DIVI vs IQDY: Grades, Fees and Holdings Compared

Franklin International Core Dividend Tilt Index ETF

DIVIANYSE Arca

Northern Trust International Quality Dividend Dynamic ETF

IQDYBNYSE Arca

Overlap

28.9%by weight

Expense ratio

DIVI −0.38pt a year

DIVI0.09%IQDY0.47%

Avg volume · 30D

DIVI 24.3×the volume

DIVI192KIQDY7.9K

10Y return · a year

DIVI +0.6pt

DIVI+11.2%IQDY+10.6%

DIVI vs IQDY Performance

Nov 2, 2021 – Nov 2, 2026

+86.2%DIVI+71.2%IQDY

Expense ratio: DIVI 0.09%, better; IQDY 0.47%
Fund size: DIVI $2.64B; IQDY $105M
1Y total return: DIVI +16.7%; IQDY +17.9%, better
Yield (12M): DIVI 3.71%, better; IQDY 3.47%
Holdings: DIVI 418; IQDY 232
Avg volume (30D): DIVI 192K sh, better; IQDY 7.9K sh
NAV per share: DIVI $42.45; IQDY $40.39
52W range

ETF.net Grade

Pillar letters and Scores for DIVI, IQDY, with each pillar’s weight
Pillar	DIVI	IQDY
Cost30% weight	A90Higher	B65
Mission25% weight	A100Higher	A78
Risk15% weight	D38Higher	D32
Tradability15% weight	B66Higher	F15
Holdings10% weight	A80Higher	B68
Durability5% weight	B64Higher	C44

Rank among International Dividend Index funds

How we build Categories ›

Same Category. DIVI and IQDY are both graded against the same 34 International Dividend Index funds, so their Grades compare head to head.

International Dividend Index⁠

Category · 34 funds

See all 34 ›

DIVI ranks 2nd and IQDY 17th of 34 funds in the International Dividend Index Category.

Rank 1AVYMIVanguard International High Dividend Yield ETFScore 84
Rank 2ADIVIFranklin International Core Dividend Tilt Index ETFScore 78
Rank 3AIGROiShares International Dividend Growth ETFScore 77
Rank 16BFDDFirst Trust STOXX European Select Dividend Index FundScore 58
Rank 17BIQDYNorthern Trust International Quality Dividend Dynamic ETFScore 54
Rank 18CDLSWisdomTree International SmallCap Dividend FundScore 53

Our read on each fund

ETF.net Research

DIVIAFranklin International Core Dividend Tilt Index ETF

IQDYBNorthern Trust International Quality Dividend Dynamic ETF

In short

DIVI A tilt, not a screen: DIVI optimizes a broad developed-markets ex-North America index toward higher yield while limiting drift from that parent. Core international shape, income lean, 0.09% a year.

IQDY International dividend funds usually lean defensive. This one goes the other way: a quality-and-yield screen on non-US developed and emerging names, then optimized toward a beta of 1.0 to 1.5 times its parent index.

Stated mandate

DIVI The Fund seeks to track, before fees and expenses, the Morningstar Developed Markets ex-North America Dividend Enhanced Select Index. Its index methodology seeks higher dividend yield than the parent index while maintaining core exposure to developed markets outside North America.

IQDY The Fund seeks to track the price and yield performance, before fees and expenses, of the Northern Trust International Quality Dividend Dynamic Index.

Why people hold it

DIVI Costs 0.09% a year, while the median fund in its international-dividend cohort charges closer to 0.50%.
The index takes a broad developed ex-North America benchmark and optimizes it for higher yield while limiting expected tracking error to that parent. Income lean, core shape.sec.gov
Tracks its index closely, among the strongest implementations in its peer group.
A multi-billion-dollar fund holding about 80 developed-market names, paying distributions quarterly.

