SPHQ vs SPYI: Performance, Holdings, Fees & Risk
SPHQ and SPYI are ETFs, but they can differ materially in exposure, yield, fees and risk. SPHQ is Invesco S&P 500 Quality ETF, while SPYI is Neos S&P 500(R) High Income ETF. SPYI is broader by holdings count, with 508 positions versus 103 for SPHQ. SPHQ is more concentrated at the top, based on top-10 holdings weight.
What is the main difference between SPHQ and SPYI?
SPYI holds 508 positions to SPHQ's 103, and 19% of their weight is in the same securities.
| Metric | SPHQ | SPYI |
|---|---|---|
| Fund | ||
| Expense ratio | 0.2% | 0.68% |
| Holdings | 103 | 508 |
| Top-10 concentration | 43.2% | 38% |
| Distribution yieldTrailing 12 months | 1.03% | 11.81% |
| Average volume | 1,467,307 | 2,718,949 |
| Risk | ||
| Annualized volatility | 14.7% | 11.1% |
| Max drawdown (1Y) | -9.2% | -10.1% |
| Beta | 0.93 | 0.82 |
| Sharpe ratio | 0.75 | -0.04 |
| Sortino ratio | 1.24 | -0.06 |
AlgovestIQ AIQ Comparison
SPHQ vs SPYI
SPHQ and SPYI are effectively level
SPHQ and SPYI are effectively level on the AIQ Score; the factor table below shows where each one holds its advantage.
The Algovestiq AIQ Score does not currently separate SPHQ and SPYI as of the latest close. Both names are scored on the same 0–100 scale across Quality, Value, Momentum and Risk Resilience, and the factor table below shows where each one holds its advantage.
Compare SPHQ and SPYI across performance, expense ratio, dividend yield, drawdown, volatility and the Algovestiq AIQ Score.
SPHQ 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 | SPHQ | SPYI | Fits |
|---|---|---|---|
| Lower costExpense ratio | 0.2% | 0.68% | SPHQ |
| Broader diversificationNumber of holdings | 103 | 508 | SPYI |
| Lower concentrationWeight of the 10 largest holdings | 43.2% | 38% | SPYI |
| Higher incomeTrailing 12-month distribution yield | 1.03% | 11.81% | SPYI |
| Smaller drawdownsMax drawdown, 1 year | -9.2% | -10.1% | Similar |
| Lower volatilityAnnualized volatility, 1 year | 14.7% | 11.1% | SPYI |
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 SPHQ and SPYI against another ticker
Open a multi-ticker workspace without changing this focused pair page.
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, not enough on its own to move the overall score.
No signal started or stopped since the prior session; its 4 active signals are unchanged.
Largest factor move: Momentum +17
New signals
- Uptrend Structure Active — bullish, trend, long horizon
SPYI's lead widened by 4 AIQ points in the latest session.
Deeper signal detail for each name lives on its own signals page — SPHQ and SPYI both carry a full feed there.
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 | SPHQ | SPYI | Why it matters |
|---|---|---|---|
| Expense ratio | 0.2% | 0.68% | Lower is better — it compounds against you every year you hold. |
| Holdings | 103 | 508 | More holdings means broader diversification, not better returns. |
| Average volume | 1,467,307 | 2,718,949 | Liquidity — matters most if you trade size. |
| Annualized volatility | 14.7% | 11.1% | Lower is a steadier ride for the same exposure. |
| Max drawdown (1Y) | -9.2% | -10.1% | The worst peak-to-trough loss over the past year. |
| Sharpe ratio | 0.75 | -0.04 | Return per unit of risk. Higher is better. |
| Beta | 0.93 | 0.82 | Sensitivity to the broad market. Neither direction is better — it depends on the role in your portfolio. |
Where the exposure actually sits
Sector exposure for each fund, ordered by the size of the difference.
How much of the same holdings they own
SPHQ and SPYI share 19.15% of their weighted exposure across 99 common holdings.
1 holding is unique to SPHQ, and 408 holdings are unique to SPYI. Owning both is genuinely additive — most of the capital sits in different securities.
