<ul>
<li>一只 ETF 今年表现突出，收益显著。</li>
<li>这只 ETF 经历了与标普 500 相似的下跌，但提供了显著更高的收益。</li>
<li>而且它未来可能会继续这样表现。</li>
<li>你在退休方面是领先还是落后？SmartAsset 的免费工具可以在几分钟内将你与财务顾问匹配，帮助你今天解决这个问题。每位顾问都经过严格筛选，必须以你的最佳利益为重。不要再浪费时间；在这里了解更多。(赞助商)</li>
</ul>
<p>大多数购买 <strong>Vanguard S&amp;P 500 ETF (NYSEARCA:VOO)</strong> 的投资者认为他们已经拥有市场的甜蜜点。毕竟，VOO 已成为任何希望以几乎为零的费用投资美国最大公司的默认选择。截至目前，VOO 年初至今上涨了 8.71%。这是一个稳健的回报。</p>
<p>一只名气远不如 VOO 的 ETF 年初至今的收益达到了 20.14%（比 VOO 高出约 130%）。这甚至超过了 QQQ 的 10.4% 回报。<strong>Invesco S&amp;P 500 Momentum ETF (NYSEARCA:SPMO)</strong> 就是这只 ETF。它仍然投资于标普 500，但该指数重新加权，并将额外资金投入到价格动量最强的股票中，剔除表现不佳的股票。</p>
<p>这导致其近期表现极为强劲，回撤与标普 500 相同甚至更好。SPMO 的主要持股现在看起来像是今年市场宠儿的名单，而该基金的再平衡使其在高位买入并在更高位卖出。</p>
<p><img src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2025/01/Follow-Our-500000-AI-Portfolio-3.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2025/01/Follow-Our-500000-AI-Portfolio-3.jpg"/></p>
<p>你可能因为忽视它而错失了超额收益。</p>
<h2>SPMO 如何超越标普 500</h2>
<p>该 ETF 跟踪标普 500 动量指数。该指数使用复杂的方法论，查看过去一年的价格历史，然后排除最近一个月的数据，以防止追逐非常短期的价格波动。这样，它可以利用持续的动量。</p>
<p>此外，它每年仅在 3 月和 9 月的第三个星期五进行两次再平衡。这为趋势发展提供了时间，同时避免了频繁交易的交易成本。</p>
<p>在背景中还有更多的数学运算，这超出了本文的范围，但这种方法论效果显著。关于这一点，让我们看看它的表现。</p>
<h2>SPMO 并非单一策略</h2>
<p>正如我之前提到的，这里的回撤与标普 500 相当，尽管它提供了更多的回报。这是因为 SPMO 并不单纯追逐成长股，并且具有多样化。它的多样化程度接近最佳，因为多样化的好处在超过 30-40 只股票后会逐渐减小。SPMO 持有 100 只股票，而 VOO 持有 507 只。</p>
<p>以下是其主要持股。</p>
<p>现在，让我们看看 SPMO 在之前的下跌中与 VOO 的表现对比。</p>
<p><img src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2025/08/SPMOvsVOO-scaled.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2025/08/SPMOvsVOO-scaled.jpg"/></p>
<p>在过去的每次重大下跌中，SPMO 都设法领先于 VOO。在今年春季的调整中，SPMO 的下跌幅度更大，仅超过 1%。但它随后所带来的收益完全弥补了这一点。</p>
<p>但这是否意味着你应该立即从 VOO 切换到 SPMO？绝对不是。</p>
<h2>追逐动量的成本</h2>
<p>最明显的警告是，SPMO 的费用比率为 0.13%，即每$10,000 支付$13，而 VOO 的费用为 0.03%，即每$10,000 仅支付$3。这看起来微不足道。但假设在$100,000 的投资中，你每年支付$130 给 SPMO，而只需支付$30 给 VOO。在 20 年内，假设年回报率为 7%，仅这笔费用差异就会让你损失约$7,131。</p>
<p>VOO 的股息收益率也更高，为 1.19%，而 SPMO 为 0.57%。你再次错失了更多的复利股息收入。而且与 VOO 不同，SPMO 的历史相对较短。它于 2015 年推出，因此在真正的经济衰退环境中仍未经过考验。如果 AI 反弹在其再平衡后突然逆转，你将不得不等六个月才能退出 SPMO。但再次强调，你必须非常不幸，事情才会以这种方式发展。</p>
<h2>你应该购买 SPMO 吗？</h2>
<p>我愿意忽视这些警告，以换取你所获得的表现。SPMO 在下行周期中的表现大致与 VOO 相当或略低，正如过去所表现的那样。但在牛市中，动量的关注将使其大幅超越。</p>
<p>SPMO 为那些有长期投资视野和高风险承受能力的投资者提供了最强的理由，他们希望系统性地接触动量这一因素。如果你认为 AI 反弹将持续，科技将继续引领经济，那么作为卫星持仓购买是值得的。</p>
<p>本文的标题为《1 只秘密 ETF 年初至今超越 VOO 130%》，首次发布于 24/7 Wall St..</p>

标普 500 ETF - Vanguard

景顺投资管理

<p>景顺投资管理的标普 500 动量 ETF (SPMO) 今年迄今的表现超过了先锋标普 500 ETF (VOO) 130%，实现了 20.14% 的收益，而 VOO 的收益为 8.71%。SPMO 投资于具有强劲价格动量的标普 500 股票，每年重新平衡两次。尽管其费用比率为 0.13%，高于 VOO 的 0.03%，但 SPMO 的表现和多样化可能吸引投资者，尽管自 2015 年推出以来，其历史业绩较短。投资者在从 VOO 切换到 SPMO 之前，应权衡潜在收益与成本和风险</p>

