DIVB vs PFM: Grades, Fees and Holdings Compared

iShares Core Dividend ETF

DIVBACboe

Invesco Dividend Achievers ETF

PFMCNasdaq

Overlap

40.2%by weight

Expense ratio

DIVB −0.47pt a year

DIVB0.05%PFM0.52%

Avg volume · 30D

DIVB 16.0×the volume

DIVB298KPFM18.7K

5Y return · a year

DIVB +3.8pt

DIVB+14.5%PFM+10.7%

DIVB vs PFM Performance

Oct 29, 2021 – Oct 30, 2026

+96.4%DIVB+66.5%PFM

Expense ratio: DIVB 0.05%, better; PFM 0.52%
Fund size: DIVB $2.31B; PFM $815M
1Y total return: DIVB +40.7%, better; PFM +16.4%
Yield (12M): DIVB 2.08%, better; PFM 1.29%
Holdings: DIVB 384; PFM 431
Avg volume (30D): DIVB 298K sh, better; PFM 18.7K sh
NAV per share: DIVB $71.28; PFM $58.41
52W range

ETF.net Grade

Pillar letters and Scores for DIVB, PFM, with each pillar’s weight
Pillar	DIVB	PFM
Cost30% weight	A95Higher	F18
Mission25% weight	A86Higher	A84
Risk15% weight	A74Higher	B62
Tradability15% weight	B64Higher	C50
Holdings10% weight	B60Higher	B57
Durability5% weight	A71Higher	B64

Rank among US Dividend Index funds

How we build Categories ›

Same Category. DIVB and PFM 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 PFM 30th 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 30CFDLFirst Trust Morningstar Dividend Leaders Index FundScore 52
Rank 30CPFMInvesco Dividend Achievers ETFScore 52
Rank 32CQDEFNorthern Trust Quality Dividend Defensive ETFScore 51

Our read on each fund

ETF.net Research

DIVBAiShares Core Dividend ETF

PFMCInvesco Dividend Achievers ETF

In short

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.

PFM A 2005-vintage dividend fund that casts a wide net: roughly 400 US dividend payers from the Nasdaq Dividend Achievers family, held close to the index. The trade-off is price, in a corner of the market that has gotten very cheap.

Stated mandate

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.

PFM The Fund seeks to replicate the NASDAQ US Broad Dividend Achievers Index before fees and expenses and normally invests at least 90% of assets in dividend-paying common stocks in that Index.

Why people hold it

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.

PFM Wide net, not a narrow screen: about 400 US dividend payers, with at least 90% of assets in the common stocks of its Nasdaq Broad Dividend Achievers index.
Trading since 2005, so the record spans several market cycles. Dividends are passed through quarterly.
Sticks to the script. The portfolio has stayed tight to the index it promises to replicate, which is the entire job description for a fund like this.

Worth knowing

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.

PFM 0.52% a year sits above the median for its dividend-screen peers, and the category's anchors (VIG at 0.04%, SCHD at 0.06%) charge a small fraction of that.
Thinly traded next to the category's giants, so limit orders and patience matter more here than they would in a household-name dividend fund.
Overall it lands in the lower half of its dividend-screen peer group, driven by cost and trading friction rather than by how it runs the index.

Full DIVB profile⁠

Full PFM profile⁠

DIVB vs PFM Holdings

How DIVB and PFM differ

Overlap by weight

40.2%

Shared holdings make up 70.0% of DIVB and 46.6% of PFM.

Level by level

Holdings180 in both40.2%
Countryby domicile99.3%
Asset classEquity100%

Sector

No Sector split for DIVB.

Country, concentration and asset class

Country by domicile

Country weights in DIVB and PFM, widest gap first
Country	More in DIVBMore in PFM	DIVB	PFM
United States	DIVB +0.1 points	99.4%	99.3%
Switzerland	PFM +0.5 points	0.0%	0.5%
India	DIVB +0.4 points	0.4%	0.0%
China	PFM +0.2 points	0.0%	0.2%
United Kingdom	DIVB +0.1 points	0.1%	0.0%
Ireland	DIVB +0.1 points	0.1%	0.0%
Sweden	Same weight	0.0%	0.0%
Canada	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

