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ETF Comparison

SPMO vs VOO: A Momentum Sleeve, or Broad Large Caps?

A head-to-head of Invesco's S&P 500 Momentum ETF and Vanguard's S&P 500 ETF covering the factor tilt, cost, and core role.

Data updated August 21, 2026

Best for

  • SPMOInvestors who want broad equity exposure.
  • VOOInvestors 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

SPMO has outpaced VOO over the trailing twelve months, posting a 29.83% total return against 21.39%. The lead holds up over 10 years too: SPMO has compounded at 19.99% a year, against 15.27% for VOO. VOO has been the steadier holding, though — annualized volatility of 14.9% against 21.8% 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.
SymbolYTD1Y3Y5Y10YSince Oct 2015Volatility Sharpe Sortino Max drawdown
SPMO24.82%29.83%37.94%20.69%19.99%19.20%21.8%1.271.86-20.1%
VOO12.68%21.39%21.93%13.13%15.27%15.01%14.9%1.031.49-18.7%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 21, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Oct 2015” measures every fund from October 12, 2015 — 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.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricSPMOVOO
Full nameInvesco S&P 500 Momentum ETFVanguard S&P 500 ETF
IssuerInvescoVanguard
Underlying indexS&P 500 Momentum IndexS&P 500 Index
Last Close$148.73 as of August 21, 2026$703.71 as of August 21, 2026
Distribution yield0.66%1.12%
Distribution Safety Score™ 72100
Expense ratio0.13%0.03%
AUM$21.7B$1034B
Distribution frequencyQuarterlyQuarterly
ObjectiveTrack the S&P 500 Momentum Index, providing factor exposure to the highest momentum names within the S&P 500.Track the performance of the S&P 500 Index, representing 500 of the largest U.S. companies.
Asset classEquityEquity
Inception date10/09/201509/07/2010
Beta1.331.0
Last dividend$0.2450$1.9622
Ex-dividend date06/22/202606/26/2026

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

SPMO vs VOO: momentum sleeve or the S&P 500?

VOO is every major sector at index weights. SPMO keeps the recent winners. Holding both doubles those names already inside VOO.

SPMOVOO
IndexS&P 500 Momentum IndexS&P 500 Index
StyleS&P 500 momentumBroad US large caps
Expense ratio0.13%0.03%
Distribution yield0.66%1.12%
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Income calculator

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

Invesco
ETFs246
Total AUM$998B

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$4656B

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 VOO.

See all Vanguard ETFs

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Quick verdict

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

VOO offers the higher yield at 1.12% vs 0.66% for SPMO. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

VOO is cheaper with an expense ratio of 0.03% compared to 0.13%.

They track different benchmarks: SPMO is linked to S&P 500 Momentum Index while VOO tracks S&P 500 Index, which means their performance drivers differ.

VOO is the larger fund by assets ($1034B), which generally means tighter spreads and better liquidity.

Deep dive

Yield & income

On a $10,000 investment, SPMO would generate roughly $5.50/month, while VOO would produce $9.33/month, at current distribution rates. Both pay quarterly distributions.

SPMO yield0.66%
VOO yield1.12%
Monthly diff on $10K$3.83

Cost & efficiency

Over 10 years on $10,000, SPMO would cost approximately $130 in fees vs $30 for VOO (simplified, not compounded). The $100.00 difference may be offset by yield or performance.

SPMO ER0.13%
VOO ER0.03%

Strategy & risk

SPMO tracks S&P 500 Momentum Index with an index approach, while VOO tracks S&P 500 Index with a large cap approach. Beta is 1.33 for SPMO and 1.0 for VOO, making VOO the less volatile of the two by this measure.

SPMO beta1.33
VOO beta1.0

Fund details

SPMO is managed by Invesco (launched 10/09/2015) with $21.7B in assets. VOO is managed by Vanguard (launched 09/07/2010) with $1034B in assets.

SPMO AUM$21.7B
VOO AUM$1034B
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Frequently asked questions

What is the difference between SPMO and VOO?

