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

XEU.TO vs. SPMO

Last updated Jun 4, 2026

XEU.TO (iShares MSCI Europe IMI Index ETF) and SPMO (Invesco S&P 500 Momentum ETF) are both exchange-traded funds - XEU.TO is a Europe Equities fund tracking the Morningstar Eur GR CAD, while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. Both are passively managed. Over the past 10 years, XEU.TO returned 9.77%/yr vs 21.72%/yr for SPMO. At a 0.43 correlation, their price movements are largely independent. XEU.TO charges 0.28%/yr vs 0.13%/yr for SPMO.

Performance

XEU.TO vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares MSCI Europe IMI Index ETF (XEU.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

XEU.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, XEU.TO achieves a 6.82% return, which is significantly lower than SPMO's 30.82% return. Over the past 10 years, XEU.TO has underperformed SPMO with an annualized return of 9.77%, while SPMO has yielded a comparatively higher 21.72% annualized return.

XEU.TO

1D
-0.82%
1M
5.05%
YTD
6.82%
6M
8.23%
1Y
18.70%
3Y*
17.08%
5Y*
10.84%
10Y*
9.77%

SPMO

1D
0.00%
1M
16.60%
YTD
30.82%
6M
28.84%
1Y
46.55%
3Y*
44.27%
5Y*
27.61%
10Y*
21.72%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XEU.TO vs. SPMO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XEU.TO
iShares MSCI Europe IMI Index ETF		6.82%29.40%9.36%17.36%-10.48%16.36%3.16%18.30%-8.11%18.48%
SPMO
Invesco S&P 500 Momentum ETF		32.01%20.78%58.34%14.97%-4.07%21.54%26.09%19.74%7.49%19.63%

Correlation

The correlation between XEU.TO and SPMO is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.48

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

0.42

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

0.44

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

0.45

Correlation (All Time)
Calculated using the full available price history since Oct 13, 2015

0.43

XEU.TO vs. SPMO - Sectors Allocation Comparison

Sectors
XEU.TO
SPMO

Financial Services

22.5%
5.9%

Industrials

15.6%
11.3%

Healthcare

10.5%
6.7%

Technology

8.4%
52.6%

Consumer Defensive

8.0%
4.3%

Consumer Cyclical

6.5%
1.3%

Basic Materials

5.3%
1.6%

Energy

4.0%
3.4%

Utilities

3.5%
2.8%

Communication Services

3.3%
9.2%

Real Estate

1.4%
1.0%

Financial Services

XEU.TO
22.5%
SPMO
5.9%

Industrials

XEU.TO
15.6%
SPMO
11.3%

Healthcare

XEU.TO
10.5%
SPMO
6.7%

Technology

XEU.TO
8.4%
SPMO
52.6%

Consumer Defensive

XEU.TO
8.0%
SPMO
4.3%

Consumer Cyclical

XEU.TO
6.5%
SPMO
1.3%

Basic Materials

XEU.TO
5.3%
SPMO
1.6%

Energy

XEU.TO
4.0%
SPMO
3.4%

Utilities

XEU.TO
3.5%
SPMO
2.8%

Communication Services

XEU.TO
3.3%
SPMO
9.2%

Real Estate

XEU.TO
1.4%
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.

iShares MSCI Europe IMI Index ETF

Invesco S&P 500 Momentum ETF

Often compared with XEU.TO:
XEU.TO vs. XEH.TOXEU.TO vs. XEF.TOXEU.TO vs. VE.TOXEU.TO vs. VEAXEU.TO vs. HXS.TOXEU.TO vs. XUS.TOXEU.TO vs. XDIV.TO
Often compared with SPMO:
SPMO vs. VOOSPMO vs. QQQSPMO vs. SCHGSPMO vs. MTUMSPMO vs. VUGSPMO vs. VFMOSPMO vs. XMMO

