HUSV vs. SPLV
HUSV (First Trust Horizon Managed Volatility Domestic ETF) and SPLV (Invesco S&P 500 Low Volatility ETF) are both exchange-traded funds - HUSV is a Volatility Hedged Equity fund actively managed by First Trust, while SPLV is a S&P 500 fund tracking the S&P 500 Low Volatility Index. HUSV is actively managed, while SPLV is passively managed. Over the past 5 years, HUSV returned 5.79%/yr vs 6.37%/yr for SPLV. Their correlation of 0.92 suggests significant overlap in exposure. HUSV charges 0.70%/yr vs 0.25%/yr for SPLV.
Performance
HUSV vs. SPLV - Performance Comparison
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Returns By Period
In the year-to-date period, HUSV achieves a 0.83% return, which is significantly lower than SPLV's 5.06% return.
HUSV
- 1D
- 0.94%
- 1M
- -2.53%
- YTD
- 0.83%
- 6M
- 0.32%
- 1Y
- -0.99%
- 3Y*
- 7.78%
- 5Y*
- 5.79%
- 10Y*
- —
SPLV
- 1D
- 1.32%
- 1M
- 0.35%
- YTD
- 5.06%
- 6M
- 4.84%
- 1Y
- 4.45%
- 3Y*
- 8.50%
- 5Y*
- 6.37%
- 10Y*
- 8.38%
HUSV vs. SPLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HUSV First Trust Horizon Managed Volatility Domestic ETF | 0.83% | 4.96% | 12.64% | 3.51% | -6.31% | 26.04% | 5.39% | 26.98% | -1.92% | 16.07% |
SPLV Invesco S&P 500 Low Volatility ETF | 5.06% | 4.10% | 13.93% | 0.53% | -4.88% | 24.13% | -1.39% | 27.87% | -0.19% | 17.32% |
Correlation
The correlation between HUSV and SPLV is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Aug 25, 2016 | 0.92 |
The correlation between HUSV and SPLV has been stable across timeframes, ranging from 0.88 to 0.94 - a consistent structural relationship.
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Return for Risk
HUSV vs. SPLV — Risk / Return Rank
HUSV
SPLV
HUSV vs. SPLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Horizon Managed Volatility Domestic ETF (HUSV) and Invesco S&P 500 Low Volatility ETF (SPLV). 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.
| HUSV | SPLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.55 | ||
| Sortino ratioReturn per unit of downside risk | -0.77 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.08 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.15 | 0.60 | -0.75 |
| Martin ratioReturn relative to average drawdown | -0.34 | 1.39 | -1.73 |
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Drawdowns
HUSV vs. SPLV - Drawdown Comparison
The maximum HUSV drawdown since its inception was -35.72%, roughly equal to the maximum SPLV drawdown of -36.26%. Use the drawdown chart below to compare losses from any high point for HUSV and SPLV.
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Drawdown Indicators
| HUSV | SPLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.72% | -36.26% | +0.54% |
Max Drawdown (1Y)Largest decline over 1 year | -6.78% | -7.41% | +0.63% |
Max Drawdown (3Y)Largest decline over 3 years | -9.35% | -9.64% | +0.29% |
Max Drawdown (5Y)Largest decline over 5 years | -17.00% | -17.26% | +0.26% |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.26% | — |
Current DrawdownCurrent decline from peak | -3.98% | -3.47% | -0.51% |
Average DrawdownAverage peak-to-trough decline | -3.61% | -3.55% | -0.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.90% | 3.20% | -0.30% |
Volatility
HUSV vs. SPLV - Volatility Comparison
The current volatility for First Trust Horizon Managed Volatility Domestic ETF (HUSV) is 3.08%, while Invesco S&P 500 Low Volatility ETF (SPLV) has a volatility of 4.26%. This indicates that HUSV experiences smaller price fluctuations and is considered to be less risky than SPLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HUSV | SPLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.08% | 4.26% | -1.18% |
Volatility (6M)Calculated over the trailing 6-month period | 6.63% | 7.38% | -0.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.31% | 10.28% | -0.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.03% | 12.50% | -0.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.47% | 15.39% | -0.92% |
HUSV vs. SPLV - Expense Ratio Comparison
HUSV has a 0.70% expense ratio, which is higher than SPLV's 0.25% expense ratio.
Dividends
HUSV vs. SPLV - Dividend Comparison
HUSV's dividend yield for the trailing twelve months is around 1.38%, less than SPLV's 2.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HUSV First Trust Horizon Managed Volatility Domestic ETF | 1.38% | 1.38% | 1.14% | 1.80% | 1.68% | 1.35% | 1.29% | 1.36% | 1.48% | 1.31% | 0.35% | 0.00% |
SPLV Invesco S&P 500 Low Volatility ETF | 2.16% | 2.04% | 1.88% | 2.45% | 2.11% | 1.51% | 2.12% | 2.08% | 2.18% | 2.03% | 2.03% | 2.28% |
Frequently Asked Questions
HUSV and SPLV have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPLV has higher volatility (4.26%) compared to HUSV (3.08%). In terms of maximum drawdown, HUSV dropped -35.72% vs SPLV's -36.26%.
On 5-year performance, SPLV leads with 6.37% vs 5.79% for HUSV. On fees, SPLV is cheaper at 0.25% per year. On volatility, HUSV has been the lower-risk option at 3.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SPLV has performed better with a 6.37% return vs 5.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPLV is cheaper with a 0.25% expense ratio, compared with 0.70% for HUSV.
SPLV has the higher dividend yield at 2.16%, compared with 1.38% for HUSV.
HUSV is categorized as Volatility Hedged Equity, while SPLV is S&P 500. They also come from different issuers: First Trust and Invesco. Their fees differ too: 0.70% for HUSV and 0.25% for SPLV.
SPLV currently has the higher Sharpe Ratio (0.44 vs -0.11), 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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