DIVG vs SPYD: Grades, Fees and Holdings Compared

Invesco S&P 500 High Dividend Growers ETF

DIVGBNYSE Arca

State Street SPDR Portfolio S&P 500 High Dividend ETF

SPYDANYSE Arca

Overlap

32.5%by weight

Expense ratio

SPYD −0.32pt a year

DIVG0.39%SPYD0.07%

Avg volume · 30D

SPYD 652.7×the volume

DIVG1.59KSPYD1.04M

DIVG vs SPYD Performance

Nov 7, 2025 – Nov 9, 2026

+25.0%DIVG+22.3%SPYD

Expense ratio: DIVG 0.39%; SPYD 0.07%, better
Fund size: DIVG $12M; SPYD $7.7B
1Y total return: DIVG +25.0%, better; SPYD +22.3%
Yield (12M): DIVG 2.92%; SPYD 4.12%, better
Holdings: DIVG 103; SPYD 78
Avg volume (30D): DIVG 1.59K sh; SPYD 1.04M sh, better
NAV per share: DIVG $38.27; SPYD $49.39
52W range

ETF.net Grade

Pillar letters and Scores for DIVG, SPYD, with each pillar’s weight
Pillar	DIVG	SPYD
Cost30% weight	D36	A88Higher
Mission25% weight	A94Higher	A88
Risk15% weight	B68Higher	C46
Tradability15% weight	D37	A91Higher
Holdings10% weight	A72	A73Higher
Durability5% weight	F23	A83Higher

Rank among US Dividend Index funds

How we build Categories ›

Same Category. DIVG and SPYD 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 ›

SPYD ranks 3rd and DIVG 26th 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 3ASPYDState Street SPDR Portfolio S&P 500 High Dividend ETFScore 80
Rank 4ADIVBiShares Core Dividend ETFScore 79
Rank 25BQDIVGlobal X S&P 500 Quality Dividend ETFScore 59
Rank 26BDIVGInvesco S&P 500 High Dividend Growers ETFScore 58
Rank 27BCSBVictoryShares US Small Cap High Div Volatility Wtd ETFScore 57

Our read on each fund

ETF.net Research

DIVGBInvesco S&P 500 High Dividend Growers ETF

SPYDAState Street SPDR Portfolio S&P 500 High Dividend ETF

In short

DIVG Most yield funds grab today's biggest payouts. DIVG works the other side of the trade: an S&P 500 screen built around dividend growth, roughly 100 names, and a check every month.

SPYD Most dividend ETFs hunt for companies that keep raising payouts. SPYD skips the courtship and goes straight for the yield: roughly 80 high-dividend names out of the S&P 500, for 0.07% a year.

Stated mandate

DIVG DIVG seeks to track the S&P 500 High Dividend Growth Index before fees and expenses.

SPYD The fund seeks to provide returns that generally correspond to the total return of the S&P 500 High Dividend Index before fees and expenses.

Why people hold it

DIVG The mandate is narrow and literal: track the S&P 500 High Dividend Growth Index. No manager discretion, no drifting into whatever sector is hot this quarter.invesco.com
Distributions land monthly, not quarterly, so income arrives on a twelve-times-a-year rhythm.
Roughly 100 holdings, all drawn from the S&P 500. Familiar large-cap ground, spread wide enough that no single name carries the fund.
Sits in the upper half of a crowded dividend-screen peer group of roughly fifty funds.

SPYD 0.07% a year against a 0.39% median across dividend-screen peers. It undercuts DGRO's 0.08% and sits a hair above SCHD.
A pure yield screen, not a growth screen. Where VIG and DGRO buy payout raisers, SPYD takes the high-dividend end of the S&P 500. Different flavor of the same food group.
Running since 2015, now a multi-billion-dollar fund and one of the more actively traded names in its cohort, so getting in and out is rarely the hard part.
Pays quarterly and has tracked the S&P 500 High Dividend Index closely, which is the whole job for a fund like this.

Worth knowing

DIVG The 0.39% fee is the going rate for a dividend screen, but a real step up from the mega-cap dividend-growth funds (VIG, SCHD, DGRO), which charge a fraction of that.
Small and thinly traded, which usually means wider bid-ask spreads than the household-name dividend ETFs.
Launched in December 2023, so the live record is short and the fund has yet to prove it can build a durable asset base.

SPYD About 80 stocks is a narrow slice. Screening on yield pulls the sector mix away from the broad S&P 500, and the ride can be bumpier than the index it comes from.
A high yield is a ranking, not a promise. The index sorts on payout size, not on how reliably a company has grown or defended that payout.

Full DIVG profile⁠

Full SPYD profile⁠

DIVG vs SPYD Holdings

How DIVG and SPYD differ

Overlap by weight

32.5%

Shared holdings make up 41.7% of DIVG and 33.8% of SPYD.