DIVB32.7%
PFM32.2%

Securities held

DIVB381
PFM429

Asset class

DIVB: Equity
PFM: Equity

Holdings

Only in DIVB201
In both180
Only in PFM249

Only in DIVB

201 securities, 29.7% of DIVB by weight

Cognizant Technology Solutions Cla2.97%
Leidos Holdings1.44%
Ss and C Technologies Holdings1.37%
Skyworks Solutions1.31%
Wells Fargo1.05%
Hca Healthcare0.97%
AT&T0.80%
Citigroup0.78%
Progressive0.77%
Gen Digital0.72%
Conocophillips0.67%
Marathon Petroleum0.64%
T Mobile Us Inc0.59%
Cigna0.59%
Elevance Health Inc0.58%
Capital One Financial Corp0.50%
Eog Resources0.50%
Genpact0.43%
Truist Financial0.43%
Cvs Health0.42%
Valero Energy Corp0.41%
Becton Dickinson0.39%
Slb0.32%
Blackstone0.31%
3M0.28%
M&T Bank0.25%
Oneok0.24%
Carrier Global0.23%
Simon Property Group Reit Inc0.22%
Kinder Morgan0.21%
Williams0.21%
Universal Display Corp0.20%
Crown Castle Inc0.20%
Kenvue0.20%
Devon Energy0.19%
General Mills Inc0.19%
Kraft Heinz0.18%
Ford Motor Co0.17%
Lennar A Class A0.17%
Keurig Dr Pepper Inc0.16%
Public Storage Reit0.16%
Willis Towers Watson0.15%
Dominion Energy0.15%
Northern Trust0.14%
Otis Worldwide0.14%
Royalty Pharma PLC Class A0.13%
Yum Brands0.13%
Vivmark Residential0.13%
Viatris0.13%
Citizens Financial Group Inc0.12%

Only in PFM

249 securities, 53.3% of PFM by weight

Eli Lilly & Co4.48%
Apple Inc4.27%
Microsoft Corp4.06%
Broadcom Inc3.62%
Walmart Inc3.33%
Visa Inc2.42%
Mastercard Inc1.91%
Costco Wholesale Corp1.53%
Cisco Systems Inc1.48%
Oracle Corp1.39%
Lam Research Corp1.10%
Caterpillar Inc1.03%
Texas Instruments Inc0.99%
Goldman Sachs Group Inc/The0.93%
RTX Corp0.93%
Linde PLC0.80%
KLA Corp0.76%
Analog Devices Inc0.73%
Amphenol Corp0.70%
QUALCOMM Inc0.67%
Danaher Corp0.58%
Eaton Corp PLC0.53%
Chubb Ltd0.48%
S&P Global Inc0.47%
Stryker Corp0.41%
McKesson Corp0.39%
Equinix Inc0.35%
CSX Corp0.34%
Emerson Electric Co0.33%
Trane Technologies PLC0.33%
Waste Management Inc0.32%
Intercontinental Exchange Inc0.32%
Elevance Health Inc0.32%
Intuit Inc0.31%
Cintas Corp0.30%
Ecolab Inc0.29%
Moody's Corp0.29%
Enterprise Products Partners LP0.29%
Motorola Solutions Inc0.28%
Sherwin-Williams Co/The0.28%
Northrop Grumman Corp0.28%
Republic Services Inc0.25%
Cummins Inc0.25%
Arthur J Gallagher & Co0.24%
TE Connectivity PLC0.22%
WW Grainger Inc0.22%
Cencora Inc0.22%
Nucor Corp0.22%
Mplx Lp0.21%
Nasdaq Inc0.20%

Weight gaps

The 100 widest of 180 Holdings in both funds.