VOO (Vanguard S&P 500 ETF) tracks S&P 500 Index — about 500 US large caps in every major sector. SPMO (Invesco S&P 500 Momentum ETF) tracks S&P 500 Momentum Index, so it only keeps the S&P 500 names that have been going up. Cost is 0.13% versus 0.03%. Distributions are 0.66% and 1.12% as of August 2026 — neither is an income fund. Holding both doubles the momentum names already inside VOO.

What is the current distribution yield for SPMO and VOO?

SPMO currently distributes 0.66% and VOO 1.12%, 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 VOO better for dividend income?

It depends on your goals. VOO 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 SPMO and VOO?

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 VOO safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — VOO scores 100, SPMO scores 72, so VOO's payout currently looks the more resilient of the two. VOO has also shown lower price volatility (beta 1.00 vs 1.33 for SPMO). No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, SPMO or VOO?

SPMO has an expense ratio of 0.13% while VOO charges 0.03%. Lower fees mean more of your investment returns stay in your pocket over time.

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

At current rates, $10,000 in SPMO would generate roughly $5.50 per month ($66.00 annually). The same in VOO would produce about $9.33 per month ($112.00 annually).

Which has performed better historically, SPMO or VOO?

SPMO has outpaced VOO over the trailing twelve months, posting a 29.83% total return against 21.39%. The lead holds up over 10 years too: SPMO has compounded at 19.99% a year, against 15.27% for VOO. VOO has been the steadier holding, though — annualized volatility of 14.9% against 21.8% 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 VOO — at a glance

Generated August 16, 2026.

Overview

Both SPMO and VOO track the S&P 500, but SPMO isolates momentum—the highest-performing names within the index—while VOO holds the full 500 stocks in market-weight proportion. SPMO's tighter focus tilts toward growth and recent winners; VOO provides broad market exposure. The core tradeoff is concentrated upside versus diversification.

How they differ

SPMO applies a momentum factor screen to the S&P 500, holding only the stocks with the strongest recent returns, whereas VOO owns all 500 constituents. That concentration drives SPMO's higher beta of 1.33 versus VOO's 1.0—SPMO amplifies market moves and historically tends to outperform in rising markets and underperform in downturns.

VOO's yield of 1.10% more than doubles SPMO's 0.64%, a gap that reflects SPMO's tilt toward faster-growing, lower-dividend payers. VOO's expense ratio of 0.03% is among the cheapest in the industry; SPMO's 0.13% is still low but materially higher. AUM also reveals scale: VOO holds $1045B compared to SPMO's $21.7B, giving VOO deeper liquidity and tighter bid-ask spreads.

Who each is best for

SPMO: Fits investors seeking concentrated exposure to market-leading momentum trends, with a higher risk tolerance and longer time horizon to ride out periods when momentum reversals underperform.

VOO: Fits investors who want broad, low-cost S&P 500 exposure without factor tilts, prioritizing simplicity and full diversification across the 500 constituents.

Key risks to know

  • Momentum reversal risk: SPMO's focus on recent outperformers is cyclical. Momentum factors historically underperform during market rotations or when investor preference shifts toward laggards or value stocks; past strong performance by top momentum names does not guarantee continuance.
  • Beta amplification: SPMO's beta of 1.33 means it swings harder than the market in both directions. In corrections, that leverage can magnify losses relative to a broad-based fund.
  • Tracking error and overlap concentration: While both track the S&P 500, SPMO's subset of the index is far smaller, creating higher overlap in holdings. This concentration can widen performance gaps during periods when the momentum subset underperforms the full index.
  • Dividend leakage: SPMO's 0.64% yield is less than half VOO's, which can matter in low-growth environments when dividends form a larger portion of total return.

Bottom line

If you want broad, low-cost exposure to the full market, VOO's 0.03% expense ratio and full diversification stand out; if you're comfortable with higher beta and are betting on momentum to persist, SPMO's concentrated tilt offers a different return pattern. Either way, past performance doesn't guarantee 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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