SPMO vs USCA: Grades, Fees and Holdings Compared

Invesco S&P 500 Momentum ETF

SPMOBNYSE Arca

Xtrackers MSCI USA Climate Action Equity ETF

USCAANYSE Arca

Overlap

31.0%by weight

Expense ratio

USCA −0.06pt a year

SPMO0.13%USCA0.07%

Avg volume · 30D

SPMO 20.8×the volume

SPMO2.04MUSCA97.9K

3Y return · a year

SPMO +14.1pt

SPMO+35.4%USCA+21.3%

SPMO vs USCA Performance

Oct 31, 2025 – Oct 30, 2026

+12.9%SPMO+6.8%USCA

Expense ratio: SPMO 0.13%; USCA 0.07%, better
Fund size: SPMO $21.4B; USCA $3.42B
1Y total return: SPMO +12.9%, better; USCA +6.8%
Yield (12M): SPMO 0.81%; USCA 1.06%, better
Holdings: SPMO 102; USCA 392
Avg volume (30D): SPMO 2.04M sh, better; USCA 97.9K sh
NAV per share: SPMO $136.23; USCA $44.82
52W range

ETF.net Grade

Pillar letters and Scores for SPMO, USCA, with each pillar’s weight
Pillar	SPMO	USCA
Cost30% weight	A90	A97Higher
Mission25% weight	B57	A91Higher
Risk15% weight	D36	C54Higher
Tradability15% weight	A94Higher	B61
Holdings10% weight	D25	D29Higher
Durability5% weight	A82Higher	C49

Rank among US Factor Index funds

How we build Categories ›

Same Category. SPMO and USCA are both graded against the same 30 US Factor Index funds, so their Grades compare head to head.

US Factor Index⁠

Category · 30 funds

See all 30 ›

USCA ranks 2nd and SPMO 7th of 30 funds in the US Factor Index Category.

Rank 1AMGVVanguard Morningstar Mega Cap Value ETFScore 78
Rank 2AUSCAXtrackers MSCI USA Climate Action Equity ETFScore 74
Rank 3ASIZEiShares MSCI USA Size Factor ETFScore 72
Rank 6BDGRWWisdomTree U.S. Quality Dividend Growth FundScore 68
Rank 7BSPMOInvesco S&P 500 Momentum ETFScore 67
Rank 8BPRFInvesco RAFI US 1000 ETFScore 66

Our read on each fund

ETF.net Research

SPMOBInvesco S&P 500 Momentum ETF

USCAAXtrackers MSCI USA Climate Action Equity ETF

In short

SPMO Momentum without leaving the S&P 500. SPMO ranks the index's members on momentum and keeps roughly the top 100, charging 0.13% for a rules-based bet on whatever has already been working.

USCA The largest US ETF debut on record when it launched in 2023, seeded by a Finnish pension fund. It owns roughly 400 US large- and mid-caps, keeping only the top half of each sector on MSCI's climate-transition scoring, for 0.07% a year.

Stated mandate

SPMO The fund tracks the S&P 500 Momentum Index before fees and expenses. It generally invests at least 90% of assets in index securities, which are selected from the S&P 500 based on high momentum scores.

USCA The fund seeks to track the MSCI USA Climate Action Index before fees and expenses through a passive indexing strategy. The index selects U.S. large- and mid-capitalization companies assessed as leading sector peers in climate-transition positioning and actions.

Why people hold it

SPMO 0.13% a year against a 0.69% median for momentum funds, undercutting iShares' MTUM (0.15%) and matching Vanguard's VFMO (0.13%).
The rulebook is public and tight: at least 90% of assets in S&P 500 Momentum Index names, picked on momentum scores. No stockpicker sitting on top of the screen.invesco.com
One of the more actively traded funds in its niche and a multi-billion-dollar book, so orders usually meet a deep market rather than a thin one.
Live since 2015 with Invesco behind it, and among the stronger overall builds in the US momentum group.

USCA Costs 0.07% a year against a typical screened US equity peer near 0.28%, and undercuts bigger ESG names like SUSA at 0.25%.
No blanket sector bans: the index keeps the top 50% of companies in each GICS sector, so energy and industrials stay in, represented by their climate-transition leaders.dws.com msci.com
Rules do the picking. MSCI's climate metrics, ESG ratings and controversy screens set the roster; no manager discretion, no stock-by-stock calls.dws.com
A multi-billion-dollar fund with an institutional anchor investor from day one, and it pays quarterly.businesswire.com

Worth knowing

SPMO Roughly 100 names out of 500 means concentration arrives as a side effect: whichever sector has been leading can dominate, and the fund can look little like the S&P 500.
Momentum is a backward-looking screen. It holds the recent leaders until the index reshuffles, which is exactly when the market turns hardest against trend followers.invesco.com
Distributions land quarterly and are a byproduct of what the screen owns, not the point of the fund.

