CDL vs DIVB: Grades, Fees and Holdings Compared

VictoryShares US Large Cap High Div Volatility Wtd ETF

CDLBNasdaq

iShares Core Dividend ETF

DIVBACboe

Overlap

28.0%by weight

Expense ratio

DIVB −0.30pt a year

CDL0.35%DIVB0.05%

Avg volume · 30D

DIVB 34.4×the volume

CDL8.69KDIVB298K

5Y return · a year

DIVB +4.0pt

CDL+10.4%DIVB+14.4%

CDL vs DIVB Performance

Nov 2, 2021 – Nov 2, 2026

+64.2%CDL+96.0%DIVB

Expense ratio: CDL 0.35%; DIVB 0.05%, better
Fund size: CDL $410M; DIVB $2.31B
1Y total return: CDL +24.4%; DIVB +41.1%, better
Yield (12M): CDL 3.01%, better; DIVB 2.07%
Holdings: CDL 101; DIVB 384
Avg volume (30D): CDL 8.69K sh; DIVB 298K sh, better
NAV per share: CDL $81.20; DIVB $71.28
52W range

ETF.net Grade

Pillar letters and Scores for CDL, DIVB, with each pillar’s weight
Pillar	CDL	DIVB
Cost30% weight	B57	A95Higher
Mission25% weight	A86	A86
Risk15% weight	A70	A74Higher
Tradability15% weight	C53	B64Higher
Holdings10% weight	A78Higher	B59
Durability5% weight	B55	A71Higher

Rank among US Dividend Index funds

How we build Categories ›

Same Category. CDL and DIVB are both graded against the same 52 US Dividend Index funds, so their Grades compare head to head.

US Dividend Index⁠

Category · 52 funds

See all 52 ›

DIVB ranks 3rd and CDL 15th of 52 funds in the US Dividend Index Category.

Rank 1ADGROiShares Core Dividend Growth ETFScore 86
Rank 2ASCHDSchwab U.S. Dividend Equity ETFScore 81
Rank 3ADIVBiShares Core Dividend ETFScore 80
Rank 4ASPYDState Street SPDR Portfolio S&P 500 High Dividend ETFScore 79
Rank 14BCDCVictoryShares US EQ Income Enhanced Volatility Wtd ETFScore 68
Rank 15BCDLVictoryShares US Large Cap High Div Volatility Wtd ETFScore 67
Rank 15BSDOGALPS Sector Dividend Dogs ETFScore 67

Our read on each fund

ETF.net Research

CDLBVictoryShares US Large Cap High Div Volatility Wtd ETF

DIVBAiShares Core Dividend ETF

In short

CDL CDL sizes its positions by volatility instead of company size: roughly 100 high-yielding US large caps, with the calmer names getting the wider berth. Income lands monthly.

DIVB Most dividend funds only count the check that hits your account. DIVB's index also counts buybacks, treating a shrinking share count as cash returned to owners, and it charges five basis points to do it.

Stated mandate

CDL The fund seeks to track the performance of the CEMP US Large Cap High Dividend 100 Volatility Weighted Index before fees and expenses. It normally invests at least 80% of net assets in stocks included in that index.

DIVB The fund seeks to track an index of U.S. companies selected for a history of dividend payments and/or share buybacks, providing equity exposure oriented toward income and long-term growth.

Why people hold it

CDL The index screens US large caps for high dividends, then weights the survivors by volatility, so a stock's slot is set by how it trades, not how big it is.
Pays monthly, a smoother cadence than the calendar most equity income portfolios run on.
Running since 2015 and still doing the advertised job: at least 80% of net assets in its index's names, tracked closely.
Lands in the upper half of a crowded dividend-screen field, with the underlying basket among its stronger features.

DIVB Five basis points a year, one of the lowest fees in the dividend-screen aisle, where the typical fund charges many times more.
The Morningstar US Dividend and Buyback Index counts repurchases alongside payouts, so a company buying back stock qualifies even with a modest yield. Roughly 400 US names.
Sits in the top tier of a large dividend-screen peer group and stays tight to its stated mandate: US dividend payers and buyback machines, nothing exotic.
A billion-dollar-plus member of the iShares Core lineup, running since 2017 and distributing quarterly.

Worth knowing

CDL The 0.39% fee sits right at the peer median, but big index-tracking rivals like SCHD (0.06%), VIG (0.04%) and DGRO (0.08%) run at a fraction of it.
Thinly traded for the category, so spreads can be wider at the moment you place an order.
A yield screen plus volatility weighting builds a portfolio that looks little like a cap-weighted index, so it moves on its own schedule.

