SPHD — Invesco S&P 500 High Dividend Low Volatility ETF

SPHD Price Performance — Growth of $10,000

Value of a $10,000 investment in SPHD over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

SPHD Drawdown

The "underwater" chart: SPHD's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The Invesco S&P 500 High Dividend Low Volatility ETF (SPHD) is a Dividend Income fund issued by Invesco with $3.17 billion in assets under management. It holds a C grade and ranks 20th out of 20 peers in its category, placing it at the bottom of the group. The fund’s 0.3% expense ratio is slightly above the category median of 0.29%, while its 4.83% dividend yield significantly exceeds the median of 2.69%. The top 10 holdings comprise 30.3% of assets, with the largest position being the Invesco Private Prime Fund at 3.7%.

SPHD has delivered a 1-year return of 10.69%, which trails the category median of 17.96%. Short-term momentum shows a 1-month gain of 5.82%, contrasting with a 3-month decline of 1.38%. Year-to-date performance stands at 11.32%, and the fund is currently priced at $51.52, sitting at 66.2% of its 52-week range. The ETFValuer grade has remained unchanged at C over the last 35 tracked days. Price history is available for 3.0 years.

The fund exhibits a beta of 0.43, indicating it moves less than the broader market. Annualized volatility is 12.19%, which is labeled as Low, and the maximum drawdown has been -13.29%. A Sharpe ratio of 0.47 suggests modest risk-adjusted returns relative to the risk taken. Liquidity is supported by an average daily volume of 949,560 shares. These metrics collectively describe a historically stable but underperforming risk profile compared to category peers.

AI-generated summary based on the data on this page.

SPHD Top Holdings

Holdings as of 2026-05-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 30.3% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how SPHD's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With SPHD

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with SPHD's top 10 — DVY overlaps most, holding 4 of the same companies as SPHD's top 10 (12.5% of SPHD's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.96% (as of 2026-10-22) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 19.03 (as of 2026-10-22) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.75% (as of 2026-09-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

SPHD Liquidity, Domicile & Tax Treatment

Liquidity: Average daily volume is 950K/day. Higher volume and a larger fund generally mean lower round-trip trading costs. AUM of $3.17B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: SPHD is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

SPHD Performance History

How SPHD Compares to Other Dividend Income ETFs