USCA Half of each sector is screened out, so results can drift from a plain MSCI USA index fund in either direction.dws.com
Market-cap weighted and filed as non-diversified, so America's largest companies carry heavy weight at the top.dws.com
Moderately traded next to the giants of US equity, so spreads can be a bigger part of the cost of getting in and out.

Full SPMO profile⁠

Full USCA profile⁠

SPMO vs USCA Holdings

How SPMO and USCA differ

Overlap by weight

31.0%

Shared holdings make up 91.7% of SPMO and 31.0% of USCA.

Level by level

Holdings76 in both31.0%
Sector11 Sectors84.8%
Asset classEquity100%
Countryby domicile99.5%

Sector

Sector weights in SPMO and USCA, widest gap first
Sector	More in SPMOMore in USCA	SPMO	USCA
Consumer Discretionary	USCA +7.9 points	1.5%	9.4%
Technology	SPMO +6.8 points	50.2%	43.4%
Energy	SPMO +5.0 points	6.9%	1.9%
Communication	USCA +2.7 points	8.9%	11.6%
Financials	USCA +1.9 points	7.1%	9.0%
Health Care	SPMO +1.6 points	11.7%	10.1%
Utilities	USCA +1.3 points	0.2%	1.5%
Consumer Staples	USCA +1.1 points	2.7%	3.8%
Industrials	SPMO +1.0 points	7.2%	6.2%
Real Estate	SPMO +0.7 points	2.4%	1.7%
Materials	USCA +0.3 points	1.1%	1.4%

Country, concentration and asset class

Country by domicile

Country weights in SPMO and USCA, widest gap first
Country	More in SPMOMore in USCA	SPMO	USCA
United States	USCA +0.1 points	99.2%	99.3%
Switzerland	SPMO +0.4 points	0.6%	0.2%
Mexico	SPMO +0.1 points	0.2%	0.1%
Brazil	USCA +0.1 points	0.0%	0.1%
China	USCA +0.1 points	0.0%	0.1%
Canada	Same weight	0.0%	0.0%
United Kingdom	Same weight	0.0%	0.0%
Ireland	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

SPMO50.1%
USCA44.6%

Securities held

SPMO100
USCA391

Asset class

SPMO: Equity
USCA: Equity

Holdings

Only in SPMO24
In both76
Only in USCA315

Only in SPMO

24 securities, 8.2% of SPMO by weight

Sandisk Corp2.24%
Valero Energy Corp0.93%
Marathon Petroleum Corp0.81%
Phillips 660.69%
Chubb Ltd0.61%
Lockheed Martin Corp0.58%
Johnson Controls International plc0.41%
Targa Resources Corp0.40%
Centene Corp0.23%
Viatris Inc0.17%
Casey's General Stores Inc0.14%
Quest Diagnostics Inc0.13%
Host Hotels & Resorts Inc0.12%
Edison International0.12%
APA Corp0.10%
Incyte Corp0.10%
Loews Corp0.09%
Assurant Inc0.08%
EchoStar Corp0.06%
Invesco Ltd0.05%
Federal Realty Investment Trust0.05%
Invesco Government & Agency Portfolio0.05%
Franklin Templeton Inc0.05%
DaVita Inc0.03%

Only in USCA

315 securities, 68.6% of USCA by weight

NVIDIA Corp8.82%
Microsoft Corp6.90%
Amazon.com Inc4.36%
Broadcom2.76%
Meta Platform Inc Class A2.53%
Tesla2.14%
Lilly (Eli) & Co2.13%
Visa Inc-Class A Shares1.29%
JPMorgan Chase & Co1.26%
Wal-Mart Stores Inc1.01%
AbbVie Inc0.98%
Mastercard Inc-Class A0.97%
Palantir Technologies Inc Class A0.75%
Procter & Gamble Co0.71%
Home Depot Inc0.62%
Netflix Inc0.48%
Thermo Fisher Scientific Inc0.48%
Amgen Inc0.47%
Bank of America Corp0.46%
2226792D0.44%
General Electric Co0.44%
Costco Wholesale Corp0.42%
Chevron Corp0.41%
Gilead Sciences Inc0.40%
Verizon Communications Inc0.35%
Pepsico0.35%
salesforce.com Inc0.34%
McDonald's Corp0.34%
International Business Machine Corp0.34%
Arista Networks Inc0.34%
Union Pacific Corp0.34%
QUALCOMM Inc0.33%
Pfizer Inc0.33%
NextEra Energy Inc0.32%
American Express Co0.32%
Oracle Corp0.32%
Blackrock Inc0.31%
Deere & Co0.31%
Accenture Ltd-Cl A0.29%
AT&T Inc0.28%
Danaher Corp0.28%
Charles Schwab Corp0.27%
Walt Disney Co0.27%
Eaton Corp PLC0.27%
S&P Global0.27%
Vertex Pharm0.26%
Abbott Laboratories0.26%
Wells Fargo & Co0.24%
Starbucks Corp0.22%
Automatic Data Process0.22%

