FVD vs SPHD: Holdings Overlap
FVDFirst Trust Value Line Dividend Index Fund
First Trust · 236 holdings · $8.4B · as of 2026-03-31
SPHDInvesco S&P 500 High Dividend Low Volatility ETF
Invesco · 49 holdings · $3.4B · as of 2026-05-31
Holdings snapshots are 61 days apart (FVD: 2026-03-31, SPHD: 2026-05-31). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are FVD and SPHD?
First Trust Value Line Dividend Index Fund (FVD, by First Trust) holds 236 positions; Invesco S&P 500 High Dividend Low Volatility ETF (SPHD, by Invesco) holds 49. They have 32 holdings in common, and by portfolio weight the two funds are 13.7% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 13.7%Sum of the smaller weight of each shared holding
- Shared Holdings
- 32FVD holds 236 · SPHD holds 49
- Weight in Shared Holdings
- FVD 14%·SPHD 66%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in FVD
204 of 236 positions (86.1% of the fund) are not held by SPHD. Showing the top 30 by weight.
Sector Breakdown
| Sector | FVD | SPHD |
|---|---|---|
| Real Estate | 8.0% | 21.2% |
| Utilities | 18.9% | 13.8% |
| Financials | 18.5% | 16.0% |
| Consumer Staples | 10.4% | 18.1% |
| Industrials | 15.1% | 1.4% |
| Other Sectors | 24.2% | 28.8% |
| Unclassified | 4.7% | 0.0% |
Share of each fund's portfolio weight by GICS-style sector, compiled from issuer fund data and our own classification of the holdings, not the issuers' published sector charts. “Unclassified” is weight we could not classify (5% of FVD, 0% of SPHD).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| FVD | +2.8% | +11.6% | +14.7% | +10.6% | +6.9% | +8.8% | 2.20% |
| SPHD | +1.0% | +12.8% | +14.8% | +12.6% | +8.0% | +7.2% | 4.54% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in FVD vs SPHD →
Shared Holdings(32)
The top 10 shared positions account for 32% of the overlap, led by BMY, CPB and KHC.
 BMYBristol-Myers Squibb Company COM | 0.45% | 2.06% | 0.45% |
|---|---|---|---|
 CPBThe Campbells Co. COM | 0.44% | 1.92% | 0.44% |
 KHCThe Kraft Heinz Co. COM | 0.44% | 3.01% | 0.44% |
 XOMExxon Mobil Corp. COM | 0.44% | 1.54% | 0.44% |
 PFEPfizer Inc. COM | 0.44% | 2.98% | 0.44% |
 GPCGenuine Parts Co COM | 0.44% | 1.03% | 0.44% |
 EXCExelon Corp. COM | 0.44% | 1.59% | 0.44% |
 FEFirstEnergy Corp. COM | 0.44% | 1.64% | 0.44% |
 PRUPrudential Financial, Inc. COM | 0.43% | 1.87% | 0.43% |
 DDominion Energy Inc COM | 0.43% | 2.13% | 0.43% |
 PNWPinnacle West Capital Corp. COM | 0.43% | 1.84% | 0.43% |
 EVRGEvergy Inc COM | 0.43% | 1.69% | 0.43% |
 DUKDuke Energy Corp COM NEW | 0.43% | 1.58% | 0.43% |
 DTEDTE Energy Co. COM | 0.43% | 1.53% | 0.43% |
 MOAltria Group, Inc. COM | 0.43% | 3.43% | 0.43% |
 TROWPrice T Rowe Group Inc. COM | 0.43% | 2.08% | 0.43% |
 ESEversource Energy COM | 0.43% | 1.82% | 0.43% |
 CAGConagra Brands Inc COM | 0.43% | 2.31% | 0.43% |
 HRLHormel Foods Corp COM | 0.42% | 1.98% | 0.42% |
 VICIVici Properties Inc COM | 0.42% | 2.66% | 0.42% |
 AMCRAmcor PLC COM NEW | 0.42% | 2.40% | 0.42% |
 CVXChevron Corp. COM | 0.42% | 2.09% | 0.42% |
 ORealty Income Corporation COM | 0.42% | 2.42% | 0.42% |
 PSAPublic Storage COM | 0.42% | 2.07% | 0.42% |
 GISGeneral Mills, Inc. COM | 0.42% | 1.70% | 0.42% |
Frequently Asked Questions
How much do FVD and SPHD overlap?
FVD and SPHD overlap by 13.7% of portfolio weight. They share 32 holdings (FVD holds 236 positions and SPHD holds 49), based on each fund's latest SEC-reported holdings.
Is it redundant to own both FVD and SPHD?
The two portfolios are 13.7% identical by weight. Owning both is not redundant. Most of each portfolio is distinct, so the funds can serve different roles.
What are the biggest shared holdings of FVD and SPHD?
The largest positions held by both funds are BMY, CPB, KHC, XOM and PFE. Together the top 10 shared positions account for 32% of the total overlap.
What does FVD own that SPHD doesn't?
204 positions (86.1% of FVD) are unique to FVD, led by ETR, RIO and SNY. In the other direction, 17 positions (33.4% of SPHD) are unique to SPHD.