Holding weights in DIVB and PFM, widest gap first
Holding	More in DIVBMore in PFM	DIVB	PFM
Accenture PLC Class AACN	DIVB +6.01 points	6.53%	0.52%
Automatic Data Processing IncADP	DIVB +4.59 points	4.98%	0.39%
International Business Machines CoIBM	DIVB +4.34 points	5.18%	0.84%
PaychexPAYX	DIVB +1.92 points	2.06%	0.14%
Hp IncHPQ	DIVB +1.78 points	1.88%	0.10%
CdwCDW	DIVB +1.24 points	1.31%	0.07%
Microchip Technology IncMCHP	DIVB +1.07 points	1.22%	0.15%
Broadridge Financial Solutions IncBR	DIVB +0.99 points	1.06%	0.07%
JPMorgan Chase & CoJPM	PFM +0.80 points	2.36%	3.16%
PfizerPFE	DIVB +0.80 points	1.39%	0.59%
Altria Group IncMO	DIVB +0.67 points	1.11%	0.44%
Morgan StanleyMS	PFM +0.52 points	0.51%	1.03%
Jack Henry and Associates IncJKHY	DIVB +0.45 points	0.49%	0.04%
Comcast Class ACMCSA	DIVB +0.42 points	0.69%	0.27%
Procter & GamblePG	DIVB +0.40 points	1.69%	1.29%
Verizon Communications IncVZ	DIVB +0.38 points	1.01%	0.63%
Home DepotHD	PFM +0.38 points	0.76%	1.14%
PepsicoPEP	DIVB +0.36 points	0.99%	0.63%
AvnetAVT	DIVB +0.35 points	0.38%	0.03%
ChevronCVX	DIVB +0.32 points	1.90%	1.58%
Coca-ColaKO	PFM +0.30 points	1.08%	1.38%
BlackRockBLK	PFM +0.30 points	0.33%	0.63%
SouthernSO	PFM +0.27 points	0.10%	0.37%
Johnson & JohnsonJNJ	PFM +0.27 points	2.03%	2.30%
Nextera EnergyNEE	PFM +0.25 points	0.34%	0.59%
Bristol Myers SquibbBMY	DIVB +0.20 points	0.63%	0.43%
Union PacificUNP	PFM +0.19 points	0.43%	0.62%
Starbucks CorpSBUX	PFM +0.19 points	0.23%	0.42%
UnitedHealth GroupUNH	DIVB +0.18 points	1.46%	1.28%
Entergy CorpETR	PFM +0.18 points	<0.01%	0.18%
Lockheed MartinLMT	PFM +0.17 points	0.34%	0.51%
D R HortonDHI	DIVB +0.17 points	0.31%	0.14%
Mondelez International Class AMDLZ	DIVB +0.16 points	0.44%	0.28%
AbbVieABBV	DIVB +0.16 points	1.94%	1.78%
AflacAFL	DIVB +0.15 points	0.36%	0.21%
Prologis ReitPLD	PFM +0.15 points	0.27%	0.42%
General Dynamics CorpGD	PFM +0.15 points	0.20%	0.35%
United Parcel Service Inc Class BUPS	DIVB +0.14 points	0.42%	0.28%
Honeywell International IncHON	DIVB +0.14 points	0.38%	0.24%
Exxonmobil Holdings CorpXOM	DIVB +0.14 points	2.75%	2.61%
American Electric Power IncAEP	PFM +0.13 points	0.11%	0.24%
Consolidated EdisonED	PFM +0.13 points	0.02%	0.15%
FastenalFAST	PFM +0.12 points	0.09%	0.21%
Philip Morris InternationalPM	DIVB +0.13 points	1.25%	1.12%
Bank of AmericaBAC	PFM +0.12 points	1.12%	1.24%
Air Products and ChemicalsAPD	PFM +0.12 points	0.12%	0.24%
Constellation Brands Class ASTZ	DIVB +0.11 points	0.19%	0.08%
Kimberly ClarkKMB	DIVB +0.11 points	0.24%	0.13%
SempraSRE	PFM +0.11 points	0.08%	0.19%
Amgen IncAMGN	PFM +0.10 points	0.76%	0.86%
Mcdonalds CorpMCD	PFM +0.11 points	0.52%	0.63%
Ameriprise Finance IncAMP	DIVB +0.10 points	0.25%	0.15%
Travelers CompaniesTRV	DIVB +0.10 points	0.39%	0.29%
Prudential Financial IncPRU	DIVB +0.10 points	0.24%	0.14%
Duke Energy CorpDUK	PFM +0.09 points	0.25%	0.34%
Merck & Co IncMRK	DIVB +0.09 points	1.34%	1.25%
Medtronic PLCMDT	DIVB +0.09 points	0.52%	0.43%
MetlifeMET	DIVB +0.09 points	0.31%	0.22%
SyscoSYY	DIVB +0.08 points	0.22%	0.14%
AmerenAEE	PFM +0.08 points	0.03%	0.11%
Gilead SciencesGILD	DIVB +0.07 points	0.78%	0.71%
Wec Energy GroupWEC	PFM +0.07 points	0.06%	0.13%
NisourceNI	PFM +0.06 points	<0.01%	0.07%
CloroxCLX	DIVB +0.06 points	0.10%	0.04%
Target CorpTGT	DIVB +0.06 points	0.30%	0.24%
Hartford Insurance GroupHIG	DIVB +0.06 points	0.19%	0.13%
American Water WorksAWK	PFM +0.07 points	0.03%	0.10%
Cms EnergyCMS	PFM +0.06 points	0.01%	0.07%
Cme Group Class ACME	DIVB +0.06 points	0.43%	0.37%
Lowes Companies IncLOW	PFM +0.06 points	0.34%	0.40%
T Rowe Price GroupTROW	DIVB +0.06 points	0.14%	0.08%
UnumUNM	DIVB +0.06 points	0.11%	0.05%
Realty Income ReitO	PFM +0.06 points	0.13%	0.19%
Booz Allen Hamilton Holding ClassBAH	DIVB +0.05 points	0.08%	0.03%
Regions FinancialRF	DIVB +0.04 points	0.13%	0.09%
Principal Financial Group IncPFG	DIVB +0.05 points	0.13%	0.08%
Phillips 66PSX	PFM +0.05 points	0.33%	0.38%
Tyson Foods Inc Class ATSN	DIVB +0.05 points	0.10%	0.05%
Nike Class BNKE	DIVB +0.04 points	0.20%	0.16%
Eversource EnergyES	PFM +0.04 points	0.05%	0.09%
Colgate-PalmoliveCL	DIVB +0.04 points	0.30%	0.26%
MascoMAS	DIVB +0.03 points	0.09%	0.06%
Us BancorpUSB	PFM +0.04 points	0.29%	0.33%
Abbott LaboratoriesABT	DIVB +0.03 points	0.66%	0.63%
Edison InternationalEIX	DIVB +0.03 points	0.11%	0.08%
American Tower ReitAMT	PFM +0.03 points	0.27%	0.30%
Public Service Enterprise GroupPEG	PFM +0.03 points	0.10%	0.13%
AptargroupATR	DIVB +0.03 points	0.06%	0.03%
Dte EnergyDTE	PFM +0.03 points	0.07%	0.10%
Erie Indemnity Class AERIE	PFM +0.03 points	0.01%	0.04%
Owens CorningOC	DIVB +0.03 points	0.06%	0.03%
Archer Daniels MidlandADM	PFM +0.03 points	0.10%	0.13%
Pinnacle WestPNW	PFM +0.02 points	0.02%	0.04%
Reinsurance Group of AmericaRGA	PFM +0.02 points	0.04%	0.06%
Alliant Energy CorpLNT	PFM +0.02 points	0.04%	0.06%
Westlake CorpWLK	PFM +0.02 points	<0.01%	0.03%
PrimericaPRI	DIVB +0.02 points	0.05%	0.03%
Bank of New York Mellon CorpBNY	DIVB +0.02 points	0.37%	0.35%
Ingredion IncINGR	DIVB +0.02 points	0.04%	0.02%
Nexstar Media Group IncNXST	DIVB +0.02 points	0.04%	0.02%

