SPMO vs. IBIT
SPMO (Invesco S&P 500 Momentum ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - SPMO is a Momentum fund tracking the S&P 500 Momentum Index, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, SPMO returned 39.53% vs -39.44% for IBIT. At a 0.37 correlation, their price movements are largely independent. SPMO charges 0.13%/yr vs 0.25%/yr for IBIT.
Performance
SPMO vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, SPMO achieves a 24.29% return, which is significantly higher than IBIT's -27.71% return.
SPMO
- 1D
- 2.50%
- 1M
- 2.83%
- YTD
- 24.29%
- 6M
- 22.86%
- 1Y
- 39.53%
- 3Y*
- 40.28%
- 5Y*
- 23.06%
- 10Y*
- 20.38%
IBIT
- 1D
- 5.13%
- 1M
- -21.03%
- YTD
- -27.71%
- 6M
- -30.34%
- 1Y
- -39.44%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPMO vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SPMO Invesco S&P 500 Momentum ETF | 24.29% | 26.58% | 42.91% |
IBIT iShares Bitcoin Trust ETF | -27.71% | -6.41% | 99.21% |
Correlation
The correlation between SPMO and IBIT is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2024 | 0.37 |
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Return for Risk
SPMO vs. IBIT — Risk / Return Rank
SPMO
IBIT
SPMO vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Momentum ETF (SPMO) and iShares Bitcoin Trust ETF (IBIT). 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 | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.02 | ||
| Sortino ratioReturn per unit of downside risk | +4.05 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 0.86 | +0.53 |
| Calmar ratioReturn relative to maximum drawdown | 3.13 | -0.76 | +3.89 |
| Martin ratioReturn relative to average drawdown | 12.02 | -1.36 | +13.38 |
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 | IBIT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.13 | -0.90 | +3.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.19 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.00 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.98 | 0.26 | +0.71 |
Drawdowns
SPMO vs. IBIT - Drawdown Comparison
The maximum SPMO drawdown since its inception was -30.95%, smaller than the maximum IBIT drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for SPMO and IBIT.
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Drawdown Indicators
| SPMO | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.95% | -52.11% | +21.16% |
Max Drawdown (1Y)Largest decline over 1 year | -12.70% | -52.11% | +39.41% |
Max Drawdown (3Y)Largest decline over 3 years | -20.13% | — | — |
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 | -4.65% | -49.66% | +45.01% |
Average DrawdownAverage peak-to-trough decline | -4.60% | -16.19% | +11.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.30% | 28.97% | -25.67% |
Volatility
SPMO vs. IBIT - Volatility Comparison
The current volatility for Invesco S&P 500 Momentum ETF (SPMO) is 9.44%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 11.85%. This indicates that SPMO experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPMO | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.44% | 11.85% | -2.41% |
Volatility (6M)Calculated over the trailing 6-month period | 15.82% | 34.60% | -18.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.72% | 44.28% | -25.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.50% | 50.32% | -30.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.41% | 50.32% | -29.91% |
SPMO vs. IBIT - Expense Ratio Comparison
SPMO has a 0.13% expense ratio, which is lower than IBIT'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. IBIT - Dividend Comparison
SPMO's dividend yield for the trailing twelve months is around 0.69%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBIT iShares Bitcoin Trust 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 | 0.69% | 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 IBIT have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (11.85%) compared to SPMO (9.44%). In terms of maximum drawdown, SPMO dropped -30.95% vs IBIT's -52.11%.
On 1-year performance, SPMO leads with 39.53% vs -39.44% for IBIT. On fees, SPMO is cheaper at 0.13% per year. On volatility, SPMO has been the lower-risk option at 9.44%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SPMO has performed better with a 39.53% return vs -39.44%. 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 0.25% for IBIT.
SPMO has the higher dividend yield at 0.69%, compared with 0.00% for IBIT.
SPMO is categorized as Momentum, while IBIT is Cryptocurrency. SPMO tracks S&P 500 Momentum Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.13% for SPMO and 0.25% for IBIT.
SPMO currently has the higher Sharpe Ratio (2.13 vs -0.90), 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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