SPMO vs. IWMO.MI

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco S&P 500 Momentum ETF (SPMO) and iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) (IWMO.MI).

SPMO and IWMO.MI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPMO is a passively managed fund by Invesco that tracks the performance of the S&P 500 Momentum Index. It was launched on Oct 9, 2015. IWMO.MI is a passively managed fund by iShares that tracks the performance of the MSCI World Momentum Index. It was launched on Oct 3, 2014. Both SPMO and IWMO.MI are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SPMO vs. IWMO.MI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Momentum ETF (SPMO) and iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) (IWMO.MI). The values are adjusted to include any dividend payments, if applicable.

SPMO vs. IWMO.MI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPMO Invesco S&P 500 Momentum ETF	-3.77%	26.58%	45.82%	17.56%	-10.45%	22.64%	28.25%	25.93%	-0.92%	27.76%
IWMO.MI iShares Edge MSCI World Momentum Factor UCITS ETF (Acc)	-1.82%	21.97%	31.27%	11.32%	-18.70%	14.97%	28.52%	28.37%	-4.32%	32.46%

Different Trading Currencies

SPMO is traded in USD, while IWMO.MI is traded in EUR. To make them comparable, the IWMO.MI values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, SPMO achieves a -3.77% return, which is significantly lower than IWMO.MI's -1.82% return. Over the past 10 years, SPMO has outperformed IWMO.MI with an annualized return of 17.41%, while IWMO.MI has yielded a comparatively lower 13.55% annualized return.

SPMO

• 1D: 2.13%
• 1M: -4.40%
• YTD: -3.77%
• 6M: -4.53%
• 1Y: 23.97%
• 3Y*: 29.27%
• 5Y*: 17.66%
• 10Y*: 17.41%

IWMO.MI

• 1D: 4.95%
• 1M: -3.63%
• YTD: -1.82%
• 6M: 0.17%
• 1Y: 20.96%
• 3Y*: 20.99%
• 5Y*: 9.91%
• 10Y*: 13.55%

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

SPMO vs. IWMO.MI - Expense Ratio Comparison

SPMO has a 0.13% expense ratio, which is lower than IWMO.MI'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%.

IWMO.MI

iShares Edge MSCI World Momentum Factor UCITS ETF (Acc)

SPMO

Invesco S&P 500 Momentum ETF

Return for Risk

SPMO vs. IWMO.MI — Risk / Return Rank

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

SPMO

SPMO Risk / Return Rank: 64
SPMO Sharpe Ratio Rank: 57
SPMO Sortino Ratio Rank: 60
SPMO Omega Ratio Rank: 63
SPMO Calmar Ratio Rank: 73
SPMO Martin Ratio Rank: 66

IWMO.MI

IWMO.MI Risk / Return Rank: 34
IWMO.MI Sharpe Ratio Rank: 32
IWMO.MI Sortino Ratio Rank: 32
IWMO.MI Omega Ratio Rank: 33
IWMO.MI Calmar Ratio Rank: 35
IWMO.MI Martin Ratio Rank: 41

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. IWMO.MI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Momentum ETF (SPMO) and iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) (IWMO.MI). 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	IWMO.MI	Difference
Sharpe ratio Return per unit of total volatility	1.06	1.01	+0.04
Sortino ratio Return per unit of downside risk	1.60	1.54	+0.06
Omega ratio Gain probability vs. loss probability	1.24	1.21	+0.03
Calmar ratio Return relative to maximum drawdown	1.96	1.63	+0.32
Martin ratio Return relative to average drawdown	6.90	6.78	+0.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPMO vs. IWMO.MI - Sharpe Ratio Comparison

The current SPMO Sharpe Ratio is 1.06, which is comparable to the IWMO.MI Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of SPMO and IWMO.MI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SPMO	IWMO.MI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.06	1.01	+0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.93	0.54	+0.39
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.87	0.78	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	0.71	+0.15

Correlation

The correlation between SPMO and IWMO.MI is 0.53, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

SPMO vs. IWMO.MI - Dividend Comparison

SPMO's dividend yield for the trailing twelve months is around 0.89%, while IWMO.MI has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPMO Invesco S&P 500 Momentum ETF	0.89%	0.73%	0.48%	1.63%	1.66%	0.52%	1.27%	1.39%	1.05%	0.77%	1.94%	0.36%
IWMO.MI iShares Edge MSCI World Momentum Factor UCITS ETF (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

SPMO vs. IWMO.MI - Drawdown Comparison

The maximum SPMO drawdown since its inception was -30.95%, roughly equal to the maximum IWMO.MI drawdown of -31.52%. Use the drawdown chart below to compare losses from any high point for SPMO and IWMO.MI.

Drawdown Indicators

	SPMO	IWMO.MI	Difference
Max Drawdown Largest peak-to-trough decline	-30.95%	-31.03%	+0.08%
Max Drawdown (1Y) Largest decline over 1 year	-12.70%	-13.60%	+0.90%
Max Drawdown (5Y) Largest decline over 5 years	-22.74%	-23.45%	+0.71%
Max Drawdown (10Y) Largest decline over 10 years	-30.95%	-31.03%	+0.08%
Current Drawdown Current decline from peak	-7.31%	-4.78%	-2.53%
Average Drawdown Average peak-to-trough decline	-4.66%	-5.97%	+1.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.60%	3.20%	+0.40%

Volatility

SPMO vs. IWMO.MI - Volatility Comparison

The current volatility for Invesco S&P 500 Momentum ETF (SPMO) is 7.22%, while iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) (IWMO.MI) has a volatility of 8.21%. This indicates that SPMO experiences smaller price fluctuations and is considered to be less risky than IWMO.MI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPMO	IWMO.MI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.22%	8.21%	-0.99%
Volatility (6M) Calculated over the trailing 6-month period	12.80%	13.85%	-1.05%
Volatility (1Y) Calculated over the trailing 1-year period	22.77%	20.73%	+2.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.08%	18.25%	+0.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.09%	18.09%	+2.00%