HDV vs SPYD: Dividend Comparison
Dividend data as of
iShares Core High Dividend ETF (HDV) and SPDR Portfolio S&P 500 High Dividend ETF (SPYD) are both in the ETF sector, making them natural rivals for dividend investors. SPYD offers a significantly higher 4.32% yield compared to HDV's 2.96%, a gap of 1.36%. For dividend growth, SPYD leads with a 5-year CAGR of 14.2% versus HDV's 2.8%.
Verdict
Yield Analysis
SPYD yields 1.36% more than HDV. In dollar terms, HDV pays $3.91/share vs SPYD's $1.96/share annually.
Dividend Growth
HDV: Dividend growth is slowing — the 3-year CAGR of 0.2% trails the 5-year rate of 2.8% and the 10-year rate of 4.2%.
SPYD: Dividend growth is slowing — the 3-year CAGR of 3.5% trails the 5-year rate of 14.2% and the 10-year rate of 2.9%.
Dividend Safety
Estimated Annual Dividend Income
Based on current dividend yields. Actual income may vary.
What does $10,000 buy in HDV vs SPYD today?
At $138.92 per share, $10,000 buys about 72.0 shares of iShares Core High Dividend ETF (HDV). Each share pays $3.91 per year in dividends, so the position starts out generating roughly $282 per year — about $23 a month.
At $48.08 per share, $10,000 buys about 208.0 shares of SPDR Portfolio S&P 500 High Dividend ETF (SPYD). Each share pays $1.96 per year in dividends, so the position starts out generating roughly $407 per year — about $34 a month.
SPYD is the larger income stream from day one: $126 per year more on the same $10,000 invested.
What could $10,000 of HDV or SPYD income look like in 10 years?
iShares Core High Dividend ETF (HDV) has raised its dividend about 2.8% a year over the past five years. If that pace held, the $296 per year that $10,000 generates today at the current 2.96% yield would reach $389 per year by 2036 — a 3.9% yield on the original cost.
SPDR Portfolio S&P 500 High Dividend ETF (SPYD) has raised its dividend about 14.2% a year over the past five years. If that pace held, the $432 per year that $10,000 generates today at the current 4.32% yield would reach $1,628 per year by 2036 — a 16.3% yield on the original cost.
On those trailing rates, SPYD pays more in 2036: $1,628 versus $389 per year. The projection assumes each five-year growth rate persists and no dividends are reinvested — real payouts will differ.
When would HDV's dividend growth overtake SPYD's higher yield?
It doesn't, on the trailing numbers. SPDR Portfolio S&P 500 High Dividend ETF (SPYD) yields more today (4.32% vs 2.96%) and has also grown its dividend at least as fast (14.2% vs 2.8% a year over five years). Unless HDV accelerates its raises or SPYD stumbles, HDV never closes the income gap — SPYD wins on both current income and growth.
Why is there no payout ratio for HDV or SPYD?
REWD has neither an earnings-per-share figure nor a payout ratio for iShares Core High Dividend ETF (HDV) and SPDR Portfolio S&P 500 High Dividend ETF (SPYD) — typical for ETFs and covered-call funds, whose distributions are funded by the underlying portfolio (stock dividends, option premium, or return of capital) rather than a single company's earnings. For a fund, judge sustainability by the distribution history and the strategy behind it, not a payout ratio.
Which fits an early-retirement income portfolio better, HDV or SPYD?
For income you need right now, SPDR Portfolio S&P 500 High Dividend ETF (SPYD) leads: $100,000 invested today pays about $360 a month at the current 4.32% yield, versus $247 a month from iShares Core High Dividend ETF (HDV) at 2.96%.
SPYD also leads on dividend growth (14.2% vs 2.8% a year over five years), so the trailing numbers favor it on both fronts.
On consistency: SPYD has raised its dividend 2 consecutive years.
Many income investors simply hold both — the mix pairs current yield with growth and spreads single-name risk. Whichever way you lean, dividends are never guaranteed; recheck the payout each quarter rather than setting and forgetting.
$10,000 with DRIP: projected annual income
If each holding keeps raising its dividend at its real 5-year rate and every payment is reinvested, a $10,000 position pays $520/yr in HDV vs $2,486/yr in SPYD by year 10.
Assumes dividends are reinvested at the current yield and grow at each holding's trailing 5-year dividend CAGR. A projection, not a prediction — no price appreciation modeled.
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