FVD vs VIG: Grades, Fees and Holdings Compared

First Trust Value Line Dividend Index Fund

FVDCNYSE Arca

Vanguard Dividend Appreciation ETF

VIGANYSE Arca

Overlap

25.3%by weight

Expense ratio

VIG −0.58pt a year

FVD0.62%VIG0.04%

Avg volume · 30D

VIG 1.9×the volume

FVD541KVIG1.02M

10Y return · a year

VIG +4.7pt

FVD+9.1%VIG+13.8%

FVD vs VIG Performance

Oct 29, 2021 – Oct 30, 2026

+38.0%FVD+65.3%VIG

Expense ratio: FVD 0.62%; VIG 0.04%, better
Fund size: FVD $8.08B; VIG $128B
1Y total return: FVD +15.1%; VIG +16.0%, better
Yield (12M): FVD 2.21%, better; VIG 1.47%
Holdings: FVD 243; VIG 335
Avg volume (30D): FVD 541K sh; VIG 1.02M sh, better
NAV per share: FVD $50.73; VIG $247.72
52W range

ETF.net Grade

Pillar letters and Scores for FVD, VIG, with each pillar’s weight
Pillar	FVD	VIG
Cost30% weight	F6	A100Higher
Mission25% weight	A84	A84
Risk15% weight	C51	B62Higher
Tradability15% weight	A77Higher	B59
Holdings10% weight	A88Higher	C52
Durability5% weight	A79	A92Higher

Rank among US Dividend Index funds

How we build Categories ›

Same Category. FVD and VIG 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 ›

VIG ranks 5th and FVD 29th of 52 funds in the US Dividend Index Category.

Rank 4ASPYDState Street SPDR Portfolio S&P 500 High Dividend ETFScore 79
Rank 5AVIGVanguard Dividend Appreciation ETFScore 78
Rank 6ADLNWisdomTree U.S. LargeCap Dividend FundScore 74
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

VIGAVanguard Dividend Appreciation 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%.

VIG VIG buys dividend growth, not fat yields: about 300 US companies with a record of raising their payouts, tracked for 0.04% a year. Running since 2006 and now north of $100 billion, it is the plain-vanilla anchor of the dividend-screen aisle.

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.

VIG The fund seeks to track the S&P U.S. Dividend Growers Index, which represents common stocks of companies with a record of increasing dividends over time.

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.

VIG At 0.04% a year, the fee is roughly a tenth of the typical dividend-screen fund's 0.39%, and undercuts every other top-graded fund in the group, DGRO and SCHD included.
The screen rewards a record of increasing dividends rather than the biggest current payout, so the basket leans on payout discipline instead of stretched yields.
Live since 2006, over $100 billion in assets and actively traded, which shows up as easy fills rather than wide spreads.
About 300 holdings, cash paid quarterly, and one of the strongest overall implementations in its dividend-screen peer group.

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

VIG Growth of payouts, not maximum income, is the mandate. That puts it on a different axis than high-dividend funds such as SPYD.
US stocks only, no bonds and no overseas payers, and sector weights are whatever the index screen spits out.
Portfolio risk and concentration measures land mid-pack for the category: it is fully invested in equities and drops when the market drops.

Full FVD profile⁠

Full VIG profile⁠

FVD vs VIG Holdings

How FVD and VIG differ

Overlap by weight

25.3%

Shared holdings make up 49.8% of FVD and 47.3% of VIG.

Level by level

Holdings120 in both25.3%
Sector11 Sectors66.3%
Countryby domicile84.7%
Asset classEquity100%

Sector

Sector weights in FVD and VIG, widest gap first
Sector	More in FVDMore in VIG	FVD	VIG
Technology	VIG +22.0 points	5.3%	27.4%
Utilities	FVD +15.3 points	18.0%	2.7%
Health Care	VIG +10.6 points	8.1%	18.7%
Real Estate	FVD +8.0 points	8.0%	0.0%
Industrials	FVD +3.7 points	14.5%	10.8%
Communication	FVD +2.9 points	2.9%	0.0%
Consumer Staples	FVD +1.8 points	10.9%	9.1%
Consumer Discretionary	FVD +1.1 points	5.0%	3.9%
Materials	VIG +1.0 points	2.2%	3.2%
Energy	FVD +0.6 points	4.2%	3.6%
Financials	FVD +0.3 points	21.0%	20.7%

