VAMO vs. SPMO
VAMO (Cambria Value and Momentum ETF) and SPMO (Invesco S&P 500 Momentum ETF) are both Momentum funds. VAMO is actively managed, while SPMO is passively managed. Over the past 10 years, VAMO returned 5.87%/yr vs 21.03%/yr for SPMO. At a 0.37 correlation, their price movements are largely independent. VAMO charges 0.65%/yr vs 0.13%/yr for SPMO.
Performance
VAMO vs. SPMO - Performance Comparison
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Returns By Period
In the year-to-date period, VAMO achieves a 4.39% return, which is significantly lower than SPMO's 29.91% return. Over the past 10 years, VAMO has underperformed SPMO with an annualized return of 5.87%, while SPMO has yielded a comparatively higher 21.03% annualized return.
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%
SPMO
- 1D
- -4.53%
- 1M
- 6.65%
- YTD
- 29.91%
- 6M
- 28.13%
- 1Y
- 43.55%
- 3Y*
- 42.47%
- 5Y*
- 22.89%
- 10Y*
- 21.03%
VAMO vs. SPMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
SPMO Invesco S&P 500 Momentum ETF | 29.91% | 26.58% | 45.82% | 17.56% | -10.45% | 22.64% | 28.25% | 25.93% | -0.92% | 27.76% |
Correlation
The correlation between VAMO and SPMO is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 2015 | 0.37 |
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Return for Risk
VAMO vs. SPMO — Risk / Return Rank
VAMO
SPMO
VAMO vs. SPMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cambria Value and Momentum ETF (VAMO) 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.
| VAMO | SPMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.39 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.58 | 3.45 | +0.13 |
| Martin ratioReturn relative to average drawdown | 10.28 | 12.97 | -2.69 |
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Drawdowns
VAMO vs. SPMO - Drawdown Comparison
The maximum VAMO drawdown since its inception was -41.84%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for VAMO and SPMO.
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Drawdown Indicators
| VAMO | SPMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.84% | -30.95% | -10.89% |
Max Drawdown (1Y)Largest decline over 1 year | -5.55% | -12.70% | +7.15% |
Max Drawdown (3Y)Largest decline over 3 years | -11.61% | -20.13% | +8.52% |
Max Drawdown (5Y)Largest decline over 5 years | -17.25% | -22.74% | +5.49% |
Max Drawdown (10Y)Largest decline over 10 years | -41.84% | -30.95% | -10.89% |
Current DrawdownCurrent decline from peak | -1.59% | -4.53% | +2.94% |
Average DrawdownAverage peak-to-trough decline | -9.94% | -4.59% | -5.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.93% | 3.37% | -1.44% |
Volatility
VAMO vs. SPMO - Volatility Comparison
The current volatility for Cambria Value and Momentum ETF (VAMO) is 2.70%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 11.75%. This indicates that VAMO 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
| VAMO | SPMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.70% | 11.75% | -9.05% |
Volatility (6M)Calculated over the trailing 6-month period | 7.65% | 17.78% | -10.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.23% | 20.55% | -9.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.18% | 19.88% | -2.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.10% | 20.60% | -2.50% |
VAMO vs. SPMO - Expense Ratio Comparison
VAMO has a 0.65% expense ratio, which is higher than SPMO's 0.13% expense ratio.
Dividends
VAMO vs. SPMO - Dividend Comparison
VAMO's dividend yield for the trailing twelve months is around 0.62%, less than SPMO's 0.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPMO Invesco S&P 500 Momentum ETF | 0.68% | 0.73% | 0.48% | 1.63% | 1.66% | 0.52% | 1.27% | 1.39% | 1.05% | 0.77% | 1.94% | 0.36% |
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
VAMO and SPMO have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPMO has higher volatility (11.75%) compared to VAMO (2.70%). In terms of maximum drawdown, VAMO dropped -41.84% vs SPMO's -30.95%.
On 10-year performance, SPMO leads with 21.03% vs 5.87% for VAMO. On fees, SPMO is cheaper at 0.13% 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, SPMO has performed better with a 21.03% return vs 5.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPMO is cheaper with a 0.13% expense ratio, compared with 0.65% for VAMO.
SPMO has the higher dividend yield at 0.68%, compared with 0.62% for VAMO.
They also come from different issuers: Cambria and Invesco. Their fees differ too: 0.65% for VAMO and 0.13% for SPMO.
SPMO currently has the higher Sharpe Ratio (2.13 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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