SPDV vs. RDIV

Last updated Jun 24, 2026

SPDV (AAM S&P 500 High Dividend Value ETF) and RDIV (Invesco S&P Ultra Dividend Revenue ETF) are both exchange-traded funds - SPDV is a Dividend fund tracking the S&P 500 Dividend and Free Cash Flow Yield Index, while RDIV is a Mid Cap Value Equities fund tracking the S&P 900 Dividend Revenue-Weighted Index. Both are passively managed. Over the past 5 years, SPDV returned 9.01%/yr vs 11.36%/yr for RDIV. Their correlation of 0.90 suggests significant overlap in exposure. SPDV charges 0.29%/yr vs 0.39%/yr for RDIV.

Performance

SPDV vs. RDIV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AAM S&P 500 High Dividend Value ETF (SPDV) and Invesco S&P Ultra Dividend Revenue ETF (RDIV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with SPDV having a 13.31% return and RDIV slightly higher at 13.79%.

SPDV

• 1D: 0.10%
• 1M: -0.63%
• YTD: 13.31%
• 6M: 13.16%
• 1Y: 24.69%
• 3Y*: 16.36%
• 5Y*: 9.01%
• 10Y*: —

RDIV

• 1D: 1.18%
• 1M: 0.13%
• YTD: 13.79%
• 6M: 13.59%
• 1Y: 28.68%
• 3Y*: 19.82%
• 5Y*: 11.36%
• 10Y*: 11.03%

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

SPDV vs. RDIV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPDV AAM S&P 500 High Dividend Value ETF	13.31%	10.90%	14.40%	5.45%	-2.27%	29.54%	-6.09%	20.46%	-6.59%	4.64%
RDIV Invesco S&P Ultra Dividend Revenue ETF	13.79%	12.36%	15.17%	4.66%	7.16%	29.12%	-9.31%	22.62%	-4.78%	4.39%

Correlation

The correlation between SPDV and RDIV is 0.85, 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	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (All Time) Calculated using the full available price history since Nov 29, 2017	0.90

The correlation between SPDV and RDIV has been stable across timeframes, ranging from 0.85 to 0.91 - a consistent structural relationship.

SPDV vs. RDIV - Sectors Allocation Comparison

Sectors	SPDV	RDIV
Consumer Cyclical	14.5%	15.0%
Technology	14.0%	6.2%
Healthcare	9.8%	6.8%
Real Estate	9.5%	7.3%
Financial Services	9.1%	17.8%
Consumer Defensive	9.0%	14.6%
Energy	8.9%	17.3%
Industrials	7.8%	-
Communication Services	7.4%	8.8%
Utilities	5.3%	6.2%
Basic Materials	4.6%	0.5%

Return for Risk

SPDV vs. RDIV — Risk / Return Rank

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

SPDV

SPDV Risk / Return Rank: 70
SPDV Sharpe Ratio Rank: 64
SPDV Sortino Ratio Rank: 69
SPDV Omega Ratio Rank: 62
SPDV Calmar Ratio Rank: 83
SPDV Martin Ratio Rank: 69

RDIV

RDIV Risk / Return Rank: 78
RDIV Sharpe Ratio Rank: 70
RDIV Sortino Ratio Rank: 75
RDIV Omega Ratio Rank: 66
RDIV Calmar Ratio Rank: 92
RDIV Martin Ratio Rank: 85

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.

SPDV vs. RDIV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AAM S&P 500 High Dividend Value ETF (SPDV) and Invesco S&P Ultra Dividend Revenue ETF (RDIV). 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.

	SPDV	RDIV	Difference
Sharpe ratio: Return per unit of total volatility	2.02	2.15	-0.13
Sortino ratio: Return per unit of downside risk	2.97	3.15	-0.18
Omega ratio: Gain probability vs. loss probability	1.36	1.37	-0.02
Calmar ratio: Return relative to maximum drawdown	4.28	5.95	-1.67
Martin ratio: Return relative to average drawdown	12.11	17.00	-4.89

SPDV vs. RDIV - Sharpe Ratio Comparison

The current SPDV Sharpe Ratio is 2.02, which is comparable to the RDIV Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of SPDV and RDIV, 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

SPDV vs. RDIV - Drawdown Comparison

The maximum SPDV drawdown since its inception was -43.81%, smaller than the maximum RDIV drawdown of -49.97%. Use the drawdown chart below to compare losses from any high point for SPDV and RDIV.

