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IMVP vs. SPHD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IMVP vs. SPHD

Last updated Jun 4, 2026

IMVP (Invesco India ETF) and SPHD (Invesco S&P 500® High Dividend Low Volatility ETF) are both exchange-traded funds - IMVP is a Emerging Markets Equities fund tracking the FTSE India Quality and Yield Select Index, while SPHD is a Dividend fund tracking the S&P 500 Low Volatility High Dividend Index. Both are passively managed. Over the past 10 years, IMVP returned 8.19%/yr vs 7.08%/yr for SPHD. At a 0.42 correlation, their price movements are largely independent. IMVP charges 0.78%/yr vs 0.30%/yr for SPHD.

Performance

IMVP vs. SPHD - Performance Comparison

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

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Returns By Period

In the year-to-date period, IMVP achieves a -16.08% return, which is significantly lower than SPHD's 4.38% return. Over the past 10 years, IMVP has outperformed SPHD with an annualized return of 8.19%, while SPHD has yielded a comparatively lower 7.08% annualized return.

IMVP

1D
-2.11%
1M
-2.53%
YTD
-16.08%
6M
-14.80%
1Y
-16.87%
3Y*
2.95%
5Y*
2.42%
10Y*
8.19%

SPHD

1D
-0.89%
1M
-0.82%
YTD
4.38%
6M
4.63%
1Y
8.12%
3Y*
11.42%
5Y*
5.48%
10Y*
7.08%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IMVP vs. SPHD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IMVP
Invesco India ETF		-16.08%1.30%9.07%22.82%-9.35%23.68%18.41%14.26%-7.55%38.51%
SPHD
Invesco S&P 500® High Dividend Low Volatility ETF		4.38%3.41%18.08%1.32%0.58%24.98%-9.98%20.26%-6.17%11.90%

Correlation

The correlation between IMVP and SPHD is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.21

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

0.26

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

0.35

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

0.38

Correlation (All Time)
Calculated using the full available price history since Oct 31, 2012

0.42

Over the past year, the correlation between IMVP and SPHD has dropped to 0.21 - well below their long-term average of 0.42, suggesting their price drivers have been diverging.

Compare stocks, funds, or ETFs

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

Invesco India ETF

Invesco S&P 500® High Dividend Low Volatility ETF

Often compared with IMVP:
IMVP vs. INDAIMVP vs. INDEIMVP vs. GLINIMVP vs. INDYIMVP vs. RSPIMVP vs. EPIIMVP vs. FLIN
Often compared with SPHD:
SPHD vs. SCHDSPHD vs. JEPISPHD vs. SPYDSPHD vs. VYMSPHD vs. SPYSPHD vs. SPLVSPHD vs. VOO

Return for Risk

IMVP vs. SPHD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IMVP
IMVP Risk / Return Rank: 11
Overall Rank
IMVP Sharpe Ratio Rank: 11
Sharpe Ratio Rank
IMVP Sortino Ratio Rank: 22
Sortino Ratio Rank
IMVP Omega Ratio Rank: 22
Omega Ratio Rank
IMVP Calmar Ratio Rank: 22
Calmar Ratio Rank
IMVP Martin Ratio Rank: 00
Martin Ratio Rank
SPHD
SPHD Risk / Return Rank: 2121
Overall Rank
SPHD Sharpe Ratio Rank: 2121
Sharpe Ratio Rank
SPHD Sortino Ratio Rank: 2121
Sortino Ratio Rank
SPHD Omega Ratio Rank: 1919
Omega Ratio Rank
SPHD Calmar Ratio Rank: 2323
Calmar Ratio Rank
SPHD Martin Ratio Rank: 2222
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.

IMVP vs. SPHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco India ETF (IMVP) 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.

