DV
Dividend Vision

ETF Comparison

SPMO vs SPYM: S&P 500 Momentum Screen, or the Index Itself?

A head-to-head of Invesco S&P 500 Momentum and State Street SPDR Portfolio S&P 500 covering factor versus the plain index.

Updated September 30, 2026

How these figures are calculated: methodology.

Best for

  • SPMOInvestors who want broad equity exposure.
  • SPYMInvestors who want simple, diversified core exposure in one low-cost fund.

Jump to the side-by-side numbers

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.

SPMO has outpaced SPYM over the trailing twelve months, posting a 26.63% total return against 16.23%. The lead holds up over 10 years too: SPMO has compounded at 20.41% a year, against 15.38% for SPYM. SPYM has been the steadier holding, though — annualized volatility of 14.9% against 22.0% for SPMO. 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
SPMO27.42%26.63%39.39%21.26%20.41%19.21%22.0%1.311.92-20.1%
SPYM12.54%16.23%22.91%13.50%15.38%14.81%14.9%1.091.58-18.7%

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.
MetricSPMOSPYM
Full nameInvesco S&P 500 Momentum ETFState Street SPDR Portfolio S&P 500 ETF
IssuerInvescoState Street
Underlying indexS&P 500 Momentum IndexS&P 500 Index
Last Close$151.58 as of September 30, 2026$89.76 as of September 30, 2026
Distribution rate0.64%1.07%
Trailing 12-month yield0.73%1.01%
Distribution Safety Score™ 72100
Safety-Adjusted Yield 0.46%1.07%
Expense ratio0.13%0.02%
AUM$23.2B$176B
Distribution frequencyQuarterlyQuarterly
ObjectiveTrack the S&P 500 Momentum Index, providing factor exposure to the highest momentum names within the S&P 500.Tracks the S&P 500 Index, providing broad U.S. large-cap equity exposure at a low cost.
Asset classEquityEquity
Inception date10/09/201511/08/2005
Beta1.351.0
Last dividend$0.243$0.239
Ex-dividend date09/21/202609/11/2026

Bottom lineChoose SPMO if you want broad equity exposure. Choose SPYM if you want simple, diversified core exposure in one low-cost fund.

S&P 500 momentum versus the S&P 500 itself

SPMO screens momentum inside the S&P 500. SPYM holds the index. Factor sleeve versus the plain index is the decision.

SPMOSPYM
EngineS&P 500 momentum screenS&P 500 index
Expense ratio0.13%0.02%
Distribution rate0.64%1.07%
Model this comparison:
Compare in my portfolio Forecast income Save to watchlist

Income calculator

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

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
State Street
ETFs179
Total AUM$2148B

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

State Street Global Advisors (SSGA) is one of the largest ETF providers globally, known for its flagship SPDR suite of exchange-traded products that serve both institutional and retail investors across a broad range of asset classes. Their 88-fund lineup spans diverse strategies including sector exposure (Select Sector SPDR), income generation (Income and Select Sector SPDR Premium Income families), commodities (including the widely-held GLD gold ETF), bonds, ESG-focused investments, and thematic allocations, with popular tickers like DIA (Diamonds Trust), FEZ (Eurozone exposure), and JNK (high-yield bonds) among their most recognized funds. The issuer is characterized by its comprehensive coverage across multiple market segments and its emphasis on both traditional index-based products and specialized strategies like covered call income funds and factor-based investing.

See our curated list of related YouTube videos on SPYM.

See all State Street ETFs

Want to go deeper?

Add these ETFs to a sample portfolio and forecast your dividend income over 5+ years — free to start, no credit card.

Compare in my portfolio Forecast income Save to watchlist

Quick verdict

SPMO (Invesco S&P 500 Momentum ETF) and SPYM (State Street SPDR Portfolio S&P 500 ETF) are both quarterly-pay dividend ETFs, but they take different approaches.

SPYM offers the higher yield at 1.07% vs 0.64% for SPMO. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

SPYM is cheaper with an expense ratio of 0.02% compared to 0.13%.

They have different reference exposures: SPMO is linked to S&P 500 Momentum Index while SPYM is linked to S&P 500 Index, which means their performance drivers differ.

SPYM is the larger fund by assets ($176B), but assets alone do not establish trading costs or liquidity.

Deep dive

Yield & income

On a $10,000 investment, SPMO would generate roughly $16.00 cash per distribution, while SPYM would produce $26.75 cash per distribution, at current distribution rates. Both pay quarterly distributions.

SPMO yield0.64%
SPYM yield1.07%
Cash diff on $10K$10.75

Cost & efficiency

Over 10 years on $10,000, SPMO would cost approximately $130 in fees vs $20 for SPYM (simplified, not compounded). The $110.00 difference may be offset by yield or performance.

SPMO ER0.13%
SPYM ER0.02%

Strategy & risk

SPMO tracks S&P 500 Momentum Index with an index approach, while SPYM tracks S&P 500 Index with a large cap approach. Beta is 1.35 for SPMO and 1.0 for SPYM, making SPYM the less volatile of the two by this measure.

SPMO beta1.35
SPYM beta1.0

Fund details

SPMO is managed by Invesco (launched 10/09/2015) with $23.2B in assets. SPYM is managed by State Street (launched 11/08/2005) with $176B in assets.

