FVD vs SPYD: Grades, Fees and Holdings Compared

First Trust Value Line Dividend Index Fund

FVDCNYSE Arca

State Street SPDR Portfolio S&P 500 High Dividend ETF

SPYDANYSE Arca

Overlap

17.0%by weight

Expense ratio

SPYD −0.55pt a year

FVD0.62%SPYD0.07%

Avg volume · 30D

SPYD 1.9×the volume

FVD541KSPYD1M

10Y return · a year

FVD +0.2pt

FVD+9.1%SPYD+8.9%

FVD vs SPYD Performance

Oct 29, 2021 – Oct 30, 2026

+38.0%FVD+52.1%SPYD

Expense ratio: FVD 0.62%; SPYD 0.07%, better
Fund size: FVD $8.08B; SPYD $7.61B
1Y total return: FVD +15.1%; SPYD +20.6%, better
Yield (12M): FVD 2.21%; SPYD 4.20%, better
Holdings: FVD 243; SPYD 81
Avg volume (30D): FVD 541K sh; SPYD 1M sh, better
NAV per share: FVD $50.73; SPYD $48.88
52W range

ETF.net Grade

Pillar letters and Scores for FVD, SPYD, with each pillar’s weight
Pillar	FVD	SPYD
Cost30% weight	F6	A88Higher
Mission25% weight	A84	A88Higher
Risk15% weight	C51Higher	C40
Tradability15% weight	A77	A92Higher
Holdings10% weight	A88Higher	A73
Durability5% weight	A79	A83Higher

Rank among US Dividend Index funds

How we build Categories ›

Same Category. FVD 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 4th and FVD 29th 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 5AVIGVanguard Dividend Appreciation ETFScore 78
Rank 28BDESWisdomTree U.S. SmallCap Dividend FundScore 56
Rank 29CFVDFirst Trust Value Line Dividend Index FundScore 54
Rank 30CFDLFirst Trust Morningstar Dividend Leaders Index FundScore 52

Our read on each fund

ETF.net Research

FVDCFirst Trust Value Line Dividend Index Fund

SPYDAState Street SPDR Portfolio S&P 500 High Dividend ETF

In short

FVD A 2003-vintage dividend fund that runs US stocks through Value Line's Safety ranking, putting financial strength ahead of headline yield. Old-school pedigree, and old-school pricing at 0.62%.

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

FVD The Fund seeks investment results corresponding generally to the price and yield of the Value Line® Dividend 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

FVD Holdings come off Value Line's Safety ranking system, a quality screen, rather than a sort for the biggest yields on the board.ftportfolios.com
Trading since August 2003: one mandate, one index, multiple full market cycles behind it.
Roughly 220 US names, so no single dividend payer sets the tone, and it has tracked its stated index closely.
A multi-billion-dollar fund that trades actively and pays quarterly, so getting in or out is rarely the sticking point.

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

FVD The research overlay isn't free: 0.62% a year, against 0.04% for VIG and 0.06% for SCHD. Cheaper trackers crowd the front of this peer group.
The screen prizes safety and financial strength, a different job than maximizing income, so this is not a high-yield vehicle.ftportfolios.com
The objective targets the index's price and yield before fees and expenses, so the expense ratio comes off the top of whatever the index does.ftportfolios.com

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 FVD profile⁠

Full SPYD profile⁠

FVD vs SPYD Holdings

How FVD and SPYD differ

Overlap by weight

17.0%

Shared holdings make up 52.4% of SPYD and 17.0% of FVD.

Level by level

Holdings41 in both17.0%
Sector11 Sectors71.0%
Countryby domicile86.1%
Asset classEquity100%

Sector

Sector weights in FVD and SPYD, widest gap first
Sector	More in FVDMore in SPYD	FVD	SPYD
Real Estate	SPYD +16.4 points	8.0%	24.4%
Industrials	FVD +9.3 points	14.5%	5.2%
Financials	FVD +7.7 points	21.0%	13.3%
Utilities	FVD +7.1 points	18.0%	10.9%
Materials	SPYD +5.3 points	2.2%	7.5%
Health Care	FVD +3.7 points	8.1%	4.4%
Consumer Staples	SPYD +3.1 points	10.9%	14.0%
Communication	SPYD +2.2 points	2.9%	5.1%
Energy	SPYD +1.6 points	4.2%	5.8%
Technology	FVD +1.4 points	5.3%	4.0%
Consumer Discretionary	SPYD +0.4 points	5.0%	5.4%

Country, concentration and asset class

Country by domicile

Country weights in FVD and SPYD, widest gap first
Country	More in FVDMore in SPYD	FVD	SPYD
United States	SPYD +12.7 points	84.7%	97.4%
Canada	FVD +7.1 points	7.1%	0.0%
United Kingdom	FVD +2.3 points	3.7%	1.4%
Ireland	SPYD +1.2 points	0.0%	1.2%
Japan	FVD +1.2 points	1.2%	0.0%
Switzerland	FVD +0.9 points	0.8%	0.0%
France	FVD +0.8 points	0.8%	0.0%
Other countries (4)	FVD +1.6 points	1.6%	0.0%

