TECW.L vs. SPMO

Last updated Jun 5, 2026

TECW.L (SPDR MSCI World Technology UCITS ETF) and SPMO (Invesco S&P 500 Momentum ETF) are both exchange-traded funds - TECW.L is a Technology Equities fund tracking the MSCI World/Information Tech NR USD, while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. Both are passively managed. Over the past 3 years, TECW.L returned 29.52%/yr vs 38.70%/yr for SPMO. At a 0.49 correlation, their price movements are largely independent. TECW.L charges 0.30%/yr vs 0.13%/yr for SPMO.

Performance

TECW.L vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR MSCI World Technology UCITS ETF (TECW.L) and Invesco S&P 500 Momentum ETF (SPMO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

TECW.L is traded in GBP, while SPMO is traded in USD. To make them comparable, the SPMO values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, TECW.L achieves a 24.30% return, which is significantly lower than SPMO's 28.97% return.

TECW.L

• 1D: -1.91%
• 1M: 15.12%
• YTD: 24.30%
• 6M: 22.78%
• 1Y: 52.52%
• 3Y*: 29.52%
• 5Y*: —
• 10Y*: —

SPMO

• 1D: -1.46%
• 1M: 11.86%
• YTD: 28.97%
• 6M: 26.62%
• 1Y: 45.32%
• 3Y*: 38.70%
• 5Y*: 25.26%
• 10Y*: 21.67%

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

TECW.L vs. SPMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TECW.L SPDR MSCI World Technology UCITS ETF	24.30%	13.84%	36.32%	46.35%	-17.74%
SPMO Invesco S&P 500 Momentum ETF	28.97%	17.56%	48.36%	11.68%	2.01%

Correlation

The correlation between TECW.L and SPMO is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022	0.49

The correlation between TECW.L and SPMO shifts across timeframes, from 0.49 (all time) to 0.60 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

TECW.L vs. SPMO — Risk / Return Rank

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

TECW.L

TECW.L Risk / Return Rank: 70
TECW.L Sharpe Ratio Rank: 84
TECW.L Sortino Ratio Rank: 78
TECW.L Omega Ratio Rank: 75
TECW.L Calmar Ratio Rank: 64
TECW.L Martin Ratio Rank: 49

SPMO

SPMO Risk / Return Rank: 75
SPMO Sharpe Ratio Rank: 78
SPMO Sortino Ratio Rank: 76
SPMO Omega Ratio Rank: 75
SPMO Calmar Ratio Rank: 71
SPMO Martin Ratio Rank: 73

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.

TECW.L vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI World Technology UCITS ETF (TECW.L) 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.

	TECW.L	SPMO	Difference
Sharpe ratio: Return per unit of total volatility	2.71	2.68	+0.03
Sortino ratio: Return per unit of downside risk	3.46	3.48	-0.02
Omega ratio: Gain probability vs. loss probability	1.44	1.47	-0.03
Calmar ratio: Return relative to maximum drawdown	3.14	3.61	-0.47
Martin ratio: Return relative to average drawdown	8.04	11.17	-3.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TECW.L vs. SPMO - Sharpe Ratio Comparison

The current TECW.L Sharpe Ratio is 2.71, which is comparable to the SPMO Sharpe Ratio of 2.68. The chart below compares the historical Sharpe Ratios of TECW.L and SPMO, 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

	TECW.L	SPMO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.71	2.68	+0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.36	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.04	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.02	1.05	-0.03

Drawdowns

TECW.L vs. SPMO - Drawdown Comparison

The maximum TECW.L drawdown since its inception was -28.26%, which is greater than SPMO's maximum drawdown of -25.97%. Use the drawdown chart below to compare losses from any high point for TECW.L and SPMO.

Drawdown Indicators

	TECW.L	SPMO	Difference
Max Drawdown Largest peak-to-trough decline	-28.26%	-25.97%	-2.29%
Max Drawdown (1Y) Largest decline over 1 year	-16.66%	-12.62%	-4.04%
Max Drawdown (3Y) Largest decline over 3 years	-28.26%	-23.01%	-5.25%
Max Drawdown (5Y) Largest decline over 5 years	—	-23.01%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-25.97%	—
Current Drawdown Current decline from peak	-2.33%	-1.46%	-0.87%
Average Drawdown Average peak-to-trough decline	-6.15%	-4.14%	-2.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.52%	4.07%	+2.45%

Volatility

TECW.L vs. SPMO - Volatility Comparison

SPDR MSCI World Technology UCITS ETF (TECW.L) and Invesco S&P 500 Momentum ETF (SPMO) have volatilities of 6.85% and 6.92%, 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

	TECW.L	SPMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.85%	6.92%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	14.32%	13.27%	+1.05%
Volatility (1Y) Calculated over the trailing 1-year period	19.31%	16.99%	+2.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.01%	18.63%	+3.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.01%	20.82%	+1.19%

TECW.L vs. SPMO - Expense Ratio Comparison

TECW.L has a 0.30% expense ratio, which is higher than SPMO's 0.13% expense ratio.

Dividends

TECW.L vs. SPMO - Dividend Comparison

TECW.L has not paid dividends to shareholders, while SPMO's dividend yield for the trailing twelve months is around 0.66%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPMO Invesco S&P 500 Momentum ETF	0.66%	0.73%	0.48%	1.63%	1.66%	0.52%	1.27%	1.39%	1.05%	0.77%	1.94%	0.36%
TECW.L SPDR MSCI World Technology UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TECW.L and SPMO in my portfolio?

TECW.L and SPMO have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TECW.L or SPMO?

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.

Which ETF is cheaper, TECW.L or SPMO?

SPMO is cheaper with a 0.13% expense ratio, compared with 0.30% for TECW.L.

What is the main difference between TECW.L and SPMO?

TECW.L is categorized as Technology Equities, while SPMO is Momentum. TECW.L tracks MSCI World/Information Tech NR USD, while SPMO tracks S&P 500 Momentum Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.30% for TECW.L and 0.13% for SPMO.