Data as of Oct 28, 2026.
SPMO vs TOPT: Differences, Returns & Fees
Over the year to Oct 28, 2026, SPMO returned +18.4% to TOPT's +11.1%; 30% of their weight is in the same names.
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Net assets on Oct 27, 2026: $22.3bn for Invesco S&P 500 Momentum ETF and $753m for iShares Top 20 U.S. Stocks ETF.
Pair scorecard
SPMO costs 0.07 points a year less; their one-year returns differ by 7.3 points; SPMO is far larger, $22.3bn against $753m.
| Measure | SPMO | TOPT |
|---|---|---|
| Return | ||
| Total return, 1 year | +18.4% | +11.1% |
| Drawdown | ||
| Below its high | 10.2%, high on Jun 22, 2026 | |
| Benchmark | ||
| What it tracks | S&P 500 Momentum Index | S&P 500 Top 20 Select Index |
| Cost and size | ||
| Expense ratio | 0.13% | 0.20% |
| Net assets, as of Oct 27, 2026 | $22.3bn | $753m |
| Holdings | ||
| Holdings in common | 30% | |
| Top ten holdings, share of the fund | 50.7% | 71.6% |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Nov 1, 2024 to Oct 23, 2026 · 103 weekly returns · each against VOOSPMO returned more: +54.1% to +42.0%. TOPT swung less: 18.3% to 22.2%. SPMO and TOPT fell about the same at their worst: −20.0% and −20.1%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | SPMO | TOPT | VOO | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +54.1% | +42.0% | SPMO | Price change plus distributions, reinvested. | |
| Annualized | +24.4% | +19.4% | SPMO | Total return as a yearly rate. | |
| Price return | +51.7% | +40.9% | SPMO | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 22.2% | 18.3% | TOPT | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 14.0% | 11.7% | TOPT | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −20.0% | −20.1% | Tie | Deepest fall from a high to the low after it. | |
| Upside capture | 151.0% | 126.4% | 100.0% | SPMO | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 115.6% | 111.4% | 100.0% | TOPT (slight) | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 1.29 | 1.17 | 1.00 | TOPT lower | How far it moves for each 1% its benchmark moves. |
| R squared | 0.75 | 0.91 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 0.91 | 0.84 | SPMO (slight) | Return above Treasury bills per unit of volatility. | |
| Sortino | 1.45 | 1.31 | SPMO (slight) | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.158 | 0.132 | 0.127 | SPMO | Return above Treasury bills per unit of beta. |
| Calmar | 1.22 | 0.96 | SPMO | Annualized return divided by the max drawdown. | |
| Against the benchmark | |||||
| Benchmark | VOO | VOO | VOO | The ETF each fund is measured against. | |
| Alpha | +3.9% a year | +0.5% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 0.49 | 0.12 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −11.8% to +19.6% | −7.5% to +8.5% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | 0.64 | 0.42 | SPMO | Return against its benchmark per unit of tracking error. | |
| Tracking error | 11.8% | 6.2% | 0.0% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 103 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, SPMO and TOPT hold 30% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
30% in common
Only in one fund ↓
Side by side
SPMO and TOPT on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
SPMO and TOPT are built for the same job. How do they differ in cost, holdings and results?
- What each follows. SPMO follows S&P 500 Momentum Index and TOPT follows S&P 500 Top 20 Select Index.
- Holdings in common. 30% of the weight is in the same securities (holdings dated Oct 27, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 SPMO returned +18.4% and TOPT +11.1% with distributions reinvested, a gap of 7.3 points.
Data as of Oct 28, 2026.
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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.
TOPT
TOPT tracks an index. Over the year to Oct 28, 2026 it returned +11.1% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.20% 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 22 positions, with the top ten at 71.6%.
Questions people ask
- Which returned more over the last year, SPMO or TOPT?
- In the year to Oct 28, 2026, with distributions reinvested, SPMO returned +18.4% and TOPT +11.1%.
- Which is cheaper, SPMO or TOPT?
- SPMO is cheaper, by 0.07 percentage points a year. That is about $7 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, SPMO against TOPT, data as of Oct 28, 2026. https://etfiq.com/compare/any/spmo-vs-topt
ETFIQ. (Oct 28, 2026). SPMO against TOPT. Retrieved from https://etfiq.com/compare/any/spmo-vs-topt
[SPMO against TOPT (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/spmo-vs-topt)
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