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SPLV vs. IYH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPLV vs. IYH

Last updated Jun 16, 2026

SPLV (Invesco S&P 500 Low Volatility ETF) and IYH (iShares U.S. Healthcare ETF) are both exchange-traded funds - SPLV is a S&P 500 fund tracking the S&P 500 Low Volatility Index, while IYH is a Health & Biotech Equities fund tracking the Dow Jones U.S. Health Care Index. Both are passively managed. Over the past 10 years, SPLV returned 8.33%/yr vs 9.63%/yr for IYH. A 0.70 correlation means they provide meaningful diversification when combined. SPLV charges 0.25%/yr vs 0.43%/yr for IYH.

Performance

SPLV vs. IYH - Performance Comparison

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

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Returns By Period

In the year-to-date period, SPLV achieves a 4.85% return, which is significantly higher than IYH's -1.10% return. Over the past 10 years, SPLV has underperformed IYH with an annualized return of 8.33%, while IYH has yielded a comparatively higher 9.63% annualized return.

SPLV

1D
-0.36%
1M
2.76%
YTD
4.85%
6M
4.17%
1Y
4.71%
3Y*
8.01%
5Y*
6.29%
10Y*
8.33%

IYH

1D
-0.46%
1M
5.37%
YTD
-1.10%
6M
-1.60%
1Y
14.30%
3Y*
6.09%
5Y*
4.89%
10Y*
9.63%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SPLV vs. IYH - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SPLV
Invesco S&P 500 Low Volatility ETF		4.85%4.10%13.93%0.53%-4.88%24.13%-1.39%27.87%-0.19%17.32%
IYH
iShares U.S. Healthcare ETF		-1.10%13.16%2.99%2.14%-4.46%23.41%15.56%20.80%5.80%22.27%

Correlation

The correlation between SPLV and IYH is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.49

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

0.62

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

0.70

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

0.68

Correlation (All Time)
Calculated using the full available price history since May 5, 2011

0.70

Over the past year, the correlation between SPLV and IYH has dropped to 0.49 - well below their long-term average of 0.70, suggesting their price drivers have been diverging.

SPLV vs. IYH - Sectors Allocation Comparison

Sectors
SPLV
IYH

Utilities

24.9%

-

Financial Services

21.3%

-

Real Estate

17.8%

-

Industrials

12.2%

-

Consumer Defensive

9.4%

-

Healthcare

4.0%
100.0%

Consumer Cyclical

4.0%

-

Energy

2.7%

-

Basic Materials

2.1%

-

Technology

0.8%

-

Communication Services

0.8%

-

Utilities

SPLV
24.9%
IYH

-

Financial Services

SPLV
21.3%
IYH

-

Real Estate

SPLV
17.8%
IYH

-

Industrials

SPLV
12.2%
IYH

-

Consumer Defensive

SPLV
9.4%
IYH

-

Healthcare

SPLV
4.0%
IYH
100.0%

Consumer Cyclical

SPLV
4.0%
IYH

-

Energy

SPLV
2.7%
IYH

-

Basic Materials

SPLV
2.1%
IYH

-

Technology

SPLV
0.8%
IYH

-

Communication Services

SPLV
0.8%
IYH

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco S&P 500 Low Volatility ETF

iShares U.S. Healthcare ETF

Often compared with SPLV:
SPLV vs. USMVSPLV vs. SPYSPLV vs. SPHBSPLV vs. VOOSPLV vs. SPHDSPLV vs. JEPISPLV vs. DGRW
Often compared with IYH:
IYH vs. VHTIYH vs. XLVIYH vs. SPYIYH vs. IYEIYH vs. IFRAIYH vs. BMEDIYH vs. IBB

Return for Risk

SPLV vs. IYH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPLV
SPLV Risk / Return Rank: 1717
Overall Rank
SPLV Sharpe Ratio Rank: 1717
Sharpe Ratio Rank
SPLV Sortino Ratio Rank: 1616
Sortino Ratio Rank
SPLV Omega Ratio Rank: 1515
Omega Ratio Rank
SPLV Calmar Ratio Rank: 1818
Calmar Ratio Rank
SPLV Martin Ratio Rank: 1717
Martin Ratio Rank
IYH
IYH Risk / Return Rank: 2929
Overall Rank
IYH Sharpe Ratio Rank: 2929
Sharpe Ratio Rank
IYH Sortino Ratio Rank: 3030
Sortino Ratio Rank
IYH Omega Ratio Rank: 2727
Omega Ratio Rank
IYH Calmar Ratio Rank: 3030
Calmar Ratio Rank
IYH Martin Ratio Rank: 2626
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.

