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SPMO vs. XQQ.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPMO vs. XQQ.TO

Last updated Jun 13, 2026

SPMO (Invesco S&P 500 Momentum ETF) and XQQ.TO (iShares NASDAQ 100 Index ETF (CAD-Hedged)) are both exchange-traded funds - SPMO is a Momentum fund tracking the S&P 500 Momentum Index, while XQQ.TO is a Nasdaq-100 fund tracking the Morningstar US Market TR CAD. Both are passively managed. Over the past 10 years, SPMO returned 20.86%/yr vs 19.19%/yr for XQQ.TO. A 0.69 correlation means they provide meaningful diversification when combined. SPMO charges 0.13%/yr vs 0.39%/yr for XQQ.TO.

Performance

SPMO vs. XQQ.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 NASDAQ 100 Index ETF (CAD-Hedged) (XQQ.TO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

SPMO is traded in USD, while XQQ.TO is traded in CAD. To make them comparable, the XQQ.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 XQQ.TO's 13.63% return. Over the past 10 years, SPMO has outperformed XQQ.TO with an annualized return of 20.86%, while XQQ.TO has yielded a comparatively lower 19.19% annualized 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%

XQQ.TO

1D
0.41%
1M
-1.20%
YTD
13.63%
6M
11.99%
1Y
26.89%
3Y*
21.78%
5Y*
10.93%
10Y*
19.19%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SPMO vs. XQQ.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
XQQ.TO
iShares NASDAQ 100 Index ETF (CAD-Hedged)		13.63%21.31%14.96%56.99%-37.11%22.83%49.67%44.89%-8.97%43.10%

Correlation

The correlation between SPMO and XQQ.TO is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.78

Correlation (3Y)
Calculated over the trailing 3-year period

0.77

Correlation (5Y)
Calculated over the trailing 5-year period

0.74

Correlation (10Y)
Calculated over the trailing 10-year period

0.71

Correlation (All Time)
Calculated using the full available price history since Oct 12, 2015

0.69

The correlation between SPMO and XQQ.TO has been stable across timeframes, ranging from 0.69 to 0.78 - a consistent structural relationship.

SPMO vs. XQQ.TO - Sectors Allocation Comparison

Sectors
SPMO
XQQ.TO

Technology

54.8%
53.7%

Industrials

10.9%
3.1%

Communication Services

8.7%
15.8%

Healthcare

6.2%
4.2%

Financial Services

5.7%
0.2%

Consumer Defensive

4.0%
7.7%

Energy

3.1%
0.6%

Utilities

2.5%
1.4%

Basic Materials

1.6%
1.1%

Consumer Cyclical

1.3%
12.2%

Real Estate

0.9%
0.1%

Technology

SPMO
54.8%
XQQ.TO
53.7%

Industrials

SPMO
10.9%
XQQ.TO
3.1%

Communication Services

SPMO
8.7%
XQQ.TO
15.8%

Healthcare

SPMO
6.2%
XQQ.TO
4.2%

Financial Services

SPMO
5.7%
XQQ.TO
0.2%

Consumer Defensive

SPMO
4.0%
XQQ.TO
7.7%

Energy

SPMO
3.1%
XQQ.TO
0.6%

Utilities

SPMO
2.5%
XQQ.TO
1.4%

Basic Materials

SPMO
1.6%
XQQ.TO
1.1%

Consumer Cyclical

SPMO
1.3%
XQQ.TO
12.2%

Real Estate

SPMO
0.9%
XQQ.TO
0.1%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco S&P 500 Momentum ETF

iShares NASDAQ 100 Index ETF (CAD-Hedged)

Often compared with SPMO:
SPMO vs. VOOSPMO vs. QQQSPMO vs. SCHGSPMO vs. MTUMSPMO vs. VUGSPMO vs. VFMOSPMO vs. XMMO
Often compared with XQQ.TO:
XQQ.TO vs. QQC.TOXQQ.TO vs. VFV.TOXQQ.TO vs. HXQ.TOXQQ.TO vs. XQQU.TOXQQ.TO vs. QQQXQQ.TO vs. ZQQ.TOXQQ.TO vs. TEC.TO

