TPHD vs. SDY

Last updated Aug 2, 2026

TPHD (Timothy Plan High Dividend Stock ETF) and SDY (SPDR S&P Dividend ETF) are both Mid Cap Value Equities funds - TPHD tracks the Victory US Large Cap High Dividend Volatility Weighted BRI Index while SDY tracks the S&P High Yield Dividend Aristocrats Index. Both are passively managed. Over the past 5 years, TPHD returned 9.62%/yr vs 7.52%/yr for SDY. Their correlation of 0.94 means they have usually moved in the same direction. TPHD charges 0.52%/yr vs 0.35%/yr for SDY.

Performance

TPHD vs. SDY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Timothy Plan High Dividend Stock ETF (TPHD) and SPDR S&P Dividend ETF (SDY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with TPHD having a 13.29% return and SDY slightly lower at 12.79%.

TPHD

• 1D: 0.16%
• 1M: 0.88%
• 6M: 7.48%
• YTD: 13.29%
• 1Y: 15.48%
• 3Y*: 12.08%
• 5Y*: 9.62%
• 10Y*: —
• ALL TIME*: 10.28%

SDY

• 1D: -0.28%
• 1M: -0.43%
• 6M: 5.53%
• YTD: 12.79%
• 1Y: 16.57%
• 3Y*: 9.90%
• 5Y*: 7.52%
• 10Y*: 9.36%
• ALL TIME*: 9.00%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SDY SPDR S&P Dividend ETF	$29.02M	$30.00M	$33.36M
TPHD Timothy Plan High Dividend Stock ETF	$823.76K	$794.79K	$770.63K

TPHD vs. SDY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
TPHD Timothy Plan High Dividend Stock ETF	13.29%	8.28%	12.14%	8.86%	-1.91%	27.98%	-1.30%	9.57%
SDY SPDR S&P Dividend ETF	12.79%	8.18%	8.45%	2.61%	-0.54%	25.32%	1.71%	8.13%

Correlation

The correlation between TPHD and SDY is 0.89, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.89
Correlation (3Y) Balances recent behavior with more history.	0.90
Correlation (5Y) Shows whether the relationship held over a longer period.	0.92
Correlation (All Time) Calculated using the full available price history since May 1, 2019	0.94

The correlation between TPHD and SDY has been stable across timeframes, ranging from 0.89 to 0.94 - a consistent structural relationship.

TPHD vs. SDY - Sectors Allocation Comparison

Sectors	TPHD	SDY
Utilities	24.1%	14.2%
Industrials	18.7%	17.5%
Energy	14.0%	2.8%
Financial Services	12.8%	12.6%
Consumer Cyclical	9.2%	5.9%
Technology	8.8%	10.3%
Basic Materials	5.4%	5.8%
Consumer Defensive	4.3%	16.3%
Healthcare	2.6%	7.9%
Communication Services	0.0%	2.2%
Real Estate	0.0%	4.4%

Return for Risk

TPHD vs. SDY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TPHD

TPHD Risk / Return Rank: 60
TPHD Sharpe Ratio Rank: 58
TPHD Sortino Ratio Rank: 62
TPHD Omega Ratio Rank: 54
TPHD Calmar Ratio Rank: 69
TPHD Martin Ratio Rank: 56

SDY

SDY Risk / Return Rank: 62
SDY Sharpe Ratio Rank: 66
SDY Sortino Ratio Rank: 73
SDY Omega Ratio Rank: 62
SDY Calmar Ratio Rank: 61
SDY Martin Ratio Rank: 49

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TPHD vs. SDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Timothy Plan High Dividend Stock ETF (TPHD) and SPDR S&P Dividend ETF (SDY). 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.

