Dividend comparison

FDVV vs VOO: Which Is Better?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Fidelity High Dividend ETF and Vanguard S&P 500 ETF, side by side. Updated October 21, 2026.

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FDVV vs VOO: key differences
The short answer, from the latest data on this page.
  • Fees. VOO is cheaper at 0.03% a year versus 0.15% for FDVV. On $10,000 that is $12 a year less in fees.
  • Income. FDVV pays more income, yielding 2.77% over the last twelve months versus 1.05% for VOO. That is about $172 more a year on $10,000. FDVV pays monthly, VOO pays quarterly.
  • Performance. Over the last 5 years, VOO returned 81.8% versus 80.6% for FDVV, with dividends reinvested. $10,000 would have grown to $18,178 in VOO and $18,061 in FDVV.
  • Risk. VOO has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -24.5%, against -20.2% for FDVV.
  • Diversification. VOO holds 505 positions and FDVV holds 119. The ten largest positions make up 36.5% of FDVV and 39.1% of VOO.
  • Overlap. At least 37% of the two portfolios overlap by weight, across 37 shared holdings.
  • Dividend growth. FDVV grew its yearly payout 10.7% a year over the last 4 years, versus 6.8% for VOO.
  • Size. VOO is the larger fund with $1.7 trillion in assets, against $10.2 billion for FDVV.

Bottom line: FDVV fits better if you care most about more income today, smaller drawdowns and faster dividend growth. VOO 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.
MetricFDVV
Fidelity High Dividend ETF
VOO
Vanguard S&P 500 ETF
Dividend yield (TTM)2.77%1.05%
Dividend / share (TTM)$1.71$7.43
Payout frequencyMonthlyQuarterly
Last dividend$0.3620 on Sep 22, 2026$1.8226 on Sep 30, 2026
Ex-dividend dateSep 18, 2026Sep 28, 2026
Dividend growth (CAGR)10.7% over 4 yrs6.8% over 4 yrs
Price$61.84$706.80
Dividend growth streak1 year5 years
Beta0.781.01
Max drawdown (5Y)-20.2%-24.5%
Market cap$10.17B$1.70T
ExchangeAMEXAMEX
Expense ratio0.15%0.03%
Assets under management$10.17B$1.70T
Number of holdings119505
Top 10 concentration36.5%39.1%
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

FDVV

$23.10/mo

$277 /yr at 2.77% yield

VOO

$8.76/mo

$105 /yr at 1.05% yield

Dividend history
Total dividends paid per share in each calendar year. FDVV pays monthly; VOO pays quarterly.
YearFDVVVOO
2025$1.6360$7.0678
2024$1.4700$6.7035
2023$1.5920$6.3572
2022$1.2830$5.9467
2021$1.0880$5.4367
Strategy: Broad index
Low-cost funds that hold an entire market or index at market-cap weights and make no attempt to select securities. Return is the index return less a small fee, and dividends are a by-product of what the underlying companies choose to pay rather than an objective of the strategy. Differences between funds tracking the same index usually come down to fee, wrapper structure, share price and trading liquidity, not to holdings.

Current income is low and outside your control, so these need pairing with something else if the portfolio has to produce cash today.

What FDVV vs VOO actually do

VOO
Vanguard's S&P 500 tracker, holding the 500 large-cap US companies in the index at their market-cap weights.

It replicates the index in full and makes no attempt to pick winners, so its return is the index return less a very small fee. As an open-end fund it can lend securities and put incoming dividends back to work inside the portfolio between the quarterly payment dates. Dividends are whatever the underlying companies happen to pay, which means yield is an output of the strategy and never a target of it.

Suits almost any long-horizon US equity allocation, including as the growth engine sitting behind higher-yielding income positions. Not a fit for someone whose portfolio needs to produce meaningful current cash flow.

