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SPHQ vs. EUHY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPHQ vs. EUHY

Last updated Jun 9, 2026

SPHQ (Invesco S&P 500 Quality ETF) and EUHY (iShares Euro High Yield Corporate Bond USD Hedged ETF) are both exchange-traded funds - SPHQ is a S&P 500 fund tracking the S&P 500 Quality Index, while EUHY is a High Yield Bonds fund tracking the BBG Pan-European High Yield (Euro) Total Return 100% USD Hedged Index. Both are passively managed. Over the past 10 years, SPHQ returned 14.91%/yr vs 3.68%/yr for EUHY. At a 0.31 correlation, their price movements are largely independent. SPHQ charges 0.15%/yr vs 0.35%/yr for EUHY.

Performance

SPHQ vs. EUHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Quality ETF (SPHQ) and iShares Euro High Yield Corporate Bond USD Hedged ETF (EUHY). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SPHQ achieves a 14.28% return, which is significantly higher than EUHY's 1.70% return. Over the past 10 years, SPHQ has outperformed EUHY with an annualized return of 14.91%, while EUHY has yielded a comparatively lower 3.68% annualized 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%

EUHY

1D
-0.12%
1M
0.05%
YTD
1.70%
6M
2.27%
1Y
5.47%
3Y*
9.44%
5Y*
1.82%
10Y*
3.68%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SPHQ vs. EUHY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SPHQ
Invesco S&P 500 Quality ETF		14.28%13.25%25.44%24.83%-15.76%28.03%17.36%33.64%-7.10%19.10%
EUHY
iShares Euro High Yield Corporate Bond USD Hedged ETF		1.70%17.41%-0.55%16.06%-15.59%-3.78%10.69%8.60%-7.71%19.68%

Correlation

The correlation between SPHQ and EUHY is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.46

Correlation (3Y)
Calculated over the trailing 3-year period

0.39

Correlation (5Y)
Calculated over the trailing 5-year period

0.47

Correlation (10Y)
Calculated over the trailing 10-year period

0.38

Correlation (All Time)
Calculated using the full available price history since Apr 4, 2012

0.31

The correlation between SPHQ and EUHY shifts across timeframes, from 0.31 (all time) to 0.47 (5 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco S&P 500 Quality ETF

iShares Euro High Yield Corporate Bond USD Hedged ETF

Often compared with SPHQ:
SPHQ vs. QUALSPHQ vs. VOOSPHQ vs. SPYSPHQ vs. JQUASPHQ vs. SCHDSPHQ vs. SPYVSPHQ vs. QQQ
Often compared with EUHY:
EUHY vs. XHYHEUHY vs. LDRHEUHY vs. USHYEUHY vs. IBHDEUHY vs. SGOVEUHY vs. IWMEUHY vs. THY

Return for Risk

SPHQ vs. EUHY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPHQ
SPHQ Risk / Return Rank: 5555
Overall Rank
SPHQ Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
SPHQ Sortino Ratio Rank: 5555
Sortino Ratio Rank
SPHQ Omega Ratio Rank: 5151
Omega Ratio Rank
SPHQ Calmar Ratio Rank: 5353
Calmar Ratio Rank
SPHQ Martin Ratio Rank: 6262
Martin Ratio Rank
EUHY
EUHY Risk / Return Rank: 3131
Overall Rank
EUHY Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
EUHY Sortino Ratio Rank: 2929
Sortino Ratio Rank
EUHY Omega Ratio Rank: 3131
Omega Ratio Rank
EUHY Calmar Ratio Rank: 3535
Calmar Ratio Rank
EUHY Martin Ratio Rank: 2929
Martin Ratio Rank
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. EUHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Quality ETF (SPHQ) and iShares Euro High Yield Corporate Bond USD Hedged ETF (EUHY). 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.

