XSVM vs. SPHD
XSVM (Invesco S&P SmallCap Value with Momentum ETF) and SPHD (Invesco S&P 500® High Dividend Low Volatility ETF) are both exchange-traded funds - XSVM is a Momentum fund tracking the S&P SmallCap 600 High Momentum Value Index, while SPHD is a Dividend fund tracking the S&P 500 Low Volatility High Dividend Index. Both are passively managed. Over the past 10 years, XSVM returned 13.32%/yr vs 7.55%/yr for SPHD. A 0.69 correlation means they provide meaningful diversification when combined. XSVM charges 0.37%/yr vs 0.30%/yr for SPHD.
Performance
XSVM vs. SPHD - Performance Comparison
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Returns By Period
In the year-to-date period, XSVM achieves a 20.98% return, which is significantly higher than SPHD's 8.20% return. Over the past 10 years, XSVM has outperformed SPHD with an annualized return of 13.32%, while SPHD has yielded a comparatively lower 7.55% annualized return.
XSVM
- 1D
- 0.77%
- 1M
- 3.66%
- YTD
- 20.98%
- 6M
- 18.82%
- 1Y
- 37.12%
- 3Y*
- 17.66%
- 5Y*
- 7.87%
- 10Y*
- 13.32%
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%
XSVM vs. SPHD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XSVM Invesco S&P SmallCap Value with Momentum ETF | 20.98% | 7.47% | 2.30% | 20.20% | -13.63% | 56.36% | 5.08% | 30.01% | -12.33% | 3.62% |
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% | 11.90% |
Correlation
The correlation between XSVM and SPHD is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2012 | 0.69 |
The correlation between XSVM and SPHD has been stable across timeframes, ranging from 0.61 to 0.69 - a consistent structural relationship.
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Return for Risk
XSVM vs. SPHD — Risk / Return Rank
XSVM
SPHD
XSVM vs. SPHD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Value with Momentum ETF (XSVM) 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.
| XSVM | SPHD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.97 | ||
| Sortino ratioReturn per unit of downside risk | +1.32 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.18 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 3.70 | 1.66 | +2.04 |
| Martin ratioReturn relative to average drawdown | 11.45 | 4.06 | +7.38 |
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Drawdowns
XSVM vs. SPHD - Drawdown Comparison
The maximum XSVM drawdown since its inception was -62.57%, which is greater than SPHD's maximum drawdown of -41.39%. Use the drawdown chart below to compare losses from any high point for XSVM and SPHD.
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Drawdown Indicators
| XSVM | SPHD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.57% | -41.39% | -21.18% |
Max Drawdown (1Y)Largest decline over 1 year | -10.08% | -7.33% | -2.75% |
Max Drawdown (3Y)Largest decline over 3 years | -26.21% | -13.29% | -12.92% |
Max Drawdown (5Y)Largest decline over 5 years | -26.21% | -19.50% | -6.71% |
Max Drawdown (10Y)Largest decline over 10 years | -49.02% | -41.39% | -7.63% |
Current DrawdownCurrent decline from peak | -0.73% | -1.91% | +1.18% |
Average DrawdownAverage peak-to-trough decline | -11.54% | -4.69% | -6.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.25% | 2.98% | +0.27% |
Volatility
XSVM vs. SPHD - Volatility Comparison
Invesco S&P SmallCap Value with Momentum ETF (XSVM) has a higher volatility of 4.63% compared to Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) at 4.26%. This indicates that XSVM'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.
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Volatility by Period
| XSVM | SPHD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.63% | 4.26% | +0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 12.28% | 8.13% | +4.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.54% | 11.48% | +7.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.55% | 14.16% | +8.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.07% | 17.65% | +7.42% |
XSVM vs. SPHD - Expense Ratio Comparison
XSVM has a 0.37% expense ratio, which is higher than SPHD's 0.30% expense ratio.
Dividends
XSVM vs. SPHD - Dividend Comparison
XSVM's dividend yield for the trailing twelve months is around 1.82%, 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% |
XSVM Invesco S&P SmallCap Value with Momentum ETF | 1.82% | 2.29% | 1.69% | 1.31% | 1.79% | 1.23% | 1.21% | 1.22% | 2.54% | 1.90% | 2.29% | 2.68% |
Frequently Asked Questions
XSVM and SPHD have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XSVM has higher volatility (4.63%) compared to SPHD (4.26%). In terms of maximum drawdown, XSVM dropped -62.57% vs SPHD's -41.39%.
On 10-year performance, XSVM leads with 13.32% vs 7.55% for SPHD. On fees, SPHD is cheaper at 0.30% per year. On volatility, SPHD has been the lower-risk option at 4.26%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, XSVM has performed better with a 13.32% return vs 7.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPHD is cheaper with a 0.30% expense ratio, compared with 0.37% for XSVM.
SPHD has the higher dividend yield at 4.60%, compared with 1.82% for XSVM.
XSVM is categorized as Momentum, while SPHD is Dividend. XSVM tracks S&P SmallCap 600 High Momentum Value Index, while SPHD tracks S&P 500 Low Volatility High Dividend Index. Their fees differ too: 0.37% for XSVM and 0.30% for SPHD.
XSVM currently has the higher Sharpe Ratio (2.03 vs 1.06), 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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