LVHD vs. SPHD
LVHD (Franklin U.S. Low Volatility High Dividend Index ETF) and SPHD (Invesco S&P 500® High Dividend Low Volatility ETF) are both Dividend funds - LVHD tracks the Franklin U.S. Low Volatility High Dividend Index while SPHD tracks the S&P 500 Low Volatility High Dividend Index. Both are passively managed. Over the past 10 years, LVHD returned 8.14%/yr vs 7.15%/yr for SPHD. Their correlation of 0.91 suggests significant overlap in exposure. LVHD charges 0.27%/yr vs 0.30%/yr for SPHD.
Performance
LVHD vs. SPHD - Performance Comparison
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Returns By Period
In the year-to-date period, LVHD achieves a 13.28% return, which is significantly higher than SPHD's 11.46% return. Over the past 10 years, LVHD has outperformed SPHD with an annualized return of 8.14%, while SPHD has yielded a comparatively lower 7.15% annualized return.
LVHD
- 1D
- 0.45%
- 1M
- 2.10%
- 6M
- 11.64%
- YTD
- 13.28%
- 1Y
- 14.86%
- 3Y*
- 10.36%
- 5Y*
- 7.56%
- 10Y*
- 8.14%
SPHD
- 1D
- 0.69%
- 1M
- 1.57%
- 6M
- 10.25%
- YTD
- 11.46%
- 1Y
- 12.48%
- 3Y*
- 12.24%
- 5Y*
- 7.79%
- 10Y*
- 7.15%
LVHD vs. SPHD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LVHD Franklin U.S. Low Volatility High Dividend Index ETF | 13.28% | 7.50% | 10.18% | -0.95% | -1.82% | 26.90% | -1.28% | 22.91% | -5.58% | 14.25% |
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 11.46% | 3.41% | 18.08% | 1.32% | 0.58% | 24.98% | -9.98% | 20.26% | -6.17% | 11.90% |
Correlation
The correlation between LVHD and SPHD is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Dec 29, 2015 | 0.91 |
The correlation between LVHD and SPHD has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.
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Return for Risk
LVHD vs. SPHD — Risk / Return Rank
LVHD
SPHD
LVHD vs. SPHD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin U.S. Low Volatility High Dividend Index ETF (LVHD) 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.
| LVHD | SPHD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.38 | ||
| Sortino ratioReturn per unit of downside risk | +0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.18 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.42 | 1.71 | +0.71 |
| Martin ratioReturn relative to average drawdown | 6.00 | 4.19 | +1.81 |
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Drawdowns
LVHD vs. SPHD - Drawdown Comparison
The maximum LVHD drawdown since its inception was -37.32%, smaller than the maximum SPHD drawdown of -41.39%. Use the drawdown chart below to compare losses from any high point for LVHD and SPHD.
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Drawdown Indicators
| LVHD | SPHD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.32% | -41.39% | +4.07% |
Max Drawdown (1Y)Largest decline over 1 year | -6.17% | -7.33% | +1.16% |
Max Drawdown (3Y)Largest decline over 3 years | -14.29% | -13.29% | -1.00% |
Max Drawdown (5Y)Largest decline over 5 years | -16.75% | -19.50% | +2.75% |
Max Drawdown (10Y)Largest decline over 10 years | -37.32% | -41.39% | +4.07% |
Current DrawdownCurrent decline from peak | -0.82% | -0.25% | -0.57% |
Average DrawdownAverage peak-to-trough decline | -4.02% | -4.68% | +0.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.48% | 2.99% | -0.51% |
Volatility
LVHD vs. SPHD - Volatility Comparison
The current volatility for Franklin U.S. Low Volatility High Dividend Index ETF (LVHD) is 4.43%, while Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) has a volatility of 4.79%. This indicates that LVHD 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
| LVHD | SPHD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.43% | 4.79% | -0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 7.77% | 8.69% | -0.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.30% | 11.72% | -1.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.99% | 14.20% | -1.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.55% | 17.64% | -2.09% |
LVHD vs. SPHD - Expense Ratio Comparison
LVHD has a 0.27% expense ratio, which is lower than SPHD's 0.30% expense ratio.
Dividends
LVHD vs. SPHD - Dividend Comparison
LVHD's dividend yield for the trailing twelve months is around 3.21%, less than SPHD's 4.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LVHD Franklin U.S. Low Volatility High Dividend Index ETF | 3.21% | 3.35% | 4.23% | 3.55% | 3.30% | 2.56% | 3.27% | 3.30% | 3.82% | 3.33% | 2.48% | 0.00% |
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 4.46% | 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
With a correlation of 0.91, LVHD and SPHD move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
SPHD has higher volatility (4.79%) compared to LVHD (4.43%). In terms of maximum drawdown, LVHD dropped -37.32% vs SPHD's -41.39%.
On 10-year performance, LVHD leads with 8.14% vs 7.15% for SPHD. On fees, LVHD is cheaper at 0.27% per year. On volatility, LVHD has been the lower-risk option at 4.43%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, LVHD has performed better with a 8.14% return vs 7.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LVHD is cheaper with a 0.27% expense ratio, compared with 0.30% for SPHD.
SPHD has the higher dividend yield at 4.46%, compared with 3.21% for LVHD.
LVHD tracks Franklin U.S. Low Volatility High Dividend Index, while SPHD tracks S&P 500 Low Volatility High Dividend Index. They also come from different issuers: Franklin Templeton and Invesco. Their fees differ too: 0.27% for LVHD and 0.30% for SPHD.
LVHD currently has the higher Sharpe Ratio (1.45 vs 1.07), 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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