ETF Comparison
SPY vs FDVV: Which Is the Better Pick in 2026?
A head-to-head comparison of SPDR S&P 500 ETF Trust and Fidelity High Dividend ETF covering yield, cost, risk, and income potential.
Data updated April 5, 2026
Side-by-side snapshot
| SPY | FDVV | |
|---|---|---|
| Full name | SPDR S&P 500 ETF Trust | Fidelity High Dividend ETF |
| Issuer | State Street | Fidelity Investments |
| Price | $655.24 | $55.40 |
| Distribution yield | 1.06% | 2.77% |
| Expense ratio | 0.09% | 0.15% |
| AUM | $698.3B | $8.9B |
| Distribution frequency | Quarterly | Quarterly |
| Underlying index | S&P 500 Index | Fidelity High Dividend Index |
| Objective | Track the S&P 500 Index before expenses. | Dividend Income |
| Asset class | Equity | Equity |
| Inception date | 01/22/1993 | 09/12/2016 |
| Beta | 1.0 | 0.8 |
| Last dividend | $1.80 | $0.44 |
| Ex-dividend date | 03/20/2026 | 03/20/2026 |
Visual comparison
Key metrics
Projected income on $10K
Projections assume the current yield and share price remain constant. Actual results will vary.
Quick verdict
SPY (SPDR S&P 500 ETF Trust) and FDVV (Fidelity High Dividend ETF) are both popular quarterly-pay track the s&p 500 index before expenses. ETFs, but they take different approaches.
FDVV offers the higher yield at 2.77% vs 1.06% for SPY. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
SPY is cheaper with an expense ratio of 0.09% compared to 0.15%.
They track different benchmarks: SPY is linked to S&P 500 Index while FDVV tracks Fidelity High Dividend Index, which means their performance drivers differ.
SPY is the larger fund by assets ($698.3B), which generally means tighter spreads and better liquidity.
Deep dive
Yield & income
On a $10,000 investment, SPY would generate roughly $8.83/month while FDVV would produce $23.08/month at current distribution rates. Both pay quarterly distributions.
Cost & efficiency
Over 10 years on $10,000, SPY would cost approximately $90 in fees vs $150 for FDVV (simplified, not compounded). The $60.00 difference may be offset by yield or performance.
Strategy & risk
SPY tracks S&P 500 Index with a track the s&p 500 index before expenses. approach, while FDVV tracks Fidelity High Dividend Index using a dividend income strategy. Beta is 1.0 for SPY and 0.8 for FDVV, indicating FDVV is less volatile relative to the market.
Fund details
SPY is managed by State Street (launched 01/22/1993) with $698.3B in assets. FDVV is managed by Fidelity Investments (launched 09/12/2016) with $8.9B in assets.
Income calculator
See how much monthly income a hypothetical investment would generate in each ETF at current yields.
Frequently asked questions
Is SPY or FDVV better for dividend income?
It depends on your goals. FDVV 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 SPY and FDVV?
SPY (SPDR S&P 500 ETF Trust) tracks S&P 500 Index with a track the s&p 500 index before expenses. strategy, while FDVV (Fidelity High Dividend ETF) tracks Fidelity High Dividend Index with a dividend income approach. They are issued by State Street and Fidelity Investments respectively.
Can I hold both SPY and FDVV?
Yes. Many income investors hold both to diversify across different strategies and underlying indexes. This can reduce concentration risk while maintaining a strong income stream.
Which has lower fees, SPY or FDVV?
SPY has an expense ratio of 0.09% 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 SPY vs FDVV generate?
At current yields, $10,000 in SPY would generate roughly $8.83 per month ($106.00 annually). The same in FDVV would produce about $23.08 per month ($277.00 annually).
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