Data as of Oct 28, 2026.
IWC vs SPMO: Differences, Returns & Fees
Over the year to Oct 28, 2026, IWC returned +16.5% to SPMO's +18.4%; 0% of their weight is in the same names.
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Net assets on Oct 27, 2026: $1.2bn for iShares Micro-Cap ETF and $22.3bn for Invesco S&P 500 Momentum ETF.
Pair scorecard
SPMO costs 0.47 points a year less; their one-year returns differ by 1.9 points; SPMO is 18.6 times larger.
| Measure | IWC | SPMO |
|---|---|---|
| Return | ||
| Total return, 1 year | +16.5% | +18.4% |
| Drawdown | ||
| Below its high | 9.5%, high on Aug 14, 2026 | 10.2%, high on Jun 22, 2026 |
| Benchmark | ||
| What it tracks | Russell Microcap Index | S&P 500 Momentum Index |
| Cost and size | ||
| Expense ratio | 0.60% | 0.13% |
| Net assets, as of Oct 27, 2026 | $1.2bn | $22.3bn |
| Holdings | ||
| Holdings in common | 0% | |
| Top ten holdings, share of the fund | 5.9% | 50.7% |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Oct 23, 2015 to Oct 23, 2026 · 574 weekly returnsEach against its own benchmark: IWC against IWV, Aug 26, 2005 to Oct 23, 2026; SPMO against VOO, Oct 23, 2015 to Oct 23, 2026.
SPMO returned more: +519.8% to +169.3%. SPMO swung less: 19.0% to 24.1%. SPMO fell less at its worst: −28.3% to −45.2%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | IWC | SPMO | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +169.3% | +519.8% | SPMO | Price change plus distributions, reinvested. |
| Annualized | +9.4% | +18.0% | SPMO | Total return as a yearly rate. |
| Price return | +137.2% | +442.9% | SPMO | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 24.1% | 19.0% | SPMO | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 16.7% | 12.6% | SPMO | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −45.2% | −28.3% | SPMO | Deepest fall from a high to the low after it. |
| Upside capture | 118.0% | 98.9% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 111.7% | 93.8% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 1.16 | 0.98 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.76 | 0.74 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.40 | 0.84 | SPMO | Return above Treasury bills per unit of volatility. |
| Sortino | 0.58 | 1.27 | SPMO | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.070 | 0.164 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.21 | 0.63 | SPMO | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | IWV | VOO | The ETF each fund is measured against. | |
| Alpha | −3.6% a year | +3.8% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −1.41 | 1.28 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −8.5% to +1.4% | −2.0% to +9.5% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | −0.16 | 0.36 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 12.0% | 9.7% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 574 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, IWC and SPMO hold 0% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
0% in common
Only in one fund ↓
Side by side
IWC and SPMO on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
IWC and SPMO do different jobs. What does each one do in a portfolio?
- What each follows. IWC follows Russell Microcap Index and SPMO follows S&P 500 Momentum Index.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Oct 27, 2026).
- Number of holdings. IWC holds 1,365 positions and SPMO holds 101.
Data as of Oct 28, 2026.
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Over the year to Oct 28, 2026 it returned +16.5% with distributions reinvested, against +13.3% for its benchmark, the Russell 3000 Index.
IWC tracks the Russell Microcap. The prospectus expense ratio is 0.60% a year. By its holdings published by its issuer for Oct 27, 2026, 92% of the fund by weight is stocks the S&P 500 also holds, across 1,365 positions, with the top ten at 5.9%. It sat 9.5% below its high of Aug 14, 2026 on Oct 28, 2026.
SPMO
SPMO tracks the S&P 500 Momentum. Over the year to Oct 28, 2026 it returned +18.4% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.13% a year. By its holdings published by its issuer for Oct 27, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 101 positions, with the top ten at 50.7%. It sat 10.2% below its high of Jun 22, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, IWC or SPMO?
- In the year to Oct 28, 2026, with distributions reinvested, IWC returned +16.5% and SPMO +18.4%.
- Which is cheaper, IWC or SPMO?
- SPMO is cheaper, by 0.47 percentage points a year. That is about $47 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, IWC against SPMO, data as of Oct 28, 2026. https://etfiq.com/compare/any/iwc-vs-spmo
ETFIQ. (Oct 28, 2026). IWC against SPMO. Retrieved from https://etfiq.com/compare/any/iwc-vs-spmo
[IWC against SPMO (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/iwc-vs-spmo)
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