Country, concentration and asset class

Country by domicile

Country weights in FVD and VIG, widest gap first
Country	More in FVDMore in VIG	FVD	VIG
United States	VIG +15.3 points	84.7%	100.0%
Canada	FVD +7.1 points	7.1%	0.0%
United Kingdom	FVD +3.7 points	3.7%	0.0%
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%
VIG34.6%

Securities held

FVD241
VIG334

Asset class

FVD: Equity
VIG: Equity

Holdings

Only in FVD121
In both120
Only in VIG214

Only in FVD

121 securities, 50.0% of FVD by weight

AstraZeneca Plc0.45%
T-Mobile US, Inc.0.44%
Sanofi (ADR)0.44%
Altria Group, Inc.0.43%
Public Storage0.43%
Comcast Corporation (Class A)0.43%
Jacobs Solutions Inc.0.43%
Novartis AG (ADR)0.43%
WEC Energy Group, Inc.0.43%
Yum! Brands, Inc.0.43%
Verizon Communications Inc.0.43%
Kimco Realty Corporation0.43%
Exelon Corporation0.43%
The Williams Companies, Inc.0.43%
Philip Morris International Inc.0.42%
TC Energy Corporation0.42%
CenterPoint Energy, Inc.0.42%
Federated Hermes, Inc. (Class B)0.42%
Reynolds Consumer Products Inc.0.42%
Spire Inc.0.42%
Amcor plc0.42%
Norfolk Southern Corporation0.42%
Enbridge Inc.0.42%
Pfizer Inc.0.42%
Keurig Dr Pepper Inc.0.42%
Duke Energy Corporation0.42%
British American Tobacco Plc (ADR)0.42%
Axis Capital Holdings Limited0.42%
Takeda Pharmaceutical Company Limited (ADR)0.42%
Dominion Energy, Inc.0.42%
Black Hills Corporation0.42%
PPL Corporation0.42%
Pembina Pipeline Corporation0.42%
OGE Energy Corp.0.42%
TELUS Corporation0.42%
Fortis Inc.0.42%
MSC Industrial Direct Co., Inc. (Class A)0.42%
VICI Properties Inc.0.42%
Stantec Inc.0.42%
Sun Life Financial Inc.0.42%
General Mills, Inc.0.42%
NorthWestern Energy Group, Inc.0.42%
TotalEnergies SE0.42%
Shell plc (ADR)0.42%
FirstEnergy Corp.0.42%
Hormel Foods Corporation0.42%
Evergy, Inc.0.42%
Chevron Corporation0.42%
Eversource Energy0.42%
Bristol-Myers Squibb Company0.42%

Only in VIG

214 securities, 52.6% of VIG by weight

Microsoft Corp4.92%
Apple Inc4.91%
Broadcom Inc4.32%
Eli Lilly & Co4.12%
Visa Inc2.54%
Walmart Inc2.06%
Mastercard Inc1.98%
Lam Research Corp1.83%
Costco Wholesale Corp1.80%
Caterpillar Inc1.66%
UnitedHealth Group Inc1.47%
Texas Instruments Inc1.14%
KLA Corp1.13%
Oracle Corp1.06%
Amphenol Corp0.92%
International Business Machines Corp0.92%
QUALCOMM Inc0.87%
Analog Devices Inc0.86%
Eaton Corp PLC0.74%
Danaher Corp0.62%
S&P Global Inc0.53%
Starbucks Corp0.48%
Phillips 660.45%
McKesson Corp0.44%
Elevance Health Inc0.36%
Intuit Inc0.34%
Sherwin-Williams Co/The0.33%
Moody's Corp0.30%
Cintas Corp0.30%
Comfort Systems USA Inc0.26%
Cencora Inc0.25%
WW Grainger Inc0.24%
Nucor Corp0.24%
Cardinal Health Inc0.23%
Sempra0.23%
Honeywell Aerospace Inc0.22%
Agilent Technologies Inc0.22%
Rockwell Automation Inc0.21%
Fifth Third Bancorp0.20%
Ameriprise Financial Inc0.19%
NIKE Inc0.19%
Microchip Technology Inc0.19%
MSCI Inc0.17%
Archer-Daniels-Midland Co0.17%
DR Horton Inc0.15%
Roper Technologies Inc0.15%
ResMed Inc0.14%
Vulcan Materials Co0.14%
Sunbelt Rentals Holdings Inc0.13%
Steel Dynamics Inc0.13%

