OriginaveSPMO vs SPHQ: which ETF won each year?
Yearly returns side by side, one winner per year — dividends included, priced as you'd actually buy them.
SPMO
SPYSPDR S&P 500 ETF Trusttracks the S&P 500 Index
VOOVanguard S&P 500 ETFtracks the S&P 500 Index
IVViShares Core S&P 500 ETFtracks the S&P 500 Index- VTIVanguard Total Stock Market ETFtracks the CRSP US Total Market Index
- QQQInvesco QQQ Trusttracks the Nasdaq-100 Index
- QQQMInvesco NASDAQ 100 ETFtracks the Nasdaq-100 Index
- VGTVanguard Information Technology ETFtracks the MSCI US IMI Information Technology 25/50 Index
- ACWIiShares MSCI ACWI ETFtracks the MSCI ACWI Index
- VTVanguard Total World Stock ETFtracks the FTSE Global All Cap Index
- URTHiShares MSCI World ETFtracks the MSCI World Index
SCHGSchwab U.S. Large-Cap Growth ETFtracks the Dow Jones U.S. Large-Cap Growth Total Stock Market Index- SCHDSchwab U.S. Dividend Equity ETFtracks the Dow Jones U.S. Dividend 100 Index
- VTVVanguard Value ETFtracks the CRSP US Large Cap Value Index
- VUGVanguard Growth ETFtracks the CRSP US Large Cap Growth Index
- MTUMiShares MSCI USA Momentum Factor ETFtracks the MSCI USA Momentum SR Variant Index
- SPMOInvesco S&P 500 Momentum ETFtracks the S&P 500 Momentum Index
- SPHQInvesco S&P 500 Quality ETFtracks the S&P 500 Quality Index
SPHQ
- SPYSPDR S&P 500 ETF Trusttracks the S&P 500 Index
- VOOVanguard S&P 500 ETFtracks the S&P 500 Index
- IVViShares Core S&P 500 ETFtracks the S&P 500 Index
- VTIVanguard Total Stock Market ETFtracks the CRSP US Total Market Index
- QQQInvesco QQQ Trusttracks the Nasdaq-100 Index
- QQQMInvesco NASDAQ 100 ETFtracks the Nasdaq-100 Index
- VGTVanguard Information Technology ETFtracks the MSCI US IMI Information Technology 25/50 Index
- ACWIiShares MSCI ACWI ETFtracks the MSCI ACWI Index
- VTVanguard Total World Stock ETFtracks the FTSE Global All Cap Index
- URTHiShares MSCI World ETFtracks the MSCI World Index
- SCHGSchwab U.S. Large-Cap Growth ETFtracks the Dow Jones U.S. Large-Cap Growth Total Stock Market Index
- SCHDSchwab U.S. Dividend Equity ETFtracks the Dow Jones U.S. Dividend 100 Index
- VTVVanguard Value ETFtracks the CRSP US Large Cap Value Index
- VUGVanguard Growth ETFtracks the CRSP US Large Cap Growth Index
- MTUMiShares MSCI USA Momentum Factor ETFtracks the MSCI USA Momentum SR Variant Index
- SPMOInvesco S&P 500 Momentum ETFtracks the S&P 500 Momentum Index
- SPHQInvesco S&P 500 Quality ETFtracks the S&P 500 Quality Index
SPMO tracks the S&P 500 Momentum IndexSPHQ tracks the S&P 500 Quality Index
What did the last 10 years do to $10,000?
You invest $10,000 at the start of the window and touch nothing — dividends reinvested, the running year not counted.
