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As the name implies, the Invesco S&P 500 High Dividend Low Volatility ETF (SPHD) tracks an index that tries to pick those S&P 500 stocks that deliver the highest dividends with the least turbulence.
Not surprisingly, SPHD tends to be heavy on utility stocks and light on fast-growing tech companies. SPHD imposes guardrails that prevent a single sector from dominating the portfolio, with each sector limited to ten stocks and 25% of the portfolio at rebalance. Between rebalances, better-performing sectors can become a bigger slice of the pie. As of March 2020, the fund has 37% of its money in financial stocks.
SPHD is a bit on the pricey side for dividend funds, but reasonable for factor funds. There are other, cheaper low-vol funds out there, such as Invesco’s own SPLV or the iShares Edge MSCI Min Vol USA ETF. And there are plenty of funds that chase dividends, like the ultra-low-cost Vanguard High Dividend Yield ETF (VYM). But SPHD the only ETF targeting that specific combination of factors.
As with most ETFs that invest in the S&P 500 universe, there’s plenty of liquidity in the underlying stocks, so institutional investors should find it easy to execute large block trades.
Historical Trading Data
1 Month Avg. Volume1,084,326
3 Month Avg. Volume1,169,385
Alternative ETFs in the Volatility Hedged Equity Category
5 Day Net Flows:
-25.53 M
1 Month Net Flows:
-42.16 M
3 Month Net Flows:
-146.7 M
6 Month Net Flows:
-306.08 M
1 Year Net Flows:
-396.48 M
3 Year Net Flows:
42.58 M
5 Year Net Flows:
2.17 B
10 Year Net Flows:
2.63 B
Realtime Rating
The adjacent table gives investors an individual Realtime Rating for SPHD on several different metrics, including liquidity, expenses, performance, volatility, dividend, concentration of holdings in addition to an overall rating. The "A+ Metric Rated ETF" field, available to ETFdb Pro members, shows the ETF in the Volatility Hedged Equity with the highest Metric Realtime Rating for each individual field. To view all of this data, sign up for a free 14-day trial for ETFdb Pro. To view information on how the ETFdb Realtime Ratings work, click here.
Fact sheets are issued by the ETF provider and framed by ETFdb.com. Information contained within the fact sheet is not guaranteed to be timely or accurate.
Copyright MSCI ESG Research LLC [2018]. All Rights Reserved. MSCI ESG Research LLC’s (“MSCI ESG”) Fund Metrics products (the “Information”) provide environmental, social and governance data with respect to underlying securities within more than 23,000 multi-asset class Mutual Funds and ETFs globally. MSCI ESG is a Registered Investment Adviser under the Investment Advisers Act of 1940. MSCI ESG materials have not been submitted, to nor received approval from, the US SEC or any other regulatory body. None of the information constitutes an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product or trading strategy, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. None of the Information can be used to determine which securities to buy or sell or when to buy or sell them. The Information is provided “as is” and the user of the Information assumes the entire risk of any use it may make or permit to be made of the Information. All Information is provided solely for your internal use, and may not be reproduced or redisseminated in any form without express prior written permission from MSCI. Neither MSCI ESG nor any of its affiliates or any third party involved in or related to creating any Information makes any express or implied warranties, representations or guarantees, and in no event will MSCI ESG or any such affiliate or third party have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) relating to any Information. More information on MSCI ESG Fund Metrics, provided by MSCI ESG Research LLC, can be found at https://www.msci.com/esg-fund-metrics.
Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use, please see disclaimer.
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