SPHD vs. DGRE

Last updated Jun 4, 2026

SPHD (Invesco S&P 500® High Dividend Low Volatility ETF) and DGRE (WisdomTree Emerging Markets Quality Dividend Growth Fund) are both exchange-traded funds - SPHD is a Dividend fund tracking the S&P 500 Low Volatility High Dividend Index, while DGRE is a Emerging Markets Equities fund actively managed by WisdomTree. SPHD is passively managed, while DGRE is actively managed. Over the past 10 years, SPHD returned 7.08%/yr vs 9.71%/yr for DGRE. At a 0.45 correlation, their price movements are largely independent. SPHD charges 0.30%/yr vs 0.32%/yr for DGRE.

Performance

SPHD vs. DGRE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) and WisdomTree Emerging Markets Quality Dividend Growth Fund (DGRE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPHD achieves a 4.38% return, which is significantly lower than DGRE's 31.30% return. Over the past 10 years, SPHD has underperformed DGRE with an annualized return of 7.08%, while DGRE has yielded a comparatively higher 9.71% annualized return.

SPHD

• 1D: -0.89%
• 1M: -0.82%
• YTD: 4.38%
• 6M: 4.63%
• 1Y: 8.12%
• 3Y*: 11.42%
• 5Y*: 5.48%
• 10Y*: 7.08%

DGRE

• 1D: -0.94%
• 1M: 8.34%
• YTD: 31.30%
• 6M: 36.66%
• 1Y: 58.03%
• 3Y*: 24.56%
• 5Y*: 8.61%
• 10Y*: 9.71%

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

SPHD vs. DGRE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPHD Invesco S&P 500® High Dividend Low Volatility ETF	4.38%	3.41%	18.08%	1.32%	0.58%	24.98%	-9.98%	20.26%	-6.17%	11.90%
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund	31.30%	27.47%	3.63%	18.46%	-21.86%	2.55%	10.85%	21.12%	-16.36%	33.61%

Correlation

The correlation between SPHD and DGRE is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (10Y) Calculated over the trailing 10-year period	0.41
Correlation (All Time) Calculated using the full available price history since Aug 2, 2013	0.45

Over the past year, the correlation between SPHD and DGRE has dropped to 0.22 - well below their long-term average of 0.45, suggesting their price drivers have been diverging.

SPHD vs. DGRE - Sectors Allocation Comparison

Sectors	SPHD	DGRE
Real Estate	20.1%	0.3%
Consumer Defensive	17.8%	2.3%
Financial Services	15.6%	11.8%
Energy	14.1%	1.1%
Utilities	13.7%	0.9%
Communication Services	8.6%	0.8%
Healthcare	5.1%	2.6%
Consumer Cyclical	3.4%	2.7%
Technology	1.5%	38.6%
Industrials	0.0%	7.8%
Basic Materials	-	4.4%

Return for Risk

SPHD vs. DGRE — Risk / Return Rank

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

SPHD

SPHD Risk / Return Rank: 21
SPHD Sharpe Ratio Rank: 21
SPHD Sortino Ratio Rank: 21
SPHD Omega Ratio Rank: 19
SPHD Calmar Ratio Rank: 23
SPHD Martin Ratio Rank: 22

DGRE

DGRE Risk / Return Rank: 84
DGRE Sharpe Ratio Rank: 87
DGRE Sortino Ratio Rank: 82
DGRE Omega Ratio Rank: 85
DGRE Calmar Ratio Rank: 81
DGRE Martin Ratio Rank: 84

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.

SPHD vs. DGRE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) and WisdomTree Emerging Markets Quality Dividend Growth Fund (DGRE). 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.

