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ETF Comparison

SPMO vs VFMO: Which Is the Better Pick in 2026?

A head-to-head comparison of Invesco S&P 500 Momentum ETF and Vanguard U.S. Momentum Factor ETF ETF Shares covering yield, cost, risk, and income potential.

Data updated August 13, 2026

Best for

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

Jump to the side-by-side numbers

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricSPMOVFMO
Full nameInvesco S&P 500 Momentum ETFVanguard U.S. Momentum Factor ETF ETF Shares
IssuerInvescoVanguard
Last Close$151.21 as of August 13, 2026$236.47 as of August 13, 2026
Distribution yield0.65%0.80%
Distribution Safety Score™ 7259
Expense ratio0.13%0.13%
AUM$21.3B$1.83B
Distribution frequencyQuarterlyQuarterly
Underlying indexS&P 500 Momentum Index—
ObjectiveTrack the S&P 500 Momentum Index, providing factor exposure to the highest momentum names within the S&P 500.—
Asset classEquityEquity
Inception date10/09/201502/13/2018
Beta1.331.36
Last dividend$0.2450$0.4730
Ex-dividend date06/22/202606/24/2026

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

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Income calculator

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

Invesco
ETFs248
Total AUM$976B

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
Vanguard
ETFs116
Total AUM$4657B

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

Vanguard is one of the largest and most established ETF issuers, known for low-cost, broadly diversified fund offerings built on passive indexing principles. Their lineup spans multiple asset classes and strategies, including core equity and bond index funds, dividend-focused portfolios, ESG-screened options, factor-based strategies, sector exposure, target-date retirement funds, and international investments across developed and emerging markets. The platform is characterized by its emphasis on accessibility and cost efficiency across a comprehensive range of fund families, serving both individual investors seeking broad market exposure and those pursuing specific income, sustainability, or thematic objectives.

See our curated list of related YouTube videos on VFMO.

See all Vanguard ETFs

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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

SPMO has lagged VFMO over the trailing twelve months, posting a 30.27% total return against 35.23%. The picture flips over 5 years, though — SPMO has compounded at 21.21% a year, ahead of VFMO at 13.36%. 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.
SymbolYTD1Y3Y5YSince Feb 2018Volatility Sharpe Sortino Max drawdown
SPMO26.91%30.27%38.22%21.21%19.67%21.8%1.291.89-20.1%
VFMO21.85%35.23%26.29%13.36%15.14%22.7%0.841.19-24.4%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 12, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Feb 2018” measures every fund from February 15, 2018 — the youngest fund's first trading day — 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.

Quick verdict

SPMO (Invesco S&P 500 Momentum ETF) and VFMO (Vanguard U.S. Momentum Factor ETF ETF Shares) are both quarterly-pay dividend ETFs, but they take different approaches.

VFMO offers the higher yield at 0.80% vs 0.65% for SPMO. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

SPMO is the larger fund by assets ($21.3B), which generally means tighter spreads and better liquidity.

Deep dive

Yield & income

On a $10,000 investment, SPMO would generate roughly $5.42/month, while VFMO would produce $6.67/month, at current distribution rates. Both pay quarterly distributions.

SPMO yield0.65%
VFMO yield0.80%
Monthly diff on $10K$1.25

Cost & efficiency

Over 10 years on $10,000, SPMO would cost approximately $130 in fees vs $130 for VFMO (simplified, not compounded). Both charge the same expense ratio.

SPMO ER0.13%
VFMO ER0.13%

Strategy & risk

SPMO tracks S&P 500 Momentum Index with an index approach, while VFMO is an ETF. Beta is 1.33 for SPMO and 1.36 for VFMO, indicating SPMO is less volatile relative to the market.

SPMO beta1.33
VFMO beta1.36

Fund details

SPMO is managed by Invesco (launched 10/09/2015) with $21.3B in assets. VFMO is managed by Vanguard (launched 02/13/2018) with $1.83B in assets.

