RECS vs. SPHQ

Last updated Jun 24, 2026

RECS (Columbia Research Enhanced Core ETF) and SPHQ (Invesco S&P 500 Quality ETF) are both exchange-traded funds - RECS is a Large Cap Growth Equities fund tracking the Beta Advantage Research Enhanced U.S. Equity Index, while SPHQ is a S&P 500 fund tracking the S&P 500 Quality Index. Both are passively managed. Over the past 10 years, RECS returned 9.72%/yr vs 15.46%/yr for SPHQ. At a 0.46 correlation, their price movements are largely independent. Both charge a 0.15% expense ratio.

Performance

RECS vs. SPHQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia Research Enhanced Core ETF (RECS) and Invesco S&P 500 Quality ETF (SPHQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RECS achieves a 4.95% return, which is significantly lower than SPHQ's 16.54% return. Over the past 10 years, RECS has underperformed SPHQ with an annualized return of 9.72%, while SPHQ has yielded a comparatively higher 15.46% annualized return.

RECS

• 1D: -0.60%
• 1M: -0.92%
• YTD: 4.95%
• 6M: 3.98%
• 1Y: 21.27%
• 3Y*: 20.55%
• 5Y*: 13.53%
• 10Y*: 9.72%

SPHQ

• 1D: -2.93%
• 1M: 2.94%
• YTD: 16.54%
• 6M: 15.11%
• 1Y: 25.84%
• 3Y*: 22.34%
• 5Y*: 14.14%
• 10Y*: 15.46%

*Multi-year figures are annualized to reflect compound growth (CAGR)

RECS vs. SPHQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RECS Columbia Research Enhanced Core ETF	4.95%	19.30%	26.27%	23.19%	-14.39%	32.73%	15.35%	-0.93%	0.00%	0.00%
SPHQ Invesco S&P 500 Quality ETF	16.54%	13.25%	25.44%	24.83%	-15.76%	28.03%	17.36%	33.64%	-7.10%	19.10%

Correlation

The correlation between RECS and SPHQ is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Dec 6, 2005	0.46

Over the past year, RECS and SPHQ have become more correlated (0.78) than their long-term average of 0.46, meaning their price movements have been converging.

RECS vs. SPHQ - Sectors Allocation Comparison

Sectors	RECS	SPHQ
Technology	32.9%	32.0%
Financial Services	16.9%	12.4%
Consumer Cyclical	10.4%	4.4%
Healthcare	9.2%	8.0%
Communication Services	7.6%	2.5%
Industrials	7.3%	22.7%
Consumer Defensive	4.8%	14.4%
Energy	3.5%	0.6%
Utilities	2.3%	0.9%
Real Estate	2.3%	-
Basic Materials	2.2%	2.1%

Return for Risk

RECS vs. SPHQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

RECS

RECS Risk / Return Rank: 55
RECS Sharpe Ratio Rank: 55
RECS Sortino Ratio Rank: 54
RECS Omega Ratio Rank: 52
RECS Calmar Ratio Rank: 52
RECS Martin Ratio Rank: 60

SPHQ

SPHQ Risk / Return Rank: 61
SPHQ Sharpe Ratio Rank: 60
SPHQ Sortino Ratio Rank: 60
SPHQ Omega Ratio Rank: 56
SPHQ Calmar Ratio Rank: 61
SPHQ Martin Ratio Rank: 70

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

RECS vs. SPHQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia Research Enhanced Core ETF (RECS) and Invesco S&P 500 Quality ETF (SPHQ). 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.