Weight gaps

The 100 widest of 120 Holdings in both funds.

Holding weights in FVD and VIG, widest gap first
Holding	More in FVDMore in VIG	FVD	VIG
JPMorgan Chase & Co.JPM	VIG +3.50 points	0.41%	3.91%
ExxonMobil Holdings Corp.XOM	VIG +2.56 points	0.42%	2.98%
Johnson & JohnsonJNJ	VIG +2.42 points	0.42%	2.84%
AbbVie Inc.ABBV	VIG +1.64 points	0.42%	2.06%
Cisco Systems, Inc.CSCO	VIG +1.50 points	0.39%	1.89%
Bank of America CorporationBAC	VIG +1.16 points	0.41%	1.57%
Merck & Co., Inc.MRK	VIG +1.15 points	0.44%	1.59%
The Procter & Gamble CompanyPG	VIG +1.09 points	0.41%	1.50%
The Coca-Cola CompanyKO	VIG +1.06 points	0.42%	1.48%
The Home Depot, Inc.HD	VIG +0.84 points	0.42%	1.26%
The Goldman Sachs Group, Inc.GS	VIG +0.68 points	0.41%	1.09%
Morgan StanleyMS	VIG +0.59 points	0.41%	1.00%
Amgen Inc.AMGN	VIG +0.58 points	0.43%	1.01%
Linde PlcLIN	VIG +0.55 points	0.42%	0.97%
AptarGroup, Inc.ATR	FVD +0.41 points	0.44%	0.03%
The Marzetti CompanyMZTI	FVD +0.40 points	0.41%	<0.01%
California Water Service GroupCWT	FVD +0.41 points	0.42%	0.01%
American States Water CompanyAWR	FVD +0.41 points	0.42%	0.01%
Chesapeake Utilities CorporationCPK	FVD +0.40 points	0.41%	0.01%
Assured Guaranty Ltd.AGO	FVD +0.40 points	0.41%	0.01%
MGE Energy, Inc.MGEE	FVD +0.40 points	0.41%	0.01%
Brady CorporationBRC	FVD +0.39 points	0.41%	0.02%
IDACORP, Inc.IDA	FVD +0.40 points	0.43%	0.03%
Ingredion IncorporatedINGR	FVD +0.39 points	0.42%	0.03%
RLI Corp.RLI	FVD +0.39 points	0.41%	0.02%
Selective Insurance Group, Inc.SIGI	FVD +0.39 points	0.41%	0.02%
Dolby Laboratories, Inc.DLB	FVD +0.38 points	0.40%	0.02%
TXNM Energy Inc.TXNM	FVD +0.38 points	0.41%	0.03%
Amdocs LimitedDOX	FVD +0.38 points	0.41%	0.03%
The Hanover Insurance Group, Inc.THG	FVD +0.39 points	0.42%	0.03%
Gilead Sciences, Inc.GILD	VIG +0.38 points	0.44%	0.82%
Primerica, Inc.PRI	FVD +0.38 points	0.42%	0.04%
Franklin Electric Co., Inc.FELE	FVD +0.38 points	0.40%	0.02%
American Financial Group, Inc.AFG	FVD +0.38 points	0.42%	0.04%
Lincoln Electric Holdings, Inc.LECO	FVD +0.38 points	0.44%	0.06%
Old Republic International CorporationORI	FVD +0.37 points	0.41%	0.04%
RPM International Inc.RPM	FVD +0.37 points	0.43%	0.06%
MSA Safety IncorporatedMSA	FVD +0.37 points	0.40%	0.03%
Commerce Bancshares, Inc.CBSH	FVD +0.37 points	0.40%	0.03%
Essential Utilities, Inc.WTRG	FVD +0.37 points	0.42%	0.05%
National Fuel Gas CompanyNFG	FVD +0.37 points	0.40%	0.03%
Graco Inc.GGG	FVD +0.36 points	0.42%	0.06%
SEI Investments CompanySEIC	FVD +0.36 points	0.41%	0.05%
Jack Henry & Associates, Inc.JKHY	FVD +0.36 points	0.41%	0.05%
Assurant, Inc.AIZ	FVD +0.36 points	0.42%	0.06%
PepsiCo, Inc.PEP	VIG +0.35 points	0.42%	0.77%
Donaldson Company, Inc.DCI	FVD +0.36 points	0.40%	0.04%
Avery Dennison CorporationAVY	FVD +0.35 points	0.41%	0.06%
Alliant Energy CorporationLNT	FVD +0.35 points	0.42%	0.07%
