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

VE.TO vs. SPMO

Last updated Jul 1, 2026
See Documentation

VE.TO (Vanguard FTSE Developed Europe All Cap Index ETF) and SPMO (Invesco S&P 500 Momentum ETF) are both exchange-traded funds - VE.TO is a Europe Equities fund tracking the FTSE Developed Europe All Cap Index, while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. Both are passively managed. Over the past 10 years, VE.TO returned 10.79%/yr vs 22.72%/yr for SPMO. At a 0.42 correlation, their price movements are largely independent. VE.TO charges 0.22%/yr vs 0.13%/yr for SPMO.

Performance

VE.TO vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard FTSE Developed Europe All Cap Index ETF (VE.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

VE.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, VE.TO achieves a 11.23% return, which is significantly lower than SPMO's 41.20% return. Over the past 10 years, VE.TO has underperformed SPMO with an annualized return of 10.79%, while SPMO has yielded a comparatively higher 22.72% annualized return.

VE.TO

1D
0.41%
1M
3.63%
YTD
11.23%
6M
11.18%
1Y
22.18%
3Y*
18.80%
5Y*
11.88%
10Y*
10.79%

SPMO

1D
2.12%
1M
10.85%
YTD
41.20%
6M
40.06%
1Y
50.54%
3Y*
47.00%
5Y*
27.05%
10Y*
22.72%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VE.TO vs. SPMO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VE.TO
Vanguard FTSE Developed Europe All Cap Index ETF		11.23%29.58%10.77%16.67%-10.08%15.65%3.00%18.14%-7.96%18.82%
SPMO
Invesco S&P 500 Momentum ETF		41.08%20.80%58.16%14.76%-4.78%22.58%25.21%20.74%7.41%19.11%

Correlation

The correlation between VE.TO and SPMO is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.46

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

0.41

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

0.45

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

0.45

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

0.42

VE.TO vs. SPMO - Sectors Allocation Comparison

Sectors
VE.TO
SPMO

Financial Services

23.7%
5.7%

Industrials

19.3%
10.8%

Healthcare

12.2%
6.4%

Technology

9.4%
55.2%

Consumer Defensive

8.0%
4.0%

Consumer Cyclical

6.9%
1.2%

Basic Materials

5.7%
1.4%

Energy

4.8%
2.9%

Utilities

4.4%
2.6%

Communication Services

3.4%
7.8%

Real Estate

1.3%
1.0%

Financial Services

VE.TO
23.7%
SPMO
5.7%

Industrials

VE.TO
19.3%
SPMO
10.8%

Healthcare

VE.TO
12.2%
SPMO
6.4%

Technology

VE.TO
9.4%
SPMO
55.2%

Consumer Defensive

VE.TO
8.0%
SPMO
4.0%

Consumer Cyclical

VE.TO
6.9%
SPMO
1.2%

Basic Materials

VE.TO
5.7%
SPMO
1.4%

Energy

VE.TO
4.8%
SPMO
2.9%

Utilities

VE.TO
4.4%
SPMO
2.6%

Communication Services

VE.TO
3.4%
SPMO
7.8%

Real Estate

VE.TO
1.3%
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 Developed Europe All Cap Index ETF

Invesco S&P 500 Momentum ETF

Often compared with VE.TO:
VE.TO vs. VIU.TOVE.TO vs. XEU.TOVE.TO vs. QQQVE.TO vs. VA.TOVE.TO vs. VEAVE.TO vs. XEF.TOVE.TO vs. VXC.TO
Often compared with SPMO:
SPMO vs. VOOSPMO vs. QQQSPMO vs. SCHGSPMO vs. MTUMSPMO vs. VUGSPMO vs. VFMOSPMO vs. XMMO

Return for Risk

VE.TO vs. SPMO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VE.TO
VE.TO Risk / Return Rank: 4646
Overall Rank
VE.TO Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
VE.TO Sortino Ratio Rank: 4949
Sortino Ratio Rank
VE.TO Omega Ratio Rank: 4848
Omega Ratio Rank
VE.TO Calmar Ratio Rank: 3939
Calmar Ratio Rank
VE.TO Martin Ratio Rank: 4747
Martin Ratio Rank
SPMO
SPMO Risk / Return Rank: 7878
Overall Rank
SPMO Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
SPMO Sortino Ratio Rank: 7474
Sortino Ratio Rank
SPMO Omega Ratio Rank: 7878
Omega Ratio Rank
SPMO Calmar Ratio Rank: 8080
Calmar Ratio Rank
SPMO Martin Ratio Rank: 8080
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.

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

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed Europe All Cap Index ETF (VE.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.

VE.TOSPMODifference
Sharpe ratioReturn per unit of total volatility
1.46
2.35

-0.88

Sortino ratioReturn per unit of downside risk
2.14
3.09

-0.94

Omega ratioGain probability vs. loss probability

1.27

1.42

-0.16

Calmar ratioReturn relative to maximum drawdown

1.76

3.92

-2.17

Martin ratioReturn relative to average drawdown

6.81

13.00

-6.19

VE.TO vs. SPMO - Sharpe Ratio Comparison

The current VE.TO Sharpe Ratio is 1.46, which is lower than the SPMO Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of VE.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

VE.TO vs. SPMO - Drawdown Comparison

The maximum VE.TO drawdown since its inception was -31.66%, which is greater than SPMO's maximum drawdown of -26.80%. Use the drawdown chart below to compare losses from any high point for VE.TO and SPMO.

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Drawdown Indicators

VE.TOSPMODifference

Max Drawdown

Largest peak-to-trough decline

-31.66%

-26.80%

-4.86%

Max Drawdown (1Y)

Largest decline over 1 year

-12.68%

-12.95%

+0.27%

Max Drawdown (3Y)

Largest decline over 3 years

-14.67%

-21.35%

+6.68%

Max Drawdown (5Y)

Largest decline over 5 years

-27.25%

-21.43%

-5.82%

Max Drawdown (10Y)

Largest decline over 10 years

-31.66%

-26.80%

-4.86%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-5.56%

-4.15%

-1.41%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.27%

3.90%

-0.63%

Volatility

VE.TO vs. SPMO - Volatility Comparison

The current volatility for Vanguard FTSE Developed Europe All Cap Index ETF (VE.TO) is 4.69%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 13.17%. This indicates that VE.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

VE.TOSPMODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.69%

13.17%

-8.48%

Volatility (6M)

Calculated over the trailing 6-month period

13.13%

19.09%

-5.96%

Volatility (1Y)

Calculated over the trailing 1-year period

15.25%

21.67%

-6.42%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.15%

20.95%

-5.80%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.87%

21.78%

-5.91%

VE.TO vs. SPMO - Expense Ratio Comparison

VE.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

VE.TO vs. SPMO - Dividend Comparison

VE.TO's dividend yield for the trailing twelve months is around 2.63%, more than SPMO's 0.65% yield.

PositionTTM20252024202320222021202020192018201720162015
SPMO
Invesco S&P 500 Momentum ETF		0.65%0.73%0.48%1.63%1.66%0.52%1.27%1.39%1.05%0.77%1.94%0.36%
VE.TO
Vanguard FTSE Developed Europe All Cap Index ETF		2.63%2.58%2.97%2.97%3.19%2.97%2.41%3.79%3.57%2.22%2.33%2.47%

Frequently Asked Questions

VE.TO and SPMO have a correlation of 0.46, 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 VE.TO.

VE.TO is categorized as Europe Equities, while SPMO is Momentum. VE.TO tracks FTSE Developed Europe All Cap 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 VE.TO and 0.13% for SPMO.

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