Dividend comparison
SPMO vs VFMO: Which Is Better?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Invesco S&P 500 Momentum ETF and Vanguard U.S. Momentum Factor ETF, side by side. Updated October 21, 2026.
SPMO vs VFMO: key differences
The short answer, from the latest data on this page.
- Fees. Both charge about 0.13% a year, so cost is not what separates them.
- Income. SPMO pays more income, yielding 0.78% over the last twelve months versus 0.61% for VFMO. That is about $16 more a year on $10,000. SPMO pays semi-annual, VFMO pays quarterly.
- Performance. Over the last 5 years, SPMO returned 133.8% versus 70.5% for VFMO, with dividends reinvested. $10,000 would have grown to $23,378 in SPMO and $17,048 in VFMO.
- Risk. VFMO has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -25.8%, against -22.7% for SPMO.
- Diversification. VFMO holds 638 positions and SPMO holds 100. The ten largest positions make up 61.2% of SPMO and 10.9% of VFMO.
- Overlap. At least 27% of the two portfolios overlap by weight, across 51 shared holdings.
- Dividend growth. SPMO grew its yearly payout 26.9% a year over the last 4 years, versus 10.0% for VFMO.
- Size. SPMO is the larger fund with $22.0 billion in assets, against $1.9 billion for VFMO.
Bottom line: SPMO fits better if you care most about stronger 5-year returns, smaller drawdowns and faster dividend growth. VFMO fits better if you care most about broader diversification.
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 | VFMO Vanguard U.S. Momentum Factor ETF |
|---|---|---|
| Dividend yield (TTM) | 0.78% | 0.61% |
| Dividend / share (TTM) | $1.10 | $1.36 |
| Payout frequency | Semi-annual | Quarterly |
| Last dividend | $0.2432 on Sep 25, 2026 | $0.3074 on Sep 25, 2026 |
| Ex-dividend date | Sep 21, 2026 | Sep 23, 2026 |
| Dividend growth (CAGR) | 26.9% over 4 yrs | 10.0% over 4 yrs |
| Price | $141.95 | $220.63 |
| Dividend growth streak | 1 year | 2 years |
| Beta | 1.28 | 1.32 |
| Max drawdown (5Y) | -22.7% | -25.8% |
| Market cap | $14.59B | $1.90B |
| Exchange | AMEX | CBOE |
| Expense ratio | 0.13% | 0.13% |
| Assets under management | $21.96B | $1.90B |
| Number of holdings | 100 | 638 |
| Top 10 concentration | 61.2% | 10.9% |
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
VFMO
$5.12/mo
$61 /yr at 0.61% yield
Dividend history
Total dividends paid per share in each calendar year. SPMO pays semi-annual; VFMO pays quarterly.
| Year | SPMO | VFMO |
|---|---|---|
| 2025 | $0.8734 | $1.5700 |
| 2024 | $0.4577 | $1.1884 |
| 2023 | $1.0662 | $1.1663 |
| 2022 | $0.9450 | $1.9669 |
| 2021 | $0.3369 | $1.0724 |
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 $17,048 in VFMO.
| Period | SPMO | VFMO |
|---|---|---|
| 1 month | -4.87% | -2.94% |
| 3 months | -1.35% | -3.25% |
| Year to date | 18.97% | 15.36% |
| 1 year | 17.08% | 12.45% |
| 3 years | 154.30% | 107.63% |
| 5 years | 133.78% | 70.48% |
- SPMO
- VFMO
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
- VFMO
SPMO vs VFMO holdings overlap
At least 27% overlap by weight, with 51 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 | VFMO weight |
|---|---|---|
| AMATApplied Materials Inc | 2.39% | 1.22% |
| MUMicron Technology Inc | 8.43% | 1.21% |
| AMDAdvanced Micro Devices Inc | 5.23% | 1.15% |
| INTCIntel Corp | 4.46% | 1.10% |
| KLACKLA Corp | 1.09% | 1.24% |
| LRCXLam Research Corp | 2.58% | 1.02% |
| WDCWestern Digital Corp | 1.40% | 0.98% |
| SNDKSandisk Corp | 2.21% | 0.98% |
| MRVLMarvell Technology Inc | 0.96% | 0.96% |
| GEVGE Vernova Inc | 1.30% | 0.84% |
Top 10 holdings
Largest positions by portfolio weight.
SPMO100 holdings total
Quick verdict
SPMO fits better if you care most about stronger 5-year returns, smaller drawdowns and faster dividend growth. VFMO fits better if you care most about broader diversification. Model the holding inside your real portfolio before deciding.
Still deciding? Compare them in your portfolio
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Frequently asked questions
Is SPMO or VFMO better for dividend income?
It depends on your goals. SPMO currently yields 0.78% Trailing Twelve Months (TTM) while VFMO yields 0.61%. 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 VFMO?
Invesco S&P 500 Momentum ETF (SPMO) is an ETF listed on AMEX. Vanguard U.S. Momentum Factor ETF (VFMO) 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 VFMO?
They cost about the same: SPMO charges 0.13% a year and VFMO charges 0.13%.
Which has performed better, SPMO or VFMO?
Over the last 5 years, SPMO has the higher total return with dividends reinvested: SPMO returned 133.8% and VFMO returned 70.5%. Past performance does not predict future returns.
Which is riskier, SPMO or VFMO?
Measured by the worst peak-to-trough decline over the last five years, VFMO has been riskier: SPMO fell as much as 22.7% and VFMO as much as 25.8%. Their betas are 1.28 and 1.32.
How much do SPMO and VFMO overlap?
At least 27% of the two portfolios overlap by weight, across 51 shared holdings. The largest shared positions are AMAT, MU, AMD. Holding both still adds meaningful diversification.
How often do SPMO and VFMO pay dividends?
SPMO pays semi-annual and VFMO pays quarterly.
How much income does $10,000 in SPMO vs VFMO generate?
At current TTM yields, $10,000 in SPMO would generate roughly $6.46 per month ($78 annually). The same amount in VFMO would produce about $5.12 per month ($61 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both SPMO and VFMO?
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 VFMO with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how SPMO and VFMO 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.
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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.