SPLV vs. SPHD
Compare and contrast key facts about Invesco S&P 500® Low Volatility ETF (SPLV) and Invesco S&P 500® High Dividend Low Volatility ETF (SPHD).
SPLV and SPHD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPLV is a passively managed fund by Invesco that tracks the performance of the S&P 500 Low Volatility Index. It was launched on May 5, 2011. SPHD is a passively managed fund by Invesco that tracks the performance of the S&P Low Volatility High Dividend index. It was launched on Oct 18, 2012. Both SPLV and SPHD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SPLV or SPHD.
Key characteristics
| SPLV | SPHD | |
|---|---|---|
| YTD Return | 18.88% | 21.69% |
| 1Y Return | 25.22% | 35.78% |
| 3Y Return (Ann) | 6.73% | 8.91% |
| 5Y Return (Ann) | 7.32% | 7.60% |
| 10Y Return (Ann) | 9.47% | 8.82% |
| Sharpe Ratio | 2.72 | 3.02 |
| Sortino Ratio | 3.80 | 4.38 |
| Omega Ratio | 1.50 | 1.56 |
| Calmar Ratio | 2.32 | 2.04 |
| Martin Ratio | 18.19 | 21.68 |
| Ulcer Index | 1.38% | 1.61% |
| Daily Std Dev | 9.24% | 11.52% |
| Max Drawdown | -36.26% | -41.39% |
| Current Drawdown | -0.30% | -1.70% |
Correlation
The correlation between SPLV and SPHD is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
SPLV vs. SPHD - Performance Comparison
In the year-to-date period, SPLV achieves a 18.88% return, which is significantly lower than SPHD's 21.69% return. Over the past 10 years, SPLV has outperformed SPHD with an annualized return of 9.47%, while SPHD has yielded a comparatively lower 8.82% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SPLV vs. SPHD - Expense Ratio Comparison
SPLV has a 0.25% expense ratio, which is lower than SPHD's 0.30% expense ratio.
Risk-Adjusted Performance
SPLV vs. SPHD - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500® Low Volatility ETF (SPLV) 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.
Dividends
SPLV vs. SPHD - Dividend Comparison
SPLV's dividend yield for the trailing twelve months is around 1.89%, less than SPHD's 3.40% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPLV Invesco S&P 500® Low Volatility ETF | 1.89% | 2.45% | 2.11% | 1.50% | 2.13% | 2.08% | 2.17% | 2.03% | 2.03% | 2.28% | 2.20% | 2.60% |
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 3.40% | 4.48% | 3.89% | 3.46% | 4.89% | 4.07% | 4.40% | 3.14% | 3.83% | 3.49% | 3.24% | 3.68% |
Drawdowns
SPLV vs. SPHD - Drawdown Comparison
The maximum SPLV drawdown since its inception was -36.26%, smaller than the maximum SPHD drawdown of -41.39%. Use the drawdown chart below to compare losses from any high point for SPLV and SPHD. For additional features, visit the drawdowns tool.
Volatility
SPLV vs. SPHD - Volatility Comparison
Invesco S&P 500® Low Volatility ETF (SPLV) and Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) have volatilities of 2.83% and 2.80%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.