<ul>
<li>One ETF has been a clear winner this year, with stellar gains.</li>
<li>This ETF has had similar downturns to the S&amp;P 500, while delivering significantly higher gains.</li>
<li>And it may keep doing so in the future.</li>
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</ul>
<div class="lb-trans"><ul>
<li>一只 ETF 今年表现突出，收益显著。</li>
<li>这只 ETF 经历了与标普 500 相似的下跌，但提供了显著更高的收益。</li>
<li>而且它未来可能会继续这样表现。</li>
<li>你在退休方面是领先还是落后？SmartAsset 的免费工具可以在几分钟内将你与财务顾问匹配，帮助你今天解决这个问题。每位顾问都经过严格筛选，必须以你的最佳利益为重。不要再浪费时间；在这里了解更多。(赞助商)</li>
</ul>
</div><p>Most investors who buy the <strong>Vanguard S&amp;P 500 ETF (NYSEARCA:VOO)</strong> assume they already own the market’s sweet spot. After all, VOO has become the default choice for anyone who wants the biggest U.S. companies at a fee so low it essentially rounds to zero. VOO is up 8.71% year-to-date as of this writing. That’s a solid return.</p>
<div class="lb-trans"><p>大多数购买 <strong>Vanguard S&amp;P 500 ETF (NYSEARCA:VOO)</strong> 的投资者认为他们已经拥有市场的甜蜜点。毕竟，VOO 已成为任何希望以几乎为零的费用投资美国最大公司的默认选择。截至目前，VOO 年初至今上涨了 8.71%。这是一个稳健的回报。</p>
</div><p>A far less famous ETF has delivered 20.14% in gains year-to-date (~130% better than the VOO). This is even better than the 10.4% that the QQQ returned. The <strong>Invesco S&amp;P 500 Momentum ETF (NYSEARCA:SPMO)</strong> is the ETF in question. It still invests inside the S&amp;P 500, but the index re-weights and puts extra money into the names with the strongest price momentum, cutting loose the laggards.</p>
<div class="lb-trans"><p>一只名气远不如 VOO 的 ETF 年初至今的收益达到了 20.14%（比 VOO 高出约 130%）。这甚至超过了 QQQ 的 10.4% 回报。<strong>Invesco S&amp;P 500 Momentum ETF (NYSEARCA:SPMO)</strong> 就是这只 ETF。它仍然投资于标普 500，但该指数重新加权，并将额外资金投入到价格动量最强的股票中，剔除表现不佳的股票。</p>
</div><p>This has resulted in unbelievably strong performance recently, with drawdowns that are identical or even better than the S&amp;P 500. SPMO’s top holdings now read like a who’s who of this year’s market darlings, and the fund’s rebalancing has caused it to buy high and sell higher.</p>
<div class="lb-trans"><p>这导致其近期表现极为强劲，回撤与标普 500 相同甚至更好。SPMO 的主要持股现在看起来像是今年市场宠儿的名单，而该基金的再平衡使其在高位买入并在更高位卖出。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2025/01/Follow-Our-500000-AI-Portfolio-3.jpg" alt="" original-src="https://247wallst.com/wp-content/uploads/2025/01/Follow-Our-500000-AI-Portfolio-3.jpg"/></p>
<p>You may be leaving alpha on the table by ignoring it.</p>
<div class="lb-trans"><p>你可能因为忽视它而错失了超额收益。</p>