All 381 DIVB holdings⁠All 429 PFM 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.

DIVB vs PFM Cost

Overpaying PFM vs DIVB

$9,291

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

DIVB 0.05%
$1,060
PFM 0.52%
$10,351

Amount$10,000

Years30 years

Cost over time

DIVB 0.05%
PFM 0.52%
Overpaying

Year by year

Year	DIVB	PFM	Overpaying
10	$92	$935	$843
20	$360	$3,593	$3,233
30	$1,060	$10,351	$9,291

Expense ratio

0.05%DIVB, cheaper
0.52%PFM

DIVB0.05%PFM0.52%

0.04%0.70%

Middle half of US Dividend Index funds
Median 0.35%

DIVB 2nd cheapest of 52 funds

PFM 43rd cheapest of 52 funds

DIVB vs PFM Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DIVB 2.08%, better; PFM 1.29%
Payout (12M): DIVB $1.48; PFM $0.75
Last payment: DIVB $0.42; PFM $0.18
Ex-dividend: DIVB Sep 15, 2026; PFM Sep 21, 2026
Paid on: DIVB Sep 18, 2026; PFM Sep 25, 2026
Frequency: DIVB Quarterly; PFM Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

DIVBQuarterly · 36 paymentsAll DIVB payments⁠

PFMQuarterly · 39 paymentsAll PFM payments⁠

DIVB vs PFM Risk

Fall from peak · 5 years

DIVB
PFM

Risk facts

VolatilityStd dev, 3 years: DIVB 14.0%PFM 10.5%, better
Return per unit of riskSharpe ratio, 3 years: DIVB 1.58, betterPFM 1.33
Worst fallMax drawdown, 5 years: DIVB −21.1%PFM −17.8%, better
Market sensitivityBeta, 5 years: DIVB 0.88PFM 0.78; Market = 1

DIVB and PFM 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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DIVB vs PFM

In short

Stated mandate

Why people hold it

Worth knowing

How DIVB and PFM differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DIVB

Only in PFM

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 DIVB and PFM differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DIVB

Only in PFM

Weight gaps