Core holding

Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 20, 2021 would now be worth $18,061 in FDVV and $18,178 in VOO.
PeriodFDVVVOO
1 month-0.32%0.97%
3 months-0.51%3.87%
Year to date9.08%13.68%
1 year10.45%15.84%
3 years73.46%89.23%
5 years80.61%81.78%
  • FDVV
  • VOO
73134195202120222023202420252026181182

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.
  • FDVV
  • VOO
0%10%20%30%40%Technology31.7%40.5%Information Technology31.2%Financial Services18.4%11.1%Consumer Cyclical11.8%8.8%Financials19.4%Consumer Defensive10.9%4.3%Communication Services3.5%9.9%Healthcare3.5%9.3%Consumer Discretionary11.7%Industrials3.6%7.5%Other30.3%8.6%
FDVV vs VOO holdings overlap
At least 37% overlap by weight, with 37 holdings in common. Overlap adds up the smaller of the two weights for every stock both funds own, so 100% would mean identical portfolios.
Largest shared holdingsFDVV weightVOO weight
NVDANVIDIA CORP7.21%8.39%
AAPLAPPLE INC7.06%7.38%
MSFTMICROSOFT CORP5.72%5.78%
AVGOBROADCOM INC2.70%2.54%
GOOGLALPHABET INC CL A1.92%3.07%
JPMJPMORGAN CHASE & CO2.74%1.33%
METAMETA PLATFORMS INC CL A0.85%2.43%
LLYELI LILLY & CO0.73%1.41%
JNJJOHNSON & JOHNSON0.54%0.97%
BACBANK OF AMERICA CORPORATION1.67%0.54%
Top 10 holdings
Largest positions by portfolio weight.

FDVV119 holdings total

NameWeight
NVDANVIDIA CORP7.21%
AAPLAPPLE INC7.06%
MSFTMICROSOFT CORP5.72%
DELLDELL TECHNOLOGIES INC CL C3.05%
JPMJPMORGAN CHASE & CO2.74%
AVGOBROADCOM INC2.70%
KOCOCA COLA CO2.16%
PMPHILIP MORRIS INTL INC1.99%
GOOGLALPHABET INC CL A1.92%
PGPROCTER & GAMBLE CO1.91%

VOO505 holdings total

NameWeight
NVDANVIDIA Corp8.39%
AAPLApple Inc7.38%
MSFTMicrosoft Corp5.78%
AMZNAmazon.com Inc3.71%
GOOGLAlphabet Inc3.07%
AVGOBroadcom Inc2.54%
GOOGAlphabet Inc2.45%
METAMeta Platforms Inc2.43%
MUMicron Technology Inc1.83%
TSLATesla Inc1.52%

Quick verdict

FDVV fits better if you care most about more income today, smaller drawdowns and faster dividend growth. VOO fits better if you care most about lower fees and broader diversification. Model the holding inside your real portfolio before deciding.

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Frequently asked questions

Is FDVV or VOO better for dividend income?
It depends on your goals. FDVV currently yields 2.77% Trailing Twelve Months (TTM) while VOO yields 1.05%. 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 FDVV and VOO?
Fidelity High Dividend ETF (FDVV) is an ETF listed on AMEX. Vanguard S&P 500 ETF (VOO) 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, FDVV or VOO?
VOO has the lower expense ratio. FDVV charges 0.15% a year and VOO charges 0.03%, a difference of $12 a year on a $10,000 investment.
Which has performed better, FDVV or VOO?
Over the last 5 years, VOO has the higher total return with dividends reinvested: FDVV returned 80.6% and VOO returned 81.8%. Past performance does not predict future returns.
Which is riskier, FDVV or VOO?
Measured by the worst peak-to-trough decline over the last five years, VOO has been riskier: FDVV fell as much as 20.2% and VOO as much as 24.5%. Their betas are 0.78 and 1.01.
How much do FDVV and VOO overlap?
At least 37% of the two portfolios overlap by weight, across 37 shared holdings. The largest shared positions are NVDA, AAPL, MSFT. Holding both still adds meaningful diversification.
How often do FDVV and VOO pay dividends?
FDVV pays monthly and VOO pays quarterly.
How much income does $10,000 in FDVV vs VOO generate?
At current TTM yields, $10,000 in FDVV would generate roughly $23.10 per month ($277 annually). The same amount in VOO would produce about $8.76 per month ($105 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both FDVV and VOO?
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 FDVV vs VOO with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how FDVV and VOO 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.