Level by level

Holdings26 in both32.5%
Sector11 Sectors75.0%
Countryby domicile97.3%
Asset classStocks100%

Sector

Sector weights in DIVG and SPYD, widest gap first
Sector	Gap	DIVG	SPYD
Real Estate	SPYD +12.2 points	12.9%	25.1%
Financials	DIVG +11.0 points	24.3%	13.3%
Materials	SPYD +6.6 points	1.0%	7.6%
Utilities	DIVG +5.7 points	16.8%	11.1%
Technology	DIVG +5.7 points	9.6%	3.9%
Consumer Staples	SPYD +2.1 points	11.1%	13.2%
Energy	DIVG +2.1 points	7.2%	5.1%
Communication	SPYD +2.0 points	3.3%	5.3%
Industrials	SPYD +1.3 points	4.2%	5.5%
Health Care	SPYD +0.8 points	3.7%	4.5%
Consumer Discretionary	DIVG +0.5 points	6.0%	5.5%

Country, concentration and asset class

Country by domicile

Country weights in DIVG and SPYD, widest gap first
Country	Gap	DIVG	SPYD
United States	DIVG +1.7 points	99.0%	97.3%
United Kingdom	SPYD +1.4 points	0.0%	1.4%
Ireland	SPYD +1.3 points	0.0%	1.3%
Switzerland	DIVG +0.5 points	0.5%	0.0%
China	DIVG +0.5 points	0.5%	0.0%

Concentration

Weight in the 10 largest Holdings

DIVG19.3%
SPYD16.3%

Securities held

DIVG102
SPYD77

Asset class

DIVG: Stocks
SPYD: Stocks

Holdings

Only in DIVG76
In both26
Only in SPYD51

Only in DIVG

76 securities, 58.1% of DIVG by weight

Brown-Forman Corp1.39%
WEC Energy Group Inc1.33%
Public Service Enterprise Group Inc1.22%
CMS Energy Corp1.19%
Alliant Energy Corp1.17%
Xcel Energy Inc1.15%
NextEra Energy Inc1.15%
PNC Financial Services Group Inc/The1.15%
Darden Restaurants Inc1.14%
SBA Communications Corp1.11%
Fifth Third Bancorp1.08%
Zoetis Inc1.07%
NiSource Inc1.06%
Otis Worldwide Corp1.04%
Ameren Corp1.04%
Philip Morris International Inc1.04%
American Water Works Co Inc1.01%
Prologis Inc1.00%
Automatic Data Processing Inc0.98%
Broadridge Financial Solutions Inc0.96%
Rollins Inc0.95%
Principal Financial Group Inc0.94%
Kroger Co/The0.94%
Lennar Corp0.93%
Iron Mountain Inc0.93%
Citizens Financial Group Inc0.91%
Abbott Laboratories0.91%
Snap-on Inc0.91%
AbbVie Inc0.89%
M&T Bank Corp0.89%
ConocoPhillips0.89%
Atmos Energy Corp0.88%
Illinois Tool Works Inc0.87%
Packaging Corp of America0.85%
American International Group Inc0.85%
Williams Cos Inc/The0.85%
Marsh & McLennan Cos Inc0.85%
Cincinnati Financial Corp0.84%
Amgen Inc0.83%
Cognizant Technology Solutions Corp0.83%
Avery Dennison Corp0.80%
Devon Energy Corp0.76%
Diamondback Energy Inc0.74%
Hartford Insurance Group Inc/The0.72%
Morgan Stanley0.71%
Intuit Inc0.71%
Fastenal Co0.69%
Bank of America Corp0.66%
Goldman Sachs Group Inc/The0.66%
CF Industries Holdings Inc0.65%

Only in SPYD

51 securities, 66.0% of SPYD by weight

Hasbro Inc1.73%
Stanley Black & Decker Inc1.66%
Medtronic PLC1.61%
Pfizer Inc1.53%
Target Corp1.48%
Best Buy Co Inc1.48%
Crown Castle Inc1.48%
American Tower Corp1.47%
Hp Inc1.46%
Jm Smucker Co/The1.43%
Chevron Corp1.42%
Extra Space Storage Inc1.42%
Public Storage1.40%
Clorox Company1.35%
Franklin Templeton Inc1.35%
Amcor PLC1.34%
Comcast Corp Class A1.34%
Bristol Myers Squibb Co1.32%
Simon Property Group Inc1.30%
Host Hotels & Resorts Inc1.30%
Dow Inc1.30%
Duke Energy Corp1.29%
Kimberly Clark Corp1.29%
Smurfit Westrock PLC1.28%
Mosaic Co/The1.27%
Pinnacle West Capital1.26%
Exelon Corp1.26%
Lyondellbasell Indu Class A1.26%
Blackstone Inc1.25%
Dominion Energy Inc1.25%
Bxp Inc1.25%
Vivmark Residential1.24%
Kraft Heinz Co/The1.23%
Honeywell International Inc1.22%
At+t Inc1.21%
United Parcel Service Class B1.21%
T Rowe Price Group Inc1.20%
Udr Inc1.19%
Kinder Morgan Inc1.19%
Us Bancorp1.19%
Nike Inc Class B1.18%
Healthpeak Properties Inc1.18%
Realty Income Corp1.17%
International Paper Co1.17%
Mid America Apartment Comm1.17%
Alexandria Real Estate Equit1.16%
Federal Realty Invs Trust1.16%
Hormel Foods Corp1.12%
Ford Motor Co1.11%
Edison International0.95%

Weight gaps

All 26 Holdings in both funds, largest gap first.

