A
vs
B
Share
Compare their flowsAsk IQ about these two funds

FQAL vs SPHQ: Differences, Returns & Fees

FQAL and SPHQ hold 30% of their weight in the same names, and SPHQ returned +18.0% over the year. Net assets: $1.4bn on Sep 30, 2026 for Fidelity Quality Factor ETF, and $19.1bn on Oct 9, 2026 for Invesco S&P 500 Quality ETF.

Both cost 0.15% a year; their one-year returns differ by 2.8 points; SPHQ is 13.8 times larger.

FQAL vs SPHQ: Differences, Returns & Fees
FQALSPHQ
Expense ratio0.15%0.15%
Net assets, as of Jul 31, 2026$1.4bn$19.4bn
Total return, 1 year+15.2%+18.0%
What it tracksFidelity U.S. Quality Factor IndexS&P 500 Quality Index
Holdings in common30%
Holdings datedJul 31, 2026Oct 10, 2026
Top ten holdings, share of the fund38.1%43.7%
Below its high4.6%, high on Jun 30, 2026

Holdings in common uses holdings dated Jul 31, 2026 and Oct 9, 2026.

+15.2%
FQAL total return, 1 year
+18.0%
SPHQ total return, 1 year
0.15%
FQAL expense ratio
0.15%
SPHQ expense ratio

What they hold in common

By the books each fund has filed, FQAL and SPHQ hold 30% 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 Jul 31, 2026 and Oct 9, 2026.

half

30% in common

Positions both hold, largest shared weight first
Holding FQAL SPHQ
APPLE INC 7.22% 5.65%
APPLIED MATERIALS INC 1.54% 2.62%
VISA INC 1.48% 5.84%
CISCO SYSTEMS INC 1.46% 3.81%
SEAGATE TECHNOLOGY HOLDINGS PLC 1.42% 1.37%
LAM RESEARCH CORP 1.31% 4.30%
FORTINET INC 1.27% 1.73%
MASTERCARD INC 1.23% 5.90%
KLA CORP 1.13% 2.52%
GE AEROSPACE 0.97% 3.37%
QUALCOMM INC 0.78% 2.42%
AIRBNB INC 1.06% 0.77%
Only in FQAL
NVIDIA CORP 7.69%
MICROSOFT CORP 5.62%
ALPHABET INC 5.58%
BROADCOM INC 3.36%
JPMORGAN CHASE and CO 1.97%
META PLATFORMS INC 1.90%
ELI LILLY and CO 1.77%
JOHNSON and JOHNSON 1.37%
Only in SPHQ
GE Vernova Inc 4.17%
Costco Wholesale Corp 3.96%
Sandisk Corp 3.08%
Texas Instruments Inc 2.27%
Western Digital Corp 2.24%
Intuitive Surgical Inc 1.47%
AppLovin Corp 1.44%
TJX Cos Inc/The 1.39%

Check overlap with more funds →

On the same fields

FQAL
Fidelity Quality Factor ETF
SPHQ
Invesco S&P 500 Quality ETF
Where it sits Stock ETF Stock ETF
Issuer Fidelity Invesco
What it is Tracks an index Tracks the S&P 500 Quality
Total return, 1 year +15.2% +18.0%
Expense ratio 0.15% 0.15%
Already in the S&P 500 94.0% 100.0%
Holdings 124 102
Net assets, FQAL as of Sep 30, 2026 and SPHQ as of Oct 9, 2026 $1.4bn $19.1bn

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

About FQAL

FQAL tracks an index. Over the year to Oct 9, 2026 it returned +15.2% with distributions reinvested. The prospectus expense ratio is 0.15% a year. By its holdings filed for Jul 31, 2026, 94% of the fund by weight is stocks the S&P 500 also holds, across 124 positions, with the top ten at 38.1%.

About SPHQ

SPHQ tracks the S&P 500 Quality. Over the year to Oct 9, 2026 it returned +18.0% with distributions reinvested. 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, FQAL or SPHQ?
In the year to Oct 9, 2026, with distributions reinvested, FQAL returned +15.2% and SPHQ +18.0%.
Which is cheaper, FQAL or SPHQ?
Neither: FQAL and SPHQ both charge 0.15% a year. Fees come from each fund's prospectus.
How much do FQAL and SPHQ overlap with the S&P 500?
By their latest filed holdings, 94% of FQAL and 100% of SPHQ by weight is stocks the S&P 500 already holds.
Other comparisons
ESGU vs FQALFQAL vs MTUMFQAL vs IWVFQAL vs OEFQQQE vs SPHQLRGC vs SPHQFVAL vs SPHQSPHQ vs USXF
FQAL on its own →SPHQ on its own →Hold both: look the portfolio through →Rankings →Standards and sources →
Where these figures came from
FQAL filings on SEC EDGAR ↗FQAL prospectus with the expense ratio (SEC) ↗Fidelity 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, FQAL against SPHQ, data as of Oct 9, 2026. https://etfiq.com/compare/any/fqal-vs-sphq

Open data

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