Data as of Oct 28, 2026.
SDY vs VOE: Differences, Returns & Fees
Over the year to Oct 28, 2026, SDY returned +16.5% to VOE's +22.8%; 17% of their weight is in the same names.
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Net assets: $21.9bn on Oct 27, 2026 for State Street SPDR S&P Dividend ETF, and $22.8bn on Sep 30, 2026 for Vanguard Morningstar Mid-Cap Value ETF.
Pair scorecard
VOE costs 0.30 points a year less; their one-year returns differ by 6.3 points; VOE is 1.1 times larger.
| Measure | SDY | VOE |
|---|---|---|
| Return | ||
| Total return, 1 year | +16.5% | +22.8% |
| Benchmark | ||
| What it tracks | S&P High Yield Dividend Aristocrats Index | Morningstar US Mid Cap Value Index |
| Cost and size | ||
| Expense ratio | 0.35% | 0.05% |
| Net assets, as of Sep 30, 2026 | $20.4bn | $22.8bn |
| Holdings | ||
| Holdings in common | 17% | |
| Top ten holdings, share of the fund | 20.4% | 14.0% |
Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method
Risk and return
Sep 1, 2006 to Oct 23, 2026 · 1,051 weekly returnsVOE returned more: +515.4% to +455.7%. SDY swung less: 17.8% to 20.4%. SDY fell less at its worst: −54.4% to −61.2%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | SDY | VOE | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +455.7% | +515.4% | VOE | Price change plus distributions, reinvested. |
| Annualized | +8.9% | +9.4% | VOE (slight) | Total return as a yearly rate. |
| Price return | +169.6% | +301.7% | VOE | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 17.8% | 20.4% | SDY | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 12.5% | 14.5% | SDY | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −54.4% | −61.2% | SDY | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.47 | 0.46 | SDY (slight) | Return above Treasury bills per unit of volatility. |
| Sortino | 0.67 | 0.65 | SDY (slight) | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.16 | 0.15 | SDY (slight) | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,051 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, SDY and VOE hold 17% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.
half
17% in common
Only in one fund ↓
Side by side
SDY and VOE on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
SDY and VOE are built for the same job. How do they differ in cost, holdings and results?
- What each follows. SDY follows S&P High Yield Dividend Aristocrats Index and VOE follows Morningstar US Mid Cap Value Index.
- Holdings in common. 17% 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 SDY returned +16.5% and VOE +22.8% with distributions reinvested, a gap of 6.3 points.
Data as of Oct 28, 2026.
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SDY
SDY tracks the S&P Dividend. Over the year to Oct 28, 2026 it returned +16.5% with distributions reinvested. The prospectus expense ratio is 0.35% a year. By its holdings published by its issuer for Oct 27, 2026, 84% of the fund by weight is stocks the S&P 500 also holds, across 156 positions, with the top ten at 20.4%.
VOE
VOE tracks an index of Mid-Cap Value. Over the year to Oct 28, 2026 it returned +22.8% with distributions reinvested. The prospectus expense ratio is 0.05% a year. By its holdings published by its issuer as of Sep 30, 2026, 96% of the fund by weight is stocks the S&P 500 also holds, across 169 positions, with the top ten at 14.0%.
Questions people ask
- Which returned more over the last year, SDY or VOE?
- In the year to Oct 28, 2026, with distributions reinvested, SDY returned +16.5% and VOE +22.8%.
- Which is cheaper, SDY or VOE?
- VOE is cheaper, by 0.30 percentage points a year. That is about $30 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, SDY against VOE, data as of Oct 28, 2026. https://etfiq.com/compare/any/sdy-vs-voe
ETFIQ. (Oct 28, 2026). SDY against VOE. Retrieved from https://etfiq.com/compare/any/sdy-vs-voe
[SDY against VOE (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/sdy-vs-voe)
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