XSHD vs. DVQQ

Last updated Jun 24, 2026

XSHD (Invesco S&P SmallCap High Dividend Low Volatility ETF) and DVQQ (WEBs QQQ Defined Volatility ETF) are both exchange-traded funds - XSHD is a Volatility Hedged Equity fund tracking the S&P SmallCap 600 Low Volatility High Dividend Index, while DVQQ is a Large Cap Growth Equities fund tracking the Syntax Defined Volatility Triple Qs Index. Both are passively managed. Over the past year, XSHD returned 6.83% vs 40.25% for DVQQ. At a 0.34 correlation, their price movements are largely independent. XSHD charges 0.30%/yr vs 0.94%/yr for DVQQ.

Performance

XSHD vs. DVQQ - 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 WEBs QQQ Defined Volatility ETF (DVQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XSHD achieves a 9.24% return, which is significantly lower than DVQQ's 14.40% return.

XSHD

• 1D: 1.34%
• 1M: 1.12%
• YTD: 9.24%
• 6M: 9.16%
• 1Y: 6.83%
• 3Y*: 2.49%
• 5Y*: -4.65%
• 10Y*: —

DVQQ

• 1D: -2.44%
• 1M: -1.13%
• YTD: 14.40%
• 6M: 12.01%
• 1Y: 40.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XSHD vs. DVQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XSHD Invesco S&P SmallCap High Dividend Low Volatility ETF	9.24%	-6.41%	-4.40%
DVQQ WEBs QQQ Defined Volatility ETF	14.40%	18.03%	-7.84%

Correlation

The correlation between XSHD and DVQQ is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (All Time) Calculated using the full available price history since Dec 17, 2024	0.34

Return for Risk

XSHD vs. DVQQ — Risk / Return Rank

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

XSHD

XSHD Risk / Return Rank: 16
XSHD Sharpe Ratio Rank: 16
XSHD Sortino Ratio Rank: 15
XSHD Omega Ratio Rank: 14
XSHD Calmar Ratio Rank: 17
XSHD Martin Ratio Rank: 17

DVQQ

DVQQ Risk / Return Rank: 49
DVQQ Sharpe Ratio Rank: 54
DVQQ Sortino Ratio Rank: 46
DVQQ Omega Ratio Rank: 49
DVQQ Calmar Ratio Rank: 50
DVQQ Martin Ratio Rank: 47

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. DVQQ - 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 WEBs QQQ Defined Volatility ETF (DVQQ). 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.

	XSHD	DVQQ	Difference
Sharpe ratio: Return per unit of total volatility	0.46	1.68	-1.22
Sortino ratio: Return per unit of downside risk	0.78	2.14	-1.36
Omega ratio: Gain probability vs. loss probability	1.09	1.29	-0.20
Calmar ratio: Return relative to maximum drawdown	0.65	2.26	-1.61
Martin ratio: Return relative to average drawdown	1.76	7.24	-5.48

XSHD vs. DVQQ - Sharpe Ratio Comparison

The current XSHD Sharpe Ratio is 0.46, which is lower than the DVQQ Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of XSHD and DVQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

XSHD vs. DVQQ - Drawdown Comparison

The maximum XSHD drawdown since its inception was -49.53%, which is greater than DVQQ's maximum drawdown of -25.28%. Use the drawdown chart below to compare losses from any high point for XSHD and DVQQ.

Drawdown Indicators

	XSHD	DVQQ	Difference
Max Drawdown Largest peak-to-trough decline	-49.53%	-25.28%	-24.25%
Max Drawdown (1Y) Largest decline over 1 year	-10.51%	-17.89%	+7.38%
Max Drawdown (3Y) Largest decline over 3 years	-20.77%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-34.70%	—	—
Current Drawdown Current decline from peak	-23.92%	-6.11%	-17.81%
Average Drawdown Average peak-to-trough decline	-16.40%	-7.17%	-9.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.89%	5.57%	-1.68%

Volatility

XSHD vs. DVQQ - Volatility Comparison

The current volatility for Invesco S&P SmallCap High Dividend Low Volatility ETF (XSHD) is 3.90%, while WEBs QQQ Defined Volatility ETF (DVQQ) has a volatility of 9.57%. This indicates that XSHD experiences smaller price fluctuations and is considered to be less risky than DVQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XSHD	DVQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.90%	9.57%	-5.67%
Volatility (6M) Calculated over the trailing 6-month period	9.97%	17.92%	-7.95%
Volatility (1Y) Calculated over the trailing 1-year period	14.93%	24.14%	-9.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.85%	24.98%	-6.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.20%	24.98%	-2.78%

XSHD vs. DVQQ - Expense Ratio Comparison

XSHD has a 0.30% expense ratio, which is lower than DVQQ's 0.94% expense ratio.

Dividends

XSHD vs. DVQQ - Dividend Comparison

XSHD's dividend yield for the trailing twelve months is around 5.22%, more than DVQQ's 0.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DVQQ WEBs QQQ Defined Volatility ETF	0.03%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XSHD Invesco S&P SmallCap High Dividend Low Volatility ETF	5.22%	6.45%	7.25%	7.62%	6.77%	3.86%	5.55%	4.88%	5.49%	4.11%	0.41%

Frequently Asked Questions

Can I hold both XSHD and DVQQ in my portfolio?

XSHD and DVQQ have a correlation of 0.25, 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 DVQQ?

DVQQ has higher volatility (9.57%) compared to XSHD (3.90%). In terms of maximum drawdown, XSHD dropped -49.53% vs DVQQ's -25.28%.

Which ETF is better, XSHD or DVQQ?

On 1-year performance, DVQQ leads with 40.25% vs 6.83% for XSHD. On fees, XSHD is cheaper at 0.30% per year. On volatility, XSHD has been the lower-risk option at 3.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XSHD or DVQQ?

Over the 1-year period, DVQQ has performed better with a 40.25% return vs 6.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XSHD or DVQQ?

XSHD is cheaper with a 0.30% expense ratio, compared with 0.94% for DVQQ.

Which ETF pays a higher dividend yield, XSHD or DVQQ?

XSHD has the higher dividend yield at 5.22%, compared with 0.03% for DVQQ.

What is the main difference between XSHD and DVQQ?

XSHD is categorized as Volatility Hedged Equity, while DVQQ is Large Cap Growth Equities. XSHD tracks S&P SmallCap 600 Low Volatility High Dividend Index, while DVQQ tracks Syntax Defined Volatility Triple Qs Index. They also come from different issuers: Invesco and WEBs. Their fees differ too: 0.30% for XSHD and 0.94% for DVQQ.

Which has better risk-adjusted returns?

DVQQ currently has the higher Sharpe Ratio (1.68 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.