FDV vs. SPHD

Last updated Jul 14, 2026

FDV (Federated Hermes U.S. Strategic Dividend ETF) and SPHD (Invesco S&P 500® High Dividend Low Volatility ETF) are both exchange-traded funds - FDV is a Large Cap Value Equities fund actively managed by Federated, while SPHD is a Dividend fund tracking the S&P 500 Low Volatility High Dividend Index. FDV is actively managed, while SPHD is passively managed. With a 0.96 correlation, they move nearly in lockstep. FDV charges 0.50%/yr vs 0.30%/yr for SPHD.

Performance

FDV vs. SPHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes U.S. Strategic Dividend ETF (FDV) and Invesco S&P 500® High Dividend Low Volatility ETF (SPHD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FDV

• 1D: 0.78%
• 1M: 0.81%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPHD

• 1D: 0.69%
• 1M: 1.57%
• 6M: 10.25%
• YTD: 11.46%
• 1Y: 12.48%
• 3Y*: 12.24%
• 5Y*: 7.79%
• 10Y*: 7.15%

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

FDV vs. SPHD - Yearly Performance Comparison

	2026 (YTD)
FDV Federated Hermes U.S. Strategic Dividend ETF	3.01%
SPHD Invesco S&P 500® High Dividend Low Volatility ETF	4.43%

Correlation

The correlation between FDV and SPHD is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 22, 2026	0.96

Return for Risk

FDV vs. SPHD — Risk / Return Rank

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

FDV

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

SPHD

SPHD Risk / Return Rank: 37
SPHD Sharpe Ratio Rank: 37
SPHD Sortino Ratio Rank: 38
SPHD Omega Ratio Rank: 33
SPHD Calmar Ratio Rank: 42
SPHD Martin Ratio Rank: 35

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.

FDV vs. SPHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes U.S. Strategic Dividend ETF (FDV) and Invesco S&P 500® High Dividend Low Volatility ETF (SPHD). 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.

	FDV	SPHD	Difference
Sharpe ratio: Return per unit of total volatility	—	1.07	—
Sortino ratio: Return per unit of downside risk	—	1.63	—
Omega ratio: Gain probability vs. loss probability	—	1.18	—
Calmar ratio: Return relative to maximum drawdown	—	1.71	—
Martin ratio: Return relative to average drawdown	—	4.19	—

Drawdowns

FDV vs. SPHD - Drawdown Comparison

The maximum FDV drawdown since its inception was -3.33%, smaller than the maximum SPHD drawdown of -41.39%. Use the drawdown chart below to compare losses from any high point for FDV and SPHD.

Drawdown Indicators

	FDV	SPHD	Difference
Max Drawdown Largest peak-to-trough decline	-3.33%	-41.39%	+38.06%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.33%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-13.29%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.50%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.39%	—
Current Drawdown Current decline from peak	-0.28%	-0.25%	-0.03%
Average Drawdown Average peak-to-trough decline	-1.08%	-4.68%	+3.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.99%	—

Volatility

Volatility by Period

	FDV	SPHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.79%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.69%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.24%	11.72%	+1.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.24%	14.20%	-0.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.24%	17.64%	-4.40%

FDV vs. SPHD - Expense Ratio Comparison

FDV has a 0.50% expense ratio, which is higher than SPHD's 0.30% expense ratio.

Dividends

FDV vs. SPHD - Dividend Comparison

FDV's dividend yield for the trailing twelve months is around 0.57%, less than SPHD's 4.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDV Federated Hermes U.S. Strategic Dividend ETF	0.57%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPHD Invesco S&P 500® High Dividend Low Volatility ETF	4.46%	4.02%	3.41%	4.48%	3.89%	3.45%	4.89%	4.07%	4.40%	3.14%	3.83%	3.49%

Frequently Asked Questions

Can I hold both FDV and SPHD in my portfolio?

With a correlation of 0.96, FDV and SPHD move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, FDV or SPHD?

On fees, SPHD is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FDV or SPHD?

SPHD is cheaper with a 0.30% expense ratio, compared with 0.50% for FDV.

Which ETF pays a higher dividend yield, FDV or SPHD?

SPHD has the higher dividend yield at 4.46%, compared with 0.57% for FDV.

What is the main difference between FDV and SPHD?

FDV is categorized as Large Cap Value Equities, while SPHD is Dividend. They also come from different issuers: Federated and Invesco. Their fees differ too: 0.50% for FDV and 0.30% for SPHD.