IQDY The "dynamic" label is literal: the index targets an aggregate beta of 1.0 to 1.5 times the Northern Trust International Large Cap parent index instead of damping it.sec.gov
Quality gates come first: non-dividend-payers and the weakest quintile on management efficiency, profitability and cash flow are cut before anything gets weighted.sec.gov
Sector, industry group, region, country, single-security and turnover constraints spread roughly 200 names across developed and emerging markets. Income is paid quarterly.sec.gov
Trading since 2013, so the strategy has a long live record through real market cycles rather than a backtest.

Worth knowing

DIVI The tilt is mild by design: the index caps how far it can drift from its parent, so it reaches for less yield than funds built on hard high-yield screens.sec.gov
Cheaper options sit in the same cohort (VYMI at 0.07%, SCHY at 0.08%), so the fee edge is over the category median, not over the largest index shops.
Today's strategy dates to 2022, when the fund was renamed from Franklin LibertyQ International Equity Hedged ETF, so its 2016-onward record covers a different mandate.sec.gov

IQDY Costs 0.47% net of a waiver through March 1, 2027 (0.51% gross). That is near the category median, but the highest-ranked peers run far cheaper: VYMI at 0.07%, SCHY at 0.08%.
Small and thinly traded. Spreads tend to be wider than the household-name alternatives, and that gap is a real cost stacked on top of the expense ratio.
A beta target above the parent index means the portfolio is built to move more than that benchmark in both directions, and emerging-market and currency exposure add to the swing.sec.gov

Full DIVI profile⁠

Full IQDY profile⁠

DIVI vs IQDY Holdings

How DIVI and IQDY differ

Overlap by weight

28.9%

Shared holdings make up 50.4% of IQDY and 40.5% of DIVI.

Level by level

Holdings99 in both28.9%
Countryby domicile56.4%
Sector11 Sectors83.2%
Asset classEquity100%

Sector

Sector weights in DIVI and IQDY, widest gap first
Sector	More in DIVIMore in IQDY	DIVI	IQDY
Technology	IQDY +10.9 points	11.4%	22.3%
Health Care	DIVI +4.3 points	9.1%	4.8%
Consumer Staples	DIVI +3.4 points	6.1%	2.7%
Industrials	DIVI +3.1 points	17.5%	14.4%
Materials	IQDY +2.4 points	5.6%	8.0%
Communication	DIVI +2.0 points	5.2%	3.2%
Energy	IQDY +1.9 points	3.6%	5.5%
Utilities	DIVI +1.9 points	4.1%	2.2%
Financials	DIVI +1.8 points	29.3%	27.5%
Consumer Discretionary	IQDY +1.5 points	6.2%	7.7%
Real Estate	DIVI +0.5 points	2.0%	1.5%

Country, concentration and asset class

Country by domicile

Country weights in DIVI and IQDY, widest gap first
Country	More in DIVIMore in IQDY	DIVI	IQDY
Taiwan	IQDY +12.9 points	0.0%	12.9%
Japan	DIVI +10.3 points	23.0%	12.7%
Australia	DIVI +5.6 points	8.5%	2.9%
Canada	IQDY +5.5 points	0.0%	5.5%
South Korea	IQDY +5.3 points	0.0%	5.3%
Germany	DIVI +5.1 points	8.0%	2.9%
China	IQDY +5.0 points	0.0%	5.0%
United Kingdom	DIVI +4.9 points	13.9%	9.0%
Other countries (26)	DIVI +2.9 points	46.6%	43.7%

Outside the US: DIVI 98% developed, 2% emerging. IQDY 63% developed, 37% emerging.

