ETF Evaluator: Invesco S&P 500® Momentum ETF (SPMO) Follow This ETF

Invesco S&P 500® Momentum ETF Overview

Invesco S&P 500® Momentum ETF (SPMO) is a passively managed U.S. Equity Large Blend exchange-traded fund (ETF). Invesco launched the ETF in 2015.

The investment seeks to track the investment results (before fees and expenses) of the S&P 500 Momentum Index. The fund generally will invest at least 90% of its total assets in the securities that comprise the underlying index. The underlying index is designed to measure the performance of approximately 100 stocks in the S&P 500® Index that have the highest "momentum score." In general, momentum is the tendency of an investment to exhibit persistence in its relative performance; a "momentum style" of investing emphasizes investing in securities that have had better recent performance compared to other securities. It is non-diversified.

About Invesco S&P 500® Momentum ETF (SPMO)

There are 3 members of the management team with an average tenure of 9.33 years: Peter Hubbard (2015), Michael Jeanette (2015) and Pratik Doshi (2019). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and S&P 500 Momentum TR USD index with a weighting of 100%. Invesco S&P 500® Momentum ETF has 100 securities in its portfolio. The top 10 holdings constitute 52.1% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.

Invesco S&P 500® Momentum ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Invesco S&P 500® Momentum ETF has 0.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 99.7% There is 0.3% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Invesco S&P 500® Momentum ETF has 0.0% of the portfolio in cash.

Assets Under Management

The fund has $22 billion in total assets, which is above the $13 billion average for the Large Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

SPMO Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Invesco S&P 500® Momentum ETF expense ratio is low compared to funds in the Large Blend category. Invesco S&P 500® Momentum ETF has an expense ratio of 0.13%, which is 69% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Invesco S&P 500® Momentum ETF has a portfolio turnover rate of 44%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 162% for the Large Blend category.

Recently, in the month of June 2026, Invesco S&P 500® Momentum ETF returned 7.5%, which earned it a grade of A, as the Large Blend category had an average return of -0.0%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.

Invesco S&P 500® Momentum ETF has a trailing yield of 0.65%, which is below the 1.12% category average. The fund normally distributes its income quarterly.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Invesco S&P 500® Momentum ETF Grades

Year to date, the ETF has returned 36.0%, 25.7 percentage points better than the category, which translates into a grade of A. The fund has returned 44.9% over the past year (grade of A), 43.6% over the past three years (grade of A) and 23.6% per year over the past five years (grade of A) and 21.4% per year over the past 10 years (grade of A).

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