SPMO vs. SLV
SPMO (Invesco S&P 500 Momentum ETF) and SLV (iShares Silver Trust) are both exchange-traded funds - SPMO is a Momentum fund tracking the S&P 500 Momentum Index, while SLV is a Silver fund tracking the LBMA Silver Price. Both are passively managed. Over the past 10 years, SPMO returned 19.57%/yr vs 10.33%/yr for SLV. Their 0.18 correlation means their historical movements had little consistent relationship. SPMO charges 0.13%/yr vs 0.50%/yr for SLV.
Performance
SPMO vs. SLV - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SPMO achieves a 21.07% return, which is significantly higher than SLV's -18.72% return. Over the past 10 years, SPMO has outperformed SLV with an annualized return of 19.57%, while SLV has yielded a comparatively lower 10.33% annualized return.
SPMO
- 1D
- 0.29%
- 1M
- -7.40%
- 6M
- 20.51%
- YTD
- 21.07%
- 1Y
- 25.37%
- 3Y*
- 37.36%
- 5Y*
- 20.21%
- 10Y*
- 19.57%
- ALL TIME*
- 18.93%
SLV
- 1D
- -2.13%
- 1M
- -2.28%
- 6M
- -30.59%
- YTD
- -18.72%
- 1Y
- 57.14%
- 3Y*
- 32.93%
- 5Y*
- 17.25%
- 10Y*
- 10.33%
- ALL TIME*
- 7.16%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $716.70M | $772.79M | $1.26B | |
| $331.54M | $346.70M | $350.59M |
SPMO vs. SLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPMO Invesco S&P 500 Momentum ETF | 21.07% | 26.58% | 45.82% | 17.56% | -10.45% | 22.64% | 28.25% | 25.93% | -0.92% | 27.76% |
SLV iShares Silver Trust | -18.72% | 144.66% | 20.89% | -1.09% | 2.37% | -12.45% | 47.30% | 14.88% | -9.19% | 5.82% |
Correlation
The correlation between SPMO and SLV is 0.30, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.30 |
Correlation (3Y) Balances recent behavior with more history. | 0.21 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.22 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.19 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 2015 | 0.18 |
The correlation between SPMO and SLV shifts across timeframes, from 0.18 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SPMO vs. SLV — Risk / Return Rank
SPMO
SLV
SPMO vs. SLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Momentum ETF (SPMO) and iShares Silver Trust (SLV). 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 | SLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.21 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 1.10 | +0.53 |
| Martin ratioReturn relative to average drawdown | 5.93 | 2.10 | +3.84 |
Loading charts...
Drawdowns
SPMO vs. SLV - Drawdown Comparison
The maximum SPMO drawdown since its inception was -30.95%, smaller than the maximum SLV drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for SPMO and SLV.
Loading charts...
Drawdown Indicators
| SPMO | SLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.95% | -76.28% | +45.33% |
Max Drawdown (1Y)Largest decline over 1 year | -15.64% | -52.28% | +36.64% |
Max Drawdown (3Y)Largest decline over 3 years | -20.13% | -52.28% | +32.15% |
Max Drawdown (5Y)Largest decline over 5 years | -22.74% | -52.28% | +29.54% |
Max Drawdown (10Y)Largest decline over 10 years | -30.95% | -52.28% | +21.33% |
Current DrawdownCurrent decline from peak | -11.03% | -50.42% | +39.39% |
Average DrawdownAverage peak-to-trough decline | -4.62% | -44.68% | +40.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.29% | 27.31% | -23.02% |
Volatility
SPMO vs. SLV - Volatility Comparison
The current volatility for Invesco S&P 500 Momentum ETF (SPMO) is 10.53%, while iShares Silver Trust (SLV) has a volatility of 11.23%. This indicates that SPMO experiences smaller price fluctuations and is considered to be less risky than SLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SPMO | SLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.53% | 11.23% | -0.70% |
Volatility (6M)Calculated over the trailing 6-month period | 21.52% | 55.44% | -33.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.90% | 61.35% | -37.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.60% | 36.97% | -16.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.92% | 32.22% | -11.30% |
SPMO vs. SLV - Expense Ratio Comparison
SPMO has a 0.13% expense ratio, which is lower than SLV's 0.50% expense ratio.
Dividends
SPMO vs. SLV - Dividend Comparison
SPMO's dividend yield for the trailing twelve months is around 0.73%, while SLV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SLV iShares Silver Trust | 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 | 0.73% | 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 SLV have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLV has higher volatility (11.23%) compared to SPMO (10.53%). In terms of maximum drawdown, SPMO dropped -30.95% vs SLV's -76.28%.
On 10-year performance, SPMO leads with 19.57% vs 10.33% for SLV. On fees, SPMO is cheaper at 0.13% per year. On volatility, SPMO has been the lower-risk option at 10.53%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPMO has performed better with a 19.57% return vs 10.33%. 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 SLV.
SPMO has the higher dividend yield at 0.73%, compared with 0.00% for SLV.
SPMO is categorized as Momentum, while SLV is Silver. SPMO tracks S&P 500 Momentum Index, while SLV tracks LBMA Silver Price. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.13% for SPMO and 0.50% for SLV.
SPMO currently has the higher Sharpe Ratio (1.07 vs 0.94), 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.
Find the right allocation for SPMO and SLV
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer