SPLV vs SPHB - Low Vol vs High Beta

The attached chart highlights the S&P 500 Low Volatility ETF Relative To the S&P 500 High Beta ETF where we note the ratio/price emerging from a 12-month base formation following a downward trend that was in place from the March 2020 lows.

Why is this chart important? The ratio helps investors identify a leading factor/style which influences sector/style allocation. In this case, lower volatility shares are looking to outpace high beta shares.

The top 3 names in the low volatility ETF includes:

Johnson & Johnson
Hershey Co
The Coca Cola Co.