ATFV vs. HDV

Last updated Jul 12, 2026

ATFV (Alger 35 ETF) and HDV (iShares Core High Dividend ETF) are both exchange-traded funds - ATFV is a Large Cap Growth Equities fund tracking the S&P 500, while HDV is a Dividend fund tracking the Morningstar Dividend Yield Focus Index. Both are passively managed. Over the past 5 years, ATFV returned 13.16%/yr vs 11.16%/yr for HDV. At a 0.23 correlation, their price movements are largely independent. ATFV charges 0.55%/yr vs 0.08%/yr for HDV.

Performance

ATFV vs. HDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger 35 ETF (ATFV) and iShares Core High Dividend ETF (HDV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with ATFV having a 14.71% return and HDV slightly higher at 15.36%.

ATFV

• 1D: 0.73%
• 1M: 2.69%
• 6M: 12.01%
• YTD: 14.71%
• 1Y: 38.67%
• 3Y*: 36.93%
• 5Y*: 13.16%
• 10Y*: —

HDV

• 1D: 0.44%
• 1M: 0.05%
• 6M: 13.47%
• YTD: 15.36%
• 1Y: 19.24%
• 3Y*: 15.04%
• 5Y*: 11.16%
• 10Y*: 9.03%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ATFV vs. HDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ATFV Alger 35 ETF	14.71%	38.20%	46.14%	32.75%	-35.97%	3.03%
HDV iShares Core High Dividend ETF	15.36%	11.90%	14.16%	1.72%	7.05%	7.30%

Correlation

The correlation between ATFV and HDV is -0.21, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.00
Correlation (5Y) Calculated over the trailing 5-year period	0.24
Correlation (All Time) Calculated using the full available price history since May 4, 2021	0.23

The correlation between ATFV and HDV shifts across timeframes, from -0.21 (1 year) to 0.24 (5 years), reflecting how their relationship changes across market environments.

ATFV vs. HDV - Sectors Allocation Comparison

Sectors	ATFV	HDV
Technology	43.8%	0.2%
Communication Services	24.8%	5.2%
Consumer Cyclical	9.7%	9.2%
Healthcare	8.7%	23.7%
Industrials	6.5%	3.6%
Utilities	5.4%	8.2%
Financial Services	1.1%	4.8%
Basic Materials	-	0.8%
Consumer Defensive	-	24.5%
Energy	-	19.6%
Real Estate	-	-

Return for Risk

ATFV vs. HDV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ATFV

ATFV Risk / Return Rank: 54
ATFV Sharpe Ratio Rank: 57
ATFV Sortino Ratio Rank: 55
ATFV Omega Ratio Rank: 52
ATFV Calmar Ratio Rank: 53
ATFV Martin Ratio Rank: 52

HDV

HDV Risk / Return Rank: 72
HDV Sharpe Ratio Rank: 69
HDV Sortino Ratio Rank: 74
HDV Omega Ratio Rank: 64
HDV Calmar Ratio Rank: 83
HDV Martin Ratio Rank: 68

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ATFV vs. HDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger 35 ETF (ATFV) and iShares Core High Dividend ETF (HDV). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ATFV	HDV	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.79	-0.24
Sortino ratio: Return per unit of downside risk	2.14	2.67	-0.53
Omega ratio: Gain probability vs. loss probability	1.26	1.31	-0.04
Calmar ratio: Return relative to maximum drawdown	2.13	3.60	-1.47
Martin ratio: Return relative to average drawdown	7.01	9.85	-2.83

ATFV vs. HDV - Sharpe Ratio Comparison

The current ATFV Sharpe Ratio is 1.54, which is comparable to the HDV Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of ATFV and HDV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ATFV vs. HDV - Drawdown Comparison

The maximum ATFV drawdown since its inception was -45.34%, which is greater than HDV's maximum drawdown of -37.04%. Use the drawdown chart below to compare losses from any high point for ATFV and HDV.

Drawdown Indicators

	ATFV	HDV	Difference
Max Drawdown Largest peak-to-trough decline	-45.34%	-37.04%	-8.30%
Max Drawdown (1Y) Largest decline over 1 year	-18.29%	-5.18%	-13.11%
Max Drawdown (3Y) Largest decline over 3 years	-29.01%	-10.49%	-18.52%
Max Drawdown (5Y) Largest decline over 5 years	-45.34%	-15.42%	-29.92%
Max Drawdown (10Y) Largest decline over 10 years	—	-37.04%	—
Current Drawdown Current decline from peak	-4.19%	-1.39%	-2.80%
Average Drawdown Average peak-to-trough decline	-17.56%	-3.07%	-14.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.55%	1.90%	+3.65%

Volatility

ATFV vs. HDV - Volatility Comparison

Alger 35 ETF (ATFV) has a higher volatility of 10.52% compared to iShares Core High Dividend ETF (HDV) at 4.51%. This indicates that ATFV's price experiences larger fluctuations and is considered to be riskier than HDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ATFV	HDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.52%	4.51%	+6.01%
Volatility (6M) Calculated over the trailing 6-month period	20.19%	8.34%	+11.85%
Volatility (1Y) Calculated over the trailing 1-year period	25.28%	10.47%	+14.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.08%	12.88%	+14.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.80%	15.74%	+11.06%

ATFV vs. HDV - Expense Ratio Comparison

ATFV has a 0.55% expense ratio, which is higher than HDV's 0.08% expense ratio.

Dividends

ATFV vs. HDV - Dividend Comparison

ATFV's dividend yield for the trailing twelve months is around 0.18%, less than HDV's 2.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ATFV Alger 35 ETF	0.18%	0.20%	0.16%	0.01%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HDV iShares Core High Dividend ETF	2.87%	3.22%	3.67%	3.82%	3.56%	3.47%	4.07%	3.27%	3.67%	3.27%	3.28%	3.92%

Frequently Asked Questions

Can I hold both ATFV and HDV in my portfolio?

ATFV and HDV have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ATFV or HDV?

ATFV has higher volatility (10.52%) compared to HDV (4.51%). In terms of maximum drawdown, ATFV dropped -45.34% vs HDV's -37.04%.

Which ETF is better, ATFV or HDV?

On 5-year performance, ATFV leads with 13.16% vs 11.16% for HDV. On fees, HDV is cheaper at 0.08% per year. On volatility, HDV has been the lower-risk option at 4.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ATFV or HDV?

Over the 5-year period, ATFV has performed better with a 13.16% return vs 11.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ATFV or HDV?

HDV is cheaper with a 0.08% expense ratio, compared with 0.55% for ATFV.

Which ETF pays a higher dividend yield, ATFV or HDV?

HDV has the higher dividend yield at 2.87%, compared with 0.18% for ATFV.

What is the main difference between ATFV and HDV?

ATFV is categorized as Large Cap Growth Equities, while HDV is Dividend. ATFV tracks S&P 500, while HDV tracks Morningstar Dividend Yield Focus Index. They also come from different issuers: Alger Group Holdings LLC and iShares. Their fees differ too: 0.55% for ATFV and 0.08% for HDV.

Which has better risk-adjusted returns?

HDV currently has the higher Sharpe Ratio (1.79 vs 1.54), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.