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IDHQ vs. SPY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IDHQ vs. SPY

Last updated Jun 3, 2026

IDHQ (Invesco S&P International Developed High Quality ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - IDHQ is a Foreign Large Cap Equities fund tracking the IDHQ-US - S&P Quality Developed Ex-U.S. LargeMidCap Index, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, IDHQ returned 9.97%/yr vs 15.57%/yr for SPY. A 0.68 correlation means they provide meaningful diversification when combined. IDHQ charges 0.29%/yr vs 0.09%/yr for SPY.

Performance

IDHQ vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P International Developed High Quality ETF (IDHQ) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IDHQ achieves a 19.28% return, which is significantly higher than SPY's 11.69% return. Over the past 10 years, IDHQ has underperformed SPY with an annualized return of 9.97%, while SPY has yielded a comparatively higher 15.57% annualized return.

IDHQ

1D
0.17%
1M
7.32%
YTD
19.28%
6M
22.10%
1Y
30.57%
3Y*
18.75%
5Y*
9.02%
10Y*
9.97%

SPY

1D
0.14%
1M
5.40%
YTD
11.69%
6M
12.09%
1Y
29.62%
3Y*
22.64%
5Y*
14.20%
10Y*
15.57%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IDHQ vs. SPY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IDHQ
Invesco S&P International Developed High Quality ETF		19.28%27.46%1.33%18.80%-20.23%11.38%16.09%29.58%-13.38%28.16%
SPY
State Street SPDR S&P 500 ETF		11.69%17.72%24.89%26.18%-18.18%28.73%18.33%31.22%-4.57%21.71%

Correlation

The correlation between IDHQ and SPY is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.74

Correlation (3Y)
Calculated over the trailing 3-year period

0.71

Correlation (5Y)
Calculated over the trailing 5-year period

0.75

Correlation (10Y)
Calculated over the trailing 10-year period

0.70

Correlation (All Time)
Calculated using the full available price history since Jun 14, 2007

0.68

The correlation between IDHQ and SPY has been stable across timeframes, ranging from 0.68 to 0.75 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco S&P International Developed High Quality ETF

State Street SPDR S&P 500 ETF

Often compared with IDHQ:
IDHQ vs. IDMOIDHQ vs. VIGIIDHQ vs. INTFIDHQ vs. BKIEIDHQ vs. FNDFIDHQ vs. SCHFIDHQ vs. VEA
Often compared with SPY:
SPY vs. QQQSPY vs. VOOSPY vs. BRK-BSPY vs. RSPSPY vs. VTISPY vs. SCHDSPY vs. GLD

Return for Risk

IDHQ vs. SPY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IDHQ
IDHQ Risk / Return Rank: 4949
Overall Rank
IDHQ Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
IDHQ Sortino Ratio Rank: 4949
Sortino Ratio Rank
IDHQ Omega Ratio Rank: 4747
Omega Ratio Rank
IDHQ Calmar Ratio Rank: 4747
Calmar Ratio Rank
IDHQ Martin Ratio Rank: 5454
Martin Ratio Rank
SPY
SPY Risk / Return Rank: 7575
Overall Rank
SPY Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
SPY Sortino Ratio Rank: 7575
Sortino Ratio Rank
SPY Omega Ratio Rank: 7676
Omega Ratio Rank
SPY Calmar Ratio Rank: 6868
Calmar Ratio Rank
SPY Martin Ratio Rank: 8080
Martin Ratio Rank
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.

IDHQ vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P International Developed High Quality ETF (IDHQ) and State Street SPDR S&P 500 ETF (SPY). 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.

IDHQSPYDifference

Sharpe ratio

Return per unit of total volatility

1.66

2.52

-0.86

Sortino ratio

Return per unit of downside risk

2.44

3.42

-0.98

Omega ratio

Gain probability vs. loss probability

1.30

1.46

-0.16

Calmar ratio

Return relative to maximum drawdown

2.38

3.42

-1.03

Martin ratio

Return relative to average drawdown

9.52

15.93

-6.41

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IDHQ vs. SPY - Sharpe Ratio Comparison

The current IDHQ Sharpe Ratio is 1.66, which is lower than the SPY Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of IDHQ and SPY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

IDHQSPYDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.66

2.52

-0.86

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.52

0.84

-0.32

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.56

0.87

-0.31

Sharpe Ratio (All Time)

Calculated using the full available price history

0.21

0.59

-0.38

Drawdowns

IDHQ vs. SPY - Drawdown Comparison

The maximum IDHQ drawdown since its inception was -73.84%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for IDHQ and SPY.

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Drawdown Indicators

IDHQSPYDifference

Max Drawdown

Largest peak-to-trough decline

-73.84%

-55.19%

-18.65%

Max Drawdown (1Y)

Largest decline over 1 year

-13.44%

-8.88%

-4.56%

Max Drawdown (3Y)

Largest decline over 3 years

-14.07%

-18.76%

+4.69%

Max Drawdown (5Y)

Largest decline over 5 years

-33.54%

-24.50%

-9.04%

Max Drawdown (10Y)

Largest decline over 10 years

-33.54%

-33.72%

+0.18%

Current Drawdown

Current decline from peak

-0.29%

0.00%

-0.29%

Average Drawdown

Average peak-to-trough decline

-21.20%

-9.05%

-12.15%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.37%

1.91%

+1.46%

Volatility

IDHQ vs. SPY - Volatility Comparison

Invesco S&P International Developed High Quality ETF (IDHQ) has a higher volatility of 7.59% compared to State Street SPDR S&P 500 ETF (SPY) at 2.75%. This indicates that IDHQ's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IDHQSPYDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.59%

2.75%

+4.84%

Volatility (6M)

Calculated over the trailing 6-month period

16.38%

8.89%

+7.49%

Volatility (1Y)

Calculated over the trailing 1-year period

18.56%

11.81%

+6.75%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.39%

17.05%

+0.34%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.93%

17.94%

-0.01%

IDHQ vs. SPY - Expense Ratio Comparison

IDHQ has a 0.29% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

IDHQ vs. SPY - Dividend Comparison

IDHQ's dividend yield for the trailing twelve months is around 2.02%, more than SPY's 0.97% yield.

PositionTTM20252024202320222021202020192018201720162015
IDHQ
Invesco S&P International Developed High Quality ETF		2.02%2.46%2.41%2.52%3.33%2.10%1.60%2.10%2.67%1.68%2.36%1.71%
SPY
State Street SPDR S&P 500 ETF		0.97%1.07%1.21%1.40%1.65%1.20%1.52%1.75%2.04%1.80%2.03%2.06%

Frequently Asked Questions

IDHQ and SPY have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IDHQ has higher volatility (7.59%) compared to SPY (2.75%). In terms of maximum drawdown, IDHQ dropped -73.84% vs SPY's -55.19%.

On 10-year performance, SPY leads with 15.57% vs 9.97% for IDHQ. On fees, SPY is cheaper at 0.09% per year. On volatility, SPY has been the lower-risk option at 2.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SPY has performed better with a 15.57% return vs 9.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SPY is cheaper with a 0.09% expense ratio, compared with 0.29% for IDHQ.

IDHQ has the higher dividend yield at 2.02%, compared with 0.97% for SPY.

IDHQ is categorized as Foreign Large Cap Equities, while SPY is S&P 500. IDHQ tracks IDHQ-US - S&P Quality Developed Ex-U.S. LargeMidCap Index, while SPY tracks S&P 500 Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.29% for IDHQ and 0.09% for SPY.

SPY currently has the higher Sharpe Ratio (2.52 vs 1.66), 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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