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ETF Comparison

SCHG vs SPMO: A Large-Cap Growth Screen, or S&P 500 Momentum?

A head-to-head of Schwab U.S. Large-Cap Growth and Invesco S&P 500 Momentum covering style, cost, and construction.

Updated September 30, 2026

How these figures are calculated: methodology.

Best for

  • SCHGInvestors who want a growth tilt and can accept bigger swings for higher upside.
  • SPMOInvestors who want broad equity exposure.

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Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.

SCHG has lagged SPMO over the trailing twelve months, posting a 13.54% total return against 26.63%. The lead holds up over 10 years too: SPMO has compounded at 20.41% a year, against 18.77% for SCHG. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
SymbolYTD cumulative1Y cumulative3Y annualized5Y annualized10Y annualizedSince Oct 2015Volatility Sharpe Sortino Max drawdown
SCHG10.92%13.54%25.72%14.59%18.77%17.60%19.4%0.951.37-23.4%
SPMO27.42%26.63%39.39%21.26%20.41%19.21%22.0%1.311.92-20.1%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 30, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Oct 2015” measures every fund from October 12, 2015 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricSCHGSPMO
Full nameSchwab U.S. Large-Cap Growth ETFInvesco S&P 500 Momentum ETF
IssuerSchwabInvesco
Underlying indexDow Jones U.S. Large-Cap Growth Total Stock Market IndexS&P 500 Momentum Index
Last Close$35.93 as of September 30, 2026$151.58 as of September 30, 2026
Distribution rate0.41%0.64%
Trailing 12-month yield0.39%0.73%
Distribution Safety Score™ 10072
Safety-Adjusted Yield 0.41%0.46%
Expense ratio0.04%0.13%
AUM$64.3B$23.2B
Distribution frequencyQuarterlyQuarterly
ObjectiveSeeks to track the Dow Jones U.S. Large-Cap Growth Total Stock Market Index, holding the components ranked 1-750 by full market capitalization that are classified as growth.Track the S&P 500 Momentum Index, providing factor exposure to the highest momentum names within the S&P 500.
Asset classEquityEquity
Inception date12/11/200910/09/2015
Beta1.221.35
Last dividend$0.037$0.243
Ex-dividend date09/23/202609/21/2026

Bottom lineChoose SCHG if you want a growth tilt and can accept bigger swings for higher upside. Choose SPMO if you want broad equity exposure.

Large-cap growth versus S&P 500 momentum

SCHG tracks large-cap growth. SPMO tracks S&P 500 momentum. Style, not a one-date yield, is the split.

SCHGSPMO
StyleUS large-cap growthS&P 500 momentum
Expense ratio0.04%0.13%
Distribution rate0.41%0.64%
Fund size$64.3B$23.2B
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Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

Schwab
ETFs33
Total AUM$612B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Schwab is a major provider of low-cost, broad-based ETFs known for making investing accessible to individual investors through its discount brokerage platform. The issuer's fund lineup spans multiple categories including core index funds, dividend and income-focused strategies, factor-based approaches, international exposure, fixed income, and digital assets, with popular core holdings like SCHB (U.S. broad market) and SCHD (dividend appreciation) alongside more specialized thematic offerings. Schwab's ETF suite is characterized by its breadth across asset classes and investment styles, competitive expense ratios, and integration with its retail brokerage ecosystem.

See our curated list of related YouTube videos on SCHG.

See all Schwab ETFs
Invesco
ETFs246
Total AUM$1013B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Invesco is a major ETF provider known for offering a comprehensive lineup spanning multiple asset classes and investment strategies. The company specializes in income-focused products including dividend, covered call, and bond strategies, while also maintaining broad exposure across equity, factor-based, thematic, and ESG investing themes. Invesco's portfolio ranges from index-tracking funds to alternatives and specialized offerings like digital assets and BulletShares, making it one of the more expansive ETF families available to investors.

See our curated list of related YouTube videos on SPMO.

See all Invesco ETFs

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Quick verdict

SCHG (Schwab U.S. Large-Cap Growth ETF) and SPMO (Invesco S&P 500 Momentum ETF) are both quarterly-pay dividend ETFs, but they take different approaches.

SPMO offers the higher yield at 0.64% vs 0.41% for SCHG. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

SCHG is cheaper with an expense ratio of 0.04% compared to 0.13%.

They have different reference exposures: SCHG is linked to Dow Jones U.S. Large-Cap Growth Total Stock Market Index while SPMO is linked to S&P 500 Momentum Index, which means their performance drivers differ.

SCHG is the larger fund by assets ($64.3B), but assets alone do not establish trading costs or liquidity.

Deep dive

Yield & income

On a $10,000 investment, SCHG would generate roughly $10.25 cash per distribution, while SPMO would produce $16.00 cash per distribution, at current distribution rates. Both pay quarterly distributions.

SCHG yield0.41%
SPMO yield0.64%
Cash diff on $10K$5.75

Cost & efficiency

Over 10 years on $10,000, SCHG would cost approximately $40 in fees vs $130 for SPMO (simplified, not compounded). The $90.00 difference may be offset by yield or performance.

