SPHD tracks the S&P 500 Low Volatility High Dividend Index, which holds 75 stocks from the S&P 500 selected for high dividend yield and low trailing volatility, weighted by yield. Real estate, utilities, consumer staples, energy and financials make up much of the portfolio, and technology has a small weight. The fund pays distributions monthly. The portfolio is rebalanced and reconstituted periodically, and a focus on yield can lead to concentration in sectors that are sensitive to interest rates.
