DIVE vs SPY
Dana Concentrated Dividend ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | DIVE | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.65% | 0.09% | |
| AUM | $46M | $789.1B | |
| Dividend Yield | 1.10% | 1.01% | |
| Holdings | 35 | 505 | |
| YTD Return | +7.93% | +13.79% | |
| 1Y Return | +11.14% | +23.66% | |
| 3Y Return (annualized) | - | +21.40% | |
| 5Y Return (annualized) | - | +13.37% | |
| Volatility (annualized) | - | 15.3% | |
| Max Drawdown | -11.4% | -56.5% | |
| Fund Family | Dana Investment Advisors | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Sep 15, 2025 | Jan 22, 1993 |
DIVE vs SPY Performance
Dana Concentrated Dividend ETF (DIVE) is a ETF from Dana Investment Advisors and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year DIVE returned +11.14% while SPY returned +23.66%. Year to date, DIVE is up 7.93% versus a gain of 13.79% for SPY.
Risk: Volatility and Drawdowns
The deepest peak-to-trough decline in our data was -11.4% for DIVE and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
Fees and Cost Over Time
DIVE charges 0.65% per year while SPY charges 0.09%. On a $10,000 position that is $65 vs $9 annually, a gap of $56 per year that compounds over a long holding period. On income, DIVE currently yields 1.10% against 1.01% for SPY.
Holdings Overlap
DIVE and SPY share 26 holdings out of 511 unique holdings combined, representing a 13.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, DIVE or SPY?
DIVE has an expense ratio of 0.65% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $56 per year of difference.
Which performed better, DIVE or SPY?
Over the past year DIVE returned +11.14% vs +23.66% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results.
What is the holdings overlap between DIVE and SPY?
DIVE and SPY share 26 common holdings with a 13.0% weight overlap. Combined, they hold 511 unique securities.
Which pays a higher dividend, DIVE or SPY?
DIVE yields 1.10% while SPY yields 1.01%, so DIVE currently pays the higher dividend yield.
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