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VDY.TO vs. SPMO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VDY.TO vs. SPMO

Last updated Jun 14, 2026

VDY.TO (Vanguard FTSE Canadian High Dividend Yield Index ETF) and SPMO (Invesco S&P 500 Momentum ETF) are both exchange-traded funds - VDY.TO is a Dividend fund tracking the FTSE Canada High Dividend Yield Index, while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. Both are passively managed. Over the past 10 years, VDY.TO returned 14.58%/yr vs 21.90%/yr for SPMO. At a 0.38 correlation, their price movements are largely independent. VDY.TO charges 0.22%/yr vs 0.13%/yr for SPMO.

Performance

VDY.TO vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO) and Invesco S&P 500 Momentum ETF (SPMO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

VDY.TO is traded in CAD, while SPMO is traded in USD. To make them comparable, the SPMO values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, VDY.TO achieves a 23.81% return, which is significantly lower than SPMO's 30.75% return. Over the past 10 years, VDY.TO has underperformed SPMO with an annualized return of 14.58%, while SPMO has yielded a comparatively higher 21.90% annualized return.

VDY.TO

1D
0.65%
1M
5.30%
YTD
23.81%
6M
23.43%
1Y
49.57%
3Y*
27.42%
5Y*
17.91%
10Y*
14.58%

SPMO

1D
1.45%
1M
5.38%
YTD
30.75%
6M
30.54%
1Y
48.91%
3Y*
43.65%
5Y*
27.12%
10Y*
21.90%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VDY.TO vs. SPMO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VDY.TO
Vanguard FTSE Canadian High Dividend Yield Index ETF		23.81%29.21%21.44%8.41%-0.23%36.60%-1.37%21.42%-10.09%8.32%
SPMO
Invesco S&P 500 Momentum ETF		30.75%20.80%58.16%14.76%-4.78%22.58%25.21%20.74%7.41%19.11%

Correlation

The correlation between VDY.TO and SPMO is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.33

Correlation (3Y)
Calculated over the trailing 3-year period

0.38

Correlation (5Y)
Calculated over the trailing 5-year period

0.46

Correlation (10Y)
Calculated over the trailing 10-year period

0.40

Correlation (All Time)
Calculated using the full available price history since Oct 12, 2015

0.38

The correlation between VDY.TO and SPMO shifts across timeframes, from 0.33 (1 year) to 0.46 (5 years), reflecting how their relationship changes across market environments.

VDY.TO vs. SPMO - Sectors Allocation Comparison

Sectors
VDY.TO
SPMO

Financial Services

56.0%
5.9%

Energy

30.8%
3.1%

Utilities

4.1%
2.5%

Consumer Cyclical

3.0%
1.2%

Communication Services

2.8%
8.2%

Basic Materials

2.2%
1.5%

Consumer Defensive

0.4%
4.1%

Technology

0.4%
54.9%

Industrials

0.2%
11.1%

Healthcare

0.1%
6.4%

Real Estate

-

1.0%

Financial Services

VDY.TO
56.0%
SPMO
5.9%

Energy

VDY.TO
30.8%
SPMO
3.1%

Utilities

VDY.TO
4.1%
SPMO
2.5%

Consumer Cyclical

VDY.TO
3.0%
SPMO
1.2%

Communication Services

VDY.TO
2.8%
SPMO
8.2%

Basic Materials

VDY.TO
2.2%
SPMO
1.5%

Consumer Defensive

VDY.TO
0.4%
SPMO
4.1%

Technology

VDY.TO
0.4%
SPMO
54.9%

Industrials

VDY.TO
0.2%
SPMO
11.1%

Healthcare

VDY.TO
0.1%
SPMO
6.4%

Real Estate

VDY.TO

-

SPMO
1.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard FTSE Canadian High Dividend Yield Index ETF

Invesco S&P 500 Momentum ETF

Often compared with VDY.TO:
VDY.TO vs. XEI.TOVDY.TO vs. XDIV.TOVDY.TO vs. VCN.TOVDY.TO vs. SCHDVDY.TO vs. XIC.TOVDY.TO vs. VCE.TOVDY.TO vs. ZDV.TO
Often compared with SPMO:
SPMO vs. VOOSPMO vs. QQQSPMO vs. SCHGSPMO vs. MTUMSPMO vs. VUGSPMO vs. VFMOSPMO vs. XMMO

