What distinguishes the investment approaches of SPMO and VOO?

SPMO is designed to capture momentum within the S&P 500, focusing on stocks showing strong relative price strength. Its holdings, such as MU and NVDA, reflect these dynamic factors. VOO, in contrast, replicates the entire S&P 500 index for broad market exposure. While both share top holdings like NVDA and AVGO, VOO also holds stable giants like AAPL and MSFT. SPMO offers a targeted strategy, whereas VOO provides a comprehensive, static representation of the broader US large-cap equity landscape.

How does the definition of 'Large Blend' apply to these two ETFs?

'Large Blend' indicates that both SPMO and VOO primarily invest in large-capitalisation companies, offering a mix of growth and value characteristics. Fund A, SPMO, selects momentum stocks from the S&P 500, which can result in high weights in technology (NVDA, AVGO) and semiconductors (MU), skewing towards growth. Fund B, VOO, holds all 500 constituents, ensuring diversification across the entire market. Although their underlying strategies differ significantly, their shared category reflects their focus on established, major US corporations.

What does a fund's inception date tell us about its history?

An ETF's inception date marks its establishment, providing a measure of its historical operational record. VOO was launched on September 7, 2010, allowing for a longer period of performance data to be observed across diverse market cycles. SPMO's inception is October 9, 2015, offering a shorter operational history. Investors often consider these dates when evaluating stability and track record. Fund A has 11 years of history, while Fund B has nearly 16, reflecting different stages of market presence and development for each respective fund.

How do the expense ratios of SPMO and VOO compare, and what does this mean for investors?

VOO has a significantly lower expense ratio of 0.03%, compared to SPMO's 0.13%. This 0.10 percentage point difference represents an annual cost reduction for investors in VOO. Over long investment horizons, even small fee differences can accumulate. A lower expense ratio means more of the fund's gross return is retained by the investor. However, the higher fee for SPMO may be attributed to the costs associated with its specific momentum factor methodology, which involves active management-like rebalancing compared to a traditional index.

How do the net assets of SPMO and VOO differ, and why might this matter?

VOO manages substantially more net assets, reported at $1.08 trillion, whereas SPMO has $28.9 billion. A large asset base can contribute to enhanced liquidity and economies of scale, potentially keeping trading costs low. VOO's size reflects its broad market appeal. However, SPMO's size is still significant, suggesting robust investor interest in its momentum strategy. For investors, these figures indicate that both funds are well-established, with VOO being one of the largest ETFs globally due to its extensive index tracking approach.

How do the dividend yields of SPMO and VOO compare?

Based on the provided data, VOO currently has a dividend yield of 1.03%, which is higher than SPMO's 0.72%. This indicates that, based on recent distributions relative to current share prices, VOO offers a more substantial income return. However, dividend yields can fluctuate with share prices and company payout policies. While these figures suggest VOO is more income-generative at this moment, they do not represent the total return potential. Investors should understand that distribution amounts can vary over time for both funds.

How do the top holdings of SPMO and VOO reflect their different strategies?

While both funds hold NVDA, AVGO, GOOGL, GOOG, and MU in their top ten, the weighting differs due to their strategies. SPMO's top holding is MU at 11.09%, indicating its momentum approach. VOO's top holding is NVDA at 8.08%, and MU is only 1.63%, reflecting broader S&P 500 weightings. This shows SPMO concentrates on stocks currently exhibiting strong price momentum, which can lead to higher weights in specific names compared to the diversified, market-cap weighted exposure provided by Fund B.

What does the sector concentration in SPMO's top holdings imply?

SPMO's top holdings are heavily concentrated in technology and semiconductor companies, specifically MU (11.09%), NVDA (9.02%), and AVGO (6.05%). This suggests that its momentum strategy tends to overweight sectors experiencing strong recent price performance. Consequently, SPMO may be more susceptible to sector-specific downturns compared to a fund holding the entire index. Investors should consider that this concentrated approach aims to capitalise on growth trends, which can also amplify risks if the momentum reverses sharply or the sector faces a correction.

Why does VOO include companies like JNJ and XOM in its holdings, and SPMO also does so?

VOO, tracking the S&P 500, inherently includes large-cap companies across all sectors, such as JNJ and XOM, for diversified market representation. Interestingly, JNJ (4.74%) and XOM (3.21%) also appear in SPMO's top ten, suggesting that even companies in more traditional sectors like healthcare and energy can exhibit strong momentum if their relative price performance is robust. This highlights that SPMO's methodology is dynamic, selecting for current momentum regardless of sector, whereas VOO maintains a balanced, market-wide allocation at all times.

Why are sector weights listed as 'not available' for both SPMO and VOO?

According to the ground truth data, sector weights for both SPMO and VOO are listed as 'not available'. This means the specific percentages allocated to sectors like technology, healthcare, or financials are not explicitly provided by the source data from Yahoo Finance. While one can infer significant technology exposure from top holdings like NVDA and MU, the exact sector breakdown remains undisclosed. Investors seeking detailed sector-level analysis would need to consult the funds' official prospectuses or fact sheets for this information.

