A head-to-head comparison of Invesco S&P 500 High Dividend Low Volatility ETF and Vanguard High Dividend Yield Index Fund ETF Shares covering yield, cost, risk, and income potential.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Invesco is a major player in the ETF space known for offering a broad, diversified lineup of 71 funds spanning multiple investment themes and strategies. Their portfolio spans income-focused funds, factor-based equity strategies, commodity exposure, digital assets, ESG investing, and the popular Invesco QQQ family tracking the Nasdaq-100, serving both income-seeking and growth-oriented investors. The issuer is particularly recognized for specialized offerings like BulletShares (laddered bond funds), sector rotation strategies, and thematic investing options, making it a comprehensive choice for investors seeking varied exposures beyond traditional index funds.
See our curated list of related YouTube videos on SPHD.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Vanguard is known for offering low-cost, passively managed ETFs that emphasize broad market exposure and long-term investing. The company operates 175 ETFs across diverse fund families including Index, Bond, Equity, Dividend, Income, International, Factor, and ESG strategies, serving investors with various goals from core portfolio building to specialized income generation. Notable for its scale and popular tickers like VB (total U.S. small-cap), BND (total bond market), and VBIAX (international bonds), Vanguard focuses on providing comprehensive, index-based investment solutions with an emphasis on cost efficiency and accessibility.
See our curated list of related YouTube videos on VYM.
Vanguard High Dividend Yield Index Fund ETF Shares
Issuer
Invesco
Vanguard
Last Close
$51.98 as of July 15, 2026
$160.18 as of July 15, 2026
Distribution yield
4.86%
2.45%
Distribution Safety Score
93
100
Expense ratio
0.30%
0.06%
AUM
$3.28B
$78.3B
Distribution frequency
Monthly
Quarterly
Underlying index
S&P 500 Low Volatility High Dividend Index
a basket of Vanguard High Dividend Yield ETF holdings
Objective
Dividend Income
Seeks to track the performance of the FTSE High Dividend Yield Index, which offers exposure to dividend-paying large-cap companies that exhibit value characteristics within the U.S. equity market. The index includes stocks with a history of paying above-average dividends.
Asset class
Equity
Equity
Inception date
10/18/2012
11/10/2006
Beta
0.47
0.69
Last dividend
$0.2106
$0.9800
Ex-dividend date
06/22/2026
06/18/2026
Bottom lineChoose SPHD if you want higher current income (4.86% vs 2.45% for VYM). Choose VYM if you want simple, diversified core exposure in one low-cost fund.
Most used
Income calculator
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Projections assume the current yield and share price remain constant. Actual results will vary.
Quick verdict
SPHD (Invesco S&P 500 High Dividend Low Volatility ETF) and VYM (Vanguard High Dividend Yield Index Fund ETF Shares) are both dividend ETFs, but they take different approaches.
SPHD offers the higher yield at 4.86% vs 2.45% for VYM. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
VYM is cheaper with an expense ratio of 0.06% compared to 0.30%.
They track different benchmarks: SPHD is linked to S&P 500 Low Volatility High Dividend Index while VYM tracks a basket of Vanguard High Dividend Yield ETF holdings, which means their performance drivers differ.
VYM is the larger fund by assets ($78.3B), which generally means tighter spreads and better liquidity.
Who should choose each?
Choose SPHD
Invesco S&P 500 High Dividend Low Volatility ETF
Want higher current income — SPHD yields 4.86% vs 2.45% for VYM.
Want a quality-dividend tilt — screened payers rather than the broad index.
Prefer lower volatility — a beta of 0.5 vs 0.7 for VYM.
Choose VYM
Vanguard High Dividend Yield Index Fund ETF Shares
Want simple, diversified core exposure as a portfolio building block.
Want to keep costs low — a 0.06% expense ratio vs 0.30% for SPHD.
Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.
Deep dive
Yield & income
On a $10,000 investment, SPHD would generate roughly $40.50/month, while VYM would produce $20.42/month, at current distribution rates.
SPHD yield4.86%
VYM yield2.45%
Monthly diff on $10K$20.08
Cost & efficiency
Over 10 years on $10,000, SPHD would cost approximately $300 in fees vs $60 for VYM (simplified, not compounded). The $240.00 difference may be offset by yield or performance.
SPHD ER0.30%
VYM ER0.06%
Strategy & risk
SPHD tracks S&P 500 Low Volatility High Dividend Index with a dividend income approach, while VYM holds a basket of Vanguard High Dividend Yield ETF holdings with an index approach. Beta is 0.47 for SPHD and 0.69 for VYM, indicating SPHD is less volatile relative to the market.
SPHD beta0.47
VYM beta0.69
Fund details
SPHD is managed by Invesco (launched 10/18/2012) with $3.28B in assets. VYM is managed by Vanguard (launched 11/10/2006) with $78.3B in assets.
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Frequently asked questions
Is SPHD or VYM better for dividend income?
It depends on your goals. SPHD 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 SPHD and VYM?
SPHD (Invesco S&P 500 High Dividend Low Volatility ETF) tracks S&P 500 Low Volatility High Dividend Index with a dividend income approach, while VYM (Vanguard High Dividend Yield Index Fund ETF Shares) holds a basket of Vanguard High Dividend Yield ETF holdings with an index approach. They are issued by Invesco and Vanguard respectively.
Can I hold both SPHD and VYM?
Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.
Which has lower fees, SPHD or VYM?
SPHD has an expense ratio of 0.30% while VYM charges 0.06%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in SPHD vs VYM generate?
At current rates, $10,000 in SPHD would generate roughly $40.50 per month ($486.00 annually). The same in VYM would produce about $20.42 per month ($245.00 annually).
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