XSHD
Invesco S&P SmallCap High Dividend Low Volatility ETF
The Invesco S&P SmallCap High Dividend Low Volatility ETF tracks a dividend-yield-weighted index of the 60 least volatile stocks chosen from a list of the 90 highest-yielding US small-cap stocks.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
69.9 M
ASSETS UNDER MGMT
30 bp
EXPENSES
Fund Basics
| Fund sponsor | Invesco |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Dec 01, 2016 |
| Assets (mns) | $70 |
| Expense ratio | 30 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Monthly |
| Taxation | 1099 |
| Stock selection | Multi-Factor |
| Weighting | Dividend |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| GLOBAL NET LEASE INC | 3.6 % |
| INNOVATIVE INDUSTRIAL PROPERTIES INC | 3.2 % |
| ARMADA HOFFLER PROPERTIES IN | 3.0 % |
| EASTERLY GOVERNMENT PROPERTIES INC | 3.0 % |
| BRANDYWINE REALTY TRUST | 2.9 % |
| TWO HARBORS INVESTMENT CORP | 2.9 % |
| ARBOR REALTY TRUST INC | 2.9 % |
| DELUXE CORP | 2.9 % |
| ARMOUR RESIDENTIAL REIT INC | 2.8 % |
| READY CAPITAL CORPORATION | 2.6 % |
Constituent Breakdown
| Number of holdings | 56 |
| Herfindahl-Hirschman Index | 209 |
| Wgt avg mkt cap (mns) | $1,409 |
| Large cap (>$10bn) | 20.3% |
| Mid cap ($2-10bn) | 70.6% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 90.9% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 90.9 % |
Historical Performance
Standardized Performance (as of 11/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -11.5% | -17.6% | -7.3% | -11.5% | -7.1% | -- | -- | -7.0% |
| Dividend Yield | 5.1% | 5.3% | 6.4% | 6.4% | 5.9% | -- | -- | 5.5% |
| Total Returns | -6.3% | -12.3% | -1.0% | -5.1% | -1.2% | -- | -- | -1.5% | Ann. Volatility | 18.4% | 18.2% | 18.2% | 18.8% | 19.5% | -- | -- | 22.8% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.64 | 48% |
| MSCI EAFE | 0.74 | 46% |
| MSCI Emg Mkts | 0.59 | 34% |
Liquidity Measures
| Avg. volume (000) | 42 |
| ADV traded (mns) | $1 |
| Turnover | 0.8% |
| Avg. Bid/Ask (% of price) | 0.11% |
Technical Indicators
| 30d moving avg. (EMA) | $12.75 |
| Relative strength (RSI) | 49 |
| MACD/Signal | -0.06/-0.12 |
| Bollinger Bands (Upper/Lower) | $12.97/$12.27 |
| Short interest (% of AUM) | 0.1% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. XSHD |
Expenses vs. XSHD |
ALTAR Score™ vs. XSHD |
|---|---|---|---|---|
| XSLV | Invesco S&P SmallCap Low Volatility ETF | 20.5% | -5 bp | +8.6% |
| REM | iShares Mortgage Real Estate ETF | 17.2% | +18 bp | +22.4% |
| CSB | VictoryShares US Small Cap High Dividend Volatility Wtd ETF | 17.1% | +5 bp | +9.2% |
| RIET | Hoya Capital High Dividend Yield ETF | 17.0% | +20 bp | +17.6% |
| PSCU | Invesco S&P SmallCap Utilities & Communication Services ETF | 15.4% | -1 bp | +4.4% |
| MORT | VanEck Mortgage REIT Income ETF | 14.9% | +13 bp | +20.1% |
| XSVM | Invesco S&P SmallCap Value with Momentum ETF | 14.7% | +6 bp | +10.5% |
| SMDV | ProShares Russell 2000 Dividend Growers ETF | 14.1% | +10 bp | +7.6% |
| KBWY | Invesco KBW Premium Yield Equity REIT ETF | 13.2% | +5 bp | +6.5% |
| RDOG | ALPS REIT Dividend Dogs ETF | 12.2% | +5 bp | +10.9% |
Risk and Returns: XSHD vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 12/5/2025
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
ALTAR Score™
XSHD
17.3%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 1021 funds in the US Equity category, with an average ALTAR Score™
of 5.6% and a standard deviation of
2.3%. XSHD's ALTAR Score™ is approximately
5.0 standard deviations
above
the category average. This places XSHD in the 99th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
XSHDSELL
U/W
HOLD
O/W
BUY