Drawdown Indicators

	SPDV	RDIV	Difference
Max Drawdown Largest peak-to-trough decline	-43.81%	-49.97%	+6.16%
Max Drawdown (1Y) Largest decline over 1 year	-5.80%	-4.84%	-0.96%
Max Drawdown (3Y) Largest decline over 3 years	-18.62%	-17.91%	-0.71%
Max Drawdown (5Y) Largest decline over 5 years	-21.31%	-24.89%	+3.58%
Max Drawdown (10Y) Largest decline over 10 years	—	-49.97%	—
Current Drawdown Current decline from peak	-2.37%	-2.54%	+0.17%
Average Drawdown Average peak-to-trough decline	-6.53%	-5.84%	-0.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	1.69%	+0.35%

Volatility

SPDV vs. RDIV - Volatility Comparison

The current volatility for AAM S&P 500 High Dividend Value ETF (SPDV) is 3.66%, while Invesco S&P Ultra Dividend Revenue ETF (RDIV) has a volatility of 4.58%. This indicates that SPDV experiences smaller price fluctuations and is considered to be less risky than RDIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPDV	RDIV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.66%	4.58%	-0.92%
Volatility (6M) Calculated over the trailing 6-month period	8.33%	9.01%	-0.68%
Volatility (1Y) Calculated over the trailing 1-year period	12.31%	13.41%	-1.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.25%	17.48%	-1.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.28%	21.89%	-1.61%

SPDV vs. RDIV - Expense Ratio Comparison

SPDV has a 0.29% expense ratio, which is lower than RDIV's 0.39% expense ratio.

Dividends

SPDV vs. RDIV - Dividend Comparison

SPDV's dividend yield for the trailing twelve months is around 3.34%, less than RDIV's 3.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RDIV Invesco S&P Ultra Dividend Revenue ETF	3.72%	3.94%	4.08%	3.93%	3.44%	3.31%	4.93%	3.84%	4.32%	4.26%	2.20%	4.49%
SPDV AAM S&P 500 High Dividend Value ETF	3.34%	3.85%	3.54%	3.95%	3.73%	3.08%	3.90%	3.54%	3.63%	0.28%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPDV and RDIV in my portfolio?

SPDV and RDIV have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPDV or RDIV?

RDIV has higher volatility (4.58%) compared to SPDV (3.66%). In terms of maximum drawdown, SPDV dropped -43.81% vs RDIV's -49.97%.

Which ETF is better, SPDV or RDIV?

On 5-year performance, RDIV leads with 11.36% vs 9.01% for SPDV. On fees, SPDV is cheaper at 0.29% per year. On volatility, SPDV has been the lower-risk option at 3.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPDV or RDIV?

Over the 5-year period, RDIV has performed better with a 11.36% return vs 9.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPDV or RDIV?

SPDV is cheaper with a 0.29% expense ratio, compared with 0.39% for RDIV.

Which ETF pays a higher dividend yield, SPDV or RDIV?

RDIV has the higher dividend yield at 3.72%, compared with 3.34% for SPDV.

What is the main difference between SPDV and RDIV?

SPDV is categorized as Dividend, while RDIV is Mid Cap Value Equities. SPDV tracks S&P 500 Dividend and Free Cash Flow Yield Index, while RDIV tracks S&P 900 Dividend Revenue-Weighted Index. They also come from different issuers: Advisors Asset Management and Invesco. Their fees differ too: 0.29% for SPDV and 0.39% for RDIV.

Which has better risk-adjusted returns?

RDIV currently has the higher Sharpe Ratio (2.15 vs 2.02), 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.