Return for Risk

VDY.TO vs. SPMO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VDY.TO
VDY.TO Risk / Return Rank: 9898
Overall Rank
VDY.TO Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
VDY.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
VDY.TO Omega Ratio Rank: 9898
Omega Ratio Rank
VDY.TO Calmar Ratio Rank: 9898
Calmar Ratio Rank
VDY.TO Martin Ratio Rank: 9898
Martin Ratio Rank
SPMO
SPMO Risk / Return Rank: 7979
Overall Rank
SPMO Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
SPMO Sortino Ratio Rank: 7878
Sortino Ratio Rank
SPMO Omega Ratio Rank: 8080
Omega Ratio Rank
SPMO Calmar Ratio Rank: 7777
Calmar Ratio Rank
SPMO Martin Ratio Rank: 7878
Martin Ratio Rank
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.

VDY.TO vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO) 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.

VDY.TOSPMODifference
Sharpe ratioReturn per unit of total volatility
5.98
2.38

+3.60

Sortino ratioReturn per unit of downside risk
8.59
3.17

+5.42

Omega ratioGain probability vs. loss probability

2.21

1.43

+0.78

Calmar ratioReturn relative to maximum drawdown

15.94

3.62

+12.32

Martin ratioReturn relative to average drawdown

64.95

12.11

+52.84

VDY.TO vs. SPMO - Sharpe Ratio Comparison

The current VDY.TO Sharpe Ratio is 5.98, which is higher than the SPMO Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of VDY.TO 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.

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Drawdowns

VDY.TO vs. SPMO - Drawdown Comparison

The maximum VDY.TO drawdown since its inception was -39.21%, which is greater than SPMO's maximum drawdown of -26.80%. Use the drawdown chart below to compare losses from any high point for VDY.TO and SPMO.

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Drawdown Indicators

VDY.TOSPMODifference

Max Drawdown

Largest peak-to-trough decline

-39.21%

-26.80%

-12.41%

Max Drawdown (1Y)

Largest decline over 1 year

-3.12%

-12.95%

+9.83%

Max Drawdown (3Y)

Largest decline over 3 years

-10.38%

-21.35%

+10.97%

Max Drawdown (5Y)

Largest decline over 5 years

-16.17%

-21.43%

+5.26%

Max Drawdown (10Y)

Largest decline over 10 years

-39.21%

-26.80%

-12.41%

Current Drawdown

Current decline from peak

0.00%

-0.77%

+0.77%

Average Drawdown

Average peak-to-trough decline

-4.47%

-4.16%

-0.31%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.76%

3.87%

-3.11%

Volatility

VDY.TO vs. SPMO - Volatility Comparison

The current volatility for Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO) is 3.27%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 10.31%. This indicates that VDY.TO 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

VDY.TOSPMODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.27%

10.31%

-7.04%

Volatility (6M)

Calculated over the trailing 6-month period

6.96%

16.96%

-10.00%

Volatility (1Y)

Calculated over the trailing 1-year period

8.32%

19.72%

-11.40%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.58%

20.54%

-8.96%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.95%

21.56%

-5.61%

VDY.TO vs. SPMO - Expense Ratio Comparison

VDY.TO has a 0.22% expense ratio, which is higher than SPMO's 0.13% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VDY.TO vs. SPMO - Dividend Comparison

VDY.TO's dividend yield for the trailing twelve months is around 2.83%, more than SPMO's 0.67% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
VDY.TO
Vanguard FTSE Canadian High Dividend Yield Index ETF		2.83%3.59%4.37%4.64%4.42%3.46%4.59%4.25%4.44%3.42%3.25%4.11%

Frequently Asked Questions

VDY.TO and SPMO have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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.

SPMO is cheaper with a 0.13% expense ratio, compared with 0.22% for VDY.TO.

VDY.TO is categorized as Dividend, while SPMO is Momentum. VDY.TO tracks FTSE Canada High Dividend Yield Index, while SPMO tracks S&P 500 Momentum Index. They also come from different issuers: Vanguard and Invesco. Their fees differ too: 0.22% for VDY.TO and 0.13% for SPMO.

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