IMVP vs. SPHD
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 7.91%/yr vs 7.11%/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
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Returns By Period
In the year-to-date period, IMVP achieves a -14.84% return, which is significantly lower than SPHD's 11.04% return. Over the past 10 years, IMVP has outperformed SPHD with an annualized return of 7.91%, while SPHD has yielded a comparatively lower 7.11% annualized return.
IMVP
- 1D
- 0.02%
- 1M
- 1.23%
- 6M
- -13.85%
- YTD
- -14.84%
- 1Y
- -16.56%
- 3Y*
- 1.70%
- 5Y*
- 2.99%
- 10Y*
- 7.91%
SPHD
- 1D
- -0.38%
- 1M
- 1.18%
- 6M
- 9.58%
- YTD
- 11.04%
- 1Y
- 12.21%
- 3Y*
- 12.09%
- 5Y*
- 7.71%
- 10Y*
- 7.11%
IMVP vs. SPHD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IMVP Invesco India ETF | -14.84% | 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 | 11.04% | 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 0.15, 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 | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2012 | 0.42 |
Over the past year, the correlation between IMVP and SPHD has dropped to 0.15 - well below their long-term average of 0.42, suggesting their price drivers have been diverging.
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Return for Risk
IMVP vs. SPHD — Risk / Return Rank
IMVP
SPHD
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.
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.
| IMVP | SPHD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.06 | ||
| Sortino ratioReturn per unit of downside risk | -3.00 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.18 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.81 | 1.67 | -2.49 |
| Martin ratioReturn relative to average drawdown | -1.67 | 4.10 | -5.77 |
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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
| IMVP | SPHD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.54% | -41.39% | -23.15% |
Max Drawdown (1Y)Largest decline over 1 year | -20.45% | -7.33% | -13.12% |
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 DrawdownCurrent decline from peak | -22.58% | -0.63% | -21.95% |
Average DrawdownAverage peak-to-trough decline | -16.73% | -4.68% | -12.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.95% | 2.99% | +6.96% |
Volatility
IMVP vs. SPHD - Volatility Comparison
The current volatility for Invesco India ETF (IMVP) is 3.86%, while Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) has a volatility of 4.82%. This indicates that IMVP 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
| IMVP | SPHD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.86% | 4.82% | -0.96% |
Volatility (6M)Calculated over the trailing 6-month period | 14.43% | 8.70% | +5.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.43% | 11.70% | +4.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.18% | 14.20% | +1.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.50% | 17.64% | +1.86% |
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 11.84%, more than SPHD's 4.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IMVP Invesco India ETF | 11.84% | 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 | 4.48% | 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 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPHD has higher volatility (4.82%) compared to IMVP (3.86%). In terms of maximum drawdown, IMVP dropped -64.54% vs SPHD's -41.39%.
On 10-year performance, IMVP leads with 7.91% vs 7.11% for SPHD. On fees, SPHD is cheaper at 0.30% per year. On volatility, IMVP has been the lower-risk option at 3.86%. 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 7.91% return vs 7.11%. 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 11.84%, compared with 4.48% 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 (1.05 vs -1.01), 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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