SPMO vs. ISCF

Last updated Jun 13, 2026

SPMO (Invesco S&P 500 Momentum ETF) and ISCF (iShares MSCI Intl Small-Cap Multifactor ETF) are both exchange-traded funds - SPMO is a Momentum fund tracking the S&P 500 Momentum Index, while ISCF is a Foreign Small & Mid Cap Equities fund tracking the MSCI World exUSA SmallCap Diversified Multi-Factor. Both are passively managed. Over the past 10 years, SPMO returned 20.86%/yr vs 9.53%/yr for ISCF. A 0.59 correlation means they provide meaningful diversification when combined. SPMO charges 0.13%/yr vs 0.40%/yr for ISCF.

Performance

SPMO vs. ISCF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Momentum ETF (SPMO) and iShares MSCI Intl Small-Cap Multifactor ETF (ISCF). 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 ISCF's 7.55% return. Over the past 10 years, SPMO has outperformed ISCF with an annualized return of 20.86%, while ISCF has yielded a comparatively lower 9.53% 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%

ISCF

• 1D: 0.22%
• 1M: -1.03%
• YTD: 7.55%
• 6M: 9.41%
• 1Y: 19.43%
• 3Y*: 16.69%
• 5Y*: 7.29%
• 10Y*: 9.53%

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

SPMO vs. ISCF - 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%
ISCF iShares MSCI Intl Small-Cap Multifactor ETF	7.55%	33.65%	4.75%	11.50%	-15.07%	13.31%	7.65%	26.32%	-18.76%	38.13%

Correlation

The correlation between SPMO and ISCF is 0.62, 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	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (10Y) Calculated over the trailing 10-year period	0.61
Correlation (All Time) Calculated using the full available price history since Oct 12, 2015	0.59

The correlation between SPMO and ISCF has been stable across timeframes, ranging from 0.55 to 0.64 - a consistent structural relationship.

SPMO vs. ISCF - Sectors Allocation Comparison

Sectors	SPMO	ISCF
Technology	54.8%	10.5%
Industrials	10.9%	23.3%
Communication Services	8.7%	3.8%
Healthcare	6.2%	5.4%
Financial Services	5.7%	12.3%
Consumer Defensive	4.0%	4.1%
Energy	3.1%	4.8%
Utilities	2.5%	3.6%
Basic Materials	1.6%	11.2%
Consumer Cyclical	1.3%	12.4%
Real Estate	0.9%	8.8%

Return for Risk

SPMO vs. ISCF — 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

ISCF

ISCF Risk / Return Rank: 41
ISCF Sharpe Ratio Rank: 42
ISCF Sortino Ratio Rank: 41
ISCF Omega Ratio Rank: 41
ISCF Calmar Ratio Rank: 39
ISCF Martin Ratio Rank: 44

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. ISCF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Momentum ETF (SPMO) and iShares MSCI Intl Small-Cap Multifactor ETF (ISCF). 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	ISCF	Difference
Sharpe ratio: Return per unit of total volatility	2.24	1.31	+0.93
Sortino ratio: Return per unit of downside risk	2.98	1.89	+1.09
Omega ratio: Gain probability vs. loss probability	1.41	1.24	+0.17
Calmar ratio: Return relative to maximum drawdown	3.44	1.72	+1.72
Martin ratio: Return relative to average drawdown	13.01	6.33	+6.67

SPMO vs. ISCF - Sharpe Ratio Comparison

The current SPMO Sharpe Ratio is 2.24, which is higher than the ISCF Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of SPMO and ISCF, 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. ISCF - Drawdown Comparison

The maximum SPMO drawdown since its inception was -30.95%, smaller than the maximum ISCF drawdown of -40.79%. Use the drawdown chart below to compare losses from any high point for SPMO and ISCF.

Drawdown Indicators

	SPMO	ISCF	Difference
Max Drawdown Largest peak-to-trough decline	-30.95%	-40.79%	+9.84%
Max Drawdown (1Y) Largest decline over 1 year	-12.70%	-11.34%	-1.36%
Max Drawdown (3Y) Largest decline over 3 years	-20.13%	-13.85%	-6.28%
Max Drawdown (5Y) Largest decline over 5 years	-22.74%	-30.70%	+7.96%
Max Drawdown (10Y) Largest decline over 10 years	-30.95%	-40.79%	+9.84%
Current Drawdown Current decline from peak	-1.68%	-2.40%	+0.72%
Average Drawdown Average peak-to-trough decline	-4.60%	-8.13%	+3.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.35%	3.08%	+0.27%

Volatility

SPMO vs. ISCF - Volatility Comparison

Invesco S&P 500 Momentum ETF (SPMO) has a higher volatility of 10.29% compared to iShares MSCI Intl Small-Cap Multifactor ETF (ISCF) at 5.07%. This indicates that SPMO's price experiences larger fluctuations and is considered to be riskier than ISCF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPMO	ISCF	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.29%	5.07%	+5.22%
Volatility (6M) Calculated over the trailing 6-month period	16.73%	12.43%	+4.30%
Volatility (1Y) Calculated over the trailing 1-year period	19.48%	14.87%	+4.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.65%	16.74%	+2.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.48%	17.43%	+3.05%

SPMO vs. ISCF - Expense Ratio Comparison

SPMO has a 0.13% expense ratio, which is lower than ISCF's 0.40% expense ratio.

Dividends

SPMO vs. ISCF - Dividend Comparison

SPMO's dividend yield for the trailing twelve months is around 0.67%, less than ISCF's 3.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ISCF iShares MSCI Intl Small-Cap Multifactor ETF	3.49%	3.76%	4.29%	3.94%	2.73%	3.93%	2.30%	2.87%	2.14%	1.97%	2.89%	1.46%
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 ISCF in my portfolio?

SPMO and ISCF have a correlation of 0.62, 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 ISCF?

SPMO has higher volatility (10.29%) compared to ISCF (5.07%). In terms of maximum drawdown, SPMO dropped -30.95% vs ISCF's -40.79%.

Which ETF is better, SPMO or ISCF?

On 10-year performance, SPMO leads with 20.86% vs 9.53% for ISCF. On fees, SPMO is cheaper at 0.13% per year. On volatility, ISCF has been the lower-risk option at 5.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPMO or ISCF?

Over the 10-year period, SPMO has performed better with a 20.86% return vs 9.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPMO or ISCF?

SPMO is cheaper with a 0.13% expense ratio, compared with 0.40% for ISCF.

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

ISCF has the higher dividend yield at 3.49%, compared with 0.67% for SPMO.

What is the main difference between SPMO and ISCF?

SPMO is categorized as Momentum, while ISCF is Foreign Small & Mid Cap Equities. SPMO tracks S&P 500 Momentum Index, while ISCF tracks MSCI World exUSA SmallCap Diversified Multi-Factor. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.13% for SPMO and 0.40% for ISCF.

Which has better risk-adjusted returns?

SPMO currently has the higher Sharpe Ratio (2.24 vs 1.31), 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.