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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 18, 2026

Best for

  • DIVOInvestors who want higher current income (4.94% vs 3.35% 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

100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings.

DIVO has lagged FDVV over the trailing twelve months, posting a 14.68% total return against 15.08%. The lead holds up over 5 years too: FDVV has compounded at 14.08% a year, against 11.42% 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.
SymbolYTD1Y3Y5YSince Dec 2016Volatility Sharpe Sortino Max drawdown
DIVO9.43%14.68%15.81%11.42%12.61%10.8%0.951.39-12.1%
FDVV10.58%15.08%19.17%14.08%13.07%12.6%1.041.49-15.9%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 18, 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 start of shared available history — 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$47.37 as of September 18, 2026$62.04 as of September 18, 2026
Distribution rate4.94%3.35%
Distribution Safety Score™ 9393
Safety-Adjusted Yield 4.59%3.12%
Expense ratio0.56%0.15%
AUM$7.83B$10.3B
Distribution frequencyMonthlyQuarterly
Underlying indexFidelity 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 (4.94% vs 3.35% for FDVV). Choose FDVV if you want a quality-dividend tilt rather than the whole market.

Income calculator

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

ETFs46
Total AUM$16.7B

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.

ETFs85
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.

Want to go deeper?

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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 4.94% vs 3.35% 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 4.94% vs 3.35% 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 $41.17/month, while FDVV would produce $27.92/month, at current distribution rates.

DIVO yield4.94%
FDVV yield3.35%
Monthly diff on $10K$13.25

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 $7.83B in assets. FDVV is managed by Fidelity Investments (launched 09/12/2016) with $10.3B in assets.

DIVO AUM$7.83B
FDVV AUM$10.3B

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Frequently asked questions

What is the current distribution rate for DIVO and FDVV?

DIVO currently distributes 4.94% and FDVV 3.35%, 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 $41.17 per month ($494.00 annually). The same in FDVV would produce about $27.92 per month ($335.00 annually).

Which has performed better historically, DIVO or FDVV?

DIVO has lagged FDVV over the trailing twelve months, posting a 14.68% total return against 15.08%. The lead holds up over 5 years too: FDVV has compounded at 14.08% a year, against 11.42% 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 20, 2026.

Overview

DIVO and FDVV are both U.S. dividend-focused ETFs with roughly $10 billion in combined assets, but they pursue their income differently. DIVO actively manages a covered call overlay on dividend stocks to generate additional income through option premiums, while FDVV passively tracks an index of high-dividend large- and mid-cap companies. The result is a meaningful gap in yield, frequency, and volatility profile.

How they differ

The biggest difference is DIVO's use of covered call options to boost income. DIVO sells call options against its holdings each month, collecting premiums that supplement dividend payments—resulting in a 4.94% distribution rate versus FDVV's 3.35%. That 1.59 percentage-point gap trades off against upside cap: when call options are exercised, shares get called away, capping gains on rallies.

Third, DIVO's beta of 0.54 is notably lower than FDVV's 0.76, reflecting the dampening effect of the covered call strategy—fewer big up days, but also cushioning on declines. FDVV is the larger fund by assets ($10.3B versus $7.83B).

Who each is best for

DIVO: Fits investors who prioritize steady monthly income over capital appreciation and are willing to accept capped upside in exchange for a higher current yield and lower portfolio volatility.

FDVV: Fits investors seeking dividend growth and index-level transparency at low cost, preferring exposure to the full upside of dividend-growth companies despite a lower current yield.

Key risks to know

  • Covered call cap risk (DIVO): Selling calls caps upside when the market rallies past the strike price. In a strong bull market, this drag compounds, potentially underperforming broad equity indices by a widening margin.
  • Yield sustainability and NAV erosion (DIVO): A 4.94% yield backed partly by option premiums may rely on continued volatility and call exercise. If implied volatility falls sharply or call prices drop, the fund may struggle to maintain that payout without drawing down NAV.
  • Dividend cut risk (both): Both funds concentrate in high-dividend payers, which can face headwinds (rising rates, sector rotation, earnings pressure) that trigger dividend cuts or suspensions, reducing the yield cushion.
  • Sector concentration (FDVV): Index-tracking dividend funds often load heavily into financials, utilities, and energy. A downturn in those sectors will hit harder than a diversified approach.
  • Interest rate sensitivity: Rising rates tend to pressure high-dividend stocks more than the broader market, especially REITs and utilities. FDVV's higher beta (0.76) means it may experience sharper declines in rising-rate environments.

Bottom line

DIVO offers a higher income stream with lower volatility but accepts capped upside and ongoing option-premium risk. FDVV provides simpler, cheaper index exposure and full participation in dividend-paying-stock rallies, though at a lower current yield. If income generation is the sole priority, DIVO's premium makes sense; if you want growth alongside dividends, FDVV's lower fees and uncapped upside merit consideration. Past performance doesn't 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.

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