What is the main difference between SPMO and VOOG?

SPMO is a large blend momentum fund from Invesco, while VOOG is a large growth fund from Vanguard that tracks the S&P 500 Growth index. SPMO focuses on stocks with strong recent performance, whereas VOOG targets companies with higher growth potential. Both funds invest in US large-cap companies, but their strategies and selection criteria differ significantly.

How does an expense ratio affect my returns?

The expense ratio is the annual fee charged by the fund. SPMO has a 0.13% expense ratio, while VOOG has a 0.07% expense ratio. Although the difference seems small, it can compound over time, reducing overall returns. Lower expense ratios generally mean more of your investment stays working for you, especially in long-term holding scenarios.

Why is dividend yield important?

Dividend yield shows how much a fund pays in distributions relative to its share price. SPMO has a 0.72% yield, higher than VOOG's 0.43%. This means SPMO provides slightly more income from dividends. However, a higher yield does not always mean better returns, as it can indicate slower price growth or other risks.

Which fund is more cost-effective?

VOOG is more cost-effective with an expense ratio of 0.07%, compared to SPMO's 0.13%. This lower fee means you retain more of your investment returns over time. For investors focused on minimizing costs, VOOG's expense ratio is a more attractive feature.

What kind of investing goal is SPMO suited for?

SPMO is suited for investors seeking momentum exposure, which involves targeting stocks with strong recent performance. It can be part of a diversified portfolio focused on dynamic market trends. However, it may have higher turnover and less transparency on tracking methods.

What kind of investing goal is VOOG suited for?

VOOG is suited for investors seeking long-term growth exposure. By tracking the S&P 500 Growth index, it targets companies with higher growth potential. It is ideal for those who prefer a more stable, lower-cost option within the growth category.

How does the holdings overlap between the two funds affect my portfolio?

SPMO and VOOG share top holdings like MU, NVDA, AVGO, GOOGL, and GOOG. This overlap means they both have exposure to similar large-cap tech and industrial stocks. It can increase diversification benefits but may also concentrate risk if these stocks underperform.

How do these funds respond to different market conditions?

SPMO, with its momentum strategy, can perform well during periods of sustained trends in specific stocks. In contrast, VOOG focuses on growth companies, which may thrive in economic expansions. SPMO might experience higher volatility during market shifts, while VOOG can be affected by changes in growth sectors.

What liquidity does SPMO offer?

SPMO has net assets of $28.9 billion, providing substantial liquidity. This makes it easier for investors to trade large blocks without significantly affecting the fund's price. High liquidity is beneficial for both individual and institutional investors looking to enter or exit positions smoothly.

What liquidity does VOOG offer?

VOOG has $27.3 billion in net assets, ensuring strong liquidity and market stability. This fund is suitable for investors who require easy execution of trades. Its liquidity helps in maintaining tight bid-ask spreads and supports efficient trading.

SPMO vs VOOG

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

Explore a side-by-side comparison of the Invesco S&P 500 Momentum ETF and the Vanguard S&P 500 Growth ETF. This page examines fees, holdings, dividends, and how each fund tracks its market. Educational content, not financial advice.

Fund Snapshot

Key Fund Metrics

SPMO

Metric

VOOG

0.13%

Expense Ratio

0.07%

0.72%

Dividend Yield

0.43%

$28.85B

Net Assets

$27.25B

102

Holdings

154

Oct 9, 2015

Inception Date

Sep 7, 2010

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Index Tracked

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Large Blend

Fund Category

Large Growth

VOOG costs about $6.00 less per year for every $10,000 invested.

Shared Top Holdings

Holding	SPMO	VOOG
MUMicron Technology, Inc.	11.09%	3.00%
NVDANVIDIA Corporation	9.02%	14.85%
AVGOBroadcom Inc.	6.05%	4.87%
GOOGLAlphabet Inc.	4.51%	5.52%
GOOGAlphabet Inc.	3.57%	4.40%

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Investment Analysis

SPMO

Pros

SPMO features a reasonable expense ratio of 0.13% for a momentum-focused large blend fund.
The ETF offers a dividend yield of 0.72%, which is higher than many pure growth funds.
With net assets of $28.9 billion, SPMO provides substantial liquidity for investors trading large blocks.

Considerations

Top holdings are concentrated in a few tech and industrial stocks, increasing specific company risk.
Momentum strategies often exhibit higher turnover, which may lead to tax inefficiency compared to passive funds.
The index tracking method is not available, limiting transparency on how momentum signals are applied.

VOOG

Pros

VOOG has a low expense ratio of 0.07%, making it cost-effective for long-term growth exposure.
The fund tracks the S&P 500 Growth index, ensuring it is backed by a reputable issuer.
With $27.3 billion in net assets, VOOG maintains strong liquidity and market stability.

Considerations

Concentration in mega-cap tech stocks like NVDA and MSFT may expose investors to sector-specific downturns.
The dividend yield is relatively low at 0.43%, potentially less attractive for income-focused investors.
The index tracking methodology details are not available, which limits insight into specific growth criteria.

About SPMO and VOOG

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.

VOOG (VOOG)

The Vanguard S&P 500 Growth ETF aims to track the performance of large-cap growth stocks listed on the S&P 500 Index. With a low expense ratio of 0.07% and a history dating back to 2010, it offers a cost-effective way for investors to gain exposure to companies expected to grow faster than the average market. This fund holds around 154 stocks, focusing on businesses with strong earnings growth and sales trends. While it provides diversification within the growth sector of the large-cap market, investors should remember that growth stocks can be more volatile than value stocks, and past performance does not guarantee future results. As with any investment, consider your risk tolerance and overall financial strategy.

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SPMO vs VOOG

Fund Snapshot