High-Yield Dividend ETFs

• Index funds. All six track an index and hold U.S. dividend stocks, and all pay quarterly.
• Cost range. Expense ratios run from 0.04% to 0.38%, which is $340 a year on $100,000.
• Three styles. DVY, SPYD, VYM and HDV screen for yield, SCHD for quality and VIG for dividend growth.
• Yield differs a lot. Trailing yields run from 1.49% for VIG to 4.12% for SPYD.
• Sectors differ most. SPYD is about 25% real estate, DVY about 48% financials and utilities, and VIG is the most technology-heavy.
• Tax is mixed. Distributions can include qualified dividends, ordinary dividends and return of capital.

Figures come from each issuer page, with the date beside each number. Net assets, yields and holdings are dated differently by each issuer, and VYM net assets come from a third-party page dated Nov 2. Trailing yields and SEC yields use different definitions, so read them as a range rather than a ranking.

All six funds track an index, but the indexes answer different questions. DVY, SPYD, VYM and HDV start from yield: they pick stocks that pay high dividends compared with their price. SCHD starts from quality: it selects companies by the strength of their finances and dividend record and leaves out the very highest yields. VIG starts from growth: it holds companies that have raised dividends for years, which usually means a lower starting yield.

The method shapes the portfolio. A pure yield screen tends to pick up sectors that pay out most of their earnings, such as utilities, real estate, financials, energy and consumer staples. That is why SPYD holds about 25% in real estate, DVY about 48% in financials and utilities together, and HDV about half in consumer staples and energy. VIG holds far more technology and health care, which is why its yield is the lowest.

A high yield can also mean a falling share price or a dividend at risk. The yield on this page is a description of what a fund pays, not a promise of future income, and it does not show total return.

When each style fits: a yield screen suits someone who wants more cash flow now and accepts a narrower mix, a quality screen suits someone who wants income with stronger financials, and a growth screen suits someone who prefers rising dividends over a high starting yield. These describe the funds, not what to buy.

Source: issuer pages. Dates are Nov 10 for DVY (Nov 9 sector data) and SPYD, Nov 5 for SCHD, Nov 6 for HDV and Sep 30 for VYM and VIG. Sector names differ slightly between providers, and a sector missing from a fund page is shown as 0.0%.

The sector table is where these funds differ most. SPYD holds 25.0% in real estate against 0.0% for SCHD, while SCHD holds 19.2% in health care and 12.2% in technology. VIG holds 26.7% in technology, the most of the six, and VYM spreads across financials, technology and industrials.

Because these are all U.S. stock funds, a sector tilt matters. A fund with a heavy weight in one sector, such as real estate or utilities, can move differently from the broad market when interest rates change. Read asset allocation explained before sizing a position.

All six issuers report standardized returns to Sep 30, 2026, so the table compares like with like. Figures are annualized NAV total returns, net of fees. Since-launch figures start in different years, from 2003 for DVY to 2015 for SPYD, so they are not comparable with each other.

Source: issuer fund pages (iShares, State Street, Schwab and Vanguard). Past performance does not guarantee future results.

Over one year SCHD (23.36%) led the group, followed by VYM (12.72%), HDV (17.86%), DVY (10.80%), VIG (9.77%) and SPYD (7.83%). Over three years HDV, VYM and VIG were within about 2 points of each other while SPYD returned 13.99%. The order changes by period, which is why one window should not drive a decision.

Read how to measure investment growth and nominal vs real values before treating any of these numbers as a forecast.

The issuer pages show trailing yields of 3.51% (Sep 30, 2026) for DVY, 4.12% (Nov 9, 2026) for SPYD, 3.24% (Sep 30, 2026) for SCHD, 2.24% (Nov 2, 2026) for VYM, 3.05% (Sep 30, 2026) for HDV and About 1.49% (Sep 28, 2026) for VIG, each dated differently by its issuer.

The 30-day SEC yield follows a standard formula and showed 4.26% for SPYD, 3.66% for DVY, 3.51% for HDV, 3.12% for SCHD and 1.43% for VIG. The VYM page used here did not show one. SPYD and DVY sit at the top of the group on both measures, and VIG is far below the rest because it holds dividend growers rather than high payers.

A higher yield buys more income now, but it can come with a narrower mix and more risk of dividend cuts. Compare the yield with the NAV total return before judging a fund. See what is dividend yield, yield vs total return and high dividend yield.

Top-ten overlap sums the smaller weight of each holding that appears in both funds’ ten largest positions. It is a narrow measure, and it shows low numbers here because dividend funds hold different stocks at the top. Sector overlap sums the smaller weight of each sector in both funds, which shows how alike two portfolios are beyond the top ten.

