SIZE vs SPHB: Grades, Fees and Holdings Compared

iShares MSCI USA Size Factor ETF

SIZEANYSE Arca

Invesco S&P 500 High Beta ETF

SPHBCNYSE Arca

Overlap

14.7%by weight

Expense ratio

SIZE −0.10pt a year

SIZE0.15%SPHB0.25%

Avg volume · 30D

SPHB 61.6×the volume

SIZE5.21KSPHB321K

10Y return · a year

SPHB +5.1pt

SIZE+12.0%SPHB+17.1%

SIZE vs SPHB Performance

Oct 29, 2021 – Oct 30, 2026

+43.6%SIZE+81.4%SPHB

Expense ratio: SIZE 0.15%, better; SPHB 0.25%
Fund size: SIZE $433M; SPHB $817M
1Y total return: SIZE +13.8%; SPHB +20.1%, better
Yield (12M): SIZE 1.37%, better; SPHB 0.55%
Holdings: SIZE 518; SPHB 100
Avg volume (30D): SIZE 5.21K sh; SPHB 321K sh, better
NAV per share: SIZE $180.22; SPHB $137.37
52W range

ETF.net Grade

Pillar letters and Scores for SIZE, SPHB, with each pillar’s weight
Pillar	SIZE	SPHB
Cost30% weight	A81Higher	B66
Mission25% weight	A93Higher	F13
Risk15% weight	B66Higher	D28
Tradability15% weight	F23	A81Higher
Holdings10% weight	A88Higher	A82
Durability5% weight	B57Higher	B55

Rank among US Factor Index funds

How we build Categories ›

Same Category. SIZE and SPHB are both graded against the same 30 US Factor Index funds, so their Grades compare head to head.

US Factor Index⁠

Category · 30 funds

See all 30 ›

SIZE ranks 3rd and SPHB 17th of 30 funds in the US Factor Index Category.

Rank 1AMGVVanguard Morningstar Mega Cap Value ETFScore 78
Rank 2AUSCAXtrackers MSCI USA Climate Action Equity ETFScore 74
Rank 3ASIZEiShares MSCI USA Size Factor ETFScore 72
Rank 4ADXUVU.S. Vector Equity Portfolio ETF Class SharesScore 70
Rank 15CXSMOInvesco S&P SmallCap Momentum ETFScore 51
Rank 17CSPHBInvesco S&P 500 High Beta ETFScore 50
Rank 18CHAPIHarbor Human Capital Factor US Large Cap ETF (HAPI)Score 49

Our read on each fund

ETF.net Research

SIZEAiShares MSCI USA Size Factor ETF

SPHBCInvesco S&P 500 High Beta ETF

In short

SIZE The size factor without leaving the large-cap pool: SIZE holds roughly 500 US stocks and leans toward the smaller names in that universe, spreading weight away from the mega-cap giants. An iShares factor original from 2013.

SPHB The S&P 500 with the volume knob turned up. SPHB holds about 100 of the index's most market-sensitive names, amplifying the market's swings in both directions using plain stocks, not leverage.

Stated mandate

SIZE The fund seeks to track an index of U.S. stocks that have smaller market capitalizations relative to their peers.

SPHB The Fund is based on the S&P 500® High Beta Index.

Why people hold it

SIZE Charges 0.15%, roughly half the typical fee among US factor ETFs.
Tracks the MSCI USA Low Size Index tightly, one of the closer index implementations in its peer group.
Roughly 500 holdings, so no single name dominates the way it does in a cap-weighted US index.
Running since 2013, one of the original iShares single-factor funds rather than a recent launch.ishares.com

SPHB 0.25% a year, below the 0.28% median for US factor ETFs. A specialty tilt priced like a mainstream one.
No leverage, no derivatives, no daily reset. Just about 100 S&P 500 stocks picked by a published S&P index rather than a manager's hunch.
Live since 2011 and one of the easier funds in its factor group to trade, so moving in and out tends to be cheap relative to peers.

Worth knowing

SIZE Thinly traded next to headline index funds, so bid-ask spreads can run wider and bigger orders need more care.
This is a tilt, not a small-cap fund: the index draws from US large and mid caps and favors the smaller end of that pool.
A mid-sized fund by category standards, not one of the asset-gathering giants. Pays quarterly.

SPHB High beta cuts both ways. The wiring that magnifies rallies magnifies selloffs, and this ranks among the most volatile funds in its factor peer group.
About 100 names, not 500, and the screen keeps whichever stocks are swinging hardest. The sector mix can look very different from one stretch to the next.
Distributions land quarterly, but income is a byproduct of the beta screen, not the design goal.

