Data as of Oct 28, 2026.
SPHQ vs SPYM: Differences, Returns & Fees
Over the year to Oct 28, 2026, SPHQ returned +14.1% to SPYM's +13.7%; 19% of their weight is in the same names.
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Net assets on Oct 27, 2026: $18.7bn for Invesco S&P 500 Quality ETF and $185.0bn for State Street SPDR Portfolio S&P 500 ETF.
Pair scorecard
SPYM costs 0.13 points a year less; their one-year returns differ by 0.4 points; SPYM is 9.9 times larger.
| Measure | SPHQ | SPYM |
|---|---|---|
| Return | ||
| Total return, 1 year | +14.1% | +13.7% |
| Drawdown | ||
| Below its high | 6.4%, high on Jun 30, 2026 | |
| Benchmark | ||
| What it tracks | S&P 500 Quality Index | S&P 500 Index |
| Cost and size | ||
| Expense ratio | 0.15% | 0.02% |
| Net assets, as of Oct 27, 2026 | $18.7bn | $185.0bn |
| Holdings | ||
| Holdings in common | 19% | |
| Top ten holdings, share of the fund | 43.3% | 38.1% |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Dec 16, 2005 to Oct 23, 2026 · 1,088 weekly returns · each against IVVSPYM returned more: +786.5% to +599.2%. SPYM swung slightly less: 17.2% to 18.0%. SPYM fell slightly less at its worst: −53.9% to −56.9%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | SPHQ | SPYM | IVV | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +599.2% | +786.5% | SPYM | Price change plus distributions, reinvested. | |
| Annualized | +9.7% | +11.0% | SPYM | Total return as a yearly rate. | |
| Price return | +432.7% | +511.8% | SPYM | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 18.0% | 17.2% | SPYM (slight) | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 13.0% | 12.2% | SPYM (slight) | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −56.9% | −53.9% | SPYM (slight) | Deepest fall from a high to the low after it. | |
| Upside capture | 91.6% | 94.1% | 100.0% | SPYM (slight) | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 97.3% | 97.0% | 100.0% | Tie | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 0.94 | 0.96 | 1.00 | Tie | How far it moves for each 1% its benchmark moves. |
| R squared | 0.85 | 0.95 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 0.51 | 0.59 | SPYM | Return above Treasury bills per unit of volatility. | |
| Sortino | 0.70 | 0.84 | SPYM | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.097 | 0.106 | 0.102 | SPYM (slight) | Return above Treasury bills per unit of beta. |
| Calmar | 0.17 | 0.20 | SPYM | Annualized return divided by the max drawdown. | |
| Against the benchmark | |||||
| Benchmark | IVV | IVV | IVV | The ETF each fund is measured against. | |
| Alpha | −0.5% a year | +0.4% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −0.31 | 0.48 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −3.5% to +2.5% | −1.2% to +2.0% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | −0.15 | −0.01 | SPYM | Return against its benchmark per unit of tracking error. | |
| Tracking error | 7.1% | 3.8% | 0.0% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,088 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, SPHQ and SPYM hold 19% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
19% in common
Only in one fund ↓
Side by side
SPHQ and SPYM on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
SPHQ and SPYM are built for the same job. How do they differ in cost, holdings and results?
- What each follows. SPHQ follows S&P 500 Quality Index and SPYM follows S&P 500 Index.
- Holdings in common. 19% of the weight is in the same securities (holdings dated Oct 27, 2026).
- Number of holdings. SPHQ holds 102 positions and SPYM holds 506.
Data as of Oct 28, 2026.
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SPHQ
SPHQ tracks the S&P 500 Quality. Over the year to Oct 28, 2026 it returned +14.1% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Oct 27, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 102 positions, with the top ten at 43.3%. It sat 6.4% below its high of Jun 30, 2026 on Oct 28, 2026.
SPYM
SPYM tracks the S&P 500. Over the year to Oct 28, 2026 it returned +13.7% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.02% a year. By its holdings published by its issuer for Oct 27, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 506 positions, with the top ten at 38.1%.
Questions people ask
- Which returned more over the last year, SPHQ or SPYM?
- In the year to Oct 28, 2026, with distributions reinvested, SPHQ returned +14.1% and SPYM +13.7%.
- Which is cheaper, SPHQ or SPYM?
- SPYM is cheaper, by 0.13 percentage points a year. That is about $13 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, SPHQ against SPYM, data as of Oct 28, 2026. https://etfiq.com/compare/any/sphq-vs-spym
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