SPHB vs. VGT

Last updated Jul 17, 2026

SPHB (Invesco S&P 500® High Beta ETF) and VGT (Vanguard Information Technology ETF) are both exchange-traded funds - SPHB is a S&P 500 fund tracking the S&P 500 High Beta Index, while VGT is a Technology Equities fund tracking the MSCI USA IMI Information Technology 25/50 Index. Both are passively managed. Over the past 10 years, SPHB returned 17.97%/yr vs 24.44%/yr for VGT. A 0.77 correlation means they provide meaningful diversification when combined. SPHB charges 0.25%/yr vs 0.09%/yr for VGT.

Performance

SPHB vs. VGT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500® High Beta ETF (SPHB) and Vanguard Information Technology ETF (VGT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with SPHB having a 22.58% return and VGT slightly lower at 21.52%. Over the past 10 years, SPHB has underperformed VGT with an annualized return of 17.97%, while VGT has yielded a comparatively higher 24.44% annualized return.

SPHB

• 1D: -2.57%
• 1M: -5.80%
• 6M: 16.23%
• YTD: 22.58%
• 1Y: 42.99%
• 3Y*: 22.56%
• 5Y*: 16.19%
• 10Y*: 17.97%

VGT

• 1D: -1.94%
• 1M: -2.91%
• 6M: 20.62%
• YTD: 21.52%
• 1Y: 35.18%
• 3Y*: 26.94%
• 5Y*: 18.62%
• 10Y*: 24.44%

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

SPHB vs. VGT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPHB Invesco S&P 500® High Beta ETF	22.58%	32.87%	8.48%	33.28%	-20.59%	40.58%	25.56%	33.96%	-15.55%	17.87%
VGT Vanguard Information Technology ETF	21.52%	21.77%	29.30%	52.66%	-29.70%	30.45%	46.04%	48.62%	2.46%	37.08%

Correlation

The correlation between SPHB and VGT is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since May 5, 2011	0.77

The correlation between SPHB and VGT shifts across timeframes, from 0.76 (10 years) to 0.87 (5 years), reflecting how their relationship changes across market environments.

SPHB vs. VGT - Sectors Allocation Comparison

Sectors	SPHB	VGT
Technology	43.7%	98.5%
Financial Services	14.5%	0.5%
Industrials	13.1%	0.3%
Consumer Cyclical	9.9%	0.1%
Healthcare	6.2%	0.0%
Utilities	3.2%	-
Basic Materials	2.4%	0.0%
Communication Services	1.7%	0.6%
Consumer Defensive	0.9%	-
Energy	0.8%	0.3%
Real Estate	-	-

Return for Risk

SPHB vs. VGT — Risk / Return Rank

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

SPHB

SPHB Risk / Return Rank: 71
SPHB Sharpe Ratio Rank: 65
SPHB Sortino Ratio Rank: 58
SPHB Omega Ratio Rank: 58
SPHB Calmar Ratio Rank: 88
SPHB Martin Ratio Rank: 86

VGT

VGT Risk / Return Rank: 50
VGT Sharpe Ratio Rank: 55
VGT Sortino Ratio Rank: 49
VGT Omega Ratio Rank: 49
VGT Calmar Ratio Rank: 53
VGT Martin Ratio Rank: 46

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.

SPHB vs. VGT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500® High Beta ETF (SPHB) and Vanguard Information Technology ETF (VGT). 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.

	SPHB	VGT	Difference
Sharpe ratio: Return per unit of total volatility	1.70	1.51	+0.20
Sortino ratio: Return per unit of downside risk	2.24	2.01	+0.23
Omega ratio: Gain probability vs. loss probability	1.29	1.26	+0.03
Calmar ratio: Return relative to maximum drawdown	4.04	2.16	+1.88
Martin ratio: Return relative to average drawdown	13.78	6.19	+7.59

SPHB vs. VGT - Sharpe Ratio Comparison

The current SPHB Sharpe Ratio is 1.70, which is comparable to the VGT Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of SPHB and VGT, 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

SPHB vs. VGT - Drawdown Comparison

The maximum SPHB drawdown since its inception was -46.84%, smaller than the maximum VGT drawdown of -54.63%. Use the drawdown chart below to compare losses from any high point for SPHB and VGT.

Drawdown Indicators

	SPHB	VGT	Difference
Max Drawdown Largest peak-to-trough decline	-46.84%	-54.63%	+7.79%
Max Drawdown (1Y) Largest decline over 1 year	-10.70%	-16.40%	+5.70%
Max Drawdown (3Y) Largest decline over 3 years	-29.21%	-27.23%	-1.98%
Max Drawdown (5Y) Largest decline over 5 years	-31.49%	-35.07%	+3.58%
Max Drawdown (10Y) Largest decline over 10 years	-46.84%	-35.07%	-11.77%
Current Drawdown Current decline from peak	-8.83%	-9.06%	+0.23%
Average Drawdown Average peak-to-trough decline	-8.47%	-7.94%	-0.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.13%	5.70%	-2.57%

Volatility

SPHB vs. VGT - Volatility Comparison

Invesco S&P 500® High Beta ETF (SPHB) has a higher volatility of 9.80% compared to Vanguard Information Technology ETF (VGT) at 8.66%. This indicates that SPHB's price experiences larger fluctuations and is considered to be riskier than VGT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPHB	VGT	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.80%	8.66%	+1.14%
Volatility (6M) Calculated over the trailing 6-month period	20.89%	19.53%	+1.36%
Volatility (1Y) Calculated over the trailing 1-year period	25.35%	23.44%	+1.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.83%	25.70%	+2.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.51%	24.81%	+3.70%

SPHB vs. VGT - Expense Ratio Comparison

SPHB has a 0.25% expense ratio, which is higher than VGT's 0.09% 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

SPHB vs. VGT - Dividend Comparison

SPHB's dividend yield for the trailing twelve months is around 0.57%, more than VGT's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPHB Invesco S&P 500® High Beta ETF	0.57%	0.60%	0.80%	0.73%	0.72%	0.91%	1.90%	1.26%	1.96%	1.34%	0.93%	1.69%
VGT Vanguard Information Technology ETF	0.38%	0.40%	0.60%	0.65%	0.91%	0.64%	0.82%	1.11%	1.29%	0.99%	1.31%	1.28%

Frequently Asked Questions

Can I hold both SPHB and VGT in my portfolio?

SPHB and VGT have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPHB or VGT?

SPHB has higher volatility (9.80%) compared to VGT (8.66%). In terms of maximum drawdown, SPHB dropped -46.84% vs VGT's -54.63%.

Which ETF is better, SPHB or VGT?

On 10-year performance, VGT leads with 24.44% vs 17.97% for SPHB. On fees, VGT is cheaper at 0.09% per year. On volatility, VGT has been the lower-risk option at 8.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPHB or VGT?

Over the 10-year period, VGT has performed better with a 24.44% return vs 17.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPHB or VGT?

VGT is cheaper with a 0.09% expense ratio, compared with 0.25% for SPHB.

Which ETF pays a higher dividend yield, SPHB or VGT?

SPHB has the higher dividend yield at 0.57%, compared with 0.38% for VGT.

What is the main difference between SPHB and VGT?

SPHB is categorized as S&P 500, while VGT is Technology Equities. SPHB tracks S&P 500 High Beta Index, while VGT tracks MSCI USA IMI Information Technology 25/50 Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.25% for SPHB and 0.09% for VGT.

Which has better risk-adjusted returns?

SPHB currently has the higher Sharpe Ratio (1.70 vs 1.51), 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.