SIZE vs SPHD: Grades, Fees and Holdings Compared

iShares MSCI USA Size Factor ETF

SIZEANYSE Arca

Invesco S&P 500 High Dividend Low Volatility ETF

SPHD—NYSE Arca

Overlap

7.5%by weight

Expense ratio

SIZE −0.15pt a year

SIZE0.15%SPHD0.30%

Avg volume · 30D

SPHD 180.5×the volume

SIZE5.21KSPHD940K

10Y return · a year

SIZE +4.2pt

SIZE+12.2%SPHD+8.0%

SIZE vs SPHD Performance

Nov 2, 2021 – Nov 2, 2026

+43.0%SIZE+48.4%SPHD

Expense ratio: SIZE 0.15%, better; SPHD 0.30%
Fund size: SIZE $433M; SPHD $3.42B
1Y total return: SIZE +14.4%; SPHD +16.3%, better
Yield (12M): SIZE 1.36%; SPHD 4.75%, better
Holdings: SIZE 518; SPHD 56
Avg volume (30D): SIZE 5.21K sh; SPHD 940K sh, better
NAV per share: SIZE $180.22; SPHD $52.01
52W range

ETF.net Grade

—SPHDUnder classification review

Pillar letters and Scores for SIZE, SPHD, with each pillar’s weight
Pillar	SIZE	SPHD
Cost30% weight	A81	Not scored
Mission25% weight	A93	Not scored
Risk15% weight	B66	Not scored
Tradability15% weight	F23	Not scored
Holdings10% weight	A88	Not scored
Durability5% weight	B57	Not scored

Rank among US Factor Index funds

How we build Categories ›

US Factor Index⁠

Category · 30 funds

See all 30 ›

SIZE ranks 3rd 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
SPHDNot yet graded

Our read on each fund

ETF.net Research

SIZEAiShares MSCI USA Size Factor ETF

SPHD—Invesco S&P 500 High Dividend Low Volatility 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.

SPHD No data

Stated mandate

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

SPHD No data

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

SPHD No data

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.

SPHD No data

Full SIZE profile⁠

Full SPHD profile⁠

SIZE vs SPHD Holdings

How SIZE and SPHD differ

Overlap by weight

7.5%

Shared holdings make up 82.4% of SPHD and 7.5% of SIZE.

Level by level

Holdings40 in both7.5%
Countryby domicile97.7%
Asset classEquity100%

Sector

No Sector split for SPHD.

Country, concentration and asset class

Country by domicile

Country weights in SIZE and SPHD, widest gap first
Country	More in SIZEMore in SPHD	SIZE	SPHD
United States	SPHD +2.3 points	97.7%	100.0%
United Kingdom	SIZE +0.6 points	0.6%	0.0%
Switzerland	SIZE +0.6 points	0.6%	0.0%
Other countries (6)	SIZE +1.1 points	1.1%	0.0%

Concentration

Weight in the 10 largest Holdings

SIZE3.7%
SPHD28.4%

Securities held

SIZE515
SPHD50

Asset class

SIZE: Equity
SPHD: Equity

Holdings

Only in SIZE475
In both40
Only in SPHD10

Only in SIZE

475 securities, 92.3% 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%
Dell Technologies Inc Class C0.32%
Illumina Inc0.32%
Everpure Inc Class A0.32%
Best Buy0.32%
Netapp Inc0.31%
Hewlett Packard Enterprise0.31%
Marathon Petroleum0.31%
Mettler Toledo0.30%
Agilent Technologies Inc0.30%
Iqvia Holdings Inc0.29%
Cdw0.29%
Workday Class A0.29%
Crowdstrike Holdings 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%
Estee Lauder Inc Class A0.27%
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%
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%

Only in SPHD

10 securities, 17.3% of SPHD by weight

Healthpeak Properties Inc2.24%
Clorox Co/The2.19%
Hasbro Inc2.08%
J M Smucker Co/The1.97%
Hormel Foods Corp1.82%
BXP Inc1.80%
Franklin Templeton Inc1.76%
Vivmark Residential1.71%
Pinnacle West Capital Corp1.55%
Invesco Government & Agency Portfolio0.21%

Weight gaps

All 40 Holdings in both funds, largest gap first.

