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SPMO vs. HXQ.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPMO vs. HXQ.TO

Last updated Jun 13, 2026

SPMO (Invesco S&P 500 Momentum ETF) and HXQ.TO (Horizons NASDAQ-100 Index ETF) are both exchange-traded funds - SPMO is a Momentum fund tracking the S&P 500 Momentum Index, while HXQ.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, SPMO returned 20.86%/yr vs 21.23%/yr for HXQ.TO. A 0.63 correlation means they provide meaningful diversification when combined. SPMO charges 0.13%/yr vs 0.25%/yr for HXQ.TO.

Performance

SPMO vs. HXQ.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Momentum ETF (SPMO) and Horizons NASDAQ-100 Index ETF (HXQ.TO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

SPMO is traded in USD, while HXQ.TO is traded in CAD. To make them comparable, the HXQ.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, SPMO achieves a 28.15% return, which is significantly higher than HXQ.TO's 17.23% return. Both investments have delivered pretty close results over the past 10 years, with SPMO having a 20.86% annualized return and HXQ.TO not far ahead at 21.23%.

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%

HXQ.TO

1D
0.55%
1M
0.92%
YTD
17.23%
6M
17.86%
1Y
36.33%
3Y*
26.37%
5Y*
16.50%
10Y*
21.23%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SPMO vs. HXQ.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
HXQ.TO
Horizons NASDAQ-100 Index ETF		17.17%20.55%25.37%54.85%-32.14%26.26%49.12%37.94%-1.57%32.06%

Correlation

The correlation between SPMO and HXQ.TO is 0.72, 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

0.72

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

0.73

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

0.67

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

0.64

Correlation (All Time)
Calculated using the full available price history since Apr 21, 2016

0.63

The correlation between SPMO and HXQ.TO has been stable across timeframes, ranging from 0.63 to 0.73 - a consistent structural relationship.

SPMO vs. HXQ.TO - Sectors Allocation Comparison

Sectors
SPMO
HXQ.TO

Technology

54.8%
55.9%

Industrials

10.9%
3.1%

Communication Services

8.7%
15.8%

Healthcare

6.2%
4.4%

Financial Services

5.7%
0.3%

Consumer Defensive

4.0%
4.4%

Energy

3.1%
0.5%

Utilities

2.5%
1.4%

Basic Materials

1.6%
1.0%

Consumer Cyclical

1.3%
13.2%

Real Estate

0.9%
0.2%

Technology

SPMO
54.8%
HXQ.TO
55.9%

Industrials

SPMO
10.9%
HXQ.TO
3.1%

Communication Services

SPMO
8.7%
HXQ.TO
15.8%

Healthcare

SPMO
6.2%
HXQ.TO
4.4%

Financial Services

SPMO
5.7%
HXQ.TO
0.3%

Consumer Defensive

SPMO
4.0%
HXQ.TO
4.4%

Energy

SPMO
3.1%
HXQ.TO
0.5%

Utilities

SPMO
2.5%
HXQ.TO
1.4%

Basic Materials

SPMO
1.6%
HXQ.TO
1.0%

Consumer Cyclical

SPMO
1.3%
HXQ.TO
13.2%

Real Estate

SPMO
0.9%
HXQ.TO
0.2%

Compare stocks, funds, or ETFs

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

Invesco S&P 500 Momentum ETF

Horizons NASDAQ-100 Index ETF

Often compared with SPMO:
SPMO vs. VOOSPMO vs. QQQSPMO vs. SCHGSPMO vs. MTUMSPMO vs. VUGSPMO vs. VFMOSPMO vs. XMMO
Often compared with HXQ.TO:
HXQ.TO vs. QQC.TOHXQ.TO vs. XQQ.TOHXQ.TO vs. VFV.TOHXQ.TO vs. QQQHXQ.TO vs. HXS.TOHXQ.TO vs. ZNQ.TOHXQ.TO vs. QQC-F.TO

