Dividend comparison

VIG vs HDV: Which Is Better for Income?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Vanguard Dividend Appreciation ETF and iShares Core High Dividend ETF, side by side. Updated October 21, 2026.

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VIG vs HDV: key differences
The short answer, from the latest data on this page.
  • Fees. VIG is cheaper at 0.04% a year versus 0.08% for HDV. On $10,000 that is $4 a year less in fees.
  • Income. HDV pays more income, yielding 2.83% over the last twelve months versus 1.50% for VIG. That is about $133 more a year on $10,000. Both pay quarterly.
  • Performance. Over the last 5 years, HDV returned 82.2% versus 61.4% for VIG, with dividends reinvested. $10,000 would have grown to $18,215 in HDV and $16,136 in VIG.
  • Risk. VIG has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -20.4%, against -15.4% for HDV.
  • Diversification. VIG holds 338 positions and HDV holds 74. The ten largest positions make up 34.9% of VIG and 57.4% of HDV.
  • Overlap. 18% of the two portfolios overlap by weight, across 19 shared holdings. They mostly own different companies, so they can complement each other.
  • Dividend growth. VIG grew its yearly payout 7.5% a year over the last 4 years, versus 2.8% for HDV.
  • Size. VIG is the larger fund with $127.7 billion in assets, against $15.5 billion for HDV.

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

Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
MetricVIG
Vanguard Dividend Appreciation ETF
HDV
iShares Core High Dividend ETF
Dividend yield (TTM)1.50%2.83%
Dividend / share (TTM)$3.65$0.85
Payout frequencyQuarterlyQuarterly
Last dividend$0.9295 on Sep 30, 2026$0.0560 on Sep 21, 2026
Ex-dividend dateSep 28, 2026Sep 16, 2026
Dividend growth (CAGR)7.5% over 4 yrs2.8% over 4 yrs
Price$243.07$30.11
Dividend growth streak12 years—
Beta0.820.30
Max drawdown (5Y)-20.4%-15.4%
Market cap$127.69B$15.63B
ExchangeAMEXAMEX
Expense ratio0.04%0.08%
Assets under management$127.70B$15.52B
Number of holdings33874
Top 10 concentration34.9%57.4%
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

VIG

$12.50/mo

$150 /yr at 1.50% yield

HDV

$23.58/mo

$283 /yr at 2.83% yield

Dividend history
Total dividends paid per share in each calendar year. VIG pays quarterly; HDV pays quarterly.
YearVIGHDV
2025$3.5580$0.7821
2024$3.3791$0.8230
2023$3.2081$0.7787
2022$2.9725$0.7431
2021$2.6601$0.7016
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 VIG vs HDV actually do

VIG
A fund holding US companies with at least ten consecutive years of dividend increases, deliberately excluding the highest yielders.

It tracks the S&P U.S. Dividend Growers Index, which requires a decade of unbroken annual increases and then removes the top 25% of eligible names by yield. Screening out the highest payers is intentional: an unusually high yield often signals a stretched payout or a falling share price, and the index is built for durability rather than for current income. The result is a lower starting yield than most dividend funds and a portfolio that leans toward large, stable, profitable companies.

Suits a long-horizon investor who cares more about the dividend rising every year than about the size of the first payment. Not appropriate if you need meaningful cash flow from the position today.

Dividend growth, quality tilt

Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 20, 2021 would now be worth $16,136 in VIG and $18,215 in HDV.
PeriodVIGHDV
1 month2.56%4.77%
3 months2.30%7.46%
Year to date10.60%26.57%
1 year11.88%26.83%
3 years64.31%70.79%
5 years61.36%82.15%
  • VIG
  • HDV
78134190202120222023202420252026161182

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.
  • VIG
  • HDV
0%7%14%21%28%Healthcare18.7%25.1%Consumer Defensive9.1%23.1%Technology27.4%1.1%Energy3.6%24.8%Consumer Staples27.0%Financial Services20.7%4.7%Health Care13.6%Utilities2.7%10.9%Industrials10.8%2.6%Consumer Cyclical3.9%8.3%Other3.7%28.0%
VIG vs HDV holdings overlap
18% overlap by weight, with 19 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 holdingsVIG weightHDV weight
XOMExxonMobil Holdings Corp2.96%9.54%
ABBVAbbVie Inc2.05%6.79%
MRKMerck & Co Inc1.59%4.45%
PGProcter & Gamble Co/The1.50%5.49%
KOCoca-Cola Co/The1.48%4.43%
HDHome Depot Inc/The1.26%4.52%
AMGNAmgen Inc1.01%2.67%
PEPPepsiCo Inc0.77%3.95%
ABTAbbott Laboratories0.76%2.11%
MCDMcDonald's Corp0.72%2.52%
Top 10 holdings
Largest positions by portfolio weight.

VIG338 holdings total

NameWeight
MSFTMicrosoft Corp4.90%
AAPLApple Inc4.89%
AVGOBroadcom Inc4.30%
LLYEli Lilly & Co4.10%
JPMJPMorgan Chase & Co3.89%
XOMExxonMobil Holdings Corp2.96%
JNJJohnson & Johnson2.83%
VVisa Inc2.53%
7DZ.DEExxonMobil Holdings Corp2.46%
WMTWalmart Inc2.05%

HDV74 holdings total

NameWeight
XOMEXXONMOBIL HOLDINGS CORP9.54%
CVXCHEVRON7.21%
ABBVABBVIE6.79%
PGPROCTER & GAMBLE5.49%
VZVERIZON COMMUNICATIONS INC5.22%
PMPHILIP MORRIS INTERNATIONAL5.08%
PFEPFIZER4.72%
HDHOME DEPOT4.52%
MRKMERCK & CO INC4.45%
KOCOCA-COLA4.43%

Quick verdict

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

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Frequently asked questions

Is VIG or HDV better for dividend income?
It depends on your goals. VIG currently yields 1.50% Trailing Twelve Months (TTM) while HDV yields 2.83%. 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 VIG and HDV?
Vanguard Dividend Appreciation ETF (VIG) is an ETF listed on AMEX. iShares Core High Dividend ETF (HDV) 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, VIG or HDV?
VIG has the lower expense ratio. VIG charges 0.04% a year and HDV charges 0.08%, a difference of $4 a year on a $10,000 investment.
Which has performed better, VIG or HDV?
Over the last 5 years, HDV has the higher total return with dividends reinvested: VIG returned 61.4% and HDV returned 82.2%. Past performance does not predict future returns.
Which is riskier, VIG or HDV?
Measured by the worst peak-to-trough decline over the last five years, VIG has been riskier: VIG fell as much as 20.4% and HDV as much as 15.4%. Their betas are 0.82 and 0.30.
How much do VIG and HDV overlap?
About 18% of the two portfolios overlap by weight, across 19 shared holdings. The largest shared positions are XOM, ABBV, MRK. Holding both still adds meaningful diversification.
How often do VIG and HDV pay dividends?
Both pay quarterly. The most recent payments were $0.9295 for VIG and $0.0560 for HDV.
How much income does $10,000 in VIG vs HDV generate?
At current TTM yields, $10,000 in VIG would generate roughly $12.50 per month ($150 annually). The same amount in HDV would produce about $23.58 per month ($283 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both VIG and HDV?
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 VIG vs HDV with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how VIG and HDV 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.