ETF Comparison
HDV vs SPYD: Which Is the Better Pick in 2026?
A head-to-head comparison of iShares Core High Dividend ETF and SPDR Portfolio S&P 500 High Dividend ETF covering yield, cost, risk, and income potential.
Data updated April 5, 2026
Side-by-side snapshot
| HDV | SPYD | |
|---|---|---|
| Full name | iShares Core High Dividend ETF | SPDR Portfolio S&P 500 High Dividend ETF |
| Issuer | iShares | State Street |
| Price | $133.97 | $45.35 |
| Distribution yield | 2.79% | 4.08% |
| Expense ratio | 0.08% | 0.07% |
| AUM | $13.8B | $7.5B |
| Distribution frequency | Quarterly | Quarterly |
| Underlying index | Morningstar Dividend Yield Focus Index | S&P 500 High Dividend Index |
| Objective | Dividend Income | Track the S&P 500 High Dividend Index, holding the highest-yielding stocks within the S&P 500. |
| Asset class | Equity | Equity |
| Inception date | 03/29/2011 | 10/21/2015 |
| Beta | 0.42 | 0.77 |
| Last dividend | $0.84 | $0.45 |
| Ex-dividend date | 03/17/2026 | 03/23/2026 |
Visual comparison
Key metrics
Projected income on $10K
Projections assume the current yield and share price remain constant. Actual results will vary.
Quick verdict
HDV (iShares Core High Dividend ETF) and SPYD (SPDR Portfolio S&P 500 High Dividend ETF) are both popular quarterly-pay dividend income ETFs, but they take different approaches.
SPYD offers the higher yield at 4.08% vs 2.79% for HDV. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
SPYD is cheaper with an expense ratio of 0.07% compared to 0.08%.
They track different benchmarks: HDV is linked to Morningstar Dividend Yield Focus Index while SPYD tracks S&P 500 High Dividend Index, which means their performance drivers differ.
HDV is the larger fund by assets ($13.8B), which generally means tighter spreads and better liquidity.
Deep dive
Yield & income
On a $10,000 investment, HDV would generate roughly $23.25/month while SPYD would produce $34.00/month at current distribution rates. Both pay quarterly distributions.
Cost & efficiency
Over 10 years on $10,000, HDV would cost approximately $80 in fees vs $70 for SPYD (simplified, not compounded). The $10.00 difference may be offset by yield or performance.
Strategy & risk
HDV tracks Morningstar Dividend Yield Focus Index with a dividend income approach, while SPYD tracks S&P 500 High Dividend Index using a track the s&p 500 high dividend index, holding the highest-yielding stocks within the s&p 500. strategy. Beta is 0.42 for HDV and 0.77 for SPYD, indicating HDV is less volatile relative to the market.
Fund details
HDV is managed by iShares (launched 03/29/2011) with $13.8B in assets. SPYD is managed by State Street (launched 10/21/2015) with $7.5B in assets.
Income calculator
See how much monthly income a hypothetical investment would generate in each ETF at current yields.
Frequently asked questions
Is HDV or SPYD better for dividend income?
It depends on your goals. SPYD 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 HDV and SPYD?
HDV (iShares Core High Dividend ETF) tracks Morningstar Dividend Yield Focus Index with a dividend income strategy, while SPYD (SPDR Portfolio S&P 500 High Dividend ETF) tracks S&P 500 High Dividend Index with a track the s&p 500 high dividend index, holding the highest-yielding stocks within the s&p 500. approach. They are issued by iShares and State Street respectively.
Can I hold both HDV and SPYD?
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, HDV or SPYD?
HDV has an expense ratio of 0.08% while SPYD charges 0.07%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in HDV vs SPYD generate?
At current yields, $10,000 in HDV would generate roughly $23.25 per month ($279.00 annually). The same in SPYD would produce about $34.00 per month ($408.00 annually).
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