Compare/Updated Oct 26, 2026, refreshed every trading day
SPMO vs SPY
Invesco S&P 500 Momentum ETF against State Street SPDR S&P 500 ETF: 4 years of returns, risk and today’s technical read, from Kavout’s own data.
SPMO did better over the period: $1,000 invested on October 28, 2022 would be worth $2,529 today, versus $2,052 for SPY. Its 152.9% total gain exceeded SPY’s 105.2% gain by 47.7 percentage points. The outperformance reflects SPMO’s momentum-focused exposure, which benefited from stronger-performing stocks, but it came with greater risk. SPMO’s 12-month volatility was 25.0%, compared with 12.7% for SPY, and its worst drawdown was -20.1%, versus -18.8% for SPY. SPMO also moved 1.10% for each 1% move in SPY and beat SPY in 28 of the last 48 months. SPY remains the lower-cost, more diversified option, with a 0.09% expense ratio and $809B in assets, compared with SPMO’s 0.13% expense ratio and $14B in assets.
- Price is above its 200-day average ($137); 50-day at $148.
- RSI 29, oversold. Supertrend says sell. ADX 30, so the trend is strong.
- Price is above its 200-day average ($725); 50-day at $767.
- RSI 42, neutral. Supertrend says sell. ADX 14, so the trend is weak.
Head to head
Which has returned more, SPMO or SPY?
SPMO beat SPY in 28 of the last 48 months; SPY won the other 20. The typical monthly gap was 1.84 points.
Total return by period
Which is riskier?
SPMO: Feb 13, 2025 to Apr 4, 2025; SPY: Feb 19, 2025 to Apr 8, 2025
- 0.825
- correlation of daily moves, 4 years
- 1.10
- SPMO move per 1% in SPY
- 0.785
- correlation, last 12 months
Month by month
Of the last 48 months. The typical gap was 1.84 points.
When did they diverge?
| Month | SPMO | SPY | Gap |
|---|---|---|---|
| July 2026 | -11.0% | +0.0% | -11.00 pts |
| April 2026 | +19.3% | +10.5% | +8.83 pts |
| June 2026 | +7.4% | -1.0% | +8.46 pts |
| October 2026 | -8.5% | -0.3% | -8.19 pts |
Where the numbers come from. 1000 daily adjusted closes per fund from the Kavout market-data API, dividends included. Signals and indicators are Kavout’s own, refreshed nightly. Every figure is calculated from those adjusted closes.
Holdings and fees
What do you actually own with SPMO and SPY?
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