DV
Dividend Vision

ETF Comparison

DIVO vs FDVV: Which Is the Better Pick in 2026?

A head-to-head comparison of Amplify CWP Enhanced Dividend Income ETF and Fidelity High Dividend ETF covering yield, cost, risk, and income potential.

Data updated September 4, 2026

Best for

  • DIVOInvestors who want higher current income (4.84% vs 3.27% for FDVV).
  • FDVVInvestors who want a quality-dividend tilt rather than the whole market.

Jump to the side-by-side numbers

Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

DIVO has lagged FDVV over the trailing twelve months, posting a 18.68% total return against 19.37%. The lead holds up over 10 years too: FDVV has compounded at 13.63% a year, against 12.91% for DIVO. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
SymbolYTD1Y3Y5Y10YSince Dec 2016Volatility Sharpe Sortino Max drawdown
DIVO11.79%18.68%16.72%11.30%12.91%12.91%10.8%1.021.50-12.1%
FDVV13.07%19.37%19.71%14.08%13.63%13.38%12.6%1.081.55-15.9%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 4, 2026. YTD and 1Y are cumulative; windows of one year or longer are annualized. “Since Dec 2016” measures every fund from December 14, 2016 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricDIVOFDVV
Full nameAmplify CWP Enhanced Dividend Income ETFFidelity High Dividend ETF
IssuerAmplify ETFsFidelity Investments
Last Close$48.39 as of September 4, 2026$63.44 as of September 4, 2026
Distribution rate4.84%3.27%
Distribution Safety Score™ 9393
Safety-Adjusted Yield 4.50%3.04%
Expense ratio0.56%0.15%
AUM$7.95B$10.3B
Distribution frequencyMonthlyQuarterly
Underlying index—Fidelity High Dividend Index
ObjectiveSeeks to provide current income as the primary objective and capital appreciation as the secondary objective by investing at least 80% of net assets in dividend-paying U.S. exchange-traded equity securities while opportunistically utilizing covered call options on those securities.Seeks to track the Fidelity High Dividend Index, investing at least 80% of assets in large- and mid-capitalization high-dividend-paying companies expected to keep paying and growing their dividends.
Asset classEquityEquity
Inception date12/14/201609/12/2016
Beta0.540.76
Last dividend$0.195$0.519
Ex-dividend date08/28/202606/18/2026

Bottom lineChoose DIVO if you want higher current income (4.84% vs 3.27% for FDVV). Choose FDVV if you want a quality-dividend tilt rather than the whole market.

Model this comparison:
Compare in my portfolio Forecast income Save to watchlist

Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

Amplify ETFs
ETFs46
Total AUM$16.9B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Amplify ETFs is known for offering specialized, thematic investment solutions across diverse market segments including digital assets, commodities, and dividend strategies. The issuer's lineup spans multiple fund families covering income-focused strategies, covered call approaches, commodity exposure, and thematic sectors such as cybersecurity, blockchain, gaming, and sustainable investing. Notable for tickers like BLOK (blockchain), HACK (cybersecurity), and DIVO (dividend), Amplify combines traditional income strategies with alternative themes and emerging asset classes, appealing to investors seeking both yield and exposure to innovation-driven sectors.

See our curated list of related YouTube videos on DIVO.

See all Amplify ETFs ETFs
Fidelity Investments
ETFs82
Total AUM$207B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Fidelity Investments is one of the largest asset managers globally and maintains a substantial presence in the ETF market with a diverse lineup spanning multiple investment strategies. Their offerings cover a wide spectrum of approaches including traditional dividend and income strategies, factor-based and thematic investing, international equity exposure, bond allocations, and index-tracking funds. The issuer is known for both broad market accessibility and specialized strategies, serving investors across various risk profiles and investment objectives.

See our curated list of related YouTube videos on FDVV.

See all Fidelity Investments ETFs

Want to go deeper?

Add these ETFs to a sample portfolio and forecast your dividend income over 5+ years — free to start, no credit card.

Compare in my portfolio Forecast income Save to watchlist

Quick verdict

DIVO (Amplify CWP Enhanced Dividend Income ETF) and FDVV (Fidelity High Dividend ETF) are both dividend ETFs, but they take different approaches.

DIVO offers the higher yield at 4.84% vs 3.27% for FDVV. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

FDVV is cheaper with an expense ratio of 0.15% compared to 0.56%.

FDVV is the larger fund by assets ($10.3B), but assets alone do not establish trading costs or liquidity.

Who should choose each?

Choose DIVO

Amplify CWP Enhanced Dividend Income ETF

  • Want higher current income — DIVO yields 4.84% vs 3.27% for FDVV.
  • Want broad equity exposure.
  • Prefer lower volatility — a beta of 0.5 vs 0.8 for FDVV.

Choose FDVV

Fidelity High Dividend ETF

  • Want a quality-dividend tilt — screened payers rather than the broad index.
  • Want to keep costs low — a 0.15% expense ratio vs 0.56% for DIVO.

Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.

Deep dive

Yield & income

On a $10,000 investment, DIVO would generate roughly $40.33/month, while FDVV would produce $27.25/month, at current distribution rates.

DIVO yield4.84%
FDVV yield3.27%
Monthly diff on $10K$13.08

Cost & efficiency

Over 10 years on $10,000, DIVO would cost approximately $560 in fees vs $150 for FDVV (simplified, not compounded). The $410.00 difference may be offset by yield or performance.

