DVY vs HDV ETF comparison
DVY vs HDV
DVY tracks the Dow Jones U.S. Select Dividend Index and holds about 98 high-yielding U.S. stocks, with financials and utilities as its largest sectors, at the highest fee in this group, and HDV tracks the Morningstar Dividend Yield Focus Index and holds about 75 financially healthy high-yield stocks, with energy and consumer staples making up about half.
Both funds are built around high dividend yield stocks and track an index, so they sit close in purpose. They differ in how the index picks and weights stocks, how much they cost and how concentrated they are. DVY charges 0.38% and HDV charges 0.08%. This page lines up what each fund owns, how the two overlap, what each costs, how each has performed against its index and how each trades, with the date next to every number.
DVY vs HDV, the short answer
DVY and HDV are both U.S. dividend ETFs that track an index and pay distributions quarterly. Both funds are built around high dividend yield stocks and track an index, so they sit close in purpose. They differ in how the index picks and weights stocks, how much they cost and how concentrated they are. Expense ratios are 0.38% and 0.08%, which is $38 and $8 a year per $10,000.
NAV total returns, annualized (both to Sep 30, 2026): 1 year 10.80% vs 17.86%; 3 years 16.35% vs 16.06%; 5 years 9.68% vs 12.10%. Their top ten holdings overlap by 4.0% and their sector weights overlap by about 60%. Neither is better for everyone; the choice turns on cost, yield, concentration and which sectors you want to own.
Want the full picture of one fund before you compare? Read the complete guide for each fund: DVY guide and HDV guide. Each guide covers fees, holdings, yield, returns and taxes.
DVY vs HDV overlap, if you own both
DVY · ten largest holdings
As of Nov 9, 2026- 1Pfizer PFE2.36%Only here
- 2Altria Group Inc. MO2.33%Both
- 3Prudential Financial Inc. PRU2.24%Only here
- 4HP Inc. HPQ2.13%Only here
- 5T. Rowe Price Group TROW2.12%Only here
- 6Target Corp TGT1.75%Only here
- 7Verizon Communications Inc. VZ1.72%Both
- 8ONEOK OKE1.68%Only here
- 9Kimberly Clark KMB1.65%Only here
- 10Best Buy BBY1.64%Only here
Ten largest total 19.6%
HDV · ten largest holdings
As of Sep 30, 2026- 1Exxon Mobil XOM9.28%Only here
- 2Chevron CVX7.00%Only here
- 3AbbVie ABBV6.70%Only here
- 4Verizon VZ5.78%Both
- 5Procter & Gamble PG5.40%Only here
- 6Philip Morris PM5.14%Only here
- 7Home Depot HD4.42%Only here
- 8Coca-Cola KO4.35%Only here
- 9PepsiCo PEP4.00%Only here
- 10Altria MO3.72%Both
Ten largest total 55.8%
Shared by both · 2 companies
| Company | DVY weight | HDV weight | Gap |
|---|---|---|---|
| Altria Group Inc. MO | 2.33% | 3.72% | -1.39 pts |
| Verizon Communications Inc. VZ | 1.72% | 5.78% | -4.06 pts |
Only in DVY’s top ten: Pfizer, Prudential Financial Inc., HP Inc., T. Rowe Price Group, Target Corp, ONEOK, Kimberly Clark, Best Buy. Only in HDV’s top ten: Exxon Mobil, Chevron, AbbVie, Procter & Gamble, Philip Morris, Home Depot, Coca-Cola, PepsiCo.
The twist
2 of the ten largest holdings are shared, and the overlap is 4.0% by the smaller-weight method. Sector weights overlap by about 60%, so the portfolios can still look alike beyond the top ten.
DVY vs HDV, one goal, which fund?
DVY vs HDV, where the money goes
DVY · iShares Select Dividend ETF
HDV · iShares Core High Dividend ETF
DVY vs HDV returns compared over 1, 3 and 5 years
DVY vs HDV, what each fund costs a year
The data room
Every figure behind the DVY vs HDV cards above, with its source, date and evidence grade. Open the issuer documents before relying on any number.
DVY vs HDV key facts
Evidence grade: Issuer issuer page · Mixed issuer plus provider · 3rd party| Metric | DVY | HDV | Grade and source |
|---|
Portfolio characteristics
| Metric | DVY | HDV | Grade and source |
|---|
Net assets are dated Nov 10, 2026 for DVY and Nov 6, 2026 for HDV (DVY $23.68B; HDV $16.18B). Figures an issuer page does not show are left out or marked Not captured, not estimated.