IMVPSPHDDifference
Sharpe ratioReturn per unit of total volatility
-1.05
0.74

-1.79

Sortino ratioReturn per unit of downside risk
-1.46
1.15

-2.61

Omega ratioGain probability vs. loss probability

0.83

1.13

-0.29

Calmar ratioReturn relative to maximum drawdown

-0.79

1.11

-1.90

Martin ratioReturn relative to average drawdown

-1.84

2.78

-4.62

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

IMVP vs. SPHD - Sharpe Ratio Comparison

The current IMVP Sharpe Ratio is -1.05, which is lower than the SPHD Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of IMVP 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.

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Sharpe Ratios by Period

IMVPSPHDDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-1.05

0.74

-1.79

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.15

0.39

-0.24

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.42

0.40

+0.02

Sharpe Ratio (All Time)

Calculated using the full available price history

0.12

0.58

-0.46

Drawdowns

IMVP vs. SPHD - Drawdown Comparison

The maximum IMVP drawdown since its inception was -64.54%, which is greater than SPHD's maximum drawdown of -41.39%. Use the drawdown chart below to compare losses from any high point for IMVP and SPHD.

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Drawdown Indicators

IMVPSPHDDifference

Max Drawdown

Largest peak-to-trough decline

-64.54%

-41.39%

-23.15%

Max Drawdown (1Y)

Largest decline over 1 year

-21.44%

-7.33%

-14.11%

Max Drawdown (3Y)

Largest decline over 3 years

-25.80%

-13.29%

-12.51%

Max Drawdown (5Y)

Largest decline over 5 years

-25.80%

-19.50%

-6.30%

Max Drawdown (10Y)

Largest decline over 10 years

-39.69%

-41.39%

+1.70%

Current Drawdown

Current decline from peak

-23.71%

-5.37%

-18.34%

Average Drawdown

Average peak-to-trough decline

-16.70%

-4.70%

-12.00%

Ulcer Index

Depth and duration of drawdowns from previous peaks

9.16%

2.93%

+6.23%

Volatility

IMVP vs. SPHD - Volatility Comparison

Invesco India ETF (IMVP) has a higher volatility of 6.00% compared to Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) at 2.99%. This indicates that IMVP'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.

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Volatility by Period

IMVPSPHDDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.00%

2.99%

+3.01%

Volatility (6M)

Calculated over the trailing 6-month period

14.16%

7.55%

+6.61%

Volatility (1Y)

Calculated over the trailing 1-year period

16.17%

11.04%

+5.13%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.11%

14.16%

+1.95%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.59%

17.64%

+1.95%

IMVP vs. SPHD - Expense Ratio Comparison

IMVP has a 0.78% expense ratio, which is higher than SPHD's 0.30% expense ratio.

Dividends

IMVP vs. SPHD - Dividend Comparison

IMVP's dividend yield for the trailing twelve months is around 8.81%, more than SPHD's 4.62% yield.

PositionTTM20252024202320222021202020192018201720162015
IMVP
Invesco India ETF		8.81%7.39%8.48%2.08%14.07%6.95%0.72%36.35%0.96%1.01%1.18%0.61%
SPHD
Invesco S&P 500® High Dividend Low Volatility ETF		4.62%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

IMVP and SPHD have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IMVP has higher volatility (6.00%) compared to SPHD (2.99%). In terms of maximum drawdown, IMVP dropped -64.54% vs SPHD's -41.39%.

On 10-year performance, IMVP leads with 8.19% vs 7.08% for SPHD. On fees, SPHD is cheaper at 0.30% per year. On volatility, SPHD has been the lower-risk option at 2.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IMVP has performed better with a 8.19% return vs 7.08%. 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 0.78% for IMVP.

IMVP has the higher dividend yield at 8.81%, compared with 4.62% for SPHD.

IMVP is categorized as Emerging Markets Equities, while SPHD is Dividend. IMVP tracks FTSE India Quality and Yield Select Index, while SPHD tracks S&P 500 Low Volatility High Dividend Index. Their fees differ too: 0.78% for IMVP and 0.30% for SPHD.

SPHD currently has the higher Sharpe Ratio (0.74 vs -1.05), 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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