Dividend comparison
SPHD vs DGRW: Which Is Better for Income?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Invesco S&P 500 High Dividend Low Volatility ETF and WisdomTree U.S. Quality Dividend Growth Fund, side by side. Updated October 21, 2026.
SPHD vs DGRW: key differences
The short answer, from the latest data on this page.
- Fees. DGRW is cheaper at 0.28% a year versus 0.30% for SPHD. On $10,000 that is $2 a year less in fees.
- Income. SPHD pays more income, yielding 4.87% over the last twelve months versus 1.19% for DGRW. That is about $368 more a year on $10,000. Both pay monthly.
- Performance. Over the last 5 years, DGRW returned 72.9% versus 35.9% for SPHD, with dividends reinvested. $10,000 would have grown to $17,290 in DGRW and $13,591 in SPHD.
- Risk. SPHD has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -19.5%, against -17.3% for DGRW.
- Diversification. DGRW holds 304 positions and SPHD holds 54.
- Dividend growth. SPHD grew its yearly payout 5.4% a year over the last 4 years, versus 2.5% for DGRW.
- Size. DGRW is the larger fund with $17.1 billion in assets, against $3.3 billion for SPHD.
Bottom line: SPHD fits better if you care most about more income today and faster dividend growth. DGRW fits better if you care most about stronger 5-year returns and broader diversification.
Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
| Metric | SPHD Invesco S&P 500 High Dividend Low Volatility ETF | DGRW WisdomTree U.S. Quality Dividend Growth Fund |
|---|---|---|
| Dividend yield (TTM) | 4.87% | 1.19% |
| Dividend / share (TTM) | $2.47 | $1.19 |
| Payout frequency | Monthly | Monthly |
| Last dividend | $0.2016 on Sep 25, 2026 | $0.1700 on Sep 29, 2026 |
| Ex-dividend date | Oct 19, 2026 | Sep 25, 2026 |
| Next payment | $0.2010 on Oct 23, 2026 | — |
| Dividend growth (CAGR) | 5.4% over 4 yrs | 2.5% over 4 yrs |
| Price | $50.64 | $99.40 |
| Dividend growth streak | 1 year | 1 year |
| Beta | 0.47 | 0.82 |
| Max drawdown (5Y) | -19.5% | -17.3% |
| Market cap | $3.29B | $17.11B |
| Exchange | AMEX | NASDAQ |
| Expense ratio | 0.30% | 0.28% |
| Assets under management | $3.26B | $17.08B |
| Number of holdings | 54 | 304 |
| Top 10 concentration | 28.8% | — |
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.
SPHD
$40.59/mo
$487 /yr at 4.87% yield
DGRW
$9.96/mo
$119 /yr at 1.19% yield
Dividend history
Total dividends paid per share in each calendar year. SPHD pays monthly; DGRW pays monthly.
| Year | SPHD | DGRW |
|---|---|---|
| 2025 | $1.9308 | $1.3165 |
| 2024 | $1.6464 | $1.2103 |
| 2023 | $1.9010 | $1.2250 |
| 2022 | $1.7038 | $1.3002 |
| 2021 | $1.5643 | $1.1906 |
Strategy: Dividend equity
Rules-based equity funds that screen for companies paying sustainable or rising dividends, aiming at income plus long-term share-price participation. The screen is what defines the fund: yield-ranked indexes deliver more cash now, dividend-growth indexes deliberately exclude the highest payers in favor of durability. Both approaches produce a sector mix that looks nothing like the broad market, typically heavier in financials, healthcare, staples and industrials.
Expect stretches of underperformance versus the broad market whenever leadership comes from the high-growth, low-yield companies these screens exclude.
Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 20, 2021 would now be worth $13,591 in SPHD and $17,290 in DGRW.
| Period | SPHD | DGRW |
|---|---|---|
| 1 month | 1.22% | 1.50% |
| 3 months | -4.22% | 3.68% |
| Year to date | 5.50% | 11.15% |
| 1 year | 4.33% | 11.56% |
| 3 years | 44.23% | 63.57% |
| 5 years | 35.91% | 72.90% |
- SPHD
- DGRW
Both series indexed to 100 on 2021-10-20 using the adjusted closing price series. Past performance does not guarantee future results.
Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
- SPHD
- DGRW
Top 10 holdings
Largest positions by portfolio weight.
Quick verdict
SPHD fits better if you care most about more income today and faster dividend growth. DGRW fits better if you care most about stronger 5-year returns and broader diversification. Model the holding inside your real portfolio before deciding.
Still deciding? Compare them in your portfolio
Forecast dividend income, track payouts, and see how SPHD vs DGRW fits with the rest of your holdings. Free to start — no credit card required for the trial.
Frequently asked questions
Is SPHD or DGRW better for dividend income?
It depends on your goals. SPHD currently yields 4.87% Trailing Twelve Months (TTM) while DGRW yields 1.19%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between SPHD and DGRW?
Invesco S&P 500 High Dividend Low Volatility ETF (SPHD) is an ETF listed on AMEX. WisdomTree U.S. Quality Dividend Growth Fund (DGRW) is an ETF listed on NASDAQ. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, SPHD or DGRW?
DGRW has the lower expense ratio. SPHD charges 0.30% a year and DGRW charges 0.28%, a difference of $2 a year on a $10,000 investment.
Which has performed better, SPHD or DGRW?
Over the last 5 years, DGRW has the higher total return with dividends reinvested: SPHD returned 35.9% and DGRW returned 72.9%. Past performance does not predict future returns.
Which is riskier, SPHD or DGRW?
Measured by the worst peak-to-trough decline over the last five years, SPHD has been riskier: SPHD fell as much as 19.5% and DGRW as much as 17.3%. Their betas are 0.47 and 0.82.
How often do SPHD and DGRW pay dividends?
Both pay monthly. The most recent payments were $0.2016 for SPHD and $0.1700 for DGRW.
How much income does $10,000 in SPHD vs DGRW generate?
At current TTM yields, $10,000 in SPHD would generate roughly $40.59 per month ($487 annually). The same amount in DGRW would produce about $9.96 per month ($119 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both SPHD and DGRW?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare SPHD vs DGRW with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how SPHD and DGRW fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.
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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.