Dividend comparison
SPMO vs QUAL: Which Is Better?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Invesco S&P 500 Momentum ETF and iShares MSCI USA Quality Factor ETF, side by side. Updated October 21, 2026.
SPMO vs QUAL: key differences
The short answer, from the latest data on this page.
- Fees. SPMO is cheaper at 0.13% a year versus 0.15% for QUAL. On $10,000 that is $2 a year less in fees.
- Income. Their trailing yields are almost the same: 0.78% for SPMO and 0.84% for QUAL. SPMO pays semi-annual, QUAL pays quarterly.
- Performance. Over the last 5 years, SPMO returned 133.8% versus 71.5% for QUAL, with dividends reinvested. $10,000 would have grown to $23,378 in SPMO and $17,151 in QUAL.
- Risk. QUAL has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -28.2%, against -22.7% for SPMO.
- Diversification. QUAL holds 118 positions and SPMO holds 100. The ten largest positions make up 61.2% of SPMO and 45.1% of QUAL.
- Overlap. 35% of the two portfolios overlap by weight, across 25 shared holdings.
- Dividend growth. SPMO grew its yearly payout 26.9% a year over the last 4 years, versus 1.6% for QUAL.
- Size. QUAL is the larger fund with $48.6 billion in assets, against $22.0 billion for SPMO.
Bottom line: SPMO has the edge on these figures, with stronger 5-year returns, smaller drawdowns and faster dividend growth. QUAL does not lead on any of the measures compared here.
Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
| Metric | SPMO Invesco S&P 500 Momentum ETF | QUAL iShares MSCI USA Quality Factor ETF |
|---|---|---|
| Dividend yield (TTM) | 0.78% | 0.84% |
| Dividend / share (TTM) | $1.10 | $1.89 |
| Payout frequency | Semi-annual | Quarterly |
| Last dividend | $0.2432 on Sep 25, 2026 | $0.4727 on Sep 18, 2026 |
| Ex-dividend date | Sep 21, 2026 | Sep 15, 2026 |
| Dividend growth (CAGR) | 26.9% over 4 yrs | 1.6% over 4 yrs |
| Price | $141.95 | $225.69 |
| Dividend growth streak | 1 year | 2 years |
| Beta | 1.28 | 0.90 |
| Max drawdown (5Y) | -22.7% | -28.2% |
| Market cap | $14.59B | $48.40B |
| Exchange | AMEX | CBOE |
| Expense ratio | 0.13% | 0.15% |
| Assets under management | $21.96B | $48.61B |
| Number of holdings | 100 | 118 |
| Top 10 concentration | 61.2% | 45.1% |
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.
SPMO
$6.46/mo
$78 /yr at 0.78% yield
QUAL
$6.98/mo
$84 /yr at 0.84% yield
Dividend history
Total dividends paid per share in each calendar year. SPMO pays semi-annual; QUAL pays quarterly.
| Year | SPMO | QUAL |
|---|---|---|
| 2025 | $0.8734 | $1.8588 |
| 2024 | $0.4577 | $1.9073 |
| 2023 | $1.0662 | $1.7090 |
| 2022 | $0.9450 | $1.8144 |
| 2021 | $0.3369 | $1.7441 |
Strategy: Factor and momentum
Rules-based funds that tilt toward a single trait linked to long-run returns, such as momentum, quality or low volatility. Momentum funds rebalance into recent winners, quality funds favor high profitability and strong balance sheets, and low-volatility funds pick the steadiest stocks. The same label can hide very different rules, so the index methodology matters more than the name.
Factor tilts go through long dry spells, and momentum funds can turn over quickly and get caught out when market leadership changes.
Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 20, 2021 would now be worth $23,378 in SPMO and $17,151 in QUAL.
| Period | SPMO | QUAL |
|---|---|---|
| 1 month | -4.87% | 2.97% |
| 3 months | -1.35% | 4.25% |
| Year to date | 18.97% | 14.32% |
| 1 year | 17.08% | 16.43% |
| 3 years | 154.30% | 76.89% |
| 5 years | 133.78% | 71.51% |
- SPMO
- QUAL
Both series indexed to 100 on 2021-10-20 using the adjusted closing price series. Past performance does not guarantee future results.
Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
- SPMO
- QUAL
SPMO vs QUAL holdings overlap
35% overlap by weight, with 25 holdings in common. Overlap adds up the smaller of the two weights for every stock both funds own, so 100% would mean identical portfolios.
| Largest shared holdings | SPMO weight | QUAL weight |
|---|---|---|
| AAPLApple Inc | 9.97% | 7.22% |
| NVDANVIDIA Corp | 9.24% | 6.20% |
| LRCXLam Research Corp | 2.58% | 3.18% |
| XOMExxonMobil Holdings Corp | 3.59% | 2.45% |
| AMATApplied Materials Inc | 2.39% | 2.47% |
| JNJJohnson & Johnson | 4.68% | 2.00% |
| GOOGLAlphabet Inc | 5.12% | 1.94% |
| GOOGAlphabet Inc | 4.11% | 1.52% |
| MRKMerck & Co Inc | 2.31% | 1.35% |
| KLACKLA Corp | 1.09% | 2.20% |
Top 10 holdings
Largest positions by portfolio weight.
SPMO100 holdings total
Quick verdict
SPMO has the edge on these figures, with stronger 5-year returns, smaller drawdowns and faster dividend growth. QUAL does not lead on any of the measures compared here. Model the holding inside your real portfolio before deciding.
Still deciding? Compare them in your portfolio
Forecast dividend income, track payouts, and see how SPMO vs QUAL fits with the rest of your holdings. Free to start — no credit card required for the trial.
Frequently asked questions
Is SPMO or QUAL better for dividend income?
It depends on your goals. SPMO currently yields 0.78% Trailing Twelve Months (TTM) while QUAL yields 0.84%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between SPMO and QUAL?
Invesco S&P 500 Momentum ETF (SPMO) is an ETF listed on AMEX. iShares MSCI USA Quality Factor ETF (QUAL) is an ETF listed on CBOE. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, SPMO or QUAL?
SPMO has the lower expense ratio. SPMO charges 0.13% a year and QUAL charges 0.15%, a difference of $2 a year on a $10,000 investment.
Which has performed better, SPMO or QUAL?
Over the last 5 years, SPMO has the higher total return with dividends reinvested: SPMO returned 133.8% and QUAL returned 71.5%. Past performance does not predict future returns.
Which is riskier, SPMO or QUAL?
Measured by the worst peak-to-trough decline over the last five years, QUAL has been riskier: SPMO fell as much as 22.7% and QUAL as much as 28.2%. Their betas are 1.28 and 0.90.
How much do SPMO and QUAL overlap?
About 35% of the two portfolios overlap by weight, across 25 shared holdings. The largest shared positions are AAPL, NVDA, LRCX. Holding both still adds meaningful diversification.
How often do SPMO and QUAL pay dividends?
SPMO pays semi-annual and QUAL pays quarterly.
How much income does $10,000 in SPMO vs QUAL generate?
At current TTM yields, $10,000 in SPMO would generate roughly $6.46 per month ($78 annually). The same amount in QUAL would produce about $6.98 per month ($84 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both SPMO and QUAL?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare SPMO vs QUAL with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how SPMO and QUAL fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.
Related comparisons
For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.