WELX.DE vs. SPMO

Last updated Jun 5, 2026

WELX.DE (Amundi S&P Global Communication Services ESG UCITS ETF EUR Acc) and SPMO (Invesco S&P 500 Momentum ETF) are both exchange-traded funds - WELX.DE is a Communications Equities fund tracking the S&P Developed Ex-Korea LargeMidCap Sustainability Enhanced Communication Services, while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. Both are passively managed. Over the past 3 years, WELX.DE returned 21.53%/yr vs 38.49%/yr for SPMO. At a 0.37 correlation, their price movements are largely independent. WELX.DE charges 0.18%/yr vs 0.13%/yr for SPMO.

Performance

WELX.DE vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Amundi S&P Global Communication Services ESG UCITS ETF EUR Acc (WELX.DE) and Invesco S&P 500 Momentum ETF (SPMO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

WELX.DE is traded in EUR, while SPMO is traded in USD. To make them comparable, the SPMO values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, WELX.DE achieves a 2.94% return, which is significantly lower than SPMO's 29.91% return.

WELX.DE

• 1D: 0.98%
• 1M: 0.71%
• YTD: 2.94%
• 6M: 1.20%
• 1Y: 21.17%
• 3Y*: 21.53%
• 5Y*: —
• 10Y*: —

SPMO

• 1D: -1.59%
• 1M: 11.58%
• YTD: 29.91%
• 6M: 27.84%
• 1Y: 41.51%
• 3Y*: 38.49%
• 5Y*: 25.07%
• 10Y*: 20.51%

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

WELX.DE vs. SPMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
WELX.DE Amundi S&P Global Communication Services ESG UCITS ETF EUR Acc	2.94%	16.08%	35.06%	46.63%	-6.87%
SPMO Invesco S&P 500 Momentum ETF	29.91%	11.56%	55.44%	14.03%	-0.50%

Correlation

The correlation between WELX.DE 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	0.42
Correlation (All Time) Calculated using the full available price history since Oct 12, 2022	0.37

Return for Risk

WELX.DE vs. SPMO — Risk / Return Rank

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

WELX.DE

WELX.DE Risk / Return Rank: 34
WELX.DE Sharpe Ratio Rank: 38
WELX.DE Sortino Ratio Rank: 38
WELX.DE Omega Ratio Rank: 35
WELX.DE Calmar Ratio Rank: 30
WELX.DE Martin Ratio Rank: 31

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.

WELX.DE vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi S&P Global Communication Services ESG UCITS ETF EUR Acc (WELX.DE) 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.

	WELX.DE	SPMO	Difference
Sharpe ratio: Return per unit of total volatility	1.33	2.35	-1.02
Sortino ratio: Return per unit of downside risk	1.92	3.06	-1.14
Omega ratio: Gain probability vs. loss probability	1.23	1.41	-0.18
Calmar ratio: Return relative to maximum drawdown	1.42	3.59	-2.17
Martin ratio: Return relative to average drawdown	4.34	11.70	-7.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WELX.DE vs. SPMO - Sharpe Ratio Comparison

The current WELX.DE Sharpe Ratio is 1.33, which is lower than the SPMO Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of WELX.DE 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

	WELX.DE	SPMO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.33	2.35	-1.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.29	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.99	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.30	0.96	+0.35

Drawdowns

WELX.DE vs. SPMO - Drawdown Comparison

The maximum WELX.DE drawdown since its inception was -25.19%, smaller than the maximum SPMO drawdown of -32.02%. Use the drawdown chart below to compare losses from any high point for WELX.DE and SPMO.

Drawdown Indicators

	WELX.DE	SPMO	Difference
Max Drawdown Largest peak-to-trough decline	-25.19%	-32.02%	+6.83%
Max Drawdown (1Y) Largest decline over 1 year	-14.88%	-11.63%	-3.25%
Max Drawdown (3Y) Largest decline over 3 years	-25.19%	-25.02%	-0.17%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.02%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-32.02%	—
Current Drawdown Current decline from peak	-2.38%	-1.59%	-0.79%
Average Drawdown Average peak-to-trough decline	-4.32%	-4.51%	+0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.86%	3.56%	+1.30%

Volatility

WELX.DE vs. SPMO - Volatility Comparison

The current volatility for Amundi S&P Global Communication Services ESG UCITS ETF EUR Acc (WELX.DE) is 4.16%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 6.79%. This indicates that WELX.DE 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

	WELX.DE	SPMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.16%	6.79%	-2.63%
Volatility (6M) Calculated over the trailing 6-month period	10.85%	13.70%	-2.85%
Volatility (1Y) Calculated over the trailing 1-year period	15.84%	17.73%	-1.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.43%	19.48%	-1.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.43%	20.88%	-2.45%

WELX.DE vs. SPMO - Expense Ratio Comparison

WELX.DE has a 0.18% 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

WELX.DE vs. SPMO - Dividend Comparison

WELX.DE 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%
WELX.DE Amundi S&P Global Communication Services ESG UCITS ETF EUR Acc	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 WELX.DE and SPMO in my portfolio?

WELX.DE 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.

Which ETF is better, WELX.DE 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, WELX.DE or SPMO?

SPMO is cheaper with a 0.13% expense ratio, compared with 0.18% for WELX.DE.

What is the main difference between WELX.DE and SPMO?

WELX.DE is categorized as Communications Equities, while SPMO is Momentum. WELX.DE tracks S&P Developed Ex-Korea LargeMidCap Sustainability Enhanced Communication Services, while SPMO tracks S&P 500 Momentum Index. They also come from different issuers: Amundi and Invesco. Their fees differ too: 0.18% for WELX.DE and 0.13% for SPMO.