Abbott LaboratoriesABT	VIG +0.34 points	0.42%	0.76%
PPG Industries, Inc.PPG	FVD +0.35 points	0.45%	0.10%
IDEX CorporationIEX	FVD +0.35 points	0.42%	0.07%
Reinsurance Group of America, IncorporatedRGA	FVD +0.34 points	0.41%	0.07%
NiSource Inc.NI	FVD +0.34 points	0.42%	0.08%
Nordson CorporationNDSN	FVD +0.33 points	0.41%	0.08%
Constellation Brands, Inc. (Class A)STZ	FVD +0.33 points	0.41%	0.08%
CMS Energy CorporationCMS	FVD +0.32 points	0.41%	0.09%
Snap-on IncorporatedSNA	FVD +0.33 points	0.41%	0.08%
Broadridge Financial Solutions, Inc.BR	FVD +0.33 points	0.41%	0.08%
Principal Financial Group, Inc.PFG	FVD +0.32 points	0.42%	0.10%
Church & Dwight Co., Inc.CHD	FVD +0.32 points	0.42%	0.10%
Steris PlcSTE	FVD +0.31 points	0.40%	0.09%
Quest Diagnostics IncorporatedDGX	FVD +0.32 points	0.43%	0.11%
Cincinnati Financial CorporationCINF	FVD +0.31 points	0.42%	0.11%
DTE Energy CompanyDTE	FVD +0.31 points	0.42%	0.11%
Dover CorporationDOV	FVD +0.31 points	0.42%	0.11%
McDonald's CorporationMCD	VIG +0.31 points	0.42%	0.73%
American Water Works Company, Inc.AWK	FVD +0.31 points	0.42%	0.11%
Union Pacific CorporationUNP	VIG +0.30 points	0.42%	0.72%
Ameren CorporationAEE	FVD +0.30 points	0.42%	0.12%
Atmos Energy CorporationATO	FVD +0.29 points	0.41%	0.12%
NextEra Energy, Inc.NEE	VIG +0.28 points	0.42%	0.70%
Cboe Global Markets, Inc.CBOE	FVD +0.28 points	0.41%	0.13%
Public Service Enterprise Group IncorporatedPEG	FVD +0.27 points	0.42%	0.15%
Hubbell IncorporatedHUBB	FVD +0.27 points	0.38%	0.11%
BlackRock, Inc.BLK	VIG +0.26 points	0.42%	0.68%
The Hartford Insurance Group, Inc.HIG	FVD +0.25 points	0.40%	0.15%
Sysco CorporationSYY	FVD +0.24 points	0.41%	0.17%
Xylem Inc.XYL	FVD +0.24 points	0.35%	0.11%
L3Harris Technologies, Inc.LHX	FVD +0.24 points	0.44%	0.20%
Nasdaq, Inc.NDAQ	FVD +0.24 points	0.42%	0.18%
Republic Services, Inc.RSG	FVD +0.23 points	0.41%	0.18%
Xcel Energy Inc.XEL	FVD +0.22 points	0.42%	0.20%
Entergy CorporationETR	FVD +0.21 points	0.42%	0.21%
Aflac IncorporatedAFL	FVD +0.20 points	0.42%	0.22%
State Street CorporationSTT	FVD +0.20 points	0.41%	0.21%
Becton, Dickinson and CompanyBDX	FVD +0.19 points	0.41%	0.22%
MetLife, Inc.MET	FVD +0.19 points	0.41%	0.22%
Aon Plc (Class A)AON	FVD +0.18 points	0.44%	0.26%
The Allstate CorporationALL	FVD +0.17 points	0.42%	0.25%
Arthur J. Gallagher & Co.AJG	FVD +0.16 points	0.42%	0.26%
Fastenal CompanyFAST	FVD +0.16 points	0.41%	0.25%
Air Products and Chemicals, Inc.APD	FVD +0.14 points	0.42%	0.28%
TE Connectivity PlcTEL	FVD +0.14 points	0.41%	0.27%
American Electric Power Company, Inc.AEP	FVD +0.12 points	0.41%	0.29%
Ecolab Inc.ECL	FVD +0.12 points	0.43%	0.31%
Colgate-Palmolive CompanyCL	FVD +0.12 points	0.42%	0.30%
Northrop Grumman CorporationNOC	FVD +0.11 points	0.40%	0.29%
Illinois Tool Works Inc.ITW	FVD +0.11 points	0.41%	0.30%
Honeywell International Inc.HON	FVD +0.11 points	0.41%	0.30%

