LVHD vs. SPLV
LVHD (Franklin U.S. Low Volatility High Dividend Index ETF) and SPLV (Invesco S&P 500 Low Volatility ETF) are both exchange-traded funds - LVHD is a Dividend fund tracking the Franklin U.S. Low Volatility High Dividend Index, while SPLV is a S&P 500 fund tracking the S&P 500 Low Volatility Index. Both are passively managed. Over the past 10 years, LVHD returned 8.35%/yr vs 8.38%/yr for SPLV. Their correlation of 0.87 suggests significant overlap in exposure. LVHD charges 0.27%/yr vs 0.25%/yr for SPLV.
Performance
LVHD vs. SPLV - Performance Comparison
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Returns By Period
In the year-to-date period, LVHD achieves a 10.55% return, which is significantly higher than SPLV's 5.06% return. Both investments have delivered pretty close results over the past 10 years, with LVHD having a 8.35% annualized return and SPLV not far ahead at 8.38%.
LVHD
- 1D
- 1.56%
- 1M
- 1.00%
- YTD
- 10.55%
- 6M
- 10.56%
- 1Y
- 13.38%
- 3Y*
- 10.78%
- 5Y*
- 7.44%
- 10Y*
- 8.35%
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%
LVHD vs. SPLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LVHD Franklin U.S. Low Volatility High Dividend Index ETF | 10.55% | 7.50% | 10.18% | -0.95% | -1.82% | 26.90% | -1.28% | 22.91% | -5.58% | 14.25% |
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 LVHD and SPLV 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 | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Dec 29, 2015 | 0.87 |
The correlation between LVHD and SPLV has been stable across timeframes, ranging from 0.87 to 0.91 - a consistent structural relationship.
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Return for Risk
LVHD vs. SPLV — Risk / Return Rank
LVHD
SPLV
LVHD vs. SPLV - 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 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.
| LVHD | SPLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.91 | ||
| Sortino ratioReturn per unit of downside risk | +1.31 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.08 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | 0.60 | +1.58 |
| Martin ratioReturn relative to average drawdown | 5.41 | 1.39 | +4.02 |
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Drawdowns
LVHD vs. SPLV - Drawdown Comparison
The maximum LVHD drawdown since its inception was -37.32%, roughly equal to the maximum SPLV drawdown of -36.26%. Use the drawdown chart below to compare losses from any high point for LVHD and SPLV.
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Drawdown Indicators
| LVHD | SPLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.32% | -36.26% | -1.06% |
Max Drawdown (1Y)Largest decline over 1 year | -6.17% | -7.41% | +1.24% |
Max Drawdown (3Y)Largest decline over 3 years | -14.29% | -9.64% | -4.65% |
Max Drawdown (5Y)Largest decline over 5 years | -16.75% | -17.26% | +0.51% |
Max Drawdown (10Y)Largest decline over 10 years | -37.32% | -36.26% | -1.06% |
Current DrawdownCurrent decline from peak | -1.43% | -3.47% | +2.04% |
Average DrawdownAverage peak-to-trough decline | -4.04% | -3.55% | -0.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.48% | 3.20% | -0.72% |
Volatility
LVHD vs. SPLV - Volatility Comparison
Franklin U.S. Low Volatility High Dividend Index ETF (LVHD) and Invesco S&P 500 Low Volatility ETF (SPLV) have volatilities of 4.05% and 4.26%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LVHD | SPLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.05% | 4.26% | -0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 7.26% | 7.38% | -0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.98% | 10.28% | -0.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.91% | 12.50% | +0.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.53% | 15.39% | +0.14% |
LVHD vs. SPLV - Expense Ratio Comparison
LVHD has a 0.27% expense ratio, which is higher than SPLV's 0.25% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
LVHD vs. SPLV - Dividend Comparison
LVHD's dividend yield for the trailing twelve months is around 3.29%, more than SPLV's 2.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LVHD Franklin U.S. Low Volatility High Dividend Index ETF | 3.29% | 3.35% | 4.23% | 3.55% | 3.30% | 2.56% | 3.27% | 3.30% | 3.82% | 3.33% | 2.48% | 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
With a correlation of 0.91, LVHD and SPLV 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.
SPLV has higher volatility (4.26%) compared to LVHD (4.05%). In terms of maximum drawdown, LVHD dropped -37.32% vs SPLV's -36.26%.
On 10-year performance, SPLV leads with 8.38% vs 8.35% for LVHD. On fees, SPLV is cheaper at 0.25% per year. On volatility, LVHD has been the lower-risk option at 4.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPLV has performed better with a 8.38% return vs 8.35%. 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 0.27% for LVHD.
LVHD has the higher dividend yield at 3.29%, compared with 2.16% for SPLV.
LVHD is categorized as Dividend, while SPLV is S&P 500. LVHD tracks Franklin U.S. Low Volatility High Dividend Index, while SPLV tracks S&P 500 Low Volatility Index. They also come from different issuers: Franklin Templeton and Invesco. Their fees differ too: 0.27% for LVHD and 0.25% for SPLV.
LVHD currently has the higher Sharpe Ratio (1.35 vs 0.44), 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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