FOJCY vs. SPHD

Last updated Jun 24, 2026

FOJCY (Fortum Oyj ADR) is a stock, while SPHD (Invesco S&P 500® High Dividend Low Volatility ETF) is Dividend fund tracking the S&P 500 Low Volatility High Dividend Index. Over the past 10 years, FOJCY returned 13.59%/yr vs 7.55%/yr for SPHD. At a 0.21 correlation, their price movements are largely independent.

Performance

FOJCY vs. SPHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fortum Oyj ADR (FOJCY) 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

The year-to-date returns for both stocks are quite close, with FOJCY having a 8.24% return and SPHD slightly lower at 8.20%. Over the past 10 years, FOJCY has outperformed SPHD with an annualized return of 13.59%, while SPHD has yielded a comparatively lower 7.55% annualized return.

FOJCY

• 1D: 1.11%
• 1M: -7.49%
• YTD: 8.24%
• 6M: 12.76%
• 1Y: 28.71%
• 3Y*: 31.95%
• 5Y*: 2.94%
• 10Y*: 13.59%

SPHD

• 1D: 1.63%
• 1M: 0.82%
• YTD: 8.20%
• 6M: 8.56%
• 1Y: 12.09%
• 3Y*: 12.70%
• 5Y*: 7.06%
• 10Y*: 7.55%

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

FOJCY vs. SPHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FOJCY Fortum Oyj ADR	8.24%	79.68%	2.92%	-5.53%	-44.41%	40.46%	3.42%	29.28%	13.34%	56.58%
SPHD Invesco S&P 500® High Dividend Low Volatility ETF	8.20%	3.41%	18.08%	1.32%	0.58%	24.98%	-9.98%	20.26%	-6.17%	11.90%

Correlation

The correlation between FOJCY and SPHD is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.22
Correlation (10Y) Calculated over the trailing 10-year period	0.19
Correlation (All Time) Calculated using the full available price history since Oct 26, 2012	0.21

Return for Risk

FOJCY vs. SPHD — Risk / Return Rank

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

FOJCY

FOJCY Risk / Return Rank: 65
FOJCY Sharpe Ratio Rank: 63
FOJCY Sortino Ratio Rank: 60
FOJCY Omega Ratio Rank: 57
FOJCY Calmar Ratio Rank: 73
FOJCY Martin Ratio Rank: 72

SPHD

SPHD Risk / Return Rank: 30
SPHD Sharpe Ratio Rank: 30
SPHD Sortino Ratio Rank: 31
SPHD Omega Ratio Rank: 27
SPHD Calmar Ratio Rank: 34
SPHD Martin Ratio Rank: 30

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.

FOJCY vs. SPHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fortum Oyj ADR (FOJCY) 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.

	FOJCY	SPHD	Difference
Sharpe ratio: Return per unit of total volatility	0.64	1.06	-0.42
Sortino ratio: Return per unit of downside risk	1.14	1.61	-0.47
Omega ratio: Gain probability vs. loss probability	1.14	1.18	-0.05
Calmar ratio: Return relative to maximum drawdown	1.77	1.66	+0.11
Martin ratio: Return relative to average drawdown	3.93	4.06	-0.13

FOJCY vs. SPHD - Sharpe Ratio Comparison

The current FOJCY Sharpe Ratio is 0.64, which is lower than the SPHD Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of FOJCY and SPHD, 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

FOJCY vs. SPHD - Drawdown Comparison

The maximum FOJCY drawdown since its inception was -70.67%, which is greater than SPHD's maximum drawdown of -41.39%. Use the drawdown chart below to compare losses from any high point for FOJCY and SPHD.

Drawdown Indicators

	FOJCY	SPHD	Difference
Max Drawdown Largest peak-to-trough decline	-70.67%	-41.39%	-29.28%
Max Drawdown (1Y) Largest decline over 1 year	-16.34%	-7.33%	-9.01%
Max Drawdown (3Y) Largest decline over 3 years	-25.89%	-13.29%	-12.60%
Max Drawdown (5Y) Largest decline over 5 years	-70.67%	-19.50%	-51.17%
Max Drawdown (10Y) Largest decline over 10 years	-70.67%	-41.39%	-29.28%
Current Drawdown Current decline from peak	-13.28%	-1.91%	-11.37%
Average Drawdown Average peak-to-trough decline	-24.98%	-4.69%	-20.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.32%	2.98%	+4.34%

Volatility

FOJCY vs. SPHD - Volatility Comparison

Fortum Oyj ADR (FOJCY) has a higher volatility of 13.98% compared to Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) at 4.26%. This indicates that FOJCY's price experiences larger fluctuations and is considered to be riskier than SPHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FOJCY	SPHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.98%	4.26%	+9.72%
Volatility (6M) Calculated over the trailing 6-month period	34.62%	8.13%	+26.49%
Volatility (1Y) Calculated over the trailing 1-year period	45.33%	11.48%	+33.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.69%	14.16%	+34.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.20%	17.65%	+24.55%

Dividends

FOJCY vs. SPHD - Dividend Comparison

FOJCY's dividend yield for the trailing twelve months is around 3.73%, less than SPHD's 4.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FOJCY Fortum Oyj ADR	3.73%	6.94%	9.39%	6.74%	7.57%	4.22%	7.37%	4.88%	6.47%	11.86%	16.86%	9.06%
SPHD Invesco S&P 500® High Dividend Low Volatility ETF	4.60%	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 FOJCY and SPHD in my portfolio?

FOJCY and SPHD have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FOJCY or SPHD?

FOJCY has higher volatility (13.98%) compared to SPHD (4.26%). In terms of maximum drawdown, FOJCY dropped -70.67% vs SPHD's -41.39%.

Which has better risk-adjusted returns?

SPHD currently has the higher Sharpe Ratio (1.06 vs 0.64), 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.