DIVB vs QDEF: Grades, Fees and Holdings Compared

iShares Core Dividend ETF

DIVBACboe

Northern Trust Quality Dividend Defensive ETF

QDEFCNYSE Arca

Overlap

23.8%by weight

Expense ratio

DIVB −0.34pt a year

DIVB0.05%QDEF0.39%

Avg volume · 30D

DIVB 43.8×the volume

DIVB298KQDEF6.81K

5Y return · a year

DIVB +2.1pt

DIVB+14.5%QDEF+12.4%

DIVB vs QDEF Performance

Oct 29, 2021 – Oct 30, 2026

+96.4%DIVB+79.3%QDEF

Expense ratio: DIVB 0.05%, better; QDEF 0.39%
Fund size: DIVB $2.31B; QDEF $551M
1Y total return: DIVB +40.7%, better; QDEF +15.1%
Yield (12M): DIVB 2.08%, better; QDEF 1.57%
Holdings: DIVB 384; QDEF 157
Avg volume (30D): DIVB 298K sh, better; QDEF 6.81K sh
NAV per share: DIVB $71.28; QDEF $90.71
52W range

ETF.net Grade

Pillar letters and Scores for DIVB, QDEF, with each pillar’s weight
Pillar	DIVB	QDEF
Cost30% weight	A95Higher	D36
Mission25% weight	A86Higher	B66
Risk15% weight	A74Higher	A70
Tradability15% weight	B64Higher	C43
Holdings10% weight	B60Higher	C44
Durability5% weight	A71Higher	B57

Rank among US Dividend Index funds

How we build Categories ›

Same Category. DIVB and QDEF 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 QDEF 32nd 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 30CPFMInvesco Dividend Achievers ETFScore 52
Rank 32CQDEFNorthern Trust Quality Dividend Defensive ETFScore 51
Rank 32CRDIVInvesco S&P Ultra Dividend Revenue ETFScore 51

Our read on each fund

ETF.net Research

DIVBAiShares Core Dividend ETF

QDEFCNorthern Trust Quality Dividend Defensive 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.

QDEF Most dividend funds screen for yield and hope the ride stays smooth. QDEF's index engineers it: quality and payout screens first, then a portfolio beta targeted at 0.5 to 1.0 times its Northern Trust parent index.

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.

QDEF The fund provides exposure to a high-quality, income-oriented portfolio of long-only U.S. equity securities, emphasizing long-term capital growth and a defensive beta relative to its parent 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.

QDEF The defensive part is a rule, not a vibe: the index targets overall beta of 0.5 to 1.0 times the Northern Trust 1250 parent index, so the tilt is built into construction.flexshares.com
Yield alone does not get a stock in. Profitability and quality screens sit alongside the payout test, sector by sector, across roughly 160 US holdings. Pays quarterly.flexshares.com
Listed in December 2012, so the index and the fund have run through several market cycles, built and maintained by Northern Trust's own index desk.

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.

QDEF Costs 0.39% net of a waiver through March 1, 2027 (0.40% gross), near the category median. Index staples like SCHD at 0.06% and VIG at 0.04% run a fraction of that.
It trades lightly next to the category's giants, so spreads can be wider and patient limit orders are the norm.
The fund uses representative sampling rather than holding every index name, which FlexShares flags as a source of tracking risk.flexshares.com

Full DIVB profile⁠

Full QDEF profile⁠

DIVB vs QDEF Holdings

How DIVB and QDEF differ

Overlap by weight

23.8%

Shared holdings make up 44.7% of QDEF and 42.9% of DIVB.

Level by level

Holdings89 in both23.8%
Countryby domicile99.3%
Asset classEquity100%

Sector

No Sector split for DIVB.

