OriginaveMTUM vs SPHQ: which ETF won each year?
Yearly returns side by side, one winner per year — dividends included, priced as you'd actually buy them.
MTUMtracks the MSCI USA Momentum SR Variant Index
SPYSPDR S&P 500 ETF Trusttracks the S&P 500 Index
VOOVanguard S&P 500 ETFtracks the S&P 500 Index- IVViShares Core S&P 500 ETFtracks the S&P 500 Index
- VTIVanguard Total Stock Market ETFtracks the CRSP US Total Market Index
QQQInvesco QQQ Trusttracks the Nasdaq-100 Index- QQQMInvesco NASDAQ 100 ETFtracks the Nasdaq-100 Index
- VGTVanguard Information Technology ETFtracks the MSCI US IMI Information Technology 25/50 Index
- ACWIiShares MSCI ACWI ETFtracks the MSCI ACWI Index
- VTVanguard Total World Stock ETFtracks the FTSE Global All Cap Index
- URTHiShares MSCI World ETFtracks the MSCI World Index
SCHGSchwab U.S. Large-Cap Growth ETFtracks the Dow Jones U.S. Large-Cap Growth Total Stock Market Index- SCHDSchwab U.S. Dividend Equity ETFtracks the Dow Jones U.S. Dividend 100 Index
- VTVVanguard Value ETFtracks the CRSP US Large Cap Value Index
- VUGVanguard Growth ETFtracks the CRSP US Large Cap Growth Index
- MTUMiShares MSCI USA Momentum Factor ETFtracks the MSCI USA Momentum SR Variant Index
- SPMOInvesco S&P 500 Momentum ETFtracks the S&P 500 Momentum Index
- SPHQInvesco S&P 500 Quality ETFtracks the S&P 500 Quality Index
SPHQtracks the S&P 500 Quality Index
- SPYSPDR S&P 500 ETF Trusttracks the S&P 500 Index
- VOOVanguard S&P 500 ETFtracks the S&P 500 Index
- IVViShares Core S&P 500 ETFtracks the S&P 500 Index
- VTIVanguard Total Stock Market ETFtracks the CRSP US Total Market Index
- QQQInvesco QQQ Trusttracks the Nasdaq-100 Index
- QQQMInvesco NASDAQ 100 ETFtracks the Nasdaq-100 Index
- VGTVanguard Information Technology ETFtracks the MSCI US IMI Information Technology 25/50 Index
- ACWIiShares MSCI ACWI ETFtracks the MSCI ACWI Index
- VTVanguard Total World Stock ETFtracks the FTSE Global All Cap Index
- URTHiShares MSCI World ETFtracks the MSCI World Index
- SCHGSchwab U.S. Large-Cap Growth ETFtracks the Dow Jones U.S. Large-Cap Growth Total Stock Market Index
- SCHDSchwab U.S. Dividend Equity ETFtracks the Dow Jones U.S. Dividend 100 Index
- VTVVanguard Value ETFtracks the CRSP US Large Cap Value Index
- VUGVanguard Growth ETFtracks the CRSP US Large Cap Growth Index
- MTUMiShares MSCI USA Momentum Factor ETFtracks the MSCI USA Momentum SR Variant Index
- SPMOInvesco S&P 500 Momentum ETFtracks the S&P 500 Momentum Index
- SPHQInvesco S&P 500 Quality ETFtracks the S&P 500 Quality Index
MTUM tracks the MSCI USA Momentum SR Variant IndexSPHQ tracks the S&P 500 Quality Index
What did the last 10 years do to $10,000?
You invest $10,000 at the start of the window and touch nothing — dividends reinvested, the running year not counted.
MTUM vs SPHQ, year by year
Calendar-year total returns (dividends included) side by side, and who took the crown each year. A dash means the fund did not exist yet.
| Year | MTUM | SPHQ | Winner |
|---|---|---|---|
| 2026 (so far) | +37.24% | +20.79% | MTUM |
| 2025 | +22.15% | +13.25% | MTUM |
| 2024 | +32.89% | +25.44% | MTUM |
| 2023 | +9.15% | +24.83% | SPHQ |
| 2022 | -18.27% | -15.76% | SPHQ |
| 2021 | +13.36% | +27.59% | SPHQ |
| 2020 | +29.86% | +16.93% | MTUM |
| 2019 | +27.25% | +33.63% | SPHQ |
| 2018 | -1.67% | -7.09% | MTUM |
| 2017 | +37.50% | +19.10% | MTUM |
| 2016 | +5.00% | +14.30% | SPHQ |
| 2015 | +8.91% | +1.64% | MTUM |
| 2014 | +14.62% | +16.08% | SPHQ |
| 2013 | +19.21% | +32.73% | SPHQ |
| 2012 | — | +14.32% | — |
| 2011 | — | +6.28% | — |
| 2010 | — | +20.50% | — |
| 2009 | — | +12.59% | — |
| 2008 | — | -46.35% | — |
| 2007 | — | +16.77% | — |
| 2006 | — | +4.58% | — |
| 2005 | — | -2.05% | — |
MTUM vs SPHQ in plain words
MTUM tracks the MSCI USA Momentum SR Variant Index while SPHQ follows the S&P 500 Quality Index, so they own different slices of the market and their years can look very different. Both funds charge 0.15% a year in running costs.
Both funds distribute: dividends land in your account as cash instead of being reinvested automatically. Across the 14 calendar years both funds were trading, MTUM finished the year ahead 7 times and SPHQ 7 times. $10,000 invested at the start of 2016 was worth $38,506 in MTUM versus $37,666 in SPHQ by the end of 2025, dividends reinvested.
Fund facts: MTUM vs SPHQ
| Fact | MTUM | SPHQ |
|---|---|---|
| Fund | iShares MSCI USA Momentum Factor ETF | Invesco S&P 500 Quality ETF |
| Tracks | MSCI USA Momentum SR Variant Index | S&P 500 Quality Index |
| Yearly cost (TER) | 0.15% | 0.15% |
| Dividends | Distributing — dividends paid out | Distributing — dividends paid out |
| Launched | 16 Apr 2013 | 6 Dec 2005 |
Frequently asked
Is MTUM or SPHQ better?
Across the 14 calendar years both funds were trading, MTUM finished the year ahead 7 times and SPHQ 7 times. $10,000 invested at the start of 2016 was worth $38,506 in MTUM versus $37,666 in SPHQ by the end of 2025, dividends reinvested. Past returns don't promise future ones — but this is what actually happened.
What is the difference between MTUM and SPHQ?
MTUM tracks the MSCI USA Momentum SR Variant Index while SPHQ follows the S&P 500 Quality Index, so they own different slices of the market and their years can look very different. Both funds charge 0.15% a year in running costs. Both funds distribute: dividends land in your account as cash instead of being reinvested automatically.
What would $10,000 in MTUM have become?
$10,000 invested in MTUM at the start of 2016 grew to $38,506 by the end of 2025, with dividends reinvested — an average of 14.4% per year.
Related comparisons
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