Concentration

Weight in the 10 largest Holdings

DIVI14.2%
IQDY20.2%

Securities held

DIVI416
IQDY204

Asset class

DIVI: Equity
IQDY: Equity

Holdings

Only in DIVI317
In both99
Only in IQDY105

Only in DIVI

317 securities, 59.5% of DIVI by weight

Siemens Ag-Reg1.15%
British American Tobacco1.09%
Zurich Insurance Group AG0.99%
Toyota Motor Corp0.85%
Recruit Holdings Co Ltd0.83%
Allianz Se-Reg0.83%
Commonwealth Bank of Aust0.79%
Unilever PLC0.78%
Takeda Pharmaceutical Co0.70%
Eni Spa0.68%
Banco Bilbao Vizcaya Arge0.67%
Gsk PLC0.65%
Sumitomo Mitsui Financial0.63%
Axa SA0.62%
Schneider Electric SE0.61%
Airbus SE0.55%
Engie0.54%
Sony Group Corp0.53%
Softbank Corp0.53%
Abb Ltd-Reg0.51%
Westpac Banking Corp0.50%
Shell PLC0.48%
National Australia Bank L0.48%
Diageo PLC0.48%
Orange0.48%
Anz Group Holdings Ltd0.47%
Muenchener Rueckver Ag-Re0.46%
Mizuho Financial Group In0.45%
Transurban Group0.45%
Deutsche Telekom Ag-Reg0.45%
Swiss Re AG0.44%
Reckitt Benckiser Group0.44%
Aviva PLC0.43%
Net Current Assets0.43%
Ing Groep NV0.42%
National Grid PLC0.42%
Softbank Group Corp0.41%
Mitsubishi Corp0.41%
Aia Group Ltd0.41%
Basf SE0.40%
Rio Tinto Ltd0.39%
Iberdrola SA0.39%
Tokio Marine Holdings Inc0.39%
Fast Retailing Co Ltd0.39%
Keyence Corp0.38%
Honda Motor Co Ltd0.37%
Wesfarmers Ltd0.37%
Relx PLC0.35%
Ubs Group Ag-Reg0.35%
Itochu Corp0.35%

Only in IQDY

105 securities, 47.6% of IQDY by weight

Taiwan Semiconductor Manufacturing Co Ltd Common4.41%
Mediatek Inc Common Stock Twd 102.50%
Samsung Electronics Co Ltd Common Stock Krw 1001.56%
Sk Hynix Inc Common Stock Krw 50001.01%
Msci Eafe Equity Index 18/DEC/2026 MFSZ6 Index0.87%
Huaneng Power International Inc Common Stock Hkd 10.87%
Grupo Financiero Banorte Sab De Cv Common Stock0.86%
Evergreen Marine Corp Taiwan Ltd Common Stock Twd0.86%
Novatek Microelectronics Corp Common Stock Twd 100.86%
Standard Chartered PLC USD0.85%
Bb Seguridade Participacoes SA Common Stock Brl0.83%
Cosco Shipping Holdings Co Ltd Common Stock Hkd 10.83%
Canadian Natural Resources Ltd Common Stock Cad 00.82%
Royal Bank of Canada Common Stock Cad 00.82%
Ptt Exploration & Production Pcl Nvdr Thb 10.79%
Eva Airways Corp Common Stock Twd 100.76%
International Consolidated Airlines Group SA0.76%
Ambev SA Common Stock Brl 00.76%
Brookfield Asset Management Ltd Common Stock Cad0.74%
Quinenco SA Common Stock Clp 00.73%
Vat Group AG Common Stock Chf 0.10.72%
Renault SA Common Stock Eur 3.810.72%
Bank Negara Indonesia Persero Tbk Pt Common Stock0.71%
Bank Rakyat Indonesia Persero Tbk Pt Common Stock0.71%
Talabat Holding PLC Common Stock Aed 0.040.71%
Korea Investment Holdings Co Ltd Common Stock Krw0.69%
Kumba Iron Ore Ltd Common Stock Zar 0.010.68%
Lundin Gold Inc Common Stock Cad 00.68%
Hon Hai Precision Industry Co Ltd Common Stock Twd0.65%
Kia Corp Common Stock Krw 50000.63%
Telkom Indonesia Persero Tbk Pt Common Stock Idr0.61%
Hcl Technologies Ltd Common Stock Inr 20.55%
Bosideng International Holdings Ltd Common Stock0.54%
Manulife Financial Corp Common Stock Cad 00.53%
Kiwoom Securities Co Ltd Common Stock Krw 50000.52%
Barclays PLC Common Stock Gbp 250.52%
Sonova Holding AG Common Stock Chf 0.050.51%
China Hongqiao Group Ltd Common Stock Hkd 0.010.50%
Bank Mandiri Persero Tbk Pt Common Stock Idr 1250.49%
Msci Emgmkt Equity Index 18/DEC/2026 MESZ6 Index0.44%
Barrick Mining Corp Common Stock Cad0.43%
Sk Square Co Ltd Common Stock Krw 5000.42%
Haidilao International Holding Ltd Common Stock0.41%
Cenovus Energy Inc Common Stock Cad 00.35%
Logitech International SA Common Stock Chf 0.250.34%
Holcim AG Common Stock0.34%
Daiichi Life Group Inc Common Stock Jpy0.33%
Ovintiv Inc Common Stock USD0.30%
Realtek Semiconductor Corp Common Stock Twd 100.30%
Ping An Insurance Group Co of China Ltd Common0.28%