SPMO AUM$21.3B
VFMO AUM$1.83B
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Frequently asked questions

What is the current distribution yield for SPMO and VFMO?

SPMO currently distributes 0.65% and VFMO 0.80%, based on fund data updated August 2026. Distribution yield moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is SPMO or VFMO better for dividend income?

It depends on your goals. VFMO 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.

What is the difference between SPMO and VFMO?

SPMO (Invesco S&P 500 Momentum ETF) tracks S&P 500 Momentum Index with an index approach, while VFMO (Vanguard U.S. Momentum Factor ETF ETF Shares) is an ETF. They are issued by Invesco and Vanguard respectively.

Can I hold both SPMO and VFMO?

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 SPMO or VFMO safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — SPMO scores 72, VFMO scores 59, so SPMO'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, SPMO or VFMO?

SPMO and VFMO both charge the same expense ratio of 0.13%, so neither is cheaper on fees — pick based on yield, strategy, or underlying index instead.

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

At current rates, $10,000 in SPMO would generate roughly $5.42 per month ($65.00 annually). The same in VFMO would produce about $6.67 per month ($80.00 annually).

Which has performed better historically, SPMO or VFMO?

SPMO has lagged VFMO over the trailing twelve months, posting a 30.27% total return against 35.23%. The picture flips over 5 years, though — SPMO has compounded at 21.21% a year, ahead of VFMO at 13.36%. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

SPMO vs VFMO — at a glance

Generated August 8, 2026.

Overview

SPMO and VFMO are both momentum-focused equity ETFs tracking factor-based indices, but they operate in different market segments. SPMO targets large-cap momentum names within the S&P 500, while VFMO pursues momentum exposure across the broader U.S. mid-cap blend universe. Both charge identical expense ratios and distribute quarterly, making the choice hinge primarily on market-cap preference and fund scale.

How they differ

The core difference is market-cap focus: SPMO isolates momentum within large-cap S&P 500 constituents, while VFMO casts a wider net into the mid-cap space. SPMO's $21.3B in assets dwarfs VFMO's $1.83B, giving SPMO greater liquidity and tighter tracking. Both carry a 0.13% expense ratio, but SPMO yields 0.65% versus VFMO's 0.81%—a modest difference reflecting their different underlying universes. SPMO's beta of 1.28 and VFMO's 1.32 suggest both amplify market moves, though VFMO edges slightly higher.

Who each is best for

SPMO: Fits investors seeking concentrated momentum exposure within the largest U.S. companies, preferring a deeper fund with established trading volume and the simplicity of S&P 500 constituent screening.

VFMO: Fits investors willing to venture into mid-cap momentum for a higher dividend yield and exposure to smaller names where factor premiums may persist differently than in mega-cap stocks.

Key risks to know

  • Momentum factor decay: Both funds concentrate in stocks showing recent strength, a factor prone to mean reversion; periods of rotation into value or defensive positioning can pressure performance sharply.
  • Mid-cap volatility in VFMO: Mid-cap stocks carry higher single-name risk and lower analyst coverage than large-cap peers; VFMO's smaller asset base also elevates the risk of wider bid-ask spreads during stressed markets.
  • Beta amplification: Both ETFs exhibit beta above 1.3, meaning they are likely to fall harder than the broad market during downturns and rise faster during rallies, concentrating drawdown risk for income investors.
  • Holdings overlap risk: Both funds screen U.S. equities for momentum signals, so their top holdings may overlap materially; verify holdings before combining them to avoid unintended concentration.

Bottom line

If you want large-cap momentum with substantial liquidity and a proven track record since 2015, SPMO's scale and S&P 500 anchor stand out. If you're comfortable with mid-cap exposure and prioritize the higher yield, VFMO offers a different market-cap slice of the same factor. Remember that factor premiums are cyclical and past performance doesn't predict future results.

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

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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

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