	SPHD	DGRE	Difference
Sharpe ratio: Return per unit of total volatility	0.74	2.91	-2.17
Sortino ratio: Return per unit of downside risk	1.15	3.72	-2.57
Omega ratio: Gain probability vs. loss probability	1.13	1.52	-0.39
Calmar ratio: Return relative to maximum drawdown	1.11	4.26	-3.15
Martin ratio: Return relative to average drawdown	2.78	17.40	-14.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPHD vs. DGRE - Sharpe Ratio Comparison

The current SPHD Sharpe Ratio is 0.74, which is lower than the DGRE Sharpe Ratio of 2.91. The chart below compares the historical Sharpe Ratios of SPHD and DGRE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SPHD	DGRE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.74	2.91	-2.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	0.48	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	0.50	-0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.32	+0.26

Drawdowns

SPHD vs. DGRE - Drawdown Comparison

The maximum SPHD drawdown since its inception was -41.39%, which is greater than DGRE's maximum drawdown of -36.95%. Use the drawdown chart below to compare losses from any high point for SPHD and DGRE.

Drawdown Indicators

	SPHD	DGRE	Difference
Max Drawdown Largest peak-to-trough decline	-41.39%	-36.95%	-4.44%
Max Drawdown (1Y) Largest decline over 1 year	-7.33%	-13.68%	+6.35%
Max Drawdown (3Y) Largest decline over 3 years	-13.29%	-20.65%	+7.36%
Max Drawdown (5Y) Largest decline over 5 years	-19.50%	-34.82%	+15.32%
Max Drawdown (10Y) Largest decline over 10 years	-41.39%	-36.95%	-4.44%
Current Drawdown Current decline from peak	-5.37%	-0.94%	-4.43%
Average Drawdown Average peak-to-trough decline	-4.70%	-12.00%	+7.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.93%	3.34%	-0.41%

Volatility

SPHD vs. DGRE - Volatility Comparison

The current volatility for Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) is 2.99%, while WisdomTree Emerging Markets Quality Dividend Growth Fund (DGRE) has a volatility of 8.88%. This indicates that SPHD experiences smaller price fluctuations and is considered to be less risky than DGRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPHD	DGRE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.99%	8.88%	-5.89%
Volatility (6M) Calculated over the trailing 6-month period	7.55%	17.97%	-10.42%
Volatility (1Y) Calculated over the trailing 1-year period	11.04%	20.08%	-9.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.16%	18.11%	-3.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.64%	19.64%	-2.00%

SPHD vs. DGRE - Expense Ratio Comparison

SPHD has a 0.30% expense ratio, which is lower than DGRE's 0.32% expense ratio.

Dividends

SPHD vs. DGRE - Dividend Comparison

SPHD's dividend yield for the trailing twelve months is around 4.62%, more than DGRE's 1.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund	1.18%	1.65%	1.90%	2.22%	4.38%	2.56%	2.11%	2.32%	2.71%	3.12%	3.18%	3.01%
SPHD Invesco S&P 500® High Dividend Low Volatility ETF	4.62%	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

Can I hold both SPHD and DGRE in my portfolio?

SPHD and DGRE have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPHD or DGRE?

DGRE has higher volatility (8.88%) compared to SPHD (2.99%). In terms of maximum drawdown, SPHD dropped -41.39% vs DGRE's -36.95%.

Which ETF is better, SPHD or DGRE?

On 10-year performance, DGRE leads with 9.71% vs 7.08% for SPHD. On fees, SPHD is cheaper at 0.30% per year. On volatility, SPHD has been the lower-risk option at 2.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPHD or DGRE?

Over the 10-year period, DGRE has performed better with a 9.71% return vs 7.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPHD or DGRE?

SPHD is cheaper with a 0.30% expense ratio, compared with 0.32% for DGRE.

Which ETF pays a higher dividend yield, SPHD or DGRE?

SPHD has the higher dividend yield at 4.62%, compared with 1.18% for DGRE.

What is the main difference between SPHD and DGRE?

SPHD is categorized as Dividend, while DGRE is Emerging Markets Equities. They also come from different issuers: Invesco and WisdomTree. Their fees differ too: 0.30% for SPHD and 0.32% for DGRE.

Which has better risk-adjusted returns?

DGRE currently has the higher Sharpe Ratio (2.91 vs 0.74), 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.