SPLV vs. FDV

Last updated Jul 15, 2026

SPLV (Invesco S&P 500 Low Volatility ETF) and FDV (Federated Hermes U.S. Strategic Dividend ETF) are both exchange-traded funds - SPLV is a S&P 500 fund tracking the S&P 500 Low Volatility Index, while FDV is a Large Cap Value Equities fund actively managed by Federated. SPLV is passively managed, while FDV is actively managed. Their correlation of 0.89 suggests significant overlap in exposure. SPLV charges 0.25%/yr vs 0.50%/yr for FDV.

Performance

SPLV vs. FDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Low Volatility ETF (SPLV) and Federated Hermes U.S. Strategic Dividend ETF (FDV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SPLV

• 1D: -0.65%
• 1M: 2.13%
• 6M: 6.43%
• YTD: 7.47%
• 1Y: 6.49%
• 3Y*: 8.78%
• 5Y*: 6.17%
• 10Y*: 8.08%

FDV

• 1D: -0.71%
• 1M: 0.09%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPLV vs. FDV - Yearly Performance Comparison

	2026 (YTD)
SPLV Invesco S&P 500 Low Volatility ETF	3.21%
FDV Federated Hermes U.S. Strategic Dividend ETF	2.27%

Correlation

The correlation between SPLV and FDV is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 22, 2026	0.89

Return for Risk

SPLV vs. FDV — Risk / Return Rank

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

SPLV

SPLV Risk / Return Rank: 21
SPLV Sharpe Ratio Rank: 22
SPLV Sortino Ratio Rank: 20
SPLV Omega Ratio Rank: 19
SPLV Calmar Ratio Rank: 23
SPLV Martin Ratio Rank: 21

FDV

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

SPLV vs. FDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Low Volatility ETF (SPLV) and Federated Hermes U.S. Strategic Dividend ETF (FDV). 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.

	SPLV	FDV	Difference
Sharpe ratio: Return per unit of total volatility	0.62	—	—
Sortino ratio: Return per unit of downside risk	0.95	—	—
Omega ratio: Gain probability vs. loss probability	1.11	—	—
Calmar ratio: Return relative to maximum drawdown	0.88	—	—
Martin ratio: Return relative to average drawdown	2.02	—	—

Drawdowns

SPLV vs. FDV - Drawdown Comparison

The maximum SPLV drawdown since its inception was -36.26%, which is greater than FDV's maximum drawdown of -3.33%. Use the drawdown chart below to compare losses from any high point for SPLV and FDV.

Drawdown Indicators

	SPLV	FDV	Difference
Max Drawdown Largest peak-to-trough decline	-36.26%	-3.33%	-32.93%
Max Drawdown (1Y) Largest decline over 1 year	-7.41%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-9.64%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-17.26%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-36.26%	—	—
Current Drawdown Current decline from peak	-1.31%	-0.99%	-0.32%
Average Drawdown Average peak-to-trough decline	-3.55%	-1.07%	-2.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.22%	—	—

Volatility

Volatility by Period

	SPLV	FDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.19%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.86%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.52%	13.22%	-2.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.57%	13.22%	-0.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.40%	13.22%	+2.18%

SPLV vs. FDV - Expense Ratio Comparison

SPLV has a 0.25% expense ratio, which is lower than FDV's 0.50% expense ratio.

Dividends

SPLV vs. FDV - Dividend Comparison

SPLV's dividend yield for the trailing twelve months is around 2.11%, more than FDV's 0.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDV Federated Hermes U.S. Strategic Dividend ETF	0.57%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPLV Invesco S&P 500 Low Volatility ETF	2.11%	2.04%	1.88%	2.45%	2.11%	1.51%	2.12%	2.08%	2.18%	2.03%	2.03%	2.28%

Frequently Asked Questions

Can I hold both SPLV and FDV in my portfolio?

SPLV and FDV have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPLV or FDV?

On fees, SPLV is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPLV or FDV?

SPLV is cheaper with a 0.25% expense ratio, compared with 0.50% for FDV.

Which ETF pays a higher dividend yield, SPLV or FDV?

SPLV has the higher dividend yield at 2.11%, compared with 0.57% for FDV.

What is the main difference between SPLV and FDV?

SPLV is categorized as S&P 500, while FDV is Large Cap Value Equities. They also come from different issuers: Invesco and Federated. Their fees differ too: 0.25% for SPLV and 0.50% for FDV.