Data as of Oct 28, 2026.
DVY vs VO: Differences, Returns & Fees
Over the year to Oct 28, 2026, DVY returned +17.1% to VO's +12.8%; 13% of their weight is in the same names.
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Net assets: $23.4bn on Oct 27, 2026 for iShares Select Dividend ETF, and $103.4bn on Sep 30, 2026 for Vanguard Morningstar Mid-Cap ETF.
Pair scorecard
VO costs 0.35 points a year less; their one-year returns differ by 4.3 points; VO is 4.7 times larger.
| Measure | DVY | VO |
|---|---|---|
| Return | ||
| Total return, 1 year | +17.1% | +12.8% |
| Drawdown | ||
| Below its high | 3.1%, high on Aug 14, 2026 | |
| Benchmark | ||
| What it tracks | Dow Jones U.S. Select Dividend Index | Morningstar US Mid Cap Index (formerly CRSP US Mid Cap Index) |
| Cost and size | ||
| Expense ratio | 0.38% | 0.03% |
| Net assets, as of Sep 30, 2026 | $22.2bn | $103.4bn |
| Holdings | ||
| Holdings in common | 13% | |
| Top ten holdings, share of the fund | 19.7% | 9.7% |
Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method
Risk and return
Feb 6, 2004 to Oct 23, 2026 · 1,185 weekly returnsVO returned more: +797.9% to +560.5%. DVY swung slightly less: 18.0% to 19.6%. VO fell slightly less at its worst: −58.4% to −62.0%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | DVY | VO | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +560.5% | +797.9% | VO | Price change plus distributions, reinvested. |
| Annualized | +8.6% | +10.1% | VO | Total return as a yearly rate. |
| Price return | +192.9% | +546.9% | VO | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 18.0% | 19.6% | DVY (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 12.8% | 13.8% | DVY (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −62.0% | −58.4% | VO (slight) | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.45 | 0.50 | VO (slight) | Return above Treasury bills per unit of volatility. |
| Sortino | 0.63 | 0.71 | VO | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.14 | 0.17 | VO | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,185 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, DVY and VO hold 13% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.
half
13% in common
Only in one fund ↓
Side by side
DVY and VO on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
DVY and VO do different jobs. What does each one do in a portfolio?
- What each follows. DVY follows Dow Jones U.S. Select Dividend Index and VO follows Morningstar US Mid Cap Index (formerly CRSP US Mid Cap Index).
- Holdings in common. 13% of the weight is in the same securities (holdings dated Oct 27, 2026 and Sep 30, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 DVY returned +17.1% and VO +12.8% with distributions reinvested, a gap of 4.3 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%.
VO
VO tracks an index of Mid-Cap. Over the year to Oct 28, 2026 it returned +12.8% with distributions reinvested. The prospectus expense ratio is 0.03% a year. By its holdings published by its issuer as of Sep 30, 2026, 91% of the fund by weight is stocks the S&P 500 also holds, across 273 positions, with the top ten at 9.7%. It sat 3.1% below its high of Aug 14, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, DVY or VO?
- In the year to Oct 28, 2026, with distributions reinvested, DVY returned +17.1% and VO +12.8%.
- Which is cheaper, DVY or VO?
- VO is cheaper, by 0.35 percentage points a year. That is about $35 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
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 VO, data as of Oct 28, 2026. https://etfiq.com/compare/any/dvy-vs-vo
ETFIQ. (Oct 28, 2026). DVY against VO. Retrieved from https://etfiq.com/compare/any/dvy-vs-vo
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