Data as of Oct 28, 2026.
SPHD vs USMV: Differences, Returns & Fees
Over the year to Oct 28, 2026, SPHD returned +11.0% to USMV's +10.8%; 8% of their weight is in the same names.
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Net assets on Oct 27, 2026: $3.3bn for Invesco S&P 500 High Dividend Low Volatility ETF and $24.1bn for iShares MSCI USA Min Vol Factor ETF.
Pair scorecard
USMV costs 0.15 points a year less; their one-year returns differ by 0.2 points; USMV is 7.3 times larger.
| Measure | SPHD | USMV |
|---|---|---|
| Return | ||
| Total return, 1 year | +11.0% | +10.8% |
| Drawdown | ||
| Below its high | 4.2%, high on Aug 24, 2026 | |
| Benchmark | ||
| What it tracks | S&P 500 Low Volatility High Dividend Index | MSCI USA Minimum Volatility (USD) Index |
| Cost and size | ||
| Expense ratio | 0.30% | 0.15% |
| Net assets, as of Oct 27, 2026 | $3.3bn | $24.1bn |
| Holdings | ||
| Holdings in common | 8% | |
| Top ten holdings, share of the fund | 28.2% | 14.8% |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Nov 2, 2012 to Oct 23, 2026 · 729 weekly returnsUSMV returned more: +356.6% to +266.3%. USMV swung less: 13.5% to 16.1%. USMV fell less at its worst: −30.6% to −38.2%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | SPHD | USMV | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +266.3% | +356.6% | USMV | Price change plus distributions, reinvested. |
| Annualized | +9.7% | +11.4% | USMV | Total return as a yearly rate. |
| Price return | +107.7% | +250.4% | USMV | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 16.1% | 13.5% | USMV | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 11.3% | 9.5% | USMV | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −38.2% | −30.6% | USMV | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.54 | 0.73 | USMV | Return above Treasury bills per unit of volatility. |
| Sortino | 0.77 | 1.04 | USMV | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.25 | 0.37 | USMV | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 729 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, SPHD and USMV hold 8% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
8% in common
Only in one fund ↓
Side by side
SPHD and USMV on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
SPHD and USMV do different jobs. What does each one do in a portfolio?
- What each follows. SPHD follows S&P 500 Low Volatility High Dividend Index and USMV follows MSCI USA Minimum Volatility (USD) Index.
- Holdings in common. 8% of the weight is in the same securities (holdings dated Oct 27, 2026).
- Cost. SPHD charges 0.30% of assets a year and USMV 0.15%, a gap of 0.15 points.
Data as of Oct 28, 2026.
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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.
USMV
USMV tracks the MSCI USA Min Vol Factor. Over the year to Oct 28, 2026 it returned +10.8% with distributions reinvested. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Oct 27, 2026, 93% of the fund by weight is stocks the S&P 500 also holds, across 176 positions, with the top ten at 14.8%.
Questions people ask
- Which returned more over the last year, SPHD or USMV?
- In the year to Oct 28, 2026, with distributions reinvested, SPHD returned +11.0% and USMV +10.8%.
- Which is cheaper, SPHD or USMV?
- USMV 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.
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, SPHD against USMV, data as of Oct 28, 2026. https://etfiq.com/compare/any/sphd-vs-usmv
ETFIQ. (Oct 28, 2026). SPHD against USMV. Retrieved from https://etfiq.com/compare/any/sphd-vs-usmv
[SPHD against USMV (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/sphd-vs-usmv)
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