SPMO vs. JPIB
SPMO (Invesco S&P 500 Momentum ETF) and JPIB (JPMorgan International Bond Opportunities ETF) are both exchange-traded funds - SPMO is a Momentum fund tracking the S&P 500 Momentum Index, while JPIB is a Global Bonds fund actively managed by JPMorgan. SPMO is passively managed, while JPIB is actively managed. Over the past 5 years, SPMO returned 23.50%/yr vs 2.76%/yr for JPIB. At a 0.27 correlation, their price movements are largely independent. SPMO charges 0.13%/yr vs 0.50%/yr for JPIB.
Performance
SPMO vs. JPIB - Performance Comparison
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Returns By Period
In the year-to-date period, SPMO achieves a 28.15% return, which is significantly higher than JPIB's 1.10% return.
SPMO
- 1D
- 1.26%
- 1M
- 3.36%
- YTD
- 28.15%
- 6M
- 28.70%
- 1Y
- 44.90%
- 3Y*
- 41.53%
- 5Y*
- 23.50%
- 10Y*
- 20.86%
JPIB
- 1D
- 0.17%
- 1M
- 1.08%
- YTD
- 1.10%
- 6M
- 1.62%
- 1Y
- 5.24%
- 3Y*
- 5.93%
- 5Y*
- 2.76%
- 10Y*
- —
SPMO vs. JPIB - 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% | 16.93% |
JPIB JPMorgan International Bond Opportunities ETF | 1.10% | 8.19% | 3.48% | 8.68% | -6.38% | 0.14% | 7.14% | 10.76% | -2.17% | 2.61% |
Correlation
The correlation between SPMO and JPIB 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 (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Jul 5, 2017 | 0.27 |
The correlation between SPMO and JPIB shifts across timeframes, from 0.27 (all time) to 0.43 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SPMO vs. JPIB — Risk / Return Rank
SPMO
JPIB
SPMO vs. JPIB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Momentum ETF (SPMO) and JPMorgan International Bond Opportunities ETF (JPIB). 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 | JPIB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.88 | ||
| Sortino ratioReturn per unit of downside risk | +1.05 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.27 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.44 | 1.29 | +2.15 |
| Martin ratioReturn relative to average drawdown | 13.01 | 4.42 | +8.59 |
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Drawdowns
SPMO vs. JPIB - Drawdown Comparison
The maximum SPMO drawdown since its inception was -30.95%, which is greater than JPIB's maximum drawdown of -13.13%. Use the drawdown chart below to compare losses from any high point for SPMO and JPIB.
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Drawdown Indicators
| SPMO | JPIB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.95% | -13.13% | -17.82% |
Max Drawdown (1Y)Largest decline over 1 year | -12.70% | -3.75% | -8.95% |
Max Drawdown (3Y)Largest decline over 3 years | -20.13% | -3.75% | -16.38% |
Max Drawdown (5Y)Largest decline over 5 years | -22.74% | -11.83% | -10.91% |
Max Drawdown (10Y)Largest decline over 10 years | -30.95% | — | — |
Current DrawdownCurrent decline from peak | -1.68% | -0.77% | -0.91% |
Average DrawdownAverage peak-to-trough decline | -4.60% | -1.93% | -2.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.35% | 1.09% | +2.26% |
Volatility
SPMO vs. JPIB - Volatility Comparison
Invesco S&P 500 Momentum ETF (SPMO) has a higher volatility of 10.29% compared to JPMorgan International Bond Opportunities ETF (JPIB) at 1.19%. This indicates that SPMO's price experiences larger fluctuations and is considered to be riskier than JPIB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPMO | JPIB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.29% | 1.19% | +9.10% |
Volatility (6M)Calculated over the trailing 6-month period | 16.73% | 3.07% | +13.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.48% | 3.58% | +15.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.65% | 4.12% | +15.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.48% | 4.44% | +16.04% |
SPMO vs. JPIB - Expense Ratio Comparison
SPMO has a 0.13% expense ratio, which is lower than JPIB's 0.50% expense ratio.
Dividends
SPMO vs. JPIB - Dividend Comparison
SPMO's dividend yield for the trailing twelve months is around 0.67%, less than JPIB's 5.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JPIB JPMorgan International Bond Opportunities ETF | 5.00% | 4.85% | 4.57% | 4.35% | 3.10% | 2.59% | 3.14% | 4.66% | 5.83% | 1.81% | 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 JPIB 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.
SPMO has higher volatility (10.29%) compared to JPIB (1.19%). In terms of maximum drawdown, SPMO dropped -30.95% vs JPIB's -13.13%.
On 5-year performance, SPMO leads with 23.50% vs 2.76% for JPIB. On fees, SPMO is cheaper at 0.13% per year. On volatility, JPIB has been the lower-risk option at 1.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SPMO has performed better with a 23.50% return vs 2.76%. 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 0.50% for JPIB.
JPIB has the higher dividend yield at 5.00%, compared with 0.67% for SPMO.
SPMO is categorized as Momentum, while JPIB is Global Bonds. They also come from different issuers: Invesco and JPMorgan. Their fees differ too: 0.13% for SPMO and 0.50% for JPIB.
SPMO currently has the higher Sharpe Ratio (2.24 vs 1.36), 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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