Dividend comparison

DIVO vs SPYD: Which Is Better for Income?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Amplify CWP Enhanced Dividend Income ETF and State Street SPDR Portfolio S&P 500 High Dividend ETF, side by side. Updated October 21, 2026.

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DIVO vs SPYD: key differences
The short answer, from the latest data on this page.
  • Fees. SPYD is cheaper at 0.07% a year versus 0.56% for DIVO. On $10,000 that is $49 a year less in fees.
  • Income. DIVO pays more income, yielding 6.28% over the last twelve months versus 4.33% for SPYD. That is about $195 more a year on $10,000. Both pay quarterly.
  • Performance. Over the last 5 years, DIVO returned 59.6% versus 38.0% for SPYD, with dividends reinvested. $10,000 would have grown to $15,959 in DIVO and $13,797 in SPYD.
  • Risk. SPYD has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -22.2%, against -13.7% for DIVO.
  • Diversification. SPYD holds 78 positions and DIVO holds 30.
  • Dividend growth. DIVO grew its yearly payout 11.9% a year over the last 4 years, versus 6.0% for SPYD.

Bottom line: DIVO fits better if you care most about more income today, stronger 5-year returns, smaller drawdowns and faster dividend growth. SPYD fits better if you care most about lower fees and broader diversification.

Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
MetricDIVO
Amplify CWP Enhanced Dividend Income ETF
SPYD
State Street SPDR Portfolio S&P 500 High Dividend ETF
Dividend yield (TTM)6.28%4.33%
Dividend / share (TTM)$3.02$2.06
Payout frequencyQuarterlyQuarterly
Last dividend$0.1890 on Sep 30, 2026$0.5178 on Sep 23, 2026
Ex-dividend dateSep 29, 2026Sep 21, 2026
Dividend growth (CAGR)11.9% over 4 yrs6.0% over 4 yrs
Price$48.02$47.60
Dividend growth streak3 years2 years
Beta0.560.64
Max drawdown (5Y)-13.7%-22.2%
Market cap$8.01B$7.34B
ExchangeAMEXAMEX
Expense ratio0.56%0.07%
Assets under management$7.99B$7.26B
Number of holdings3078
Top 10 concentration—16.4%
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

DIVO

$52.35/mo

$628 /yr at 6.28% yield

SPYD

$36.06/mo

$433 /yr at 4.33% yield

Dividend history
Total dividends paid per share in each calendar year. DIVO pays quarterly; SPYD pays quarterly.
YearDIVOSPYD
2025$2.8660$1.9570
2024$1.9013$1.8637
2023$1.7085$1.8276
2022$1.7074$1.9833
2021$1.8280$1.5492
Strategy: Dividend equity
Rules-based equity funds that screen for companies paying sustainable or rising dividends, aiming at income plus long-term share-price participation. The screen is what defines the fund: yield-ranked indexes deliver more cash now, dividend-growth indexes deliberately exclude the highest payers in favor of durability. Both approaches produce a sector mix that looks nothing like the broad market, typically heavier in financials, healthcare, staples and industrials.

Expect stretches of underperformance versus the broad market whenever leadership comes from the high-growth, low-yield companies these screens exclude.

What DIVO vs SPYD actually do

DIVO
An actively managed ETF holding a concentrated set of blue-chip dividend payers with calls written selectively on individual positions.

The manager runs a hand-picked book of roughly 20 to 30 large-cap dividend stocks rather than tracking an index. Instead of keeping every position covered, calls are written tactically on single names, typically when a holding has run up or its implied volatility is elevated. That preserves far more upside than a blanket index overwrite, but it makes option income lumpy and puts the outcome on manager judgment rather than a published rule.

Suits an investor who wants dividend income lifted by option premium without surrendering most of the appreciation. Less suitable for anyone who wants a fully rules-based product, the lowest fee, or the highest available distribution rate.

Moderate income with growth

Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 20, 2021 would now be worth $15,959 in DIVO and $13,797 in SPYD.
PeriodDIVOSPYD
1 month1.37%1.13%
3 months3.58%-3.62%
Year to date7.91%10.06%
1 year8.28%9.07%
3 years54.45%54.50%
5 years59.59%37.97%
  • DIVO
  • SPYD
83126168202120222023202420252026160138

Both series indexed to 100 on 2021-10-20 using the adjusted closing price series. Past performance does not guarantee future results.

Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
  • DIVO
  • SPYD
0%6%12%18%24%Financial Services24.1%13.3%Real Estate24.4%Technology17.9%3.9%Consumer Defensive6.3%14.2%Industrials12.7%5.1%Healthcare12.1%4.4%Basic Materials5.8%7.5%Energy7.4%5.8%Utilities2.0%10.9%Consumer Cyclical6.9%5.2%Other4.7%5.3%
Top 10 holdings
Largest positions by portfolio weight.

SPYD78 holdings total

NameWeight
ACNACCENTURE PLC CL A2.27%
PSXPHILLIPS 661.71%
HPQHP INC1.62%
PFEPFIZER INC1.59%
APAAPA CORP1.57%
VTRSVIATRIS INC1.56%
CVXCHEVRON CORP1.56%
IRMIRON MOUNTAIN INC1.53%
MDTMEDTRONIC PLC1.52%
TGTTARGET CORP1.49%

Quick verdict

DIVO fits better if you care most about more income today, stronger 5-year returns, smaller drawdowns and faster dividend growth. SPYD fits better if you care most about lower fees and broader diversification. Model the holding inside your real portfolio before deciding.

Still deciding? Compare them in your portfolio
Forecast dividend income, track payouts, and see how DIVO vs SPYD fits with the rest of your holdings. Free to start — no credit card required for the trial.
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Frequently asked questions

Is DIVO or SPYD better for dividend income?
It depends on your goals. DIVO currently yields 6.28% Trailing Twelve Months (TTM) while SPYD yields 4.33%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between DIVO and SPYD?
Amplify CWP Enhanced Dividend Income ETF (DIVO) is an ETF listed on AMEX. State Street SPDR Portfolio S&P 500 High Dividend ETF (SPYD) is an ETF listed on AMEX. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, DIVO or SPYD?
SPYD has the lower expense ratio. DIVO charges 0.56% a year and SPYD charges 0.07%, a difference of $49 a year on a $10,000 investment.
Which has performed better, DIVO or SPYD?
Over the last 5 years, DIVO has the higher total return with dividends reinvested: DIVO returned 59.6% and SPYD returned 38.0%. Past performance does not predict future returns.
Which is riskier, DIVO or SPYD?
Measured by the worst peak-to-trough decline over the last five years, SPYD has been riskier: DIVO fell as much as 13.7% and SPYD as much as 22.2%. Their betas are 0.56 and 0.64.
How often do DIVO and SPYD pay dividends?
Both pay quarterly. The most recent payments were $0.1890 for DIVO and $0.5178 for SPYD.
How much income does $10,000 in DIVO vs SPYD generate?
At current TTM yields, $10,000 in DIVO would generate roughly $52.35 per month ($628 annually). The same amount in SPYD would produce about $36.06 per month ($433 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both DIVO and SPYD?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare DIVO vs SPYD with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how DIVO and SPYD fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.

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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.