SPHD vs. LVHD
SPHD (Invesco S&P 500® High Dividend Low Volatility ETF) and LVHD (Franklin U.S. Low Volatility High Dividend Index ETF) are both Dividend funds - SPHD tracks the S&P 500 Low Volatility High Dividend Index while LVHD tracks the Franklin U.S. Low Volatility High Dividend Index. Both are passively managed. Over the past 10 years, SPHD returned 7.33%/yr vs 8.29%/yr for LVHD. Their correlation of 0.91 means they have usually moved in the same direction. SPHD charges 0.30%/yr vs 0.27%/yr for LVHD.
Performance
SPHD vs. LVHD - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with SPHD having a 13.31% return and LVHD slightly higher at 13.89%. Over the past 10 years, SPHD has underperformed LVHD with an annualized return of 7.33%, while LVHD has yielded a comparatively higher 8.29% annualized return.
SPHD
- 1D
- 0.49%
- 1M
- 1.81%
- 6M
- 7.45%
- YTD
- 13.31%
- 1Y
- 15.40%
- 3Y*
- 12.94%
- 5Y*
- 8.21%
- 10Y*
- 7.33%
- ALL TIME*
- 9.89%
LVHD
- 1D
- 0.28%
- 1M
- -0.29%
- 6M
- 6.64%
- YTD
- 13.89%
- 1Y
- 14.10%
- 3Y*
- 10.58%
- 5Y*
- 7.41%
- 10Y*
- 8.29%
- ALL TIME*
- 9.18%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.99M | $2.45M | $2.90M | |
| $46.34M | $45.63M | $42.52M |
SPHD vs. LVHD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 13.31% | 3.41% | 18.08% | 1.32% | 0.58% | 24.98% | -9.98% | 20.26% | -6.17% | 11.90% |
LVHD Franklin U.S. Low Volatility High Dividend Index ETF | 13.89% | 7.50% | 10.18% | -0.95% | -1.82% | 26.90% | -1.28% | 22.91% | -5.58% | 14.25% |
Correlation
The correlation between SPHD and LVHD is 0.92, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.92 |
Correlation (3Y) Balances recent behavior with more history. | 0.93 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.93 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.92 |
Correlation (All Time) Calculated using the full available price history since Dec 29, 2015 | 0.91 |
The correlation between SPHD and LVHD has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.
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Return for Risk
SPHD vs. LVHD — Risk / Return Rank
SPHD
LVHD
SPHD vs. LVHD - 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 Franklin U.S. Low Volatility High Dividend Index ETF (LVHD). 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 | LVHD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.23 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.11 | 2.30 | -0.19 |
| Martin ratioReturn relative to average drawdown | 5.26 | 5.67 | -0.41 |
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Drawdowns
SPHD vs. LVHD - Drawdown Comparison
The maximum SPHD drawdown since its inception was -41.39%, which is greater than LVHD's maximum drawdown of -37.32%. Use the drawdown chart below to compare losses from any high point for SPHD and LVHD.
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Drawdown Indicators
| SPHD | LVHD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.39% | -37.32% | -4.07% |
Max Drawdown (1Y)Largest decline over 1 year | -7.33% | -6.17% | -1.16% |
Max Drawdown (3Y)Largest decline over 3 years | -13.29% | -11.87% | -1.42% |
Max Drawdown (5Y)Largest decline over 5 years | -19.50% | -16.75% | -2.75% |
Max Drawdown (10Y)Largest decline over 10 years | -41.39% | -37.32% | -4.07% |
Current DrawdownCurrent decline from peak | -1.34% | -1.85% | +0.51% |
Average DrawdownAverage peak-to-trough decline | -4.66% | -4.00% | -0.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.94% | 2.50% | +0.44% |
Volatility
SPHD vs. LVHD - Volatility Comparison
Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) and Franklin U.S. Low Volatility High Dividend Index ETF (LVHD) have volatilities of 4.27% and 4.13%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPHD | LVHD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.27% | 4.13% | +0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 9.01% | 8.31% | +0.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.79% | 10.51% | +1.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.23% | 13.04% | +1.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.67% | 15.58% | +2.09% |
SPHD vs. LVHD - Expense Ratio Comparison
SPHD has a 0.30% expense ratio, which is higher than LVHD's 0.27% expense ratio.
Dividends
SPHD vs. LVHD - Dividend Comparison
SPHD's dividend yield for the trailing twelve months is around 4.52%, more than LVHD's 3.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LVHD Franklin U.S. Low Volatility High Dividend Index ETF | 3.19% | 3.35% | 4.23% | 3.55% | 3.30% | 2.56% | 3.27% | 3.30% | 3.82% | 3.33% | 2.48% | 0.00% |
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 4.52% | 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
With a correlation of 0.92, SPHD and LVHD move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
SPHD has higher volatility (4.27%) compared to LVHD (4.13%). In terms of maximum drawdown, SPHD dropped -41.39% vs LVHD's -37.32%.
On 10-year performance, LVHD leads with 8.29% vs 7.33% for SPHD. On fees, LVHD is cheaper at 0.27% per year. On volatility, LVHD has been the lower-risk option at 4.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, LVHD has performed better with a 8.29% return vs 7.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LVHD is cheaper with a 0.27% expense ratio, compared with 0.30% for SPHD.
SPHD has the higher dividend yield at 4.52%, compared with 3.19% for LVHD.
SPHD tracks S&P 500 Low Volatility High Dividend Index, while LVHD tracks Franklin U.S. Low Volatility High Dividend Index. They also come from different issuers: Invesco and Franklin Templeton. Their fees differ too: 0.30% for SPHD and 0.27% for LVHD.
LVHD currently has the higher Sharpe Ratio (1.35 vs 1.32), 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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