Return for Risk

SPMO vs. XQQ.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPMO
SPMO Risk / Return Rank: 7979
Overall Rank
SPMO Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
SPMO Sortino Ratio Rank: 7878
Sortino Ratio Rank
SPMO Omega Ratio Rank: 8080
Omega Ratio Rank
SPMO Calmar Ratio Rank: 7777
Calmar Ratio Rank
SPMO Martin Ratio Rank: 7878
Martin Ratio Rank
XQQ.TO
XQQ.TO Risk / Return Rank: 5353
Overall Rank
XQQ.TO Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
XQQ.TO Sortino Ratio Rank: 5454
Sortino Ratio Rank
XQQ.TO Omega Ratio Rank: 5757
Omega Ratio Rank
XQQ.TO Calmar Ratio Rank: 4646
Calmar Ratio Rank
XQQ.TO Martin Ratio Rank: 4747
Martin Ratio Rank
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. XQQ.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 NASDAQ 100 Index ETF (CAD-Hedged) (XQQ.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.

SPMOXQQ.TODifference
Sharpe ratioReturn per unit of total volatility
2.24
1.50

+0.75

Sortino ratioReturn per unit of downside risk
2.98
2.00

+0.98

Omega ratioGain probability vs. loss probability

1.41

1.27

+0.14

Calmar ratioReturn relative to maximum drawdown

3.44

1.87

+1.57

Martin ratioReturn relative to average drawdown

13.01

6.84

+6.16

SPMO vs. XQQ.TO - Sharpe Ratio Comparison

The current SPMO Sharpe Ratio is 2.24, which is higher than the XQQ.TO Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of SPMO and XQQ.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.

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Drawdowns

SPMO vs. XQQ.TO - Drawdown Comparison

The maximum SPMO drawdown since its inception was -30.95%, smaller than the maximum XQQ.TO drawdown of -43.53%. Use the drawdown chart below to compare losses from any high point for SPMO and XQQ.TO.

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Drawdown Indicators

SPMOXQQ.TODifference

Max Drawdown

Largest peak-to-trough decline

-30.95%

-43.53%

+12.58%

Max Drawdown (1Y)

Largest decline over 1 year

-12.70%

-14.43%

+1.73%

Max Drawdown (3Y)

Largest decline over 3 years

-20.13%

-22.99%

+2.86%

Max Drawdown (5Y)

Largest decline over 5 years

-22.74%

-43.53%

+20.79%

Max Drawdown (10Y)

Largest decline over 10 years

-30.95%

-43.53%

+12.58%

Current Drawdown

Current decline from peak

-1.68%

-4.42%

+2.74%

Average Drawdown

Average peak-to-trough decline

-4.60%

-7.79%

+3.19%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.35%

3.94%

-0.59%

Volatility

SPMO vs. XQQ.TO - Volatility Comparison

Invesco S&P 500 Momentum ETF (SPMO) has a higher volatility of 10.29% compared to iShares NASDAQ 100 Index ETF (CAD-Hedged) (XQQ.TO) at 7.46%. This indicates that SPMO's price experiences larger fluctuations and is considered to be riskier than XQQ.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SPMOXQQ.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

10.29%

7.46%

+2.83%

Volatility (6M)

Calculated over the trailing 6-month period

16.73%

14.37%

+2.36%

Volatility (1Y)

Calculated over the trailing 1-year period

19.48%

18.06%

+1.42%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.65%

23.50%

-3.85%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.48%

23.40%

-2.92%

SPMO vs. XQQ.TO - Expense Ratio Comparison

SPMO has a 0.13% expense ratio, which is lower than XQQ.TO's 0.39% expense ratio.

Dividends

SPMO vs. XQQ.TO - Dividend Comparison

SPMO's dividend yield for the trailing twelve months is around 0.67%, more than XQQ.TO's 0.22% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
XQQ.TO
iShares NASDAQ 100 Index ETF (CAD-Hedged)		0.22%0.25%0.67%0.93%1.27%0.52%0.80%1.44%1.61%1.64%2.35%1.93%

Frequently Asked Questions

SPMO and XQQ.TO have a correlation of 0.78, 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 0.39% for XQQ.TO.

SPMO is categorized as Momentum, while XQQ.TO is Nasdaq-100. SPMO tracks S&P 500 Momentum Index, while XQQ.TO tracks Morningstar US Market TR CAD. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.13% for SPMO and 0.39% for XQQ.TO.

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