Holding weights in SIZE and SPHD, widest gap first
Holding	More in SIZEMore in SPHD	SIZE	SPHD
PfizerPFE	SPHD +3.56 points	0.21%	3.77%
Verizon Communications IncVZ	SPHD +2.90 points	0.16%	3.06%
Crown Castle IncCCI	SPHD +2.76 points	0.18%	2.94%
Altria Group IncMO	SPHD +2.73 points	0.19%	2.92%
Kraft HeinzKHC	SPHD +2.67 points	0.20%	2.87%
Vici Pptys IncVICI	SPHD +2.66 points	0.16%	2.82%
General Mills IncGIS	SPHD +2.66 points	0.19%	2.85%
Comcast Class ACMCSA	SPHD +2.26 points	0.17%	2.43%
OneokOKE	SPHD +2.15 points	0.19%	2.34%
ChevronCVX	SPHD +2.16 points	0.20%	2.36%
AT&TT	SPHD +2.13 points	0.15%	2.28%
Prudential Financial IncPRU	SPHD +2.08 points	0.21%	2.29%
American Tower ReitAMT	SPHD +2.02 points	0.19%	2.21%
Extra Space Storage ReitEXR	SPHD +1.93 points	0.20%	2.13%
Realty Income ReitO	SPHD +1.93 points	0.17%	2.10%
Kimberly ClarkKMB	SPHD +1.89 points	0.21%	2.10%
PaychexPAYX	SPHD +1.87 points	0.22%	2.09%
Bristol Myers SquibbBMY	SPHD +1.86 points	0.19%	2.05%
PepsicoPEP	SPHD +1.81 points	0.16%	1.97%
Medtronic PLCMDT	SPHD +1.75 points	0.22%	1.97%
Honeywell International IncHON	SPHD +1.71 points	0.09%	1.80%
ConocophillipsCOP	SPHD +1.67 points	0.22%	1.89%
T Rowe Price GroupTROW	SPHD +1.67 points	0.19%	1.86%
Mid America Apartment CommunitiesMAA	SPHD +1.61 points	0.18%	1.79%
Truist FinancialTFC	SPHD +1.61 points	0.19%	1.80%
Eversource EnergyES	SPHD +1.61 points	0.19%	1.80%
Kinder MorganKMI	SPHD +1.58 points	0.18%	1.76%
Dominion EnergyD	SPHD +1.50 points	0.18%	1.68%
Exxonmobil Holdings CorpXOM	SPHD +1.47 points	0.19%	1.66%
Firstenergy CorpFE	SPHD +1.45 points	0.20%	1.65%
Eog ResourcesEOG	SPHD +1.45 points	0.21%	1.66%
Exelon CorpEXC	SPHD +1.40 points	0.19%	1.59%
Edison InternationalEIX	SPHD +1.40 points	0.16%	1.56%
Genuine PartsGPC	SPHD +1.37 points	0.26%	1.63%
Duke Energy CorpDUK	SPHD +1.36 points	0.18%	1.54%
KeycorpKEY	SPHD +1.30 points	0.19%	1.49%
Regions FinancialRF	SPHD +1.29 points	0.20%	1.49%
EvergyEVRG	SPHD +1.25 points	0.20%	1.45%
Huntington Bancshares IncHBAN	SPHD +1.19 points	0.19%	1.38%
Public Service Enterprise GroupPEG	SPHD +1.19 points	0.18%	1.37%

All 515 SIZE holdings⁠All 54 SPHD 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 SPHD Cost

Overpaying SPHD vs SIZE

$3,012

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

SIZE 0.15%
$3,137
SPHD 0.30%
$6,149

Amount$10,000

Years30 years

Cost over time

SIZE 0.15%
SPHD 0.30%
Overpaying

Year by year

Year	SIZE	SPHD	Overpaying
10	$274	$545	$271
20	$1,071	$2,113	$1,042
30	$3,137	$6,149	$3,012

Expense ratio

0.15%SIZE, cheaper
0.30%SPHD

SIZE0.15%SPHD0.30%

0.05%0.63%

Middle half of US Factor Index funds
Median 0.30%

SIZE 5th cheapest of 30 funds

SPHD 15th cheapest of 30 funds

SIZE vs SPHD Dividends

Last 12 months to Nov 2, 2026

Yield (12M): SIZE 1.36%; SPHD 4.75%, better
Payout (12M): SIZE $2.47; SPHD $2.49
Last payment: SIZE $0.65; SPHD $0.20
Ex-dividend: SIZE Sep 15, 2026; SPHD Oct 19, 2026
Paid on: SIZE Sep 18, 2026; SPHD Oct 23, 2026
Frequency: SIZE Quarterly; SPHD Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

SIZEQuarterly · 15 paymentsAll SIZE payments⁠

SPHDMonthly · 46 paymentsAll SPHD payments⁠

SIZE vs SPHD Risk

Fall from peak · 5 years

SIZE
SPHD

Risk facts

VolatilityStd dev, 3 years: SIZE 13.0%, betterSPHD 13.4%
Return per unit of riskSharpe ratio, 3 years: SIZE 1.06, betterSPHD 0.83
Worst fallMax drawdown, 5 years: SIZE −24.0%SPHD −19.5%, better
Market sensitivityBeta, 5 years: SIZE 0.97SPHD 0.47; Market = 1

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