SPYD vs TMDV

SPYDAState Street SPDR Portfolio S&P 500 High Dividend ETF

TMDVCProShares Russell U.S. Dividend Growers ETF

In short

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.

TMDV A dividend fund built around a longevity test: TMDV holds roughly 60 U.S. companies with long unbroken records of raising their payouts, drawn from the full Russell 3000 rather than only the mega-cap crowd.

Stated mandate

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.

TMDV TMDV seeks to track, before fees and expenses, the Russell 3000 Dividend Elite Index, which selects U.S. companies with long records of annual dividend increases.

Why people hold it

• 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.

• TMDV The screen is the whole story: only U.S. companies with long records of annual dividend increases make the Russell 3000 Dividend Elite Index.proshares.com
• At 0.35%, it undercuts the typical fund in its dividend-screen peer group.
• About 60 names pulled from the whole Russell 3000, so mid-sized dividend raisers can qualify, not just the usual large-cap payers.proshares.com
• Rules-based and legible: one published index, quarterly distributions, and a portfolio that has stayed close to that stated mandate since the 2019 launch.

Worth knowing

• 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.

• TMDV Small asset base and thin trading volume, so the cost of getting in and out can matter more here than with the category's heavyweights.
• 0.35% is several times what the largest dividend-growth funds charge: VIG, SCHD and DGRO all sit under a tenth of a percent.
• With roughly 60 holdings, single names and sector tilts carry real weight next to broad dividend funds that own hundreds of stocks.

Full SPYD profile⁠

Full TMDV profile⁠