SPMO vs. MRK
SPMO (Invesco S&P 500 Momentum ETF) is Momentum fund tracking the S&P 500 Momentum Index, while MRK (Merck & Co., Inc.) is a stock. Over the past 10 years, SPMO returned 20.86%/yr vs 11.59%/yr for MRK. At a 0.24 correlation, their price movements are largely independent.
Performance
SPMO vs. MRK - 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 MRK's 13.94% return. Over the past 10 years, SPMO has outperformed MRK with an annualized return of 20.86%, while MRK has yielded a comparatively lower 11.59% annualized 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%
MRK
- 1D
- -1.42%
- 1M
- 4.97%
- YTD
- 13.94%
- 6M
- 20.60%
- 1Y
- 50.99%
- 3Y*
- 5.87%
- 5Y*
- 12.81%
- 10Y*
- 11.59%
SPMO vs. MRK - 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% |
MRK Merck & Co., Inc. | 13.94% | 9.79% | -6.26% | 1.01% | 49.42% | 1.75% | -7.20% | 22.27% | 39.95% | -1.49% |
Correlation
The correlation between SPMO and MRK is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 2015 | 0.24 |
The correlation between SPMO and MRK shifts across timeframes, from -0.02 (1 year) to 0.25 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
SPMO vs. MRK — Risk / Return Rank
SPMO
MRK
SPMO vs. MRK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Momentum ETF (SPMO) and Merck & Co., Inc. (MRK). 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 | MRK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.33 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.44 | 4.49 | -1.05 |
| Martin ratioReturn relative to average drawdown | 13.01 | 11.22 | +1.79 |
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Drawdowns
SPMO vs. MRK - Drawdown Comparison
The maximum SPMO drawdown since its inception was -30.95%, smaller than the maximum MRK drawdown of -68.61%. Use the drawdown chart below to compare losses from any high point for SPMO and MRK.
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Drawdown Indicators
| SPMO | MRK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.95% | -68.61% | +37.66% |
Max Drawdown (1Y)Largest decline over 1 year | -12.70% | -11.37% | -1.33% |
Max Drawdown (3Y)Largest decline over 3 years | -20.13% | -43.44% | +23.31% |
Max Drawdown (5Y)Largest decline over 5 years | -22.74% | -43.44% | +20.70% |
Max Drawdown (10Y)Largest decline over 10 years | -30.95% | -43.44% | +12.49% |
Current DrawdownCurrent decline from peak | -1.68% | -5.03% | +3.35% |
Average DrawdownAverage peak-to-trough decline | -4.60% | -18.83% | +14.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.35% | 4.54% | -1.19% |
Volatility
SPMO vs. MRK - Volatility Comparison
Invesco S&P 500 Momentum ETF (SPMO) has a higher volatility of 10.29% compared to Merck & Co., Inc. (MRK) at 9.57%. This indicates that SPMO's price experiences larger fluctuations and is considered to be riskier than MRK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPMO | MRK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.29% | 9.57% | +0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 16.73% | 18.04% | -1.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.48% | 27.18% | -7.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.65% | 23.66% | -4.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.48% | 22.96% | -2.48% |
Dividends
SPMO vs. MRK - Dividend Comparison
SPMO's dividend yield for the trailing twelve months is around 0.67%, less than MRK's 2.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MRK Merck & Co., Inc. | 2.79% | 3.12% | 3.14% | 2.72% | 2.52% | 3.41% | 3.03% | 2.48% | 2.60% | 3.36% | 3.14% | 3.43% |
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 MRK have a correlation of -0.02, 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 MRK (9.57%). In terms of maximum drawdown, SPMO dropped -30.95% vs MRK's -68.61%.
SPMO currently has the higher Sharpe Ratio (2.24 vs 1.88), 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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