VIG vs. SPHD
VIG (Vanguard Dividend Appreciation ETF) and SPHD (Invesco S&P 500® High Dividend Low Volatility ETF) are both Dividend funds - VIG tracks the S&P U.S. Dividend Growers Index while SPHD tracks the S&P 500 Low Volatility High Dividend Index. Both are passively managed. Over the past 10 years, VIG returned 13.32%/yr vs 7.41%/yr for SPHD. A 0.75 correlation means they provide meaningful diversification when combined. VIG charges 0.04%/yr vs 0.30%/yr for SPHD.
Performance
VIG vs. SPHD - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with VIG having a 8.21% return and SPHD slightly higher at 8.51%. Over the past 10 years, VIG has outperformed SPHD with an annualized return of 13.32%, while SPHD has yielded a comparatively lower 7.41% annualized return.
VIG
- 1D
- 0.49%
- 1M
- 3.27%
- YTD
- 8.21%
- 6M
- 7.66%
- 1Y
- 20.11%
- 3Y*
- 15.75%
- 5Y*
- 11.11%
- 10Y*
- 13.32%
SPHD
- 1D
- -1.12%
- 1M
- 4.38%
- YTD
- 8.51%
- 6M
- 7.65%
- 1Y
- 12.70%
- 3Y*
- 11.55%
- 5Y*
- 6.57%
- 10Y*
- 7.41%
VIG vs. SPHD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VIG Vanguard Dividend Appreciation ETF | 8.21% | 14.17% | 16.99% | 14.51% | -9.80% | 23.76% | 15.43% | 29.62% | -2.08% | 22.22% |
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 8.51% | 3.41% | 18.08% | 1.32% | 0.58% | 24.98% | -9.98% | 20.26% | -6.17% | 11.90% |
Correlation
The correlation between VIG and SPHD is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2012 | 0.75 |
Over the past year, the correlation between VIG and SPHD has dropped to 0.49 - well below their long-term average of 0.75, suggesting their price drivers have been diverging.
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Return for Risk
VIG vs. SPHD — Risk / Return Rank
VIG
SPHD
VIG vs. SPHD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Dividend Appreciation ETF (VIG) 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.
| VIG | SPHD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.86 | ||
| Sortino ratioReturn per unit of downside risk | +1.17 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.19 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.55 | 1.74 | +0.81 |
| Martin ratioReturn relative to average drawdown | 10.30 | 4.31 | +6.00 |
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Drawdowns
VIG vs. SPHD - Drawdown Comparison
The maximum VIG drawdown since its inception was -46.81%, which is greater than SPHD's maximum drawdown of -41.39%. Use the drawdown chart below to compare losses from any high point for VIG and SPHD.
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Drawdown Indicators
| VIG | SPHD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.81% | -41.39% | -5.42% |
Max Drawdown (1Y)Largest decline over 1 year | -7.91% | -7.33% | -0.58% |
Max Drawdown (3Y)Largest decline over 3 years | -14.95% | -13.29% | -1.66% |
Max Drawdown (5Y)Largest decline over 5 years | -20.39% | -19.50% | -0.89% |
Max Drawdown (10Y)Largest decline over 10 years | -31.72% | -41.39% | +9.67% |
Current DrawdownCurrent decline from peak | 0.00% | -1.63% | +1.63% |
Average DrawdownAverage peak-to-trough decline | -5.51% | -4.70% | -0.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.96% | 2.96% | -1.00% |
Volatility
VIG vs. SPHD - Volatility Comparison
The current volatility for Vanguard Dividend Appreciation ETF (VIG) is 2.83%, while Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) has a volatility of 3.91%. This indicates that VIG 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
| VIG | SPHD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.83% | 3.91% | -1.08% |
Volatility (6M)Calculated over the trailing 6-month period | 7.76% | 7.86% | -0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.14% | 11.27% | -1.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.26% | 14.21% | +0.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.07% | 17.66% | -1.59% |
VIG vs. SPHD - Expense Ratio Comparison
VIG has a 0.04% expense ratio, which is lower than SPHD's 0.30% expense ratio.
Dividends
VIG vs. SPHD - Dividend Comparison
VIG's dividend yield for the trailing twelve months is around 1.46%, less than SPHD's 4.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 4.45% | 4.02% | 3.41% | 4.48% | 3.89% | 3.45% | 4.89% | 4.07% | 4.40% | 3.14% | 3.83% | 3.49% |
VIG Vanguard Dividend Appreciation ETF | 1.46% | 1.62% | 1.73% | 1.88% | 1.96% | 1.55% | 1.63% | 1.71% | 2.08% | 1.88% | 2.14% | 2.34% |
Frequently Asked Questions
VIG and SPHD have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPHD has higher volatility (3.91%) compared to VIG (2.83%). In terms of maximum drawdown, VIG dropped -46.81% vs SPHD's -41.39%.
On 10-year performance, VIG leads with 13.32% vs 7.41% for SPHD. On fees, VIG is cheaper at 0.04% per year. On volatility, VIG has been the lower-risk option at 2.83%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VIG has performed better with a 13.32% return vs 7.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VIG is cheaper with a 0.04% expense ratio, compared with 0.30% for SPHD.
SPHD has the higher dividend yield at 4.45%, compared with 1.46% for VIG.
VIG tracks S&P U.S. Dividend Growers Index, while SPHD tracks S&P 500 Low Volatility High Dividend Index. They also come from different issuers: Vanguard and Invesco. Their fees differ too: 0.04% for VIG and 0.30% for SPHD.
VIG currently has the higher Sharpe Ratio (2.00 vs 1.13), 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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