Weight gaps

All 99 Holdings in both funds, largest gap first.

Holding weights in DIVI and IQDY, widest gap first
Holding	More in DIVIMore in IQDY	DIVI	IQDY
Asml Holding NV	DIVI +1.75 points	2.82%	1.07%
Roche Holding AG	DIVI +1.39 points	1.62%	0.23%
Nestle Sa-Reg	DIVI +1.38 points	1.41%	0.03%
Hitachi Ltd	IQDY +1.26 points	0.66%	1.92%
Astrazeneca PLCAZN.L	DIVI +1.22 points	1.29%	0.07%
Sap SE	DIVI +1.06 points	1.11%	0.05%
Novo Nordisk A/S-B	IQDY +1.06 points	0.72%	1.78%
Advantest Corp	IQDY +1.04 points	0.78%	1.82%
Var Energi Asa	IQDY +0.87 points	0.07%	0.94%
Industria De Diseno Texti	IQDY +0.77 points	0.12%	0.89%
Erste Bank Polska SA	IQDY +0.71 points	0.11%	0.82%
Techtronic Industries Co	IQDY +0.70 points	0.13%	0.83%
Makita Corp	IQDY +0.70 points	0.11%	0.81%
Bnp Paribas	IQDY +0.70 points	0.68%	1.38%
Mitsubishi Ufj Financial	IQDY +0.67 points	1.03%	1.70%
Telenor Asa	IQDY +0.66 points	0.13%	0.79%
Skandinaviska Enskilda Ba	IQDY +0.65 points	0.11%	0.76%
Banca Mediolanum Spa	IQDY +0.64 points	0.08%	0.72%
Lasertec Corp	IQDY +0.62 points	0.16%	0.78%
Fanuc Corp	IQDY +0.63 points	0.21%	0.84%
Novartis Ag-Reg	DIVI +0.61 points	1.29%	0.68%
Bank Pekao SA	IQDY +0.60 points	0.19%	0.79%
Wh Group Ltd	IQDY +0.52 points	0.09%	0.61%
Imperial Brands PLCIMB.L	IQDY +0.52 points	0.45%	0.97%
Legal & General Group PLCLGEN.L	IQDY +0.52 points	0.32%	0.84%
Fresnillo PLCFRES.L	IQDY +0.49 points	0.08%	0.57%
Rolls-Royce Holdings PLCRR.L	DIVI +0.46 points	0.55%	0.09%
Lvmh Moet Hennessy Louis	DIVI +0.47 points	0.53%	0.06%
Partners Group Holding AG	IQDY +0.46 points	0.26%	0.72%
Koninklijke Philips NV	IQDY +0.46 points	0.17%	0.63%
Japan Tobacco Inc	DIVI +0.45 points	0.48%	0.03%
Fujikura Ltd	IQDY +0.44 points	0.24%	0.68%
Fortescue Ltd	IQDY +0.42 points	0.23%	0.65%
Hsbc Holdings PLCHSBA.L	IQDY +0.41 points	1.31%	1.72%
Intesa Sanpaolo	IQDY +0.41 points	0.92%	1.33%
Sanofi	DIVI +0.34 points	1.01%	0.67%
Siemens Energy AG	DIVI +0.33 points	0.47%	0.14%
Nordea Bank Abp	DIVI +0.33 points	0.72%	0.39%
Tokyo Electron Ltd	IQDY +0.32 points	0.67%	0.99%
Bhp Group Ltd	IQDY +0.32 points	1.10%	1.42%
Upm-Kymmene Oyj	IQDY +0.32 points	0.19%	0.51%
Mercedes-Benz Group AG	IQDY +0.31 points	0.45%	0.76%
Dnb Bank Asa	DIVI +0.26 points	0.34%	0.08%
Enel Spa	IQDY +0.26 points	0.85%	1.11%
Kone Oyj-B	IQDY +0.22 points	0.20%	0.42%
Compagnie De Saint Gobain	IQDY +0.21 points	0.04%	0.25%
Swedbank Ab - A Shares	DIVI +0.19 points	0.51%	0.32%
Danske Bank A/S	IQDY +0.19 points	0.10%	0.29%