	TPHD	SDY	Difference
Sharpe ratio: Return per unit of total volatility	1.37	1.51	-0.14
Sortino ratio: Return per unit of downside risk	2.08	2.32	-0.24
Omega ratio: Gain probability vs. loss probability	1.24	1.26	-0.02
Calmar ratio: Return relative to maximum drawdown	2.41	2.12	+0.29
Martin ratio: Return relative to average drawdown	6.70	5.70	+1.01

TPHD vs. SDY - Sharpe Ratio Comparison

The current TPHD Sharpe Ratio is 1.37, which is comparable to the SDY Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of TPHD and SDY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TPHD vs. SDY - Drawdown Comparison

The maximum TPHD drawdown since its inception was -41.71%, smaller than the maximum SDY drawdown of -54.75%. Use the drawdown chart below to compare losses from any high point for TPHD and SDY.

Drawdown Indicators

	TPHD	SDY	Difference
Max Drawdown Largest peak-to-trough decline	-41.71%	-54.75%	+13.04%
Max Drawdown (1Y) Largest decline over 1 year	-6.08%	-7.67%	+1.59%
Max Drawdown (3Y) Largest decline over 3 years	-15.89%	-14.39%	-1.50%
Max Drawdown (5Y) Largest decline over 5 years	-16.54%	-15.21%	-1.33%
Max Drawdown (10Y) Largest decline over 10 years	—	-36.70%	—
Current Drawdown Current decline from peak	-1.64%	-2.33%	+0.69%
Average Drawdown Average peak-to-trough decline	-4.65%	-6.17%	+1.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.18%	2.84%	-0.66%

Volatility

TPHD vs. SDY - Volatility Comparison

The current volatility for Timothy Plan High Dividend Stock ETF (TPHD) is 3.72%, while SPDR S&P Dividend ETF (SDY) has a volatility of 4.40%. This indicates that TPHD experiences smaller price fluctuations and is considered to be less risky than SDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TPHD	SDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.72%	4.40%	-0.68%
Volatility (6M) Calculated over the trailing 6-month period	7.45%	8.15%	-0.70%
Volatility (1Y) Calculated over the trailing 1-year period	10.66%	10.77%	-0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.59%	14.02%	+0.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.48%	17.09%	+2.39%

TPHD vs. SDY - Expense Ratio Comparison

TPHD has a 0.52% expense ratio, which is higher than SDY's 0.35% expense ratio.

Dividends

TPHD vs. SDY - Dividend Comparison

TPHD's dividend yield for the trailing twelve months is around 1.92%, less than SDY's 2.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SDY SPDR S&P Dividend ETF	2.41%	2.61%	2.56%	2.64%	2.55%	2.63%	2.85%	2.45%	2.73%	4.69%	3.30%	6.20%
TPHD Timothy Plan High Dividend Stock ETF	1.92%	2.10%	2.09%	2.19%	2.38%	1.86%	2.38%	1.61%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TPHD and SDY in my portfolio?

TPHD and SDY 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 is riskier, TPHD or SDY?

SDY has higher volatility (4.40%) compared to TPHD (3.72%). In terms of maximum drawdown, TPHD dropped -41.71% vs SDY's -54.75%.

Which ETF is better, TPHD or SDY?

On 5-year performance, TPHD leads with 9.62% vs 7.52% for SDY. On fees, SDY is cheaper at 0.35% per year. On volatility, TPHD has been the lower-risk option at 3.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TPHD or SDY?

Over the 5-year period, TPHD has performed better with a 9.62% return vs 7.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TPHD or SDY?

SDY is cheaper with a 0.35% expense ratio, compared with 0.52% for TPHD.

Which ETF pays a higher dividend yield, TPHD or SDY?

SDY has the higher dividend yield at 2.41%, compared with 1.92% for TPHD.

What is the main difference between TPHD and SDY?

TPHD tracks Victory US Large Cap High Dividend Volatility Weighted BRI Index, while SDY tracks S&P High Yield Dividend Aristocrats Index. They also come from different issuers: Timothy Plan and State Street. Their fees differ too: 0.52% for TPHD and 0.35% for SDY.

Which has better risk-adjusted returns?

SDY currently has the higher Sharpe Ratio (1.51 vs 1.37), 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.