ETF Comparison
SPYD vs SPHD: Which Is the Better Pick in 2026?
A head-to-head comparison of SPDR Portfolio S&P 500 High Dividend ETF and Invesco S&P 500 High Dividend Low Volatility ETF covering yield, cost, risk, and income potential.
Data updated April 5, 2026
Side-by-side snapshot
| SPYD | SPHD | |
|---|---|---|
| Full name | SPDR Portfolio S&P 500 High Dividend ETF | Invesco S&P 500 High Dividend Low Volatility ETF |
| Issuer | State Street | Invesco |
| Price | $45.35 | $49.43 |
| Distribution yield | 4.08% | 3.94% |
| Expense ratio | 0.07% | 0.30% |
| AUM | $7.5B | $3.4B |
| Distribution frequency | Quarterly | Monthly |
| Underlying index | S&P 500 High Dividend Index | S&P 500 Low Volatility High Dividend Index |
| Objective | Track the S&P 500 High Dividend Index, holding the highest-yielding stocks within the S&P 500. | Dividend Income |
| Asset class | Equity | Equity |
| Inception date | 10/21/2015 | — |
| Beta | 0.77 | 0.58 |
| Last dividend | $0.45 | $0.21 |
| Ex-dividend date | 03/23/2026 | 03/23/2026 |
Visual comparison
Key metrics
Projected income on $10K
Projections assume the current yield and share price remain constant. Actual results will vary.
Quick verdict
SPYD (SPDR Portfolio S&P 500 High Dividend ETF) and SPHD (Invesco S&P 500 High Dividend Low Volatility ETF) are both popular quarterly-pay track the s&p 500 high dividend index, holding the highest-yielding stocks within the s&p 500. ETFs, but they take different approaches.
SPYD offers the higher yield at 4.08% vs 3.94% for SPHD. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
SPYD is cheaper with an expense ratio of 0.07% compared to 0.30%.
They track different benchmarks: SPYD is linked to S&P 500 High Dividend Index while SPHD tracks S&P 500 Low Volatility High Dividend Index, which means their performance drivers differ.
SPYD is the larger fund by assets ($7.5B), which generally means tighter spreads and better liquidity.
Deep dive
Yield & income
On a $10,000 investment, SPYD would generate roughly $34.00/month while SPHD would produce $32.83/month at current distribution rates. Both pay quarterly distributions.
Cost & efficiency
Over 10 years on $10,000, SPYD would cost approximately $70 in fees vs $300 for SPHD (simplified, not compounded). The $230.00 difference may be offset by yield or performance.
Strategy & risk
SPYD tracks S&P 500 High Dividend Index with a track the s&p 500 high dividend index, holding the highest-yielding stocks within the s&p 500. approach, while SPHD tracks S&P 500 Low Volatility High Dividend Index using a dividend income strategy. Beta is 0.77 for SPYD and 0.58 for SPHD, indicating SPHD is less volatile relative to the market.
Fund details
SPYD is managed by State Street (launched 10/21/2015) with $7.5B in assets. SPHD is managed by Invesco (launched —) with $3.4B in assets.
Income calculator
See how much monthly income a hypothetical investment would generate in each ETF at current yields.
Frequently asked questions
Is SPYD or SPHD better for dividend income?
It depends on your goals. SPYD currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between SPYD and SPHD?
SPYD (SPDR Portfolio S&P 500 High Dividend ETF) tracks S&P 500 High Dividend Index with a track the s&p 500 high dividend index, holding the highest-yielding stocks within the s&p 500. strategy, while SPHD (Invesco S&P 500 High Dividend Low Volatility ETF) tracks S&P 500 Low Volatility High Dividend Index with a dividend income approach. They are issued by State Street and Invesco respectively.
Can I hold both SPYD and SPHD?
Yes. Many income investors hold both to diversify across different strategies and underlying indexes. This can reduce concentration risk while maintaining a strong income stream.
Which has lower fees, SPYD or SPHD?
SPYD has an expense ratio of 0.07% while SPHD charges 0.30%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in SPYD vs SPHD generate?
At current yields, $10,000 in SPYD would generate roughly $34.00 per month ($408.00 annually). The same in SPHD would produce about $32.83 per month ($394.00 annually).
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