DVY vs HDV holdings, how each fund is built
Issuer pages · Sep 30 to Nov 10, 2026| Item | DVY | HDV |
|---|---|---|
| Strategy | Tracks the Dow Jones U.S. Select Dividend Index, relatively high dividend yielding U.S. stocks | Tracks the Morningstar Dividend Yield Focus Index, about 75 U.S. stocks screened for financial health and dividend yield |
| Number of holdings | 98 (Nov 9, 2026) | 73 (Sep 30, 2026) |
| Top ten share of fund | 19.6% | 55.8% |
| Reference index | Dow Jones U.S. Select Dividend Index | Morningstar Dividend Yield Focus Index |
| Exchange | NASDAQ | NYSE Arca |
| Launched | Nov 3, 2003 | Mar 29, 2011 |
Gaps are marked Not captured. Number of holdings and top-ten weights carry the date shown, which differs by issuer.
DVY vs HDV against their indexes, tracking and cost
NAV total return vs index, to Sep 30, 2026| Fund and period | Fund NAV | Index | Index return | Fund minus index, pts |
|---|---|---|---|---|
| DVY · 1 year | 10.80% | Dow Jones U.S. Select Dividend Index | 11.24% | -0.44 |
| DVY · 3 years | 16.35% | Dow Jones U.S. Select Dividend Index | 16.79% | -0.44 |
| DVY · 5 years | 9.68% | Dow Jones U.S. Select Dividend Index | 10.11% | -0.43 |
| HDV · 1 year | 17.86% | Morningstar Dividend Yield Focus Index | 17.98% | -0.12 |
| HDV · 3 years | 16.06% | Morningstar Dividend Yield Focus Index | 16.18% | -0.12 |
| HDV · 5 years | 12.10% | Morningstar Dividend Yield Focus Index | 12.20% | -0.10 |
What you actually own
DVY vs HDV performance
Matched dates, to Sep 30, 2026All rows come from the issuer pages and are dated Sep 30, 2026 for both funds, so they compare like for like. NAV returns include fees. “Since inception” starts in different years (DVY 2003, HDV 2011). Past performance does not guarantee future results.
Growth of a hypothetical $10,000 · NAV total return, to Sep 30, 2026
Derived from issuer NAV total returns (compounded). Fund expenses are already in NAV. Illustration, not a forecast.
DVY vs HDV yield, dividends and dividend growth
Yield and distribution facts| Measure | DVY | HDV |
|---|---|---|
| 30-day SEC yield | 3.66% (Sep 30, 2026) | 3.51% (Sep 30, 2026) |
| Trailing yield | 3.51% (Sep 30, 2026) | 3.05% (Sep 30, 2026) |
| Distributions | Quarterly | Quarterly |
| Fee per $10,000 a year | $38 | $8 |
The yield figures are not directly comparable by date or definition. DVY shows a 30-day SEC yield of 3.66% (Sep 30, 2026) and a trailing yield of 3.51% (Sep 30, 2026); HDV shows 3.51% (Sep 30, 2026) and 3.05% (Sep 30, 2026). A trailing yield looks back at what the fund paid, while the SEC yield is a standard formula based on the latest 30 days.
A high yield is not the same as a high return: compare it with the NAV total return. See what is dividend yield, yield vs total return and high dividend yield.
DVY vs HDV trading and liquidity
Issuer fund pages · Nov 2 to Nov 10, 2026DVY trades on NASDAQ and HDV on NYSE Arca. Spreads on the issuer pages were 0.03% for DVY and 0.03% for HDV, and a spread of 0.02% is about $20 between the buy and sell price on $100,000. Larger funds usually trade with tighter spreads, which matters more for frequent traders than for long-term holders. Use limit orders for large trades and avoid the first and last minutes of the session. See creation, redemption and trading for how NAV, premiums and spreads arise.
DVY vs HDV expense ratio and fees in dollars
As stated by each issuer| Balance | DVY (0.38%) | HDV (0.08%) | Gap per year |
|---|---|---|---|
| $10,000 | $38 | $8 | $30 |
| $50,000 | $190 | $40 | $150 |
| $100,000 | $380 | $80 | $300 |
The expense ratio is taken from fund assets, not billed to you. Fees exclude the bid/ask spread, any premium or discount to NAV, brokerage commissions and taxes.
DVY vs HDV, what each trust holds and how it is valued
Structure, in plain languageDVY · Dow Jones U.S. Select Dividend Index
DVY Tracks the Dow Jones U.S. Select Dividend Index, relatively high dividend yielding U.S. stocks. It was launched in Nov 3, 2003 and charges 0.38%. Index rules, risks and tax treatment are described in the prospectus and on the issuer page.
