68% for BBEM. On fees, SPMO is cheaper at 0.13% per year. On volatility, SPMO has been the lower-risk option at 10.78%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SPMO has performed better with a 43.16% return vs 21.68%. 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 BBEM.
BBEM has the higher dividend yield at 4.58%, compared with 0.64% for SPMO.
SPMO is categorized as Momentum, while BBEM is Emerging Markets Diversified. SPMO tracks S&P 500 Momentum Index, while BBEM tracks Morningstar Emerging Markets Target Market Exposure Index - Benchmark TR Net. They also come from different issuers: Invesco and JPMorgan. Their fees differ too: 0.13% for SPMO and 0.15% for BBEM.
SPMO currently has the higher Sharpe Ratio (2.55 vs 2.39), 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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