Data as of Oct 28, 2026.
SPMO vs VFMO: Differences, Returns & Fees
Over the year to Oct 28, 2026, SPMO returned +18.4% to VFMO's +14.5%; 25% of their weight is in the same names.
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Net assets: $22.3bn on Oct 27, 2026 for Invesco S&P 500 Momentum ETF, and $1.9bn on Sep 30, 2026 for Vanguard U.S. Momentum Factor ETF.
Pair scorecard
Both cost 0.13% a year; their one-year returns differ by 3.9 points.
Points (pts) are percentage points.
| Measure | SPMO | VFMO |
|---|---|---|
| Return | ||
| Total return, 1 year | +18.4% | +14.5% |
| Drawdown | ||
| Below its high | 10.2%, high on Jun 22, 2026 | 10.0%, high on Jun 30, 2026 |
| Benchmark | ||
| What it tracks | S&P 500 Momentum Index | No index, actively managed |
| Cost and size | ||
| Expense ratio | 0.13% | 0.13% |
| Net assets, SPMO as of Oct 27, 2026 and VFMO as of Sep 30, 2026 | $22.3bn | $1.9bn |
| Holdings | ||
| Holdings in common | 25% | |
| Top ten holdings, share of the fund | 50.7% | 9.5% |
Holdings in common uses holdings dated May 31, 2026 and Oct 27, 2026. Method
Risk and return
Feb 23, 2018 to Oct 23, 2026 · 452 weekly returnsEach against its own benchmark: SPMO against VOO, Oct 23, 2015 to Oct 23, 2026; VFMO against IWV, Feb 23, 2018 to Oct 23, 2026.
SPMO returned more: +319.2% to +201.8%. SPMO swung less: 20.5% to 23.0%. SPMO fell less at its worst: −28.3% to −35.7%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | SPMO | VFMO | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +319.2% | +201.8% | SPMO | Price change plus distributions, reinvested. |
| Annualized | +17.9% | +13.6% | SPMO | Total return as a yearly rate. |
| Price return | +279.0% | +178.2% | SPMO | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 20.5% | 23.0% | SPMO | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 13.7% | 15.9% | SPMO | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −28.3% | −35.7% | SPMO | Deepest fall from a high to the low after it. |
| Upside capture | 98.9% | 112.3% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 93.8% | 105.6% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 0.98 | 1.13 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.74 | 0.81 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.77 | 0.55 | SPMO | Return above Treasury bills per unit of volatility. |
| Sortino | 1.16 | 0.80 | SPMO | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.164 | 0.112 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.63 | 0.38 | SPMO | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | VOO | IWV | The ETF each fund is measured against. | |
| Alpha | +3.8% a year | −0.4% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 1.28 | −0.13 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −2.0% to +9.5% | −7.1% to +6.3% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | 0.36 | 0.10 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 9.7% | 10.3% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 452 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, SPMO and VFMO hold 25% of their money in the same securities at the same weight. Holdings dated May 31, 2026 and Oct 27, 2026.
half
25% in common
Only in one fund ↓
Side by side
SPMO and VFMO on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
No client brief for this pair: the two funds' holdings are dated 149 days apart.
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.
Over the year to Oct 28, 2026 it returned +14.5% with distributions reinvested, against +13.3% for its benchmark, the Russell 3000 Index.
VFMO is actively managed and tracks no index. By its holdings filed for May 31, 2026, 43% of the fund by weight is stocks the S&P 500 also holds, across 704 positions, with the top ten at 9.5%. It sat 10.0% below its high of Jun 30, 2026 on Oct 28, 2026.
Questions people ask
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 VFMO, data as of Oct 28, 2026. https://etfiq.com/compare/any/spmo-vs-vfmo
ETFIQ. (Oct 28, 2026). SPMO against VFMO. Retrieved from https://etfiq.com/compare/any/spmo-vs-vfmo
[SPMO against VFMO (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/spmo-vs-vfmo)
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