SPMO vs. TSLR

Last updated Jun 13, 2026

SPMO (Invesco S&P 500 Momentum ETF) and TSLR (GraniteShares 2x Long TSLA Daily ETF) are both exchange-traded funds - SPMO is a Momentum fund tracking the S&P 500 Momentum Index, while TSLR is a Leveraged Equities fund actively managed by GraniteShares. SPMO is passively managed, while TSLR is actively managed. Over the past year, SPMO returned 43.47% vs 19.41% for TSLR. At a 0.48 correlation, their price movements are largely independent. SPMO charges 0.13%/yr vs 1.50%/yr for TSLR.

Performance

SPMO vs. TSLR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Momentum ETF (SPMO) and GraniteShares 2x Long TSLA Daily ETF (TSLR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPMO achieves a 28.15% return, which is significantly higher than TSLR's -27.58% 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%

TSLR

• 1D: 3.62%
• 1M: -19.09%
• YTD: -27.58%
• 6M: -31.37%
• 1Y: 19.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPMO vs. TSLR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SPMO Invesco S&P 500 Momentum ETF	28.15%	26.58%	45.82%	13.61%
TSLR GraniteShares 2x Long TSLA Daily ETF	-27.58%	-25.97%	67.57%	1.69%

Correlation

The correlation between SPMO and TSLR is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (All Time) Calculated using the full available price history since Aug 22, 2023	0.48

SPMO vs. TSLR - Sectors Allocation Comparison

Sectors	SPMO	TSLR
Technology	54.8%	-
Industrials	10.9%	-
Communication Services	8.7%	-
Healthcare	6.2%	-
Financial Services	5.7%	-
Consumer Defensive	4.0%	-
Energy	3.1%	-
Utilities	2.5%	-
Basic Materials	1.6%	-
Consumer Cyclical	1.3%	66.6%
Real Estate	0.9%	-

Return for Risk

SPMO vs. TSLR — Risk / Return Rank

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

SPMO

SPMO Risk / Return Rank: 79
SPMO Sharpe Ratio Rank: 81
SPMO Sortino Ratio Rank: 78
SPMO Omega Ratio Rank: 80
SPMO Calmar Ratio Rank: 77
SPMO Martin Ratio Rank: 78

TSLR

TSLR Risk / Return Rank: 16
TSLR Sharpe Ratio Rank: 13
TSLR Sortino Ratio Rank: 20
TSLR Omega Ratio Rank: 18
TSLR Calmar Ratio Rank: 14
TSLR Martin Ratio Rank: 13

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. TSLR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Momentum ETF (SPMO) and GraniteShares 2x Long TSLA Daily ETF (TSLR). 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	TSLR	Difference
Sharpe ratio: Return per unit of total volatility	2.24	0.22	+2.02
Sortino ratio: Return per unit of downside risk	2.98	0.94	+2.04
Omega ratio: Gain probability vs. loss probability	1.41	1.11	+0.30
Calmar ratio: Return relative to maximum drawdown	3.44	0.36	+3.08
Martin ratio: Return relative to average drawdown	13.01	0.73	+12.28

SPMO vs. TSLR - Sharpe Ratio Comparison

The current SPMO Sharpe Ratio is 2.24, which is higher than the TSLR Sharpe Ratio of 0.22. The chart below compares the historical Sharpe Ratios of SPMO and TSLR, 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. TSLR - Drawdown Comparison

The maximum SPMO drawdown since its inception was -30.95%, smaller than the maximum TSLR drawdown of -82.80%. Use the drawdown chart below to compare losses from any high point for SPMO and TSLR.

Drawdown Indicators

	SPMO	TSLR	Difference
Max Drawdown Largest peak-to-trough decline	-30.95%	-82.80%	+51.85%
Max Drawdown (1Y) Largest decline over 1 year	-12.70%	-54.37%	+41.67%
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	-1.68%	-62.94%	+61.26%
Average Drawdown Average peak-to-trough decline	-4.60%	-50.31%	+45.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.35%	26.72%	-23.37%

Volatility

SPMO vs. TSLR - Volatility Comparison

The current volatility for Invesco S&P 500 Momentum ETF (SPMO) is 10.29%, while GraniteShares 2x Long TSLA Daily ETF (TSLR) has a volatility of 28.92%. This indicates that SPMO experiences smaller price fluctuations and is considered to be less risky than TSLR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPMO	TSLR	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.29%	28.92%	-18.63%
Volatility (6M) Calculated over the trailing 6-month period	16.73%	57.66%	-40.93%
Volatility (1Y) Calculated over the trailing 1-year period	19.48%	89.10%	-69.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.65%	115.61%	-95.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.48%	115.61%	-95.13%

SPMO vs. TSLR - Expense Ratio Comparison

SPMO has a 0.13% expense ratio, which is lower than TSLR's 1.50% expense ratio.

Dividends

SPMO vs. TSLR - Dividend Comparison

SPMO's dividend yield for the trailing twelve months is around 0.67%, while TSLR 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	0.67%	0.73%	0.48%	1.63%	1.66%	0.52%	1.27%	1.39%	1.05%	0.77%	1.94%	0.36%
TSLR GraniteShares 2x Long TSLA Daily 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

Can I hold both SPMO and TSLR in my portfolio?

SPMO and TSLR have a correlation of 0.49, 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 TSLR?

TSLR has higher volatility (28.92%) compared to SPMO (10.29%). In terms of maximum drawdown, SPMO dropped -30.95% vs TSLR's -82.80%.

Which ETF is better, SPMO or TSLR?

On 1-year performance, SPMO leads with 43.47% vs 19.41% for TSLR. On fees, SPMO is cheaper at 0.13% per year. On volatility, SPMO has been the lower-risk option at 10.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPMO or TSLR?

Over the 1-year period, SPMO has performed better with a 43.47% return vs 19.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPMO or TSLR?

SPMO is cheaper with a 0.13% expense ratio, compared with 1.50% for TSLR.

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

SPMO has the higher dividend yield at 0.67%, compared with 0.00% for TSLR.

What is the main difference between SPMO and TSLR?

SPMO is categorized as Momentum, while TSLR is Leveraged Equities. They also come from different issuers: Invesco and GraniteShares. Their fees differ too: 0.13% for SPMO and 1.50% for TSLR.

Which has better risk-adjusted returns?

SPMO currently has the higher Sharpe Ratio (2.24 vs 0.22), 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.