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USD=X vs. SPHQ
Performance
Return for Risk
Drawdowns
Volatility

USD=X vs. SPHQ

Last updated Jun 15, 2026

USD=X (USD Cash) is a currency, while SPHQ (Invesco S&P 500 Quality ETF) is S&P 500 fund tracking the S&P 500 Quality Index. Over the past 10 years, USD=X returned 0.00%/yr vs 15.27%/yr for SPHQ.

Performance

USD=X vs. SPHQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USD Cash (USD=X) and Invesco S&P 500 Quality ETF (SPHQ). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

USD=X

1D
0.00%
1M
0.00%
YTD
0.00%
6M
0.00%
1Y
0.00%
3Y*
0.00%
5Y*
0.00%
10Y*
0.00%

SPHQ

1D
1.02%
1M
5.74%
YTD
16.79%
6M
15.77%
1Y
26.53%
3Y*
22.40%
5Y*
14.55%
10Y*
15.27%
*Multi-year figures are annualized to reflect compound growth (CAGR)

USD=X vs. SPHQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
USD=X
USD Cash		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SPHQ
Invesco S&P 500 Quality ETF		16.79%13.25%25.44%24.83%-15.76%28.03%17.36%33.64%-7.10%19.10%

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USD Cash

Invesco S&P 500 Quality ETF

Often compared with USD=X:
USD=X vs. UUPUSD=X vs. EUR=XUSD=X vs. XRP-USDUSD=X vs. BTC-USDUSD=X vs. QQQUSD=X vs. TSLAUSD=X vs. USDX
Often compared with SPHQ:
SPHQ vs. QUALSPHQ vs. VOOSPHQ vs. SPYSPHQ vs. JQUASPHQ vs. SCHDSPHQ vs. SPYVSPHQ vs. QQQ

Return for Risk

USD=X vs. SPHQ — Risk / Return Rank

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

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

SPHQ
SPHQ Risk / Return Rank: 6666
Overall Rank
SPHQ Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
SPHQ Sortino Ratio Rank: 6868
Sortino Ratio Rank
SPHQ Omega Ratio Rank: 6060
Omega Ratio Rank
SPHQ Calmar Ratio Rank: 6363
Calmar Ratio Rank
SPHQ Martin Ratio Rank: 7373
Martin Ratio Rank
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.

USD=X vs. SPHQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USD Cash (USD=X) and Invesco S&P 500 Quality ETF (SPHQ). 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.

USD=XSPHQDifference
Sharpe ratioReturn per unit of total volatility

—

1.85

—

Sortino ratioReturn per unit of downside risk

—

2.67

—

Omega ratioGain probability vs. loss probability

—

1.32

—

Calmar ratioReturn relative to maximum drawdown

—

2.75

—

Martin ratioReturn relative to average drawdown

—

11.76

—

USD=X vs. SPHQ - Sharpe Ratio Comparison

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Drawdowns

USD=X vs. SPHQ - Drawdown Comparison

The maximum USD=X drawdown since its inception was 0.00%, smaller than the maximum SPHQ drawdown of -57.83%. Use the drawdown chart below to compare losses from any high point for USD=X and SPHQ.

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Drawdown Indicators

USD=XSPHQDifference

Max Drawdown

Largest peak-to-trough decline

0.00%

-57.83%

+57.83%

Max Drawdown (1Y)

Largest decline over 1 year

0.00%

-8.90%

+8.90%

Max Drawdown (3Y)

Largest decline over 3 years

0.00%

-16.57%

+16.57%

Max Drawdown (5Y)

Largest decline over 5 years

0.00%

-25.04%

+25.04%

Max Drawdown (10Y)

Largest decline over 10 years

0.00%

-31.60%

+31.60%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

0.00%

-10.69%

+10.69%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.00%

2.09%

-2.09%

Volatility

USD=X vs. SPHQ - Volatility Comparison

The current volatility for USD Cash (USD=X) is 0.00%, while Invesco S&P 500 Quality ETF (SPHQ) has a volatility of 4.92%. This indicates that USD=X experiences smaller price fluctuations and is considered to be less risky than SPHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

USD=XSPHQDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.00%

4.92%

-4.92%

Volatility (6M)

Calculated over the trailing 6-month period

0.00%

10.83%

-10.83%

Volatility (1Y)

Calculated over the trailing 1-year period

0.00%

13.18%

-13.18%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

0.00%

16.53%

-16.53%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

0.00%

17.90%

-17.90%

Frequently Asked Questions

SPHQ has higher volatility (4.92%) compared to USD=X (0.00%). In terms of maximum drawdown, USD=X dropped 0.00% vs SPHQ's -57.83%.

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