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ETF Comparison

DVY vs HDV: Two High-Dividend ETFs, Two Very Different Portfolios

Both target high-dividend US stocks, but DVY skews utilities while HDV skews energy and healthcare with a moat screen. Compare yield, fees, and total returns.

Data as of September 28, 2026

DVY

iShares Select Dividend ETF

BlackRock

High Dividend Yield

Price

$151.91

Yield (TTM)

3.46%

DVY dividend calculator →

HDV

iShares Core High Dividend ETF

BlackRock

High Dividend Yield

Price

$134.02

Yield (TTM)

2.92%

HDV dividend calculator →

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Project compounded returns, dividend income, and reinvestment using each ETF's real yield, expense ratio, and distribution frequency.

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Quick Comparison Summary

DVY vs HDV: compare dividend yield (3.5% vs 2.9%), expense ratio (0.38% vs 0.08%), holdings, returns, and our verdict for dividend investors.

Side-by-Side Metrics
MetricDVYHDV
IssuerBlackRockBlackRock
Inception2003-11-032011-03-29
CategoryHigh Dividend YieldHigh Dividend Yield
Price$151.91$134.02
NAV$151.98$134.05
Dividend Yield (TTM)3.46%2.92%
Expense Ratio0.38%0.08%
Distribution FrequencyQuarterlyQuarterly
AUM$22.4B$13.3B
Total Returns

3Y and 5Y figures are annualized. A 0% value indicates the fund had not been listed for the full period.

Holdings & Sector Exposure

DVY

Top 5 / 5 shown

  • ALL

    Allstate

    2.42%

  • PFG

    Principal Financial

    2.18%

  • VLO

    Valero Energy

    2.12%

  • CVX

    Chevron

    2.05%

  • PRU

    Prudential

    1.98%

Sector Weights

  • Utilities22.6%
  • Financials19.8%
  • Energy11.2%
  • Consumer Staples10.4%
  • Industrials8.6%
  • Materials6.8%

HDV

Top 5 / 5 shown

  • XOM

    ExxonMobil

    8.92%

  • JNJ

    Johnson & Johnson

    6.81%

  • CVX

    Chevron

    5.95%

  • ABBV

    AbbVie

    5.14%

  • VZ

    Verizon

    4.42%

Sector Weights

  • Energy22.8%
  • Health Care19.4%
  • Consumer Staples17.1%
  • Communication9.8%
  • Industrials8.6%
  • Financials7.2%

Pros & Cons

DVYPros
  • Higher yield of the pair (~3.5%)
  • Utilities-heavy mix (over 20%) offers regulated, bond-like cash flows
  • Long track record — launched in 2003
  • Screens for payout sustainability and dividend growth
HDVPros
  • 0.08% expense ratio — one of the cheapest dividend ETFs
  • Quality/moat screen avoids the weakest high-yielders
  • More sector-balanced: energy, healthcare, and staples
  • Stronger five-year total return (~11.3% annualized)
DVYCons
  • Sector concentration: utilities plus financials dominate
  • Fee of 0.38% is nearly 5x HDV's
  • Rate sensitivity — utilities suffer when yields rise
  • Lower five-year total return than HDV
HDVCons
  • Lower current yield than DVY (~2.9% vs ~3.5%)
  • Concentrated in a smaller number of large names (ExxonMobil, Johnson & Johnson, Chevron)
  • Energy exposure adds commodity-price sensitivity
  • Less of a pure 'high yield' fund than the name suggests
The Verdict

DVY and HDV share a label but not a portfolio. DVY screens on dividend-per-share growth, payout ratio, and liquidity — which tilts it heavily toward utilities and financials — and yields ~3.5% for a 0.38% fee. HDV screens for durable competitive advantage, runs a much lower 0.08% fee, and yields ~2.9% with heavier energy and healthcare exposure. HDV's quality tilt has produced stronger five-year total returns (~11.3% vs ~9.7%), making it the more balanced choice for most investors; DVY remains the tool for utilities-heavy income exposure.

Best for
DVY

Investors specifically seeking utilities-heavy, regulated-cash-flow dividend exposure

Best for
HDV

Investors who want high dividend income filtered through a quality screen at a very low fee

Strategy Summary

DVY

Tracks the Dow Jones U.S. Select Dividend Index — 100 stocks screened on dividend per share growth, payout ratio, and average daily volume, with utilities-heavy exposure.

HDV

Tracks the Morningstar Dividend Yield Focus Index — 75 high-quality U.S. stocks with sustainable competitive advantages, screened by Morningstar's economic-moat and distance-to-default metrics.

Frequently Asked Questions

HDV screens for companies with durable competitive advantages rather than the highest current payouts, so its holdings tend to grow earnings and prices more consistently. Yield is only one part of total return.

DVY. Utilities make up over 20% of the portfolio, and utilities typically fall when interest rates rise. HDV's energy and healthcare tilt makes it less rate-sensitive.

Yes, but they overlap meaningfully in high-dividend large caps. Holding both mainly dampens single-fund sector bets rather than diversifying broadly.
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High Dividend Yield vs High Dividend Yield

VYM vs DVY

VYM's broad market-cap-weighted high-yield exposure versus DVY's growth-screened, utilities-heavy approach. Compare yield, sector tilt, and expense.

Yield 2.4% vs 3.5%Fee 0.04% vs 0.38%
02

High Dividend Yield vs High Dividend Yield

VYM vs HDV

Vanguard's broad VYM holds 400+ names; iShares' HDV holds 75 quality-screened names. Compare yield, expense, sector tilt, and which suits your risk tolerance.

Yield 2.4% vs 2.9%Fee 0.04% vs 0.08%
03

Dividend Growth vs High Dividend Yield

DGRO vs HDV

DGRO screens for companies that raise dividends; HDV screens for durable competitive advantages. Compare a 2.1% grower with a 2.9% payer at the same fee.

Yield 2.1% vs 2.9%Fee 0.08% vs 0.08%
04

High Dividend Yield vs Dividend Growth

HDV vs SCHD

BlackRock's HDV uses moat + distance-to-default screens; Schwab's SCHD uses cash-flow + dividend-growth screens. Compare yield, sector tilt, and methodology.

Yield 2.9% vs 3.4%Fee 0.08% vs 0.06%
05

High Dividend Yield vs High Dividend Yield

SPYD vs VYM

SPYD holds the 80 highest-yielding S&P 500 stocks equally weighted; VYM holds 400+ high-yielders by market cap. Compare yield, sector tilt, and risk.

Yield 4.4% vs 2.4%Fee 0.07% vs 0.04%
06

Dividend Growth vs High Dividend Yield

DGRO vs VYM

DGRO requires at least five years of dividend growth and yields 2.10%; VYM targets above-average yields across several hundred names for 2.41%. Two similar-looking dividend funds with different selection philosophies and outcomes.

Yield 2.1% vs 2.4%Fee 0.08% vs 0.04%

Fund metrics as of April 27, 2026.

Disclaimer: This page is for educational purposes only and is not financial, investment, or tax advice. ETF data is sourced from issuer fact sheets and may be slightly out of date. Past performance is not indicative of future results. Always consult a qualified advisor before making investment decisions.