HDV · Morningstar Dividend Yield Focus Index
HDV Tracks the Morningstar Dividend Yield Focus Index, about 75 U.S. stocks screened for financial health and dividend yield. It was launched in Mar 29, 2011 and charges 0.08%. Index rules, risks and tax treatment are described in the prospectus and on the issuer page.
Custody, valuation and fee terms sit in each prospectus; read them before relying on this summary.
DVY vs HDV, why yield and returns differ
The fee explains most of the gapBoth funds are built around high dividend yield stocks and track an index, so they sit close in purpose. They differ in how the index picks and weights stocks, how much they cost and how concentrated they are.
Dividend ETFs differ mainly in how the index picks stocks: by current yield, by dividend quality or by dividend growth. That choice drives the sector mix and the yield you receive, which is why the sector weights and the comparison with each fund’s own index matter more than any single yield figure.
How to decide between DVY and HDV
A step-by-step frameworkStart with what separates them: Both funds are built around high dividend yield stocks and track an index, so they sit close in purpose. They differ in how the index picks and weights stocks, how much they cost and how concentrated they are.
- Step 1 · Market: DVY follows high dividend yield and HDV follows high dividend yield, so decide which exposure you want to own.
- Step 2 · Cost: DVY 0.38% vs HDV 0.08%, or $38 vs $8 a year per $10,000.
- Step 3 · Yield and total return: compare the trailing yield with the NAV return, not the yield alone.
- Step 4 · What you own: check whether you already hold these stocks through another fund with the Diversification Calculator.
Size the position against your whole portfolio. Dividend funds can lag growth-led rallies and still fall in selloffs, so they usually play a defined role.
DVY vs HDV for Canadian investors
Currency and account typeDVY and HDV are U.S.-listed and trade in U.S. dollars, so buying them from a Canadian account usually involves converting Canadian dollars, which adds a cost on entry and exit. 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. Confirm the rules for your account with a tax professional. This is general education, not tax advice.
Risks of DVY and HDV
What can go wrongShared risks
- Both funds hold stocks, so they can fall with the market and have fallen sharply in past selloffs.
- Dividends are not guaranteed and companies can cut what they pay.
- A high yield can signal that a stock has fallen or that a dividend is at risk, so yield alone does not show quality.
- Sector concentration can make a dividend fund move differently from the broad market.
Fund-specific risks
- DVY: Tracks the Dow Jones U.S. Select Dividend Index, relatively high dividend yielding U.S. stocks.
- HDV: Tracks the Morningstar Dividend Yield Focus Index, about 75 U.S. stocks screened for financial health and dividend yield.
- DVY: expense ratio 0.38%, net assets $23.68B. HDV: expense ratio 0.08%, net assets $16.18B.
- Both: see each prospectus for index methodology, concentration and tax disclosures.
DVY vs HDV taxes and account placement
General education, not tax adviceDistributions from dividend funds can include qualified dividends, ordinary dividends and sometimes return of capital, and the mix changes from year to year. Whether a dividend is qualified depends on the stock and on how long you held the fund shares. Each issuer publishes a tax breakdown after year end, which is the figure to use.
For Canadian account types, see the Canadian section above. Confirm the rules for your account with a tax professional, and read how to build an ETF portfolio. This is general education, not tax advice.
Other ETFs people compare
For context, not recommendationsInvestors comparing DVY and HDV often also look at the other funds in this group: DVY, SPYD, SCHD, VYM, HDV and VIG. See the high-yield dividend ETF comparisons, the dividend ETFs and the ETF research hub.
DVY vs HDV drawdown arithmetic
What a decline means in dollarsRecovery gain = decline ÷ (1 − decline). The scenarios use illustrative declines of 10%, 20% and 30% so you can see what a drop does to each fund. Dividend funds hold stocks, so they can fall alongside the market. They are not a worst-case figure. See the Position Size Calculator.
Tools to compare DVY vs HDV
Static weights from this pageIgnores taxes, spreads and holdings differences. ETF Fee Calculator.
Check shared exposure with the Diversification Calculator.
DVY vs HDV, which fits which job
Characteristics, not recommendationsDVY may suit investors who want…
High current yield from a screened U.S. dividend index, at a higher fee.
Strengths
- Larger fund: $23.68B against $16.18B
- Quarterly dividend income
- Exchange-traded and priced all day
Watch points
- Higher fee: 0.38% against 0.08%
- Led in 1 of 3 return windows (to Sep 30, 2026)
- Can fall with the market
- Dividends can change
HDV may suit investors who want…
A concentrated high-yield fund screened for financial health.
