SPMO vs. SHOP
SPMO (Invesco S&P 500 Momentum ETF) is Momentum fund tracking the S&P 500 Momentum Index, while SHOP (Shopify Inc.) is a stock. Over the past 10 years, SPMO returned 20.86%/yr vs 43.59%/yr for SHOP. At a 0.47 correlation, their price movements are largely independent.
Performance
SPMO vs. SHOP - 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 SHOP's -32.76% return. Over the past 10 years, SPMO has underperformed SHOP with an annualized return of 20.86%, while SHOP has yielded a comparatively higher 43.59% 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%
SHOP
- 1D
- -2.02%
- 1M
- 11.11%
- YTD
- -32.76%
- 6M
- -34.08%
- 1Y
- 2.75%
- 3Y*
- 19.24%
- 5Y*
- -2.79%
- 10Y*
- 43.59%
SPMO vs. SHOP - 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% |
SHOP Shopify Inc. | -32.76% | 51.39% | 36.50% | 124.43% | -74.80% | 21.68% | 184.71% | 187.17% | 37.08% | 135.60% |
Correlation
The correlation between SPMO and SHOP is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 2015 | 0.47 |
The correlation between SPMO and SHOP has been stable across timeframes, ranging from 0.45 to 0.53 - a consistent structural relationship.
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Return for Risk
SPMO vs. SHOP — Risk / Return Rank
SPMO
SHOP
SPMO vs. SHOP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Momentum ETF (SPMO) and Shopify Inc. (SHOP). 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 | SHOP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.26 | ||
| Sortino ratioReturn per unit of downside risk | +2.59 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.05 | +0.36 |
| Calmar ratioReturn relative to maximum drawdown | 3.44 | -0.02 | +3.46 |
| Martin ratioReturn relative to average drawdown | 13.01 | -0.04 | +13.05 |
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Drawdowns
SPMO vs. SHOP - Drawdown Comparison
The maximum SPMO drawdown since its inception was -30.95%, smaller than the maximum SHOP drawdown of -84.82%. Use the drawdown chart below to compare losses from any high point for SPMO and SHOP.
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Drawdown Indicators
| SPMO | SHOP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.95% | -84.82% | +53.87% |
Max Drawdown (1Y)Largest decline over 1 year | -12.70% | -46.71% | +34.01% |
Max Drawdown (3Y)Largest decline over 3 years | -20.13% | -46.71% | +26.58% |
Max Drawdown (5Y)Largest decline over 5 years | -22.74% | -84.82% | +62.08% |
Max Drawdown (10Y)Largest decline over 10 years | -30.95% | -84.82% | +53.87% |
Current DrawdownCurrent decline from peak | -1.68% | -39.53% | +37.85% |
Average DrawdownAverage peak-to-trough decline | -4.60% | -28.23% | +23.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.35% | 22.27% | -18.92% |
Volatility
SPMO vs. SHOP - Volatility Comparison
The current volatility for Invesco S&P 500 Momentum ETF (SPMO) is 10.29%, while Shopify Inc. (SHOP) has a volatility of 15.38%. This indicates that SPMO experiences smaller price fluctuations and is considered to be less risky than SHOP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPMO | SHOP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.29% | 15.38% | -5.09% |
Volatility (6M)Calculated over the trailing 6-month period | 16.73% | 43.41% | -26.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.48% | 57.03% | -37.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.65% | 65.55% | -45.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.48% | 59.07% | -38.59% |
Dividends
SPMO vs. SHOP - Dividend Comparison
SPMO's dividend yield for the trailing twelve months is around 0.67%, while SHOP has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHOP Shopify 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 | 0.67% | 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 SHOP have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SHOP has higher volatility (15.38%) compared to SPMO (10.29%). In terms of maximum drawdown, SPMO dropped -30.95% vs SHOP's -84.82%.
SPMO currently has the higher Sharpe Ratio (2.24 vs -0.02), 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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