DIVB vs. SPDG

Last updated Jun 23, 2026

DIVB (iShares Core Dividend ETF) and SPDG (SPDR Portfolio S&P Sector Neutral Dividend ETF) are both Dividend funds - DIVB tracks the Morningstar US Dividend and Buyback Index while SPDG tracks the S&P Sector-Neutral High Yield Dividend Aristocrats Index. Both are passively managed. Over the past year, DIVB returned 27.44% vs 26.82% for SPDG. Their correlation of 0.93 suggests significant overlap in exposure. Both charge a 0.05% expense ratio.

Performance

DIVB vs. SPDG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core Dividend ETF (DIVB) and SPDR Portfolio S&P Sector Neutral Dividend ETF (SPDG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DIVB achieves a 15.96% return, which is significantly higher than SPDG's 15.07% return.

DIVB

• 1D: 0.07%
• 1M: 0.62%
• YTD: 15.96%
• 6M: 15.17%
• 1Y: 27.44%
• 3Y*: 21.34%
• 5Y*: 12.32%
• 10Y*: —

SPDG

• 1D: 0.53%
• 1M: 0.00%
• YTD: 15.07%
• 6M: 13.92%
• 1Y: 26.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DIVB vs. SPDG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DIVB iShares Core Dividend ETF	15.96%	15.09%	18.59%	8.10%
SPDG SPDR Portfolio S&P Sector Neutral Dividend ETF	15.07%	11.66%	20.22%	8.09%

Correlation

The correlation between DIVB and SPDG is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (All Time) Calculated using the full available price history since Sep 12, 2023	0.93

The correlation between DIVB and SPDG has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

Return for Risk

DIVB vs. SPDG — Risk / Return Rank

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

DIVB

DIVB Risk / Return Rank: 77
DIVB Sharpe Ratio Rank: 77
DIVB Sortino Ratio Rank: 78
DIVB Omega Ratio Rank: 74
DIVB Calmar Ratio Rank: 80
DIVB Martin Ratio Rank: 74

SPDG

SPDG Risk / Return Rank: 67
SPDG Sharpe Ratio Rank: 69
SPDG Sortino Ratio Rank: 71
SPDG Omega Ratio Rank: 67
SPDG Calmar Ratio Rank: 67
SPDG Martin Ratio Rank: 61

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.

DIVB vs. SPDG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core Dividend ETF (DIVB) and SPDR Portfolio S&P Sector Neutral Dividend ETF (SPDG). 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.

	DIVB	SPDG	Difference
Sharpe ratio: Return per unit of total volatility	2.36	2.17	+0.19
Sortino ratio: Return per unit of downside risk	3.31	3.09	+0.22
Omega ratio: Gain probability vs. loss probability	1.42	1.38	+0.03
Calmar ratio: Return relative to maximum drawdown	4.04	3.23	+0.81
Martin ratio: Return relative to average drawdown	13.51	10.69	+2.82

DIVB vs. SPDG - Sharpe Ratio Comparison

The current DIVB Sharpe Ratio is 2.36, which is comparable to the SPDG Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of DIVB and SPDG, 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

DIVB vs. SPDG - Drawdown Comparison

The maximum DIVB drawdown since its inception was -36.93%, which is greater than SPDG's maximum drawdown of -15.67%. Use the drawdown chart below to compare losses from any high point for DIVB and SPDG.

Drawdown Indicators

	DIVB	SPDG	Difference
Max Drawdown Largest peak-to-trough decline	-36.93%	-15.67%	-21.26%
Max Drawdown (1Y) Largest decline over 1 year	-6.82%	-8.34%	+1.52%
Max Drawdown (3Y) Largest decline over 3 years	-15.45%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.08%	—	—
Current Drawdown Current decline from peak	-2.10%	-2.05%	-0.05%
Average Drawdown Average peak-to-trough decline	-4.97%	-2.19%	-2.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	2.51%	-0.47%

Volatility

DIVB vs. SPDG - Volatility Comparison

iShares Core Dividend ETF (DIVB) and SPDR Portfolio S&P Sector Neutral Dividend ETF (SPDG) have volatilities of 4.61% and 4.76%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIVB	SPDG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.61%	4.76%	-0.15%
Volatility (6M) Calculated over the trailing 6-month period	8.81%	9.63%	-0.82%
Volatility (1Y) Calculated over the trailing 1-year period	11.69%	12.44%	-0.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.26%	14.21%	+1.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.36%	14.21%	+4.15%

DIVB vs. SPDG - Expense Ratio Comparison

Both DIVB and SPDG have an expense ratio of 0.05%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

DIVB vs. SPDG - Dividend Comparison

DIVB's dividend yield for the trailing twelve months is around 2.29%, less than SPDG's 3.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DIVB iShares Core Dividend ETF	2.29%	2.50%	2.61%	3.18%	2.02%	1.63%	2.08%	2.07%	2.52%	0.37%
SPDG SPDR Portfolio S&P Sector Neutral Dividend ETF	3.36%	2.87%	2.61%	0.90%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DIVB and SPDG in my portfolio?

With a correlation of 0.95, DIVB and SPDG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, DIVB or SPDG?

SPDG has higher volatility (4.76%) compared to DIVB (4.61%). In terms of maximum drawdown, DIVB dropped -36.93% vs SPDG's -15.67%.

Which ETF is better, DIVB or SPDG?

On 1-year performance, DIVB leads with 27.44% vs 26.82% for SPDG. Both ETFs have the same 0.05% expense ratio. On volatility, DIVB has been the lower-risk option at 4.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIVB or SPDG?

Over the 1-year period, DIVB has performed better with a 27.44% return vs 26.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIVB or SPDG?

DIVB and SPDG have the same expense ratio: 0.05% per year.

Which ETF pays a higher dividend yield, DIVB or SPDG?

SPDG has the higher dividend yield at 3.36%, compared with 2.29% for DIVB.

What is the main difference between DIVB and SPDG?

DIVB tracks Morningstar US Dividend and Buyback Index, while SPDG tracks S&P Sector-Neutral High Yield Dividend Aristocrats Index. They also come from different issuers: iShares and State Street.

Which has better risk-adjusted returns?

DIVB currently has the higher Sharpe Ratio (2.36 vs 2.17), 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.