Country, concentration and asset class

Country by domicile

Country weights in DIVB and QDEF, widest gap first
Country	More in DIVBMore in QDEF	DIVB	QDEF
Canada	QDEF +0.6 points	0.0%	0.6%
United States	DIVB +0.5 points	99.4%	98.8%
Other countries (4)	DIVB +0.1 points	0.6%	0.5%

Concentration

Weight in the 10 largest Holdings

DIVB32.7%
QDEF35.2%

Securities held

DIVB381
QDEF153

Asset class

DIVB: Equity
QDEF: Equity

Holdings

Only in DIVB292
In both89
Only in QDEF64

Only in DIVB

292 securities, 56.9% of DIVB by weight

Accenture PLC Class A6.53%
International Business Machines Co5.18%
Paychex2.06%
Chevron1.90%
Hp Inc1.88%
Leidos Holdings1.44%
Pfizer1.39%
Ss and C Technologies Holdings1.37%
Cdw1.31%
Skyworks Solutions1.31%
Microchip Technology Inc1.22%
Verizon Communications Inc1.01%
Pepsico0.99%
Hca Healthcare0.97%
AT&T0.80%
Progressive0.77%
Home Depot0.76%
Abbott Laboratories0.66%
Elevance Health Inc0.58%
Mcdonalds Corp0.52%
Medtronic PLC0.52%
Capital One Financial Corp0.50%
Eog Resources0.50%
Jack Henry and Associates Inc0.49%
Mondelez International Class A0.44%
Union Pacific0.43%
Cme Group Class A0.43%
United Parcel Service Inc Class B0.42%
Cvs Health0.42%
Becton Dickinson0.39%
Travelers Companies0.39%
Honeywell International Inc0.38%
Avnet0.38%
Bank of New York Mellon Corp0.37%
Lowes Companies Inc0.34%
Nextera Energy0.34%
Phillips 660.33%
BlackRock0.33%
Pnc Financial Services Group0.33%
Slb0.32%
D R Horton0.31%
Blackstone0.31%
Marsh0.31%
Target Corp0.30%
3M0.28%
Prologis Reit0.27%
American Tower Reit0.27%
Ameriprise Finance Inc0.25%
M&T Bank0.25%
Oneok0.24%

Only in QDEF

64 securities, 53.1% of QDEF by weight

Apple Inc Common Stock USD 0.000019.09%
NVIDIA Corp Common Stock USD 0.0016.38%
Microsoft Corp Common Stock USD 0.000006254.51%
Broadcom Inc Common Stock USD2.46%
Eli Lilly and Company2.23%
Alphabet Inc-Cl A - Common Stock USD 0.0011.89%
Alphabet Inc-Cl C - Common Stock USD 0.0011.52%
Kla Corp Common Stock USD 0.0011.42%
Micron Technology Inc Common Stock USD 0.11.35%
Meta Platforms Inc Common Stock USD 0.0000061.31%
Qualcomm Inc Common Stock USD 0.00011.19%
Lam Research Corp Common Stock USD 0.0011.08%
Tjx Cos Inc/The Common Stock USD 11.06%
Cisco Systems Inc Common Stock USD 0.0011.03%
Ge Vernova Inc Common Stock USD 0.010.82%
Newmont Corp Common Stock USD 1.60.77%
Accenture PLC Common Stock USD 0.00002250.73%
Trane Technologies PLC Common Stock USD 10.63%
Paycom Software Inc Common Stock USD 0.010.60%
Ebay Inc Common Stock USD 0.0010.58%
Agnico Eagle Mines Ltd Common Stock Cad 00.56%
International Seaways Inc Common Stock USD 00.56%
Intuit Inc Common Stock USD 0.010.55%
Expeditors International of Washington Inc Common0.55%
Regeneron Pharmaceuticals Inc Common Stock USD0.53%
H&R Block Inc Common Stock USD 00.50%
Booking Holdings Inc Common Stock USD 0.0080.48%
Globe Life Inc Common Stock USD 10.48%
Molson Coors Beverage Co Common Stock USD 0.010.48%
New York Times Co/The Common Stock USD 0.10.44%
Amdocs Ltd0.42%
Visa Inc Common Stock USD 0.00010.41%
Newmarket Corp Common Stock USD 00.41%
Resmed Inc Common Stock USD 0.0040.39%
Tapestry Inc Common Stock USD 0.010.38%
Western Digital Corp Common Stock USD 0.010.37%
Expedia Group Inc Common Stock USD 0.0010.36%
Mckesson Corp Common Stock USD 0.010.35%
Carlisle Cos Inc Common Stock USD 10.34%
Ch Robinson Worldwide Inc Common Stock USD 0.10.34%
Landstar System Inc Common Stock USD 0.010.31%
Zoetis Inc Common Stock USD 0.010.29%
Pegasystems Inc Common Stock USD 0.010.28%
Argan Inc Common Stock USD 0.150.27%
Ul Solutions Inc Common Stock USD 0.0010.24%
Cheniere Energy Inc Common Stock USD 0.0030.22%
Costco Wholesale Corp Common Stock USD 0.0050.18%
Mastercard Inc Common Stock USD 0.00010.17%
American International Group Inc Common Stock USD0.16%
Range Resources Corp Common Stock USD 0.010.15%