Return for Risk

SPMO vs. HXQ.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPMO
SPMO Risk / Return Rank: 7979
Overall Rank
SPMO Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
SPMO Sortino Ratio Rank: 7878
Sortino Ratio Rank
SPMO Omega Ratio Rank: 8080
Omega Ratio Rank
SPMO Calmar Ratio Rank: 7777
Calmar Ratio Rank
SPMO Martin Ratio Rank: 7878
Martin Ratio Rank
HXQ.TO
HXQ.TO Risk / Return Rank: 7777
Overall Rank
HXQ.TO Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
HXQ.TO Sortino Ratio Rank: 8080
Sortino Ratio Rank
HXQ.TO Omega Ratio Rank: 8282
Omega Ratio Rank
HXQ.TO Calmar Ratio Rank: 7272
Calmar Ratio Rank
HXQ.TO Martin Ratio Rank: 6464
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.

SPMO vs. HXQ.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Momentum ETF (SPMO) and Horizons NASDAQ-100 Index ETF (HXQ.TO). 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.

SPMOHXQ.TODifference
Sharpe ratioReturn per unit of total volatility
2.24
2.09

+0.15

Sortino ratioReturn per unit of downside risk
2.98
2.73

+0.25

Omega ratioGain probability vs. loss probability

1.41

1.38

+0.03

Calmar ratioReturn relative to maximum drawdown

3.44

3.05

+0.39

Martin ratioReturn relative to average drawdown

13.01

11.18

+1.82

SPMO vs. HXQ.TO - Sharpe Ratio Comparison

The current SPMO Sharpe Ratio is 2.24, which is comparable to the HXQ.TO Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of SPMO and HXQ.TO, 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

SPMO vs. HXQ.TO - Drawdown Comparison

The maximum SPMO drawdown since its inception was -30.95%, smaller than the maximum HXQ.TO drawdown of -35.78%. Use the drawdown chart below to compare losses from any high point for SPMO and HXQ.TO.

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Drawdown Indicators

SPMOHXQ.TODifference

Max Drawdown

Largest peak-to-trough decline

-30.95%

-35.78%

+4.83%

Max Drawdown (1Y)

Largest decline over 1 year

-12.70%

-11.98%

-0.72%

Max Drawdown (3Y)

Largest decline over 3 years

-20.13%

-22.85%

+2.72%

Max Drawdown (5Y)

Largest decline over 5 years

-22.74%

-35.78%

+13.04%

Max Drawdown (10Y)

Largest decline over 10 years

-30.95%

-35.78%

+4.83%

Current Drawdown

Current decline from peak

-1.68%

-3.52%

+1.84%

Average Drawdown

Average peak-to-trough decline

-4.60%

-6.35%

+1.75%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.35%

3.26%

+0.09%

Volatility

SPMO vs. HXQ.TO - Volatility Comparison

Invesco S&P 500 Momentum ETF (SPMO) has a higher volatility of 10.29% compared to Horizons NASDAQ-100 Index ETF (HXQ.TO) at 7.30%. This indicates that SPMO's price experiences larger fluctuations and is considered to be riskier than HXQ.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SPMOHXQ.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

10.29%

7.30%

+2.99%

Volatility (6M)

Calculated over the trailing 6-month period

16.73%

13.67%

+3.06%

Volatility (1Y)

Calculated over the trailing 1-year period

19.48%

17.43%

+2.05%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.65%

21.64%

-1.99%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.48%

21.58%

-1.10%

SPMO vs. HXQ.TO - Expense Ratio Comparison

SPMO has a 0.13% expense ratio, which is lower than HXQ.TO's 0.25% 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. HXQ.TO - Dividend Comparison

SPMO's dividend yield for the trailing twelve months is around 0.67%, while HXQ.TO has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
HXQ.TO
Horizons NASDAQ-100 Index ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
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

SPMO and HXQ.TO have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SPMO is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SPMO is cheaper with a 0.13% expense ratio, compared with 0.25% for HXQ.TO.

SPMO is categorized as Momentum, while HXQ.TO is Nasdaq-100. SPMO tracks S&P 500 Momentum Index, while HXQ.TO tracks NASDAQ-100 Index. They also come from different issuers: Invesco and Horizons. Their fees differ too: 0.13% for SPMO and 0.25% for HXQ.TO.

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