Daimler Truck Holding AG	DIVI +0.19 points	0.29%	0.10%
Totalenergies SE	IQDY +0.17 points	0.77%	0.94%
Woodside Energy Group Ltd	DIVI +0.18 points	0.51%	0.33%
TELE2 Ab-B Shs	IQDY +0.17 points	0.13%	0.30%
Vodafone Group PLCVOD.L	IQDY +0.17 points	0.12%	0.29%
Ing Bank Slaski SA	IQDY +0.15 points	0.05%	0.20%
Kbc Group NV	IQDY +0.15 points	0.13%	0.28%
Ck Asset Holdings Ltd	IQDY +0.14 points	0.12%	0.26%
Nomura Holdings Inc	IQDY +0.12 points	0.20%	0.32%
Sands China Ltd	IQDY +0.12 points	0.04%	0.16%
Qantas Airways Ltd	IQDY +0.11 points	0.07%	0.18%
Bureau Veritas SA	IQDY +0.11 points	0.15%	0.26%
Intertek Group PLCITRK.L	IQDY +0.10 points	0.16%	0.26%
Segro PLCSGRO.L	DIVI +0.11 points	0.20%	0.09%
Daiwa Securities Group In	DIVI +0.10 points	0.20%	0.10%
Coloplast-B	DIVI +0.09 points	0.15%	0.06%
Hennes & Mauritz Ab-B Shs	IQDY +0.09 points	0.12%	0.21%
Continental AG	IQDY +0.09 points	0.11%	0.20%
Finecobank Spa	IQDY +0.09 points	0.14%	0.23%
Caixabank SA	IQDY +0.08 points	0.25%	0.33%
Hong Kong & China Gas	DIVI +0.08 points	0.15%	0.07%
Marubeni Corp	IQDY +0.08 points	0.22%	0.30%
Metso Corp	IQDY +0.08 points	0.16%	0.24%
Pko Bank Polski SA	DIVI +0.08 points	0.35%	0.27%
Singapore Airlines Ltd	IQDY +0.08 points	0.11%	0.19%
Powszechny Zaklad Ubezpie	IQDY +0.08 points	0.14%	0.22%
Unicredit Spa	DIVI +0.08 points	0.67%	0.59%
Cie Financiere Richemo-A	DIVI +0.07 points	0.38%	0.31%
Dbs Group Holdings Ltd	DIVI +0.07 points	0.77%	0.69%
Hong Kong Exchanges & Cle	DIVI +0.06 points	0.43%	0.37%
Renesas Electronics Corp	IQDY +0.07 points	0.17%	0.24%
Dhl AG	DIVI +0.06 points	0.49%	0.43%
Rio Tinto PLCRIO.L	DIVI +0.06 points	0.75%	0.69%
Publicis Groupe	IQDY +0.06 points	0.23%	0.29%
Bouygues SA	IQDY +0.04 points	0.13%	0.17%
Bp PLCBP.L	IQDY +0.04 points	0.67%	0.71%
Link Reit	IQDY +0.04 points	0.19%	0.23%
Natwest Group PLCNWG.L	DIVI +0.04 points	0.49%	0.45%
Bayerische Motoren Werke	DIVI +0.03 points	0.29%	0.26%
Telefonica SA	DIVI +0.04 points	0.25%	0.21%
Julius Baer Group Ltd	IQDY +0.03 points	0.22%	0.25%
Origin Energy Ltd	IQDY +0.02 points	0.22%	0.24%
Disco Corp	IQDY +0.02 points	0.19%	0.21%
Pernod Ricard SA	IQDY +0.02 points	0.22%	0.24%
Sumitomo Electric Industr	DIVI +0.02 points	0.24%	0.22%
Vonovia SE	DIVI +0.02 points	0.23%	0.21%
Cvc Capital Partners PLC	DIVI +0.01 points	0.21%	0.20%
Komatsu Ltd	IQDY +0.01 points	0.28%	0.29%
Volkswagen Ag-Pref	Same weight	0.22%	0.22%
Shin-Etsu Chemical Co Ltd	DIVI +0.01 points	0.36%	0.35%
Sun Hung Kai Properties	Same weight	0.06%	0.06%