Weight gaps

All 89 Holdings in both funds, largest gap first.

Holding weights in DIVB and QDEF, widest gap first
Holding	More in DIVBMore in QDEF	DIVB	QDEF
Automatic Data Processing IncADP	DIVB +4.17 points	4.98%	0.81%
Cognizant Technology Solutions ClaCTSH	DIVB +2.40 points	2.97%	0.57%
Exxonmobil Holdings CorpXOM	DIVB +2.20 points	2.75%	0.55%
UnitedHealth GroupUNH	DIVB +1.44 points	1.46%	0.02%
Merck & Co IncMRK	DIVB +1.32 points	1.34%	0.02%
Coca-ColaKO	DIVB +1.06 points	1.08%	0.02%
Bank of AmericaBAC	DIVB +1.05 points	1.12%	0.07%
Philip Morris InternationalPM	QDEF +0.98 points	1.25%	2.23%
Broadridge Financial Solutions IncBR	DIVB +0.87 points	1.06%	0.19%
Johnson & JohnsonJNJ	QDEF +0.85 points	2.03%	2.88%
AbbVieABBV	DIVB +0.68 points	1.94%	1.26%
Procter & GamblePG	DIVB +0.62 points	1.69%	1.07%
Gilead SciencesGILD	QDEF +0.60 points	0.78%	1.38%
Gen DigitalGEN	DIVB +0.59 points	0.72%	0.13%
HasbroHAS	QDEF +0.58 points	0.04%	0.62%
Consolidated EdisonED	QDEF +0.58 points	0.02%	0.59%
Lockheed MartinLMT	QDEF +0.58 points	0.34%	0.92%
ApaAPA	QDEF +0.57 points	0.06%	0.63%
CitigroupC	DIVB +0.53 points	0.78%	0.25%
Pbf Energy Class APBF	QDEF +0.52 points	0.01%	0.53%
Booz Allen Hamilton Holding ClassBAH	QDEF +0.49 points	0.08%	0.57%
East West BancorpEWBC	QDEF +0.47 points	0.05%	0.52%
Chord EnergyCHRD	QDEF +0.46 points	0.07%	0.53%
Best BuyBBY	QDEF +0.46 points	0.09%	0.55%
Cullen Frost BankersCFR	QDEF +0.46 points	0.03%	0.49%
Federal Realty Investment Trust ReFRT	QDEF +0.45 points	0.02%	0.47%
Dte EnergyDTE	QDEF +0.45 points	0.07%	0.52%
Match Group IncMTCH	QDEF +0.44 points	0.09%	0.53%
Kite Realty Group Trust ReitKRG	QDEF +0.45 points	0.03%	0.48%
Commerce BancsharesCBSH	QDEF +0.44 points	0.03%	0.47%
Public Service Enterprise GroupPEG	QDEF +0.44 points	0.10%	0.54%
Gaming and Leisure Properties ReitGLPI	QDEF +0.44 points	0.03%	0.47%
Duke Energy CorpDUK	QDEF +0.43 points	0.25%	0.68%
Cf Industries Holdings IncCF	QDEF +0.43 points	0.11%	0.54%
Expand EnergyEXE	QDEF +0.42 points	0.07%	0.49%
Public Storage ReitPSA	QDEF +0.41 points	0.16%	0.57%
MosaicMOS	QDEF +0.40 points	0.02%	0.42%
AesAES	QDEF +0.39 points	0.04%	0.43%
T Mobile Us IncTMUS	DIVB +0.39 points	0.59%	0.20%
Vici Pptys IncVICI	QDEF +0.38 points	0.11%	0.49%
Camden Property Trust ReitCPT	QDEF +0.38 points	0.06%	0.44%
ToroTTC	QDEF +0.38 points	0.05%	0.43%
