SPHQ vs. BBAI

Last updated Jun 9, 2026

SPHQ (Invesco S&P 500 Quality ETF) is S&P 500 fund tracking the S&P 500 Quality Index, while BBAI (BigBear.ai Holdings, Inc.) is a stock. Over the past 3 years, SPHQ returned 22.07%/yr vs 28.32%/yr for BBAI. At a 0.25 correlation, their price movements are largely independent.

Performance

SPHQ vs. BBAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Quality ETF (SPHQ) and BigBear.ai Holdings, Inc. (BBAI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPHQ achieves a 14.28% return, which is significantly higher than BBAI's -20.19% return.

SPHQ

• 1D: 0.58%
• 1M: 3.64%
• YTD: 14.28%
• 6M: 15.48%
• 1Y: 21.15%
• 3Y*: 22.07%
• 5Y*: 14.25%
• 10Y*: 14.91%

BBAI

• 1D: 2.62%
• 1M: 3.11%
• YTD: -20.19%
• 6M: -34.30%
• 1Y: 11.95%
• 3Y*: 28.32%
• 5Y*: —
• 10Y*: —

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

SPHQ vs. BBAI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SPHQ Invesco S&P 500 Quality ETF	14.28%	13.25%	25.44%	24.83%	-15.76%	2.49%
BBAI BigBear.ai Holdings, Inc.	-20.19%	21.35%	107.94%	217.65%	-88.10%	-35.09%

Correlation

The correlation between SPHQ and BBAI is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (All Time) Calculated using the full available price history since Dec 20, 2021	0.25

The correlation between SPHQ and BBAI shifts across timeframes, from 0.25 (all time) to 0.36 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

SPHQ vs. BBAI — Risk / Return Rank

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

SPHQ

SPHQ Risk / Return Rank: 55
SPHQ Sharpe Ratio Rank: 54
SPHQ Sortino Ratio Rank: 55
SPHQ Omega Ratio Rank: 51
SPHQ Calmar Ratio Rank: 53
SPHQ Martin Ratio Rank: 62

BBAI

BBAI Risk / Return Rank: 49
BBAI Sharpe Ratio Rank: 46
BBAI Sortino Ratio Rank: 55
BBAI Omega Ratio Rank: 51
BBAI Calmar Ratio Rank: 47
BBAI 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.

SPHQ vs. BBAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Quality ETF (SPHQ) and BigBear.ai Holdings, Inc. (BBAI). 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.

	SPHQ	BBAI	Difference
Sharpe ratio: Return per unit of total volatility	1.66	0.12	+1.53
Sortino ratio: Return per unit of downside risk	2.39	1.00	+1.39
Omega ratio: Gain probability vs. loss probability	1.28	1.10	+0.18
Calmar ratio: Return relative to maximum drawdown	2.39	0.18	+2.21
Martin ratio: Return relative to average drawdown	10.19	0.31	+9.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPHQ vs. BBAI - Sharpe Ratio Comparison

The current SPHQ Sharpe Ratio is 1.66, which is higher than the BBAI Sharpe Ratio of 0.12. The chart below compares the historical Sharpe Ratios of SPHQ and BBAI, 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

	SPHQ	BBAI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.66	0.12	+1.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.87	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.84	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	-0.08	+0.61

Drawdowns

SPHQ vs. BBAI - Drawdown Comparison

The maximum SPHQ drawdown since its inception was -57.83%, smaller than the maximum BBAI drawdown of -95.01%. Use the drawdown chart below to compare losses from any high point for SPHQ and BBAI.

Drawdown Indicators

	SPHQ	BBAI	Difference
Max Drawdown Largest peak-to-trough decline	-57.83%	-95.01%	+37.18%
Max Drawdown (1Y) Largest decline over 1 year	-8.90%	-65.88%	+56.98%
Max Drawdown (3Y) Largest decline over 3 years	-16.57%	-75.56%	+58.99%
Max Drawdown (5Y) Largest decline over 5 years	-25.04%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-31.60%	—	—
Current Drawdown Current decline from peak	-1.62%	-66.04%	+64.42%
Average Drawdown Average peak-to-trough decline	-10.70%	-70.87%	+60.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.09%	38.69%	-36.60%

Volatility

SPHQ vs. BBAI - Volatility Comparison

The current volatility for Invesco S&P 500 Quality ETF (SPHQ) is 3.90%, while BigBear.ai Holdings, Inc. (BBAI) has a volatility of 24.69%. This indicates that SPHQ experiences smaller price fluctuations and is considered to be less risky than BBAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPHQ	BBAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.90%	24.69%	-20.79%
Volatility (6M) Calculated over the trailing 6-month period	10.45%	56.30%	-45.85%
Volatility (1Y) Calculated over the trailing 1-year period	12.83%	97.07%	-84.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.48%	174.91%	-158.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.88%	174.91%	-157.03%

Dividends

SPHQ vs. BBAI - Dividend Comparison

SPHQ's dividend yield for the trailing twelve months is around 1.05%, while BBAI has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBAI BigBear.ai Holdings, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPHQ Invesco S&P 500 Quality ETF	1.05%	1.09%	1.15%	1.42%	1.85%	1.19%	1.55%	1.51%	1.85%	1.57%	1.67%	2.29%

Frequently Asked Questions

Can I hold both SPHQ and BBAI in my portfolio?

SPHQ and BBAI have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPHQ or BBAI?

BBAI has higher volatility (24.69%) compared to SPHQ (3.90%). In terms of maximum drawdown, SPHQ dropped -57.83% vs BBAI's -95.01%.

Which has better risk-adjusted returns?

SPHQ currently has the higher Sharpe Ratio (1.66 vs 0.12), 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.