SPHQ vs. VOO

Last updated Jun 23, 2026

SPHQ (Invesco S&P 500 Quality ETF) and VOO (Vanguard S&P 500 ETF) are both S&P 500 funds - SPHQ tracks the S&P 500 Quality Index while VOO tracks the S&P 500 Index. Both are passively managed. Over the past 10 years, SPHQ returned 15.81%/yr vs 15.77%/yr for VOO. Their correlation of 0.93 suggests significant overlap in exposure. SPHQ charges 0.15%/yr vs 0.03%/yr for VOO.

Performance

SPHQ vs. VOO - Performance Comparison

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

Returns By Period

In the year-to-date period, SPHQ achieves a 20.05% return, which is significantly higher than VOO's 9.75% return. Both investments have delivered pretty close results over the past 10 years, with SPHQ having a 15.81% annualized return and VOO not far behind at 15.77%.

SPHQ

• 1D: 0.44%
• 1M: 6.04%
• YTD: 20.05%
• 6M: 18.67%
• 1Y: 31.26%
• 3Y*: 23.56%
• 5Y*: 15.01%
• 10Y*: 15.81%

VOO

• 1D: -0.29%
• 1M: 0.08%
• YTD: 9.75%
• 6M: 9.30%
• 1Y: 26.77%
• 3Y*: 21.36%
• 5Y*: 13.58%
• 10Y*: 15.77%

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

SPHQ vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPHQ Invesco S&P 500 Quality ETF	20.05%	13.25%	25.44%	24.83%	-15.76%	28.03%	17.36%	33.64%	-7.10%	19.10%
VOO Vanguard S&P 500 ETF	9.75%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Correlation

The correlation between SPHQ and VOO is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010	0.93

The correlation between SPHQ and VOO shifts across timeframes, from 0.81 (1 year) to 0.93 (10 years), reflecting how their relationship changes across market environments.

SPHQ vs. VOO - Sectors Allocation Comparison

Sectors	SPHQ	VOO
Technology	32.0%	39.1%
Industrials	22.7%	7.6%
Consumer Defensive	14.4%	4.5%
Financial Services	12.4%	10.9%
Healthcare	8.0%	8.3%
Consumer Cyclical	4.4%	9.8%
Communication Services	2.5%	10.5%
Basic Materials	2.1%	1.7%
Utilities	0.9%	2.5%
Energy	0.6%	3.2%
Real Estate	-	1.8%

Return for Risk

SPHQ vs. VOO — Risk / Return Rank

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

SPHQ

SPHQ Risk / Return Rank: 77
SPHQ Sharpe Ratio Rank: 78
SPHQ Sortino Ratio Rank: 81
SPHQ Omega Ratio Rank: 73
SPHQ Calmar Ratio Rank: 72
SPHQ Martin Ratio Rank: 80

VOO

VOO Risk / Return Rank: 68
VOO Sharpe Ratio Rank: 70
VOO Sortino Ratio Rank: 67
VOO Omega Ratio Rank: 69
VOO Calmar Ratio Rank: 63
VOO Martin Ratio Rank: 74

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. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Quality ETF (SPHQ) and Vanguard S&P 500 ETF (VOO). 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	VOO	Difference
Sharpe ratio: Return per unit of total volatility	2.40	2.17	+0.22
Sortino ratio: Return per unit of downside risk	3.41	2.93	+0.48
Omega ratio: Gain probability vs. loss probability	1.41	1.39	+0.02
Calmar ratio: Return relative to maximum drawdown	3.53	3.02	+0.51
Martin ratio: Return relative to average drawdown	15.17	13.58	+1.59

SPHQ vs. VOO - Sharpe Ratio Comparison

The current SPHQ Sharpe Ratio is 2.40, which is comparable to the VOO Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of SPHQ and VOO, 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. VOO - Drawdown Comparison

The maximum SPHQ drawdown since its inception was -57.83%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for SPHQ and VOO.

Drawdown Indicators

	SPHQ	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-57.83%	-33.99%	-23.84%
Max Drawdown (1Y) Largest decline over 1 year	-8.90%	-8.90%	0.00%
Max Drawdown (3Y) Largest decline over 3 years	-16.57%	-18.69%	+2.12%
Max Drawdown (5Y) Largest decline over 5 years	-25.04%	-24.52%	-0.52%
Max Drawdown (10Y) Largest decline over 10 years	-31.60%	-33.99%	+2.39%
Current Drawdown Current decline from peak	0.00%	-1.74%	+1.74%
Average Drawdown Average peak-to-trough decline	-10.68%	-3.68%	-7.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.07%	1.98%	+0.09%

Volatility

SPHQ vs. VOO - Volatility Comparison

Invesco S&P 500 Quality ETF (SPHQ) has a higher volatility of 4.85% compared to Vanguard S&P 500 ETF (VOO) at 4.60%. This indicates that SPHQ's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPHQ	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.85%	4.60%	+0.25%
Volatility (6M) Calculated over the trailing 6-month period	10.87%	9.73%	+1.14%
Volatility (1Y) Calculated over the trailing 1-year period	13.13%	12.39%	+0.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.54%	16.90%	-0.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.92%	18.05%	-0.13%

SPHQ vs. VOO - Expense Ratio Comparison

SPHQ has a 0.15% expense ratio, which is higher than VOO's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SPHQ vs. VOO - Dividend Comparison

SPHQ's dividend yield for the trailing twelve months is around 1.23%, more than VOO's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPHQ Invesco S&P 500 Quality ETF	1.23%	1.09%	1.15%	1.42%	1.85%	1.19%	1.55%	1.51%	1.85%	1.57%	1.67%	2.29%
VOO Vanguard S&P 500 ETF	1.04%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both SPHQ and VOO in my portfolio?

SPHQ and VOO have a correlation of 0.81, 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 VOO?

SPHQ has higher volatility (4.85%) compared to VOO (4.60%). In terms of maximum drawdown, SPHQ dropped -57.83% vs VOO's -33.99%.

Which ETF is better, SPHQ or VOO?

On 10-year performance, SPHQ leads with 15.81% vs 15.77% for VOO. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 4.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPHQ or VOO?

Over the 10-year period, SPHQ has performed better with a 15.81% return vs 15.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPHQ or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.15% for SPHQ.

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

SPHQ has the higher dividend yield at 1.23%, compared with 1.04% for VOO.

What is the main difference between SPHQ and VOO?

SPHQ tracks S&P 500 Quality Index, while VOO tracks S&P 500 Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.15% for SPHQ and 0.03% for VOO.

Which has better risk-adjusted returns?

SPHQ currently has the higher Sharpe Ratio (2.40 vs 2.17), 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.