JPMorgan Chase & CoJPM	DIVB +0.38 points	2.36%	1.98%
Valero Energy CorpVLO	QDEF +0.37 points	0.41%	0.78%
Onemain HoldingsOMF	QDEF +0.35 points	0.05%	0.40%
Lkq CorpLKQ	QDEF +0.33 points	0.03%	0.36%
Colgate-PalmoliveCL	QDEF +0.32 points	0.30%	0.62%
Edison InternationalEIX	QDEF +0.32 points	0.11%	0.43%
Kraft HeinzKHC	QDEF +0.32 points	0.18%	0.50%
Las Vegas SandsLVS	QDEF +0.31 points	0.09%	0.40%
Avery Dennison CorpAVY	QDEF +0.31 points	0.07%	0.38%
Equity Lifestyle Properties Reit IELS	QDEF +0.31 points	0.03%	0.34%
MetlifeMET	QDEF +0.29 points	0.31%	0.60%
Prudential Financial IncPRU	QDEF +0.28 points	0.24%	0.52%
Illinois Tool IncITW	QDEF +0.28 points	0.27%	0.55%
Hershey FoodsHSY	QDEF +0.26 points	0.12%	0.38%
Kimberly ClarkKMB	QDEF +0.26 points	0.24%	0.50%
Truist FinancialTFC	DIVB +0.25 points	0.43%	0.18%
Bristol Myers SquibbBMY	QDEF +0.24 points	0.63%	0.87%
Dominos PizzaDPZ	QDEF +0.23 points	0.03%	0.26%
Altria Group IncMO	DIVB +0.22 points	1.11%	0.89%
Hf SinclairDINO	QDEF +0.21 points	0.06%	0.27%
Wells FargoWFC	DIVB +0.21 points	1.05%	0.84%
Starbucks CorpSBUX	DIVB +0.21 points	0.23%	0.02%
AflacAFL	DIVB +0.18 points	0.36%	0.18%
Morgan StanleyMS	QDEF +0.17 points	0.51%	0.68%
Marathon PetroleumMPC	QDEF +0.16 points	0.64%	0.80%
Cubesmart ReitCUBE	QDEF +0.14 points	0.04%	0.18%
Host Hotels & Resorts ReitHST	QDEF +0.14 points	0.06%	0.20%
Comcast Class ACMCSA	DIVB +0.13 points	0.69%	0.56%
ConocophillipsCOP	DIVB +0.13 points	0.67%	0.54%
Factset Research SystemsFDS	QDEF +0.11 points	0.06%	0.17%
GenpactG	QDEF +0.12 points	0.43%	0.55%
FastenalFAST	QDEF +0.09 points	0.09%	0.18%
MascoMAS	QDEF +0.09 points	0.09%	0.18%
Prosperity BancsharesPB	QDEF +0.08 points	0.03%	0.11%
Regency Centers Reit CorpREG	QDEF +0.08 points	0.03%	0.11%
EvergyEVRG	QDEF +0.08 points	0.05%	0.13%
Brixmor Property Group Reit IncBRX	QDEF +0.07 points	0.02%	0.09%
Starwood Property Trust Reit IncSTWD	QDEF +0.07 points	0.01%	0.08%
CignaCI	QDEF +0.05 points	0.59%	0.64%
American Homes Rent Reit Class AAMH	QDEF +0.04 points	0.04%	0.08%
Yum BrandsYUM	QDEF +0.03 points	0.13%	0.16%
Amgen IncAMGN	DIVB +0.03 points	0.76%	0.73%
Us BancorpUSB	DIVB +0.02 points	0.29%	0.27%
UnumUNM	QDEF +0.01 points	0.11%	0.12%
CloroxCLX	DIVB +0.01 points	0.10%	0.09%
Devon EnergyDVN	Same weight	0.19%	0.19%
Southern Copper CorpSCCO	DIVB +0.01 points	0.03%	0.02%

