SPMO
S&P 500 Momentum ETF — the trend-following factor
Official name: S&P 500 Momentum ETF
Latest value
123.3400
as of 2026-04-10
All-time percentile
100th
1-year change
+40.9%
Time series
Showing 628 of 1 255 data points
About this series
Invesco S&P 500 Momentum ETF. Tracks an index of the top ~100 S&P 500 stocks ranked by 12-month price performance (excluding the most recent month, to avoid short-term reversal).
Why it matters: Momentum is one of the most robust equity factors in the academic literature — stocks that have outperformed over the past year have historically continued to outperform, at least for a few months. SPMO is a convenient tradable proxy for this factor in the US large-cap space.
How to read it: Compare SPMO performance to ^GSPC. SPMO outperforming = momentum factor paying, trend-following strategies working. SPMO underperforming = market regime changing, potential mean-reversion. Sharp momentum drawdowns often occur at market-structure turning points.
Caveats: Only goes back to late 2015, so the historical record is short. Momentum strategies have well-documented crash episodes (e.g., April 2009) where they can lose a year of gains in a week.