SPMO vs SPHQ, year by year
Calendar-year total returns (dividends included) side by side, and who took the crown each year. A dash means the fund did not exist yet.
| Year | SPMO | SPHQ | Winner |
|---|---|---|---|
| 2026 (so far) | +27.80% | +12.92% | SPMO |
| 2025 | +26.58% | +13.25% | SPMO |
| 2024 | +45.82% | +25.44% | SPMO |
| 2023 | +17.56% | +24.83% | SPHQ |
| 2022 | -10.45% | -15.76% | SPMO |
| 2021 | +22.51% | +27.59% | SPHQ |
| 2020 | +27.80% | +16.93% | SPMO |
| 2019 | +25.93% | +33.63% | SPHQ |
| 2018 | -0.92% | -7.09% | SPMO |
| 2017 | +27.76% | +19.10% | SPMO |
| 2016 | +7.18% | +14.30% | SPHQ |
| 2015 | +2.78% | +1.64% | SPMO |
| 2014 | — | +16.08% | — |
| 2013 | — | +32.73% | — |
| 2012 | — | +14.32% | — |
| 2011 | — | +6.28% | — |
| 2010 | — | +20.50% | — |
| 2009 | — | +12.59% | — |
| 2008 | — | -46.35% | — |
| 2007 | — | +16.77% | — |
| 2006 | — | +4.58% | — |
| 2005 | — | -2.05% | — |
SPMO vs SPHQ in plain words
SPMO tracks the S&P 500 Momentum Index while SPHQ follows the S&P 500 Quality Index, so they own different slices of the market and their years can look very different. SPMO charges 0.13% a year in running costs and SPHQ charges 0.15% — SPMO is the cheaper fund to hold.
Both funds distribute: dividends land in your account as cash instead of being reinvested automatically. Across the 12 calendar years both funds were trading, SPMO finished the year ahead 8 times and SPHQ 4 times. $10,000 invested at the start of 2016 was worth $51,975 in SPMO versus $37,666 in SPHQ by the end of 2025, dividends reinvested.
Fund facts: SPMO vs SPHQ
| Fact | SPMO | SPHQ |
|---|---|---|
| Fund | Invesco S&P 500 Momentum ETF | Invesco S&P 500 Quality ETF |
| Tracks | S&P 500 Momentum Index | S&P 500 Quality Index |
| Yearly cost (TER) | 0.13% | 0.15% |
| Dividends | Distributing — dividends paid out | Distributing — dividends paid out |
| Launched | 9 Oct 2015 | 6 Dec 2005 |
| $10,000 invested | What $10,000 in SPMO became | What $10,000 in SPHQ became |
How bumpy the ride was: SPMO vs SPHQ
These head-to-head figures use only the 2,762 trading days both funds were listed: 12 Oct 2015 to 6 Oct 2026, roughly 11.0 years.
SPMO swung more than SPHQ: annualised volatility of 20.4% for SPMO against 17.6% for SPHQ, with SPMO moving 1% or more on 28.5% of trading days and SPHQ on 24.0%. Both had their worst day on 16 Mar 2020: SPMO closed -15.35% and SPHQ -10.30%.
SPHQ had the deeper drawdown: it fell -31.59% from its peak on 12 Feb 2020 to a low on 23 Mar 2020, then closed back above the old peak on 4 Aug 2020, 4 months after the low; SPMO fell -30.95% from its peak on 19 Feb 2020 to a low on 23 Mar 2020, then closed back above the old peak on 8 Jul 2020, 3 months after the low.
Day to day the two usually move together: the correlation of their daily returns is 0.85, and they closed in opposite directions on 15.5% of the 2,761 days measured. The widest single-day gap came on 16 Mar 2020, when SPMO moved -15.35% and SPHQ -10.30%.
| Measure | SPMO | SPHQ |
|---|---|---|
| Annualised volatility | 20.4% | 17.6% |
| Worst day | -15.35% on 16 Mar 2020 | -10.30% on 16 Mar 2020 |
| Best day | +11.20% on 9 Apr 2025 | +10.30% on 24 Mar 2020 |
| Days moving 1% or more | 28.5% of days | 24.0% of days |
| Deepest drawdown | -30.95% | -31.59% |
| Peak to trough | 19 Feb 2020 → 23 Mar 2020 | 12 Feb 2020 → 23 Mar 2020 |
| Back above the old peak | 8 Jul 2020 · 3 months | 4 Aug 2020 · 4 months |
Years SPMO and SPHQ parted ways
In 10 of the 11 completed calendar years both funds were trading, the two returns ended more than 5 points apart. The widest split was 2024: SPMO returned +45.82% and SPHQ +25.44%, a gap of 20.4 points. They rose together in 9 years and fell together in 2 years.
