SPDV vs SPY
AAM S&P 500 High Dividend Value ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, SPDV or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. SPDV led over 1Y, SPY over 3Y, 5Y and the full window. SPDV is less concentrated, with 21.4% of the fund in its ten largest positions against 37.8%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | SPDV | SPY |
|---|---|---|
| Expense Ratio | 0.29% | 0.09%Best |
| AUM | $106M | $804.7B |
| Dividend Yield | 3.23% | 0.98% |
| Holdings | 52 | 505 |
| YTD Return | +17.38%Best | +13.82% |
| 1Y Return | +20.45%Best | +16.96% |
| 3Y Return (annualized) | +18.11% | +22.97%Best |
| 5Y Return (annualized) | +10.76% | +13.73%Best |
| Volatility (annualized) | 18.3% | 16.3%Best |
| Max Drawdown | -45.4% | -34.1%Best |
| $10,000 over 5 years | $16,669 | $19,027Best |
| Top 10 Weight | 21.4%Best | 37.8% |
| Fund Family | Advisors Asset Management, Inc. | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Nov 28, 2017 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Nov 29, 2017 to Sep 21, 2026 (8.8 years).
SPDV vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 8.8 years both funds cover.
SPDV vs SPY Performance
AAM S&P 500 High Dividend Value ETF (SPDV) is an ETF from Advisors Asset Management, Inc. and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year SPDV returned +20.45% while SPY returned +16.96%. Year to date, SPDV is up 17.38% versus a gain of 13.82% for SPY.
Over three years, SPDV compounded at +18.11% per year against +22.97% for SPY; over five years the annualized figures are +10.76% and +13.73% respectively. Across the full 9-year window we track, SPY has the edge at +13.99% annualized vs +7.90%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPDV has been the more volatile fund, with annualized monthly volatility of 18.3% compared with 16.3% for SPY. 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 -45.4% for SPDV and -34.1% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPDV charges 0.29% per year while SPY charges 0.09%. On a $10,000 position that is $29 vs $9 annually, a gap of $20 per year that compounds over a long holding period. On income, SPDV currently yields 3.23% against 0.98% for SPY.
Holdings Overlap
96.4% of SPDV's money is in holdings SPY also owns. 4.5% of SPY's money is in holdings SPDV also owns.
Most of SPDV is already inside SPY. Owning both mostly buys the same companies twice.
53 positions in common, counted across the 56 positions we hold weights for in SPDV and 504 in SPY, against full books of 52 and 505.
What only one of them owns
Our book lists 445 positions for SPY that do not appear in our book for SPDV (95.0% of the fund), and 1 for SPDV that do not appear in SPY (1.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in SPDV | Weight in SPY | Difference |
|---|---|---|---|
| CTSHCognizant Technology Solutions Corp. Class A | 2.56% | 0.05% | 2.51% |
| ACN:IEAccenture PLC Cl A | 2.34% | 0.18% | 2.16% |
| VZVerizon Communic | 1.98% | 0.32% | 1.66% |
| PFEPfizer Inc | 2.01% | 0.25% | 1.76% |
| TBBAt&t Inc | 1.97% | 0.27% | 1.70% |
| HPQHp Inc. | 2.18% | 0.04% | 2.14% |
| BRBroadridge Financial Solutions, Inc. | 2.18% | 0.03% | 2.15% |
| ADPAutomatic Data Processing, Inc. | 2.03% | 0.17% | 1.86% |
| APAApa Corp | 2.14% | 0.02% | 2.12% |
| BMYBristol-Myers Squibb Co. | 1.92% | 0.21% | 1.71% |
96.4% of SPDV is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SPDV or SPY?
SPDV has an expense ratio of 0.29% while SPY charges 0.09%. SPY is the cheaper option, by $20 a year on a $10,000 investment.
Which performed better, SPDV or SPY?
Over the past year SPDV returned +20.45% vs +16.96% for SPY, so SPDV leads on 1-year performance. Over the longest common window we track (9 years), SPDV annualized +7.90% vs +13.99% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPDV or SPY?
SPDV has been the more volatile fund at 18.3% annualized versus 16.3% for SPY. Worst drawdown: SPDV -45.4% vs SPY -34.1%.
Should I hold both SPDV and SPY?
SPDV and SPY have a monthly-return correlation of 0.81, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between SPDV and SPY?
96.4% of SPDV's money is in holdings SPY also owns. 4.5% of SPY's is in holdings SPDV also owns. They hold 53 positions in common, counted across the 56 positions we hold weights for in SPDV and 504 in SPY.
Which pays a higher dividend, SPDV or SPY?
SPDV yields 3.23% while SPY yields 0.98%, so SPDV currently pays the higher dividend yield.
Is SPY better than SPDV?
SPY has a lower expense ratio. SPDV led over 1Y, SPY over 3Y, 5Y and the full window. SPDV is less concentrated, with 21.4% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.