TD vs. SPMO
TD (The Toronto-Dominion Bank) is a stock, while SPMO (Invesco S&P 500 Momentum ETF) is Momentum fund tracking the S&P 500 Momentum Index. Over the past 10 years, TD returned 15.16%/yr vs 20.86%/yr for SPMO. At a 0.42 correlation, their price movements are largely independent.
Performance
TD vs. SPMO - Performance Comparison
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Returns By Period
In the year-to-date period, TD achieves a 26.58% return, which is significantly lower than SPMO's 28.15% return. Over the past 10 years, TD has underperformed SPMO with an annualized return of 15.16%, while SPMO has yielded a comparatively higher 20.86% annualized return.
TD
- 1D
- 0.93%
- 1M
- 9.00%
- YTD
- 26.58%
- 6M
- 30.43%
- 1Y
- 71.79%
- 3Y*
- 31.09%
- 5Y*
- 15.31%
- 10Y*
- 15.16%
SPMO
- 1D
- 1.26%
- 1M
- 6.27%
- YTD
- 28.15%
- 6M
- 28.70%
- 1Y
- 44.90%
- 3Y*
- 41.53%
- 5Y*
- 23.50%
- 10Y*
- 20.86%
TD vs. SPMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TD The Toronto-Dominion Bank | 26.58% | 85.32% | -13.40% | 5.04% | -12.19% | 41.25% | 5.58% | 17.45% | -12.10% | 22.85% |
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% |
Correlation
The correlation between TD and SPMO is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 2015 | 0.42 |
The correlation between TD and SPMO shifts across timeframes, from 0.37 (3 years) to 0.49 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
TD vs. SPMO — Risk / Return Rank
TD
SPMO
TD vs. SPMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for The Toronto-Dominion Bank (TD) and Invesco S&P 500 Momentum ETF (SPMO). 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.
| TD | SPMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.12 | ||
| Sortino ratioReturn per unit of downside risk | +2.47 | ||
| Omega ratioGain probability vs. loss probability | 1.71 | 1.41 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 9.63 | 3.44 | +6.19 |
| Martin ratioReturn relative to average drawdown | 37.58 | 13.01 | +24.57 |
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Drawdowns
TD vs. SPMO - Drawdown Comparison
The maximum TD drawdown since its inception was -64.18%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for TD and SPMO.
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Drawdown Indicators
| TD | SPMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.18% | -30.95% | -33.23% |
Max Drawdown (1Y)Largest decline over 1 year | -7.50% | -12.70% | +5.20% |
Max Drawdown (3Y)Largest decline over 3 years | -19.19% | -20.13% | +0.94% |
Max Drawdown (5Y)Largest decline over 5 years | -30.93% | -22.74% | -8.19% |
Max Drawdown (10Y)Largest decline over 10 years | -41.98% | -30.95% | -11.03% |
Current DrawdownCurrent decline from peak | 0.00% | -1.68% | +1.68% |
Average DrawdownAverage peak-to-trough decline | -11.22% | -4.60% | -6.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.92% | 3.35% | -1.43% |
Volatility
TD vs. SPMO - Volatility Comparison
The current volatility for The Toronto-Dominion Bank (TD) is 5.00%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 10.29%. This indicates that TD experiences smaller price fluctuations and is considered to be less risky than SPMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TD | SPMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.00% | 10.29% | -5.29% |
Volatility (6M)Calculated over the trailing 6-month period | 12.55% | 16.73% | -4.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.57% | 19.48% | -2.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.83% | 19.65% | +0.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.72% | 20.48% | +1.24% |
Dividends
TD vs. SPMO - Dividend Comparison
TD's dividend yield for the trailing twelve months is around 2.62%, more than SPMO's 0.67% 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% |
TD The Toronto-Dominion Bank | 2.62% | 3.17% | 5.65% | 4.80% | 4.24% | 3.27% | 4.10% | 3.89% | 4.08% | 3.03% | 3.58% | 5.11% |
Frequently Asked Questions
TD and SPMO have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPMO has higher volatility (10.29%) compared to TD (5.00%). In terms of maximum drawdown, TD dropped -64.18% vs SPMO's -30.95%.
TD currently has the higher Sharpe Ratio (4.36 vs 2.24), 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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