SPHB vs SPY
SPHB vs SPY
Invesco S&P 500 High Beta ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPHB delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SPHB | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.25% | 0.09% | |
| AUM | $983M | $789.1B | |
| Dividend Yield | 0.52% | 1.01% | |
| Holdings | 103 | 505 | |
| YTD Return | +25.10% | +13.28% | |
| 1Y Return | +47.07% | +23.94% | |
| 3Y Return (annualized) | +25.13% | +21.07% | |
| 5Y Return (annualized) | +15.90% | +13.27% | |
| Volatility (annualized) | 24.6% | 15.3% | |
| Max Drawdown | -47.8% | -56.5% | |
| Fund Family | Invesco (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | May 5, 2011 | Jan 22, 1993 |
SPHB vs SPY Performance
Invesco S&P 500 High Beta ETF (SPHB) is a ETF from Invesco (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year SPHB returned +47.07% while SPY returned +23.94%. Year to date, SPHB is up 25.10% versus a gain of 13.28% for SPY.
Over three years, SPHB compounded at +25.13% per year against +21.07% for SPY; over five years the annualized figures are +15.90% and +13.27% respectively. Across the full 15-year window we track, SPHB has the edge at +12.94% annualized vs +8.84%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPHB has been the more volatile fund, with annualized monthly volatility of 24.6% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -47.8% for SPHB and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.89. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPHB charges 0.25% per year while SPY charges 0.09%. On a $10,000 position that is $25 vs $9 annually, a gap of $16 per year that compounds over a long holding period. On income, SPHB currently yields 0.52% against 1.01% for SPY.
Holdings Overlap
SPHB and SPY share 96 holdings out of 507 unique holdings combined, representing a 19.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in SPHB | Weight in SPY | Difference |
|---|---|---|---|
| NVDA | 0.83% | 7.31% | 6.48% |
| AMZN | 0.67% | 3.69% | 3.02% |
| MU | 2.17% | 1.71% | 0.46% |
| AVGO | Pro | Pro | Pro |
| SNDK | Pro | Pro | Pro |
| TSLA | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| AMAT | Pro | Pro | Pro |
| LRCX | Pro | Pro | Pro |
| KLAC | Pro | Pro | Pro |
See all 10 holdings SPHB shares with SPY Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, SPHB or SPY?
SPHB has an expense ratio of 0.25% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $16 per year of difference.
Which performed better, SPHB or SPY?
Over the past year SPHB returned +47.07% vs +23.94% for SPY, so SPHB leads on 1-year performance. Over the longest common window we track (15 years), SPHB annualized +12.94% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, SPHB or SPY?
SPHB has been the more volatile fund at 24.6% annualized versus 15.3% for SPY. Worst drawdown: SPHB -47.8% vs SPY -56.5%.
Should I hold both SPHB and SPY?
SPHB and SPY have a monthly-return correlation of 0.89, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPHB and SPY?
SPHB and SPY share 96 common holdings with a 19.5% weight overlap. Combined, they hold 507 unique securities.
Which pays a higher dividend, SPHB or SPY?
SPHB yields 0.52% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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