SVAAX vs. SPHD

Last updated Jun 4, 2026

SVAAX (Federated Hermes Strategic Value Dividend Fund Class A) and SPHD (Invesco S&P 500® High Dividend Low Volatility ETF) are both Dividend funds. SVAAX is actively managed, while SPHD is passively managed. Over the past 10 years, SVAAX returned 7.83%/yr vs 7.08%/yr for SPHD. Their correlation of 0.86 suggests significant overlap in exposure. SVAAX charges 1.06%/yr vs 0.30%/yr for SPHD.

Performance

SVAAX vs. SPHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes Strategic Value Dividend Fund Class A (SVAAX) and Invesco S&P 500® High Dividend Low Volatility ETF (SPHD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SVAAX achieves a 8.72% return, which is significantly higher than SPHD's 4.38% return. Over the past 10 years, SVAAX has outperformed SPHD with an annualized return of 7.83%, while SPHD has yielded a comparatively lower 7.08% annualized return.

SVAAX

• 1D: 0.44%
• 1M: -0.20%
• YTD: 8.72%
• 6M: 8.60%
• 1Y: 18.89%
• 3Y*: 15.08%
• 5Y*: 10.02%
• 10Y*: 7.83%

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)

SVAAX vs. SPHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SVAAX Federated Hermes Strategic Value Dividend Fund Class A	8.72%	14.42%	16.29%	-2.07%	8.07%	21.36%	-8.15%	19.42%	-8.44%	14.69%
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 SVAAX and SPHD is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Oct 31, 2012	0.86

The correlation between SVAAX and SPHD shifts across timeframes, from 0.74 (1 year) to 0.86 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SVAAX vs. SPHD — Risk / Return Rank

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

SVAAX

SVAAX Risk / Return Rank: 68
SVAAX Sharpe Ratio Rank: 62
SVAAX Sortino Ratio Rank: 65
SVAAX Omega Ratio Rank: 51
SVAAX Calmar Ratio Rank: 92
SVAAX Martin Ratio Rank: 72

SPHD

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

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.

SVAAX vs. SPHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Strategic Value Dividend Fund Class A (SVAAX) 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.

	SVAAX	SPHD	Difference
Sharpe ratio: Return per unit of total volatility	2.32	0.74	+1.58
Sortino ratio: Return per unit of downside risk	3.39	1.15	+2.24
Omega ratio: Gain probability vs. loss probability	1.39	1.13	+0.26
Calmar ratio: Return relative to maximum drawdown	5.06	1.11	+3.95
Martin ratio: Return relative to average drawdown	13.74	2.78	+10.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SVAAX vs. SPHD - Sharpe Ratio Comparison

The current SVAAX Sharpe Ratio is 2.32, which is higher than the SPHD Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of SVAAX 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.

Sharpe Ratios by Period

	SVAAX	SPHD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.32	0.74	+1.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.77	0.39	+0.38
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	0.40	+0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.58	-0.10

Drawdowns

SVAAX vs. SPHD - Drawdown Comparison

The maximum SVAAX drawdown since its inception was -51.16%, which is greater than SPHD's maximum drawdown of -41.39%. Use the drawdown chart below to compare losses from any high point for SVAAX and SPHD.

Drawdown Indicators

	SVAAX	SPHD	Difference
Max Drawdown Largest peak-to-trough decline	-51.16%	-41.39%	-9.77%
Max Drawdown (1Y) Largest decline over 1 year	-4.71%	-7.33%	+2.62%
Max Drawdown (3Y) Largest decline over 3 years	-12.84%	-13.29%	+0.45%
Max Drawdown (5Y) Largest decline over 5 years	-16.17%	-19.50%	+3.33%
Max Drawdown (10Y) Largest decline over 10 years	-36.47%	-41.39%	+4.92%
Current Drawdown Current decline from peak	-3.33%	-5.37%	+2.04%
Average Drawdown Average peak-to-trough decline	-8.21%	-4.70%	-3.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.60%	2.93%	-0.33%

Volatility

SVAAX vs. SPHD - Volatility Comparison

Federated Hermes Strategic Value Dividend Fund Class A (SVAAX) has a higher volatility of 3.60% compared to Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) at 2.99%. This indicates that SVAAX's price experiences larger fluctuations and is considered to be riskier than SPHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SVAAX	SPHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.60%	2.99%	+0.61%
Volatility (6M) Calculated over the trailing 6-month period	7.37%	7.55%	-0.18%
Volatility (1Y) Calculated over the trailing 1-year period	10.30%	11.04%	-0.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.65%	14.16%	-0.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.39%	17.64%	-2.25%

SVAAX vs. SPHD - Expense Ratio Comparison

SVAAX has a 1.06% expense ratio, which is higher than SPHD's 0.30% expense ratio.

Dividends

SVAAX vs. SPHD - Dividend Comparison

SVAAX's dividend yield for the trailing twelve months is around 5.88%, more than SPHD's 4.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
SVAAX Federated Hermes Strategic Value Dividend Fund Class A	5.88%	5.80%	7.38%	4.10%	9.49%	3.50%	4.06%	8.55%	8.39%	10.16%	5.00%	8.45%

Frequently Asked Questions

Can I hold both SVAAX and SPHD in my portfolio?

SVAAX and SPHD have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SVAAX or SPHD?

SVAAX has higher volatility (3.60%) compared to SPHD (2.99%). In terms of maximum drawdown, SVAAX dropped -51.16% vs SPHD's -41.39%.

Which has better risk-adjusted returns?

SVAAX currently has the higher Sharpe Ratio (2.32 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.