Holding weights in DIVG and SPYD, widest gap first
Holding	Gap	DIVG	SPYD
VICI Properties IncVICI	DIVG +1.43 points	2.63%	1.20%
General Mills IncGIS	DIVG +1.33 points	2.57%	1.24%
Accenture PLCACN	SPYD +0.86 points	1.54%	2.40%
Altria Group IncMO	DIVG +0.80 points	2.16%	1.36%
Verizon Communications IncVZ	DIVG +0.53 points	1.86%	1.33%
Kimco Realty CorpKIM	DIVG +0.49 points	1.75%	1.26%
Eversource EnergyES	DIVG +0.43 points	1.64%	1.21%
Invitation Homes IncINVH	DIVG +0.38 points	1.56%	1.18%
Paychex IncPAYX	DIVG +0.36 points	1.73%	1.37%
EOG Resources IncEOG	SPYD +0.35 points	0.97%	1.32%
McCormick & Co Inc/MDMKC	DIVG +0.31 points	1.51%	1.20%
KeyCorpKEY	DIVG +0.30 points	1.46%	1.16%
Truist Financial CorpTFC	DIVG +0.30 points	1.53%	1.23%
Prudential Financial IncPRU	DIVG +0.29 points	1.59%	1.30%
PepsiCo IncPEP	DIVG +0.29 points	1.64%	1.35%
ONEOK IncOKE	DIVG +0.27 points	1.47%	1.20%
Ares Management CorpARES	DIVG +0.27 points	1.72%	1.45%
Camden Property TrustCPT	DIVG +0.27 points	1.41%	1.14%
Regions Financial CorpRF	DIVG +0.23 points	1.41%	1.18%
Huntington Bancshares Inc/OHHBAN	DIVG +0.22 points	1.31%	1.09%
Regency Centers CorpREG	DIVG +0.20 points	1.37%	1.17%
AES Corp/TheAES	DIVG +0.20 points	1.49%	1.29%
Omnicom Group IncOMC	DIVG +0.17 points	1.58%	1.41%
FirstEnergy CorpFE	DIVG +0.15 points	1.37%	1.22%
Evergy IncEVRG	SPYD +0.10 points	1.21%	1.31%
Essex Property Trust IncESS	DIVG +0.04 points	1.24%	1.20%

All 101 DIVG holdings⁠All 77 SPYD 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.

DIVG vs SPYD Cost

Overpaying DIVG vs SPYD

$6,418

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

DIVG 0.39%
$7,898
SPYD 0.07%
$1,480

Amount$10,000

Years30 years

Cost over time

DIVG 0.39%
SPYD 0.07%
Overpaying

Year by year

Year	DIVG	SPYD	Overpaying
10	$705	$128	$577
20	$2,725	$503	$2,222
30	$7,898	$1,480	$6,418

Expense ratio

0.39%DIVG
0.07%SPYD, cheaper

SPYD0.07%DIVG0.39%

0.04%0.70%

Middle half of US Dividend Index funds
Median 0.35%

SPYD 6th cheapest of 52 funds

DIVG 32nd cheapest of 52 funds

DIVG vs SPYD Dividends

Last 12 months to Nov 9, 2026

Yield (12M): DIVG 2.92%; SPYD 4.12%, better
Payout (12M): DIVG $1.13; SPYD $2.06
Last payment: DIVG $0.09; SPYD $0.52
Ex-dividend: DIVG Oct 19, 2026; SPYD Sep 21, 2026
Paid on: DIVG Oct 23, 2026; SPYD Sep 23, 2026
Frequency: DIVG Monthly; SPYD Quarterly

Distribution history

Per share, 2023 to 2026, same scale for both

DIVGMonthly · 33 paymentsAll DIVG payments⁠

SPYDQuarterly · 15 paymentsAll SPYD payments⁠

DIVG vs SPYD Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: DIVG 12.0%since Jan 2024SPYD 14.5%
Return per unit of riskSharpe ratio, 3 years: DIVG 1.01since Jan 2024SPYD 0.96
Worst fallMax drawdown, 5 years: DIVG −15.0%since Dec 2023SPYD −22.2%
Market sensitivityBeta, 5 years: DIVG 0.41SPYD 0.64; Market = 1

DIVG and SPYD in the news

All news⁠

Best ETFs
For a rising dividend, iShares Core Dividend Growth ETF ranks first
Updated Nov 2, 2026SPYD
Best ETFs
Schwab's dividend ETF returned 22.8% in a year. Its income rate still trails a one-month bill.
Updated Oct 2, 2026SPYD

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DIVG vs SPYD

In short

Stated mandate

Why people hold it

Worth knowing

How DIVG and SPYD differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DIVG

Only in SPYD

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

Schwab's dividend ETF returned 22.8% in a year. Its income rate still trails a one-month bill.

How DIVG and SPYD differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DIVG

Only in SPYD

Weight gaps