All 241 FVD holdings⁠All 338 VIG 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 VIG Cost

Overpaying FVD vs VIG

$11,330

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

FVD 0.62%
$12,179
VIG 0.04%
$849

Amount$10,000

Years30 years

Cost over time

FVD 0.62%
VIG 0.04%
Overpaying

Year by year

Year	FVD	VIG	Overpaying
10	$1,111	$73	$1,038
20	$4,246	$288	$3,958
30	$12,179	$849	$11,330

Expense ratio

0.62%FVD
0.04%VIG, cheaper

VIG0.04%FVD0.62%

0.04%0.70%

Middle half of US Dividend Index funds
Median 0.35%

VIG cheapest of 52 funds

FVD 49th cheapest of 52 funds

FVD vs VIG Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FVD 2.21%, better; VIG 1.47%
Payout (12M): FVD $1.12; VIG $3.65
Last payment: FVD $0.26; VIG $0.93
Ex-dividend: FVD Sep 24, 2026; VIG Sep 28, 2026
Paid on: FVD Sep 30, 2026; VIG Sep 30, 2026
Frequency: FVD Quarterly; VIG Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FVDQuarterly · 39 paymentsAll FVD payments⁠

VIGQuarterly · 39 paymentsAll VIG payments⁠

FVD vs VIG Risk

Fall from peak · 5 years

Risk facts

VolatilityStd dev, 3 years: FVD 11.9%VIG 10.6%, better
Return per unit of riskSharpe ratio, 3 years: FVD 0.80VIG 1.33, better
Worst fallMax drawdown, 5 years: FVD −16.4%, betterVIG −20.4%
Market sensitivityBeta, 5 years: FVD 0.49VIG 0.82; Market = 1

FVD and VIG in the news

All news⁠

Best ETFs
For a rising dividend, iShares Core Dividend Growth ETF ranks first
Updated Nov 2, 2026VIG
New ETFs
Eventide lists two ETFs at 0.75% and 0.95% for strategies it already runs
Oct 30, 2026VIG
Head-to-Head
SCHD yields twice what VIG does. Over 10 years, VIG still leads.
Oct 22, 2026VIG
Best ETFs
Schwab's dividend ETF returned 22.8% in a year. Its income rate still trails a one-month bill.
Updated Oct 2, 2026VIG
First-Year Review
EASY's first year trailed the defensive index it names
Sep 30, 2026VIG
New ETFs
Raub Brock lists HQDG, an active dividend-growth ETF priced at 0.50%
Sep 8, 2026VIG

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FVD vs VIG

In short

Stated mandate

Why people hold it