SPDV vs SPY
AAM S&P 500 High Dividend Value ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPDV delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SPDV | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.29% | 0.09% | |
| AUM | $102M | $789.1B | |
| Dividend Yield | 3.37% | 1.01% | |
| Holdings | 54 | 505 | |
| YTD Return | +19.22% | +13.39% | |
| 1Y Return | +29.86% | +22.52% | |
| 3Y Return (annualized) | +16.89% | +21.36% | |
| 5Y Return (annualized) | +10.08% | +13.19% | |
| Volatility (annualized) | 18.3% | 15.3% | |
| Max Drawdown | -45.4% | -56.5% | |
| Fund Family | Advisors Asset Management, Inc. | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Nov 28, 2017 | Jan 22, 1993 |
SPDV vs SPY Performance
AAM S&P 500 High Dividend Value ETF (SPDV) is a ETF from Advisors Asset Management, Inc. and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year SPDV returned +29.86% while SPY returned +22.52%. Year to date, SPDV is up 19.22% versus a gain of 13.39% for SPY.
Over three years, SPDV compounded at +16.89% per year against +21.36% for SPY; over five years the annualized figures are +10.08% and +13.19% respectively. Across the full 9-year window we track, SPY has the edge at +8.84% annualized vs +8.20%. 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 15.3% 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 -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 0.81. 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 3.37% against 1.01% for SPY.
Holdings Overlap
SPDV and SPY share 5 holdings out of 503 unique holdings combined, representing a 0.4% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $20 per year of difference.
Which performed better, SPDV or SPY?
Over the past year SPDV returned +29.86% vs +22.52% for SPY, so SPDV leads on 1-year performance. Over the longest common window we track (9 years), SPDV annualized +8.20% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, SPDV or SPY?
SPDV has been the more volatile fund at 18.3% annualized versus 15.3% for SPY. Worst drawdown: SPDV -45.4% vs SPY -56.5%.
Should I hold both SPDV and SPY?
SPDV and SPY have a monthly-return correlation of 0.81, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPDV and SPY?
SPDV and SPY share 5 common holdings with a 0.4% weight overlap. Combined, they hold 503 unique securities.
Which pays a higher dividend, SPDV or SPY?
SPDV yields 3.37% while SPY yields 1.01%, so SPDV currently pays the higher dividend yield.
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