SPMO vs. TSPY
SPMO (Invesco S&P 500 Momentum ETF) and TSPY (TappAlpha S&P 500 Growth & Daily Income ETF) are both exchange-traded funds - SPMO is a Momentum fund tracking the S&P 500 Momentum Index, while TSPY is a Derivative Income fund actively managed by TappAlpha. SPMO is passively managed, while TSPY is actively managed. Over the past year, SPMO returned 37.63% vs 24.63% for TSPY. Their correlation of 0.82 suggests significant overlap in exposure. SPMO charges 0.13%/yr vs 0.68%/yr for TSPY.
Performance
SPMO vs. TSPY - Performance Comparison
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Returns By Period
In the year-to-date period, SPMO achieves a 21.26% return, which is significantly higher than TSPY's 6.01% return.
SPMO
- 1D
- -5.59%
- 1M
- 1.90%
- YTD
- 21.26%
- 6M
- 20.02%
- 1Y
- 37.63%
- 3Y*
- 39.63%
- 5Y*
- 22.50%
- 10Y*
- 20.08%
TSPY
- 1D
- -2.67%
- 1M
- 0.07%
- YTD
- 6.01%
- 6M
- 5.93%
- 1Y
- 24.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPMO vs. TSPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SPMO Invesco S&P 500 Momentum ETF | 21.26% | 26.58% | 7.63% |
TSPY TappAlpha S&P 500 Growth & Daily Income ETF | 6.01% | 17.29% | 6.14% |
Correlation
The correlation between SPMO and TSPY is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Aug 16, 2024 | 0.82 |
The correlation between SPMO and TSPY has been stable across timeframes, ranging from 0.81 to 0.82 - a consistent structural relationship.
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Return for Risk
SPMO vs. TSPY — Risk / Return Rank
SPMO
TSPY
SPMO vs. TSPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Momentum ETF (SPMO) and TappAlpha S&P 500 Growth & Daily Income ETF (TSPY). 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.
| SPMO | TSPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.39 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.98 | 2.57 | +0.41 |
| Martin ratioReturn relative to average drawdown | 11.48 | 11.40 | +0.08 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPMO | TSPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.04 | 2.07 | -0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.16 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.99 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.97 | 1.04 | -0.07 |
Drawdowns
SPMO vs. TSPY - Drawdown Comparison
The maximum SPMO drawdown since its inception was -30.95%, which is greater than TSPY's maximum drawdown of -18.02%. Use the drawdown chart below to compare losses from any high point for SPMO and TSPY.
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Drawdown Indicators
| SPMO | TSPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.95% | -18.02% | -12.93% |
Max Drawdown (1Y)Largest decline over 1 year | -12.70% | -9.63% | -3.07% |
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 DrawdownCurrent decline from peak | -6.97% | -3.05% | -3.92% |
Average DrawdownAverage peak-to-trough decline | -4.60% | -2.52% | -2.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.29% | 2.17% | +1.12% |
Volatility
SPMO vs. TSPY - Volatility Comparison
Invesco S&P 500 Momentum ETF (SPMO) has a higher volatility of 9.33% compared to TappAlpha S&P 500 Growth & Daily Income ETF (TSPY) at 3.58%. This indicates that SPMO's price experiences larger fluctuations and is considered to be riskier than TSPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPMO | TSPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.33% | 3.58% | +5.75% |
Volatility (6M)Calculated over the trailing 6-month period | 15.67% | 9.15% | +6.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.61% | 12.00% | +6.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.46% | 16.15% | +3.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.39% | 16.15% | +4.24% |
SPMO vs. TSPY - Expense Ratio Comparison
SPMO has a 0.13% expense ratio, which is lower than TSPY's 0.68% expense ratio.
Dividends
SPMO vs. TSPY - Dividend Comparison
SPMO's dividend yield for the trailing twelve months is around 0.70%, less than TSPY's 14.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPMO Invesco S&P 500 Momentum ETF | 0.70% | 0.73% | 0.48% | 1.63% | 1.66% | 0.52% | 1.27% | 1.39% | 1.05% | 0.77% | 1.94% | 0.36% |
TSPY TappAlpha S&P 500 Growth & Daily Income ETF | 14.09% | 13.69% | 3.45% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPMO and TSPY have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPMO has higher volatility (9.33%) compared to TSPY (3.58%). In terms of maximum drawdown, SPMO dropped -30.95% vs TSPY's -18.02%.
On 1-year performance, SPMO leads with 37.63% vs 24.63% for TSPY. On fees, SPMO is cheaper at 0.13% per year. On volatility, TSPY has been the lower-risk option at 3.58%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SPMO has performed better with a 37.63% return vs 24.63%. 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 0.68% for TSPY.
TSPY has the higher dividend yield at 14.09%, compared with 0.70% for SPMO.
SPMO is categorized as Momentum, while TSPY is Derivative Income. They also come from different issuers: Invesco and TappAlpha. Their fees differ too: 0.13% for SPMO and 0.68% for TSPY.
TSPY currently has the higher Sharpe Ratio (2.07 vs 2.04), 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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