SPHD vs. FVD
SPHD (Invesco S&P 500® High Dividend Low Volatility ETF) and FVD (First Trust Value Line Dividend Index Fund) are both exchange-traded funds - SPHD is a Dividend fund tracking the S&P 500 Low Volatility High Dividend Index, while FVD is a Mid Cap Value Equities fund tracking the Value Line Dividend Index. Both are passively managed. Over the past 10 years, SPHD returned 7.55%/yr vs 8.71%/yr for FVD. Their correlation of 0.91 suggests significant overlap in exposure. SPHD charges 0.30%/yr vs 0.61%/yr for FVD.
Performance
SPHD vs. FVD - Performance Comparison
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Returns By Period
In the year-to-date period, SPHD achieves a 8.15% return, which is significantly higher than FVD's 4.96% return. Over the past 10 years, SPHD has underperformed FVD with an annualized return of 7.55%, while FVD has yielded a comparatively higher 8.71% annualized return.
SPHD
- 1D
- -0.04%
- 1M
- 0.78%
- YTD
- 8.15%
- 6M
- 7.75%
- 1Y
- 11.57%
- 3Y*
- 12.69%
- 5Y*
- 6.90%
- 10Y*
- 7.55%
FVD
- 1D
- 0.50%
- 1M
- 0.42%
- YTD
- 4.96%
- 6M
- 4.21%
- 1Y
- 9.79%
- 3Y*
- 9.31%
- 5Y*
- 6.04%
- 10Y*
- 8.71%
SPHD vs. FVD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 8.15% | 3.41% | 18.08% | 1.32% | 0.58% | 24.98% | -9.98% | 20.26% | -6.17% | 11.90% |
FVD First Trust Value Line Dividend Index Fund | 4.96% | 8.16% | 10.04% | 4.11% | -5.18% | 25.08% | -0.02% | 26.58% | -3.49% | 12.51% |
Correlation
The correlation between SPHD and FVD is 0.89, 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 | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2012 | 0.91 |
The correlation between SPHD and FVD has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.
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Return for Risk
SPHD vs. FVD — Risk / Return Rank
SPHD
FVD
SPHD vs. FVD - 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 First Trust Value Line Dividend Index Fund (FVD). 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.
| SPHD | FVD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.17 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | 1.36 | +0.23 |
| Martin ratioReturn relative to average drawdown | 3.89 | 3.48 | +0.41 |
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Drawdowns
SPHD vs. FVD - Drawdown Comparison
The maximum SPHD drawdown since its inception was -41.39%, smaller than the maximum FVD drawdown of -51.00%. Use the drawdown chart below to compare losses from any high point for SPHD and FVD.
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Drawdown Indicators
| SPHD | FVD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.39% | -51.00% | +9.61% |
Max Drawdown (1Y)Largest decline over 1 year | -7.33% | -7.23% | -0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -13.29% | -11.97% | -1.32% |
Max Drawdown (5Y)Largest decline over 5 years | -19.50% | -16.41% | -3.09% |
Max Drawdown (10Y)Largest decline over 10 years | -41.39% | -35.25% | -6.14% |
Current DrawdownCurrent decline from peak | -1.95% | -3.43% | +1.48% |
Average DrawdownAverage peak-to-trough decline | -4.69% | -5.44% | +0.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.99% | 2.82% | +0.17% |
Volatility
SPHD vs. FVD - Volatility Comparison
Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) has a higher volatility of 4.23% compared to First Trust Value Line Dividend Index Fund (FVD) at 3.28%. This indicates that SPHD's price experiences larger fluctuations and is considered to be riskier than FVD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPHD | FVD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.23% | 3.28% | +0.95% |
Volatility (6M)Calculated over the trailing 6-month period | 8.10% | 7.13% | +0.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.45% | 9.71% | +1.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.16% | 12.77% | +1.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.64% | 15.44% | +2.20% |
SPHD vs. FVD - Expense Ratio Comparison
SPHD has a 0.30% expense ratio, which is lower than FVD's 0.61% expense ratio.
Dividends
SPHD vs. FVD - Dividend Comparison
SPHD's dividend yield for the trailing twelve months is around 4.60%, more than FVD's 2.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FVD First Trust Value Line Dividend Index Fund | 2.25% | 2.36% | 2.23% | 2.34% | 2.20% | 1.75% | 2.31% | 2.03% | 2.50% | 2.10% | 2.04% | 2.34% |
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
SPHD and FVD have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPHD has higher volatility (4.23%) compared to FVD (3.28%). In terms of maximum drawdown, SPHD dropped -41.39% vs FVD's -51.00%.
On 10-year performance, FVD leads with 8.71% vs 7.55% for SPHD. On fees, SPHD is cheaper at 0.30% per year. On volatility, FVD has been the lower-risk option at 3.28%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FVD has performed better with a 8.71% return vs 7.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPHD is cheaper with a 0.30% expense ratio, compared with 0.61% for FVD.
SPHD has the higher dividend yield at 4.60%, compared with 2.25% for FVD.
SPHD is categorized as Dividend, while FVD is Mid Cap Value Equities. SPHD tracks S&P 500 Low Volatility High Dividend Index, while FVD tracks Value Line Dividend Index. They also come from different issuers: Invesco and First Trust. Their fees differ too: 0.30% for SPHD and 0.61% for FVD.
SPHD currently has the higher Sharpe Ratio (1.02 vs 1.01), 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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