VMNVX vs. SPHD
Compare and contrast key facts about Vanguard Global Minimum Volatility Fund Admiral Shares (VMNVX) and Invesco S&P 500® High Dividend Low Volatility ETF (SPHD).
VMNVX is managed by Vanguard. It was launched on Dec 12, 2013. SPHD is a passively managed fund by Invesco that tracks the performance of the S&P Low Volatility High Dividend index. It was launched on Oct 18, 2012.
Performance
VMNVX vs. SPHD - Performance Comparison
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VMNVX vs. SPHD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VMNVX Vanguard Global Minimum Volatility Fund Admiral Shares | 1.71% | 12.83% | 13.42% | 7.94% | -4.46% | 15.40% | -3.94% | 22.66% | -1.70% | 16.03% |
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 4.64% | 3.41% | 18.08% | 1.32% | 0.58% | 24.98% | -9.98% | 20.26% | -6.17% | 11.90% |
Returns By Period
In the year-to-date period, VMNVX achieves a 1.71% return, which is significantly lower than SPHD's 4.64% return. Over the past 10 years, VMNVX has outperformed SPHD with an annualized return of 8.25%, while SPHD has yielded a comparatively lower 7.24% annualized return.
VMNVX
- 1D
- 0.22%
- 1M
- -5.84%
- YTD
- 1.71%
- 6M
- 2.90%
- 1Y
- 8.16%
- 3Y*
- 11.47%
- 5Y*
- 8.47%
- 10Y*
- 8.25%
SPHD
- 1D
- 0.55%
- 1M
- -4.99%
- YTD
- 4.64%
- 6M
- 2.81%
- 1Y
- 3.20%
- 3Y*
- 9.99%
- 5Y*
- 7.05%
- 10Y*
- 7.24%
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VMNVX vs. SPHD - Expense Ratio Comparison
VMNVX has a 0.14% expense ratio, which is lower than SPHD's 0.30% expense ratio.
Return for Risk
VMNVX vs. SPHD — Risk / Return Rank
VMNVX
SPHD
VMNVX vs. SPHD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Global Minimum Volatility Fund Admiral Shares (VMNVX) 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.
| VMNVX | SPHD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.91 | 0.22 | +0.69 |
Sortino ratioReturn per unit of downside risk | 1.30 | 0.41 | +0.89 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.05 | +0.14 |
Calmar ratioReturn relative to maximum drawdown | 1.08 | 0.38 | +0.70 |
Martin ratioReturn relative to average drawdown | 5.25 | 1.22 | +4.03 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VMNVX | SPHD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 0.22 | +0.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.90 | 0.50 | +0.40 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.69 | 0.41 | +0.28 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.76 | 0.59 | +0.17 |
Correlation
The correlation between VMNVX and SPHD is 0.74, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
VMNVX vs. SPHD - Dividend Comparison
VMNVX's dividend yield for the trailing twelve months is around 9.90%, more than SPHD's 4.31% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMNVX Vanguard Global Minimum Volatility Fund Admiral Shares | 9.90% | 10.07% | 3.84% | 3.13% | 5.03% | 6.33% | 2.15% | 4.62% | 7.37% | 2.31% | 2.82% | 3.30% |
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 4.31% | 4.02% | 3.41% | 4.48% | 3.89% | 3.45% | 4.89% | 4.07% | 4.40% | 3.14% | 3.83% | 3.49% |
Drawdowns
VMNVX vs. SPHD - Drawdown Comparison
The maximum VMNVX drawdown since its inception was -33.11%, smaller than the maximum SPHD drawdown of -41.39%. Use the drawdown chart below to compare losses from any high point for VMNVX and SPHD.
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Drawdown Indicators
| VMNVX | SPHD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.11% | -41.39% | +8.28% |
Max Drawdown (1Y)Largest decline over 1 year | -7.93% | -11.33% | +3.40% |
Max Drawdown (5Y)Largest decline over 5 years | -12.93% | -19.50% | +6.57% |
Max Drawdown (10Y)Largest decline over 10 years | -33.11% | -41.39% | +8.28% |
Current DrawdownCurrent decline from peak | -6.04% | -5.14% | -0.90% |
Average DrawdownAverage peak-to-trough decline | -2.82% | -4.70% | +1.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.63% | 3.67% | -2.04% |
Volatility
VMNVX vs. SPHD - Volatility Comparison
The current volatility for Vanguard Global Minimum Volatility Fund Admiral Shares (VMNVX) is 2.59%, while Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) has a volatility of 3.21%. This indicates that VMNVX 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
| VMNVX | SPHD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.59% | 3.21% | -0.62% |
Volatility (6M)Calculated over the trailing 6-month period | 4.89% | 7.91% | -3.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.05% | 14.51% | -4.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.52% | 14.20% | -4.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.96% | 17.65% | -5.69% |