SPVM vs. VAMO
SPVM (Invesco S&P 500 Value with Momentum ETF) and VAMO (Cambria Value and Momentum ETF) are both Momentum funds. SPVM is passively managed, while VAMO is actively managed. Over the past 10 years, SPVM returned 12.34%/yr vs 5.87%/yr for VAMO. A 0.55 correlation means they provide meaningful diversification when combined. SPVM charges 0.39%/yr vs 0.65%/yr for VAMO.
Performance
SPVM vs. VAMO - Performance Comparison
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Returns By Period
In the year-to-date period, SPVM achieves a 9.93% return, which is significantly higher than VAMO's 4.39% return. Over the past 10 years, SPVM has outperformed VAMO with an annualized return of 12.34%, while VAMO has yielded a comparatively lower 5.87% annualized return.
SPVM
- 1D
- 0.76%
- 1M
- 2.61%
- YTD
- 9.93%
- 6M
- 9.00%
- 1Y
- 28.99%
- 3Y*
- 19.25%
- 5Y*
- 11.13%
- 10Y*
- 12.34%
VAMO
- 1D
- -0.39%
- 1M
- 1.34%
- YTD
- 4.39%
- 6M
- 3.05%
- 1Y
- 19.78%
- 3Y*
- 13.95%
- 5Y*
- 9.24%
- 10Y*
- 5.87%
SPVM vs. VAMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPVM Invesco S&P 500 Value with Momentum ETF | 9.93% | 20.47% | 15.64% | 5.53% | -2.10% | 28.86% | -3.18% | 29.33% | -9.17% | 14.70% |
VAMO Cambria Value and Momentum ETF | 4.39% | 16.51% | 6.11% | 5.58% | 8.55% | 32.16% | -4.92% | -4.63% | -11.43% | 3.82% |
Correlation
The correlation between SPVM and VAMO is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2015 | 0.55 |
The correlation between SPVM and VAMO shifts across timeframes, from 0.55 (all time) to 0.70 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SPVM vs. VAMO — Risk / Return Rank
SPVM
VAMO
SPVM vs. VAMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Value with Momentum ETF (SPVM) and Cambria Value and Momentum ETF (VAMO). 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.
| SPVM | VAMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.74 | ||
| Sortino ratioReturn per unit of downside risk | +1.00 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.31 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 4.43 | 3.58 | +0.86 |
| Martin ratioReturn relative to average drawdown | 16.80 | 10.28 | +6.52 |
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Drawdowns
SPVM vs. VAMO - Drawdown Comparison
The maximum SPVM drawdown since its inception was -45.35%, which is greater than VAMO's maximum drawdown of -41.84%. Use the drawdown chart below to compare losses from any high point for SPVM and VAMO.
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Drawdown Indicators
| SPVM | VAMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.35% | -41.84% | -3.51% |
Max Drawdown (1Y)Largest decline over 1 year | -6.57% | -5.55% | -1.02% |
Max Drawdown (3Y)Largest decline over 3 years | -18.66% | -11.61% | -7.05% |
Max Drawdown (5Y)Largest decline over 5 years | -19.48% | -17.25% | -2.23% |
Max Drawdown (10Y)Largest decline over 10 years | -45.35% | -41.84% | -3.51% |
Current DrawdownCurrent decline from peak | -0.87% | -1.59% | +0.72% |
Average DrawdownAverage peak-to-trough decline | -4.98% | -9.94% | +4.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.73% | 1.93% | -0.20% |
Volatility
SPVM vs. VAMO - Volatility Comparison
Invesco S&P 500 Value with Momentum ETF (SPVM) has a higher volatility of 3.27% compared to Cambria Value and Momentum ETF (VAMO) at 2.70%. This indicates that SPVM's price experiences larger fluctuations and is considered to be riskier than VAMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPVM | VAMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.27% | 2.70% | +0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 7.72% | 7.65% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.64% | 11.23% | +0.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.74% | 17.18% | -0.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.56% | 18.10% | +1.46% |
SPVM vs. VAMO - Expense Ratio Comparison
SPVM has a 0.39% expense ratio, which is lower than VAMO's 0.65% expense ratio.
Dividends
SPVM vs. VAMO - Dividend Comparison
SPVM's dividend yield for the trailing twelve months is around 2.02%, more than VAMO's 0.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPVM Invesco S&P 500 Value with Momentum ETF | 2.02% | 2.02% | 1.91% | 2.45% | 2.33% | 1.41% | 2.11% | 2.40% | 3.10% | 1.68% | 2.80% | 2.67% |
VAMO Cambria Value and Momentum ETF | 0.62% | 1.41% | 0.84% | 1.35% | 1.10% | 1.07% | 1.03% | 1.15% | 1.03% | 0.35% | 0.56% | 0.20% |
Frequently Asked Questions
SPVM and VAMO have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPVM has higher volatility (3.27%) compared to VAMO (2.70%). In terms of maximum drawdown, SPVM dropped -45.35% vs VAMO's -41.84%.
On 10-year performance, SPVM leads with 12.34% vs 5.87% for VAMO. On fees, SPVM is cheaper at 0.39% per year. On volatility, VAMO has been the lower-risk option at 2.70%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPVM has performed better with a 12.34% return vs 5.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPVM is cheaper with a 0.39% expense ratio, compared with 0.65% for VAMO.
SPVM has the higher dividend yield at 2.02%, compared with 0.62% for VAMO.
They also come from different issuers: Invesco and Cambria. Their fees differ too: 0.39% for SPVM and 0.65% for VAMO.
SPVM currently has the higher Sharpe Ratio (2.51 vs 1.77), 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.
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