Full SIZE profile⁠

Full SPHB profile⁠

SIZE vs SPHB Holdings

How SIZE and SPHB differ

Overlap by weight

14.7%

Shared holdings make up 85.1% of SPHB and 14.7% of SIZE.

Level by level

Holdings84 in both14.7%
Sector11 Sectors66.8%
Countryby domicile97.9%
Asset classEquity100%

Sector

Sector weights in SIZE and SPHB, widest gap first
Sector	More in SIZEMore in SPHB	SIZE	SPHB
Technology	SPHB +32.6 points	17.9%	50.5%
Health Care	SIZE +7.2 points	12.8%	5.6%
Financials	SIZE +6.1 points	16.1%	10.0%
Consumer Staples	SIZE +4.8 points	5.7%	0.9%
Real Estate	SIZE +4.5 points	4.5%	0.0%
Energy	SIZE +3.6 points	4.3%	0.7%
Utilities	SIZE +3.0 points	5.2%	2.2%
Industrials	SIZE +2.0 points	16.2%	14.2%
Materials	SIZE +1.6 points	4.8%	3.2%
Consumer Discretionary	SPHB +0.5 points	9.0%	9.5%
Communication	SIZE +0.3 points	3.3%	3.0%

Country, concentration and asset class

Country by domicile

Country weights in SIZE and SPHB, widest gap first
Country	More in SIZEMore in SPHB	SIZE	SPHB
Mexico	SPHB +1.0 points	0.1%	1.1%
China	SPHB +0.7 points	0.2%	0.9%
United Kingdom	SIZE +0.6 points	0.6%	0.0%
Switzerland	SIZE +0.6 points	0.6%	0.0%
Other countries (5)	SIZE +0.5 points	98.5%	98.0%

Concentration

Weight in the 10 largest Holdings

SIZE3.7%
SPHB19.1%

Securities held

SIZE515
SPHB99

Asset class

SIZE: Equity
SPHB: Equity

Holdings

Only in SIZE431
In both84
Only in SPHB15

Only in SIZE

431 securities, 85.1% of SIZE by weight

Okta Class A0.47%
Atlassian Corp Class A0.42%
Natera0.40%
Sharkninja0.39%
Veeva Systems Class A0.36%
Vivmark Residential0.36%
Snowflake0.33%
Illumina Inc0.32%
Everpure Inc Class A0.32%
Best Buy0.32%
Marathon Petroleum0.31%
Mettler Toledo0.30%
Agilent Technologies Inc0.30%
Iqvia Holdings Inc0.29%
Cdw0.29%
Workday Class A0.29%
Dollar Tree Inc0.28%
Phillips 660.28%
Williams Sonoma Inc0.28%
Valero Energy Corp0.28%
Thermo Fisher Scientific0.27%
Global Payments Inc0.27%
Labcorp Holdings0.27%
Regeneron Pharmaceuticals0.27%
Jacobs Solutions Inc0.27%
Roper Technologies0.27%
Toast Class A0.27%
Palo Alto Networks0.27%
Hp Inc0.26%
Samsara Class A0.26%
Accenture PLC Class A0.26%
Waters Corp0.26%
Ptc0.26%
West Pharmaceutical Services0.26%
Zscaler0.26%
Genuine Parts0.26%
Corebridge Financial Inc0.25%
Ulta Beauty Inc0.25%
Quest Diagnostics Inc0.25%
Expedia Group0.25%
Biogen0.25%
Arthur J Gallagher0.25%
Becton Dickinson0.25%
Humana0.25%
Amcor PLC0.25%
International Flavors & Fragrances0.25%
Amgen Inc0.25%
Danaher0.25%
Cloudflare Class A0.25%
Cheniere Energy0.25%

Only in SPHB

15 securities, 14.9% of SPHB by weight

Moderna Inc3.24%
Norwegian Cruise Line Holdings Ltd1.02%
Block Inc1.00%
Revvity Inc0.98%
Generac Holdings Inc0.92%
Charles River Laboratories International Inc0.92%
Zebra Technologies Corp0.89%
Invesco Ltd0.84%
Stanley Black & Decker Inc0.83%
Southwest Airlines Co0.80%
Ralph Lauren Corp0.76%
Aptiv PLC0.73%
Align Technology Inc0.70%
Lululemon Athletica Inc0.68%
Albemarle Corp0.57%

Weight gaps

All 84 Holdings in both funds, largest gap first.

