SPHQ vs USPX: Differences, Returns & Fees
SPHQ and USPX hold 20% of their weight in the same names. Net assets: $19.1bn on Oct 9, 2026 for Invesco S&P 500 Quality ETF, and $2.1bn on Oct 11, 2026 for Franklin U.S. Equity Index ETF.
USPX costs 0.12 points a year less; their one-year returns differ by 0.4 points; SPHQ is 9.2 times larger.
| SPHQ | USPX | |
|---|---|---|
| Expense ratio | 0.15% | 0.03% |
| Net assets, as of Oct 9, 2026 | $19.1bn | $2.1bn |
| Total return, 1 year | +19.7% | +20.1% |
| What it tracks | S&P 500 Quality Index | Linked Morningstar US Target Market Exposure Index †† |
| Holdings in common | 20% | |
| Holdings dated | Oct 10, 2026 | Jun 30, 2026 |
| Top ten holdings, share of the fund | 43.7% | 36.2% |
| Below its high | 4.9%, high on Jun 30, 2026 | |
Holdings in common uses holdings dated Jun 30, 2026 and Oct 9, 2026.
What they hold in common
By the books each fund has filed, SPHQ and USPX hold 20% 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 Jun 30, 2026 and Oct 9, 2026.
half
20% in common
On the same fields
SPHQ and USPX on the fields both publish, as of Oct 12, 2026. Source: ETFIQ.
About SPHQ
SPHQ tracks the S&P 500 Quality. Over the year to Oct 12, 2026 it returned +19.7% with distributions reinvested. The prospectus expense ratio is 0.15% a year. 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 4.9% below its high of Jun 30, 2026 on Oct 12, 2026.
About USPX
USPX tracks an index. Over the year to Oct 12, 2026 it returned +20.1% with distributions reinvested, against +20.0% for its benchmark, the Linked Morningstar US Target Market Exposure Index ††. The prospectus expense ratio is 0.03% a year. By its holdings filed for Jun 30, 2026, 98% of the fund by weight is stocks the S&P 500 also holds, across 468 positions, with the top ten at 36.2%.
Questions people ask
- Which returned more over the last year, SPHQ or USPX?
- In the year to Oct 12, 2026, with distributions reinvested, SPHQ returned +19.7% and USPX +20.1%.
- Which is cheaper, SPHQ or USPX?
- USPX is cheaper, by 0.12 percentage points a year. That is about $12 on $10,000 held for a year. Fees come from each fund's prospectus.
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.
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ETFIQ, SPHQ against USPX, data as of Oct 12, 2026. https://etfiq.com/compare/any/sphq-vs-uspx
ETFIQ. (Oct 12, 2026). SPHQ against USPX. Retrieved from https://etfiq.com/compare/any/sphq-vs-uspx
[SPHQ against USPX (ETFIQ, Oct 12, 2026)](https://etfiq.com/compare/any/sphq-vs-uspx)
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