SPHQ vs. ROE

Last updated Aug 4, 2026

SPHQ (Invesco S&P 500 Quality ETF) and ROE (Astoria US Equal Weight Quality Kings ETF) are both Quality Factor funds. SPHQ is passively managed, while ROE is actively managed. Over the past 3 years, SPHQ returned 19.92%/yr vs 21.23%/yr for ROE. Their correlation of 0.88 means they have usually moved in the same direction. SPHQ charges 0.15%/yr vs 0.49%/yr for ROE.

Performance

SPHQ vs. ROE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Quality ETF (SPHQ) and Astoria US Equal Weight Quality Kings ETF (ROE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPHQ achieves a 14.14% return, which is significantly lower than ROE's 21.52% return.

SPHQ

• 1D: 0.56%
• 1M: -3.11%
• 6M: 8.93%
• YTD: 14.14%
• 1Y: 21.69%
• 3Y*: 19.92%
• 5Y*: 12.81%
• 10Y*: 14.58%
• ALL TIME*: 10.03%

ROE

• 1D: 0.98%
• 1M: 1.61%
• 6M: 15.98%
• YTD: 21.52%
• 1Y: 34.66%
• 3Y*: 21.23%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 20.65%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ROE Astoria US Equal Weight Quality Kings ETF	$1.14M	$1.17M	$931.17K
SPHQ Invesco S&P 500 Quality ETF	$121.34M	$134.31M	$144.70M

SPHQ vs. ROE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SPHQ Invesco S&P 500 Quality ETF	14.14%	13.25%	25.44%	4.03%
ROE Astoria US Equal Weight Quality Kings ETF	21.52%	17.20%	18.34%	4.31%

Correlation

The correlation between SPHQ and ROE is 0.88, 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.	0.88
Correlation (3Y) Balances recent behavior with more history.	0.88
Correlation (All Time) Calculated using the full available price history since Aug 1, 2023	0.88

The correlation between SPHQ and ROE has been stable across timeframes, ranging from 0.88 to 0.88 - a consistent structural relationship.

SPHQ vs. ROE - Sectors Allocation Comparison

Sectors	SPHQ	ROE
Technology	41.2%	33.9%
Industrials	17.7%	9.0%
Financial Services	15.2%	11.9%
Consumer Defensive	7.5%	4.9%
Communication Services	6.4%	11.1%
Consumer Cyclical	5.3%	11.0%
Utilities	4.5%	2.0%
Healthcare	3.2%	10.2%
Basic Materials	2.5%	1.0%
Energy	1.0%	2.9%
Real Estate	-	2.0%

Return for Risk

SPHQ vs. ROE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SPHQ

SPHQ Risk / Return Rank: 65
SPHQ Sharpe Ratio Rank: 64
SPHQ Sortino Ratio Rank: 65
SPHQ Omega Ratio Rank: 59
SPHQ Calmar Ratio Rank: 69
SPHQ Martin Ratio Rank: 69

ROE

ROE Risk / Return Rank: 90
ROE Sharpe Ratio Rank: 90
ROE Sortino Ratio Rank: 88
ROE Omega Ratio Rank: 87
ROE Calmar Ratio Rank: 90
ROE Martin Ratio Rank: 93

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SPHQ vs. ROE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Quality ETF (SPHQ) and Astoria US Equal Weight Quality Kings ETF (ROE). 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	ROE	Difference
Sharpe ratio: Return per unit of total volatility	1.51	2.32	-0.81
Sortino ratio: Return per unit of downside risk	2.17	3.09	-0.92
Omega ratio: Gain probability vs. loss probability	1.26	1.40	-0.14
Calmar ratio: Return relative to maximum drawdown	2.45	4.02	-1.57
Martin ratio: Return relative to average drawdown	8.64	17.11	-8.47

SPHQ vs. ROE - Sharpe Ratio Comparison

The current SPHQ Sharpe Ratio is 1.51, which is lower than the ROE Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of SPHQ and ROE, 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. ROE - Drawdown Comparison

The maximum SPHQ drawdown since its inception was -57.83%, which is greater than ROE's maximum drawdown of -19.10%. Use the drawdown chart below to compare losses from any high point for SPHQ and ROE.

Drawdown Indicators

	SPHQ	ROE	Difference
Max Drawdown Largest peak-to-trough decline	-57.83%	-19.10%	-38.73%
Max Drawdown (1Y) Largest decline over 1 year	-8.90%	-8.66%	-0.24%
Max Drawdown (3Y) Largest decline over 3 years	-16.57%	-19.10%	+2.53%
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	-5.50%	-0.34%	-5.16%
Average Drawdown Average peak-to-trough decline	-10.64%	-2.54%	-8.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.52%	2.03%	+0.49%

Volatility

SPHQ vs. ROE - Volatility Comparison

Invesco S&P 500 Quality ETF (SPHQ) has a higher volatility of 4.77% compared to Astoria US Equal Weight Quality Kings ETF (ROE) at 3.61%. This indicates that SPHQ's price experiences larger fluctuations and is considered to be riskier than ROE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPHQ	ROE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.77%	3.61%	+1.16%
Volatility (6M) Calculated over the trailing 6-month period	12.37%	11.74%	+0.63%
Volatility (1Y) Calculated over the trailing 1-year period	14.51%	15.05%	-0.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.74%	15.87%	+0.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.98%	15.87%	+2.11%

SPHQ vs. ROE - Expense Ratio Comparison

SPHQ has a 0.15% expense ratio, which is lower than ROE's 0.49% expense ratio.

Dividends

SPHQ vs. ROE - Dividend Comparison

SPHQ's dividend yield for the trailing twelve months is around 1.10%, more than ROE's 1.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ROE Astoria US Equal Weight Quality Kings ETF	1.00%	0.97%	1.18%	0.68%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPHQ Invesco S&P 500 Quality ETF	1.10%	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 ROE in my portfolio?

SPHQ and ROE have a correlation of 0.88, 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 ROE?

SPHQ has higher volatility (4.77%) compared to ROE (3.61%). In terms of maximum drawdown, SPHQ dropped -57.83% vs ROE's -19.10%.

Which ETF is better, SPHQ or ROE?

On 3-year performance, ROE leads with 21.23% vs 19.92% for SPHQ. On fees, SPHQ is cheaper at 0.15% per year. On volatility, ROE has been the lower-risk option at 3.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPHQ or ROE?

Over the 3-year period, ROE has performed better with a 21.23% return vs 19.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPHQ or ROE?

SPHQ is cheaper with a 0.15% expense ratio, compared with 0.49% for ROE.

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

SPHQ has the higher dividend yield at 1.10%, compared with 1.00% for ROE.

What is the main difference between SPHQ and ROE?

They also come from different issuers: Invesco and Astoria. Their fees differ too: 0.15% for SPHQ and 0.49% for ROE.

Which has better risk-adjusted returns?

ROE currently has the higher Sharpe Ratio (2.32 vs 1.50), 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.