SPHD vs VYM
Invesco S&P 500 High Dividend Low Volatility ETF vs Vanguard High Dividend Yield ETF
Which is better, SPHD or VYM?
VYM has been ahead.
VYM has a lower expense ratio. VYM led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.90. VYM is less concentrated, with 26.1% of the fund in its ten largest positions against 28.6%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | SPHD | VYM |
|---|---|---|
| Expense Ratio | 0.30% | 0.04%Best |
| AUM | $3.4B | $81.6B |
| Dividend Yield | 4.66% | 2.22% |
| Holdings | 60 | 613 |
| YTD Return | +7.67% | +11.35%Best |
| 1Y Return | +7.35% | +15.34%Best |
| 3Y Return (annualized) | +11.82% | +17.22%Best |
| 5Y Return (annualized) | +7.68% | +12.30%Best |
| Volatility (annualized) | 14.3% | 13.2%Best |
| Max Drawdown | -42.1% | -35.7%Best |
| $10,000 over 5 years | $14,477 | $17,861Best |
| Top 10 Weight | 28.6% | 26.1%Best |
| Fund Family | Invesco (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Oct 18, 2012 | Nov 10, 2006 |
Volatility and max drawdown are measured over the window both funds cover: Oct 18, 2012 to Sep 18, 2026 (13.9 years).
SPHD vs VYM growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 13.9 years both funds cover.
SPHD vs VYM Performance
Invesco S&P 500 High Dividend Low Volatility ETF (SPHD) is an ETF from Invesco (US) and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year SPHD returned +7.35% while VYM returned +15.34%. Year to date, SPHD is up 7.67% versus a gain of 11.35% for VYM.
Over three years, SPHD compounded at +11.82% per year against +17.22% for VYM; over five years the annualized figures are +7.68% and +12.30% respectively. Across the full 14-year window we track, VYM has the edge at +9.73% annualized vs +6.67%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPHD has been the more volatile fund, with annualized monthly volatility of 14.3% compared with 13.2% for VYM. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -42.1% for SPHD and -35.7% for VYM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.90. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
SPHD charges 0.30% per year while VYM charges 0.04%. On a $10,000 position that is $30 vs $4 annually, a gap of $26 per year that compounds over a long holding period. On income, SPHD currently yields 4.66% against 2.22% for VYM.
Holdings Overlap
78.0% of SPHD's money is in holdings VYM also owns. 13.4% of VYM's money is in holdings SPHD also owns.
Most of SPHD is already inside VYM. Owning both mostly buys the same companies twice.
40 positions in common, counted across the 51 positions we hold weights for in SPHD and 557 in VYM, against full books of 60 and 613.
What only one of them owns
Our book lists 488 positions for VYM that do not appear in our book for SPHD (83.6% of the fund), and 11 for SPHD that do not appear in VYM (22.0%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in SPHD | Weight in VYM | Difference |
|---|---|---|---|
| VZVerizon Communic | 3.32% | 0.80% | 2.52% |
| PFEPfizer Inc | 3.46% | 0.58% | 2.88% |
| XOMExxon Mobil Corp. | 1.39% | 2.63% | 1.24% |
| CVXChevron Corp | 2.02% | 1.48% | 0.54% |
| GISGeneral Mills In | 3.32% | 0.08% | 3.24% |
| TBBAt&t Inc | 2.68% | 0.64% | 2.04% |
| CMCSAComcast Corp-class A Cmcsa | 2.71% | 0.34% | 2.37% |
| KHCKraft Heinz Co. | 2.94% | 0.09% | 2.85% |
| MOAltria Group Inc | 2.49% | 0.46% | 2.03% |
| PEPPepsico Inc. | 1.95% | 0.77% | 1.18% |
78.0% of SPHD is already inside VYM.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SPHD or VYM?
SPHD has an expense ratio of 0.30% while VYM charges 0.04%. VYM is the cheaper option, by $26 a year on a $10,000 investment.
Which performed better, SPHD or VYM?
Over the past year SPHD returned +7.35% vs +15.34% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (14 years), SPHD annualized +6.67% vs +9.73% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPHD or VYM?
SPHD has been the more volatile fund at 14.3% annualized versus 13.2% for VYM. Worst drawdown: SPHD -42.1% vs VYM -35.7%.
Should I hold both SPHD and VYM?
SPHD and VYM have a monthly-return correlation of 0.90, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between SPHD and VYM?
78.0% of SPHD's money is in holdings VYM also owns. 13.4% of VYM's is in holdings SPHD also owns. They hold 40 positions in common, counted across the 51 positions we hold weights for in SPHD and 557 in VYM.
Which pays a higher dividend, SPHD or VYM?
SPHD yields 4.66% while VYM yields 2.22%, so SPHD currently pays the higher dividend yield.
Is VYM better than SPHD?
VYM has a lower expense ratio. VYM led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.90. VYM is less concentrated, with 26.1% of the fund in its ten largest positions against 28.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.