Weight gaps

All 76 Holdings in both funds, largest gap first.

Holding weights in SPMO and USCA, widest gap first
Holding	More in SPMOMore in USCA	SPMO	USCA
Micron Technology IncMU	SPMO +8.39 points	8.86%	0.47%
Intel CorpINTC	SPMO +4.25 points	4.52%	0.27%
Advanced Micro Devices IncAMD	SPMO +4.00 points	5.54%	1.54%
Johnson & JohnsonJNJ	SPMO +3.75 points	4.98%	1.23%
ExxonMobil Holdings CorpXOM	SPMO +2.91 points	3.64%	0.73%
Lam Research CorpLRCX	SPMO +2.04 points	2.46%	0.42%
Applied Materials IncAMAT	SPMO +1.99 points	2.43%	0.44%
Cisco Systems IncCSCO	SPMO +1.70 points	2.47%	0.77%
Seagate Technology Holdings PLCSTX	SPMO +1.63 points	1.83%	0.20%
Merck & Co IncMRK	SPMO +1.60 points	2.29%	0.69%
Western Digital CorpWDC	SPMO +1.47 points	1.65%	0.18%
Caterpillar IncCAT	SPMO +1.30 points	1.71%	0.41%
Palo Alto Networks IncPANW	SPMO +1.21 points	1.77%	0.56%
Alphabet IncGOOGL	SPMO +1.14 points	4.22%	3.08%
UnitedHealth Group IncUNH	SPMO +1.14 points	1.83%	0.69%
RTX CorpRTX	SPMO +1.05 points	1.18%	0.13%
Coca-Cola Co/TheKO	SPMO +1.05 points	1.73%	0.68%
Alphabet IncGOOG	SPMO +0.97 points	3.41%	2.44%
Dell Technologies IncDELL	SPMO +0.84 points	1.02%	0.18%
Morgan StanleyMS	SPMO +0.82 points	1.13%	0.31%
Lumentum Holdings IncLITE	SPMO +0.82 points	0.94%	0.12%
Goldman Sachs Group Inc/TheGS	SPMO +0.76 points	1.13%	0.37%
Citigroup IncC	SPMO +0.73 points	0.93%	0.20%
KLA CorpKLAC	SPMO +0.70 points	1.09%	0.39%
Analog Devices IncADI	SPMO +0.68 points	1.06%	0.38%
Marvell Technology IncMRVL	SPMO +0.60 points	0.91%	0.31%
Welltower IncWELL	SPMO +0.57 points	0.88%	0.31%
CVS Health CorpCVS	SPMO +0.54 points	0.70%	0.16%
Apple IncAAPL	SPMO +0.53 points	10.02%	9.49%
Bank of New York Mellon Corp/TheBNY	SPMO +0.52 points	0.66%	0.14%
Ross Stores IncROST	SPMO +0.50 points	0.57%	0.07%
Bristol-Myers Squibb CoBMY	SPMO +0.44 points	0.68%	0.24%
US BancorpUSB	SPMO +0.41 points	0.50%	0.09%
Hewlett Packard Enterprise CoHPE	SPMO +0.40 points	0.50%	0.10%
Travelers Cos Inc/TheTRV	SPMO +0.39 points	0.47%	0.08%
PNC Financial Services Group Inc/ThePNC	SPMO +0.39 points	0.43%	0.04%
Ciena CorpCIEN	SPMO +0.39 points	0.47%	0.08%
Prologis IncPLD	SPMO +0.37 points	0.59%	0.22%
FedEx CorpFDX	SPMO +0.37 points	0.43%	0.06%
Corning IncGLW	SPMO +0.36 points	0.50%	0.14%
Howmet Aerospace IncHWM	SPMO +0.34 points	0.41%	0.07%
Nucor CorpNUE	SPMO +0.32 points	0.41%	0.09%
Parker-Hannifin CorpPH	SPMO +0.32 points	0.48%	0.16%
CSX CorpCSX	SPMO +0.31 points	0.49%	0.18%
Teradyne IncTER	SPMO +0.29 points	0.35%	0.06%
Cummins IncCMI	SPMO +0.29 points	0.39%	0.10%
General Motors CoGM	SPMO +0.29 points	0.40%	0.11%
Simon Property Group IncSPG	SPMO +0.29 points	0.42%	0.13%
State Street CorpSTT	SPMO +0.28 points	0.32%	0.04%
Monster Beverage CorpMNST	SPMO +0.27 points	0.40%	0.13%
Quanta Services IncPWR	SPMO +0.25 points	0.42%	0.17%
Marriott International Inc/MDMAR	SPMO +0.23 points	0.39%	0.16%
Target CorpTGT	SPMO +0.22 points	0.32%	0.10%
Keysight Technologies IncKEYS	SPMO +0.22 points	0.32%	0.10%
Comfort Systems USA IncFIX	SPMO +0.22 points	0.30%	0.08%
Coherent CorpCOHR	SPMO +0.21 points	0.23%	0.02%
Delta Air Lines IncDAL	SPMO +0.20 points	0.22%	0.02%
Monolithic Power Systems IncMPWR	SPMO +0.19 points	0.30%	0.11%
Cardinal Health IncCAH	SPMO +0.19 points	0.27%	0.08%
Westinghouse Air Brake Technologies CorpWAB	SPMO +0.18 points	0.25%	0.07%
Steel Dynamics IncSTLD	SPMO +0.18 points	0.23%	0.05%
Ventas IncVTR	SPMO +0.17 points	0.23%	0.06%
Archer-Daniels-Midland CoADM	SPMO +0.17 points	0.19%	0.02%
Aflac IncAFL	SPMO +0.16 points	0.27%	0.11%
NetApp IncNTAP	SPMO +0.15 points	0.21%	0.06%
Citizens Financial Group IncCFG	SPMO +0.14 points	0.15%	0.01%
Flex LtdFLEX	SPMO +0.14 points	0.18%	0.04%
Northern Trust CorpNTRS	SPMO +0.12 points	0.15%	0.03%
Principal Financial Group IncPFG	SPMO +0.11 points	0.13%	0.02%
Biogen IncBIIB	SPMO +0.10 points	0.17%	0.07%
JB Hunt Transport Services IncJBHT	SPMO +0.09 points	0.10%	<0.01%
Nordson CorpNDSN	SPMO +0.07 points	0.09%	0.02%
DuPont de Nemours IncDD	SPMO +0.06 points	0.09%	0.03%
Expeditors International of Washington IncEXPD	SPMO +0.06 points	0.11%	0.05%
Evergy IncEVRG	SPMO +0.06 points	0.08%	0.02%
IDEX CorpIEX	SPMO +0.06 points	0.09%	0.03%