	RECS	SPHQ	Difference
Sharpe ratio: Return per unit of total volatility	1.77	1.94	-0.17
Sortino ratio: Return per unit of downside risk	2.47	2.74	-0.27
Omega ratio: Gain probability vs. loss probability	1.31	1.34	-0.02
Calmar ratio: Return relative to maximum drawdown	2.42	2.92	-0.49
Martin ratio: Return relative to average drawdown	10.23	12.48	-2.25

RECS vs. SPHQ - Sharpe Ratio Comparison

The current RECS Sharpe Ratio is 1.77, which is comparable to the SPHQ Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of RECS and SPHQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

RECS vs. SPHQ - Drawdown Comparison

The maximum RECS drawdown since its inception was -34.29%, smaller than the maximum SPHQ drawdown of -57.83%. Use the drawdown chart below to compare losses from any high point for RECS and SPHQ.

Drawdown Indicators

	RECS	SPHQ	Difference
Max Drawdown Largest peak-to-trough decline	-34.29%	-57.83%	+23.54%
Max Drawdown (1Y) Largest decline over 1 year	-8.82%	-8.90%	+0.08%
Max Drawdown (3Y) Largest decline over 3 years	-18.60%	-16.57%	-2.03%
Max Drawdown (5Y) Largest decline over 5 years	-22.08%	-25.04%	+2.96%
Max Drawdown (10Y) Largest decline over 10 years	-34.29%	-31.60%	-2.69%
Current Drawdown Current decline from peak	-2.48%	-2.93%	+0.45%
Average Drawdown Average peak-to-trough decline	-1.28%	-10.68%	+9.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.08%	2.07%	+0.01%

Volatility

RECS vs. SPHQ - Volatility Comparison

The current volatility for Columbia Research Enhanced Core ETF (RECS) is 3.90%, while Invesco S&P 500 Quality ETF (SPHQ) has a volatility of 5.88%. This indicates that RECS experiences smaller price fluctuations and is considered to be less risky than SPHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RECS	SPHQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.90%	5.88%	-1.98%
Volatility (6M) Calculated over the trailing 6-month period	9.38%	11.30%	-1.92%
Volatility (1Y) Calculated over the trailing 1-year period	12.11%	13.46%	-1.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.43%	16.59%	-0.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.26%	17.91%	-1.65%

RECS vs. SPHQ - Expense Ratio Comparison

Both RECS and SPHQ have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

RECS vs. SPHQ - Dividend Comparison

RECS's dividend yield for the trailing twelve months is around 1.06%, which matches SPHQ's 1.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RECS Columbia Research Enhanced Core ETF	1.06%	1.11%	1.09%	1.00%	1.41%	20.64%	1.09%	0.49%	0.00%	0.00%	0.00%	0.00%
SPHQ Invesco S&P 500 Quality ETF	1.07%	1.09%	1.15%	1.42%	1.85%	1.19%	1.55%	1.51%	1.85%	1.57%	1.67%	2.29%

Frequently Asked Questions

Can I hold both RECS and SPHQ in my portfolio?

RECS and SPHQ have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RECS or SPHQ?

SPHQ has higher volatility (5.88%) compared to RECS (3.90%). In terms of maximum drawdown, RECS dropped -34.29% vs SPHQ's -57.83%.

Which ETF is better, RECS or SPHQ?

On 10-year performance, SPHQ leads with 15.46% vs 9.72% for RECS. Both ETFs have the same 0.15% expense ratio. On volatility, RECS has been the lower-risk option at 3.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RECS or SPHQ?

Over the 10-year period, SPHQ has performed better with a 15.46% return vs 9.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RECS or SPHQ?

RECS and SPHQ have the same expense ratio: 0.15% per year.

Which ETF pays a higher dividend yield, RECS or SPHQ?

RECS and SPHQ have nearly identical dividend yields, around 1.06%.

What is the main difference between RECS and SPHQ?

RECS is categorized as Large Cap Growth Equities, while SPHQ is S&P 500. RECS tracks Beta Advantage Research Enhanced U.S. Equity Index, while SPHQ tracks S&P 500 Quality Index. They also come from different issuers: Ameriprise Financial and Invesco.

Which has better risk-adjusted returns?

SPHQ currently has the higher Sharpe Ratio (1.94 vs 1.77), 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.