Dividend comparison
VFMO vs SPHQ: Which Is Better?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Vanguard U.S. Momentum Factor ETF and Invesco S&P 500 Quality ETF, side by side. Updated October 21, 2026.
VFMO vs SPHQ: key differences
The short answer, from the latest data on this page.
- Fees. VFMO is cheaper at 0.13% a year versus 0.20% for SPHQ. On $10,000 that is $7 a year less in fees.
- Income. SPHQ pays more income, yielding 1.03% over the last twelve months versus 0.61% for VFMO. That is about $42 more a year on $10,000. Both pay quarterly.
- Performance. Over the last 5 years, SPHQ returned 74.1% versus 70.5% for VFMO, with dividends reinvested. $10,000 would have grown to $17,415 in SPHQ and $17,048 in VFMO.
- Risk. Their worst declines over the last 5 years were similar: -25.8% for VFMO and -25.1% for SPHQ from peak to trough.
- Diversification. VFMO holds 638 positions and SPHQ holds 100. The ten largest positions make up 10.9% of VFMO and 44.0% of SPHQ.
- Overlap. At least 10% of the two portfolios overlap by weight, across 18 shared holdings. They mostly own different companies, so they can complement each other.
- Dividend growth. VFMO grew its yearly payout 10.0% a year over the last 4 years, versus 6.6% for SPHQ.
- Size. SPHQ is the larger fund with $18.8 billion in assets, against $1.9 billion for VFMO.
Bottom line: VFMO fits better if you care most about lower fees, faster dividend growth and broader diversification. SPHQ fits better if you care most about more income today and stronger 5-year returns.
Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
| Metric | VFMO Vanguard U.S. Momentum Factor ETF | SPHQ Invesco S&P 500 Quality ETF |
|---|---|---|
| Dividend yield (TTM) | 0.61% | 1.03% |
| Dividend / share (TTM) | $1.36 | $0.87 |
| Payout frequency | Quarterly | Quarterly |
| Last dividend | $0.3074 on Sep 25, 2026 | $0.1541 on Sep 25, 2026 |
| Ex-dividend date | Sep 23, 2026 | Sep 21, 2026 |
| Dividend growth (CAGR) | 10.0% over 4 yrs | 6.6% over 4 yrs |
| Price | $220.63 | $84.34 |
| Dividend growth streak | 2 years | 1 year |
| Beta | 1.32 | 0.81 |
| Max drawdown (5Y) | -25.8% | -25.1% |
| Market cap | $1.90B | $18.73B |
| Exchange | CBOE | AMEX |
| Expense ratio | 0.13% | 0.20% |
| Assets under management | $1.90B | $18.83B |
| Number of holdings | 638 | 100 |
| Top 10 concentration | 10.9% | 44.0% |
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.
VFMO
$5.12/mo
$61 /yr at 0.61% yield
SPHQ
$8.58/mo
$103 /yr at 1.03% yield
Dividend history
Total dividends paid per share in each calendar year. VFMO pays quarterly; SPHQ pays quarterly.
| Year | VFMO | SPHQ |
|---|---|---|
| 2025 | $1.5700 | $0.8148 |
| 2024 | $1.1884 | $0.7699 |
| 2023 | $1.1663 | $0.7704 |
| 2022 | $1.9669 | $0.8147 |
| 2021 | $1.0724 | $0.6308 |
Strategy: Factor and momentum
Rules-based funds that tilt toward a single trait linked to long-run returns, such as momentum, quality or low volatility. Momentum funds rebalance into recent winners, quality funds favor high profitability and strong balance sheets, and low-volatility funds pick the steadiest stocks. The same label can hide very different rules, so the index methodology matters more than the name.
Factor tilts go through long dry spells, and momentum funds can turn over quickly and get caught out when market leadership changes.
Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 20, 2021 would now be worth $17,048 in VFMO and $17,415 in SPHQ.
| Period | VFMO | SPHQ |
|---|---|---|
| 1 month | -2.94% | 0.67% |
| 3 months | -3.25% | -0.52% |
| Year to date | 15.36% | 12.38% |
| 1 year | 12.45% | 13.62% |
| 3 years | 107.63% | 73.75% |
| 5 years | 70.48% | 74.15% |
- VFMO
- SPHQ
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.
- VFMO
- SPHQ
VFMO vs SPHQ holdings overlap
At least 10% overlap by weight, with 18 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 | VFMO weight | SPHQ weight |
|---|---|---|
| KLACKLA Corp | 1.24% | 2.19% |
| AMATApplied Materials Inc | 1.22% | 2.17% |
| LRCXLam Research Corp | 1.02% | 3.74% |
| WDCWestern Digital Corp | 0.98% | 2.02% |
| SNDKSandisk Corp | 0.98% | 2.72% |
| GEVGE Vernova Inc | 0.84% | 3.84% |
| NEMNewmont Corp | 0.49% | 1.85% |
| JCIJohnson Controls International plc | 0.41% | 0.98% |
| CSCOCisco Systems Inc | 0.31% | 3.49% |
| ROSTRoss Stores Inc | 0.29% | 0.74% |
Top 10 holdings
Largest positions by portfolio weight.
VFMO638 holdings total
Quick verdict
VFMO fits better if you care most about lower fees, faster dividend growth and broader diversification. SPHQ fits better if you care most about more income today and stronger 5-year returns. Model the holding inside your real portfolio before deciding.
Still deciding? Compare them in your portfolio
Forecast dividend income, track payouts, and see how VFMO vs SPHQ fits with the rest of your holdings. Free to start — no credit card required for the trial.
Frequently asked questions
Is VFMO or SPHQ better for dividend income?
It depends on your goals. VFMO currently yields 0.61% Trailing Twelve Months (TTM) while SPHQ yields 1.03%. 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 VFMO and SPHQ?
Vanguard U.S. Momentum Factor ETF (VFMO) is an ETF listed on CBOE. Invesco S&P 500 Quality ETF (SPHQ) 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, VFMO or SPHQ?
VFMO has the lower expense ratio. VFMO charges 0.13% a year and SPHQ charges 0.20%, a difference of $7 a year on a $10,000 investment.
Which has performed better, VFMO or SPHQ?
Over the last 5 years, SPHQ has the higher total return with dividends reinvested: VFMO returned 70.5% and SPHQ returned 74.1%. Past performance does not predict future returns.
Which is riskier, VFMO or SPHQ?
Measured by the worst peak-to-trough decline over the last five years, VFMO has been riskier: VFMO fell as much as 25.8% and SPHQ as much as 25.1%. Their betas are 1.32 and 0.81.
How much do VFMO and SPHQ overlap?
At least 10% of the two portfolios overlap by weight, across 18 shared holdings. The largest shared positions are KLAC, AMAT, LRCX. Holding both still adds meaningful diversification.
How often do VFMO and SPHQ pay dividends?
Both pay quarterly. The most recent payments were $0.3074 for VFMO and $0.1541 for SPHQ.
How much income does $10,000 in VFMO vs SPHQ generate?
At current TTM yields, $10,000 in VFMO would generate roughly $5.12 per month ($61 annually). The same amount in SPHQ would produce about $8.58 per month ($103 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both VFMO and SPHQ?
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 VFMO vs SPHQ with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how VFMO and SPHQ 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.
Related comparisons
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.