SPHQ vs. RECS

Last updated Jul 14, 2026

SPHQ (Invesco S&P 500 Quality ETF) and RECS (Columbia Research Enhanced Core ETF) are both exchange-traded funds - SPHQ is a S&P 500 fund tracking the S&P 500 Quality Index, while RECS is a Large Cap Growth Equities fund tracking the Beta Advantage Research Enhanced U.S. Equity Index. Both are passively managed. Over the past 10 years, SPHQ returned 14.76%/yr vs 10.05%/yr for RECS. At a 0.46 correlation, their price movements are largely independent. Both charge a 0.15% expense ratio.

Performance

SPHQ vs. RECS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Quality ETF (SPHQ) and Columbia Research Enhanced Core ETF (RECS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPHQ achieves a 16.39% return, which is significantly higher than RECS's 8.18% return. Over the past 10 years, SPHQ has outperformed RECS with an annualized return of 14.76%, while RECS has yielded a comparatively lower 10.05% annualized return.

SPHQ

• 1D: -1.48%
• 1M: -0.34%
• 6M: 12.52%
• YTD: 16.39%
• 1Y: 23.43%
• 3Y*: 20.91%
• 5Y*: 13.45%
• 10Y*: 14.76%

RECS

• 1D: -0.59%
• 1M: 2.10%
• 6M: 6.53%
• YTD: 8.18%
• 1Y: 20.17%
• 3Y*: 20.39%
• 5Y*: 13.60%
• 10Y*: 10.05%

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

SPHQ vs. RECS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPHQ Invesco S&P 500 Quality ETF	16.39%	13.25%	25.44%	24.83%	-15.76%	28.03%	17.36%	33.64%	-7.10%	19.10%
RECS Columbia Research Enhanced Core ETF	8.18%	19.30%	26.27%	23.19%	-14.39%	32.73%	15.35%	-0.93%	0.00%	0.00%

Correlation

The correlation between SPHQ and RECS is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Dec 6, 2005	0.46

Over the past year, SPHQ and RECS have become more correlated (0.75) than their long-term average of 0.46, meaning their price movements have been converging.

SPHQ vs. RECS - Sectors Allocation Comparison

Sectors	SPHQ	RECS
Technology	40.1%	36.5%
Financial Services	16.1%	11.9%
Industrials	12.6%	6.6%
Consumer Defensive	7.9%	4.6%
Consumer Cyclical	5.6%	10.3%
Utilities	4.5%	2.2%
Communication Services	3.9%	10.9%
Basic Materials	3.5%	2.2%
Healthcare	3.3%	9.0%
Energy	1.0%	3.6%
Real Estate	-	2.3%

Return for Risk

SPHQ vs. RECS — Risk / Return Rank

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

SPHQ

SPHQ Risk / Return Rank: 65
SPHQ Sharpe Ratio Rank: 63
SPHQ Sortino Ratio Rank: 64
SPHQ Omega Ratio Rank: 59
SPHQ Calmar Ratio Rank: 66
SPHQ Martin Ratio Rank: 74

RECS

RECS Risk / Return Rank: 63
RECS Sharpe Ratio Rank: 65
RECS Sortino Ratio Rank: 64
RECS Omega Ratio Rank: 62
RECS Calmar Ratio Rank: 57
RECS Martin Ratio Rank: 67

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. RECS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Quality ETF (SPHQ) and Columbia Research Enhanced Core ETF (RECS). 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.

	SPHQ	RECS	Difference
Sharpe ratio: Return per unit of total volatility	1.66	1.68	-0.02
Sortino ratio: Return per unit of downside risk	2.36	2.36	0.00
Omega ratio: Gain probability vs. loss probability	1.29	1.30	-0.01
Calmar ratio: Return relative to maximum drawdown	2.65	2.30	+0.35
Martin ratio: Return relative to average drawdown	10.96	9.56	+1.41

SPHQ vs. RECS - Sharpe Ratio Comparison

The current SPHQ Sharpe Ratio is 1.66, which is comparable to the RECS Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of SPHQ and RECS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SPHQ vs. RECS - Drawdown Comparison

The maximum SPHQ drawdown since its inception was -57.83%, which is greater than RECS's maximum drawdown of -34.29%. Use the drawdown chart below to compare losses from any high point for SPHQ and RECS.

Drawdown Indicators

	SPHQ	RECS	Difference
Max Drawdown Largest peak-to-trough decline	-57.83%	-34.29%	-23.54%
Max Drawdown (1Y) Largest decline over 1 year	-8.90%	-8.82%	-0.08%
Max Drawdown (3Y) Largest decline over 3 years	-16.57%	-18.60%	+2.03%
Max Drawdown (5Y) Largest decline over 5 years	-25.04%	-22.08%	-2.96%
Max Drawdown (10Y) Largest decline over 10 years	-31.60%	-34.29%	+2.69%
Current Drawdown Current decline from peak	-3.64%	-0.59%	-3.05%
Average Drawdown Average peak-to-trough decline	-10.65%	-1.28%	-9.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.14%	2.11%	+0.03%

Volatility

SPHQ vs. RECS - Volatility Comparison

Invesco S&P 500 Quality ETF (SPHQ) has a higher volatility of 6.97% compared to Columbia Research Enhanced Core ETF (RECS) at 3.38%. This indicates that SPHQ's price experiences larger fluctuations and is considered to be riskier than RECS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPHQ	RECS	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.97%	3.38%	+3.59%
Volatility (6M) Calculated over the trailing 6-month period	12.15%	9.46%	+2.69%
Volatility (1Y) Calculated over the trailing 1-year period	14.22%	12.09%	+2.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.72%	16.43%	+0.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.95%	16.27%	+1.68%

SPHQ vs. RECS - Expense Ratio Comparison

Both SPHQ and RECS have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

SPHQ vs. RECS - Dividend Comparison

SPHQ's dividend yield for the trailing twelve months is around 1.07%, more than RECS's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RECS Columbia Research Enhanced Core ETF	1.03%	1.11%	1.09%	1.00%	1.41%	20.64%	1.09%	0.49%	0.00%	0.00%	0.00%	0.00%
SPHQ Invesco S&P 500 Quality ETF	1.07%	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 RECS in my portfolio?

SPHQ and RECS have a correlation of 0.75, 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 RECS?

SPHQ has higher volatility (6.97%) compared to RECS (3.38%). In terms of maximum drawdown, SPHQ dropped -57.83% vs RECS's -34.29%.

Which ETF is better, SPHQ or RECS?

On 10-year performance, SPHQ leads with 14.76% vs 10.05% for RECS. Both ETFs have the same 0.15% expense ratio. On volatility, RECS has been the lower-risk option at 3.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPHQ or RECS?

Over the 10-year period, SPHQ has performed better with a 14.76% return vs 10.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPHQ or RECS?

SPHQ and RECS have the same expense ratio: 0.15% per year.

Which ETF pays a higher dividend yield, SPHQ or RECS?

SPHQ has the higher dividend yield at 1.07%, compared with 1.03% for RECS.

What is the main difference between SPHQ and RECS?

SPHQ is categorized as S&P 500, while RECS is Large Cap Growth Equities. SPHQ tracks S&P 500 Quality Index, while RECS tracks Beta Advantage Research Enhanced U.S. Equity Index. They also come from different issuers: Invesco and Ameriprise Financial.

Which has better risk-adjusted returns?

RECS currently has the higher Sharpe Ratio (1.68 vs 1.66), 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.