DVND vs SPY
Touchstone Dividend Select 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 | DVND | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.50% | 0.09% | |
| AUM | $54M | $789.1B | |
| Dividend Yield | 1.80% | 1.01% | |
| Holdings | 57 | 505 | |
| YTD Return | +14.18% | +14.47% | |
| 1Y Return | +19.32% | +21.96% | |
| 3Y Return (annualized) | +16.42% | +21.70% | |
| 5Y Return (annualized) | - | +13.30% | |
| Volatility (annualized) | 13.3% | 15.3% | |
| Max Drawdown | -14.8% | -56.5% | |
| Fund Family | Touchstone Investments | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Aug 2, 2022 | Jan 22, 1993 |
DVND vs SPY Performance
Touchstone Dividend Select ETF (DVND) is a ETF from Touchstone Investments and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year DVND returned +19.32% while SPY returned +21.96%. Year to date, DVND is up 14.18% versus a gain of 14.47% for SPY.
Over three years, DVND compounded at +16.42% per year against +21.70% for SPY. Across the full 4-year window we track, DVND has the edge at +14.40% annualized vs +8.87%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 13.3% for DVND. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -14.8% for DVND and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.88. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
DVND charges 0.50% per year while SPY charges 0.09%. On a $10,000 position that is $50 vs $9 annually, a gap of $41 per year that compounds over a long holding period. On income, DVND currently yields 1.80% against 1.01% for SPY.
Holdings Overlap
DVND and SPY share 55 holdings out of 504 unique holdings combined, representing a 31.9% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, DVND or SPY?
DVND has an expense ratio of 0.50% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $41 per year of difference.
Which performed better, DVND or SPY?
Over the past year DVND returned +19.32% vs +21.96% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (4 years), DVND annualized +14.40% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, DVND or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 13.3% for DVND. Worst drawdown: DVND -14.8% vs SPY -56.5%.
Should I hold both DVND and SPY?
DVND and SPY have a monthly-return correlation of 0.88, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DVND and SPY?
DVND and SPY share 55 common holdings with a 31.9% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, DVND or SPY?
DVND yields 1.80% while SPY yields 1.01%, so DVND currently pays the higher dividend yield.
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