WBGSX vs. SPMO

Last updated Apr 1, 2026

Compare and contrast key facts about William Blair Growth Fund (WBGSX) and Invesco S&P 500 Momentum ETF (SPMO).

WBGSX is managed by William Blair. It was launched on Mar 20, 1946. SPMO is a passively managed fund by Invesco that tracks the performance of the S&P 500 Momentum Index. It was launched on Oct 9, 2015.

Performance

WBGSX vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in William Blair Growth Fund (WBGSX) and Invesco S&P 500 Momentum ETF (SPMO). The values are adjusted to include any dividend payments, if applicable.

WBGSX vs. SPMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WBGSX William Blair Growth Fund	-14.33%	10.69%	85.99%	37.75%	-29.75%	21.71%	36.12%	32.11%	4.88%	24.19%
SPMO Invesco S&P 500 Momentum ETF	-5.78%	26.58%	45.82%	17.56%	-10.45%	22.64%	28.25%	25.93%	-0.92%	27.76%

Returns By Period

In the year-to-date period, WBGSX achieves a -14.33% return, which is significantly lower than SPMO's -5.78% return. Both investments have delivered pretty close results over the past 10 years, with WBGSX having a 17.34% annualized return and SPMO not far behind at 17.16%.

WBGSX

• 1D: -0.17%
• 1M: -8.60%
• YTD: -14.33%
• 6M: -14.51%
• 1Y: 8.39%
• 3Y*: 29.23%
• 5Y*: 14.76%
• 10Y*: 17.34%

SPMO

• 1D: 3.96%
• 1M: -5.89%
• YTD: -5.78%
• 6M: -6.90%
• 1Y: 22.23%
• 3Y*: 28.36%
• 5Y*: 17.17%
• 10Y*: 17.16%

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

WBGSX vs. SPMO - Expense Ratio Comparison

WBGSX has a 1.20% expense ratio, which is higher than SPMO's 0.13% expense ratio.

WBGSX

William Blair Growth Fund

SPMO

Invesco S&P 500 Momentum ETF

Return for Risk

WBGSX vs. SPMO — Risk / Return Rank

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

WBGSX

WBGSX Risk / Return Rank: 13
WBGSX Sharpe Ratio Rank: 15
WBGSX Sortino Ratio Rank: 16
WBGSX Omega Ratio Rank: 15
WBGSX Calmar Ratio Rank: 10
WBGSX Martin Ratio Rank: 10

SPMO

SPMO Risk / Return Rank: 66
SPMO Sharpe Ratio Rank: 59
SPMO Sortino Ratio Rank: 62
SPMO Omega Ratio Rank: 65
SPMO Calmar Ratio Rank: 74
SPMO Martin Ratio Rank: 68

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.

WBGSX vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for William Blair Growth Fund (WBGSX) 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.

	WBGSX	SPMO	Difference
Sharpe ratio Return per unit of total volatility	0.37	0.98	-0.62
Sortino ratio Return per unit of downside risk	0.70	1.51	-0.81
Omega ratio Gain probability vs. loss probability	1.09	1.22	-0.13
Calmar ratio Return relative to maximum drawdown	0.23	1.79	-1.55
Martin ratio Return relative to average drawdown	0.72	6.36	-5.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WBGSX vs. SPMO - Sharpe Ratio Comparison

The current WBGSX Sharpe Ratio is 0.37, which is lower than the SPMO Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of WBGSX and SPMO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	WBGSX	SPMO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.37	0.98	-0.62
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	0.91	-0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	0.86	-0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.85	-0.36

Correlation

The correlation between WBGSX and SPMO is 0.76, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

WBGSX vs. SPMO - Dividend Comparison

WBGSX's dividend yield for the trailing twelve months is around 51.32%, more than SPMO's 0.91% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
WBGSX William Blair Growth Fund	51.32%	43.96%	69.07%	12.73%	4.59%	14.82%	15.07%	10.27%	38.86%	38.00%	8.81%	13.92%
SPMO Invesco S&P 500 Momentum ETF	0.91%	0.73%	0.48%	1.63%	1.66%	0.52%	1.27%	1.39%	1.05%	0.77%	1.94%	0.36%

Drawdowns

WBGSX vs. SPMO - Drawdown Comparison

The maximum WBGSX drawdown since its inception was -53.05%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for WBGSX and SPMO.

Drawdown Indicators

	WBGSX	SPMO	Difference
Max Drawdown Largest peak-to-trough decline	-53.05%	-30.95%	-22.10%
Max Drawdown (1Y) Largest decline over 1 year	-19.70%	-12.70%	-7.00%
Max Drawdown (5Y) Largest decline over 5 years	-36.90%	-22.74%	-14.16%
Max Drawdown (10Y) Largest decline over 10 years	-36.90%	-30.95%	-5.95%
Current Drawdown Current decline from peak	-19.70%	-9.24%	-10.46%
Average Drawdown Average peak-to-trough decline	-11.53%	-4.66%	-6.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.36%	3.57%	+2.79%

Volatility

WBGSX vs. SPMO - Volatility Comparison

The current volatility for William Blair Growth Fund (WBGSX) is 5.49%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 6.82%. This indicates that WBGSX 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.

Volatility by Period

	WBGSX	SPMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.49%	6.82%	-1.33%
Volatility (6M) Calculated over the trailing 6-month period	12.56%	12.62%	-0.06%
Volatility (1Y) Calculated over the trailing 1-year period	22.60%	22.68%	-0.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.93%	19.06%	+12.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.42%	20.08%	+6.34%