SPMO vs. GDE
SPMO (Invesco S&P 500 Momentum ETF) and GDE (WisdomTree Efficient Gold Plus Equity Strategy Fund) are both exchange-traded funds - SPMO is a Momentum fund tracking the S&P 500 Momentum Index, while GDE is a Gold fund actively managed by WisdomTree. SPMO is passively managed, while GDE is actively managed. Over the past 3 years, SPMO returned 43.04%/yr vs 46.68%/yr for GDE. A 0.54 correlation means they provide meaningful diversification when combined. SPMO charges 0.13%/yr vs 0.20%/yr for GDE.
Performance
SPMO vs. GDE - Performance Comparison
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Returns By Period
In the year-to-date period, SPMO achieves a 30.35% return, which is significantly higher than GDE's 9.79% return.
SPMO
- 1D
- 0.50%
- 1M
- 15.36%
- YTD
- 30.35%
- 6M
- 30.51%
- 1Y
- 46.00%
- 3Y*
- 43.04%
- 5Y*
- 24.29%
- 10Y*
- 20.95%
GDE
- 1D
- -1.35%
- 1M
- 1.88%
- YTD
- 9.79%
- 6M
- 11.87%
- 1Y
- 53.13%
- 3Y*
- 46.68%
- 5Y*
- —
- 10Y*
- —
SPMO vs. GDE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SPMO Invesco S&P 500 Momentum ETF | 30.35% | 26.58% | 45.82% | 17.56% | -2.91% |
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund | 9.79% | 73.76% | 44.79% | 33.85% | -18.67% |
Correlation
The correlation between SPMO and GDE is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Mar 18, 2022 | 0.54 |
The correlation between SPMO and GDE has been stable across timeframes, ranging from 0.46 to 0.54 - a consistent structural relationship.
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Return for Risk
SPMO vs. GDE — Risk / Return Rank
SPMO
GDE
SPMO vs. GDE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Momentum ETF (SPMO) and WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE). 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.
| SPMO | GDE | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.62 | 1.88 | +0.74 |
Sortino ratioReturn per unit of downside risk | 3.54 | 2.32 | +1.22 |
Omega ratioGain probability vs. loss probability | 1.47 | 1.34 | +0.13 |
Calmar ratioReturn relative to maximum drawdown | 3.64 | 2.36 | +1.28 |
Martin ratioReturn relative to average drawdown | 14.17 | 7.34 | +6.82 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPMO | GDE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.62 | 1.88 | +0.74 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.27 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.03 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.01 | 1.15 | -0.14 |
Drawdowns
SPMO vs. GDE - Drawdown Comparison
The maximum SPMO drawdown since its inception was -30.95%, roughly equal to the maximum GDE drawdown of -32.01%. Use the drawdown chart below to compare losses from any high point for SPMO and GDE.
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Drawdown Indicators
| SPMO | GDE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.95% | -32.01% | +1.06% |
Max Drawdown (1Y)Largest decline over 1 year | -12.70% | -22.66% | +9.96% |
Max Drawdown (3Y)Largest decline over 3 years | -20.13% | -22.66% | +2.53% |
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% | -11.17% | +11.17% |
Average DrawdownAverage peak-to-trough decline | -4.60% | -7.88% | +3.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.26% | 7.26% | -4.00% |
Volatility
SPMO vs. GDE - Volatility Comparison
Invesco S&P 500 Momentum ETF (SPMO) has a higher volatility of 7.35% compared to WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE) at 6.65%. This indicates that SPMO's price experiences larger fluctuations and is considered to be riskier than GDE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPMO | GDE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.35% | 6.65% | +0.70% |
Volatility (6M)Calculated over the trailing 6-month period | 14.39% | 24.24% | -9.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.64% | 28.39% | -10.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.30% | 26.12% | -6.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.31% | 26.12% | -5.81% |
SPMO vs. GDE - Expense Ratio Comparison
SPMO has a 0.13% expense ratio, which is lower than GDE's 0.20% 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. GDE - Dividend Comparison
SPMO's dividend yield for the trailing twelve months is around 0.65%, less than GDE's 3.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund | 3.94% | 4.32% | 7.14% | 2.22% | 0.81% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPMO Invesco S&P 500 Momentum ETF | 0.65% | 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 GDE have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPMO has higher volatility (7.35%) compared to GDE (6.65%). In terms of maximum drawdown, SPMO dropped -30.95% vs GDE's -32.01%.
On 3-year performance, GDE leads with 46.68% vs 43.04% for SPMO. On fees, SPMO is cheaper at 0.13% per year. On volatility, GDE has been the lower-risk option at 6.65%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GDE has performed better with a 46.68% return vs 43.04%. 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 0.20% for GDE.
GDE has the higher dividend yield at 3.94%, compared with 0.65% for SPMO.
SPMO is categorized as Momentum, while GDE is Gold. They also come from different issuers: Invesco and WisdomTree. Their fees differ too: 0.13% for SPMO and 0.20% for GDE.
SPMO currently has the higher Sharpe Ratio (2.62 vs 1.88), 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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