</div><h2>How SPMO outperforms the S&amp;P 500</h2>
<div class="lb-trans"><h2>SPMO 如何超越标普 500</h2>
</div><p>The ETF tracks the S&amp;P 500 Momentum Index. The index uses sophisticated methodology, as it looks at the past year of price history and then excludes the most recent month to prevent it from chasing very short-term spikes. In turn, this lets it ride sustained momentum.</p>
<div class="lb-trans"><p>该 ETF 跟踪标普 500 动量指数。该指数使用复杂的方法论，查看过去一年的价格历史，然后排除最近一个月的数据，以防止追逐非常短期的价格波动。这样，它可以利用持续的动量。</p>
</div><p>Plus, it rebalances just twice per year on the third Fridays of March and September. This gives trends time to develop while avoiding the transaction costs of constant trading.</p>
<div class="lb-trans"><p>此外，它每年仅在 3 月和 9 月的第三个星期五进行两次再平衡。这为趋势发展提供了时间，同时避免了频繁交易的交易成本。</p>
</div><p>There’s a lot more math going on in the background that would take us out of the scope of this article, but the methodology has worked wonderfully. On that note, let’s take a look at how it has performed.</p>
<div class="lb-trans"><p>在背景中还有更多的数学运算，这超出了本文的范围，但这种方法论效果显著。关于这一点，让我们看看它的表现。</p>
</div><h2>SPMO is not a one-trick pony</h2>
<div class="lb-trans"><h2>SPMO 并非单一策略</h2>
</div><p>As I mentioned previously, the drawdowns here are quite comparable to the S&amp;P 500, even though it has delivered more returns. That’s because SPMO doesn’t exclusively chase growth stocks and comes with diversification. The kind of diversification it has is closer to optimal, since the benefits of diversification keep diminishing past 30-40 stocks. SPMO holds 100 vs. the VOO’s 507.</p>
<div class="lb-trans"><p>正如我之前提到的，这里的回撤与标普 500 相当，尽管它提供了更多的回报。这是因为 SPMO 并不单纯追逐成长股，并且具有多样化。它的多样化程度接近最佳，因为多样化的好处在超过 30-40 只股票后会逐渐减小。SPMO 持有 100 只股票，而 VOO 持有 507 只。</p>
</div><p>Here are its top holdings.</p>
<div class="lb-trans"><p>以下是其主要持股。</p>
</div><p>Now, let’s look at some examples of how SPMO has done vs. VOO during previous downturns.</p>
<div class="lb-trans"><p>现在，让我们看看 SPMO 在之前的下跌中与 VOO 的表现对比。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2025/08/SPMOvsVOO-scaled.jpg" alt="" original-src="https://247wallst.com/wp-content/uploads/2025/08/SPMOvsVOO-scaled.jpg"/></p>
<p>In each major downturn in the past, SPMO has managed to stay ahead of VOO. In the spring correction this year, SPMO declined more, and it was only by a bit over 1%. The gains it has since delivered more than make up for it.</p>
<div class="lb-trans"><p>在过去的每次重大下跌中，SPMO 都设法领先于 VOO。在今年春季的调整中，SPMO 的下跌幅度更大，仅超过 1%。但它随后所带来的收益完全弥补了这一点。</p>
</div><p>But does this mean you should switch over from VOO to SPMO immediately? Not at all.</p>
