SPMO vs. GRID

Last updated Jun 13, 2026

SPMO (Invesco S&P 500 Momentum ETF) and GRID (First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund) are both exchange-traded funds - SPMO is a Momentum fund tracking the S&P 500 Momentum Index, while GRID is a Alternative Energy Equities fund tracking the Nasdaq Clean Edge Smart Grid Infrastructure Index. Both are passively managed. Over the past 10 years, SPMO returned 20.86%/yr vs 19.76%/yr for GRID. A 0.64 correlation means they provide meaningful diversification when combined. SPMO charges 0.13%/yr vs 0.70%/yr for GRID.

Performance

SPMO vs. GRID - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Momentum ETF (SPMO) and First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPMO achieves a 28.15% return, which is significantly higher than GRID's 23.59% return. Over the past 10 years, SPMO has outperformed GRID with an annualized return of 20.86%, while GRID has yielded a comparatively lower 19.76% annualized return.

SPMO

• 1D: 1.26%
• 1M: 4.23%
• YTD: 28.15%
• 6M: 28.70%
• 1Y: 43.47%
• 3Y*: 41.53%
• 5Y*: 23.50%
• 10Y*: 20.86%

GRID

• 1D: -0.18%
• 1M: -4.18%
• YTD: 23.59%
• 6M: 24.02%
• 1Y: 41.72%
• 3Y*: 23.21%
• 5Y*: 16.83%
• 10Y*: 19.76%

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

SPMO vs. GRID - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPMO Invesco S&P 500 Momentum ETF	28.15%	26.58%	45.82%	17.56%	-10.45%	22.64%	28.25%	25.93%	-0.92%	27.76%
GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund	23.59%	29.65%	15.18%	21.57%	-13.89%	27.65%	48.84%	42.80%	-22.69%	27.44%

Correlation

The correlation between SPMO and GRID is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since Oct 12, 2015	0.64

The correlation between SPMO and GRID shifts across timeframes, from 0.64 (all time) to 0.83 (1 year), reflecting how their relationship changes across market environments.

SPMO vs. GRID - Sectors Allocation Comparison

Sectors	SPMO	GRID
Technology	54.8%	11.0%
Industrials	10.9%	65.2%
Communication Services	8.7%	-
Healthcare	6.2%	-
Financial Services	5.7%	-
Consumer Defensive	4.0%	-
Energy	3.1%	-
Utilities	2.5%	20.4%
Basic Materials	1.6%	0.0%
Consumer Cyclical	1.3%	3.5%
Real Estate	0.9%	-

Return for Risk

SPMO vs. GRID — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPMO

SPMO Risk / Return Rank: 79
SPMO Sharpe Ratio Rank: 81
SPMO Sortino Ratio Rank: 78
SPMO Omega Ratio Rank: 80
SPMO Calmar Ratio Rank: 77
SPMO Martin Ratio Rank: 78

GRID

GRID Risk / Return Rank: 73
GRID Sharpe Ratio Rank: 72
GRID Sortino Ratio Rank: 69
GRID Omega Ratio Rank: 69
GRID Calmar Ratio Rank: 79
GRID Martin Ratio Rank: 78

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.

SPMO vs. GRID - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Momentum ETF (SPMO) and First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID). 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	GRID	Difference
Sharpe ratio: Return per unit of total volatility	2.24	2.02	+0.22
Sortino ratio: Return per unit of downside risk	2.98	2.70	+0.28
Omega ratio: Gain probability vs. loss probability	1.41	1.35	+0.06
Calmar ratio: Return relative to maximum drawdown	3.44	3.57	-0.14
Martin ratio: Return relative to average drawdown	13.01	12.89	+0.11

SPMO vs. GRID - Sharpe Ratio Comparison

The current SPMO Sharpe Ratio is 2.24, which is comparable to the GRID Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of SPMO and GRID, 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

SPMO vs. GRID - Drawdown Comparison

The maximum SPMO drawdown since its inception was -30.95%, smaller than the maximum GRID drawdown of -40.56%. Use the drawdown chart below to compare losses from any high point for SPMO and GRID.

Drawdown Indicators

	SPMO	GRID	Difference
Max Drawdown Largest peak-to-trough decline	-30.95%	-40.56%	+9.61%
Max Drawdown (1Y) Largest decline over 1 year	-12.70%	-11.73%	-0.97%
Max Drawdown (3Y) Largest decline over 3 years	-20.13%	-20.77%	+0.64%
Max Drawdown (5Y) Largest decline over 5 years	-22.74%	-29.64%	+6.90%
Max Drawdown (10Y) Largest decline over 10 years	-30.95%	-40.56%	+9.61%
Current Drawdown Current decline from peak	-1.68%	-5.40%	+3.72%
Average Drawdown Average peak-to-trough decline	-4.60%	-8.42%	+3.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.35%	3.25%	+0.10%

Volatility

SPMO vs. GRID - Volatility Comparison

Invesco S&P 500 Momentum ETF (SPMO) has a higher volatility of 10.29% compared to First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID) at 9.56%. This indicates that SPMO's price experiences larger fluctuations and is considered to be riskier than GRID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPMO	GRID	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.29%	9.56%	+0.73%
Volatility (6M) Calculated over the trailing 6-month period	16.73%	17.70%	-0.97%
Volatility (1Y) Calculated over the trailing 1-year period	19.48%	20.73%	-1.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.65%	21.24%	-1.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.48%	22.90%	-2.42%

SPMO vs. GRID - Expense Ratio Comparison

SPMO has a 0.13% expense ratio, which is lower than GRID's 0.70% expense ratio.

Dividends

SPMO vs. GRID - Dividend Comparison

SPMO's dividend yield for the trailing twelve months is around 0.67%, less than GRID's 0.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund	0.80%	1.01%	1.06%	1.23%	1.26%	0.63%	0.68%	1.26%	1.28%	1.07%	1.07%	1.23%
SPMO Invesco S&P 500 Momentum ETF	0.67%	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 SPMO and GRID in my portfolio?

SPMO and GRID have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPMO or GRID?

SPMO has higher volatility (10.29%) compared to GRID (9.56%). In terms of maximum drawdown, SPMO dropped -30.95% vs GRID's -40.56%.

Which ETF is better, SPMO or GRID?

On 10-year performance, SPMO leads with 20.86% vs 19.76% for GRID. On fees, SPMO is cheaper at 0.13% per year. On volatility, GRID has been the lower-risk option at 9.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPMO or GRID?

Over the 10-year period, SPMO has performed better with a 20.86% return vs 19.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPMO or GRID?

SPMO is cheaper with a 0.13% expense ratio, compared with 0.70% for GRID.

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

GRID has the higher dividend yield at 0.80%, compared with 0.67% for SPMO.

What is the main difference between SPMO and GRID?

SPMO is categorized as Momentum, while GRID is Alternative Energy Equities. SPMO tracks S&P 500 Momentum Index, while GRID tracks Nasdaq Clean Edge Smart Grid Infrastructure Index. They also come from different issuers: Invesco and First Trust. Their fees differ too: 0.13% for SPMO and 0.70% for GRID.

Which has better risk-adjusted returns?

SPMO currently has the higher Sharpe Ratio (2.24 vs 2.02), 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.