Dividend comparison
SPHD vs FDVV: 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 Fidelity High Dividend ETF, side by side. Updated October 21, 2026.
SPHD vs FDVV: key differences
The short answer, from the latest data on this page.
- Fees. FDVV is cheaper at 0.15% a year versus 0.30% for SPHD. On $10,000 that is $15 a year less in fees.
- Income. SPHD pays more income, yielding 4.87% over the last twelve months versus 2.77% for FDVV. That is about $210 more a year on $10,000. Both pay monthly.
- Performance. Over the last 5 years, FDVV returned 80.6% versus 35.9% for SPHD, with dividends reinvested. $10,000 would have grown to $18,061 in FDVV and $13,591 in SPHD.
- Risk. Their worst declines over the last 5 years were similar: -19.5% for SPHD and -20.2% for FDVV from peak to trough.
- Diversification. FDVV holds 119 positions and SPHD holds 54. The ten largest positions make up 28.8% of SPHD and 36.5% of FDVV.
- Overlap. 16% of the two portfolios overlap by weight, across 25 shared holdings. They mostly own different companies, so they can complement each other.
- Dividend growth. FDVV grew its yearly payout 10.7% a year over the last 4 years, versus 5.4% for SPHD.
- Size. FDVV is the larger fund with $10.2 billion in assets, against $3.3 billion for SPHD.
Bottom line: SPHD fits better if you care most about more income today. FDVV fits better if you care most about lower fees, stronger 5-year returns, faster dividend growth 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 | FDVV Fidelity High Dividend ETF |
|---|---|---|
| Dividend yield (TTM) | 4.87% | 2.77% |
| Dividend / share (TTM) | $2.47 | $1.71 |
| Payout frequency | Monthly | Monthly |
| Last dividend | $0.2016 on Sep 25, 2026 | $0.3620 on Sep 22, 2026 |
| Ex-dividend date | Oct 19, 2026 | Sep 18, 2026 |
| Next payment | $0.2010 on Oct 23, 2026 | — |
| Dividend growth (CAGR) | 5.4% over 4 yrs | 10.7% over 4 yrs |
| Price | $50.64 | $61.84 |
| Dividend growth streak | 1 year | 1 year |
| Beta | 0.47 | 0.78 |
| Max drawdown (5Y) | -19.5% | -20.2% |
| Market cap | $3.29B | $10.17B |
| Exchange | AMEX | AMEX |
| Expense ratio | 0.30% | 0.15% |
| Assets under management | $3.26B | $10.17B |
| Number of holdings | 54 | 119 |
| Top 10 concentration | 28.8% | 36.5% |
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
FDVV
$23.10/mo
$277 /yr at 2.77% yield
Dividend history
Total dividends paid per share in each calendar year. SPHD pays monthly; FDVV pays monthly.
| Year | SPHD | FDVV |
|---|---|---|
| 2025 | $1.9308 | $1.6360 |
| 2024 | $1.6464 | $1.4700 |
| 2023 | $1.9010 | $1.5920 |
| 2022 | $1.7038 | $1.2830 |
| 2021 | $1.5643 | $1.0880 |
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 $18,061 in FDVV.
| Period | SPHD | FDVV |
|---|---|---|
| 1 month | 1.22% | -0.32% |
| 3 months | -4.22% | -0.51% |
| Year to date | 5.50% | 9.08% |
| 1 year | 4.33% | 10.45% |
| 3 years | 44.23% | 73.46% |
| 5 years | 35.91% | 80.61% |
- SPHD
- FDVV
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
- FDVV
SPHD vs FDVV holdings overlap
16% overlap by weight, with 25 holdings in common. Overlap adds up the smaller of the two weights for every stock both funds own, so 100% would mean identical portfolios.
| Largest shared holdings | SPHD weight | FDVV weight |
|---|---|---|
| MOAltria Group Inc | 2.88% | 1.72% |
| PRUPrudential Financial Inc | 2.32% | 1.47% |
| PEPPepsiCo Inc | 1.99% | 1.32% |
| KHCKraft Heinz Co/The | 2.84% | 1.31% |
| TFCTruist Financial Corp | 1.78% | 1.15% |
| DUKDuke Energy Corp | 1.49% | 1.10% |
| EXCExelon Corp | 1.52% | 1.03% |
| ESEversource Energy | 1.76% | 0.98% |
| AMTAmerican Tower Corp | 2.26% | 0.94% |
| DOCHealthpeak Properties Inc | 2.26% | 0.89% |
Top 10 holdings
Largest positions by portfolio weight.
SPHD54 holdings total
Quick verdict
SPHD fits better if you care most about more income today. FDVV fits better if you care most about lower fees, stronger 5-year returns, faster dividend growth and broader diversification. Model the holding inside your real portfolio before deciding.
Still deciding? Compare them in your portfolio
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Frequently asked questions
Is SPHD or FDVV better for dividend income?
It depends on your goals. SPHD currently yields 4.87% Trailing Twelve Months (TTM) while FDVV yields 2.77%. 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 FDVV?
Invesco S&P 500 High Dividend Low Volatility ETF (SPHD) is an ETF listed on AMEX. Fidelity High Dividend ETF (FDVV) is an ETF listed on AMEX. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, SPHD or FDVV?
FDVV has the lower expense ratio. SPHD charges 0.30% a year and FDVV charges 0.15%, a difference of $15 a year on a $10,000 investment.
Which has performed better, SPHD or FDVV?
Over the last 5 years, FDVV has the higher total return with dividends reinvested: SPHD returned 35.9% and FDVV returned 80.6%. Past performance does not predict future returns.
Which is riskier, SPHD or FDVV?
Measured by the worst peak-to-trough decline over the last five years, FDVV has been riskier: SPHD fell as much as 19.5% and FDVV as much as 20.2%. Their betas are 0.47 and 0.78.
How much do SPHD and FDVV overlap?
About 16% of the two portfolios overlap by weight, across 25 shared holdings. The largest shared positions are MO, PRU, PEP. Holding both still adds meaningful diversification.
How often do SPHD and FDVV pay dividends?
Both pay monthly. The most recent payments were $0.2016 for SPHD and $0.3620 for FDVV.
How much income does $10,000 in SPHD vs FDVV generate?
At current TTM yields, $10,000 in SPHD would generate roughly $40.59 per month ($487 annually). The same amount in FDVV would produce about $23.10 per month ($277 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both SPHD and FDVV?
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 FDVV with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how SPHD and FDVV 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.