All DIVI holdings⁠All 251 IQDY 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.

DIVI vs IQDY Cost

Overpaying IQDY vs DIVI

$7,520

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

DIVI 0.09%
$1,898
IQDY 0.47%
$9,418

Amount$10,000

Years30 years

Cost over time

DIVI 0.09%
IQDY 0.47%
Overpaying

Year by year

Year	DIVI	IQDY	Overpaying
10	$165	$847	$682
20	$646	$3,261	$2,615
30	$1,898	$9,418	$7,520

Expense ratio

0.09%DIVI, cheaper
0.47%IQDY

DIVI0.09%IQDY0.47%

0.07%0.60%

Middle half of International Dividend Index funds
Median 0.49%

DIVI 4th cheapest of 34 funds

IQDY 13th cheapest of 34 funds

DIVI vs IQDY Dividends

Last 12 months to Nov 2, 2026

Yield (12M): DIVI 3.71%, better; IQDY 3.47%
Payout (12M): DIVI $1.57; IQDY $1.40
Last payment: DIVI $0.21; IQDY $0.46
Ex-dividend: DIVI Sep 18, 2026; IQDY Sep 18, 2026
Paid on: DIVI Sep 25, 2026; IQDY Sep 24, 2026
Frequency: DIVI Quarterly; IQDY Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

DIVIQuarterly · 28 paymentsAll DIVI payments⁠

IQDYQuarterly · 38 paymentsAll IQDY payments⁠

DIVI vs IQDY Risk

Fall from peak · 5 years

DIVI
IQDY

Risk facts

VolatilityStd dev, 3 years: DIVI 11.6%, betterIQDY 12.6%
Return per unit of riskSharpe ratio, 3 years: DIVI 1.30IQDY 1.46, better
Worst fallMax drawdown, 5 years: DIVI −18.5%, betterIQDY −32.3%
Market sensitivityBeta, 5 years: DIVI 0.93IQDY 0.91; Market = 1

DIVI and IQDY in the news

All news⁠

ETF Filings
Franklin Templeton files two enhanced ETFs to absorb its international core funds
Sep 18, 2026DIVI

Popular comparisons

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DIVI vs IQDY

In short

Stated mandate

Why people hold it

Worth knowing

How DIVI and IQDY differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DIVI

Only in IQDY

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Franklin Templeton files two enhanced ETFs to absorb its international core funds

How DIVI and IQDY differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DIVI

Only in IQDY

Weight gaps