⚖️ SPHD vs SCHD Comparison · Free & No Signup

SPHD vs SCHD: Highest-Yielding S&P 500 Stocks vs Quality Dividend Screener

SPHD chases yield AND low volatility from the S&P 500. SCHD chases financial quality and dividend consistency. Both distribute income — but very different income.

💰 SCHD is cheaper 🔬 Compare top 10 holdings → 💡 Plain-English verdict

🤝 BFF Take

SCHD Wins on Performance and Cost — SPHD's Dual Screen Creates Tradeoffs

SPHD (Invesco S&P 500 High Dividend Low Volatility ETF) and SCHD (Schwab US Dividend Equity ETF) are both income-focused ETFs, but with distinct philosophies. SPHD screens the S&P 500 for the 75 highest-yielding stocks, then selects the 50 with the lowest volatility — optimizing for both yield and stability. It charges 0.30% and typically yields 4-5%. SCHD screens for 10-year dividend history, strong financial ratios (cash flow, dividend growth, ROE), and decent yield — 100 stocks at 0.06%. SCHD has significantly outperformed SPHD over most time periods because its quality screen avoids "yield traps" — companies with high yields driven by falling stock prices rather than business strength. SCHD is also 5x cheaper.

📋 Quick Takeaways

💵SPHD yields 4-5%; SCHD yields 3.5-4% — SPHD pays more income but has weaker total returns

💰SCHD costs 0.06% vs SPHD's 0.30% — SCHD is 5x cheaper for better historical performance

🛡️SPHD explicitly minimizes volatility alongside maximizing yield — a dual screen SCHD doesn't use

📊 Data-Based Take: SCHD has the lower fee

Whether the lower-cost fund suits your situation depends on your existing holdings, account type, tax situation, and how you use each fund. This is a cost comparison, not a personalized recommendation.

✓ Reviewed by a CFA® Charterholder · Data as of Jul 14, 2026 · Educational only, not financial advice

SPHD

Invesco S&P 500 High Dividend Low Volatility ETF

Expense Ratio

0.30%

1-Year Return

+6.7%

AUM

$3.3B

Holdings

SCHD

Schwab U.S. Dividend Equity ETF

Expense Ratio

0.06% ✓

1-Year Return

+18.6%

AUM

$95.7B

Holdings

100

📋 SPHD vs SCHD — Key Facts Side by Side

Metric	SPHD	SCHD
Fund Name	Invesco S&P 500 High Dividend Low Volatility ETF	Schwab U.S. Dividend Equity ETF
Issuer	Invesco	Schwab
Tracks Index	S&P 500 Low Volatility High Dividend	Dow Jones US Dividend 100
Expense Ratio	0.30%	0.06% ✓
Cost per $10K/yr	$30.00	$6.00
AUM	$3.3B	$95.7B
Holdings	50	100
Inception	2012	2011
1-Year Return	+6.69%	+18.64%
3-Year Return	+12.16%	+14.60%
5-Year Return	+7.31%	+8.77%
Dividend Yield	4.58%	3.30%
Holdings Overlap	See holdings overlap →
Avg Bid-Ask Spread	0.01%	0.00%

Expense ratio, AUM, and returns updated Jul 14, 2026 from ETF BFF database. Returns are annualised. Not investment advice.

📊 SPHD vs SCHD — Annualised Returns

Annualised returns (trailing, price-based). Past performance does not guarantee future results.

🎯 Which Fund Fits Which Investor?

Often fits investors who...

SPHD

want regular dividend income from quality dividend payers
already use Invesco and prefer staying within one fund family

Often fits investors who...

SCHD

want the lowest fees: saves ~$24/yr per $10K vs SPHD
want broader diversification (100 holdings vs 50)
want regular dividend income from quality dividend payers

💰 What the Fee Difference Actually Costs

Adjust the numbers for your situation. This models each fund's expense ratio compounding against your balance over time.

Investment amount$ Years held Expected annual return%

Assumes a constant annual return reinvested, with each fund's expense ratio deducted yearly. Illustrative only; actual returns vary. Past performance does not guarantee future results.

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❓ SPHD vs SCHD — Frequently Asked Questions

What is the difference between SPHD and SCHD?

SPHD selects 50 stocks from the S&P 500 with the highest dividend yields AND the lowest price volatility. SCHD selects 100 stocks based on 10-year dividend payment history plus financial quality metrics (cash flow, dividend growth, return on equity). SPHD explicitly screens for low volatility; SCHD does not but produces quality through its financial screens. SPHD charges 0.30%; SCHD charges 0.06%.

Does SPHD have less volatility than SCHD?

SPHD explicitly screens for low volatility — its holdings are chosen partly for their low price swings. In practice, SPHD tends to decline less during market crashes but also rises less during bull markets. SCHD is not specifically screened for low volatility but its quality tilt provides some natural dampening. Both are less volatile than the S&P 500 overall, but SPHD is designed specifically for that characteristic.

Why has SCHD outperformed SPHD?

SCHD's quality screen (cash flow strength, dividend consistency, ROE) has effectively filtered out dividend trap companies — firms with high yields because their stock price fell due to deteriorating fundamentals. SPHD's high-yield selection can include such companies. Additionally, SCHD's 5x lower expense ratio means more of each return is kept by investors. The quality screen + lower fee combination has compounded into meaningful outperformance.

Is SPHD a good income ETF?

SPHD does what it says — it delivers higher-than-average yields with lower-than-average volatility. For investors specifically prioritizing income stability and low price swings over total return, it has merit. However, the 0.30% expense ratio and weaker total return track record compared to SCHD make it a difficult recommendation for most dividend investors who can get better income AND better returns from SCHD at a fraction of the cost.

What sectors dominate SPHD and SCHD?

SPHD has historically been heavily concentrated in utilities, real estate, and consumer staples — sectors that pay high dividends and exhibit lower volatility. SCHD tends toward financials, healthcare, consumer staples, and industrials — quality businesses with long dividend track records. SPHD's utility and REIT concentration makes it sensitive to interest rate changes; rising rates tend to hurt SPHD more than SCHD.

New to ETF investing? See answers to the most common ETF questions →

📄 SPHD & SCHD Fact Sheets

SPHD Fact Sheet→ SCHD Fact Sheet→

ℹ️ Data shown is for educational purposes and may not reflect the most current figures. Returns are trailing price-based and exclude dividend reinvestment. Past performance does not guarantee future results. ETF BFF is not a licensed financial advisor — this is not personalized financial advice.