SPMO vs. RDW
SPMO (Invesco S&P 500 Momentum ETF) is Momentum fund tracking the S&P 500 Momentum Index, while RDW (Redwire Corporation) is a stock. Over the past 3 years, SPMO returned 41.53%/yr vs 79.83%/yr for RDW. At a 0.36 correlation, their price movements are largely independent.
Performance
SPMO vs. RDW - Performance Comparison
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Returns By Period
In the year-to-date period, SPMO achieves a 28.15% return, which is significantly lower than RDW's 98.95% 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%
RDW
- 1D
- -11.53%
- 1M
- 31.94%
- YTD
- 98.95%
- 6M
- 107.41%
- 1Y
- -21.74%
- 3Y*
- 79.83%
- 5Y*
- —
- 10Y*
- —
SPMO vs. RDW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SPMO Invesco S&P 500 Momentum ETF | 28.15% | 26.58% | 45.82% | 17.56% | -10.45% | 2.12% |
RDW Redwire Corporation | 98.95% | -53.83% | 477.54% | 43.94% | -70.67% | -34.15% |
Correlation
The correlation between SPMO and RDW is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Sep 2, 2021 | 0.36 |
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Return for Risk
SPMO vs. RDW — Risk / Return Rank
SPMO
RDW
SPMO vs. RDW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Momentum ETF (SPMO) and Redwire Corporation (RDW). 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 | RDW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.43 | ||
| Sortino ratioReturn per unit of downside risk | +2.40 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.07 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 3.44 | -0.29 | +3.73 |
| Martin ratioReturn relative to average drawdown | 13.01 | -0.42 | +13.43 |
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Drawdowns
SPMO vs. RDW - Drawdown Comparison
The maximum SPMO drawdown since its inception was -30.95%, smaller than the maximum RDW drawdown of -87.26%. Use the drawdown chart below to compare losses from any high point for SPMO and RDW.
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Drawdown Indicators
| SPMO | RDW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.95% | -87.26% | +56.31% |
Max Drawdown (1Y)Largest decline over 1 year | -12.70% | -75.40% | +62.70% |
Max Drawdown (3Y)Largest decline over 3 years | -20.13% | -80.28% | +60.15% |
Max Drawdown (5Y)Largest decline over 5 years | -22.74% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -30.95% | — | — |
Current DrawdownCurrent decline from peak | -1.68% | -41.62% | +39.94% |
Average DrawdownAverage peak-to-trough decline | -4.60% | -59.30% | +54.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.35% | 51.88% | -48.53% |
Volatility
SPMO vs. RDW - Volatility Comparison
The current volatility for Invesco S&P 500 Momentum ETF (SPMO) is 10.29%, while Redwire Corporation (RDW) has a volatility of 53.68%. This indicates that SPMO experiences smaller price fluctuations and is considered to be less risky than RDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPMO | RDW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.29% | 53.68% | -43.39% |
Volatility (6M)Calculated over the trailing 6-month period | 16.73% | 94.49% | -77.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.48% | 118.63% | -99.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.65% | 96.83% | -77.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.48% | 96.83% | -76.35% |
Dividends
SPMO vs. RDW - Dividend Comparison
SPMO's dividend yield for the trailing twelve months is around 0.67%, while RDW has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RDW Redwire Corporation | 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 | 0.67% | 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 RDW have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RDW has higher volatility (53.68%) compared to SPMO (10.29%). In terms of maximum drawdown, SPMO dropped -30.95% vs RDW's -87.26%.
SPMO currently has the higher Sharpe Ratio (2.24 vs -0.18), 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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