DEF vs. SPHQ
Compare and contrast key facts about Invesco Defensive Equity ETF (DEF) and Invesco S&P 500 Quality ETF (SPHQ).
DEF and SPHQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DEF is a passively managed fund by Invesco that tracks the performance of the Invesco Defensive Equity Index. It was launched on Dec 15, 2006. SPHQ is a passively managed fund by Invesco that tracks the performance of the S&P 500 Quality Index. It was launched on Dec 6, 2005. Both DEF and SPHQ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
DEF vs. SPHQ - Performance Comparison
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DEF vs. SPHQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DEF Invesco Defensive Equity ETF | -4.22% | 11.71% | 13.18% | 10.58% | -7.67% | 24.93% | 7.61% | 27.98% | -3.96% | 21.52% |
SPHQ Invesco S&P 500 Quality ETF | 0.57% | 13.25% | 25.44% | 24.83% | -15.76% | 28.03% | 17.36% | 33.64% | -7.10% | 19.10% |
Returns By Period
In the year-to-date period, DEF achieves a -4.22% return, which is significantly lower than SPHQ's 0.57% return. Over the past 10 years, DEF has underperformed SPHQ with an annualized return of 10.28%, while SPHQ has yielded a comparatively higher 13.53% annualized return.
DEF
- 1D
- 1.63%
- 1M
- -7.55%
- YTD
- -4.22%
- 6M
- -3.94%
- 1Y
- 5.85%
- 3Y*
- 9.79%
- 5Y*
- 8.23%
- 10Y*
- 10.28%
SPHQ
- 1D
- 2.36%
- 1M
- -6.75%
- YTD
- 0.57%
- 6M
- 3.29%
- 1Y
- 14.73%
- 3Y*
- 18.19%
- 5Y*
- 12.50%
- 10Y*
- 13.53%
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DEF vs. SPHQ - Expense Ratio Comparison
DEF has a 0.53% expense ratio, which is higher than SPHQ's 0.15% expense ratio.
Return for Risk
DEF vs. SPHQ — Risk / Return Rank
DEF
SPHQ
DEF vs. SPHQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Defensive Equity ETF (DEF) 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.
| DEF | SPHQ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.39 | 0.86 | -0.48 |
Sortino ratioReturn per unit of downside risk | 0.67 | 1.34 | -0.67 |
Omega ratioGain probability vs. loss probability | 1.09 | 1.18 | -0.10 |
Calmar ratioReturn relative to maximum drawdown | 0.64 | 1.46 | -0.82 |
Martin ratioReturn relative to average drawdown | 2.57 | 6.45 | -3.88 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DEF | SPHQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.39 | 0.86 | -0.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | 0.77 | -0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.64 | 0.76 | -0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.50 | +0.04 |
Correlation
The correlation between DEF and SPHQ is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
DEF vs. SPHQ - Dividend Comparison
DEF's dividend yield for the trailing twelve months is around 0.98%, less than SPHQ's 1.19% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DEF Invesco Defensive Equity ETF | 0.98% | 0.94% | 0.79% | 1.60% | 1.48% | 1.06% | 1.34% | 1.16% | 1.39% | 1.63% | 2.18% | 3.31% |
SPHQ Invesco S&P 500 Quality ETF | 1.19% | 1.09% | 1.15% | 1.42% | 1.85% | 1.19% | 1.55% | 1.51% | 1.85% | 1.57% | 1.67% | 2.29% |
Drawdowns
DEF vs. SPHQ - Drawdown Comparison
The maximum DEF drawdown since its inception was -47.91%, smaller than the maximum SPHQ drawdown of -57.83%. Use the drawdown chart below to compare losses from any high point for DEF and SPHQ.
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Drawdown Indicators
| DEF | SPHQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.91% | -57.83% | +9.92% |
Max Drawdown (1Y)Largest decline over 1 year | -10.77% | -10.84% | +0.07% |
Max Drawdown (5Y)Largest decline over 5 years | -17.75% | -25.04% | +7.29% |
Max Drawdown (10Y)Largest decline over 10 years | -36.53% | -31.60% | -4.93% |
Current DrawdownCurrent decline from peak | -8.29% | -6.75% | -1.54% |
Average DrawdownAverage peak-to-trough decline | -6.23% | -10.78% | +4.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.70% | 2.45% | +0.25% |
Volatility
DEF vs. SPHQ - Volatility Comparison
The current volatility for Invesco Defensive Equity ETF (DEF) is 4.03%, while Invesco S&P 500 Quality ETF (SPHQ) has a volatility of 5.40%. This indicates that DEF 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.
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Volatility by Period
| DEF | SPHQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.03% | 5.40% | -1.37% |
Volatility (6M)Calculated over the trailing 6-month period | 8.77% | 9.64% | -0.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.26% | 17.13% | -1.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.84% | 16.40% | -2.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.01% | 17.81% | -1.80% |