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SPLB vs. SPHD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPLB vs. SPHD

Last updated Jun 4, 2026

SPLB (SPDR Portfolio Long Term Corporate Bond ETF) and SPHD (Invesco S&P 500® High Dividend Low Volatility ETF) are both exchange-traded funds - SPLB is a Corporate Bonds fund tracking the Bloomberg Barclays Long U.S. Corporate Index, while SPHD is a Dividend fund tracking the S&P 500 Low Volatility High Dividend Index. Both are passively managed. Over the past 10 years, SPLB returned 2.23%/yr vs 7.08%/yr for SPHD. At a 0.13 correlation, their price movements are largely independent. SPLB charges 0.07%/yr vs 0.30%/yr for SPHD.

Performance

SPLB vs. SPHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio Long Term Corporate Bond ETF (SPLB) and Invesco S&P 500® High Dividend Low Volatility ETF (SPHD). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SPLB achieves a 0.92% return, which is significantly lower than SPHD's 4.38% return. Over the past 10 years, SPLB has underperformed SPHD with an annualized return of 2.23%, while SPHD has yielded a comparatively higher 7.08% annualized return.

SPLB

1D
-0.36%
1M
1.50%
YTD
0.92%
6M
-0.06%
1Y
7.56%
3Y*
4.35%
5Y*
-1.84%
10Y*
2.23%

SPHD

1D
-0.89%
1M
-0.82%
YTD
4.38%
6M
4.63%
1Y
8.12%
3Y*
11.42%
5Y*
5.48%
10Y*
7.08%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SPLB vs. SPHD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SPLB
SPDR Portfolio Long Term Corporate Bond ETF		0.92%7.05%-1.74%11.20%-25.68%-1.99%13.47%23.49%-7.35%12.26%
SPHD
Invesco S&P 500® High Dividend Low Volatility ETF		4.38%3.41%18.08%1.32%0.58%24.98%-9.98%20.26%-6.17%11.90%

Correlation

The correlation between SPLB and SPHD is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.29

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

0.35

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

0.29

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

0.20

Correlation (All Time)
Calculated using the full available price history since Oct 31, 2012

0.13

The correlation between SPLB and SPHD shifts across timeframes, from 0.13 (all time) to 0.35 (3 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.

SPDR Portfolio Long Term Corporate Bond ETF

Invesco S&P 500® High Dividend Low Volatility ETF

Often compared with SPLB:
SPLB vs. VCLTSPLB vs. SPIBSPLB vs. IGLBSPLB vs. BABSPLB vs. SPHYSPLB vs. CMBSSPLB vs. TLT
Often compared with SPHD:
SPHD vs. SCHDSPHD vs. JEPISPHD vs. SPYDSPHD vs. VYMSPHD vs. SPYSPHD vs. SPLVSPHD vs. VOO

Return for Risk

SPLB vs. SPHD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPLB
SPLB Risk / Return Rank: 2626
Overall Rank
SPLB Sharpe Ratio Rank: 2626
Sharpe Ratio Rank
SPLB Sortino Ratio Rank: 2525
Sortino Ratio Rank
SPLB Omega Ratio Rank: 2424
Omega Ratio Rank
SPLB Calmar Ratio Rank: 2929
Calmar Ratio Rank
SPLB Martin Ratio Rank: 2525
Martin Ratio Rank
SPHD
SPHD Risk / Return Rank: 2121
Overall Rank
SPHD Sharpe Ratio Rank: 2121
Sharpe Ratio Rank
SPHD Sortino Ratio Rank: 2121
Sortino Ratio Rank
SPHD Omega Ratio Rank: 1919
Omega Ratio Rank
SPHD Calmar Ratio Rank: 2323
Calmar Ratio Rank
SPHD Martin Ratio Rank: 2222
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.

SPLB vs. SPHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Long Term Corporate Bond ETF (SPLB) and Invesco S&P 500® High Dividend Low Volatility ETF (SPHD). 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.