SCHG ER0.04%
SPMO ER0.13%

Strategy & risk

SCHG tracks Dow Jones U.S. Large-Cap Growth Total Stock Market Index, while SPMO tracks S&P 500 Momentum Index with an index approach. Beta is 1.22 for SCHG and 1.35 for SPMO, making SCHG the less volatile of the two by this measure.

SCHG beta1.22
SPMO beta1.35

Fund details

SCHG is managed by Schwab (launched 12/11/2009) with $64.3B in assets. SPMO is managed by Invesco (launched 10/09/2015) with $23.2B in assets.

SCHG AUM$64.3B
SPMO AUM$23.2B
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Frequently asked questions

What is the difference between SCHG and SPMO?

SCHG (Schwab U.S. Large-Cap Growth ETF) tracks US large-cap growth. SPMO (Invesco S&P 500 Momentum ETF) tracks S&P 500 momentum. Style, not yield, is the live difference. Cost is 0.04% versus 0.13%; size is $64.3B versus $23.2B. Distributions are 0.41% and 0.64% as of September 2026.

What is the current distribution rate for SCHG and SPMO?

SCHG currently distributes 0.41% and SPMO 0.64%, based on fund data updated September 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is SCHG or SPMO better for dividend income?

It depends on your goals. SPMO currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.

Can I hold both SCHG and SPMO?

Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.

Is SCHG or SPMO safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — SCHG scores 100, SPMO scores 72, so SCHG's payout currently looks the more resilient of the two. No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, SCHG or SPMO?

SCHG has an expense ratio of 0.04% while SPMO charges 0.13%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in SCHG vs SPMO generate?

At current rates, $10,000 in SCHG would generate roughly $10.25 cash per distribution ($41.00 annually). The same in SPMO would produce about $16.00 cash per distribution ($64.00 annually).

Which has performed better historically, SCHG or SPMO?

SCHG has lagged SPMO over the trailing twelve months, posting a 13.54% total return against 26.63%. The lead holds up over 10 years too: SPMO has compounded at 20.41% a year, against 18.77% for SCHG. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

SCHG vs SPMO — at a glance

Generated September 26, 2026.

Overview

SCHG and SPMO are both large-cap equity ETFs tracking broad U.S. stock indexes, but they differ fundamentally in selection methodology. SCHG tracks the Dow Jones U.S. Large-Cap Growth Index, holding the 750 largest companies classified as growth stocks by market-cap weighting. SPMO targets the S&P 500 Momentum Index, which selects the highest-momentum names within the S&P 500 using factor scoring rather than size alone. The key distinction: SCHG is a pure-play growth index fund, while SPMO is a momentum factor tilt of the S&P 500.

How they differ

SPMO's momentum-selection strategy produces higher beta and a tighter universe (500 names ranked by momentum) compared to SCHG's broader growth cohort of 750 stocks weighted by market cap. This difference in methodology shows up in returns sensitivity: SPMO carries a 1.35 beta versus SCHG's 1.22, indicating SPMO amplifies market moves more sharply. Both pay distributions quarterly. On costs, SCHG is the clear winner at 0.04% versus 0.13%, a difference that compounds over decades. SCHG also commands a much larger asset base at $64.3B compared to $23.2B, reflecting its longer history—SCHG launched 16 years, while SPMO arrived 10 years.

Who each is best for

  • SCHG: Fits investors seeking broad exposure to large-cap U.S. growth stocks with minimal fees and straightforward index tracking. The low expense ratio and massive AUM suit buy-and-hold portfolios built on simplicity.
  • SPMO: Designed for investors comfortable with factor-tilted exposure who believe momentum has historically rewarded concentrated bets within the S&P 500. The higher beta appeals to those with longer time horizons who can tolerate wider swings.

Key risks to know

  • Factor concentration and cyclicality: Momentum factors tend to underperform significantly during value rallies and market reversals. SPMO's tighter universe of high-momentum names may lag for extended periods when sentiment shifts or growth leadership cools.
  • Higher volatility: SPMO's 1.35 beta means a 10% market decline could translate to a larger percentage loss for SPMO than for SCHG, creating drawdown risk in recession scenarios.
  • Growth-style exposure overlap: Both funds skew heavily toward growth characteristics. Their holdings may overlap substantially, meaning diversification between them is limited—a single market headwind affecting growth multiples would stress both positions simultaneously.
  • Expense ratio creep: While SCHG's 0.04% is negligible, SPMO's 0.13% will compound into material drag over 20+ years, particularly if momentum factor performance trails broad growth.

Bottom line

If you want a core large-cap growth holding with minimal fees and maximum simplicity, SCHG stands out. If you're willing to accept higher volatility and factor-timing risk in exchange for momentum exposure, SPMO warrants consideration—but verify that the 0.64% yield and momentum discipline justify the 0.13% expense ratio and 1.35 beta relative to your existing portfolio. Past performance does not predict future results.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

Learn the method

The metrics behind this comparison, explained in the Academy.

Dividend growth vs. high yield Yield on cost, explained How expense ratios eat returns

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These comparisons follow the Dividend Vision methodology.