SPMO AUM$23.2B
SPYM AUM$176B
Ready to act?
Open in Comparator Model in portfolio See pricing

Enjoyed this page?

Do us a favor — if you found this comparison useful, please share it with a friend researching dividend ETFs.

Frequently asked questions

What is the difference between SPMO and SPYM?

SPMO (Invesco S&P 500 Momentum ETF) screens S&P 500 momentum. SPYM (State Street SPDR Portfolio S&P 500 ETF) holds the S&P 500. Factor sleeve versus the plain index is the live gap. Cost is 0.13% versus 0.02%; size is $23.2B versus $176B. Distributions are 0.64% and 1.07% as of September 2026.

Is SPLG the same as SPYM?

Yes — same fund, new ticker. State Street renamed the State Street SPDR Portfolio S&P 500 ETF from SPLG to SPYM; the strategy and holdings carried over unchanged, and existing shareholders kept their position under the new symbol. So results for "SPLG" are answered by SPYM's numbers: 1.07% distribution yield at a 0.02% expense ratio, with $176B in assets as of September 2026.

What is the current distribution rate for SPMO and SPYM?

SPMO currently distributes 0.64% and SPYM 1.07%, 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 SPMO or SPYM better for dividend income?

It depends on your goals. SPYM 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.

Is SPMO or SPYM safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — SPYM scores 100, SPMO scores 72, so SPYM's payout currently looks the more resilient of the two. SPYM has also shown lower price volatility (beta 1.00 vs 1.35 for SPMO). No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, SPMO or SPYM?

SPMO has an expense ratio of 0.13% while SPYM charges 0.02%. Lower fees mean more of your investment returns stay in your pocket over time.

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

At current rates, $10,000 in SPMO would generate roughly $16.00 cash per distribution ($64.00 annually). The same in SPYM would produce about $26.75 cash per distribution ($107.00 annually).

Which has performed better historically, SPMO or SPYM?

SPMO has outpaced SPYM over the trailing twelve months, posting a 26.63% total return against 16.23%. The lead holds up over 10 years too: SPMO has compounded at 20.41% a year, against 15.38% for SPYM. SPYM has been the steadier holding, though — annualized volatility of 14.9% against 22.0% for SPMO. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

SPMO vs SPYM — at a glance

Generated September 26, 2026.

Overview

SPMO and SPYM both track S&P 500–derived indexes, but they pursue different strategies. SPMO isolates the highest-momentum names within the S&P 500 via the S&P 500 Momentum Index, tilting toward outperformers. SPYM holds the full S&P 500 in market-weight order, offering vanilla large-cap blend exposure. The key distinction is factor tilt versus broad index replication.

How they differ

SPMO applies a momentum screen to the S&P 500, concentrating holdings in stocks with the strongest recent price and earnings momentum, while SPYM holds all 500 constituents at index weight. That structural difference drives their risk profiles: SPMO carries a 1.35 beta versus SPYM's 1.0, meaning it amplifies market swings. SPYM is also far larger ($176B in assets versus $23.2B), and its expense ratio is 0.02%, nearly 6.5 times cheaper than SPMO's 0.13%.

Who each is best for

SPMO: Fits investors who want exposure to market outperformers and are comfortable with higher volatility and lower near-term income in exchange for potential momentum-driven price appreciation.

SPYM: Fits investors seeking core U.S. equity exposure with minimal cost drag, stable dividend income, and the full S&P 500 portfolio without factor tilts or sector concentration bets.

Key risks to know

  • Momentum reversal risk: Momentum factors historically experience drawdowns when market sentiment shifts. SPMO's concentration in recent outperformers may underperform when leadership rotates away from momentum stocks toward value or defensive sectors.
  • Beta amplification: SPMO's 1.35 beta means it will decline faster than the broad index in downturns and rally more aggressively in rallies. Investors with lower risk tolerance or shorter time horizons face magnified drawdown exposure compared to SPYM's market-tracking 1.0 beta.
  • Concentration within the index: SPMO's momentum screen likely reduces diversification by overweighting a subset of the 500 constituents. Overlapping holdings within that subset introduce sector concentration risk not present in SPYM's market-weight approach.
  • Dividend yield gap: SPMO's 0.64% yield is substantially lower than SPYM's 1.07%, reflecting momentum's tilt toward growth. Investors targeting steady income flow will receive less from SPMO, all else equal.

Bottom line

If you value pure market exposure and minimal cost, SPYM's 0.02% expense ratio and $176B asset base make it a straightforward choice. If you're willing to accept higher volatility and lower current yield for a tilt toward recent market winners, SPMO's momentum screen may fit a satellite allocation. The tradeoff is simplicity and income stability against a concentrated factor bet. Past performance does not guarantee 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.

How to read a fund's stats How expense ratios eat returns Correlation between two funds

Still deciding? Compare them against your own portfolio

See how each ETF fits alongside your real holdings — forecast future income, analyze overlap, and gauge risk. Start a free 7-day Dividend Vision trial and make the call with your full portfolio in view.

Start Free Open in Comparator Browse Screener

These comparisons follow the Dividend Vision methodology.