XSHQ vs. SPHD
XSHQ (Invesco S&P SmallCap Quality ETF) and SPHD (Invesco S&P 500® High Dividend Low Volatility ETF) are both exchange-traded funds - XSHQ is a Small Cap Growth Equities fund tracking the S&P SmallCap 600 Quality Index, while SPHD is a Dividend fund tracking the S&P 500 Low Volatility High Dividend Index. Both are passively managed. Over the past 5 years, XSHQ returned 6.38%/yr vs 7.06%/yr for SPHD. A 0.63 correlation means they provide meaningful diversification when combined. XSHQ charges 0.29%/yr vs 0.30%/yr for SPHD.
Performance
XSHQ vs. SPHD - Performance Comparison
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Returns By Period
In the year-to-date period, XSHQ achieves a 11.54% return, which is significantly higher than SPHD's 8.20% return.
XSHQ
- 1D
- -0.74%
- 1M
- 2.36%
- YTD
- 11.54%
- 6M
- 9.12%
- 1Y
- 17.70%
- 3Y*
- 12.17%
- 5Y*
- 6.38%
- 10Y*
- —
SPHD
- 1D
- 1.63%
- 1M
- 0.82%
- YTD
- 8.20%
- 6M
- 8.56%
- 1Y
- 12.09%
- 3Y*
- 12.70%
- 5Y*
- 7.06%
- 10Y*
- 7.55%
XSHQ vs. SPHD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XSHQ Invesco S&P SmallCap Quality ETF | 11.54% | 0.89% | 7.49% | 23.88% | -15.01% | 23.99% | 11.81% | 17.37% | -6.11% | 7.18% |
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 8.20% | 3.41% | 18.08% | 1.32% | 0.58% | 24.98% | -9.98% | 20.26% | -6.17% | 7.10% |
Correlation
The correlation between XSHQ 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 | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Aug 24, 2017 | 0.63 |
The correlation between XSHQ and SPHD shifts across timeframes, from 0.49 (1 year) to 0.64 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
XSHQ vs. SPHD — Risk / Return Rank
XSHQ
SPHD
XSHQ vs. SPHD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Quality ETF (XSHQ) 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.
| XSHQ | SPHD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.18 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.73 | 1.66 | +0.07 |
| Martin ratioReturn relative to average drawdown | 4.75 | 4.06 | +0.69 |
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Drawdowns
XSHQ vs. SPHD - Drawdown Comparison
The maximum XSHQ drawdown since its inception was -38.33%, smaller than the maximum SPHD drawdown of -41.39%. Use the drawdown chart below to compare losses from any high point for XSHQ and SPHD.
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Drawdown Indicators
| XSHQ | SPHD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.33% | -41.39% | +3.06% |
Max Drawdown (1Y)Largest decline over 1 year | -10.27% | -7.33% | -2.94% |
Max Drawdown (3Y)Largest decline over 3 years | -27.34% | -13.29% | -14.05% |
Max Drawdown (5Y)Largest decline over 5 years | -27.34% | -19.50% | -7.84% |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.39% | — |
Current DrawdownCurrent decline from peak | -0.74% | -1.91% | +1.17% |
Average DrawdownAverage peak-to-trough decline | -9.29% | -4.69% | -4.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.74% | 2.98% | +0.76% |
Volatility
XSHQ vs. SPHD - Volatility Comparison
Invesco S&P SmallCap Quality ETF (XSHQ) and Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) have volatilities of 4.09% and 4.26%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XSHQ | SPHD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.09% | 4.26% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 11.87% | 8.13% | +3.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.52% | 11.48% | +6.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.22% | 14.16% | +7.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.09% | 17.65% | +5.44% |
XSHQ vs. SPHD - Expense Ratio Comparison
XSHQ has a 0.29% expense ratio, which is lower than SPHD's 0.30% expense ratio.
Dividends
XSHQ vs. SPHD - Dividend Comparison
XSHQ's dividend yield for the trailing twelve months is around 1.21%, less than SPHD's 4.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 4.60% | 4.02% | 3.41% | 4.48% | 3.89% | 3.45% | 4.89% | 4.07% | 4.40% | 3.14% | 3.83% | 3.49% |
XSHQ Invesco S&P SmallCap Quality ETF | 1.21% | 1.48% | 1.18% | 1.15% | 2.02% | 1.25% | 1.24% | 1.11% | 1.16% | 0.60% | 0.00% | 0.00% |
Frequently Asked Questions
XSHQ 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 (4.26%) compared to XSHQ (4.09%). In terms of maximum drawdown, XSHQ dropped -38.33% vs SPHD's -41.39%.
On 5-year performance, SPHD leads with 7.06% vs 6.38% for XSHQ. On fees, XSHQ is cheaper at 0.29% per year. On volatility, XSHQ has been the lower-risk option at 4.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SPHD has performed better with a 7.06% return vs 6.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XSHQ is cheaper with a 0.29% expense ratio, compared with 0.30% for SPHD.
SPHD has the higher dividend yield at 4.60%, compared with 1.21% for XSHQ.
XSHQ is categorized as Small Cap Growth Equities, while SPHD is Dividend. XSHQ tracks S&P SmallCap 600 Quality Index, while SPHD tracks S&P 500 Low Volatility High Dividend Index. Their fees differ too: 0.29% for XSHQ and 0.30% for SPHD.
SPHD currently has the higher Sharpe Ratio (1.06 vs 1.02), 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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