SPHD vs SPYI: Performance, Holdings, Fees & Risk
SPHD and SPYI are ETFs, but they can differ materially in exposure, yield, fees and risk. SPHD is Invesco S&P 500 High Dividend Low Volatility ETF, while SPYI is Neos S&P 500(R) High Income ETF. SPYI is broader by holdings count, with 508 positions versus 54 for SPHD. SPYI is more concentrated at the top, based on top-10 holdings weight. Current AlgovestIQ evidence has SPHD ahead on AIQ Score, 63 versus 60.
What is the main difference between SPHD and SPYI?
SPYI holds 508 positions to SPHD's 54, and 6% of their weight is in the same securities.
| Metric | SPHD | SPYI |
|---|---|---|
| Fund | ||
| Expense ratio | 0.3% | 0.68% |
| Holdings | 54 | 508 |
| Top-10 concentration | 28.2% | 38% |
| Distribution yieldTrailing 12 months | 4.91% | 11.81% |
| Average volume | 895,996 | 2,718,949 |
| Performance | ||
| 1Y return | +5.1% | +3.4% |
| YTD return | +5.5% | +2.2% |
| Risk | ||
| Annualized volatility | 11.9% | 11.1% |
| Max drawdown (1Y) | -10.2% | -10.1% |
| Beta | 0.06 | 0.82 |
| Sharpe ratio | 0.08 | -0.04 |
| Sortino ratio | 0.15 | -0.06 |
| AlgovestIQ | ||
| AIQ Score | 63/100 | 60/100 |
| AIQ Edge Score | 9/10 | 8/10 |
| Momentum | 59/100 | 69/100 |
| Risk Resilience | 66/100 | 81/100 |
AlgovestIQ AIQ Comparison
Invesco S&P 500 High Dividend Low Volatility ETF vs Neos S&P 500(R) High Income ETF
SPHD leads
SPHD leads by 3 AIQ points, having only recently taken the lead back from SPYI.
Fragile: 0 of 3 evidence groups support SPHD, the lead recently changed hands, and its current signal state is conflicted.
Invesco S&P 500 High Dividend Low Volatility ETF
Neos S&P 500(R) High Income ETF
The Algovestiq AIQ Score currently favors SPHD over SPYI, 63 versus 60 as of Oct 21, 2026. SPHD also shows the weaker technical structure relative to its 50-day moving average. 0 of 3 covered evidence groups favor SPHD today, and the comparison is rated Fragile on stability: the AIQ gap is narrow at 3 points. SPHD lead: Reversed — SPYI led by 3 AIQ points 30 sessions ago; SPHD now leads by 3.
Compare Invesco S&P 500 High Dividend Low Volatility ETF and Neos S&P 500(R) High Income ETF across performance, expense ratio, dividend yield, drawdown, volatility and the Algovestiq AIQ Score.
SPHD vs SPYI: which fits what
Each row is settled by a single measure. Where the gap is too small to matter it reads Similar, and no row decides the comparison as a whole.
| If you want | SPHD | SPYI | Fits |
|---|---|---|---|
| Lower costExpense ratio | 0.3% | 0.68% | SPHD |
| Broader diversificationNumber of holdings | 54 | 508 | SPYI |
| Lower concentrationWeight of the 10 largest holdings | 28.2% | 38% | SPHD |
| Higher incomeTrailing 12-month distribution yield | 4.91% | 11.81% | SPYI |
| Smaller drawdownsMax drawdown, 1 year | -10.2% | -10.1% | Similar |
| Lower volatilityAnnualized volatility, 1 year | 11.9% | 11.1% | Similar |
Similar means the gap is within 0.01 percentage points of expense ratio, 25% more holdings, 3 points of top-10 weight, 0.2 points of yield, 2 points of drawdown or 1 point of volatility. Past drawdowns and volatility describe the funds’ history, not their future.
Performance over time
Total return with distributions reinvested, from daily closes for both ETFs.
Total return comparison
Growth of $10,000, distributions reinvested
Split-adjusted closes; each distribution is reinvested at the close on its ex-dividend date. Taxes and trading costs are not modeled.
