PSCH vs. SPHD
PSCH (Invesco S&P SmallCap Health Care ETF) and SPHD (Invesco S&P 500® High Dividend Low Volatility ETF) are both exchange-traded funds - PSCH is a Health & Biotech Equities fund tracking the S&P SmallCap 600 Health Care 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, PSCH returned 8.18%/yr vs 7.55%/yr for SPHD. A 0.53 correlation means they provide meaningful diversification when combined. PSCH charges 0.29%/yr vs 0.30%/yr for SPHD.
Performance
PSCH vs. SPHD - Performance Comparison
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Returns By Period
In the year-to-date period, PSCH achieves a 11.73% return, which is significantly higher than SPHD's 8.20% return. Over the past 10 years, PSCH has outperformed SPHD with an annualized return of 8.18%, while SPHD has yielded a comparatively lower 7.55% annualized return.
PSCH
- 1D
- 1.22%
- 1M
- 10.05%
- YTD
- 11.73%
- 6M
- 7.03%
- 1Y
- 24.00%
- 3Y*
- 4.19%
- 5Y*
- -5.17%
- 10Y*
- 8.18%
SPHD
- 1D
- 1.63%
- 1M
- 0.82%
- YTD
- 8.20%
- 6M
- 8.56%
- 1Y
- 12.09%
- 3Y*
- 12.70%
- 5Y*
- 7.06%
- 10Y*
- 7.55%
PSCH vs. SPHD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSCH Invesco S&P SmallCap Health Care ETF | 11.73% | -0.49% | 3.77% | -2.71% | -25.15% | 5.75% | 31.47% | 20.17% | 9.15% | 34.87% |
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 8.20% | 3.41% | 18.08% | 1.32% | 0.58% | 24.98% | -9.98% | 20.26% | -6.17% | 11.90% |
Correlation
The correlation between PSCH and SPHD is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2012 | 0.53 |
The correlation between PSCH and SPHD shifts across timeframes, from 0.41 (1 year) to 0.54 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PSCH vs. SPHD — Risk / Return Rank
PSCH
SPHD
PSCH vs. SPHD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Health Care ETF (PSCH) 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.
| PSCH | SPHD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.18 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.57 | 1.66 | -0.09 |
| Martin ratioReturn relative to average drawdown | 4.73 | 4.06 | +0.67 |
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Drawdowns
PSCH vs. SPHD - Drawdown Comparison
The maximum PSCH drawdown since its inception was -46.32%, which is greater than SPHD's maximum drawdown of -41.39%. Use the drawdown chart below to compare losses from any high point for PSCH and SPHD.
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Drawdown Indicators
| PSCH | SPHD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.32% | -41.39% | -4.93% |
Max Drawdown (1Y)Largest decline over 1 year | -15.36% | -7.33% | -8.03% |
Max Drawdown (3Y)Largest decline over 3 years | -22.98% | -13.29% | -9.69% |
Max Drawdown (5Y)Largest decline over 5 years | -46.32% | -19.50% | -26.82% |
Max Drawdown (10Y)Largest decline over 10 years | -46.32% | -41.39% | -4.93% |
Current DrawdownCurrent decline from peak | -23.82% | -1.91% | -21.91% |
Average DrawdownAverage peak-to-trough decline | -13.50% | -4.69% | -8.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.08% | 2.98% | +2.10% |
Volatility
PSCH vs. SPHD - Volatility Comparison
Invesco S&P SmallCap Health Care ETF (PSCH) has a higher volatility of 4.90% compared to Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) at 4.26%. This indicates that PSCH'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
| PSCH | SPHD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.90% | 4.26% | +0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 14.54% | 8.13% | +6.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.45% | 11.48% | +8.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.94% | 14.16% | +8.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.63% | 17.65% | +5.98% |
PSCH vs. SPHD - Expense Ratio Comparison
PSCH has a 0.29% expense ratio, which is lower than SPHD's 0.30% expense ratio.
Dividends
PSCH vs. SPHD - Dividend Comparison
PSCH's dividend yield for the trailing twelve months is around 0.01%, less than SPHD's 4.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PSCH Invesco S&P SmallCap Health Care ETF | 0.01% | 0.04% | 0.27% | 0.01% | 2.27% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.03% | 0.00% |
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 4.60% | 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
PSCH and SPHD have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PSCH has higher volatility (4.90%) compared to SPHD (4.26%). In terms of maximum drawdown, PSCH dropped -46.32% vs SPHD's -41.39%.
On 10-year performance, PSCH leads with 8.18% vs 7.55% for SPHD. On fees, PSCH is cheaper at 0.29% per year. On volatility, SPHD has been the lower-risk option at 4.26%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PSCH has performed better with a 8.18% return vs 7.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PSCH is cheaper with a 0.29% expense ratio, compared with 0.30% for SPHD.
SPHD has the higher dividend yield at 4.60%, compared with 0.01% for PSCH.
PSCH is categorized as Health & Biotech Equities, while SPHD is Dividend. PSCH tracks S&P SmallCap 600 Health Care Index, while SPHD tracks S&P 500 Low Volatility High Dividend Index. Their fees differ too: 0.29% for PSCH and 0.30% for SPHD.
PSCH currently has the higher Sharpe Ratio (1.18 vs 1.06), 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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