ETF Comparison

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

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

Data updated May 20, 2026

Invesco

ETFs13

Total AUM$657.4B

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

Invesco is a major asset manager recognized for developing innovative ETF solutions across diverse investment strategies. Their fund lineup focuses primarily on income generation, offering investors options that emphasize dividend yield and regular distributions. With a portfolio of four ETFs including popular tickers like PRF (Preferred Stock ETF) and QQQM (Nasdaq-100 ETF), Invesco serves both income-focused and growth-oriented investors seeking streamlined exposure to specific market segments.

See our curated list of related YouTube videos on SPMO.

See all Invesco ETFs

Vanguard

ETFs48

Total AUM$11763.3B

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

Vanguard is known for offering low-cost, passively managed ETFs that serve as core portfolio holdings for individual investors. Their fund lineup emphasizes core equity exposure and dividend income strategies, with offerings spanning domestic growth (VGT, VUG), broad market indices (VOO), dividend-focused portfolios (VYM, VIG), and international high dividend yield opportunities (VONG, VYMI). The issuer's seven funds are characterized by expense ratios among the industry's lowest and a focus on long-term, buy-and-hold investors seeking diversified equity exposure.

See our curated list of related YouTube videos on VOO.

See all Vanguard ETFs

Side-by-side snapshot

	SPMO	VOO
Full name	Invesco S&P 500 Momentum ETF	Vanguard S&P 500 ETF
Issuer	Invesco	Vanguard
Last Close	$141.42 as of May 20, 2026	$678.91 as of May 20, 2026
Distribution yield	0.71%	1.04%
Expense ratio	0.13%	0.03%
AUM	$16.0B	$1600.2B
Distribution frequency	Quarterly	Quarterly
Underlying index	S&P 500 Momentum Index	S&P 500 Index
Objective	Track 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 class	Equity	Equity
Inception date	10/09/2015	09/07/2010
Beta	1.27	1.0
Last dividend	$0.32	$1.87
Ex-dividend date	03/23/2026	03/27/2026

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Key metrics

Projected income on $10K

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

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 1.04% vs 0.71% 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 ($1600.2B), which generally means tighter spreads and better liquidity.

Deep dive

Yield & income

On a $10,000 investment, SPMO would generate roughly $5.92/month, while VOO would produce $8.67/month, at current distribution rates. Both pay quarterly distributions.

SPMO yield0.71%

VOO yield1.04%

Monthly diff on $10K$2.75

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

Both SPMO and VOO wrap S&P 500 Momentum Index with similar strategies (index and large cap). The practical differences are yield target, fee structure, and issuer track record — not the underlying mechanic. Beta is 1.27 for SPMO and 1.0 for VOO, indicating VOO is less volatile relative to the market.

SPMO beta1.27

VOO beta1.0

Fund details

SPMO is managed by Invesco (launched 10/09/2015) with $16.0B in assets. VOO is managed by Vanguard (launched 09/07/2010) with $1600.2B in assets.

SPMO AUM$16.0B

VOO AUM$1600.2B

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Frequently asked questions

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.

What is the difference between SPMO and VOO?

Both SPMO (Invesco S&P 500 Momentum ETF) and VOO (Vanguard S&P 500 ETF) track S&P 500 Momentum Index with similar approaches — the labels "index" and "large cap" describe closely related mechanics. The real differences show up in yield target (0.71% vs 1.04%), expense ratio (0.13% vs 0.03%), and issuer (Invesco vs Vanguard).

Can I hold both SPMO and VOO?

You can, but expect significant overlap. Both funds use similar strategies on S&P 500 Momentum Index, so holding them together gives you two wrappers around effectively the same exposure — not true diversification. Weigh issuer, fee, and yield differences rather than treating them as complementary.

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 $5.92 per month ($71.00 annually). The same in VOO would produce about $8.67 per month ($104.00 annually).

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SPMO vs VOO — at a glance

Generated April 2026 from current fund data.

Overview

SPMO and VOO are both S&P 500–focused equity ETFs, but they take different approaches to the index. VOO holds all 500 companies in the S&P 500, tracking the broad market. SPMO holds a subset—those 500 names ranked highest by momentum, a factor that favors stocks with the strongest recent price trends. This single strategic difference drives everything else: return potential, volatility, yield, and fee structure.

How they differ

The biggest difference is strategy. SPMO concentrates on momentum leaders within the S&P 500, meaning it overweights stocks rallying fastest and underweights laggards. VOO holds every stock in equal weight relative to market cap, making it a pure market-cap tracker. This shows in beta: SPMO's 1.16 beta means it's 16% more volatile than the broader market, while VOO's 1.0 beta moves in lockstep with the S&P 500.

Yield is the second key divergence. VOO distributes 1.09% annually; SPMO yields just 0.79%. This gap reflects momentum stocks' tendency to be growth-oriented and lighter on dividends than the S&P 500 as a whole. Finally, fees tell a story about scale. VOO charges 0.03% annually with $1.42 trillion in AUM—Vanguard's largest ETF. SPMO costs 0.13% and holds $12.3 billion, a hundred times smaller.

Who each is best for

VOO: Buy-and-hold investors seeking full S&P 500 exposure with minimal fees and predictable tax-efficient dividends. Ideal for long-term retirement accounts and core portfolio holdings where broad market diversification matters more than outperformance.

SPMO: Investors comfortable with higher volatility who want tilted exposure to faster-growing, trending stocks within large caps. Better suited for those who can tolerate larger drawdowns and have conviction that momentum-driven selection will outpace the broad market over their holding period.

Key risks to know

Momentum reversal. Momentum factors have extended periods of underperformance when the market style rotates away from growth to value. SPMO's overweight to the highest-flying stocks can amplify losses in those regimes.

Concentration drag. By design, SPMO omits the slowest-momentum names, which sometimes lead recoveries. This exclusion can cost performance if the market rebounds through laggards rather than leaders.

Volatility and drawdown. SPMO's 1.16 beta means a 20% market decline becomes roughly 23% for the fund. Investors impatient during downturns may exit at losses.

Scale disadvantage. SPMO's smaller AUM ($12.3B vs. $1.4T for VOO) may face tighter spreads and liquidity constraints in heavy trading, though this is not a major concern for most retail investors.

Bottom line

VOO works for investors who want the full market with institutional-grade efficiency. SPMO suits those willing to chase momentum and accept higher volatility in exchange for potential outperformance and a tighter factor bet. The fee difference is negligible; the strategic choice is what matters. Past performance doesn't predict future returns—momentum can persist or evaporate depending on market regime.

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