Compare SPHD and SPYI against another ticker
Open a multi-ticker workspace without changing this focused pair page.
AIQ Factor Divergence
Where the two separate, on the four dimensions behind the AIQ Score. Bars read outward from a shared zero: further from the centre is a wider gap.
- Risk Resilience66 vs 81SPYI +15
- Momentum59 vs 69SPYI +10
- Quality64 vs 62Even
0 of 3 evidence groups favor SPHD. Neither name separates cleanly on the covered dimensions.
What changed since the last close
Latest scored session 2026-10-20, compared against the prior scored session 2026-10-19.
Largest factor move: Momentum +4
New signals
- BB Upper Band Breach — bearish, volatility, short horizon
- Keltner Channel Breakout — bullish, volatility, short horizon
- RSI Overbought — bearish, momentum, short horizon
Largest factor move: Momentum +17
New signals
- Uptrend Structure Active — bullish, trend, long horizon
SPHD's lead narrowed by 2 AIQ points in the latest session.
Deeper signal detail for each name lives on its own signals page — SPHD and SPYI both carry a full feed there.
The central trade-off
SPHD (Invesco S&P 500 High Dividend Low Volatility ETF): the stronger current systematic profile.
SPYI (Neos S&P 500(R) High Income ETF): the counter-case, on risk resilience, momentum, technicals.
Fund facts, side by side
Two funds tracking overlapping universes are separated by cost and risk far more than by holdings. Those lead here.
| Measure | SPHD | SPYI | Why it matters |
|---|---|---|---|
| Expense ratio | 0.3% | 0.68% | Lower is better — it compounds against you every year you hold. |
| Holdings | 54 | 508 | More holdings means broader diversification, not better returns. |
| Average volume | 895,996 | 2,718,949 | Liquidity — matters most if you trade size. |
| Annualized volatility | 11.9% | 11.1% | Lower is a steadier ride for the same exposure. |
| Max drawdown (1Y) | -10.2% | -10.1% | The worst peak-to-trough loss over the past year. |
| Sharpe ratio | 0.08 | -0.04 | Return per unit of risk. Higher is better. |
| Beta | 0.06 | 0.82 | Sensitivity to the broad market. Neither direction is better — it depends on the role in your portfolio. |
How much of the same holdings they own
SPHD and SPYI share 5.57% of their weighted exposure across 50 common holdings.
1 holding is unique to SPHD, and 457 holdings are unique to SPYI. Owning both is genuinely additive — most of the capital sits in different securities.
SPYI is the more concentrated of the two: its ten largest positions are 37.98% of the fund, against 28.23% for SPHD (508 holdings vs 54). Concentration cuts both ways — it is what drives outperformance when the top names work, and what makes the drawdown deeper when they do not.
Largest shared positions
| Holding | SPHD | SPYI | Shared |
|---|---|---|---|
| XOMExxonMobil Holdings Corp | 1.46% | 1.03% | 1.03% |
| CVXChevron Corp | 2.12% | 0.6% | 0.6% |
| VZVerizon Communications Inc | 3.4% | 0.32% | 0.32% |
| PEPPepsiCo Inc | 1.95% | 0.28% | 0.28% |
| TAT&T Inc | 2.72% | 0.27% | 0.27% |
| COPConocoPhillips | 1.67% | 0.25% | 0.25% |
| PFEPfizer Inc | 3.4% | 0.23% | 0.23% |
| BMYBristol-Myers Squibb Co | 2.09% | 0.19% | 0.19% |
Shared weight is the lower of the two positions — the portion of capital both funds genuinely have in the same security.