DIVB Buybacks return value through share count, not cash in your pocket, so the income profile can sit lighter than pure high-yield screens like SPYD.
Moderately traded rather than a volume heavyweight like SCHD or VIG, so limit orders earn their keep, especially in size.
All-equity, all-US. Dividends and buybacks soften nothing when the American stock market sells off.

Full CDL profile⁠

Full DIVB profile⁠

CDL vs DIVB Holdings

How CDL and DIVB differ

Overlap by weight

28.0%

Shared holdings make up 91.8% of CDL and 40.0% of DIVB.

Level by level

Holdings91 in both28.0%
Countryby domicile98.9%
Asset classEquity100%

Sector

No Sector split for DIVB.

Country, concentration and asset class

Country by domicile

Country weights in CDL and DIVB, widest gap first
Country	More in CDLMore in DIVB	CDL	DIVB
United Kingdom	CDL +0.7 points	0.8%	0.1%
United States	DIVB +0.7 points	98.7%	99.4%
Other countries (3)	Same weight	0.5%	0.5%

Concentration

Weight in the 10 largest Holdings

CDL15.7%
DIVB32.7%

Securities held

CDL100
DIVB381

Asset class

CDL: Equity
DIVB: Equity

Holdings

Only in CDL9
In both91
Only in DIVB290

Only in CDL

9 securities, 7.8% of CDL by weight

Xcel Energy Inc.1.39%
Medtronic PLC1.11%
Kroger Co/The1.01%
Viper Energy Inc0.98%
Accenture PLC0.72%
Fidelity National Info0.70%
Zoetis Inc0.68%
Omnicom Group Inc.0.64%
Smurfit Westrock PLC0.52%

Only in DIVB

290 securities, 59.7% of DIVB by weight

Accenture PLC Class A6.53%
Automatic Data Processing Inc4.98%
Cognizant Technology Solutions Cla2.97%
JPMorgan Chase & Co2.36%
Johnson & Johnson2.03%
UnitedHealth Group1.46%
Leidos Holdings1.44%
Ss and C Technologies Holdings1.37%
Merck & Co Inc1.34%
Cdw1.31%
Skyworks Solutions1.31%
Bank of America1.12%
Coca-Cola1.08%
Broadridge Financial Solutions Inc1.06%
Wells Fargo1.05%
Hca Healthcare0.97%
Gilead Sciences0.78%
Citigroup0.78%
Amgen Inc0.76%
Gen Digital0.72%
Abbott Laboratories0.66%
Marathon Petroleum0.64%
T Mobile Us Inc0.59%
Cigna0.59%
Elevance Health Inc0.58%
Medtronic PLC0.52%
Morgan Stanley0.51%
Capital One Financial Corp0.50%
Jack Henry and Associates Inc0.49%
Genpact0.43%
Union Pacific0.43%
Valero Energy Corp0.41%
Becton Dickinson0.39%
Travelers Companies0.39%
Avnet0.38%
Bank of New York Mellon Corp0.37%
Aflac0.36%
Lowes Companies Inc0.34%
Nextera Energy0.34%
Phillips 660.33%
BlackRock0.33%
Slb0.32%
D R Horton0.31%
Marsh0.31%
Colgate-Palmolive0.30%
3M0.28%
Prologis Reit0.27%
Illinois Tool Inc0.27%
American Tower Reit0.27%
Ameriprise Finance Inc0.25%

Weight gaps

All 91 Holdings in both funds, largest gap first.