Holding weights in SIZE and SPHB, widest gap first
Holding	More in SIZEMore in SPHB	SIZE	SPHB
SandiskSNDK	SPHB +2.16 points	0.14%	2.30%
Advanced Micro DevicesAMD	SPHB +1.79 points	0.20%	1.99%
Micron TechnologyMU	SPHB +1.66 points	0.21%	1.87%
Coinbase Global Class ACOIN	SPHB +1.63 points	0.14%	1.77%
Super Micro Computer IncSMCI	SPHB +1.53 points	0.21%	1.74%
Marvell TechnologyMRVL	SPHB +1.43 points	0.20%	1.63%
Lumentum HoldingsLITE	SPHB +1.37 points	0.17%	1.54%
Robinhood Markets Class AHOOD	SPHB +1.36 points	0.21%	1.57%
Tesla IncTSLA	SPHB +1.32 points	0.16%	1.48%
Intel CorporationINTC	SPHB +1.27 points	0.10%	1.37%
Western Digital CorpWDC	SPHB +1.27 points	0.14%	1.41%
Lam ResearchLRCX	SPHB +1.19 points	0.15%	1.34%
TeradyneTER	SPHB +1.12 points	0.16%	1.28%
Vertiv Holdings Class AVRT	SPHB +1.09 points	0.13%	1.22%
QualcommQCOM	SPHB +1.05 points	0.15%	1.20%
On Semiconductor CorpON	SPHB +1.04 points	0.13%	1.17%
CienaCIEN	SPHB +1.04 points	0.11%	1.15%
KlaKLAC	SPHB +1.04 points	0.16%	1.20%
CoherentCOHR	SPHB +1.04 points	0.11%	1.15%
Monolithic Power Systems IncMPWR	SPHB +1.01 points	0.15%	1.16%
Flex LtdFLEX	SPHB +0.98 points	0.13%	1.11%
CorningGLW	SPHB +0.97 points	0.12%	1.09%
Applied Material IncAMAT	SPHB +0.96 points	0.16%	1.12%
Carnival Corp LtdCCL	SPHB +0.94 points	0.23%	1.17%
Freeport Mcmoran IncFCX	SPHB +0.95 points	0.19%	1.14%
Microchip Technology IncMCHP	SPHB +0.94 points	0.16%	1.10%
Nxp Semiconductors NVNXPI	SPHB +0.95 points	0.16%	1.11%
Carvana Class ACVNA	SPHB +0.92 points	0.20%	1.12%
Comfort Systems UsaFIX	SPHB +0.90 points	0.12%	1.02%
SynopsysSNPS	SPHB +0.90 points	0.17%	1.07%
Applovin Class AAPP	SPHB +0.90 points	0.08%	0.98%
Seagate Technology Holdings PLCSTX	SPHB +0.89 points	0.15%	1.04%
Broadcom IncAVGO	SPHB +0.83 points	0.13%	0.96%
NVIDIANVDA	SPHB +0.83 points	0.14%	0.97%
OracleORCL	SPHB +0.83 points	0.12%	0.95%
Skyworks SolutionsSWKS	SPHB +0.81 points	0.22%	1.03%
Echostar Class AECHO	SPHB +0.81 points	0.13%	0.94%
Palantir Technologies Class APLTR	SPHB +0.80 points	0.23%	1.03%
Arista NetworksANET	SPHB +0.79 points	0.21%	1.00%
Analog DevicesADI	SPHB +0.79 points	0.18%	0.97%
Ge VernovaGEV	SPHB +0.79 points	0.15%	0.94%
Cadence Design SystemsCDNS	SPHB +0.78 points	0.17%	0.95%
United Airlines HoldingsUAL	SPHB +0.77 points	0.22%	0.99%
Interactive Brokers Group Inc ClasIBKR	SPHB +0.76 points	0.17%	0.93%
Keysight TechnologiesKEYS	SPHB +0.76 points	0.16%	0.92%
Dell Technologies Inc Class CDELL	SPHB +0.75 points	0.32%	1.07%
JabilJBL	SPHB +0.73 points	0.15%	0.88%
Hewlett Packard EnterpriseHPE	SPHB +0.72 points	0.31%	1.03%
Emcor GroupEME	SPHB +0.68 points	0.15%	0.83%
Royal Caribbean GroupRCL	SPHB +0.68 points	0.23%	0.91%
Te Connectivity PLCTEL	SPHB +0.67 points	0.20%	0.87%
Quanta Services IncPWR	SPHB +0.66 points	0.16%	0.82%
Texas InstrumentTXN	SPHB +0.67 points	0.17%	0.84%
Estee Lauder Inc Class AEL	SPHB +0.67 points	0.27%	0.94%
Amphenol Corp Class AAPH	SPHB +0.67 points	0.23%	0.90%
Crowdstrike Holdings Class ACRWD	SPHB +0.64 points	0.29%	0.93%
Meta Platforms Class AMETA	SPHB +0.64 points	0.17%	0.81%
Rockwell Automation IncROK	SPHB +0.64 points	0.19%	0.83%
Delta Air LinesDAL	SPHB +0.63 points	0.22%	0.85%
Emerson ElectricEMR	SPHB +0.63 points	0.23%	0.86%
VistraVST	SPHB +0.63 points	0.19%	0.82%
NewmontNEM	SPHB +0.61 points	0.18%	0.79%
Eaton PLCETN	SPHB +0.61 points	0.18%	0.79%
Goldman Sachs GroupGS	SPHB +0.60 points	0.17%	0.77%
Amazon.com IncAMZN	SPHB +0.60 points	0.15%	0.75%
Ares Management Class AARES	SPHB +0.59 points	0.20%	0.79%
Cummins IncCMI	SPHB +0.58 points	0.14%	0.72%
Caterpillar IncCAT	SPHB +0.57 points	0.12%	0.69%
Alphabet Class CGOOG	SPHB +0.55 points	0.05%	0.60%
Constellation Energy CorpCEG	SPHB +0.54 points	0.18%	0.72%
Nrg Energy IncNRG	SPHB +0.51 points	0.15%	0.66%
Kkr and Co IncKKR	SPHB +0.50 points	0.18%	0.68%
First SolarFSLR	SPHB +0.49 points	0.15%	0.64%
CitigroupC	SPHB +0.49 points	0.18%	0.67%
Morgan StanleyMS	SPHB +0.49 points	0.17%	0.66%
Crh Public Limited PLCCRH	SPHB +0.48 points	0.17%	0.65%
Capital One Financial CorpCOF	SPHB +0.48 points	0.20%	0.68%
Ingersoll RandIR	SPHB +0.46 points	0.22%	0.68%
Lennox InternationalLII	SPHB +0.45 points	0.14%	0.59%
Netapp IncNTAP	SPHB +0.45 points	0.31%	0.76%
Doordash Class ADASH	SPHB +0.44 points	0.21%	0.65%
Smurfit Westrock PLCSW	SPHB +0.42 points	0.23%	0.65%
TapestryTPR	SPHB +0.39 points	0.17%	0.56%
BlackstoneBX	SPHB +0.39 points	0.19%	0.58%

