SPYD vs HDV

Portfolio characteristics

Net assets are dated Nov 10, 2026 for SPYD and Nov 6, 2026 for HDV (SPYD $7.79B; HDV $16.18B). Figures an issuer page does not show are left out or marked Not captured, not estimated.

Gaps are marked Not captured. Number of holdings and top-ten weights carry the date shown, which differs by issuer.

What you actually own

All 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 (SPYD 2015, 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.

Both funds trade on NYSE Arca. Spreads on the issuer pages were 0.02% for SPYD 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.

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.

Custody, valuation and fee terms sit in each prospectus; read them before relying on this summary.

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.

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.

Start 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: SPYD follows high dividend yield and HDV follows high dividend yield, so decide which exposure you want to own.
• Step 2 · Cost: SPYD 0.07% vs HDV 0.08%, or $7 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.

SPYD 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.

Distributions 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.

Investors comparing SPYD 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.

Is SPYD or HDV better?

In the SPYD vs HDV question, neither is better for everyone. SPYD 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 0.07% and 0.08%, which is $7 and $8 a year per $10,000. NAV total returns, annualized (both to Sep 30, 2026): 1 year 7.83% vs 17.86%; 3 years 13.99% vs 16.06%; 5 years 7.70% vs 12.10%. Their top ten holdings overlap by 0.0% and their sector weights overlap by about 53%. Neither is better for everyone; the choice turns on cost, yield, concentration and which sectors you want to own.

SPYD vs HDV, what are the expense ratios?

SPYD charges 0.07% and HDV charges 0.08%, which is $7 and $8 a year per $10,000.

SPYD vs HDV, how much do the funds overlap?

On SPYD vs HDV, the top ten holdings overlap by 0.0% on the issuer data, with 0 shared names. This counts only the ten largest holdings of each fund, so the full portfolio overlap may differ.

SPYD vs HDV, what does each ETF hold?

SPYD Tracks the S&P 500 High Dividend Index, the 80 highest dividend-yielding companies in the S&P 500. HDV Tracks the Morningstar Dividend Yield Focus Index, about 75 U.S. stocks screened for financial health and dividend yield.

SPYD vs HDV, which has performed better?

NAV total returns, annualized (both to Sep 30, 2026): 1 year 7.83% vs 17.86%; 3 years 13.99% vs 16.06%; 5 years 7.70% vs 12.10%. Past performance does not guarantee future results.

SPYD vs HDV, which pays more income?

SPYD reports 4.12% (Nov 9, 2026) and HDV reports 3.05% (Sep 30, 2026). The measures are defined differently, so compare them with the NAV return before choosing.

SPYD vs HDV, can I own both?

On SPYD 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 0.0%, sector overlap about 53%).

SPYD vs HDV, do the funds pay dividends?

On SPYD vs HDV, both pay distributions quarterly, funded by the dividends of the stocks they hold. The amount changes when companies change what they pay.

SPYD vs HDV, how are distributions taxed?

On SPYD 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.

SPYD vs HDV, are they suitable for Canadian investors?

On SPYD 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.

Third-party sources

State Street SPYD fund page · BlackRock (iShares) HDV fund page.

Methodology and limits

• SPYD figures come from the State Street 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.

Pathways, not rankings or recommendations.