UDIV vs. SPHD
UDIV (Franklin U.S. Core Dividend Tilt Index ETF) and SPHD (Invesco S&P 500® High Dividend Low Volatility ETF) are both Dividend funds - UDIV tracks the Linked Morningstar US Dividend Enhanced Select Index while SPHD tracks the S&P 500 Low Volatility High Dividend Index. Both are passively managed. Over the past 10 years, UDIV returned 11.75%/yr vs 7.38%/yr for SPHD. A 0.62 correlation means they provide meaningful diversification when combined. UDIV charges 0.06%/yr vs 0.30%/yr for SPHD.
Performance
UDIV vs. SPHD - Performance Comparison
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Returns By Period
In the year-to-date period, UDIV achieves a 13.99% return, which is significantly higher than SPHD's 6.47% return. Over the past 10 years, UDIV has outperformed SPHD with an annualized return of 11.75%, while SPHD has yielded a comparatively lower 7.38% annualized return.
UDIV
- 1D
- -0.31%
- 1M
- 0.61%
- YTD
- 13.99%
- 6M
- 13.60%
- 1Y
- 31.69%
- 3Y*
- 23.72%
- 5Y*
- 14.35%
- 10Y*
- 11.75%
SPHD
- 1D
- 0.20%
- 1M
- -0.79%
- YTD
- 6.47%
- 6M
- 6.49%
- 1Y
- 11.21%
- 3Y*
- 12.10%
- 5Y*
- 6.82%
- 10Y*
- 7.38%
UDIV vs. SPHD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UDIV Franklin U.S. Core Dividend Tilt Index ETF | 13.99% | 19.00% | 25.61% | 25.21% | -15.00% | 19.66% | 5.54% | 24.60% | -8.83% | 17.44% |
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 6.47% | 3.41% | 18.08% | 1.32% | 0.58% | 24.98% | -9.98% | 20.26% | -6.17% | 11.90% |
Correlation
The correlation between UDIV and SPHD is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2016 | 0.62 |
Over the past year, the correlation between UDIV and SPHD has dropped to 0.25 - well below their long-term average of 0.62, suggesting their price drivers have been diverging.
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Return for Risk
UDIV vs. SPHD — Risk / Return Rank
UDIV
SPHD
UDIV vs. SPHD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin U.S. Core Dividend Tilt Index ETF (UDIV) 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.
| UDIV | SPHD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.55 | ||
| Sortino ratioReturn per unit of downside risk | +1.88 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.17 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 3.77 | 1.54 | +2.24 |
| Martin ratioReturn relative to average drawdown | 16.60 | 3.77 | +12.83 |
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Drawdowns
UDIV vs. SPHD - Drawdown Comparison
The maximum UDIV drawdown since its inception was -35.21%, smaller than the maximum SPHD drawdown of -41.39%. Use the drawdown chart below to compare losses from any high point for UDIV and SPHD.
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Drawdown Indicators
| UDIV | SPHD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.21% | -41.39% | +6.18% |
Max Drawdown (1Y)Largest decline over 1 year | -8.44% | -7.33% | -1.11% |
Max Drawdown (3Y)Largest decline over 3 years | -19.19% | -13.29% | -5.90% |
Max Drawdown (5Y)Largest decline over 5 years | -23.18% | -19.50% | -3.68% |
Max Drawdown (10Y)Largest decline over 10 years | -35.21% | -41.39% | +6.18% |
Current DrawdownCurrent decline from peak | -1.56% | -3.48% | +1.92% |
Average DrawdownAverage peak-to-trough decline | -4.63% | -4.69% | +0.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.91% | 2.98% | -1.07% |
Volatility
UDIV vs. SPHD - Volatility Comparison
Franklin U.S. Core Dividend Tilt Index ETF (UDIV) has a higher volatility of 4.77% compared to Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) at 3.95%. This indicates that UDIV'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.
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Volatility by Period
| UDIV | SPHD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.77% | 3.95% | +0.82% |
Volatility (6M)Calculated over the trailing 6-month period | 9.82% | 7.99% | +1.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.54% | 11.39% | +1.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.61% | 14.14% | +1.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.30% | 17.67% | -1.37% |
UDIV vs. SPHD - Expense Ratio Comparison
UDIV has a 0.06% expense ratio, which is lower than SPHD's 0.30% expense ratio.
Dividends
UDIV vs. SPHD - Dividend Comparison
UDIV's dividend yield for the trailing twelve months is around 1.10%, less than SPHD's 4.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 4.97% | 4.02% | 3.41% | 4.48% | 3.89% | 3.45% | 4.89% | 4.07% | 4.40% | 3.14% | 3.83% | 3.49% |
UDIV Franklin U.S. Core Dividend Tilt Index ETF | 1.10% | 1.53% | 2.05% | 1.91% | 3.20% | 2.97% | 2.90% | 3.40% | 3.74% | 3.47% | 1.63% | 0.00% |
Frequently Asked Questions
UDIV and SPHD have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UDIV has higher volatility (4.77%) compared to SPHD (3.95%). In terms of maximum drawdown, UDIV dropped -35.21% vs SPHD's -41.39%.
On 10-year performance, UDIV leads with 11.75% vs 7.38% for SPHD. On fees, UDIV is cheaper at 0.06% per year. On volatility, SPHD has been the lower-risk option at 3.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, UDIV has performed better with a 11.75% return vs 7.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UDIV is cheaper with a 0.06% expense ratio, compared with 0.30% for SPHD.
SPHD has the higher dividend yield at 4.97%, compared with 1.10% for UDIV.
UDIV tracks Linked Morningstar US Dividend Enhanced Select Index, while SPHD tracks S&P 500 Low Volatility High Dividend Index. They also come from different issuers: Franklin Templeton and Invesco. Their fees differ too: 0.06% for UDIV and 0.30% for SPHD.
UDIV currently has the higher Sharpe Ratio (2.54 vs 0.99), 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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