DIVO ER0.56%
FDVV ER0.15%

Strategy & risk

DIVO is an ETF built around a derivative overlay strategy, while FDVV tracks Fidelity High Dividend Index. Beta is 0.54 for DIVO and 0.76 for FDVV, making DIVO the less volatile of the two by this measure.

DIVO beta0.54
FDVV beta0.76

Fund details

DIVO is managed by Amplify ETFs (launched 12/14/2016) with $7.95B in assets. FDVV is managed by Fidelity Investments (launched 09/12/2016) with $10.3B in assets.

DIVO AUM$7.95B
FDVV AUM$10.3B
Ready to act?
Open in Comparator Model in portfolio See pricing

Enjoyed this page?

Do us a favor — if you found this comparison useful, please share it with a friend researching dividend ETFs.

Frequently asked questions

What is the current distribution rate for DIVO and FDVV?

DIVO currently distributes 4.84% and FDVV 3.27%, based on fund data updated September 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is DIVO or FDVV better for dividend income?

It depends on your goals. DIVO currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.

What is the difference between DIVO and FDVV?

DIVO (Amplify CWP Enhanced Dividend Income ETF) is an ETF built around a derivative overlay strategy, while FDVV (Fidelity High Dividend ETF) tracks Fidelity High Dividend Index. They are issued by Amplify ETFs and Fidelity Investments respectively.

Can I hold both DIVO and FDVV?

Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.

Is DIVO or FDVV safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — they are effectively tied: DIVO scores 93, FDVV scores 93. Neither has a clear safety edge on that measure. DIVO has also shown lower price volatility (beta 0.54 vs 0.76 for FDVV). No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, DIVO or FDVV?

DIVO has an expense ratio of 0.56% while FDVV charges 0.15%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in DIVO vs FDVV generate?

At current rates, $10,000 in DIVO would generate roughly $40.33 per month ($484.00 annually). The same in FDVV would produce about $27.25 per month ($327.00 annually).

Which has performed better historically, DIVO or FDVV?

DIVO has lagged FDVV over the trailing twelve months, posting a 18.68% total return against 19.37%. The lead holds up over 10 years too: FDVV has compounded at 13.63% a year, against 12.91% for DIVO. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

DIVO vs FDVV — at a glance

Generated September 5, 2026.

Overview

DIVO and FDVV are both U.S. dividend equity ETFs seeking current income through large- and mid-cap dividend payers, but they pursue that goal through fundamentally different mechanics. DIVO actively overlays covered call options on dividend stocks to enhance yield, while FDVV passively tracks the Fidelity High Dividend Index with no derivatives. That structural difference drives a roughly 1.5-percentage-point yield gap, different fee profiles, and materially different downside capture.

How they differ

DIVO's defining feature is its covered call strategy: it sells call options against its holdings to collect premium and boost yield to 4.84%, distributed monthly. FDVV is a straightforward passive index fund tracking dividend-growth stocks, yielding 3.27% quarterly with no options overlay. That single fact cascades into three secondary differences. First, fees: DIVO charges 0.56%, reflecting active management and options trading costs, while FDVV charges 0.15% as a passive vehicle. Second, downside resilience: DIVO has a 0.54 beta versus FDVV's 0.76, reflecting the dual effect of covered calls capping upside and the funds' different underlying exposures. Third, portfolio construction: DIVO actively selects and rebalances around option positions, while FDVV mechanically tracks an index of high-dividend payers expected to sustain and grow payouts.

Who each is best for

DIVO: Fits investors prioritizing maximum current monthly income from equity dividend exposure and comfortable accepting capped upside in exchange for lower volatility and call-premium enhancement.

FDVV: Designed for investors seeking a lower-fee, passive dividend-growth exposure with quarterly distributions and full participation in market rallies, accepting lower current yield in exchange for simplicity and capital appreciation potential.

Key risks to know

  • Covered call cap on upside. DIVO's call sales mean significant equity rallies will be partially capped as shares are called away or unrealized gains are forgone; this drag compounds in sustained bull markets and is structural to the strategy.
  • Call assignment and portfolio disruption. When in-the-money calls are exercised, DIVO must sell shares and reinvest proceeds, locking in gains and creating tax and rebalancing friction; rapid volatility swings can force frequent forced sales.
  • Option implied-volatility dependency. DIVO's premium income relies on elevated implied volatility; when volatility contracts, call premiums shrink, reducing the yield boost and forcing the fund to pursue more aggressive strikes or wider coverage to maintain its distribution level.
  • NAV sensitivity to dividend cuts. Both funds concentrate in high-dividend stocks, which carry elevated risk of dividend reductions or suspensions in economic downturns; FDVV's index is designed to hold dividend growers, but selection can lag reality.
  • Overlapping equity exposure. Both funds invest in large- and mid-cap U.S. dividend payers; their holdings may overlap significantly, so holding both does not diversify equity concentration risk.

Bottom line

If you prioritize income and can tolerate capped upside in exchange for lower volatility, DIVO's covered call overlay justifies its higher fee through monthly distributions and a 0.54 beta. If you want a low-cost, passive dividend foundation with full upside capture and quarterly payouts, FDVV's 0.15% expense ratio and simpler structure appeal. Past performance does not predict future results.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

Learn the method

The metrics behind this comparison, explained in the Academy.

How covered-call funds work How to read a fund's stats The covered-call opportunity cost

Still deciding? Compare them against your own portfolio

See how each ETF fits alongside your real holdings — forecast future income, analyze overlap, and gauge risk. Start a free 7-day Dividend Vision trial and make the call with your full portfolio in view.

Start Free Open in Comparator Browse Screener