SPHQ is the more concentrated of the two: its ten largest positions are 43.16% of the fund, against 37.98% for SPYI (103 holdings vs 508). 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 | SPHQ | SPYI | Shared |
|---|---|---|---|
| AAPLApple Inc | 5.8% | 7.27% | 5.8% |
| VVisa Inc | 5.75% | 0.92% | 0.92% |
| MAMastercard Inc | 5.8% | 0.69% | 0.69% |
| CSCOCisco Systems Inc | 3.62% | 0.68% | 0.68% |
| COSTCostco Wholesale Corp | 3.83% | 0.61% | 0.61% |
| LRCXLam Research Corp | 3.72% | 0.56% | 0.56% |
| AMATApplied Materials Inc | 2.21% | 0.55% | 0.55% |
| PGProcter & Gamble Co/The | 2.96% | 0.51% | 0.51% |
Shared weight is the lower of the two positions — the portion of capital both funds genuinely have in the same security.
What SPHQ adds that SPYI doesn’t
| Holding | SPHQ | SPYI |
|---|---|---|
| MAMastercard Inc | 5.8% | 0.69% |
| VVisa Inc | 5.75% | 0.92% |
| NFLXNetflix Inc | 3.98% | 0.49% |
| GEVGE Vernova Inc | 3.94% | 0.39% |
| COSTCostco Wholesale Corp | 3.83% | 0.61% |
| LRCXLam Research Corp | 3.72% | 0.56% |
What SPYI adds that SPHQ doesn’t
| Holding | SPYI | SPHQ |
|---|---|---|
| NVDANVIDIA Corp | 8.02% | 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 |
| GOOGAlphabet Inc | 2.41% | 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.
SPHQ vs SPYI: five-year payout growth
SPHQ grew its split-adjusted payout at 4.48% a year over 2020-2025. SPYI began paying distributions in 2022, so it has no 2020-2025 growth rate to compare.
| Dividend metric | SPHQ | SPYI |
|---|---|---|
| 2025 annual payout | $0.815 | $6.146 |
| Peer rank | #103 of 138 | 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
How each independent group of evidence reads the pair.
| Evidence group | Favors | Reading |
|---|---|---|
| AIQ Score | Not covered | Not covered |
| Fundamentals | Not covered | Not covered |
| Valuation | Not covered | Not covered |
| Technicals | Not covered | Not covered |
| Risk Resilience | Not covered | Not covered |
| Analyst expectations | Not covered | Not covered |
AIQ Decision Stability
The conclusion rests on a wide gap and broad agreement. It is unlikely to turn on a single session.
- The leader's advantage has been widening. (supports the conclusion holding)
- The lead has been steady session to session. (supports the conclusion holding)
How the comparison changed
41 daily snapshots · Sep 8 – Oct 20SPYI lead: Strengthening — the AIQ differential moved from 0 to 6 points over 30 sessions.
- Today
- SPYI +6
- 54 vs 60
- 7 sessions ago
- SPYI +5
- 54 vs 59
- 30 sessions ago
- Level
- 54 vs 54
- 90 sessions ago
- Not covered
The lead has not changed hands in this window.
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.
1 bullish / 1 bearish / 2 neutral, conflicted
No signal that the other name lacks.
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
Both carry 4 more signals that do not separate them: Bollinger Band Squeeze, Golden Cross Active, ATR Contraction - Coiling, MACD Bearish Crossover.
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.
Risk
Split| Metric | SPHQ | SPYI |
|---|---|---|
| Beta | 0.93 | 0.82 |
| Sharpe ratio | 0.75 | -0.04 |
| Sortino ratio | 1.24 | -0.06 |
| Max drawdown | -9.2% | -10.1% |
| Current drawdown | -6.4% | -1.3% |
| Annualized volatility | 14.7% | 11.1% |
| Value at risk (95%) | -1.4% | -1.3% |
Straight answers
Short answers to the questions fund investors ask about this pair, from the figures above.
What is the difference between SPHQ and SPYI?
SPYI holds 508 positions to SPHQ's 103, and 19% of their weight is in the same securities.
How much do SPHQ and SPYI overlap?
SPHQ and SPYI share 19.15% of their weighted exposure across 99 common holdings. 1 holding is unique to SPHQ, and 408 holdings are unique to SPYI. Owning both is genuinely additive — most of the capital sits in different securities.
Which ETF is more diversified, SPHQ or SPYI?
SPYI holds more positions: 508 versus 103 for SPHQ.
Which has the lower expense ratio?
SPHQ has the lower expense ratio, 0.2% 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 1.03% for SPHQ.
Which ETF has been more volatile?
SPHQ has been more volatile over the past year, at 14.7% annualized against 11.1% for SPYI.
Which ETF has had the smaller drawdown?
Their worst peak-to-trough falls over the past year are similar: -9.2% for SPHQ and -10.1% for SPYI.
Compare SPHQ 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.