Concentration

Weight in the 10 largest Holdings

FVD4.4%
SPYD16.2%

Securities held

FVD241
SPYD79

Asset class

FVD: Equity
SPYD: Equity

Holdings

Only in FVD200
In both41
Only in SPYD38

Only in FVD

200 securities, 82.8% of FVD by weight

PPG Industries, Inc.0.45%
AstraZeneca Plc0.45%
AptarGroup, Inc.0.44%
Gilead Sciences, Inc.0.44%
Lincoln Electric Holdings, Inc.0.44%
L3Harris Technologies, Inc.0.44%
Aon Plc (Class A)0.44%
T-Mobile US, Inc.0.44%
Merck & Co., Inc.0.44%
Sanofi (ADR)0.44%
Intercontinental Exchange, Inc.0.43%
Lowe's Companies, Inc.0.43%
Jacobs Solutions Inc.0.43%
Ecolab Inc.0.43%
Amgen Inc.0.43%
RPM International Inc.0.43%
Novartis AG (ADR)0.43%
WEC Energy Group, Inc.0.43%
General Dynamics Corporation0.43%
Yum! Brands, Inc.0.43%
IDACORP, Inc.0.43%
Quest Diagnostics Incorporated0.43%
The Williams Companies, Inc.0.43%
Air Products and Chemicals, Inc.0.42%
Arthur J. Gallagher & Co.0.42%
Philip Morris International Inc.0.42%
TC Energy Corporation0.42%
Mondelez International, Inc.0.42%
Alliant Energy Corporation0.42%
The Home Depot, Inc.0.42%
Marsh & McLennan Companies, Inc.0.42%
Public Service Enterprise Group Incorporated0.42%
CenterPoint Energy, Inc.0.42%
McDonald's Corporation0.42%
DTE Energy Company0.42%
AbbVie Inc.0.42%
Federated Hermes, Inc. (Class B)0.42%
Reynolds Consumer Products Inc.0.42%
Spire Inc.0.42%
NiSource Inc.0.42%
Johnson & Johnson0.42%
Norfolk Southern Corporation0.42%
Dover Corporation0.42%
Xcel Energy Inc.0.42%
Enbridge Inc.0.42%
Aflac Incorporated0.42%
Keurig Dr Pepper Inc.0.42%
Entergy Corporation0.42%
Union Pacific Corporation0.42%
British American Tobacco Plc (ADR)0.42%

Only in SPYD

38 securities, 47.3% of SPYD by weight

Hasbro Inc1.73%
Hp Inc1.63%
Stanley Black & Decker Inc1.49%
Best Buy Co Inc1.48%
Crown Castle Inc1.48%
Eog Resources Inc1.45%
American Tower Corp1.44%
Target Corp1.42%
Dow Inc1.38%
Ares Management Corp A1.37%
Host Hotels & Resorts Inc1.35%
Lyondellbasell Indu Class A1.35%
Oneok Inc1.34%
Extra Space Storage Inc1.33%
Omnicom Group1.31%
Aes Corp1.29%
Franklin Templeton Inc1.29%
Blackstone Inc1.26%
Smurfit Westrock PLC1.23%
Simon Property Group Inc1.23%
Truist Financial Corp1.23%
International Paper Co1.21%
Regions Financial Corp1.20%
Bxp Inc1.20%
Keycorp1.20%
Clorox Company1.19%
United Parcel Service Class B1.19%
Fidelity National Info Serv1.18%
At+t Inc1.17%
Nike Inc Class B1.17%
Mccormick & Co Non Vtg Shrs1.16%
Huntington Bancshares Inc1.12%
Ford Motor Co1.10%
Healthpeak Properties Inc1.09%
Alexandria Real Estate Equit1.05%
Mosaic Co/The1.03%
Edison International0.95%
S+P500 Emini Fut DEC26<0.01%

Weight gaps

All 41 Holdings in both funds, largest gap first.

