Overview
The 100 highest-quality companies in the S&P 500, ranked by return on equity, accruals and financial leverage — balance-sheet strength as a strategy.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| NVDA | NVIDIA Corp. | 9.4% |
| AAPL | Apple Inc. | 8.7% |
| MSFT | Microsoft Corp. | 8.2% |
| META | Meta Platforms | 4.9% |
| AVGO | Broadcom Inc. | 4.6% |
| LLY | Eli Lilly & Co. | 2.9% |
| V | Visa Inc. | 2.8% |
| MA | Mastercard Inc. | 2.6% |
| COST | Costco Wholesale | 2.4% |
| JNJ | Johnson & Johnson | 2.1% |
Fund Details
Investment Thesis
Quality is the factor that has worked most consistently across market regimes: companies with high returns on equity, clean accounting and low leverage compound through cycles and fall less in drawdowns. SPHQ applies the screen inside the S&P 500 at just 0.15% — cheaper than most smart-beta rivals — and its long-run record has quietly beaten the parent index. Today that means a heavy tilt to the mega-cap profit machines.
Who It's For
Core-equity investors who want a defensive tilt without giving up upside — the fund holds the market's strongest balance sheets, not its cheapest stocks. A natural S&P 500 substitute for late-cycle nerves.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $22.17 | -- |
| 2017 | $26.61 | +20.0% |
| 2018 | $25.01 | -6.0% |
| 2019 | $33.01 | +32.0% |
| 2020 | $37.97 | +15.0% |
| 2021 | $48.22 | +27.0% |
| 2022 | $40.50 | -16.0% |
| 2023 | $51.84 | +28.0% |
| 2024 | $63.25 | +22.0% |
| 2025 | $74.00 | +17.0% |
| Year | Yield |
|---|---|
| 2016 | 1.70% |
| 2017 | 1.60% |
| 2018 | 1.90% |
| 2019 | 1.70% |
| 2020 | 1.50% |
| 2021 | 1.20% |
| 2022 | 1.60% |
| 2023 | 1.40% |
| 2024 | 1.20% |
| 2025 | 1.10% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $1B | -- |
| 2017 | $1.3B | +30.0% |
| 2018 | $1.2B | -7.7% |
| 2019 | $1.8B | +50.0% |
| 2020 | $2.4B | +33.3% |
| 2021 | $3.6B | +50.0% |
| 2022 | $3.8B | +5.6% |
| 2023 | $7B | +84.2% |
| 2024 | $11B | +57.1% |
| 2025 | $14B | +27.3% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
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