SPMO vs. XMTM.TO

Last updated Apr 5, 2026

Compare and contrast key facts about Invesco S&P 500 Momentum ETF (SPMO) and iShares MSCI USA Momentum Factor Index ETF (XMTM.TO).

SPMO and XMTM.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPMO is a passively managed fund by Invesco that tracks the performance of the S&P 500 Momentum Index. It was launched on Oct 9, 2015. XMTM.TO is a passively managed fund by iShares that tracks the performance of the MSCI USA Momentum SR Variant Index. It was launched on Sep 4, 2019. Both SPMO and XMTM.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SPMO vs. XMTM.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Momentum ETF (SPMO) and iShares MSCI USA Momentum Factor Index ETF (XMTM.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SPMO is traded in USD, while XMTM.TO is traded in CAD. To make them comparable, the XMTM.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 -3.57% return, which is significantly lower than XMTM.TO's -2.28% return.

SPMO

• 1D: 0.21%
• 1M: -3.83%
• YTD: -3.57%
• 6M: -3.95%
• 1Y: 40.62%
• 3Y*: 28.37%
• 5Y*: 17.71%
• 10Y*: 17.43%

XMTM.TO

• 1D: -0.20%
• 1M: -2.28%
• YTD: -2.28%
• 6M: -5.45%
• 1Y: 22.98%
• 3Y*: 20.48%
• 5Y*: 9.07%
• 10Y*: —

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

SPMO vs. XMTM.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SPMO Invesco S&P 500 Momentum ETF	-3.57%	26.58%	45.82%	17.56%	-10.45%	22.64%	28.25%	3.87%
XMTM.TO iShares MSCI USA Momentum Factor Index ETF	-2.28%	19.49%	32.25%	8.91%	-20.25%	15.86%	28.29%	5.46%

Correlation

The correlation between SPMO and XMTM.TO is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined. Holding both can reduce overall portfolio volatility compared to holding either one alone.

SPMO vs. XMTM.TO - Expense Ratio Comparison

SPMO has a 0.13% expense ratio, which is lower than XMTM.TO's 0.31% expense ratio.

XMTM.TO

iShares MSCI USA Momentum Factor Index ETF

SPMO

Invesco S&P 500 Momentum ETF

Return for Risk

SPMO vs. XMTM.TO — Risk / Return Rank

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

SPMO

SPMO Risk / Return Rank: 56
SPMO Sharpe Ratio Rank: 53
SPMO Sortino Ratio Rank: 56
SPMO Omega Ratio Rank: 58
SPMO Calmar Ratio Rank: 60
SPMO Martin Ratio Rank: 54

XMTM.TO

XMTM.TO Risk / Return Rank: 32
XMTM.TO Sharpe Ratio Rank: 31
XMTM.TO Sortino Ratio Rank: 31
XMTM.TO Omega Ratio Rank: 31
XMTM.TO Calmar Ratio Rank: 37
XMTM.TO Martin Ratio Rank: 30

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. XMTM.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 MSCI USA Momentum Factor Index ETF (XMTM.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.

	SPMO	XMTM.TO	Difference
Sharpe ratio Return per unit of total volatility	1.01	0.74	+0.27
Sortino ratio Return per unit of downside risk	1.55	1.21	+0.34
Omega ratio Gain probability vs. loss probability	1.23	1.17	+0.06
Calmar ratio Return relative to maximum drawdown	1.91	1.54	+0.37
Martin ratio Return relative to average drawdown	6.68	5.30	+1.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPMO vs. XMTM.TO - Sharpe Ratio Comparison

The current SPMO Sharpe Ratio is 1.01, which is higher than the XMTM.TO Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of SPMO and XMTM.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SPMO	XMTM.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.01	0.74	+0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.93	0.45	+0.48
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.87	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	0.56	+0.30

Drawdowns

SPMO vs. XMTM.TO - Drawdown Comparison

The maximum SPMO drawdown since its inception was -30.95%, roughly equal to the maximum XMTM.TO drawdown of -32.01%. Use the drawdown chart below to compare losses from any high point for SPMO and XMTM.TO.

Drawdown Indicators

	SPMO	XMTM.TO	Difference
Max Drawdown Largest peak-to-trough decline	-30.95%	-29.01%	-1.94%
Max Drawdown (1Y) Largest decline over 1 year	-12.70%	-11.42%	-1.28%
Max Drawdown (5Y) Largest decline over 5 years	-22.74%	-29.01%	+6.27%
Max Drawdown (10Y) Largest decline over 10 years	-30.95%	—	—
Current Drawdown Current decline from peak	-7.11%	-7.33%	+0.22%
Average Drawdown Average peak-to-trough decline	-4.66%	-8.14%	+3.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.63%	4.44%	-0.81%

Volatility

SPMO vs. XMTM.TO - Volatility Comparison

Invesco S&P 500 Momentum ETF (SPMO) and iShares MSCI USA Momentum Factor Index ETF (XMTM.TO) have volatilities of 7.15% and 7.16%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPMO	XMTM.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.15%	7.16%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	12.80%	13.84%	-1.04%
Volatility (1Y) Calculated over the trailing 1-year period	22.76%	22.95%	-0.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.07%	20.11%	-1.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.08%	21.65%	-1.57%

Dividends

SPMO vs. XMTM.TO - Dividend Comparison

SPMO's dividend yield for the trailing twelve months is around 0.88%, more than XMTM.TO's 0.62% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPMO Invesco S&P 500 Momentum ETF	0.88%	0.73%	0.48%	1.63%	1.66%	0.52%	1.27%	1.39%	1.05%	0.77%	1.94%	0.36%
XMTM.TO iShares MSCI USA Momentum Factor Index ETF	0.62%	0.70%	0.62%	0.84%	1.66%	0.33%	0.64%	1.24%	0.00%	0.00%	0.00%	0.00%