How should investors interpret the 'Index tracked: not available' field for these ETFs?

The ground truth data indicates 'Index tracked: not available' for both SPMO and VOO. This means the precise underlying index names are not specified in this particular dataset. However, we know SPMO is an Invesco S&P 500 Momentum ETF, implying it tracks a S&P 500 momentum index, and VOO is the S&P 500 Vanguard ETF, tracking the S&P 500 index. This information gap simply requires users to rely on the fund names and their generally understood strategies, rather than explicit index identifiers in this specific data table.

What are the main considerations when choosing between a momentum ETF like SPMO and a broad index ETF like VOO?

Investors considering SPMO versus VOO must evaluate their goals. VOO offers diversified, lower-cost exposure to the entire S&P 500, suitable for a core portfolio holding. Its 0.03% expense ratio reflects this passive approach. SPMO provides targeted exposure to momentum stocks within the S&P 500, with a 0.13% fee. This strategy aims for potential outperformance by concentrating on winners (e.g., MU at 11.09%), but may carry higher risk if momentum reverses. Choice depends on desired investment style: broad market replication or factor-specific strategy.

SPMO vs VOO

Two funds, one decision: we compare cost, performance and what each ETF actually holds in September 2026.

Compare Invesco S&P 500 Momentum ETF and S&P 500 Vanguard ETF. This page examines fees, holdings, dividends and how each fund tracks its market to help you understand their differences. Educational content, not financial advice.

Fund Snapshot

Key Fund Metrics

SPMO

Metric

VOO

0.13%

Expense Ratio

0.03%

0.72%

Dividend Yield

1.03%

$28.85B

Net Assets

$1.08T

102

Holdings

516

Oct 9, 2015

Inception Date

Sep 7, 2010

–

Index Tracked

–

Large Blend

Fund Category

Large Blend

VOO costs about $10.00 less per year for every $10,000 invested.

Shared Top Holdings

Holding	SPMO	VOO
MUMicron Technology, Inc.	11.09%	1.63%
NVDANVIDIA Corporation	9.02%	8.08%
AVGOBroadcom Inc.	6.05%	2.65%
GOOGLAlphabet Inc.	4.51%	3.01%
GOOGAlphabet Inc.	3.57%	2.40%

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Investment Analysis

SPMO

Pros

The fund’s low expense ratio enhances net returns for investors seeking cost-effective exposure.
Its diversified portfolio of large-cap equities offers broad participation across major sectors of the economy.
A long track record of steady performance and liquidity supports efficient market trading and investor confidence.

Considerations

The fund’s holdings heavily favour technology and growth stocks, potentially increasing exposure to sector-specific downturns.
Its performance may lag during periods when value stocks or defensive sectors outperform the broader market.
The expense ratio, while low, could be a minor drag on returns for very small or short-term investors.

VOO

Pros

It provides broad market exposure, ensuring diversification and reducing the impact of individual stock volatility.
It has a very low expense ratio, supporting cost-efficient investment strategies.
Its long-term track record and significant assets under management ensure high liquidity and stability.

Considerations

Exposure to large-cap equities may limit potential returns from small-cap or emerging markets.
Concentration in certain sectors could lead to correlated performance during sector-specific declines.
Its performance mirrors that of the index, potentially offering lower returns compared to actively managed funds in rising markets.

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About SPMO and VOO

SPMO (SPMO)

The Invesco S&P 500 Momentum ETF offers investors exposure to companies within the S&P 500 index that have demonstrated stronger price performance compared to the broader market in recent times. By focusing on stocks with positive momentum trends, the fund aims to capture opportunities in sectors or companies currently experiencing growth or renewed interest. It holds approximately 102 companies, reflecting a diversified approach within the large-cap category. With a low expense ratio of 0.13%, it provides a cost-effective way to gain this specific type of market exposure. Investors should note that while momentum strategies can perform well during trending markets, they may underperform during market reversals or periods of volatility. Values can rise and fall, and past performance is not a guarantee of future results. This ETF is suitable for those interested in understanding systematic investment approaches, keeping risk tolerance in mind.

VOO (VOO)

VOO is Vanguard’s exchange-traded fund designed to track the S&P 500 Index, offering broad exposure to about 500 of the largest publicly traded US companies. It aims to replicate the index’s performance minus fees by holding the same stocks in similar proportions, making it a straightforward, passive way to access large‑cap US equities. Investors commonly use VOO as a core holding for long‑term growth or as a simple building block in a diversified portfolio. It typically offers high liquidity and regular dividend distributions from underlying companies. As with any equity investment, VOO’s value can rise or fall with the market, and past performance is not a guide to future returns. Fees, trading costs and potential tracking error reduce returns slightly. This information is general and educational only and not personalised financial advice — consider your own circumstances or speak to a qualified adviser before investing.

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SPMO vs VOO

Fund Snapshot