All 100 SPMO holdings⁠All 394 USCA holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

SPMO vs USCA Cost

Overpaying SPMO vs USCA

$1,246

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

SPMO 0.13%
$2,726
USCA 0.07%
$1,480

Amount$10,000

Years30 years

Cost over time

SPMO 0.13%
USCA 0.07%
Overpaying

Year by year

Year	SPMO	USCA	Overpaying
10	$238	$128	$110
20	$930	$503	$427
30	$2,726	$1,480	$1,246

Expense ratio

0.13%SPMO
0.07%USCA, cheaper

USCA0.07%SPMO0.13%

0.05%0.63%

Middle half of US Factor Index funds
Median 0.30%

USCA 2nd cheapest of 30 funds

SPMO 4th cheapest of 30 funds

SPMO vs USCA Dividends

Last 12 months to Oct 30, 2026

Yield (12M): SPMO 0.81%; USCA 1.06%, better
Payout (12M): SPMO $1.10; USCA $0.47
Last payment: SPMO $0.24; USCA $0.10
Ex-dividend: SPMO Sep 21, 2026; USCA Sep 18, 2026
Paid on: SPMO Sep 25, 2026; USCA Sep 25, 2026
Frequency: SPMO Quarterly; USCA Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

SPMOQuarterly · 38 paymentsAll SPMO payments⁠

USCAQuarterly · 15 paymentsAll USCA payments⁠

SPMO vs USCA Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: SPMO 21.9%USCA 12.5%, better
Return per unit of riskSharpe ratio, 3 years: SPMO 1.30, betterUSCA 1.27
Worst fallMax drawdown, 5 years: SPMO −22.7%USCA −19.2%since Apr 2023
Market sensitivityBeta, 5 years: SPMO 1.28USCA 1.00; Market = 1

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