SPMO vs. VRNA

Last updated Jun 9, 2026

SPMO (Invesco S&P 500 Momentum ETF) is Momentum fund tracking the S&P 500 Momentum Index, while VRNA (Verona Pharma plc) is a stock. At a 0.18 correlation, their price movements are largely independent.

Performance

SPMO vs. VRNA - Performance Comparison

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

Returns By Period

SPMO

• 1D: 2.50%
• 1M: 2.83%
• YTD: 24.29%
• 6M: 22.86%
• 1Y: 39.53%
• 3Y*: 40.28%
• 5Y*: 23.06%
• 10Y*: 20.38%

VRNA

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

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

SPMO vs. VRNA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPMO Invesco S&P 500 Momentum ETF	24.29%	26.58%	45.82%	17.56%	-10.45%	22.64%	28.25%	25.93%	-0.92%	20.93%
VRNA Verona Pharma plc	0.00%	130.21%	133.60%	-23.92%	288.84%	-4.00%	21.74%	-40.41%	-18.71%	-12.07%

Correlation

The correlation between SPMO and VRNA is 0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.00
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.23
Correlation (All Time) Calculated using the full available price history since Apr 27, 2017	0.18

The correlation between SPMO and VRNA shifts across timeframes, from 0.00 (1 year) to 0.25 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

SPMO vs. VRNA — Risk / Return Rank

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

SPMO

SPMO Risk / Return Rank: 71
SPMO Sharpe Ratio Rank: 73
SPMO Sortino Ratio Rank: 68
SPMO Omega Ratio Rank: 73
SPMO Calmar Ratio Rank: 69
SPMO Martin Ratio Rank: 71

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. VRNA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Momentum ETF (SPMO) and Verona Pharma plc (VRNA). 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	VRNA	Difference
Sharpe ratio: Return per unit of total volatility	2.13	—	—
Sortino ratio: Return per unit of downside risk	2.81	—	—
Omega ratio: Gain probability vs. loss probability	1.39	—	—
Calmar ratio: Return relative to maximum drawdown	3.13	—	—
Martin ratio: Return relative to average drawdown	12.02	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SPMO	VRNA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.13	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.19	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.00	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.98	—	—

Drawdowns

Drawdown Indicators

	SPMO	VRNA	Difference
Max Drawdown Largest peak-to-trough decline	-30.95%	—	—
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	-4.65%	—	—
Average Drawdown Average peak-to-trough decline	-4.60%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	3.30%	—	—

Volatility

Volatility by Period

	SPMO	VRNA	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.44%	—	—
Volatility (6M) Calculated over the trailing 6-month period	15.82%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.72%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.50%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.41%	—	—

Dividends

SPMO vs. VRNA - Dividend Comparison

SPMO's dividend yield for the trailing twelve months is around 0.69%, while VRNA 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	0.69%	0.73%	0.48%	1.63%	1.66%	0.52%	1.27%	1.39%	1.05%	0.77%	1.94%	0.36%
VRNA Verona Pharma plc	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 VRNA in my portfolio?

SPMO and VRNA have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.