The highest top-ten overlap is 21.0% for SCHD and HDV, and most pairs share little or nothing among their ten largest positions. By sector the most similar pair is VIG and VYM at 81%, and the least similar is VIG and HDV at 42%.

Each page below puts two funds side by side on cost, what each owns, overlap, yield, returns against each index, trading and taxes. Every figure carries its date, and the data room at the bottom of each page lists the source and grade of each number. The first nine pairs are new on this page; the last six were published earlier in the Dividend category.

• 1. Index method Decide whether you want a yield screen, a quality screen or a growth screen, because that drives sectors and yield.
• 2. Cost Expense ratios run from 0.04% to 0.38% here, and a higher fee comes out of the same dividends.
• 3. Total return Compare NAV total return with the fund’s own index, not only the yield.
• 4. Yield definition Check the date and definition behind a yield figure, and compare the SEC yield with the trailing yield.
• 5. Sector mix Check the largest sectors, because a heavy weight in one sector changes how the fund behaves.
• 6. Overlap Check shared holdings and sector overlap before owning two of these, or one alongside a stock index fund.
• 7. Dates and sources Compare figures only when the dates match, as the returns do on this page.

Start with how to research an ETF if the terms are new, and size any income position inside your whole allocation with asset allocation explained.

On a $100,000 balance, 0.04% is $40 a year, 0.07% is $70 and 0.38% is $380. DVY costs about nine times as much as VYM or VIG, so the fee gap matters more here than in most index fund pairs. Use the ETF Fee Calculator to turn a fee gap into dollars over time.

Trading costs come from the bid/ask spread and from any premium or discount to NAV. The issuer pages showed 30-day median spreads of 0.01%% to 0.03%% where reported (VIG 0.01%%, SPYD 0.02%%, SCHD, DVY and HDV 0.03%%; the VYM page used here did not show one). Use limit orders for larger amounts.

Someone who trades often may value the deepest market more than the lowest fee, while a long-term holder usually gains more from the lower fee. Both are reasonable positions.

You want dividend exposure at the lowest fee: VYM and VIG at 0.04%, or SCHD at 0.06%. See SCHD vs VYM and VIG vs VYM.

You want the highest current yield: SPYD and DVY sit at the top of the group. Read DVY vs SPYD and note the fee gap of 0.31 points.

You prefer dividend quality: SCHD screens for it. See DVY vs SCHD and SPYD vs SCHD.

You prefer rising dividends over a high yield: VIG holds dividend growers. See DVY vs VIG and SPYD vs VIG.

You already own stock index funds: these funds repeat many of the same large companies, so check shared holdings with the Diversification Calculator and size any position against your whole portfolio.

Chasing the highest yield. A high yield can mean a falling price or a dividend at risk, and the highest-yielding fund is not always the best total return.

Comparing yields from different dates. The issuers report yields on different dates and definitions, so check them before ranking.

Ignoring sector concentration. A fund with 25% in one sector behaves differently from the broad market.

Owning two funds that overlap. Two yield funds can lean on the same sectors and add a second fee.

Ignoring the fee gap. DVY costs 0.38% against 0.04% for VYM, which is $340 a year more on $100,000.

Judging on one year. Dividend funds lead in some years and lag in others, and the order changes by period.

Interest rates also matter. Rate-sensitive sectors such as utilities and real estate can move sharply when rates change. Read each prospectus for the index method, the concentration risks and the tax treatment before buying.

U.S.-listed funds such as DVY, SPYD, SCHD, VYM, HDV and VIG trade in U.S. dollars. Buying them from a Canadian account usually involves converting Canadian dollars, which adds a cost, and a move in the U.S. dollar also changes your return in Canadian dollars.

Quarterly distributions from U.S. funds can face U.S. withholding tax depending on the account type, and the split between income types varies from year to year. How dividends and gains are taxed depends on the account and your own situation.

Confirm the rules for your accounts with a qualified tax professional, and see how to build an ETF portfolio for how a dividend position fits inside an allocation.

Figures come from the issuer pages for each fund: iShares for DVY and HDV, State Street for SPYD, Schwab for SCHD and Vanguard for VYM and VIG. Fund facts are dated Nov 2 to Nov 10, 2026 and returns Sep 30, 2026. VYM net assets and trailing yield come from a third-party page dated Nov 2. Gaps are shown as Not captured, and nothing was filled from memory or from another fund.

Top-ten overlap is the sum of the smaller weight of each shared holding among the ten largest holdings published for each fund. Sector overlap is the sum of the smaller sector weight in each fund. The pages are educational research, not personal advice, and they do not recommend any fund.

Pathways, not rankings or recommendations.