<div class="lb-trans"><p>但这是否意味着你应该立即从 VOO 切换到 SPMO？绝对不是。</p>
</div><h2>The cost of chasing momentum</h2>
<div class="lb-trans"><h2>追逐动量的成本</h2>
</div><p>The most visible caveat is that SPMO has an expense ratio of 0.13%, or $13 per $10,000, vs. VOO’s 0.03% fee, or just $3 per $10,000. That might look trivial. But let’s assume that on a $100,000 investment, you pay $130 annually to SPMO versus just $30 to VOO. Over 20 years, assuming 7% annual returns, this fee difference alone costs you approximately $7,131.</p>
<div class="lb-trans"><p>最明显的警告是，SPMO 的费用比率为 0.13%，即每$10,000 支付$13，而 VOO 的费用为 0.03%，即每$10,000 仅支付$3。这看起来微不足道。但假设在$100,000 的投资中，你每年支付$130 给 SPMO，而只需支付$30 给 VOO。在 20 年内，假设年回报率为 7%，仅这笔费用差异就会让你损失约$7,131。</p>
</div><p>VOO also gives you a higher dividend yield at 1.19% vs. SPMO’s 0.57%. You again lose out on more compounded dividend income. And unlike VOO, SPMO has a relatively short history. It was launched in 2015, so it is still untested in a true recessionary environment. If the AI rally were to reverse suddenly shortly after its rebalancing, you’d have to wait for six more months until SPMO exits. But again, you’d have to be very unlucky for things to unfold in that manner.</p>
<div class="lb-trans"><p>VOO 的股息收益率也更高，为 1.19%，而 SPMO 为 0.57%。你再次错失了更多的复利股息收入。而且与 VOO 不同，SPMO 的历史相对较短。它于 2015 年推出，因此在真正的经济衰退环境中仍未经过考验。如果 AI 反弹在其再平衡后突然逆转，你将不得不等六个月才能退出 SPMO。但再次强调，你必须非常不幸，事情才会以这种方式发展。</p>
</div><h2>Should you buy SPMO?</h2>
<div class="lb-trans"><h2>你应该购买 SPMO 吗？</h2>
</div><p>I’d be willing to look over those caveats in return for the performance you are getting. SPMO should roughly match or slightly underperform the VOO in down cycles, as it has done in the past. But in bull markets, the momentum focus will allow it to outperform greatly.</p>
<div class="lb-trans"><p>我愿意忽视这些警告，以换取你所获得的表现。SPMO 在下行周期中的表现大致与 VOO 相当或略低，正如过去所表现的那样。但在牛市中，动量的关注将使其大幅超越。</p>
</div><p>SPMO makes the strongest case for investors with long-term horizons and high risk tolerance who want systematic exposure to momentum as a factor. If you think the AI rally is here to stay and tech will continue spearheading the economy, it’s worth buying as a satellite holding.</p>
<div class="lb-trans"><p>SPMO 为那些有长期投资视野和高风险承受能力的投资者提供了最强的理由，他们希望系统性地接触动量这一因素。如果你认为 AI 反弹将持续，科技将继续引领经济，那么作为卫星持仓购买是值得的。</p>
</div><p>The post 1 Secret ETF That Outperformed the VOO by 130% Year-To-Date appeared first on 24/7 Wall St..</p>
<div class="lb-trans"><p>本文的标题为《1 只秘密 ETF 年初至今超越 VOO 130%》，首次发布于 24/7 Wall St..</p>
</div>

一只神秘的 ETF 在今年迄今为止的表现超过了 VOO 130%