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BAFE vs SPHQ: Differences, Returns & Fees

BAFE and SPHQ hold 17% of their weight in the same names, and SPHQ returned +18.0% over the year. Net assets: $1.7bn on Jun 30, 2026 for Brown Advisory Flexible Equity ETF, and $19.1bn on Oct 9, 2026 for Invesco S&P 500 Quality ETF.

SPHQ costs 0.39 points a year less; their one-year returns differ by 5.7 points.

BAFE vs SPHQ: Differences, Returns & Fees
BAFESPHQ
Expense ratio0.54%0.15%
Net assets, BAFE as of Jun 30, 2026 and SPHQ as of Oct 9, 2026$1.7bn$19.1bn
Total return, 1 year+12.3%+18.0%
What it tracksNo index, actively managedS&P 500 Quality Index
Holdings in common17%
Holdings datedJun 30, 2026Oct 10, 2026
Top ten holdings, share of the fund42.2%43.7%
Below its high4.6%, high on Jun 30, 2026

Holdings in common uses holdings dated Jun 30, 2026 and Oct 9, 2026.

+12.3%
BAFE total return, 1 year
+18.0%
SPHQ total return, 1 year
0.54%
BAFE expense ratio
0.15%
SPHQ expense ratio

What they hold in common

By the books each fund has filed, BAFE and SPHQ hold 17% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Jun 30, 2026 and Oct 9, 2026.

half

17% in common

Positions both hold, largest shared weight first
Holding BAFE SPHQ
VISA INC. 4.07% 5.84%
MASTERCARD INCORPORATED 3.52% 5.90%
KLA CORPORATION 3.48% 2.52%
GENERAL ELECTRIC COMPANY 1.78% 3.37%
APPLE INC. 1.69% 5.65%
THE TJX COMPANIES, INC. 1.36% 1.39%
THE PROGRESSIVE CORPORATION 1.19% 1.36%
AUTODESK, INC. 0.88% 0.44%
OLD DOMINION FREIGHT LINE, INC. 0.73% 0.32%
Only in BAFE
Taiwan Semiconductor Manufacturing Company Limited 7.09%
MICROSOFT CORPORATION 4.85%
AMAZON.COM, INC. 4.33%
ALPHABET INC. 4.04%
ALPHABET INC. 3.83%
META PLATFORMS, INC. 3.64%
BERKSHIRE HATHAWAY INC. 3.33%
UNITEDHEALTH GROUP INCORPORATED 3.24%
Only in SPHQ
Lam Research Corp 4.30%
GE Vernova Inc 4.17%
Costco Wholesale Corp 3.96%
Cisco Systems Inc 3.81%
Netflix Inc 3.62%
Sandisk Corp 3.08%
Procter & Gamble Co/The 2.96%
Applied Materials Inc 2.62%

Check overlap with more funds →

On the same fields

BAFE
Brown Advisory Flexible Equity ETF
SPHQ
Invesco S&P 500 Quality ETF
Where it sits Stock ETF Stock ETF
Issuer BROWN Invesco
What it is Actively managed Tracks the S&P 500 Quality
Total return, 1 year +12.3% +18.0%
Its benchmark over the same days +17.3% (VOO) not published
Gap to its benchmark −5.0 pts vs VOO not available
Expense ratio 0.54% 0.15%
Already in the S&P 500 77.5% 100.0%
Holdings 44 102
Net assets, BAFE as of Jun 30, 2026 and SPHQ as of Oct 9, 2026 $1.7bn $19.1bn

BAFE and SPHQ on the fields both publish, as of Oct 9, 2026. Source: ETFIQ.

About BAFE

BAFE is actively managed and tracks no index. Over the year to Oct 9, 2026 it returned +12.3% with distributions reinvested, against +17.3% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.54% a year. By its holdings filed for Jun 30, 2026, 78% of the fund by weight is stocks the S&P 500 also holds, across 44 positions, with the top ten at 42.2%.

About SPHQ

SPHQ tracks the S&P 500 Quality. Over the year to Oct 9, 2026 it returned +18.0% with distributions reinvested. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Oct 10, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 102 positions, with the top ten at 43.7%. It sat 4.6% below its high of Jun 30, 2026 on Oct 9, 2026.

Questions people ask

Which returned more over the last year, BAFE or SPHQ?
In the year to Oct 9, 2026, with distributions reinvested, BAFE returned +12.3% and SPHQ +18.0%.
Which is cheaper, BAFE or SPHQ?
SPHQ is cheaper, by 0.39 percentage points a year. That is about $39 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do BAFE and SPHQ overlap with the S&P 500?
By their latest filed holdings, 78% of BAFE and 100% of SPHQ by weight is stocks the S&P 500 already holds.
Other comparisons
BAFE vs ESGUBAFE vs MTUMBAFE vs IWVBAFE vs DGRWQVML vs SPHQQUS vs SPHQEPS vs SPHQQDPL vs SPHQ
BAFE on its own →SPHQ on its own →Hold both: look the portfolio through →Rankings →Standards and sources →
Where these figures came from
BAFE filings on SEC EDGAR ↗BAFE prospectus with the expense ratio (SEC) ↗BROWN website ↗SPHQ filings on SEC EDGAR ↗SPHQ prospectus with the expense ratio (SEC) ↗Invesco page for SPHQ ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Cite this pageCitation, APA and Markdown

ETFIQ, BAFE against SPHQ, data as of Oct 9, 2026. https://etfiq.com/compare/any/bafe-vs-sphq

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.