Dividend comparison
SPYD vs SDY: Which Is Better for Income?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for State Street SPDR Portfolio S&P 500 High Dividend ETF and State Street SPDR S&P Dividend ETF, side by side. Updated October 21, 2026.
SPYD vs SDY: key differences
The short answer, from the latest data on this page.
- Fees. SPYD is cheaper at 0.07% a year versus 0.35% for SDY. On $10,000 that is $28 a year less in fees.
- Income. SPYD pays more income, yielding 4.33% over the last twelve months versus 2.42% for SDY. That is about $191 more a year on $10,000. Both pay quarterly.
- Performance. Over the last 5 years, SDY returned 40.4% versus 38.0% for SPYD, with dividends reinvested. $10,000 would have grown to $14,037 in SDY 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 -15.2% for SDY.
- Diversification. SDY holds 155 positions and SPYD holds 78. The ten largest positions make up 16.4% of SPYD and 20.7% of SDY.
- Overlap. At least 24% of the two portfolios overlap by weight, across 23 shared holdings.
- Dividend growth. SPYD grew its yearly payout 6.0% a year over the last 4 years, versus 1.7% for SDY.
- Size. SDY is the larger fund with $21.5 billion in assets, against $7.3 billion for SPYD.
Bottom line: SPYD fits better if you care most about lower fees, more income today and faster dividend growth. SDY fits better if you care most about stronger 5-year returns, smaller drawdowns and broader diversification.
Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
| Metric | SPYD State Street SPDR Portfolio S&P 500 High Dividend ETF | SDY State Street SPDR S&P Dividend ETF |
|---|---|---|
| Dividend yield (TTM) | 4.33% | 2.42% |
| Dividend / share (TTM) | $2.06 | $3.78 |
| Payout frequency | Quarterly | Quarterly |
| Last dividend | $0.5178 on Sep 23, 2026 | $0.9168 on Sep 23, 2026 |
| Ex-dividend date | Sep 21, 2026 | Sep 21, 2026 |
| Dividend growth (CAGR) | 6.0% over 4 yrs | 1.7% over 4 yrs |
| Price | $47.60 | $156.10 |
| Dividend growth streak | 2 years | 3 years |
| Beta | 0.64 | 0.58 |
| Max drawdown (5Y) | -22.2% | -15.2% |
| Market cap | $7.34B | $21.52B |
| Exchange | AMEX | AMEX |
| Expense ratio | 0.07% | 0.35% |
| Assets under management | $7.26B | $21.52B |
| Number of holdings | 78 | 155 |
| Top 10 concentration | 16.4% | 20.7% |
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.
SPYD
$36.06/mo
$433 /yr at 4.33% yield
SDY
$20.16/mo
$242 /yr at 2.42% yield
Dividend history
Total dividends paid per share in each calendar year. SPYD pays quarterly; SDY pays quarterly.
| Year | SPYD | SDY |
|---|---|---|
| 2025 | $1.9570 | $3.6342 |
| 2024 | $1.8637 | $3.3824 |
| 2023 | $1.8276 | $3.2981 |
| 2022 | $1.9833 | $3.1952 |
| 2021 | $1.5492 | $3.3913 |
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.
Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 20, 2021 would now be worth $13,797 in SPYD and $14,037 in SDY.
| Period | SPYD | SDY |
|---|---|---|
| 1 month | 1.13% | 4.16% |
| 3 months | -3.62% | 0.83% |
| Year to date | 10.06% | 12.17% |
| 1 year | 9.07% | 11.40% |
| 3 years | 54.50% | 47.14% |
| 5 years | 37.97% | 40.37% |
- SPYD
- SDY
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.
- SPYD
- SDY
SPYD vs SDY holdings overlap
At least 24% overlap by weight, with 23 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 holdings | SPYD weight | SDY weight |
|---|---|---|
| ACNACCENTURE PLC CL A | 2.27% | 3.71% |
| CVXCHEVRON CORP | 1.56% | 2.16% |
| MDTMEDTRONIC PLC | 1.52% | 1.84% |
| TGTTARGET CORP | 1.49% | 1.69% |
| VZVERIZON COMMUNICATIONS INC | 1.34% | 2.92% |
| KVUEKENVUE INC | 1.33% | 1.53% |
| PEPPEPSICO INC | 1.32% | 1.83% |
| KMBKIMBERLY CLARK CORP | 1.30% | 1.49% |
| NKENIKE INC CL B | 1.18% | 1.52% |
| OREALTY INCOME CORP | 1.14% | 1.95% |
Top 10 holdings
Largest positions by portfolio weight.
SPYD78 holdings total
Quick verdict
SPYD fits better if you care most about lower fees, more income today and faster dividend growth. SDY fits better if you care most about stronger 5-year returns, smaller drawdowns 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 SPYD vs SDY fits with the rest of your holdings. Free to start — no credit card required for the trial.
Frequently asked questions
Is SPYD or SDY better for dividend income?
It depends on your goals. SPYD currently yields 4.33% Trailing Twelve Months (TTM) while SDY yields 2.42%. 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 SPYD and SDY?
State Street SPDR Portfolio S&P 500 High Dividend ETF (SPYD) is an ETF listed on AMEX. State Street SPDR S&P Dividend ETF (SDY) 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, SPYD or SDY?
SPYD has the lower expense ratio. SPYD charges 0.07% a year and SDY charges 0.35%, a difference of $28 a year on a $10,000 investment.
Which has performed better, SPYD or SDY?
Over the last 5 years, SDY has the higher total return with dividends reinvested: SPYD returned 38.0% and SDY returned 40.4%. Past performance does not predict future returns.
Which is riskier, SPYD or SDY?
Measured by the worst peak-to-trough decline over the last five years, SPYD has been riskier: SPYD fell as much as 22.2% and SDY as much as 15.2%. Their betas are 0.64 and 0.58.
How much do SPYD and SDY overlap?
At least 24% of the two portfolios overlap by weight, across 23 shared holdings. The largest shared positions are ACN, CVX, MDT. Holding both still adds meaningful diversification.
How often do SPYD and SDY pay dividends?
Both pay quarterly. The most recent payments were $0.5178 for SPYD and $0.9168 for SDY.
How much income does $10,000 in SPYD vs SDY generate?
At current TTM yields, $10,000 in SPYD would generate roughly $36.06 per month ($433 annually). The same amount in SDY would produce about $20.16 per month ($242 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both SPYD and SDY?
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 SPYD vs SDY with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how SPYD and SDY 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.