What SPHD adds that SPYI doesn’t
| Holding | SPHD | SPYI |
|---|---|---|
| VZVerizon Communications Inc | 3.4% | 0.32% |
| PFEPfizer Inc | 3.4% | 0.23% |
| GISGeneral Mills Inc | 2.97% | 0.03% |
| KHCKraft Heinz Co/The | 2.87% | 0.03% |
| VICIVICI Properties Inc | 2.84% | 0.04% |
| TAT&T Inc | 2.72% | 0.27% |
What SPYI adds that SPHD doesn’t
| Holding | SPYI | SPHD |
|---|---|---|
| NVDANVIDIA Corp | 8.02% | Not held |
| AAPLApple Inc | 7.27% | Not held |
| MSFTMicrosoft Corp | 5.57% | Not held |
| AMZNAmazon.com Inc | 3.81% | Not held |
| GOOGLAlphabet Inc | 2.96% | Not held |
| AVGOBroadcom Inc | 2.6% | Not held |
Each list is a fund’s largest positions by weight that the other fund does not hold, or holds at less than half the weight.
SPHD vs SPYI: five-year payout growth
SPHD grew its split-adjusted payout at 0.98% a year over 2020-2025. SPYI began paying distributions in 2022, so it has no 2020-2025 growth rate to compare.
| Dividend metric | SPHD | SPYI |
|---|---|---|
| 2025 annual payout | $1.931 | $6.146 |
| Peer rank | #31 of 33 | not ranked |
Split-adjusted annual distributions, 2020–2025. Research as of Sep 19, 2026. Yield and expense ratio above are current values, not part of this window.
AIQ Agreement Matrix
0 of 3 covered evidence groups favor SPHD. A wide gap backed by one group is a weaker case than a narrow gap backed by five.
| Evidence group | Favors | Reading |
|---|---|---|
| AIQ Score | Even | 63 vs 60 |
| Fundamentals | Not covered | Not covered |
| Valuation | Not covered | Not covered |
| Technicals | SPYI | Price vs 50-day -1.2% vs -0.4%; vs 200-day 0% vs 1.9% |
| Risk Resilience | SPYI | Risk Resilience 66 vs 81 |
| Analyst expectations | Not covered | Not covered |
✓ agrees with the overall verdict · ✕ points the other way. Groups marked “not covered” lack data on one or both of SPHD and SPYI and are excluded from the count.
AIQ Decision Stability
The conclusion is sensitive to small changes. Treat the lead as provisional and watch the flip conditions below.
- The AIQ gap is narrow at 3 points. (argues the conclusion is provisional)
- Only 0 of 3 covered evidence groups agree. (argues the conclusion is provisional)
- The lead has already changed hands inside the comparison window. (argues the conclusion is provisional)
- The leader is throwing conflicting signals. (argues the conclusion is provisional)
Stability combines the score gap, how broadly the evidence agrees, how steady the lead has been across daily snapshots, the current signal state on both names, and analyst dispersion on SPHD.
How the comparison changed
45 daily snapshots · Sep 6 – Oct 20SPHD lead: Reversed — SPYI led by 3 AIQ points 30 sessions ago; SPHD now leads by 3.
- Today
- SPHD +3
- 63 vs 60
- 7 sessions ago
- SPHD +3
- 62 vs 59
- 30 sessions ago
- SPYI +3
- 51 vs 54
- 90 sessions ago
- Not covered
The lead changed hands 2 times in this window, most recently on Oct 14 when SPHD moved ahead of SPYI.
AIQ Signal Divergence
Only the signals that bear on the head-to-head. A conflicted name is carrying bullish and bearish rules at the same time — the technical evidence is not pointing one way.
3 bullish / 2 bearish / 2 neutral, conflicted
Only SPHD
- BB Upper Band Breach — bearish, volatility, short horizon
- Keltner Channel Breakout — bullish, volatility, short horizon
- RSI Overbought — bearish, momentum, short horizon
- MACD Bullish Crossover — bullish, momentum, short horizon
4 bullish / 1 bearish / 2 neutral, conflicted
Only SPYI
- EMA Ribbon Expansion Bullish — bullish, trend, medium horizon
- 52-Week High Proximity — bullish, risk, long horizon (1.1%)
- Uptrend Structure Active — bullish, trend, long horizon
- MACD Bearish Crossover — bearish, momentum, short horizon
Both carry 3 more signals that do not separate them: Bollinger Band Squeeze, Golden Cross Active, ATR Contraction - Coiling.
SPHD leads the comparison while carrying a conflicted signal state, which is one reason the stability rating is not higher.