Holding weights in CDL and DIVB, widest gap first
Holding	More in CDLMore in DIVB	CDL	DIVB
International Business MaIBM	DIVB +4.65 points	0.53%	5.18%
Exxonmobil Holdings CorpXOM	DIVB +1.67 points	1.08%	2.75%
Wec Energy GroupWEC	CDL +1.67 points	1.73%	0.06%
Consolidated Edison Inc.ED	CDL +1.60 points	1.62%	0.02%
Evergy IncEVRG	CDL +1.58 points	1.63%	0.05%
Alliant Energy Corp.LNT	CDL +1.55 points	1.59%	0.04%
Firstenergy Corp.FE	CDL +1.51 points	1.58%	0.07%
Cms Energy Corp.CMS	CDL +1.48 points	1.49%	0.01%
Southern CoSO	CDL +1.42 points	1.52%	0.10%
Duke Energy Corp.DUK	CDL +1.40 points	1.65%	0.25%
Ppl Corp.PPL	CDL +1.39 points	1.45%	0.06%
Dte Energy Co.DTE	CDL +1.37 points	1.44%	0.07%
Hp IncHPQ	DIVB +1.34 points	0.54%	1.88%
Public Service EnterprisePEG	CDL +1.33 points	1.43%	0.10%
American Electric Power CAEP	CDL +1.33 points	1.44%	0.11%
Paychex Inc.PAYX	DIVB +1.31 points	0.75%	2.06%
Exelon Corp.EXC	CDL +1.27 points	1.35%	0.08%
Sempra EnergySRE	CDL +1.24 points	1.32%	0.08%
Eversource EnergyES	CDL +1.13 points	1.18%	0.05%
Snap-On Inc.SNA	CDL +1.11 points	1.17%	0.06%
Principal Finl Group IncPFG	CDL +1.08 points	1.21%	0.13%
Dt Midstream IncDTM	CDL +1.07 points	1.10%	0.03%
Kinder Morgan IncKMI	CDL +1.07 points	1.28%	0.21%
KeycorpKEY	CDL +1.04 points	1.13%	0.09%
Hasbro Inc.HAS	CDL +0.96 points	1.00%	0.04%
Keurig Dr Pepper IncKDP	CDL +0.94 points	1.10%	0.16%
Tyson Foods Inc. - Class ATSN	CDL +0.92 points	1.02%	0.10%
Regions Financial Corp.RF	CDL +0.92 points	1.05%	0.13%
M&T Bank CorpMTB	CDL +0.88 points	1.13%	0.25%
Penske Auto Group IncPAG	CDL +0.87 points	0.88%	0.01%
Prudential Financial IncPRU	CDL +0.86 points	1.10%	0.24%
Williams Cos Inc.WMB	CDL +0.86 points	1.07%	0.21%
Darden Restaurants Inc.DRI	CDL +0.86 points	0.96%	0.10%
Kimberly-Clark CorpKMB	CDL +0.83 points	1.07%	0.24%
Fifth Third BancorpFITB	CDL +0.84 points	1.00%	0.16%
T Rowe Price Group Inc.TROW	CDL +0.83 points	0.97%	0.14%
Us BancorpUSB	CDL +0.83 points	1.12%	0.29%
Metlife IncMET	CDL +0.82 points	1.13%	0.31%
Huntington Bancshares IncHBAN	CDL +0.82 points	0.92%	0.10%
AbbVie Inc.ABBV	DIVB +0.82 points	1.12%	1.94%
PermianPR	CDL +0.81 points	0.84%	0.03%
Pnc Finl Services GroupPNC	CDL +0.81 points	1.14%	0.33%
Citizens Financial GroupCFG	CDL +0.81 points	0.93%	0.12%
Franklin Templeton IncBEN	CDL +0.80 points	0.84%	0.04%
Mcdonald's CorpMCD	CDL +0.80 points	1.32%	0.52%
Jm Smucker CoSJM	CDL +0.79 points	0.85%	0.06%
Archer-Daniels-Midland CoADM	CDL +0.79 points	0.89%	0.10%
Warner Music Group CorpWMG	CDL +0.77 points	0.78%	0.01%
Ppg Industries Inc.PPG	CDL +0.74 points	0.85%	0.11%
Hershey Co/TheHSY	CDL +0.73 points	0.85%	0.12%
Chevron CorpCVX	DIVB +0.73 points	1.17%	1.90%
Best Buy Co IncBBY	CDL +0.71 points	0.80%	0.09%
Microchip Technology IncMCHP	DIVB +0.69 points	0.53%	1.22%
Sysco Corp.SYY	CDL +0.68 points	0.90%	0.22%
Stanley Black & DeckerSWK	CDL +0.68 points	0.73%	0.05%
Oneok IncOKE	CDL +0.67 points	0.91%	0.24%
Amcor PLCAMCR	CDL +0.66 points	0.77%	0.11%
Mondelez InternationalMDLZ	CDL +0.66 points	1.10%	0.44%
Tractor Supply CoTSCO	CDL +0.65 points	0.72%	0.07%
Constellation Brands IncSTZ	CDL +0.64 points	0.83%	0.19%
Mccormick & Co Inc.MKC	CDL +0.63 points	0.69%	0.06%
Edison InternationalEIX	CDL +0.63 points	0.74%	0.11%
Cme Group Inc.CME	CDL +0.63 points	1.06%	0.43%
Bunge Global SABG	CDL +0.63 points	0.72%	0.09%
Truist Financial CorpTFC	CDL +0.62 points	1.05%	0.43%
Lockheed Martin CorpLMT	CDL +0.62 points	0.96%	0.34%
Genuine Parts CoGPC	CDL +0.59 points	0.63%	0.04%
Las Vegas Sands CorpLVS	CDL +0.58 points	0.67%	0.09%
Honeywell International IHON	CDL +0.54 points	0.92%	0.38%
Tpg IncTPG	CDL +0.52 points	0.54%	0.02%
Carlyle Group IncCG	CDL +0.51 points	0.56%	0.05%
Target Corp.TGT	CDL +0.49 points	0.79%	0.30%
Nike Inc. Class BNKE	CDL +0.47 points	0.67%	0.20%
United Parcel ServiceUPS	CDL +0.47 points	0.89%	0.42%
Eog Resources IncEOG	CDL +0.46 points	0.96%	0.50%
Ares Management CorpARES	CDL +0.42 points	0.50%	0.08%
Blue Owl Capital IncOWL	CDL +0.42 points	0.46%	0.04%
Cvs Health CorpCVS	CDL +0.34 points	0.76%	0.42%
Procter & Gamble Co.PG	DIVB +0.28 points	1.41%	1.69%
ConocophillipsCOP	CDL +0.28 points	0.95%	0.67%
Bristol-Myers Squibb CoBMY	CDL +0.28 points	0.91%	0.63%
Philip Morris Int'l Inc.PM	DIVB +0.27 points	0.98%	1.25%
Blackstone IncBX	CDL +0.25 points	0.56%	0.31%
Home Depot Inc/TheHD	CDL +0.23 points	0.99%	0.76%
Progressive Corp.PGR	CDL +0.18 points	0.95%	0.77%
Pepsico Inc.PEP	CDL +0.18 points	1.17%	0.99%
Verizon CommunicationsVZ	DIVB +0.14 points	0.87%	1.01%
Pfizer Inc.PFE	DIVB +0.10 points	1.29%	1.39%
Altria Group Inc.MO	DIVB +0.04 points	1.07%	1.11%
Comcast CorpCMCSA	DIVB +0.02 points	0.67%	0.69%
AT&T IncT	CDL +0.01 points	0.81%	0.80%

