VLN vs. SPHD

Last updated Jun 4, 2026

VLN (Valens Semiconductor Ltd.) is a stock, while SPHD (Invesco S&P 500® High Dividend Low Volatility ETF) is Dividend fund tracking the S&P 500 Low Volatility High Dividend Index. Over the past 3 years, VLN returned 11.07%/yr vs 11.42%/yr for SPHD. At a 0.14 correlation, their price movements are largely independent.

Performance

VLN vs. SPHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Valens Semiconductor Ltd. (VLN) and Invesco S&P 500® High Dividend Low Volatility ETF (SPHD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VLN achieves a 126.76% return, which is significantly higher than SPHD's 4.38% return.

VLN

• 1D: -2.72%
• 1M: 43.11%
• YTD: 126.76%
• 6M: 92.81%
• 1Y: 47.71%
• 3Y*: 11.07%
• 5Y*: —
• 10Y*: —

SPHD

• 1D: -0.89%
• 1M: -0.82%
• YTD: 4.38%
• 6M: 4.63%
• 1Y: 8.12%
• 3Y*: 11.42%
• 5Y*: 5.48%
• 10Y*: 7.08%

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

VLN vs. SPHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
VLN Valens Semiconductor Ltd.	126.76%	-45.38%	6.12%	-54.38%	-30.26%	16.84%
SPHD Invesco S&P 500® High Dividend Low Volatility ETF	4.38%	3.41%	18.08%	1.32%	0.58%	6.87%

Correlation

The correlation between VLN and SPHD is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.13
Correlation (All Time) Calculated using the full available price history since Oct 4, 2021	0.14

Return for Risk

VLN vs. SPHD — Risk / Return Rank

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

VLN

VLN Risk / Return Rank: 60
VLN Sharpe Ratio Rank: 57
VLN Sortino Ratio Rank: 70
VLN Omega Ratio Rank: 65
VLN Calmar Ratio Rank: 57
VLN Martin Ratio Rank: 53

SPHD

SPHD Risk / Return Rank: 21
SPHD Sharpe Ratio Rank: 21
SPHD Sortino Ratio Rank: 21
SPHD Omega Ratio Rank: 19
SPHD Calmar Ratio Rank: 23
SPHD Martin Ratio Rank: 22

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.

VLN vs. SPHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Valens Semiconductor Ltd. (VLN) 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.

	VLN	SPHD	Difference
Sharpe ratio: Return per unit of total volatility	0.46	0.74	-0.28
Sortino ratio: Return per unit of downside risk	1.75	1.15	+0.60
Omega ratio: Gain probability vs. loss probability	1.20	1.13	+0.07
Calmar ratio: Return relative to maximum drawdown	0.74	1.11	-0.37
Martin ratio: Return relative to average drawdown	1.17	2.78	-1.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VLN vs. SPHD - Sharpe Ratio Comparison

The current VLN Sharpe Ratio is 0.46, which is lower than the SPHD Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of VLN and SPHD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VLN	SPHD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.46	0.74	-0.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.39	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.40	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.19	0.58	-0.76

Drawdowns

VLN vs. SPHD - Drawdown Comparison

The maximum VLN drawdown since its inception was -90.13%, which is greater than SPHD's maximum drawdown of -41.39%. Use the drawdown chart below to compare losses from any high point for VLN and SPHD.

Drawdown Indicators

	VLN	SPHD	Difference
Max Drawdown Largest peak-to-trough decline	-90.13%	-41.39%	-48.74%
Max Drawdown (1Y) Largest decline over 1 year	-64.42%	-7.33%	-57.09%
Max Drawdown (3Y) Largest decline over 3 years	-67.92%	-13.29%	-54.63%
Max Drawdown (5Y) Largest decline over 5 years	—	-19.50%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.39%	—
Current Drawdown Current decline from peak	-71.38%	-5.37%	-66.01%
Average Drawdown Average peak-to-trough decline	-71.13%	-4.70%	-66.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	40.82%	2.93%	+37.89%

Volatility

VLN vs. SPHD - Volatility Comparison

Valens Semiconductor Ltd. (VLN) has a higher volatility of 32.50% compared to Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) at 2.99%. This indicates that VLN'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.

Volatility by Period

	VLN	SPHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	32.50%	2.99%	+29.51%
Volatility (6M) Calculated over the trailing 6-month period	78.87%	7.55%	+71.32%
Volatility (1Y) Calculated over the trailing 1-year period	103.68%	11.04%	+92.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	77.06%	14.16%	+62.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	77.06%	17.64%	+59.42%

Dividends

VLN vs. SPHD - Dividend Comparison

VLN has not paid dividends to shareholders, while SPHD's dividend yield for the trailing twelve months is around 4.62%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPHD Invesco S&P 500® High Dividend Low Volatility ETF	4.62%	4.02%	3.41%	4.48%	3.89%	3.45%	4.89%	4.07%	4.40%	3.14%	3.83%	3.49%
VLN Valens Semiconductor Ltd.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VLN and SPHD in my portfolio?

VLN and SPHD have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VLN or SPHD?

VLN has higher volatility (32.50%) compared to SPHD (2.99%). In terms of maximum drawdown, VLN dropped -90.13% vs SPHD's -41.39%.

Which has better risk-adjusted returns?

SPHD currently has the higher Sharpe Ratio (0.74 vs 0.46), 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.