SPOT vs. XSMO

Last updated Aug 1, 2026

SPOT (Spotify Technology S.A.) is a stock, while XSMO (Invesco S&P SmallCap Momentum ETF) is Momentum fund tracking the S&P SmallCap 600 Momentum Index. Over the past 5 years, SPOT returned 16.93%/yr vs 11.40%/yr for XSMO. Their 0.34 correlation means their historical movements had little consistent relationship.

Performance

SPOT vs. XSMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Spotify Technology S.A. (SPOT) and Invesco S&P SmallCap Momentum ETF (XSMO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPOT achieves a -13.91% return, which is significantly lower than XSMO's 20.85% return.

SPOT

• 1D: -4.34%
• 1M: 2.87%
• 6M: -0.08%
• YTD: -13.91%
• 1Y: -20.28%
• 3Y*: 49.10%
• 5Y*: 16.93%
• 10Y*: —
• ALL TIME*: 14.17%

XSMO

• 1D: -0.23%
• 1M: -4.08%
• 6M: 14.13%
• YTD: 20.85%
• 1Y: 30.10%
• 3Y*: 20.56%
• 5Y*: 11.40%
• 10Y*: 13.85%
• ALL TIME*: 9.09%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SPOT Spotify Technology S.A.	$931.26M	$810.43M	$959.57M
XSMO Invesco S&P SmallCap Momentum ETF	$20.63M	$21.90M	$21.28M

SPOT vs. XSMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SPOT Spotify Technology S.A.	-13.91%	29.80%	138.08%	138.01%	-66.27%	-25.62%	110.40%	31.76%	-31.59%
XSMO Invesco S&P SmallCap Momentum ETF	20.85%	9.80%	17.45%	21.55%	-15.44%	19.24%	21.96%	28.65%	-3.64%

Correlation

The correlation between SPOT and XSMO is -0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.04
Correlation (3Y) Balances recent behavior with more history.	0.18
Correlation (5Y) Shows whether the relationship held over a longer period.	0.32
Correlation (All Time) Calculated using the full available price history since Apr 3, 2018	0.34

The correlation between SPOT and XSMO shifts across timeframes, from -0.04 (1 year) to 0.34 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SPOT vs. XSMO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SPOT

SPOT Risk / Return Rank: 25
SPOT Sharpe Ratio Rank: 23
SPOT Sortino Ratio Rank: 23
SPOT Omega Ratio Rank: 23
SPOT Calmar Ratio Rank: 28
SPOT Martin Ratio Rank: 30

XSMO

XSMO Risk / Return Rank: 68
XSMO Sharpe Ratio Rank: 62
XSMO Sortino Ratio Rank: 65
XSMO Omega Ratio Rank: 57
XSMO Calmar Ratio Rank: 82
XSMO Martin Ratio Rank: 74

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SPOT vs. XSMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Spotify Technology S.A. (SPOT) and Invesco S&P SmallCap Momentum ETF (XSMO). 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.

	SPOT	XSMO	Difference
Sharpe ratio: Return per unit of total volatility	-0.47	1.43	-1.90
Sortino ratio: Return per unit of downside risk	-0.44	2.15	-2.59
Omega ratio: Gain probability vs. loss probability	0.95	1.25	-0.30
Calmar ratio: Return relative to maximum drawdown	-0.46	3.02	-3.48
Martin ratio: Return relative to average drawdown	-0.74	9.15	-9.90

SPOT vs. XSMO - Sharpe Ratio Comparison

The current SPOT Sharpe Ratio is -0.47, which is lower than the XSMO Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of SPOT and XSMO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SPOT vs. XSMO - Drawdown Comparison

The maximum SPOT drawdown since its inception was -80.51%, which is greater than XSMO's maximum drawdown of -58.06%. Use the drawdown chart below to compare losses from any high point for SPOT and XSMO.

Drawdown Indicators

	SPOT	XSMO	Difference
Max Drawdown Largest peak-to-trough decline	-80.51%	-58.06%	-22.45%
Max Drawdown (1Y) Largest decline over 1 year	-44.11%	-9.44%	-34.67%
Max Drawdown (3Y) Largest decline over 3 years	-46.80%	-24.76%	-22.04%
Max Drawdown (5Y) Largest decline over 5 years	-76.39%	-29.62%	-46.77%
Max Drawdown (10Y) Largest decline over 10 years	—	-39.39%	—
Current Drawdown Current decline from peak	-35.57%	-7.34%	-28.23%
Average Drawdown Average peak-to-trough decline	-30.98%	-11.07%	-19.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.21%	3.11%	+24.10%

Volatility

SPOT vs. XSMO - Volatility Comparison

Spotify Technology S.A. (SPOT) has a higher volatility of 10.13% compared to Invesco S&P SmallCap Momentum ETF (XSMO) at 5.63%. This indicates that SPOT's price experiences larger fluctuations and is considered to be riskier than XSMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPOT	XSMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.13%	5.63%	+4.50%
Volatility (6M) Calculated over the trailing 6-month period	38.00%	15.61%	+22.39%
Volatility (1Y) Calculated over the trailing 1-year period	43.58%	19.92%	+23.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.62%	22.58%	+25.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.19%	24.13%	+23.06%

Dividends

SPOT vs. XSMO - Dividend Comparison

SPOT has not paid dividends to shareholders, while XSMO's dividend yield for the trailing twelve months is around 0.55%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPOT Spotify Technology S.A.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XSMO Invesco S&P SmallCap Momentum ETF	0.55%	0.75%	0.63%	0.96%	1.19%	0.30%	0.82%	0.69%	0.66%	0.27%	0.30%	0.35%

Frequently Asked Questions

Can I hold both SPOT and XSMO in my portfolio?

SPOT and XSMO have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPOT or XSMO?

SPOT has higher volatility (10.13%) compared to XSMO (5.63%). In terms of maximum drawdown, SPOT dropped -80.51% vs XSMO's -58.06%.

Which has better risk-adjusted returns?

XSMO currently has the higher Sharpe Ratio (1.43 vs -0.47), 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.