Data as of Oct 28, 2026.
DVY vs SPY: Differences, Returns & Fees
Over the year to Oct 28, 2026, DVY returned +17.1% to SPY's +13.6%; 9% of their weight is in the same names.
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Net assets on Oct 27, 2026: $23.4bn for iShares Select Dividend ETF and $814.8bn for SPDR S&P 500 ETF Trust.
Pair scorecard
SPY costs 0.29 points a year less; their one-year returns differ by 3.5 points; SPY is far larger, $814.8bn against $23.4bn.
| Measure | DVY | SPY |
|---|---|---|
| Return | ||
| Total return, 1 year | +17.1% | +13.6% |
| Benchmark | ||
| What it tracks | Dow Jones U.S. Select Dividend Index | S&P 500 Index |
| Cost and size | ||
| Expense ratio | 0.38% | 0.09% |
| Net assets, as of Oct 27, 2026 | $23.4bn | $814.8bn |
| Holdings | ||
| Holdings in common | 9% | |
| Top ten holdings, share of the fund | 19.7% | 38.1% |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Nov 14, 2003 to Oct 23, 2026 · 1,197 weekly returnsSPY returned more: +997.0% to +622.4%. SPY swung slightly less: 17.2% to 17.9%. SPY fell less at its worst: −54.6% to −62.0%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | DVY | SPY | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +622.4% | +997.0% | SPY | Price change plus distributions, reinvested. |
| Annualized | +9.0% | +11.0% | SPY | Total return as a yearly rate. |
| Price return | +218.6% | +620.6% | SPY | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 17.9% | 17.2% | SPY (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 12.8% | 12.1% | SPY (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −62.0% | −54.6% | SPY | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.47 | 0.59 | SPY | Return above Treasury bills per unit of volatility. |
| Sortino | 0.66 | 0.83 | SPY | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.14 | 0.20 | SPY | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,197 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, DVY and SPY hold 9% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
9% in common
Only in one fund ↓
Side by side
DVY and SPY on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
DVY and SPY do different jobs. What does each one do in a portfolio?
- What each follows. DVY follows Dow Jones U.S. Select Dividend Index and SPY follows S&P 500 Index.
- Holdings in common. 9% of the weight is in the same securities (holdings dated Oct 27, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 DVY returned +17.1% and SPY +13.6% with distributions reinvested, a gap of 3.5 points.
Data as of Oct 28, 2026.
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DVY
DVY tracks an index of US dividend. Over the year to Oct 28, 2026 it returned +17.1% with distributions reinvested. The prospectus expense ratio is 0.38% a year. By its holdings published by its issuer for Oct 27, 2026, 80% of the fund by weight is stocks the S&P 500 also holds, across 101 positions, with the top ten at 19.7%.
SPY
SPY tracks the S&P 500. Over the year to Oct 28, 2026 it returned +13.6% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.09% a year. By its holdings published by its issuer for Oct 27, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 504 positions, with the top ten at 38.1%.
Questions people ask
- Which returned more over the last year, DVY or SPY?
- In the year to Oct 28, 2026, with distributions reinvested, DVY returned +17.1% and SPY +13.6%.
- Which is cheaper, DVY or SPY?
- SPY is cheaper, by 0.29 percentage points a year. That is about $29 on $10,000 held for a year. Fees come from each fund's prospectus.
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How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, DVY against SPY, data as of Oct 28, 2026. https://etfiq.com/compare/any/dvy-vs-spy
ETFIQ. (Oct 28, 2026). DVY against SPY. Retrieved from https://etfiq.com/compare/any/dvy-vs-spy
[DVY against SPY (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/dvy-vs-spy)
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