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) operates within the Dividend Income category, which ETFValuer tracks with a total of 20 funds. Issued by Invesco, the fund has accumulated assets under management of $3.31 billion while trading at a price of $52.10. It holds an overall rank of #242 out of 458 tracked ETFs across all categories and has received an ETFValuer grade of C with a score of 59.7 out of 100. Investors in this fund face an annual expense ratio of 0.3% and currently receive a dividend yield of 4.58%. The substantial asset base relative to the category size suggests significant investor adoption for this specific high-dividend strategy. These metrics collectively define the fund's position as a mid-tier option within its specific niche of dividend-focused investing.

Short-term performance shows a decline over the last day at -0.57% and a further drop of -1.63% over the past week. However, the trend reverses into positive territory over the one-month horizon with a return of +3.28%, which accelerates to +7.04% over three months. This upward momentum continues through the six-month period with an +8.31% gain, while year-to-date returns stand at +11.21%. The one-year return is recorded at +11.42%, indicating a slight deceleration compared to the year-to-date pace. Over the longer three-year horizon, the fund has generated a cumulative return of +39.16%. This pattern illustrates a recovery from recent short-term weakness into sustained positive performance across medium and long-term intervals.

The fund carries a volatility label of Low and a beta of 0.47, indicating that its price movements are generally less sensitive to broader market fluctuations. A Sharpe ratio of 0.55 suggests the fund has generated moderate risk-adjusted returns relative to the risk taken. During market stress, the maximum drawdown was recorded at -13.29%, reflecting the fund's capacity to limit downside losses compared to higher volatility peers. The combination of a low beta and a low volatility label implies a defensive posture that typically results in smaller swings during both up and down markets. While the Sharpe ratio indicates reasonable compensation for the risk, the maximum drawdown figure provides a concrete measure of the worst-case scenario experienced by investors. These four metrics together characterize the fund as a lower-risk vehicle designed to provide income with reduced price instability.

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

SPHD Top Holdings

Holdings as of 2026-02-28 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 30.7% 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 3 of the same companies as SPHD's top 10 (9.5% 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: 4.71% (as of 2026-07-23) — 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): 18.70 (as of 2026-07-23) — 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: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

SPHD Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 0.38% and average daily volume is 793K/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $3.31B 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