SPYD vs UDIV: Grades, Fees and Holdings Compared

State Street SPDR Portfolio S&P 500 High Dividend ETF

SPYDANYSE Arca

Franklin U.S. Core Dividend Tilt Index ETF

UDIVBNYSE Arca

Overlap

14.1%by weight

Expense ratio

UDIV −0.01pt a year

SPYD0.07%UDIV0.06%

Avg volume · 30D

SPYD 118.7×the volume

SPYD1MUDIV8.45K

10Y return · a year

UDIV +3.3pt

SPYD+8.9%UDIV+12.2%

SPYD vs UDIV Performance

Oct 29, 2021 – Oct 30, 2026

+52.1%SPYD+91.5%UDIV

Expense ratio: SPYD 0.07%; UDIV 0.06%, better
Fund size: SPYD $7.61B; UDIV $158M
1Y total return: SPYD +20.6%, better; UDIV +15.5%
Yield (12M): SPYD 4.20%, better; UDIV 1.43%
Holdings: SPYD 81; UDIV 293
Avg volume (30D): SPYD 1M sh, better; UDIV 8.45K sh
NAV per share: SPYD $48.88; UDIV $60.65
52W range

ETF.net Grade

Pillar letters and Scores for SPYD, UDIV, with each pillar’s weight
Pillar	SPYD	UDIV
Cost30% weight	A88	A95Higher
Mission25% weight	A88	A100Higher
Risk15% weight	C40	C43Higher
Tradability15% weight	A92Higher	D25
Holdings10% weight	A73Higher	C42
Durability5% weight	A83Higher	C54

Rank among US Dividend Index funds

How we build Categories ›

Same Category. SPYD and UDIV 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 UDIV 11th 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 11AHDViShares Core High Dividend ETFScore 70
Rank 11BUDIVFranklin U.S. Core Dividend Tilt Index ETFScore 70
Rank 13BDVYiShares Select Dividend ETFScore 69

Our read on each fund

ETF.net Research

SPYDAState Street SPDR Portfolio S&P 500 High Dividend ETF

UDIVBFranklin U.S. Core Dividend Tilt Index 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.

UDIV Most dividend funds throw out the market and keep the payers. UDIV keeps the market and leans it: an optimizer nudges a broad US index toward higher yield while staying tethered to it. Income tilt, index shape.

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.

UDIV The Fund seeks investment results that closely correspond, before fees and expenses, to the performance of the Morningstar US Dividend Enhanced Select Index.

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.

UDIV Six basis points, in a category where the typical fund charges 0.39%. That matches SCHD and undercuts DGRO, the shelf's best-known names.franklintempleton.com
Roughly 140 stocks selected by an optimizer built to maximize yield per unit of active risk against the broad market, not by simply ranking companies on payout.franklintempleton.com
Plain index plumbing: it follows the Morningstar US Dividend Enhanced Select Index with one of the tightest label-to-portfolio matches in its peer group. No side bets bolted on.
Running since 2016 and paying quarterly, which puts it among the stronger implementations in the US dividend-screen crowd.

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.

UDIV Thinly traded and modest in size, so bid-ask spreads can run wider than at the household-name dividend ETFs.
A tilt, not a yield hunt. The index limits how far it drifts from the broad market, which also limits how much extra income the tilt can add.franklintempleton.com
Fully invested in US stocks with no downside cushion. The dividend tilt shapes the payout, not the drawdown.

Full SPYD profile⁠

Full UDIV profile⁠

SPYD vs UDIV Holdings

How SPYD and UDIV differ

Overlap by weight

14.1%

Shared holdings make up 67.1% of SPYD and 14.1% of UDIV.

Level by level

Holdings53 in both14.1%
Sector11 Sectors50.2%
Countryby domicile97.6%
Asset classEquity100%

Sector

Sector weights in SPYD and UDIV, widest gap first
Sector	More in SPYDMore in UDIV	SPYD	UDIV
Technology	UDIV +37.9 points	4.0%	41.9%
Real Estate	SPYD +21.1 points	24.4%	3.3%
Consumer Staples	SPYD +8.8 points	14.0%	5.2%
Utilities	SPYD +8.6 points	10.9%	2.3%
Materials	SPYD +6.8 points	7.5%	0.7%
Communication	UDIV +4.9 points	5.1%	10.0%
Health Care	UDIV +3.6 points	4.4%	8.0%
Consumer Discretionary	UDIV +3.1 points	5.4%	8.5%
Energy	SPYD +2.3 points	5.8%	3.5%
Financials	SPYD +2.2 points	13.3%	11.1%
Industrials	UDIV +0.3 points	5.2%	5.5%

Country, concentration and asset class

Country by domicile

Country weights in SPYD and UDIV, widest gap first
Country	More in SPYDMore in UDIV	SPYD	UDIV
United States	UDIV +1.9 points	97.4%	99.3%
United Kingdom	SPYD +1.3 points	1.4%	0.1%
Ireland	SPYD +1.1 points	1.2%	0.1%
Other countries (4)	UDIV +0.5 points	0.0%	0.5%

