PSCM vs. SPHD
PSCM (Invesco S&P SmallCap Materials ETF) and SPHD (Invesco S&P 500® High Dividend Low Volatility ETF) are both exchange-traded funds - PSCM is a Materials fund tracking the S&P Small Cap 600 / Materials -SEC, 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, PSCM returned 12.85%/yr vs 7.55%/yr for SPHD. A 0.56 correlation means they provide meaningful diversification when combined. PSCM charges 0.29%/yr vs 0.30%/yr for SPHD.
Performance
PSCM vs. SPHD - Performance Comparison
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Returns By Period
In the year-to-date period, PSCM achieves a 23.80% return, which is significantly higher than SPHD's 8.20% return. Over the past 10 years, PSCM has outperformed SPHD with an annualized return of 12.85%, while SPHD has yielded a comparatively lower 7.55% annualized return.
PSCM
- 1D
- -2.69%
- 1M
- 1.68%
- YTD
- 23.80%
- 6M
- 22.73%
- 1Y
- 53.82%
- 3Y*
- 18.03%
- 5Y*
- 10.65%
- 10Y*
- 12.85%
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%
PSCM vs. SPHD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSCM Invesco S&P SmallCap Materials ETF | 23.80% | 15.59% | 0.67% | 19.86% | -6.45% | 18.02% | 22.18% | 21.75% | -23.28% | 10.37% |
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 PSCM and SPHD is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2012 | 0.56 |
The correlation between PSCM and SPHD shifts across timeframes, from 0.40 (1 year) to 0.60 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PSCM vs. SPHD — Risk / Return Rank
PSCM
SPHD
PSCM vs. SPHD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Materials ETF (PSCM) 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.
| PSCM | SPHD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.16 | ||
| Sortino ratioReturn per unit of downside risk | +1.48 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.18 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 3.78 | 1.66 | +2.12 |
| Martin ratioReturn relative to average drawdown | 14.00 | 4.06 | +9.94 |
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Drawdowns
PSCM vs. SPHD - Drawdown Comparison
The maximum PSCM drawdown since its inception was -51.34%, which is greater than SPHD's maximum drawdown of -41.39%. Use the drawdown chart below to compare losses from any high point for PSCM and SPHD.
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Drawdown Indicators
| PSCM | SPHD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.34% | -41.39% | -9.95% |
Max Drawdown (1Y)Largest decline over 1 year | -14.33% | -7.33% | -7.00% |
Max Drawdown (3Y)Largest decline over 3 years | -35.36% | -13.29% | -22.07% |
Max Drawdown (5Y)Largest decline over 5 years | -35.36% | -19.50% | -15.86% |
Max Drawdown (10Y)Largest decline over 10 years | -51.34% | -41.39% | -9.95% |
Current DrawdownCurrent decline from peak | -4.64% | -1.91% | -2.73% |
Average DrawdownAverage peak-to-trough decline | -10.88% | -4.69% | -6.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.86% | 2.98% | +0.88% |
Volatility
PSCM vs. SPHD - Volatility Comparison
Invesco S&P SmallCap Materials ETF (PSCM) has a higher volatility of 8.22% compared to Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) at 4.26%. This indicates that PSCM'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
| PSCM | SPHD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.22% | 4.26% | +3.96% |
Volatility (6M)Calculated over the trailing 6-month period | 17.32% | 8.13% | +9.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.46% | 11.48% | +12.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.83% | 14.16% | +11.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.89% | 17.65% | +9.24% |
PSCM vs. SPHD - Expense Ratio Comparison
PSCM has a 0.29% expense ratio, which is lower than SPHD's 0.30% expense ratio.
Dividends
PSCM vs. SPHD - Dividend Comparison
PSCM's dividend yield for the trailing twelve months is around 0.97%, less than SPHD's 4.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PSCM Invesco S&P SmallCap Materials ETF | 0.97% | 1.17% | 0.80% | 0.81% | 0.93% | 0.67% | 1.56% | 1.14% | 1.25% | 0.61% | 0.76% | 1.33% |
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
PSCM and SPHD have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PSCM has higher volatility (8.22%) compared to SPHD (4.26%). In terms of maximum drawdown, PSCM dropped -51.34% vs SPHD's -41.39%.
On 10-year performance, PSCM leads with 12.85% vs 7.55% for SPHD. On fees, PSCM 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, PSCM has performed better with a 12.85% return vs 7.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PSCM 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 0.97% for PSCM.
PSCM is categorized as Materials, while SPHD is Dividend. PSCM tracks S&P Small Cap 600 / Materials -SEC, while SPHD tracks S&P 500 Low Volatility High Dividend Index. Their fees differ too: 0.29% for PSCM and 0.30% for SPHD.
PSCM currently has the higher Sharpe Ratio (2.22 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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