Dividend comparison
SPMO vs VUG: Which Is Better?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Invesco S&P 500 Momentum ETF and Vanguard Morningstar Growth ETF, side by side. Updated October 21, 2026.
SPMO vs VUG: key differences
The short answer, from the latest data on this page.
- Fees. VUG is cheaper at 0.03% a year versus 0.13% for SPMO. On $10,000 that is $10 a year less in fees.
- Income. SPMO pays more income, yielding 0.78% over the last twelve months versus 0.39% for VUG. That is about $38 more a year on $10,000. SPMO pays semi-annual, VUG pays quarterly.
- Performance. Over the last 5 years, SPMO returned 133.8% versus 78.4% for VUG, with dividends reinvested. $10,000 would have grown to $23,378 in SPMO and $17,845 in VUG.
- Risk. VUG has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -35.6%, against -22.7% for SPMO.
- Diversification. VUG holds 166 positions and SPMO holds 100. The ten largest positions make up 61.2% of SPMO and 63.1% of VUG.
- Overlap. 49% of the two portfolios overlap by weight, across 34 shared holdings.
- Dividend growth. SPMO grew its yearly payout 26.9% a year over the last 4 years, versus 6.9% for VUG.
- Size. VUG is the larger fund with $392.2 billion in assets, against $22.0 billion for SPMO.
Bottom line: SPMO fits better if you care most about more income today, stronger 5-year returns, smaller drawdowns and faster dividend growth. VUG fits better if you care most about lower fees and 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 | VUG Vanguard Morningstar Growth ETF |
|---|---|---|
| Dividend yield (TTM) | 0.78% | 0.39% |
| Dividend / share (TTM) | $1.10 | $0.35 |
| Payout frequency | Semi-annual | Quarterly |
| Last dividend | $0.2432 on Sep 25, 2026 | $0.0910 on Sep 30, 2026 |
| Ex-dividend date | Sep 21, 2026 | Sep 28, 2026 |
| Dividend growth (CAGR) | 26.9% over 4 yrs | 6.9% over 4 yrs |
| Price | $141.95 | $88.67 |
| Dividend growth streak | 1 year | 3 years |
| Beta | 1.28 | 1.27 |
| Max drawdown (5Y) | -22.7% | -35.6% |
| Market cap | $14.59B | $392.24B |
| Exchange | AMEX | AMEX |
| Expense ratio | 0.13% | 0.03% |
| Assets under management | $21.96B | $392.20B |
| Number of holdings | 100 | 166 |
| Top 10 concentration | 61.2% | 63.1% |
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
VUG
$3.25/mo
$39 /yr at 0.39% yield
Dividend history
Total dividends paid per share in each calendar year. SPMO pays semi-annual; VUG pays quarterly.
| Year | SPMO | VUG |
|---|---|---|
| 2025 | $0.8734 | $0.3351 |
| 2024 | $0.4577 | $0.3188 |
| 2023 | $1.0662 | $0.3003 |
| 2022 | $0.9450 | $0.2499 |
| 2021 | $0.3369 | $0.2567 |
Strategy: Large-cap growth
Funds that hold the faster-growing half of the large-cap market, selected by measures like earnings growth, sales growth and price momentum. In practice that means heavy weights in technology and communication companies, with the largest few names often making up a third of the fund or more. Dividends are small because growth companies reinvest their cash instead of paying it out.
Concentration in a handful of mega-cap stocks makes these funds swing harder than the broad market in both directions, and they offer little current income.
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 $17,845 in VUG.
| Period | SPMO | VUG |
|---|---|---|
| 1 month | -4.87% | 0.01% |
| 3 months | -1.35% | 4.01% |
| Year to date | 18.97% | 9.40% |
| 1 year | 17.08% | 10.23% |
| 3 years | 154.30% | 99.93% |
| 5 years | 133.78% | 78.45% |
- SPMO
- VUG
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
- VUG
SPMO vs VUG holdings overlap
49% overlap by weight, with 34 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 | VUG weight |
|---|---|---|
| AAPLApple Inc | 9.97% | 12.50% |
| NVDANVIDIA Corp | 9.24% | 13.48% |
| GOOGLAlphabet Inc | 5.12% | 5.16% |
| AVGOBroadcom Inc | 6.40% | 4.34% |
| GOOGAlphabet Inc | 4.11% | 4.09% |
| AMDAdvanced Micro Devices Inc | 5.23% | 2.66% |
| INTCIntel Corp | 4.46% | 1.45% |
| LRCXLam Research Corp | 2.58% | 1.11% |
| PLTRPalantir Technologies Inc | 1.55% | 1.10% |
| AMATApplied Materials Inc | 2.39% | 1.10% |
Top 10 holdings
Largest positions by portfolio weight.
SPMO100 holdings total
Quick verdict
SPMO fits better if you care most about more income today, stronger 5-year returns, smaller drawdowns and faster dividend growth. VUG fits better if you care most about lower fees and 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 VUG better for dividend income?
It depends on your goals. SPMO currently yields 0.78% Trailing Twelve Months (TTM) while VUG yields 0.39%. 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 VUG?
Invesco S&P 500 Momentum ETF (SPMO) is an ETF listed on AMEX. Vanguard Morningstar Growth ETF (VUG) is an ETF listed on AMEX. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, SPMO or VUG?
VUG has the lower expense ratio. SPMO charges 0.13% a year and VUG charges 0.03%, a difference of $10 a year on a $10,000 investment.
Which has performed better, SPMO or VUG?
Over the last 5 years, SPMO has the higher total return with dividends reinvested: SPMO returned 133.8% and VUG returned 78.4%. Past performance does not predict future returns.
Which is riskier, SPMO or VUG?
Measured by the worst peak-to-trough decline over the last five years, VUG has been riskier: SPMO fell as much as 22.7% and VUG as much as 35.6%. Their betas are 1.28 and 1.27.
How much do SPMO and VUG overlap?
About 49% of the two portfolios overlap by weight, across 34 shared holdings. The largest shared positions are AAPL, NVDA, GOOGL. Holding both still adds meaningful diversification.
How often do SPMO and VUG pay dividends?
SPMO pays semi-annual and VUG pays quarterly.
How much income does $10,000 in SPMO vs VUG generate?
At current TTM yields, $10,000 in SPMO would generate roughly $6.46 per month ($78 annually). The same amount in VUG would produce about $3.25 per month ($39 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both SPMO and VUG?
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 VUG with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how SPMO and VUG 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.