Concentration

Weight in the 10 largest Holdings

SPYD16.2%
UDIV36.3%

Securities held

SPYD79
UDIV290

Asset class

SPYD: Equity
UDIV: Equity

Holdings

Only in SPYD26
In both53
Only in UDIV237

Only in SPYD

26 securities, 32.6% of SPYD by weight

Accenture PLC Class A2.27%
Hasbro Inc1.73%
Medtronic PLC1.53%
Stanley Black & Decker Inc1.49%
Best Buy Co Inc1.48%
Jm Smucker Co/The1.38%
Host Hotels & Resorts Inc1.35%
Lyondellbasell Indu Class A1.35%
Kenvue Inc1.32%
Pinnacle West Capital1.29%
Aes Corp1.29%
Franklin Templeton Inc1.29%
Smurfit Westrock PLC1.23%
Bxp Inc1.20%
Clorox Company1.19%
Regency Centers Corp1.17%
Vivmark Residential1.16%
Mccormick & Co Non Vtg Shrs1.16%
Camden Property Trust1.16%
Udr Inc1.15%
Federal Realty Invs Trust1.14%
Healthpeak Properties Inc1.09%
Hormel Foods Corp1.06%
Alexandria Real Estate Equit1.05%
Mosaic Co/The1.03%
S+P500 Emini Fut DEC26<0.01%

Only in UDIV

237 securities, 85.8% of UDIV by weight

Apple Inc7.55%
NVIDIA Corp6.96%
Microsoft Corp6.13%
Amazon.com Inc3.58%
Broadcom Inc2.54%
Alphabet Inc-Cl A2.43%
Alphabet Inc-Cl C1.95%
Meta Platforms Inc-Class1.87%
Tesla Inc1.75%
Eli Lilly & Co1.59%
Micron Technology Inc1.46%
JPMorgan Chase & Co1.44%
Advanced Micro Devices1.28%
Exxonmobil Holdings Corp1.14%
AbbVie Inc1.09%
Home Depot Inc0.91%
Johnson & Johnson0.83%
Philip Morris Internation0.75%
Texas Instruments Inc0.71%
Merck & Co. Inc.0.70%
Palantir Technologies Inc0.69%
Cisco Systems Inc0.67%
Accenture Plc-Cl A0.66%
Progressive Corp0.63%
Morgan Stanley0.61%
BlackRock Inc0.61%
Procter & Gamble Co/The0.60%
UnitedHealth Group Inc0.59%
Bank of America Corp0.57%
Coca-Cola Co/The0.55%
Amgen Inc0.54%
Visa Inc-Class A Shares0.53%
Analog Devices Inc0.52%
Prologis Inc0.52%
Intl Business Machines Co0.52%
Cme Group Inc0.51%
Automatic Data Processing0.50%
Medtronic PLC0.50%
Lam Research Corp0.50%
Goldman Sachs Group Inc0.49%
Applied Materials Inc0.49%
Starbucks Corp0.45%
Palo Alto Networks Inc0.45%
Intel Corp0.43%
Citigroup Inc0.42%
Pnc Financial Services Gr0.41%
Crowdstrike Holdings Inc0.41%
Wells Fargo & Co0.40%
Qualcomm Inc0.39%
Gilead Sciences Inc0.38%

Weight gaps

All 53 Holdings in both funds, largest gap first.