Strengths
- Lower fee: 0.08% against 0.38%
- Led in 2 of 3 return windows (to Sep 30, 2026)
- Quarterly dividend income
- Exchange-traded and priced all day
Watch points
- Smaller fund: $16.18B against $23.68B
- Can fall with the market
- Dividends can change
DVY vs HDV investor scenarios
Characteristics that fit, not recommendationsDVY vs HDV key terms
Plain-language definitions
DVY vs HDV, frequently asked questions
Answers use the figures and dates shown aboveIs DVY or HDV better?
In the DVY vs HDV question, neither is better for everyone. DVY and HDV are both U.S. dividend ETFs that track an index and pay distributions quarterly. Both funds are built around high dividend yield stocks and track an index, so they sit close in purpose. They differ in how the index picks and weights stocks, how much they cost and how concentrated they are.
Expense ratios are 0.38% and 0.08%, which is $38 and $8 a year per $10,000. NAV total returns, annualized (both to Sep 30, 2026): 1 year 10.80% vs 17.86%; 3 years 16.35% vs 16.06%; 5 years 9.68% vs 12.10%. Their top ten holdings overlap by 4.0% and their sector weights overlap by about 60%. Neither is better for everyone; the choice turns on cost, yield, concentration and which sectors you want to own.
DVY vs HDV, what are the expense ratios?
DVY charges 0.38% and HDV charges 0.08%, which is $38 and $8 a year per $10,000.
DVY vs HDV, how much do the funds overlap?
On DVY vs HDV, the top ten holdings overlap by 4.0% on the issuer data, with 2 shared names. This counts only the ten largest holdings of each fund, so the full portfolio overlap may differ.
DVY vs HDV, what does each ETF hold?
DVY Tracks the Dow Jones U.S. Select Dividend Index, relatively high dividend yielding U.S. stocks. HDV Tracks the Morningstar Dividend Yield Focus Index, about 75 U.S. stocks screened for financial health and dividend yield.
DVY vs HDV, which has performed better?
NAV total returns, annualized (both to Sep 30, 2026): 1 year 10.80% vs 17.86%; 3 years 16.35% vs 16.06%; 5 years 9.68% vs 12.10%. Past performance does not guarantee future results.
DVY vs HDV, which pays more income?
DVY reports 3.51% (Sep 30, 2026) and HDV reports 3.05% (Sep 30, 2026). The measures are defined differently, so compare them with the NAV return before choosing.
DVY vs HDV, can I own both?
On DVY vs HDV, you can. Both hold U.S. dividend stocks, so owning both adds a second fee, and shared holdings repeat the same stocks (top-10 overlap 4.0%, sector overlap about 60%).
DVY vs HDV, do the funds pay dividends?
On DVY vs HDV, both pay distributions quarterly, funded by the dividends of the stocks they hold. The amount changes when companies change what they pay.
DVY vs HDV, how are distributions taxed?
On DVY vs HDV, distributions can include ordinary income, dividends, capital gains and return of capital, and the mix changes each year. Each issuer publishes a year-end tax breakdown. Confirm with a tax professional. This is general education, not tax advice.
DVY vs HDV, are they suitable for Canadian investors?
On DVY vs HDV, both are U.S.-listed and trade in U.S. dollars, so Canadians face currency conversion costs, and withholding tax on distributions depends on the account. Confirm with a tax professional. This is general education, not tax advice.
DVY vs HDV documents and sources
Open the issuer documents before relying on any figureDVY · BlackRock (iShares)
HDV · BlackRock (iShares)
Third-party sources
BlackRock (iShares) DVY fund page · BlackRock (iShares) HDV fund page.
Methodology and limits
- DVY figures come from the BlackRock (iShares) fund page and HDV figures from the BlackRock (iShares) fund page.
- Dates are shown beside each figure; the issuer documents are linked below.
- Overlap is the sum of the smaller weight of each shared holding among the ten largest holdings published for each fund.
- Comparison index returns come from the issuer page; funds without one on the page are left out of the table.
- Figures an issuer page does not show are marked Not captured, and nothing was filled from memory or from another fund.
- Returns are dated Sep 30, 2026 for both funds on this page. Growth of $10,000 is derived from annualized NAV total returns; dollar values are approximate.
Educational research, not personalized investment, tax or legal advice, and not a recommendation to buy or sell any fund. Investing involves risk, including loss of principal. Past performance does not guarantee future results. Calculators are hypothetical illustrations. Fund data are provided as published by the sources named and may differ from current figures.