SPHQ vs VYM
Invesco S&P 500 Quality ETF vs Vanguard High Dividend Yield ETF
Which is better, SPHQ or VYM?
Large Cap Blend against Large Cap Value.
VYM has a lower expense ratio. SPHQ led over 1Y, 3Y, 5Y and the full window. VYM is less concentrated, with 26.1% of the fund in its ten largest positions against 43.1%.
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 | SPHQ | VYM |
|---|---|---|
| Expense Ratio | 0.15% | 0.04%Best |
| AUM | $18.7B | $81.6B |
| Dividend Yield | 1.10% | 2.22% |
| Holdings | 102 | 613 |
| YTD Return | +12.87%Best | +10.23% |
| 1Y Return | +16.50%Best | +14.28% |
| 3Y Return (annualized) | +20.05%Best | +17.50% |
| 5Y Return (annualized) | +12.48%Best | +11.60% |
| Volatility (annualized) | 15.3% | 14.6%Best |
| Max Drawdown | -57.8%Best | -58.8% |
| $10,000 over 5 years | $18,004Best | $17,311 |
| Top 10 Weight | 43.1% | 26.1%Best |
| Fund Family | Invesco (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Value |
| Inception | Dec 6, 2005 | Nov 10, 2006 |
Volatility and max drawdown are measured over the window both funds cover: Nov 16, 2006 to Sep 23, 2026 (19.9 years).
SPHQ 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 19.9 years both funds cover.
SPHQ vs VYM Performance
Invesco S&P 500 Quality ETF (SPHQ) is an ETF from Invesco (US) and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year SPHQ returned +16.50% while VYM returned +14.28%. Year to date, SPHQ is up 12.87% versus a gain of 10.23% for VYM.
Over three years, SPHQ compounded at +20.05% per year against +17.50% for VYM; over five years the annualized figures are +12.48% and +11.60% respectively. Across the full 20-year window we track, SPHQ has the edge at +9.27% annualized vs +6.76%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPHQ has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 14.6% 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 -57.8% for SPHQ and -58.8% 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 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPHQ charges 0.15% per year while VYM charges 0.04%. On a $10,000 position that is $15 vs $4 annually, a gap of $11 per year that compounds over a long holding period. On income, SPHQ currently yields 1.10% against 2.22% for VYM.
Holdings Overlap
29.0% of SPHQ's money is in holdings VYM also owns. 11.8% of VYM's money is in holdings SPHQ also owns.
SPHQ and VYM share little of their money.
41 positions in common, counted across the 100 positions we hold weights for in SPHQ and 557 in VYM, against full books of 102 and 613.
What only one of them owns
Our book lists 487 positions for VYM that do not appear in our book for SPHQ (85.3% of the fund), and 58 for SPHQ that do not appear in VYM (70.8%).
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 SPHQ | Weight in VYM | Difference |
|---|---|---|---|
| CSCOCisco Systems Inc. - Ordinary Shares | 3.54% | 1.86% | 1.68% |
| PGProcter & Gamble Company | 2.85% | 1.37% | 1.48% |
| TXNTexas Instrument Inc | 2.09% | 1.02% | 1.07% |
| QCOMQualcomm Inc. | 2.35% | 0.63% | 1.72% |
| NEMNewmont Corp Common | 1.94% | 0.41% | 1.53% |
| PGRProgressive Corporation | 1.37% | 0.50% | 0.87% |
| ADPAutomatic Data Processing, Inc. | 1.11% | 0.43% | 0.68% |
| LMTLockheed Martin Corp | 1.05% | 0.48% | 0.57% |
| VLOValero Energy | 0.96% | 0.38% | 0.58% |
| JCIJohnson Controls Intl Plc | 0.90% | 0.36% | 0.54% |
29.0% of SPHQ 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, SPHQ or VYM?
SPHQ has an expense ratio of 0.15% while VYM charges 0.04%. VYM is the cheaper option, by $11 a year on a $10,000 investment.
Which performed better, SPHQ or VYM?
Over the past year SPHQ returned +16.50% vs +14.28% for VYM, so SPHQ leads on 1-year performance. Over the longest common window we track (20 years), SPHQ annualized +9.27% vs +6.76% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPHQ or VYM?
SPHQ has been the more volatile fund at 15.3% annualized versus 14.6% for VYM. Worst drawdown: SPHQ -57.8% vs VYM -58.8%.
Should I hold both SPHQ and VYM?
SPHQ and VYM have a monthly-return correlation of 0.83, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between SPHQ and VYM?
29.0% of SPHQ's money is in holdings VYM also owns. 11.8% of VYM's is in holdings SPHQ also owns. They hold 41 positions in common, counted across the 100 positions we hold weights for in SPHQ and 557 in VYM.
Which pays a higher dividend, SPHQ or VYM?
SPHQ yields 1.10% while VYM yields 2.22%, so VYM currently pays the higher dividend yield.
Is VYM better than SPHQ?
VYM has a lower expense ratio. SPHQ led over 1Y, 3Y, 5Y and the full window. VYM is less concentrated, with 26.1% of the fund in its ten largest positions against 43.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.