Data as of Oct 28, 2026.
SPMO vs USMV: Differences, Returns & Fees
Over the year to Oct 28, 2026, SPMO returned +18.4% to USMV's +10.8%; 19% 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 $24.1bn for iShares MSCI USA Min Vol Factor ETF.
Pair scorecard
SPMO costs 0.02 points a year less; their one-year returns differ by 7.6 points; USMV is 1.1 times larger.
| Measure | SPMO | USMV |
|---|---|---|
| Return | ||
| Total return, 1 year | +18.4% | +10.8% |
| Drawdown | ||
| Below its high | 10.2%, high on Jun 22, 2026 | |
| Benchmark | ||
| What it tracks | S&P 500 Momentum Index | MSCI USA Minimum Volatility (USD) Index |
| Cost and size | ||
| Expense ratio | 0.13% | 0.15% |
| Net assets, as of Oct 27, 2026 | $22.3bn | $24.1bn |
| Holdings | ||
| Holdings in common | 19% | |
| Top ten holdings, share of the fund | 50.7% | 14.8% |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Oct 23, 2015 to Oct 23, 2026 · 574 weekly returnsSPMO returned more: +519.8% to +199.4%. USMV swung less: 14.4% to 19.0%. SPMO fell slightly less at its worst: −28.3% to −30.6%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | SPMO | USMV | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +519.8% | +199.4% | SPMO | Price change plus distributions, reinvested. |
| Annualized | +18.0% | +10.4% | SPMO | Total return as a yearly rate. |
| Price return | +442.9% | +145.1% | SPMO | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 19.0% | 14.4% | USMV | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 12.6% | 10.3% | USMV | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −28.3% | −30.6% | SPMO (slight) | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.84 | 0.60 | SPMO | Return above Treasury bills per unit of volatility. |
| Sortino | 1.27 | 0.85 | SPMO | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.63 | 0.34 | SPMO | Annualized return divided by the max drawdown. |
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, SPMO and USMV hold 19% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
19% in common
Only in one fund ↓
Side by side
SPMO and USMV on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
SPMO and USMV 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 USMV follows MSCI USA Minimum Volatility (USD) Index.
- Holdings in common. 19% 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 USMV +10.8% with distributions reinvested, a gap of 7.6 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.
USMV
USMV tracks the MSCI USA Min Vol Factor. Over the year to Oct 28, 2026 it returned +10.8% with distributions reinvested. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Oct 27, 2026, 93% of the fund by weight is stocks the S&P 500 also holds, across 176 positions, with the top ten at 14.8%.
Questions people ask
- Which returned more over the last year, SPMO or USMV?
- In the year to Oct 28, 2026, with distributions reinvested, SPMO returned +18.4% and USMV +10.8%.
- Which is cheaper, SPMO or USMV?
- SPMO is cheaper, by 0.02 percentage points a year. That is about $2 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 USMV, data as of Oct 28, 2026. https://etfiq.com/compare/any/spmo-vs-usmv
ETFIQ. (Oct 28, 2026). SPMO against USMV. Retrieved from https://etfiq.com/compare/any/spmo-vs-usmv
[SPMO against USMV (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/spmo-vs-usmv)
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