Return for Risk

XEU.TO vs. SPMO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XEU.TO
XEU.TO Risk / Return Rank: 3535
Overall Rank
XEU.TO Sharpe Ratio Rank: 3636
Sharpe Ratio Rank
XEU.TO Sortino Ratio Rank: 3636
Sortino Ratio Rank
XEU.TO Omega Ratio Rank: 3636
Omega Ratio Rank
XEU.TO Calmar Ratio Rank: 3232
Calmar Ratio Rank
XEU.TO Martin Ratio Rank: 3838
Martin Ratio Rank
SPMO
SPMO Risk / Return Rank: 7575
Overall Rank
SPMO Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
SPMO Sortino Ratio Rank: 7777
Sortino Ratio Rank
SPMO Omega Ratio Rank: 7777
Omega Ratio Rank
SPMO Calmar Ratio Rank: 7171
Calmar Ratio Rank
SPMO Martin Ratio Rank: 7373
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.

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

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe IMI Index ETF (XEU.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.

XEU.TOSPMODifference
Sharpe ratioReturn per unit of total volatility
1.32
2.72

-1.39

Sortino ratioReturn per unit of downside risk
1.90
3.67

-1.76

Omega ratioGain probability vs. loss probability

1.24

1.49

-0.25

Calmar ratioReturn relative to maximum drawdown

1.57

3.65

-2.07

Martin ratioReturn relative to average drawdown

6.06

12.23

-6.17

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XEU.TO vs. SPMO - Sharpe Ratio Comparison

The current XEU.TO Sharpe Ratio is 1.32, which is lower than the SPMO Sharpe Ratio of 2.72. The chart below compares the historical Sharpe Ratios of XEU.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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Sharpe Ratios by Period

XEU.TOSPMODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.32

2.72

-1.39

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.74

1.57

-0.83

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.61

1.14

-0.53

Sharpe Ratio (All Time)

Calculated using the full available price history

0.53

1.10

-0.57

Drawdowns

XEU.TO vs. SPMO - Drawdown Comparison

The maximum XEU.TO drawdown since its inception was -32.02%, which is greater than SPMO's maximum drawdown of -25.58%. Use the drawdown chart below to compare losses from any high point for XEU.TO and SPMO.

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Drawdown Indicators

XEU.TOSPMODifference

Max Drawdown

Largest peak-to-trough decline

-32.02%

-25.58%

-6.44%

Max Drawdown (1Y)

Largest decline over 1 year

-11.94%

-12.82%

+0.88%

Max Drawdown (3Y)

Largest decline over 3 years

-14.62%

-20.26%

+5.64%

Max Drawdown (5Y)

Largest decline over 5 years

-26.96%

-20.69%

-6.27%

Max Drawdown (10Y)

Largest decline over 10 years

-32.02%

-25.58%

-6.44%

Current Drawdown

Current decline from peak

-1.74%

0.00%

-1.74%

Average Drawdown

Average peak-to-trough decline

-5.38%

-4.14%

-1.24%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.09%

3.82%

-0.73%

Volatility

XEU.TO vs. SPMO - Volatility Comparison

The current volatility for iShares MSCI Europe IMI Index ETF (XEU.TO) is 5.16%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 7.29%. This indicates that XEU.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

XEU.TOSPMODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.16%

7.29%

-2.13%

Volatility (6M)

Calculated over the trailing 6-month period

11.85%

13.95%

-2.10%

Volatility (1Y)

Calculated over the trailing 1-year period

14.22%

17.23%

-3.01%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.72%

17.71%

-2.99%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.09%

19.10%

-3.01%

XEU.TO vs. SPMO - Expense Ratio Comparison

XEU.TO has a 0.28% expense ratio, which is higher than SPMO's 0.13% expense ratio.

Dividends

XEU.TO vs. SPMO - Dividend Comparison

XEU.TO's dividend yield for the trailing twelve months is around 2.31%, 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%
XEU.TO
iShares MSCI Europe IMI Index ETF		2.31%2.47%2.68%2.96%3.03%2.42%1.98%3.56%3.28%2.27%2.91%2.33%

Frequently Asked Questions

XEU.TO and SPMO have a correlation of 0.48, 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 0.28% for XEU.TO.

XEU.TO is categorized as Europe Equities, while SPMO is Momentum. XEU.TO tracks Morningstar Eur GR CAD, while SPMO tracks S&P 500 Momentum Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.28% for XEU.TO and 0.13% for SPMO.

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