SPHD vs SPY: Holdings Overlap
SPHDInvesco S&P 500 High Dividend Low Volatility ETF
Invesco · 49 holdings · $3.4B · as of 2026-05-31
SPYState Street® SPDR® S&P 500® ETF Trust
State Street (SPDR) · 504 holdings · $812.0B · as of 2026-08-06
Holdings snapshots are 67 days apart (SPHD: 2026-05-31, SPY: 2026-08-06). 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 SPHD and SPY?
Invesco S&P 500 High Dividend Low Volatility ETF (SPHD, by Invesco) holds 49 positions; State Street® SPDR® S&P 500® ETF Trust (SPY, by State Street (SPDR)) holds 504. They have 46 holdings in common, and by portfolio weight the two funds are 4.0% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 4.0%Sum of the smaller weight of each shared holding
- Shared Holdings
- 46SPHD holds 49 · SPY holds 504
- Weight in Shared Holdings
- SPHD 94%·SPY 4%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 SPHD
3 of 49 positions (5.8% of the fund) are not held by SPY.
Sector Breakdown
| Sector | SPHD | SPY |
|---|---|---|
| Information Technology | 0.0% | 37.6% |
| Real Estate | 21.2% | 1.8% |
| Consumer Staples | 18.1% | 4.5% |
| Financials | 16.0% | 12.3% |
| Utilities | 13.8% | 2.0% |
| Other Sectors | 30.2% | 41.6% |
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.
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| SPHD | +1.0% | +12.8% | +14.8% | +12.6% | +8.0% | +7.2% | 4.54% |
| SPY | +3.4% | +14.0% | +23.7% | +21.2% | +13.3% | +15.3% | 0.97% |
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 SPHD vs SPY →
Shared Holdings(46)
The top 10 shared positions account for 56% of the overlap, led by CVX, VZ and T.
 CVXChevron Corp. COM | 2.09% | 0.53% | 0.53% |
|---|---|---|---|
 VZVerizon Communications Inc. COM | 3.47% | 0.30% | 0.30% |
 TAT&T Inc COM | 2.01% | 0.25% | 0.25% |
 PFEPfizer Inc. COM | 2.98% | 0.23% | 0.23% |
 BMYBristol-Myers Squibb Company COM | 2.06% | 0.20% | 0.20% |
 MOAltria Group, Inc. COM | 3.43% | 0.17% | 0.17% |
 USBU.S. Bancorp. COM NEW | 1.61% | 0.15% | 0.15% |
 DUKDuke Energy Corp COM NEW | 1.58% | 0.15% | 0.15% |
 CMCSAComcast Corporation CL A | 1.60% | 0.14% | 0.14% |
 WMBWilliams Companies Inc. (The) COM | 1.60% | 0.13% | 0.13% |
 EOGEOG Resources Inc. COM | 1.98% | 0.11% | 0.11% |
 TFCTruist Financial Corp. COM | 1.74% | 0.10% | 0.10% |
 KMIKinder Morgan, Inc. COM | 1.96% | 0.09% | 0.09% |
 DDominion Energy Inc COM | 2.13% | 0.09% | 0.09% |
 ORealty Income Corporation COM | 2.42% | 0.09% | 0.09% |
 OKEOneok Inc. COM | 2.64% | 0.08% | 0.08% |
 PSAPublic Storage COM | 2.07% | 0.08% | 0.08% |
 FITBFifth Third Bancorp COM | 1.32% | 0.08% | 0.08% |
 EXCExelon Corp. COM | 1.59% | 0.07% | 0.07% |
 PRUPrudential Financial, Inc. COM | 1.87% | 0.06% | 0.06% |
 PAYXPaychex Inc COM | 1.45% | 0.06% | 0.06% |
 KMBKimberly-Clark Corporation COM | 2.08% | 0.05% | 0.05% |
 HBANHuntington Bancshares Incorporated COM | 1.33% | 0.05% | 0.05% |
 CCICrown Castle Inc. COM | 2.39% | 0.05% | 0.05% |
 EXRExtra Space Storage Inc. COM | 2.10% | 0.05% | 0.05% |
Frequently Asked Questions
How much do SPHD and SPY overlap?
SPHD and SPY overlap by 4.0% of portfolio weight. They share 46 holdings (SPHD holds 49 positions and SPY holds 504), based on each fund's latest SEC-reported holdings.
Is it redundant to own both SPHD and SPY?
The two portfolios are 4.0% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of SPHD and SPY?
The largest positions held by both funds are CVX, VZ, T, PFE and BMY. Together the top 10 shared positions account for 56% of the total overlap.
What does SPHD own that SPY doesn't?
3 positions (5.8% of SPHD) are unique to SPHD, led by CAG, CPB and XOM. In the other direction, 458 positions (96.0% of SPY) are unique to SPY.