SPMO vs. ORLY

Last updated Jul 25, 2026

SPMO (Invesco S&P 500 Momentum ETF) is Momentum fund tracking the S&P 500 Momentum Index, while ORLY (O'Reilly Automotive, Inc.) is a stock. Over the past 10 years, SPMO returned 19.79%/yr vs 16.62%/yr for ORLY. At a 0.27 correlation, their price movements are largely independent.

Performance

SPMO vs. ORLY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Momentum ETF (SPMO) and O'Reilly Automotive, Inc. (ORLY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPMO achieves a 23.32% return, which is significantly higher than ORLY's -4.18% return. Over the past 10 years, SPMO has outperformed ORLY with an annualized return of 19.79%, while ORLY has yielded a comparatively lower 16.62% annualized return.

SPMO

• 1D: -2.22%
• 1M: -4.73%
• 6M: 24.79%
• YTD: 23.32%
• 1Y: 29.21%
• 3Y*: 38.09%
• 5Y*: 20.44%
• 10Y*: 19.79%
• ALL TIME*: 19.17%

ORLY

• 1D: 1.50%
• 1M: -0.48%
• 6M: -11.92%
• YTD: -4.18%
• 1Y: -10.96%
• 3Y*: 10.78%
• 5Y*: 16.12%
• 10Y*: 16.62%
• ALL TIME*: 20.82%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ORLY O'Reilly Automotive, Inc.	$674.13M	$788.17M	$683.45M
SPMO Invesco S&P 500 Momentum ETF	$324.89M	$353.39M	$337.35M

SPMO vs. ORLY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPMO Invesco S&P 500 Momentum ETF	23.32%	26.58%	45.82%	17.56%	-10.45%	22.64%	28.25%	25.93%	-0.92%	27.76%
ORLY O'Reilly Automotive, Inc.	-4.18%	15.38%	24.81%	12.56%	19.51%	56.05%	3.27%	27.28%	43.15%	-13.60%

Correlation

The correlation between SPMO and ORLY is -0.15, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (10Y) Calculated over the trailing 10-year period	0.28
Correlation (All Time) Calculated using the full available price history since Oct 12, 2015	0.27

The correlation between SPMO and ORLY shifts across timeframes, from -0.15 (1 year) to 0.28 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

SPMO vs. ORLY — Risk / Return Rank

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

SPMO

SPMO Risk / Return Rank: 58
SPMO Sharpe Ratio Rank: 54
SPMO Sortino Ratio Rank: 51
SPMO Omega Ratio Rank: 55
SPMO Calmar Ratio Rank: 66
SPMO Martin Ratio Rank: 62

ORLY

ORLY Risk / Return Rank: 27
ORLY Sharpe Ratio Rank: 27
ORLY Sortino Ratio Rank: 25
ORLY Omega Ratio Rank: 25
ORLY Calmar Ratio Rank: 30
ORLY Martin Ratio Rank: 29

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. ORLY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Momentum ETF (SPMO) and O'Reilly Automotive, Inc. (ORLY). 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	ORLY	Difference
Sharpe ratio: Return per unit of total volatility	1.28	-0.44	+1.72
Sortino ratio: Return per unit of downside risk	1.80	-0.49	+2.29
Omega ratio: Gain probability vs. loss probability	1.24	0.94	+0.30
Calmar ratio: Return relative to maximum drawdown	2.31	-0.47	+2.78
Martin ratio: Return relative to average drawdown	7.48	-0.88	+8.36

SPMO vs. ORLY - Sharpe Ratio Comparison

The current SPMO Sharpe Ratio is 1.28, which is higher than the ORLY Sharpe Ratio of -0.44. The chart below compares the historical Sharpe Ratios of SPMO and ORLY, 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. ORLY - Drawdown Comparison

The maximum SPMO drawdown since its inception was -30.95%, smaller than the maximum ORLY drawdown of -65.42%. Use the drawdown chart below to compare losses from any high point for SPMO and ORLY.

Drawdown Indicators

	SPMO	ORLY	Difference
Max Drawdown Largest peak-to-trough decline	-30.95%	-65.42%	+34.47%
Max Drawdown (1Y) Largest decline over 1 year	-12.70%	-23.27%	+10.57%
Max Drawdown (3Y) Largest decline over 3 years	-20.13%	-23.27%	+3.14%
Max Drawdown (5Y) Largest decline over 5 years	-22.74%	-23.27%	+0.53%
Max Drawdown (10Y) Largest decline over 10 years	-30.95%	-42.00%	+11.05%
Current Drawdown Current decline from peak	-9.37%	-18.94%	+9.57%
Average Drawdown Average peak-to-trough decline	-4.60%	-10.81%	+6.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.92%	12.49%	-8.57%

Volatility

SPMO vs. ORLY - Volatility Comparison

The current volatility for Invesco S&P 500 Momentum ETF (SPMO) is 10.98%, while O'Reilly Automotive, Inc. (ORLY) has a volatility of 12.24%. This indicates that SPMO experiences smaller price fluctuations and is considered to be less risky than ORLY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPMO	ORLY	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.98%	12.24%	-1.26%
Volatility (6M) Calculated over the trailing 6-month period	20.46%	20.89%	-0.43%
Volatility (1Y) Calculated over the trailing 1-year period	22.93%	25.12%	-2.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.39%	23.22%	-2.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.81%	26.79%	-5.98%

Dividends

SPMO vs. ORLY - Dividend Comparison

SPMO's dividend yield for the trailing twelve months is around 0.72%, while ORLY has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ORLY O'Reilly Automotive, Inc.	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	0.72%	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 ORLY in my portfolio?

SPMO and ORLY have a correlation of -0.15, 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 ORLY?

ORLY has higher volatility (12.24%) compared to SPMO (10.98%). In terms of maximum drawdown, SPMO dropped -30.95% vs ORLY's -65.42%.

Which has better risk-adjusted returns?

SPMO currently has the higher Sharpe Ratio (1.28 vs -0.44), 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.