Holding weights in FVD and SPYD, widest gap first
Holding	More in FVDMore in SPYD	FVD	SPYD
Accenture plcACN	SPYD +1.84 points	0.43%	2.27%
Pfizer Inc.PFE	SPYD +1.13 points	0.42%	1.55%
Chevron CorporationCVX	SPYD +1.12 points	0.42%	1.54%
Medtronic PlcMDT	SPYD +1.11 points	0.42%	1.53%
Amcor plcAMCR	SPYD +0.98 points	0.42%	1.40%
The J.M. Smucker CompanySJM	SPYD +0.97 points	0.41%	1.38%
Kinder Morgan, Inc.KMI	SPYD +0.94 points	0.41%	1.35%
Altria Group, Inc.MO	SPYD +0.94 points	0.43%	1.37%
Kenvue Inc.KVUE	SPYD +0.91 points	0.41%	1.32%
Kimberly-Clark CorporationKMB	SPYD +0.90 points	0.40%	1.30%
Bristol-Myers Squibb CompanyBMY	SPYD +0.88 points	0.42%	1.30%
Pinnacle West Capital CorporationPNW	SPYD +0.88 points	0.41%	1.29%
Public StoragePSA	SPYD +0.88 points	0.43%	1.31%
Paychex, Inc.PAYX	SPYD +0.87 points	0.40%	1.27%
PepsiCo, Inc.PEP	SPYD +0.85 points	0.42%	1.27%
Evergy, Inc.EVRG	SPYD +0.85 points	0.42%	1.27%
Prudential Financial, Inc.PRU	SPYD +0.86 points	0.41%	1.27%
Duke Energy CorporationDUK	SPYD +0.85 points	0.42%	1.27%
Verizon Communications Inc.VZ	SPYD +0.84 points	0.43%	1.27%
Exelon CorporationEXC	SPYD +0.84 points	0.43%	1.27%
Honeywell International Inc.HON	SPYD +0.82 points	0.41%	1.23%
FirstEnergy Corp.FE	SPYD +0.80 points	0.42%	1.22%
U.S. BancorpUSB	SPYD +0.80 points	0.41%	1.21%
Comcast Corporation (Class A)CMCSA	SPYD +0.79 points	0.43%	1.22%
The Kraft Heinz CompanyKHC	SPYD +0.78 points	0.40%	1.18%
Kimco Realty CorporationKIM	SPYD +0.77 points	0.43%	1.20%
T. Rowe Price Group, Inc.TROW	SPYD +0.77 points	0.41%	1.18%
Essex Property Trust, Inc.ESS	SPYD +0.77 points	0.39%	1.16%
VICI Properties Inc.VICI	SPYD +0.77 points	0.42%	1.19%
Invitation Homes Inc.INVH	SPYD +0.76 points	0.40%	1.16%
Vivmark ResidentialVMRK	SPYD +0.76 points	0.40%	1.16%
Dominion Energy, Inc.D	SPYD +0.76 points	0.42%	1.18%
Eversource EnergyES	SPYD +0.75 points	0.42%	1.17%
Mid-America Apartment Communities, Inc.MAA	SPYD +0.76 points	0.40%	1.16%
Regency Centers CorporationREG	SPYD +0.75 points	0.42%	1.17%
Camden Property TrustCPT	SPYD +0.76 points	0.40%	1.16%
General Mills, Inc.GIS	SPYD +0.74 points	0.42%	1.16%
UDR, Inc.UDR	SPYD +0.74 points	0.41%	1.15%
Federal Realty Investment TrustFRT	SPYD +0.73 points	0.41%	1.14%
Realty Income CorporationO	SPYD +0.71 points	0.41%	1.12%
Hormel Foods CorporationHRL	SPYD +0.64 points	0.42%	1.06%

All 241 FVD holdings⁠All 78 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.

FVD vs SPYD Cost

Overpaying FVD vs SPYD

$10,699

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

FVD 0.62%
$12,179
SPYD 0.07%
$1,480

Amount$10,000

Years30 years

Cost over time

FVD 0.62%
SPYD 0.07%
Overpaying

Year by year

Year	FVD	SPYD	Overpaying
10	$1,111	$128	$983
20	$4,246	$503	$3,743
30	$12,179	$1,480	$10,699

Expense ratio

0.62%FVD
0.07%SPYD, cheaper

SPYD0.07%FVD0.62%

0.04%0.70%

Middle half of US Dividend Index funds
Median 0.35%

SPYD 6th cheapest of 52 funds

FVD 49th cheapest of 52 funds

FVD vs SPYD Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FVD 2.21%; SPYD 4.20%, better
Payout (12M): FVD $1.12; SPYD $2.06
Last payment: FVD $0.26; SPYD $0.52
Ex-dividend: FVD Sep 24, 2026; SPYD Sep 21, 2026
Paid on: FVD Sep 30, 2026; SPYD Sep 23, 2026
Frequency: FVD Quarterly; SPYD Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FVDQuarterly · 39 paymentsAll FVD payments⁠

SPYDQuarterly · 39 paymentsAll SPYD payments⁠

FVD vs SPYD Risk

Fall from peak · 5 years

FVD
SPYD

Risk facts

VolatilityStd dev, 3 years: FVD 11.9%, betterSPYD 14.5%
Return per unit of riskSharpe ratio, 3 years: FVD 0.80SPYD 0.96, better
Worst fallMax drawdown, 5 years: FVD −16.4%, betterSPYD −22.2%
Market sensitivityBeta, 5 years: FVD 0.49SPYD 0.64; Market = 1

FVD 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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FVD vs SPYD

In short

Stated mandate

Why people hold it

Worth knowing

How FVD and SPYD differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FVD

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 FVD and SPYD differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FVD

Only in SPYD

Weight gaps