FDV vs. SPHD
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. Over the past 3 years, FDV returned 14.78%/yr vs 12.10%/yr for SPHD. Their correlation of 0.90 suggests significant overlap in exposure. FDV charges 0.50%/yr vs 0.30%/yr for SPHD.
Performance
FDV vs. SPHD - Performance Comparison
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Returns By Period
In the year-to-date period, FDV achieves a 11.72% return, which is significantly higher than SPHD's 6.47% return.
FDV
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 11.72%
- 6M
- 11.13%
- 1Y
- 19.49%
- 3Y*
- 14.78%
- 5Y*
- —
- 10Y*
- —
SPHD
- 1D
- 0.20%
- 1M
- -0.79%
- YTD
- 6.47%
- 6M
- 6.49%
- 1Y
- 11.21%
- 3Y*
- 12.10%
- 5Y*
- 6.82%
- 10Y*
- 7.38%
FDV vs. SPHD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FDV Federated Hermes U.S. Strategic Dividend ETF | 11.72% | 11.01% | 14.41% | -2.16% | 1.35% |
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 6.47% | 3.41% | 18.08% | 1.32% | -0.50% |
Correlation
The correlation between FDV and SPHD is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2022 | 0.90 |
The correlation between FDV and SPHD has been stable across timeframes, ranging from 0.82 to 0.90 - a consistent structural relationship.
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Return for Risk
FDV vs. SPHD — Risk / Return Rank
FDV
SPHD
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 ratioReturn per unit of total volatility | +1.02 | ||
| Sortino ratioReturn per unit of downside risk | +1.52 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.17 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 3.78 | 1.54 | +2.25 |
| Martin ratioReturn relative to average drawdown | 12.05 | 3.77 | +8.28 |
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Drawdowns
FDV vs. SPHD - Drawdown Comparison
The maximum FDV drawdown since its inception was -16.70%, 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.
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Drawdown Indicators
| FDV | SPHD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.70% | -41.39% | +24.69% |
Max Drawdown (1Y)Largest decline over 1 year | -5.70% | -7.33% | +1.63% |
Max Drawdown (3Y)Largest decline over 3 years | -12.55% | -13.29% | +0.74% |
Max Drawdown (5Y)Largest decline over 5 years | — | -19.50% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.39% | — |
Current DrawdownCurrent decline from peak | -0.39% | -3.48% | +3.09% |
Average DrawdownAverage peak-to-trough decline | -3.92% | -4.69% | +0.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.79% | 2.98% | -1.19% |
Volatility
FDV vs. SPHD - Volatility Comparison
The current volatility for Federated Hermes U.S. Strategic Dividend ETF (FDV) is 2.82%, while Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) has a volatility of 3.95%. This indicates that FDV experiences smaller price fluctuations and is considered to be less risky than SPHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FDV | SPHD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.82% | 3.95% | -1.13% |
Volatility (6M)Calculated over the trailing 6-month period | 6.82% | 7.99% | -1.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.74% | 11.39% | -0.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.65% | 14.14% | -1.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.65% | 17.67% | -5.02% |
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 2.56%, less than SPHD's 4.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDV Federated Hermes U.S. Strategic Dividend ETF | 2.56% | 3.11% | 3.12% | 3.54% | 0.18% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 4.97% | 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
FDV and SPHD have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPHD has higher volatility (3.95%) compared to FDV (2.82%). In terms of maximum drawdown, FDV dropped -16.70% vs SPHD's -41.39%.
On 3-year performance, FDV leads with 14.78% vs 12.10% for SPHD. On fees, SPHD is cheaper at 0.30% per year. On volatility, FDV has been the lower-risk option at 2.82%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, FDV has performed better with a 14.78% return vs 12.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPHD is cheaper with a 0.30% expense ratio, compared with 0.50% for FDV.
SPHD has the higher dividend yield at 4.97%, compared with 2.56% for FDV.
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.
FDV currently has the higher Sharpe Ratio (2.01 vs 0.99), 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.
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