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Data as of Oct 28, 2026.

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Across categories

PFF vs SPHD: Differences, Returns & Fees

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Over the year to Oct 28, 2026, PFF returned −4.2% to SPHD's +11.0%; 3% of their weight is in the same names.

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Net assets on Oct 27, 2026: $11.8bn for iShares Preferred and Income Securities ETF and $3.3bn for Invesco S&P 500 High Dividend Low Volatility ETF.

PFF on its own →SPHD on its own →
At a glance
−4.2%
PFF total return, 1 year
+11.0%
SPHD total return, 1 year
0.45%
PFF expense ratio
0.30%
SPHD expense ratio

Pair scorecard

SPHD costs 0.15 points a year less; their one-year returns differ by 15.2 points; PFF is 3.6 times larger.

PFF vs SPHD: Differences, Returns & Fees
MeasurePFFSPHD
Return
Total return, 1 year−4.2%+11.0%
Drawdown
Below its high7.1%, high on May 8, 20264.2%, high on Aug 24, 2026
Benchmark
What it tracksICE Exchange-Listed Preferred & Hybrid Securities IndexS&P 500 Low Volatility High Dividend Index
Cost and size
Expense ratio0.45%0.30%
Net assets, as of Oct 27, 2026$11.8bn$3.3bn
Holdings
Holdings in common3%
Top ten holdings, share of the fund22.7%28.2%

Holdings in common uses holdings dated Oct 27, 2026. Method

What they share

3%

By the books each fund has filed, PFF and SPHD hold 3% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.

0 half 100%

half

3% in common

Positions both hold · largest shared weight first PFF SPHD
AT&T INC 0.53% 2.30%
DUKE ENERGY CORP 0.45% 1.53%
TRUIST FINANCIAL DRC CORP 0.32% 1.83%
KEYCORP 0.30% 1.52%
REGIONS FINANCIAL CORPORATION 0.25% 1.51%
SCE TRUST VII 0.24% 1.59%
PRUDENTIAL FINANCIAL INC 0.22% 2.30%
HUNTINGTON BANCSHARES INC 0.16% 1.40%
EL PASO ENERGY CAPITAL TRUST I 0.11% 1.78%
Only in one fund ↓
Only in PFF
STRATEGY INC 3.53%
BOEING CO 3.11%
HEWLETT PACKARD ENTERPRISE CONV PR 2.36%
ALPHABET INC 2.31%
SUPER MICRO COMPUTER INC 2.27%
ALPHABET INC 2.26%
WELLS FARGO & COMPANY SERIES L 2.14%
ORACLE CORPORATION 2.06%
Only in SPHD
Pfizer Inc 3.74%
Verizon Communications Inc 3.10%
Crown Castle Inc 2.97%
Kraft Heinz Co 2.89%
General Mills Inc 2.88%
Altria Group Inc 2.80%
VICI Properties Inc 2.78%
Comcast Corp 2.36%
Check overlap with more funds →

Side by side

PFF iShares Preferred and Income Securities ETF SPHD Invesco S&P 500 High Dividend Low Volatility ETF
Where it sits Bond ETF Stock ETF
Issuer iShares Invesco
What it is Tracks an index of Preferred and Income Securities Tracks the S&P 500 High Dividend Low Volatility
Total return, 1 year −4.2% +11.0%
Its benchmark over the same days +13.6% (MLRG) not measured
Gap to its benchmark −17.8 pts vs MLRG not measured
Expense ratio 0.45% 0.30%
Already in the S&P 500 0.0% 95.2%
Holdings 453 59
Net assets, as of Oct 27, 2026 $11.8bn $3.3bn

PFF and SPHD on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

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About each fund
PFF

PFF tracks an index of Preferred and Income Securities. Over the year to Oct 28, 2026 it returned −4.2% with distributions reinvested, against +13.6% for its benchmark, the MSCI USA Index. The prospectus expense ratio is 0.45% a year. By its holdings published by its issuer for Oct 27, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 453 positions, with the top ten at 22.7%. It sat 7.1% below its high of May 8, 2026 on Oct 28, 2026.

SPHD

SPHD tracks the S&P 500 High Dividend Low Volatility. Over the year to Oct 28, 2026 it returned +11.0% with distributions reinvested. The prospectus expense ratio is 0.30% a year. By its holdings published by its issuer for Oct 27, 2026, 95% of the fund by weight is stocks the S&P 500 also holds, across 59 positions, with the top ten at 28.2%. It sat 4.2% below its high of Aug 24, 2026 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, PFF or SPHD?
In the year to Oct 28, 2026, with distributions reinvested, PFF returned −4.2% and SPHD +11.0%.
Which is cheaper, PFF or SPHD?
SPHD is cheaper, by 0.15 percentage points a year. That is about $15 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do PFF and SPHD overlap with the S&P 500?
By their latest filed holdings, 0% of PFF and 95% of SPHD by weight is stocks the S&P 500 already holds.
Other comparisons
PFF vs SPYDPFF vs PVALAVLV vs PFFFNDX vs PFFSPHD vs SPSBEMB vs SPHDSPHD vs VGLTSPHD vs TIP
Where to next
PFF on its own →SPHD on its own →Hold both: look the portfolio through →Rankings →PFF dividend history →PFF holdings →SPHD dividend history →SPHD holdings →Standards and sources →
Sources and dates
PFF filings on SEC EDGAR ↗
PFF prospectus with the expense ratio (SEC) ↗
iShares page for PFF ↗
SPHD filings on SEC EDGAR ↗
SPHD prospectus with the expense ratio (SEC) ↗
Invesco page for SPHD ↗

Links are sources, not endorsements. 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.

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ETFIQ, PFF against SPHD, data as of Oct 28, 2026. https://etfiq.com/compare/any/pff-vs-sphd

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