Holding weights in SPYD and UDIV, widest gap first
Holding	More in SPYDMore in UDIV	SPYD	UDIV
Hp IncHPQ	SPYD +1.52 points	1.63%	0.11%
Crown Castle IncCCI	SPYD +1.30 points	1.48%	0.18%
Amcor PLCAMCR	SPYD +1.30 points	1.40%	0.10%
Dow IncDOW	SPYD +1.26 points	1.38%	0.12%
Ares Management Corp AARES	SPYD +1.24 points	1.37%	0.13%
Omnicom GroupOMC	SPYD +1.20 points	1.31%	0.11%
Extra Space Storage IncEXR	SPYD +1.19 points	1.33%	0.14%
Evergy IncEVRG	SPYD +1.18 points	1.27%	0.09%
Kimco Realty CorpKIM	SPYD +1.12 points	1.20%	0.08%
International Paper CoIP	SPYD +1.12 points	1.21%	0.09%
KeycorpKEY	SPYD +1.11 points	1.20%	0.09%
Eog Resources IncEOG	SPYD +1.11 points	1.45%	0.34%
Firstenergy CorpFE	SPYD +1.10 points	1.22%	0.12%
Regions Financial CorpRF	SPYD +1.09 points	1.20%	0.11%
Paychex IncPAYX	SPYD +1.10 points	1.27%	0.17%
Invitation Homes IncINVH	SPYD +1.09 points	1.16%	0.07%
Target CorpTGT	SPYD +1.10 points	1.42%	0.32%
Mid America Apartment CommMAA	SPYD +1.10 points	1.16%	0.06%
Fidelity National Info ServFIS	SPYD +1.09 points	1.18%	0.09%
Essex Property Trust IncESS	SPYD +1.08 points	1.16%	0.08%
Prudential Financial IncPRU	SPYD +1.09 points	1.27%	0.18%
T Rowe Price Group IncTROW	SPYD +1.08 points	1.18%	0.10%
Kraft Heinz Co/TheKHC	SPYD +1.08 points	1.18%	0.10%
Duke Energy CorpDUK	SPYD +1.08 points	1.27%	0.19%
General Mills IncGIS	SPYD +1.07 points	1.16%	0.09%
Oneok IncOKE	SPYD +1.06 points	1.34%	0.28%
Vici Properties IncVICI	SPYD +1.06 points	1.19%	0.13%
Eversource EnergyES	SPYD +1.05 points	1.17%	0.12%
Exelon CorpEXC	SPYD +1.06 points	1.27%	0.21%
Public StoragePSA	SPYD +1.05 points	1.31%	0.26%
American Tower CorpAMT	SPYD +1.03 points	1.44%	0.41%
Kinder Morgan IncKMI	SPYD +1.04 points	1.35%	0.31%
Kimberly Clark CorpKMB	SPYD +1.00 points	1.30%	0.30%
Huntington Bancshares IncHBAN	SPYD +0.98 points	1.12%	0.14%
Truist Financial CorpTFC	SPYD +0.96 points	1.23%	0.27%
Nike Inc Class BNKE	SPYD +0.96 points	1.17%	0.21%
Dominion Energy IncD	SPYD +0.92 points	1.18%	0.26%
Simon Property Group IncSPG	SPYD +0.91 points	1.23%	0.32%
Honeywell International IncHON	SPYD +0.90 points	1.23%	0.33%
Ford Motor CoF	SPYD +0.89 points	1.10%	0.21%
Realty Income CorpO	SPYD +0.88 points	1.12%	0.24%
Edison InternationalEIX	SPYD +0.85 points	0.95%	0.10%
Comcast Corp Class ACMCSA	SPYD +0.84 points	1.22%	0.38%
Blackstone IncBX	SPYD +0.83 points	1.26%	0.43%
United Parcel Service Class BUPS	SPYD +0.81 points	1.19%	0.38%
Us BancorpUSB	SPYD +0.79 points	1.21%	0.42%
Altria Group IncMO	SPYD +0.77 points	1.37%	0.60%
Pfizer IncPFE	SPYD +0.74 points	1.55%	0.81%
Bristol Myers Squibb CoBMY	SPYD +0.71 points	1.30%	0.59%
At+t IncT	SPYD +0.62 points	1.17%	0.55%
Pepsico IncPEP	SPYD +0.59 points	1.27%	0.68%
Verizon Communications IncVZ	SPYD +0.53 points	1.27%	0.74%
Chevron CorpCVX	SPYD +0.42 points	1.54%	1.12%

All 78 SPYD holdings⁠All UDIV 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.

SPYD vs UDIV Cost

Overpaying SPYD vs UDIV

$210

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

SPYD 0.07%
$1,480
UDIV 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

SPYD 0.07%
UDIV 0.06%
Overpaying

Year by year

Year	SPYD	UDIV	Overpaying
10	$128	$110	$18
20	$503	$432	$71
30	$1,480	$1,270	$210

Expense ratio

0.07%SPYD
0.06%UDIV, cheaper

UDIV0.06%SPYD0.07%

0.04%0.70%

Middle half of US Dividend Index funds
Median 0.35%

UDIV 4th cheapest of 52 funds

SPYD 6th cheapest of 52 funds

SPYD vs UDIV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): SPYD 4.20%, better; UDIV 1.43%
Payout (12M): SPYD $2.06; UDIV $0.87
Last payment: SPYD $0.52; UDIV $0.18
Ex-dividend: SPYD Sep 21, 2026; UDIV Sep 18, 2026
Paid on: SPYD Sep 23, 2026; UDIV Sep 25, 2026
Frequency: SPYD Quarterly; UDIV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

SPYDQuarterly · 39 paymentsAll SPYD payments⁠

UDIVQuarterly · 38 paymentsAll UDIV payments⁠

SPYD vs UDIV Risk

Fall from peak · 5 years

SPYD
UDIV

Risk facts

VolatilityStd dev, 3 years: SPYD 14.5%UDIV 12.7%, better
Return per unit of riskSharpe ratio, 3 years: SPYD 0.96UDIV 1.56, better
Worst fallMax drawdown, 5 years: SPYD −22.2%, betterUDIV −23.2%
Market sensitivityBeta, 5 years: SPYD 0.64UDIV 1.02; Market = 1

SPYD and UDIV 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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SPYD vs UDIV

In short

Stated mandate

Why people hold it

Worth knowing

How SPYD and UDIV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in SPYD

Only in UDIV

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 SPYD and UDIV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in SPYD

Only in UDIV

Weight gaps