SPHQEUHYDifference
Sharpe ratioReturn per unit of total volatility
1.66
1.00

+0.66

Sortino ratioReturn per unit of downside risk
2.39
1.45

+0.95

Omega ratioGain probability vs. loss probability

1.28

1.19

+0.09

Calmar ratioReturn relative to maximum drawdown

2.39

1.57

+0.82

Martin ratioReturn relative to average drawdown

10.19

3.75

+6.44

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. EUHY - Sharpe Ratio Comparison

The current SPHQ Sharpe Ratio is 1.66, which is higher than the EUHY Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of SPHQ and EUHY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

SPHQEUHYDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.66

1.00

+0.66

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.87

0.18

+0.69

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.84

0.35

+0.48

Sharpe Ratio (All Time)

Calculated using the full available price history

0.53

0.34

+0.19

Drawdowns

SPHQ vs. EUHY - Drawdown Comparison

The maximum SPHQ drawdown since its inception was -57.83%, which is greater than EUHY's maximum drawdown of -32.45%. Use the drawdown chart below to compare losses from any high point for SPHQ and EUHY.

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Drawdown Indicators

SPHQEUHYDifference

Max Drawdown

Largest peak-to-trough decline

-57.83%

-32.45%

-25.38%

Max Drawdown (1Y)

Largest decline over 1 year

-8.90%

-3.50%

-5.40%

Max Drawdown (3Y)

Largest decline over 3 years

-16.57%

-8.23%

-8.34%

Max Drawdown (5Y)

Largest decline over 5 years

-25.04%

-32.45%

+7.41%

Max Drawdown (10Y)

Largest decline over 10 years

-31.60%

-32.45%

+0.85%

Current Drawdown

Current decline from peak

-1.62%

-0.38%

-1.24%

Average Drawdown

Average peak-to-trough decline

-10.70%

-8.58%

-2.12%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.09%

1.46%

+0.63%

Volatility

SPHQ vs. EUHY - Volatility Comparison

Invesco S&P 500 Quality ETF (SPHQ) has a higher volatility of 3.90% compared to iShares Euro High Yield Corporate Bond USD Hedged ETF (EUHY) at 1.03%. This indicates that SPHQ's price experiences larger fluctuations and is considered to be riskier than EUHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SPHQEUHYDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.90%

1.03%

+2.87%

Volatility (6M)

Calculated over the trailing 6-month period

10.45%

2.89%

+7.56%

Volatility (1Y)

Calculated over the trailing 1-year period

12.83%

5.51%

+7.32%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.48%

10.00%

+6.48%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.88%

10.42%

+7.46%

SPHQ vs. EUHY - Expense Ratio Comparison

SPHQ has a 0.15% expense ratio, which is lower than EUHY's 0.35% expense ratio.

Dividends

SPHQ vs. EUHY - Dividend Comparison

SPHQ's dividend yield for the trailing twelve months is around 1.05%, less than EUHY's 5.35% yield.

PositionTTM20252024202320222021202020192018201720162015
EUHY
iShares Euro High Yield Corporate Bond USD Hedged ETF		5.35%3.56%5.11%3.38%0.61%3.07%1.45%1.19%4.01%0.69%1.70%3.24%
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

SPHQ and EUHY have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SPHQ has higher volatility (3.90%) compared to EUHY (1.03%). In terms of maximum drawdown, SPHQ dropped -57.83% vs EUHY's -32.45%.

On 10-year performance, SPHQ leads with 14.91% vs 3.68% for EUHY. On fees, SPHQ is cheaper at 0.15% per year. On volatility, EUHY has been the lower-risk option at 1.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SPHQ has performed better with a 14.91% return vs 3.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SPHQ is cheaper with a 0.15% expense ratio, compared with 0.35% for EUHY.

EUHY has the higher dividend yield at 5.35%, compared with 1.05% for SPHQ.

SPHQ is categorized as S&P 500, while EUHY is High Yield Bonds. SPHQ tracks S&P 500 Quality Index, while EUHY tracks BBG Pan-European High Yield (Euro) Total Return 100% USD Hedged Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.15% for SPHQ and 0.35% for EUHY.

SPHQ currently has the higher Sharpe Ratio (1.66 vs 1.00), 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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