XSHD vs. AAPL

Last updated Jun 5, 2026

XSHD (Invesco S&P SmallCap High Dividend Low Volatility ETF) is Volatility Hedged Equity fund tracking the S&P SmallCap 600 Low Volatility High Dividend Index, while AAPL (Apple Inc) is a stock. Over the past 5 years, XSHD returned -4.99%/yr vs 20.46%/yr for AAPL. At a 0.35 correlation, their price movements are largely independent.

Performance

XSHD vs. AAPL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap High Dividend Low Volatility ETF (XSHD) and Apple Inc (AAPL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XSHD achieves a 8.51% return, which is significantly lower than AAPL's 14.69% return.

XSHD

• 1D: 1.42%
• 1M: -1.41%
• YTD: 8.51%
• 6M: 8.94%
• 1Y: 9.23%
• 3Y*: 2.45%
• 5Y*: -4.99%
• 10Y*: —

AAPL

• 1D: 0.31%
• 1M: 9.62%
• YTD: 14.69%
• 6M: 11.08%
• 1Y: 54.06%
• 3Y*: 20.68%
• 5Y*: 20.46%
• 10Y*: 30.07%

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

XSHD vs. AAPL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XSHD Invesco S&P SmallCap High Dividend Low Volatility ETF	8.51%	-6.41%	-5.25%	3.00%	-19.48%	18.31%	-13.55%	17.91%	-7.86%	1.52%
AAPL Apple Inc	14.69%	9.05%	30.71%	49.01%	-26.40%	34.65%	82.31%	88.96%	-5.39%	48.46%

Correlation

The correlation between XSHD and AAPL is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (All Time) Calculated using the full available price history since Dec 2, 2016	0.35

The correlation between XSHD and AAPL shifts across timeframes, from 0.28 (1 year) to 0.39 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

XSHD vs. AAPL — Risk / Return Rank

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

XSHD

XSHD Risk / Return Rank: 20
XSHD Sharpe Ratio Rank: 20
XSHD Sortino Ratio Rank: 20
XSHD Omega Ratio Rank: 19
XSHD Calmar Ratio Rank: 21
XSHD Martin Ratio Rank: 21

AAPL

AAPL Risk / Return Rank: 90
AAPL Sharpe Ratio Rank: 92
AAPL Sortino Ratio Rank: 91
AAPL Omega Ratio Rank: 90
AAPL Calmar Ratio Rank: 88
AAPL Martin Ratio Rank: 87

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.

XSHD vs. AAPL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap High Dividend Low Volatility ETF (XSHD) and Apple Inc (AAPL). 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.

	XSHD	AAPL	Difference
Sharpe ratio: Return per unit of total volatility	0.63	2.44	-1.81
Sortino ratio: Return per unit of downside risk	1.02	3.40	-2.39
Omega ratio: Gain probability vs. loss probability	1.11	1.44	-0.32
Calmar ratio: Return relative to maximum drawdown	0.88	3.94	-3.06
Martin ratio: Return relative to average drawdown	2.38	9.91	-7.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XSHD vs. AAPL - Sharpe Ratio Comparison

The current XSHD Sharpe Ratio is 0.63, which is lower than the AAPL Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of XSHD and AAPL, 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

	XSHD	AAPL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.63	2.44	-1.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.27	0.75	-1.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.04	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.03	0.44	-0.47

Drawdowns

XSHD vs. AAPL - Drawdown Comparison

The maximum XSHD drawdown since its inception was -49.53%, smaller than the maximum AAPL drawdown of -81.80%. Use the drawdown chart below to compare losses from any high point for XSHD and AAPL.

Drawdown Indicators

	XSHD	AAPL	Difference
Max Drawdown Largest peak-to-trough decline	-49.53%	-81.80%	+32.27%
Max Drawdown (1Y) Largest decline over 1 year	-10.51%	-13.80%	+3.29%
Max Drawdown (3Y) Largest decline over 3 years	-20.77%	-33.36%	+12.59%
Max Drawdown (5Y) Largest decline over 5 years	-36.84%	-33.36%	-3.48%
Max Drawdown (10Y) Largest decline over 10 years	—	-38.52%	—
Current Drawdown Current decline from peak	-24.43%	-1.26%	-23.17%
Average Drawdown Average peak-to-trough decline	-16.37%	-29.61%	+13.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.89%	5.47%	-1.58%

Volatility

XSHD vs. AAPL - Volatility Comparison

The current volatility for Invesco S&P SmallCap High Dividend Low Volatility ETF (XSHD) is 3.52%, while Apple Inc (AAPL) has a volatility of 5.01%. This indicates that XSHD experiences smaller price fluctuations and is considered to be less risky than AAPL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XSHD	AAPL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.52%	5.01%	-1.49%
Volatility (6M) Calculated over the trailing 6-month period	9.86%	15.88%	-6.02%
Volatility (1Y) Calculated over the trailing 1-year period	14.80%	22.31%	-7.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.89%	27.45%	-8.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.24%	28.89%	-6.65%

Dividends

XSHD vs. AAPL - Dividend Comparison

XSHD's dividend yield for the trailing twelve months is around 5.33%, more than AAPL's 0.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAPL Apple Inc	0.34%	0.38%	0.40%	0.49%	0.70%	0.49%	0.61%	1.04%	1.79%	1.45%	1.93%	1.93%
XSHD Invesco S&P SmallCap High Dividend Low Volatility ETF	5.33%	6.45%	7.25%	7.62%	6.77%	3.86%	5.55%	4.88%	5.49%	4.11%	0.41%	0.00%

Frequently Asked Questions

Can I hold both XSHD and AAPL in my portfolio?

XSHD and AAPL have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XSHD or AAPL?

AAPL has higher volatility (5.01%) compared to XSHD (3.52%). In terms of maximum drawdown, XSHD dropped -49.53% vs AAPL's -81.80%.

Which has better risk-adjusted returns?

AAPL currently has the higher Sharpe Ratio (2.44 vs 0.63), 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.