AVNS vs. SPHQ

Last updated Jul 17, 2026

AVNS (Avanos Medical, Inc.) is a stock, while SPHQ (Invesco S&P 500 Quality ETF) is S&P 500 fund tracking the S&P 500 Quality Index. Over the past 10 years, AVNS returned -2.99%/yr vs 14.56%/yr for SPHQ. At a 0.44 correlation, their price movements are largely independent.

Performance

AVNS vs. SPHQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avanos Medical, Inc. (AVNS) and Invesco S&P 500 Quality ETF (SPHQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVNS achieves a 122.26% return, which is significantly higher than SPHQ's 14.73% return. Over the past 10 years, AVNS has underperformed SPHQ with an annualized return of -2.99%, while SPHQ has yielded a comparatively higher 14.56% annualized return.

AVNS

• 1D: -0.04%
• 1M: 0.00%
• 6M: 102.27%
• YTD: 122.26%
• 1Y: 117.80%
• 3Y*: -0.28%
• 5Y*: -6.30%
• 10Y*: -2.99%

SPHQ

• 1D: -0.60%
• 1M: -3.26%
• 6M: 11.00%
• YTD: 14.73%
• 1Y: 22.00%
• 3Y*: 20.14%
• 5Y*: 13.32%
• 10Y*: 14.56%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AVNS vs. SPHQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AVNS Avanos Medical, Inc.	122.26%	-29.46%	-29.02%	-17.11%	-21.95%	-24.43%	36.14%	-24.76%	-3.01%	24.88%
SPHQ Invesco S&P 500 Quality ETF	14.73%	13.25%	25.44%	24.83%	-15.76%	28.03%	17.36%	33.64%	-7.10%	19.10%

Correlation

The correlation between AVNS and SPHQ is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (10Y) Calculated over the trailing 10-year period	0.44
Correlation (All Time) Calculated using the full available price history since Oct 21, 2014	0.44

The correlation between AVNS and SPHQ shifts across timeframes, from 0.26 (1 year) to 0.44 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

AVNS vs. SPHQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AVNS

AVNS Risk / Return Rank: 94
AVNS Sharpe Ratio Rank: 85
AVNS Sortino Ratio Rank: 97
AVNS Omega Ratio Rank: 98
AVNS Calmar Ratio Rank: 97
AVNS Martin Ratio Rank: 96

SPHQ

SPHQ Risk / Return Rank: 60
SPHQ Sharpe Ratio Rank: 57
SPHQ Sortino Ratio Rank: 58
SPHQ Omega Ratio Rank: 53
SPHQ Calmar Ratio Rank: 62
SPHQ Martin Ratio Rank: 69

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AVNS vs. SPHQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avanos Medical, Inc. (AVNS) and Invesco S&P 500 Quality ETF (SPHQ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AVNS	SPHQ	Difference
Sharpe ratio: Return per unit of total volatility	1.53	1.55	-0.02
Sortino ratio: Return per unit of downside risk	4.12	2.23	+1.89
Omega ratio: Gain probability vs. loss probability	1.63	1.27	+0.36
Calmar ratio: Return relative to maximum drawdown	6.46	2.48	+3.98
Martin ratio: Return relative to average drawdown	15.75	10.05	+5.69

AVNS vs. SPHQ - Sharpe Ratio Comparison

The current AVNS Sharpe Ratio is 1.53, which is comparable to the SPHQ Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of AVNS and SPHQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AVNS vs. SPHQ - Drawdown Comparison

The maximum AVNS drawdown since its inception was -86.39%, which is greater than SPHQ's maximum drawdown of -57.83%. Use the drawdown chart below to compare losses from any high point for AVNS and SPHQ.

Drawdown Indicators

	AVNS	SPHQ	Difference
Max Drawdown Largest peak-to-trough decline	-86.39%	-57.83%	-28.56%
Max Drawdown (1Y) Largest decline over 1 year	-18.33%	-8.90%	-9.43%
Max Drawdown (3Y) Largest decline over 3 years	-62.41%	-16.57%	-45.84%
Max Drawdown (5Y) Largest decline over 5 years	-74.31%	-25.04%	-49.27%
Max Drawdown (10Y) Largest decline over 10 years	-86.39%	-31.60%	-54.79%
Current Drawdown Current decline from peak	-65.64%	-5.02%	-60.62%
Average Drawdown Average peak-to-trough decline	-47.21%	-10.65%	-36.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.51%	2.19%	+5.32%

Volatility

AVNS vs. SPHQ - Volatility Comparison

The current volatility for Avanos Medical, Inc. (AVNS) is 1.75%, while Invesco S&P 500 Quality ETF (SPHQ) has a volatility of 6.27%. This indicates that AVNS experiences smaller price fluctuations and is considered to be less risky than SPHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVNS	SPHQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.75%	6.27%	-4.52%
Volatility (6M) Calculated over the trailing 6-month period	56.10%	12.17%	+43.93%
Volatility (1Y) Calculated over the trailing 1-year period	77.23%	14.22%	+63.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.89%	16.72%	+31.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.53%	17.94%	+26.59%

Dividends

AVNS vs. SPHQ - Dividend Comparison

AVNS has not paid dividends to shareholders, while SPHQ's dividend yield for the trailing twelve months is around 1.09%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVNS Avanos Medical, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPHQ Invesco S&P 500 Quality ETF	1.09%	1.09%	1.15%	1.42%	1.85%	1.19%	1.55%	1.51%	1.85%	1.57%	1.67%	2.29%

Frequently Asked Questions

Can I hold both AVNS and SPHQ in my portfolio?

AVNS and SPHQ have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVNS or SPHQ?

SPHQ has higher volatility (6.27%) compared to AVNS (1.75%). In terms of maximum drawdown, AVNS dropped -86.39% vs SPHQ's -57.83%.

Which has better risk-adjusted returns?

SPHQ currently has the higher Sharpe Ratio (1.55 vs 1.53), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.