SPMO vs. SPXE

Last updated Jun 16, 2026

SPMO (Invesco S&P 500 Momentum ETF) and SPXE (ProShares S&P 500 Ex-Energy ETF) are both exchange-traded funds - SPMO is a Momentum fund tracking the S&P 500 Momentum Index, while SPXE is a S&P 500 fund tracking the S&P 500 Ex-Energy Index. Both are passively managed. SPMO charges 0.13%/yr vs 0.09%/yr for SPXE.

Performance

SPMO vs. SPXE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Momentum ETF (SPMO) and ProShares S&P 500 Ex-Energy ETF (SPXE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SPMO

• 1D: 3.52%
• 1M: 10.01%
• YTD: 32.66%
• 6M: 33.70%
• 1Y: 50.00%
• 3Y*: 43.16%
• 5Y*: 24.34%
• 10Y*: 21.24%

SPXE

• 1D: -0.21%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPMO vs. SPXE - Yearly Performance Comparison

	2026 (YTD)
SPMO Invesco S&P 500 Momentum ETF	3.52%
SPXE ProShares S&P 500 Ex-Energy ETF	-0.21%

SPMO vs. SPXE - Sectors Allocation Comparison

Sectors	SPMO	SPXE
Technology	54.9%	39.2%
Industrials	11.1%	8.1%
Communication Services	8.2%	10.7%
Healthcare	6.4%	9.0%
Financial Services	5.9%	11.9%
Consumer Defensive	4.1%	4.8%
Energy	3.1%	0.0%
Utilities	2.5%	2.6%
Basic Materials	1.5%	1.8%
Consumer Cyclical	1.2%	9.7%
Real Estate	1.0%	1.9%

Return for Risk

SPMO vs. SPXE — Risk / Return Rank

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

SPMO

SPMO Risk / Return Rank: 85
SPMO Sharpe Ratio Rank: 87
SPMO Sortino Ratio Rank: 84
SPMO Omega Ratio Rank: 86
SPMO Calmar Ratio Rank: 83
SPMO Martin Ratio Rank: 83

SPXE

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. SPXE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Momentum ETF (SPMO) and ProShares S&P 500 Ex-Energy ETF (SPXE). 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	SPXE	Difference
Sharpe ratio: Return per unit of total volatility	2.55	—	—
Sortino ratio: Return per unit of downside risk	3.34	—	—
Omega ratio: Gain probability vs. loss probability	1.46	—	—
Calmar ratio: Return relative to maximum drawdown	3.96	—	—
Martin ratio: Return relative to average drawdown	14.96	—	—

Drawdowns

SPMO vs. SPXE - Drawdown Comparison

The maximum SPMO drawdown since its inception was -30.95%, which is greater than SPXE's maximum drawdown of -0.21%. Use the drawdown chart below to compare losses from any high point for SPMO and SPXE.

Drawdown Indicators

	SPMO	SPXE	Difference
Max Drawdown Largest peak-to-trough decline	-30.95%	-0.21%	-30.74%
Max Drawdown (1Y) Largest decline over 1 year	-12.70%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-20.13%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-22.74%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-30.95%	—	—
Current Drawdown Current decline from peak	0.00%	-0.21%	+0.21%
Average Drawdown Average peak-to-trough decline	-4.60%	-0.21%	-4.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.35%	—	—

Volatility

Volatility by Period

	SPMO	SPXE	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.78%	—	—
Volatility (6M) Calculated over the trailing 6-month period	17.04%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	19.78%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.71%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.52%	—	—

SPMO vs. SPXE - Expense Ratio Comparison

SPMO has a 0.13% expense ratio, which is higher than SPXE's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SPMO vs. SPXE - Dividend Comparison

SPMO's dividend yield for the trailing twelve months is around 0.64%, while SPXE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPMO Invesco S&P 500 Momentum ETF	0.64%	0.73%	0.48%	1.63%	1.66%	0.52%	1.27%	1.39%	1.05%	0.77%	1.94%	0.36%
SPXE ProShares S&P 500 Ex-Energy ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, SPMO or SPXE?

On fees, SPXE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPMO or SPXE?

SPXE is cheaper with a 0.09% expense ratio, compared with 0.13% for SPMO.

Which ETF pays a higher dividend yield, SPMO or SPXE?

SPMO has the higher dividend yield at 0.64%, compared with 0.00% for SPXE.

What is the main difference between SPMO and SPXE?

SPMO is categorized as Momentum, while SPXE is S&P 500. SPMO tracks S&P 500 Momentum Index, while SPXE tracks S&P 500 Ex-Energy Index. They also come from different issuers: Invesco and ProShares. Their fees differ too: 0.13% for SPMO and 0.09% for SPXE.