All 515 SIZE holdings⁠All 99 SPHB holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

SIZE vs SPHB Cost

Overpaying SPHB vs SIZE

$2,022

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

SIZE 0.15%
$3,137
SPHB 0.25%
$5,159

Amount$10,000

Years30 years

Cost over time

SIZE 0.15%
SPHB 0.25%
Overpaying

Year by year

Year	SIZE	SPHB	Overpaying
10	$274	$455	$181
20	$1,071	$1,769	$698
30	$3,137	$5,159	$2,022

Expense ratio

0.15%SIZE, cheaper
0.25%SPHB

SIZE0.15%SPHB0.25%

0.05%0.63%

Middle half of US Factor Index funds
Median 0.30%

SIZE 5th cheapest of 30 funds

SPHB 10th cheapest of 30 funds

SIZE vs SPHB Dividends

Last 12 months to Oct 30, 2026

Yield (12M): SIZE 1.37%, better; SPHB 0.55%
Payout (12M): SIZE $2.47; SPHB $0.76
Last payment: SIZE $0.65; SPHB $0.14
Ex-dividend: SIZE Sep 15, 2026; SPHB Sep 21, 2026
Paid on: SIZE Sep 18, 2026; SPHB Sep 25, 2026
Frequency: SIZE Quarterly; SPHB Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

SIZEQuarterly · 41 paymentsAll SIZE payments⁠

SPHBQuarterly · 39 paymentsAll SPHB payments⁠

SIZE vs SPHB Risk

Fall from peak · 5 years

SIZE
SPHB

Risk facts

VolatilityStd dev, 3 years: SIZE 13.0%, betterSPHB 22.6%
Return per unit of riskSharpe ratio, 3 years: SIZE 1.06SPHB 1.08, better
Worst fallMax drawdown, 5 years: SIZE −24.0%, betterSPHB −31.5%
Market sensitivityBeta, 5 years: SIZE 0.97SPHB 1.44; Market = 1

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