All 102 CDL holdings⁠All 381 DIVB holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

CDL vs DIVB Cost

Overpaying CDL vs DIVB

$6,066

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

CDL 0.35%
$7,126
DIVB 0.05%
$1,060

Amount$10,000

Years30 years

Cost over time

CDL 0.35%
DIVB 0.05%
Overpaying

Year by year

Year	CDL	DIVB	Overpaying
10	$634	$92	$542
20	$2,454	$360	$2,094
30	$7,126	$1,060	$6,066

Expense ratio

0.35%CDL
0.05%DIVB, cheaper

DIVB0.05%CDL0.35%

0.04%0.70%

Middle half of US Dividend Index funds
Median 0.35%

DIVB 2nd cheapest of 52 funds

CDL 20th cheapest of 52 funds

CDL vs DIVB Dividends

Last 12 months to Nov 2, 2026

Yield (12M): CDL 3.01%, better; DIVB 2.07%
Payout (12M): CDL $2.47; DIVB $1.48
Last payment: CDL $0.21; DIVB $0.42
Ex-dividend: CDL Oct 8, 2026; DIVB Sep 15, 2026
Paid on: CDL Oct 9, 2026; DIVB Sep 18, 2026
Frequency: CDL Monthly; DIVB Quarterly

Distribution history

Per share, 2023 to 2026, same scale for both

CDLMonthly · 46 paymentsAll CDL payments⁠

DIVBQuarterly · 15 paymentsAll DIVB payments⁠

CDL vs DIVB Risk

Fall from peak · 5 years

CDL
DIVB

Risk facts

VolatilityStd dev, 3 years: CDL 12.7%, betterDIVB 14.0%
Return per unit of riskSharpe ratio, 3 years: CDL 1.14DIVB 1.58, better
Worst fallMax drawdown, 5 years: CDL −17.3%, betterDIVB −21.1%
Market sensitivityBeta, 5 years: CDL 0.51DIVB 0.88; Market = 1

CDL and DIVB in the news

All news⁠

Best ETFs
For a rising dividend, iShares Core Dividend Growth ETF ranks first
Updated Nov 2, 2026DIVB

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CDL vs DIVB

In short

Stated mandate

Why people hold it

Worth knowing

How CDL and DIVB differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in CDL

Only in DIVB

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

For a rising dividend, iShares Core Dividend Growth ETF ranks first

How CDL and DIVB differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in CDL

Only in DIVB

Weight gaps