TDVG vs. SPHD
TDVG (T. Rowe Price Dividend Growth ETF) and SPHD (Invesco S&P 500® High Dividend Low Volatility ETF) are both exchange-traded funds - TDVG is a Large Cap Growth Equities fund actively managed by T. Rowe Price, while SPHD is a Dividend fund tracking the S&P 500 Low Volatility High Dividend Index. TDVG is actively managed, while SPHD is passively managed. Over the past 5 years, TDVG returned 10.19%/yr vs 7.06%/yr for SPHD. A 0.70 correlation means they provide meaningful diversification when combined. TDVG charges 0.50%/yr vs 0.30%/yr for SPHD.
Performance
TDVG vs. SPHD - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with TDVG having a 8.04% return and SPHD slightly higher at 8.20%.
TDVG
- 1D
- -0.55%
- 1M
- 1.22%
- YTD
- 8.04%
- 6M
- 7.41%
- 1Y
- 17.57%
- 3Y*
- 15.55%
- 5Y*
- 10.19%
- 10Y*
- —
SPHD
- 1D
- 1.63%
- 1M
- 0.82%
- YTD
- 8.20%
- 6M
- 8.56%
- 1Y
- 12.09%
- 3Y*
- 12.70%
- 5Y*
- 7.06%
- 10Y*
- 7.55%
TDVG vs. SPHD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
TDVG T. Rowe Price Dividend Growth ETF | 8.04% | 14.80% | 13.45% | 13.95% | -10.15% | 26.20% | 12.97% |
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 8.20% | 3.41% | 18.08% | 1.32% | 0.58% | 24.98% | 13.22% |
Correlation
The correlation between TDVG and SPHD is 0.53, 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 | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Aug 5, 2020 | 0.70 |
The correlation between TDVG and SPHD shifts across timeframes, from 0.53 (1 year) to 0.71 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
TDVG vs. SPHD — Risk / Return Rank
TDVG
SPHD
TDVG vs. SPHD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Dividend Growth ETF (TDVG) 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.
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.
| TDVG | SPHD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.75 | ||
| Sortino ratioReturn per unit of downside risk | +0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.18 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.44 | 1.66 | +0.78 |
| Martin ratioReturn relative to average drawdown | 10.01 | 4.06 | +5.95 |
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Drawdowns
TDVG vs. SPHD - Drawdown Comparison
The maximum TDVG drawdown since its inception was -19.20%, smaller than the maximum SPHD drawdown of -41.39%. Use the drawdown chart below to compare losses from any high point for TDVG and SPHD.
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Drawdown Indicators
| TDVG | SPHD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.20% | -41.39% | +22.19% |
Max Drawdown (1Y)Largest decline over 1 year | -7.24% | -7.33% | +0.09% |
Max Drawdown (3Y)Largest decline over 3 years | -14.02% | -13.29% | -0.73% |
Max Drawdown (5Y)Largest decline over 5 years | -19.20% | -19.50% | +0.30% |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.39% | — |
Current DrawdownCurrent decline from peak | -0.82% | -1.91% | +1.09% |
Average DrawdownAverage peak-to-trough decline | -3.73% | -4.69% | +0.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.76% | 2.98% | -1.22% |
Volatility
TDVG vs. SPHD - Volatility Comparison
The current volatility for T. Rowe Price Dividend Growth ETF (TDVG) is 2.78%, while Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) has a volatility of 4.26%. This indicates that TDVG 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
| TDVG | SPHD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.78% | 4.26% | -1.48% |
Volatility (6M)Calculated over the trailing 6-month period | 7.61% | 8.13% | -0.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.79% | 11.48% | -1.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.92% | 14.16% | -0.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.90% | 17.65% | -3.75% |
TDVG vs. SPHD - Expense Ratio Comparison
TDVG has a 0.50% expense ratio, which is higher than SPHD's 0.30% expense ratio.
Dividends
TDVG vs. SPHD - Dividend Comparison
TDVG's dividend yield for the trailing twelve months is around 0.98%, less than SPHD's 4.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 4.60% | 4.02% | 3.41% | 4.48% | 3.89% | 3.45% | 4.89% | 4.07% | 4.40% | 3.14% | 3.83% | 3.49% |
TDVG T. Rowe Price Dividend Growth ETF | 0.98% | 1.00% | 1.06% | 1.31% | 1.15% | 0.80% | 0.40% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TDVG and SPHD have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPHD has higher volatility (4.26%) compared to TDVG (2.78%). In terms of maximum drawdown, TDVG dropped -19.20% vs SPHD's -41.39%.
On 5-year performance, TDVG leads with 10.19% vs 7.06% for SPHD. On fees, SPHD is cheaper at 0.30% per year. On volatility, TDVG has been the lower-risk option at 2.78%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, TDVG has performed better with a 10.19% return vs 7.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPHD is cheaper with a 0.30% expense ratio, compared with 0.50% for TDVG.
SPHD has the higher dividend yield at 4.60%, compared with 0.98% for TDVG.
TDVG is categorized as Large Cap Growth Equities, while SPHD is Dividend. They also come from different issuers: T. Rowe Price and Invesco. Their fees differ too: 0.50% for TDVG and 0.30% for SPHD.
TDVG currently has the higher Sharpe Ratio (1.81 vs 1.06), 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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