SPMO vs. XGD.TO
SPMO (Invesco S&P 500 Momentum ETF) and XGD.TO (iShares S&P/TSX Global Gold Index ETF) are both exchange-traded funds - SPMO is a Momentum fund tracking the S&P 500 Momentum Index, while XGD.TO is a Gold fund tracking the S&P/TSX Global Gold Index. Both are passively managed. Over the past 10 years, SPMO returned 20.86%/yr vs 13.24%/yr for XGD.TO. At a 0.13 correlation, their price movements are largely independent. SPMO charges 0.13%/yr vs 0.61%/yr for XGD.TO.
Performance
SPMO vs. XGD.TO - Performance Comparison
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Different Trading Currencies
SPMO is traded in USD, while XGD.TO is traded in CAD. To make them comparable, the XGD.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, SPMO achieves a 28.15% return, which is significantly higher than XGD.TO's -4.15% return. Over the past 10 years, SPMO has outperformed XGD.TO with an annualized return of 20.86%, while XGD.TO has yielded a comparatively lower 13.24% annualized return.
SPMO
- 1D
- 1.26%
- 1M
- 3.36%
- YTD
- 28.15%
- 6M
- 28.70%
- 1Y
- 44.90%
- 3Y*
- 41.53%
- 5Y*
- 23.50%
- 10Y*
- 20.86%
XGD.TO
- 1D
- 2.80%
- 1M
- -14.79%
- YTD
- -4.15%
- 6M
- -2.94%
- 1Y
- 52.19%
- 3Y*
- 39.77%
- 5Y*
- 17.63%
- 10Y*
- 13.24%
SPMO vs. XGD.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPMO Invesco S&P 500 Momentum ETF | 28.15% | 26.58% | 45.82% | 17.56% | -10.45% | 22.64% | 28.25% | 25.93% | -0.92% | 27.76% |
XGD.TO iShares S&P/TSX Global Gold Index ETF | -4.15% | 156.14% | 10.29% | 6.44% | -8.90% | -5.76% | 24.05% | 46.20% | -11.54% | 8.29% |
Correlation
The correlation between SPMO and XGD.TO is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 2015 | 0.13 |
The correlation between SPMO and XGD.TO shifts across timeframes, from 0.13 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SPMO vs. XGD.TO — Risk / Return Rank
SPMO
XGD.TO
SPMO vs. XGD.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Momentum ETF (SPMO) and iShares S&P/TSX Global Gold Index ETF (XGD.TO). 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 | XGD.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.98 | ||
| Sortino ratioReturn per unit of downside risk | +1.30 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.24 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 3.44 | 1.63 | +1.81 |
| Martin ratioReturn relative to average drawdown | 13.01 | 4.62 | +8.39 |
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Drawdowns
SPMO vs. XGD.TO - Drawdown Comparison
The maximum SPMO drawdown since its inception was -30.95%, smaller than the maximum XGD.TO drawdown of -80.30%. Use the drawdown chart below to compare losses from any high point for SPMO and XGD.TO.
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Drawdown Indicators
| SPMO | XGD.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.95% | -80.30% | +49.35% |
Max Drawdown (1Y)Largest decline over 1 year | -12.70% | -34.40% | +21.70% |
Max Drawdown (3Y)Largest decline over 3 years | -20.13% | -34.40% | +14.27% |
Max Drawdown (5Y)Largest decline over 5 years | -22.74% | -44.90% | +22.16% |
Max Drawdown (10Y)Largest decline over 10 years | -30.95% | -47.12% | +16.17% |
Current DrawdownCurrent decline from peak | -1.68% | -29.14% | +27.46% |
Average DrawdownAverage peak-to-trough decline | -4.60% | -40.83% | +36.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.35% | 12.14% | -8.79% |
Volatility
SPMO vs. XGD.TO - Volatility Comparison
The current volatility for Invesco S&P 500 Momentum ETF (SPMO) is 10.29%, while iShares S&P/TSX Global Gold Index ETF (XGD.TO) has a volatility of 16.18%. This indicates that SPMO experiences smaller price fluctuations and is considered to be less risky than XGD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPMO | XGD.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.29% | 16.18% | -5.89% |
Volatility (6M)Calculated over the trailing 6-month period | 16.73% | 36.18% | -19.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.48% | 44.62% | -25.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.65% | 33.65% | -14.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.48% | 34.19% | -13.71% |
SPMO vs. XGD.TO - Expense Ratio Comparison
SPMO has a 0.13% expense ratio, which is lower than XGD.TO's 0.61% expense ratio.
Dividends
SPMO vs. XGD.TO - Dividend Comparison
SPMO's dividend yield for the trailing twelve months is around 0.67%, more than XGD.TO's 0.64% yield.
| 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% |
XGD.TO iShares S&P/TSX Global Gold Index ETF | 0.64% | 0.62% | 0.93% | 1.49% | 1.77% | 1.38% | 0.35% | 0.54% | 0.25% | 0.14% | 0.10% | 0.57% |
Frequently Asked Questions
SPMO and XGD.TO have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPMO is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPMO is cheaper with a 0.13% expense ratio, compared with 0.61% for XGD.TO.
SPMO is categorized as Momentum, while XGD.TO is Gold. SPMO tracks S&P 500 Momentum Index, while XGD.TO tracks S&P/TSX Global Gold Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.13% for SPMO and 0.61% for XGD.TO.
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