Price vs model alignment
Whether the latest session's price move confirms what the model did over the same session, or contradicts it.
Price is down while the AIQ Score moved up 2 points over the same session — price and model disagree (price -0.65%, AIQ +2 points).
Price is down while the AIQ Score moved up 4 points over the same session — price and model disagree (price -0.54%, AIQ +4 points).
What would flip this result
A state, not a forecast. These are the specific, observable changes that would reverse the verdict — not a price prediction.
- 1SPYI's Bollinger Band Squeeze turns directional — it is neutral today and would confirm a change in trend.
- 2SPHD's conflicting signal state resolves bearish — it currently carries 3 bullish and 2 bearish rules at once.
- 3A regime shift changes factor weighting — Quality and Value carry the heaviest weights in the composite, so a rotation toward either would move the result most.
The full evidence
Every number behind the verdict. The leader is called above each group so you are not left to solve it from the table.
Performance
SPHD leads 4 of 6 windows| Metric | SPHD | SPYI |
|---|---|---|
| 1 week (5 sessions) | 2.7% | -0.8% |
| 1 month (20 sessions) | 2% | 0% |
| 3 months (63 sessions) | -3.4% | 1.6% |
| 6 months (126 sessions) | 2.5% | 2.7% |
| Year to date | 5.5% | 2.2% |
| 1 year (252 sessions) | 5.1% | 3.4% |
Technicals
SPYI has the stronger structure| Metric | SPHD | SPYI |
|---|---|---|
| RSI (14) | 75.5 | 59.5 |
| ADX (14) | 31 | 14.2 |
| Price vs 50-day | -1.2% | -0.4% |
| Price vs 200-day | 0% | 1.9% |
| Volatility (1M, annualized) | 13% | 7% |
Risk
SPYI is the more resilient| Metric | SPHD | SPYI |
|---|---|---|
| Beta | 0.06 | 0.82 |
| Sharpe ratio | 0.08 | -0.04 |
| Sortino ratio | 0.15 | -0.06 |
| Max drawdown | -10.2% | -10.1% |
| Current drawdown | -5.4% | -1.3% |
| Annualized volatility | 11.9% | 11.1% |
| Value at risk (95%) | -1.1% | -1.3% |
Straight answers
Short answers to the questions fund investors ask about this pair, from the figures above.
What is the difference between SPHD and SPYI?
SPYI holds 508 positions to SPHD's 54, and 6% of their weight is in the same securities.
How much do SPHD and SPYI overlap?
SPHD and SPYI share 5.57% of their weighted exposure across 50 common holdings. 1 holding is unique to SPHD, and 457 holdings are unique to SPYI. Owning both is genuinely additive — most of the capital sits in different securities.
Which ETF is more diversified, SPHD or SPYI?
SPYI holds more positions: 508 versus 54 for SPHD.
Which has the lower expense ratio?
SPHD has the lower expense ratio, 0.3% a year against 0.68% for SPYI.
Which ETF has the higher distribution yield?
SPYI, with a trailing 12-month distribution yield of 11.81% against 4.91% for SPHD.
Which ETF has been more volatile?
Their volatility over the past year is similar: 11.9% annualized for SPHD and 11.1% for SPYI.
Which ETF has had the smaller drawdown?
Their worst peak-to-trough falls over the past year are similar: -10.2% for SPHD and -10.1% for SPYI.
Compare SPHD and SPYI with others
Continue your research
This page answers which of the two. These answer the questions on either side of it.
How this comparison is scored
The Algovestiq AIQ Score composites four factors — Quality, Value, Momentum and Risk, each carrying a fixed weight. Sentiment is reported separately as SentimentPulse and is not folded into the composite. Scores refresh every trading day, and this page regenerates from the latest snapshot rather than being written once.
The verdict names a leader, states how broadly six independent evidence groups agree, and rates how durable that conclusion is given the score gap, its recent trajectory and the current signal state on both names.
How to use side-by-side comparison →This comparison is informational and educational, not investment advice. AIQ scores update daily; re-check after earnings, guidance or macro data that materially changes either name’s factor profile.