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RWL vs SPHD: Differences, Returns & Fees

RWL and SPHD hold 9% of their weight in the same names, and RWL returned +21.1% over the year. Net assets on Oct 9, 2026: $10.0bn for Invesco S&P 500 Revenue ETF and $3.2bn for Invesco S&P 500 High Dividend Low Volatility ETF.

SPHD costs 0.09 points a year less; their one-year returns differ by 15.5 points; RWL is 3.2 times larger.

RWL vs SPHD: Differences, Returns & Fees
RWLSPHD
Expense ratio0.39%0.30%
Net assets$10.0bn$3.2bn
Total return, 1 year+21.1%+5.6%
What it tracksS&P 500 Revenue-Weighted IndexS&P 500 Low Volatility High Dividend Index
Holdings in common9%
Holdings datedOct 10, 2026Oct 10, 2026
Top ten holdings, share of the fund24.0%28.2%
Below its high8.4%, high on Aug 24, 2026

Holdings in common uses holdings dated Oct 9, 2026.

+21.1%
RWL total return, 1 year
+5.6%
SPHD total return, 1 year
0.39%
RWL expense ratio
0.30%
SPHD expense ratio

What they hold in common

By the books each fund has filed, RWL and SPHD hold 9% 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 Oct 9, 2026.

half

9% in common

Positions both hold, largest shared weight first
Holding RWL SPHD
ExxonMobil Holdings Corp 1.88% 1.59%
Chevron Corp 1.05% 2.26%
Verizon Communications Inc 0.59% 3.08%
AT&T Inc 0.57% 2.55%
Comcast Corp 0.54% 2.35%
PepsiCo Inc 0.45% 1.93%
Pfizer Inc 0.33% 3.72%
Prudential Financial Inc 0.31% 2.37%
ConocoPhillips 0.31% 1.75%
Bristol-Myers Squibb Co 0.23% 2.09%
Honeywell International Inc 0.20% 1.83%
ONEOK Inc 0.19% 2.31%
Only in RWL
Amazon.com Inc 4.05%
Walmart Inc 3.89%
Apple Inc 2.50%
UnitedHealth Group Inc 2.18%
McKesson Corp 2.17%
Berkshire Hathaway Inc 1.97%
CVS Health Corp 1.88%
Microsoft Corp 1.81%
Only in SPHD
CME E Mini Health Care Select Sector Futures 0.15%
E-mini S&P Real Estate Select Sector Stock Index Futures 0.14%
CME E Mini Consumer Staples Select Sector Futures 0.13%
CME E Mini Energy Select Sector Futures 0.05%
CONTRA FUTURE XAE ENERGY DEC26IXPZ6 -0.05%
CONTRA FUTURE XAP CONS STAPLES DEC26IXRZ6 -0.13%
CONTRA FUTURE EMINI S&P REESTATEDEC26XARZ6 -0.14%
CONTRA FUTURE XAV HEALTH CARE DEC26IXCZ6 -0.15%

Check overlap with more funds →

On the same fields

RWL
Invesco S&P 500 Revenue ETF
SPHD
Invesco S&P 500 High Dividend Low Volatility ETF
Where it sits Stock ETF Stock ETF
Issuer Invesco Invesco
What it is Tracks an index Tracks the S&P 500 High Dividend Low Volatility
Total return, 1 year +21.1% +5.6%
Expense ratio 0.39% 0.30%
Already in the S&P 500 99.4% 95.2%
Holdings 505 59
Net assets $10.0bn $3.2bn

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

About RWL

RWL tracks an index. Over the year to Oct 9, 2026 it returned +21.1% with distributions reinvested. The prospectus expense ratio is 0.39% a year. By its holdings published by its issuer for Oct 10, 2026, 99% of the fund by weight is stocks the S&P 500 also holds, across 505 positions, with the top ten at 24.0%.

About SPHD

SPHD tracks the S&P 500 High Dividend Low Volatility. Over the year to Oct 9, 2026 it returned +5.6% with distributions reinvested. The prospectus expense ratio is 0.30% a year. By its holdings published by its issuer for Oct 10, 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 8.4% below its high of Aug 24, 2026 on Oct 9, 2026.

Questions people ask

Which returned more over the last year, RWL or SPHD?
In the year to Oct 9, 2026, with distributions reinvested, RWL returned +21.1% and SPHD +5.6%.
Which is cheaper, RWL or SPHD?
SPHD is cheaper, by 0.09 percentage points a year. That is about $9 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do RWL and SPHD overlap with the S&P 500?
By their latest filed holdings, 99% of RWL and 95% of SPHD by weight is stocks the S&P 500 already holds.
Other comparisons
IWX vs RWLFELV vs RWLEAGL vs RWLBGIG vs RWLFDL vs SPHDFTCS vs SPHDSPHD vs SPYDSPHD vs SPLV
RWL on its own →SPHD on its own →Hold both: look the portfolio through →Rankings →Standards and sources →
Where these figures came from
RWL and SPHD filings on SEC EDGAR ↗RWL and SPHD prospectus with the expense ratio (SEC) ↗Invesco page for RWL ↗Invesco page for SPHD ↗

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, RWL against SPHD, data as of Oct 9, 2026. https://etfiq.com/compare/any/rwl-vs-sphd

Open data

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