SPLBSPHDDifference
Sharpe ratioReturn per unit of total volatility
0.94
0.74

+0.21

Sortino ratioReturn per unit of downside risk
1.39
1.15

+0.24

Omega ratioGain probability vs. loss probability

1.16

1.13

+0.04

Calmar ratioReturn relative to maximum drawdown

1.40

1.11

+0.29

Martin ratioReturn relative to average drawdown

3.48

2.78

+0.70

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPLB vs. SPHD - Sharpe Ratio Comparison

The current SPLB Sharpe Ratio is 0.94, which is comparable to the SPHD Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of SPLB and SPHD, 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

SPLBSPHDDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.94

0.74

+0.21

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.15

0.39

-0.53

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.17

0.40

-0.23

Sharpe Ratio (All Time)

Calculated using the full available price history

0.45

0.58

-0.13

Drawdowns

SPLB vs. SPHD - Drawdown Comparison

The maximum SPLB drawdown since its inception was -34.46%, smaller than the maximum SPHD drawdown of -41.39%. Use the drawdown chart below to compare losses from any high point for SPLB and SPHD.

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Drawdown Indicators

SPLBSPHDDifference

Max Drawdown

Largest peak-to-trough decline

-34.46%

-41.39%

+6.93%

Max Drawdown (1Y)

Largest decline over 1 year

-5.42%

-7.33%

+1.91%

Max Drawdown (3Y)

Largest decline over 3 years

-12.91%

-13.29%

+0.38%

Max Drawdown (5Y)

Largest decline over 5 years

-34.46%

-19.50%

-14.96%

Max Drawdown (10Y)

Largest decline over 10 years

-34.46%

-41.39%

+6.93%

Current Drawdown

Current decline from peak

-14.53%

-5.37%

-9.16%

Average Drawdown

Average peak-to-trough decline

-8.01%

-4.70%

-3.31%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.18%

2.93%

-0.75%

Volatility

SPLB vs. SPHD - Volatility Comparison

The current volatility for SPDR Portfolio Long Term Corporate Bond ETF (SPLB) is 2.36%, while Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) has a volatility of 2.99%. This indicates that SPLB experiences smaller price fluctuations and is considered to be less risky than SPHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SPLBSPHDDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.36%

2.99%

-0.63%

Volatility (6M)

Calculated over the trailing 6-month period

5.81%

7.55%

-1.74%

Volatility (1Y)

Calculated over the trailing 1-year period

8.05%

11.04%

-2.99%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.71%

14.16%

-1.45%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

12.95%

17.64%

-4.69%

SPLB vs. SPHD - Expense Ratio Comparison

SPLB has a 0.07% expense ratio, which is lower than SPHD's 0.30% expense ratio.

Dividends

SPLB vs. SPHD - Dividend Comparison

SPLB's dividend yield for the trailing twelve months is around 5.38%, more than SPHD's 4.62% yield.

PositionTTM20252024202320222021202020192018201720162015
SPHD
Invesco S&P 500® High Dividend Low Volatility ETF		4.62%4.02%3.41%4.48%3.89%3.45%4.89%4.07%4.40%3.14%3.83%3.49%
SPLB
SPDR Portfolio Long Term Corporate Bond ETF		5.38%5.25%5.20%4.60%4.53%3.00%3.01%3.79%4.50%4.06%4.34%4.70%

Frequently Asked Questions

SPLB and SPHD have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SPHD has higher volatility (2.99%) compared to SPLB (2.36%). In terms of maximum drawdown, SPLB dropped -34.46% vs SPHD's -41.39%.

On 10-year performance, SPHD leads with 7.08% vs 2.23% for SPLB. On fees, SPLB is cheaper at 0.07% per year. On volatility, SPLB has been the lower-risk option at 2.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SPHD has performed better with a 7.08% return vs 2.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SPLB is cheaper with a 0.07% expense ratio, compared with 0.30% for SPHD.

SPLB has the higher dividend yield at 5.38%, compared with 4.62% for SPHD.

SPLB is categorized as Corporate Bonds, while SPHD is Dividend. SPLB tracks Bloomberg Barclays Long U.S. Corporate Index, while SPHD tracks S&P 500 Low Volatility High Dividend Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.07% for SPLB and 0.30% for SPHD.

SPLB currently has the higher Sharpe Ratio (0.94 vs 0.74), 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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