| Year | SPMO | SPHQ | Gap (SPMO − SPHQ) |
|---|---|---|---|
| 2025 | +26.58% | +13.25% | +13.3 pts |
| 2024 | +45.82% | +25.44% | +20.4 pts |
| 2023 | +17.56% | +24.83% | -7.3 pts |
| 2022 | -10.45% | -15.76% | +5.3 pts |
| 2021 | +22.51% | +27.59% | -5.1 pts |
| 2020 | +27.80% | +16.93% | +10.9 pts |
| 2019 | +25.93% | +33.63% | -7.7 pts |
| 2018 | -0.92% | -7.09% | +6.2 pts |
| 2017 | +27.76% | +19.10% | +8.7 pts |
| 2016 | +7.18% | +14.30% | -7.1 pts |
How often SPMO beat SPHQ over any 12 months
Across the 120 rolling 12-month windows since October 2015, measured month-end to month-end, SPMO finished ahead in 62.5% of them (75) and SPHQ in 37.5% (45).
$200 a month into each, 2016–2025
Putting $200 into each fund at the start of every month from January 2016 to December 2025 (120 payments, $24,000 in total) would have grown to $68,082 in SPMO and $51,517 in SPHQ, leaving SPMO $16,565 ahead.
| Outcome | SPMO | SPHQ |
|---|---|---|
| Paid in | $24,000 | $24,000 |
| Value at the end of 2025 | $68,082 | $51,517 |
| Gain on the money paid in | +$44,082 | +$27,517 |
| Gain in % | +183.68% | +114.65% |
Each payment rides the return of the month it lands in, dividends reinvested. Only calendar years with all twelve months of data for both funds count, so the plan may start later than the shared history.
Frequently asked
Is SPMO or SPHQ better?
Across the 12 calendar years both funds were trading, SPMO finished the year ahead 8 times and SPHQ 4 times. $10,000 invested at the start of 2016 was worth $51,975 in SPMO versus $37,666 in SPHQ by the end of 2025, dividends reinvested. Past returns don't promise future ones — but this is what actually happened.
What is the difference between SPMO and SPHQ?
SPMO tracks the S&P 500 Momentum Index while SPHQ follows the S&P 500 Quality Index, so they own different slices of the market and their years can look very different. SPMO charges 0.13% a year in running costs and SPHQ charges 0.15% — SPMO is the cheaper fund to hold. Both funds distribute: dividends land in your account as cash instead of being reinvested automatically.
Which is more volatile, SPMO or SPHQ?
SPMO swung more than SPHQ: annualised volatility of 20.4% for SPMO against 17.6% for SPHQ, with SPMO moving 1% or more on 28.5% of trading days and SPHQ on 24.0%. Both had their worst day on 16 Mar 2020: SPMO closed -15.35% and SPHQ -10.30%.
Which had the deeper drawdown, SPMO or SPHQ?
SPHQ had the deeper drawdown: it fell -31.59% from its peak on 12 Feb 2020 to a low on 23 Mar 2020, then closed back above the old peak on 4 Aug 2020, 4 months after the low; SPMO fell -30.95% from its peak on 19 Feb 2020 to a low on 23 Mar 2020, then closed back above the old peak on 8 Jul 2020, 3 months after the low.
How often did SPMO beat SPHQ over a 12-month period?
Across the 120 rolling 12-month windows since October 2015, measured month-end to month-end, SPMO finished ahead in 62.5% of them (75) and SPHQ in 37.5% (45).
What would $10,000 in SPMO have become?
$10,000 invested in SPMO at the start of 2016 grew to $51,975 by the end of 2025, with dividends reinvested — an average of 17.9% per year.
Related comparisons
More head-to-heads featuring SPMO or SPHQ.
Source: Yahoo Finance daily adjusted closes for the US primary listings, dividends reinvested. Prices through · refreshed 7 Oct 2026, 08:49 UTC. How every number is calculated.