All 381 DIVB holdings⁠All 157 QDEF 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 QDEF Cost

Overpaying QDEF vs DIVB

$6,838

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

DIVB 0.05%
$1,060
QDEF 0.39%
$7,898

Amount$10,000

Years30 years

Cost over time

DIVB 0.05%
QDEF 0.39%
Overpaying

Year by year

Year	DIVB	QDEF	Overpaying
10	$92	$705	$613
20	$360	$2,725	$2,365
30	$1,060	$7,898	$6,838

Expense ratio

0.05%DIVB, cheaper
0.39%QDEF

DIVB0.05%QDEF0.39%

0.04%0.70%

Middle half of US Dividend Index funds
Median 0.35%

DIVB 2nd cheapest of 52 funds

QDEF 32nd cheapest of 52 funds

DIVB vs QDEF Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DIVB 2.08%, better; QDEF 1.57%
Payout (12M): DIVB $1.48; QDEF $1.42
Last payment: DIVB $0.42; QDEF $0.34
Ex-dividend: DIVB Sep 15, 2026; QDEF Sep 18, 2026
Paid on: DIVB Sep 18, 2026; QDEF Sep 24, 2026
Frequency: DIVB Quarterly; QDEF Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

DIVBQuarterly · 36 paymentsAll DIVB payments⁠

QDEFQuarterly · 39 paymentsAll QDEF payments⁠

DIVB vs QDEF Risk

Fall from peak · 5 years

DIVB
QDEF

Risk facts

VolatilityStd dev, 3 years: DIVB 14.0%QDEF 9.9%, better
Return per unit of riskSharpe ratio, 3 years: DIVB 1.58QDEF 1.59, better
Worst fallMax drawdown, 5 years: DIVB −21.1%, betterQDEF −21.4%
Market sensitivityBeta, 5 years: DIVB 0.88QDEF 0.83; Market = 1

DIVB and QDEF in the news

All news⁠

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

Popular comparisons

DIVBAvsDGROA
iShares Core Dividend ETF · iShares Core Dividend Growth ETF
Expense ratio
0.05% · 0.08%
Category
QDEFCvsDGROA
Northern Trust Quality Dividend Defensive ETF · iShares Core Dividend Growth ETF
Expense ratio
0.39% · 0.08%
Category
DIVBAvsSCHDA
iShares Core Dividend ETF · Schwab U.S. Dividend Equity ETF
Expense ratio
0.05% · 0.06%
Category
QDEFCvsSCHDA
Northern Trust Quality Dividend Defensive ETF · Schwab U.S. Dividend Equity ETF
Expense ratio
0.39% · 0.06%
Category
DIVBAvsSPYDA
iShares Core Dividend ETF · State Street SPDR Portfolio S&P 500 High Dividend ETF
Expense ratio
0.05% · 0.07%
Category
QDEFCvsSPYDA
Northern Trust Quality Dividend Defensive ETF · State Street SPDR Portfolio S&P 500 High Dividend ETF
Expense ratio
0.39% · 0.07%
Category

DIVB vs QDEF

In short

Stated mandate

Why people hold it

Worth knowing

How DIVB and QDEF differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DIVB

Only in QDEF

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 QDEF differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DIVB

Only in QDEF

Weight gaps