SPLV vs. IYH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Low Volatility ETF (SPLV) and iShares U.S. Healthcare ETF (IYH). 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.

SPLVIYHDifference
Sharpe ratioReturn per unit of total volatility
0.47
0.95

-0.48

Sortino ratioReturn per unit of downside risk
0.73
1.53

-0.80

Omega ratioGain probability vs. loss probability

1.08

1.17

-0.09

Calmar ratioReturn relative to maximum drawdown

0.64

1.35

-0.71

Martin ratioReturn relative to average drawdown

1.50

3.21

-1.71

SPLV vs. IYH - Sharpe Ratio Comparison

The current SPLV Sharpe Ratio is 0.47, which is lower than the IYH Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of SPLV and IYH, 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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Drawdowns

SPLV vs. IYH - Drawdown Comparison

The maximum SPLV drawdown since its inception was -36.26%, smaller than the maximum IYH drawdown of -43.12%. Use the drawdown chart below to compare losses from any high point for SPLV and IYH.

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Drawdown Indicators

SPLVIYHDifference

Max Drawdown

Largest peak-to-trough decline

-36.26%

-43.12%

+6.86%

Max Drawdown (1Y)

Largest decline over 1 year

-7.41%

-10.64%

+3.23%

Max Drawdown (3Y)

Largest decline over 3 years

-9.64%

-17.91%

+8.27%

Max Drawdown (5Y)

Largest decline over 5 years

-17.26%

-17.91%

+0.65%

Max Drawdown (10Y)

Largest decline over 10 years

-36.26%

-28.40%

-7.86%

Current Drawdown

Current decline from peak

-3.66%

-4.38%

+0.72%

Average Drawdown

Average peak-to-trough decline

-3.55%

-8.96%

+5.41%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.15%

4.46%

-1.31%

Volatility

SPLV vs. IYH - Volatility Comparison

The current volatility for Invesco S&P 500 Low Volatility ETF (SPLV) is 4.03%, while iShares U.S. Healthcare ETF (IYH) has a volatility of 4.97%. This indicates that SPLV experiences smaller price fluctuations and is considered to be less risky than IYH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SPLVIYHDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.03%

4.97%

-0.94%

Volatility (6M)

Calculated over the trailing 6-month period

7.20%

10.61%

-3.41%

Volatility (1Y)

Calculated over the trailing 1-year period

10.08%

15.11%

-5.03%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.51%

14.97%

-2.46%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.38%

16.75%

-1.37%

SPLV vs. IYH - Expense Ratio Comparison

SPLV has a 0.25% expense ratio, which is lower than IYH's 0.43% expense ratio.

Dividends

SPLV vs. IYH - Dividend Comparison

SPLV's dividend yield for the trailing twelve months is around 2.15%, more than IYH's 1.51% yield.

PositionTTM20252024202320222021202020192018201720162015
IYH
iShares U.S. Healthcare ETF		1.51%1.19%1.25%1.18%1.10%0.94%1.16%1.14%1.95%1.10%1.29%2.02%
SPLV
Invesco S&P 500 Low Volatility ETF		2.15%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

SPLV and IYH have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IYH has higher volatility (4.97%) compared to SPLV (4.03%). In terms of maximum drawdown, SPLV dropped -36.26% vs IYH's -43.12%.

On 10-year performance, IYH leads with 9.63% vs 8.33% for SPLV. On fees, SPLV is cheaper at 0.25% per year. On volatility, SPLV has been the lower-risk option at 4.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IYH has performed better with a 9.63% return vs 8.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SPLV is cheaper with a 0.25% expense ratio, compared with 0.43% for IYH.

SPLV has the higher dividend yield at 2.15%, compared with 1.51% for IYH.

SPLV is categorized as S&P 500, while IYH is Health & Biotech Equities. SPLV tracks S&P 500 Low Volatility Index, while IYH tracks Dow Jones U.S. Health Care Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.25% for SPLV and 0.43% for IYH.

IYH currently has the higher Sharpe Ratio (0.95 vs 0.47), 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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