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DVY vs. XLV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DVY vs. XLV

Last updated Jun 14, 2026

DVY (iShares Select Dividend ETF) and XLV (State Street Health Care Select Sector SPDR ETF) are both exchange-traded funds - DVY is a Large Cap Value Equities fund tracking the Dow Jones U.S. Select Dividend Index, while XLV is a Health & Biotech Equities fund tracking the Health Care Select Sector Index. Both are passively managed. Over the past 10 years, DVY returned 10.49%/yr vs 9.81%/yr for XLV. A 0.65 correlation means they provide meaningful diversification when combined. DVY charges 0.39%/yr vs 0.08%/yr for XLV.

Performance

DVY vs. XLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Select Dividend ETF (DVY) and State Street Health Care Select Sector SPDR ETF (XLV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, DVY achieves a 13.40% return, which is significantly higher than XLV's -0.23% return. Over the past 10 years, DVY has outperformed XLV with an annualized return of 10.49%, while XLV has yielded a comparatively lower 9.81% annualized return.

DVY

1D
1.18%
1M
4.16%
YTD
13.40%
6M
12.29%
1Y
25.66%
3Y*
15.86%
5Y*
9.31%
10Y*
10.49%

XLV

1D
-0.18%
1M
4.90%
YTD
-0.23%
6M
0.67%
1Y
15.00%
3Y*
7.12%
5Y*
6.00%
10Y*
9.81%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DVY vs. XLV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DVY
iShares Select Dividend ETF		13.40%11.60%16.24%1.12%1.80%31.70%-4.91%22.62%-6.36%14.82%
XLV
State Street Health Care Select Sector SPDR ETF		-0.23%14.50%2.47%2.07%-2.08%26.04%13.30%20.45%6.28%21.77%

Correlation

The correlation between DVY and XLV is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.50

Correlation (3Y)
Calculated over the trailing 3-year period

0.54

Correlation (5Y)
Calculated over the trailing 5-year period

0.59

Correlation (10Y)
Calculated over the trailing 10-year period

0.58

Correlation (All Time)
Calculated using the full available price history since Nov 7, 2003

0.65

The correlation between DVY and XLV shifts across timeframes, from 0.50 (1 year) to 0.65 (all time), reflecting how their relationship changes across market environments.

DVY vs. XLV - Sectors Allocation Comparison

Sectors
DVY
XLV

Financial Services

25.1%

-

Utilities

23.7%

-

Consumer Defensive

13.5%

-

Consumer Cyclical

9.6%

-

Energy

8.8%

-

Communication Services

5.5%

-

Healthcare

5.2%
100.0%

Technology

4.0%

-

Basic Materials

2.1%

-

Industrials

2.0%

-

Real Estate

-

-

Financial Services

DVY
25.1%
XLV

-

Utilities

DVY
23.7%
XLV

-

Consumer Defensive

DVY
13.5%
XLV

-

Consumer Cyclical

DVY
9.6%
XLV

-

Energy

DVY
8.8%
XLV

-

Communication Services

DVY
5.5%
XLV

-

Healthcare

DVY
5.2%
XLV
100.0%

Technology

DVY
4.0%
XLV

-

Basic Materials

DVY
2.1%
XLV

-

Industrials

DVY
2.0%
XLV

-

Real Estate

DVY

-

XLV

-

Compare stocks, funds, or ETFs

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iShares Select Dividend ETF

State Street Health Care Select Sector SPDR ETF

Often compared with DVY:
DVY vs. SCHDDVY vs. HDVDVY vs. VYMDVY vs. DGRODVY vs. VIGDVY vs. SPYDDVY vs. VOO
Often compared with XLV:
XLV vs. VHTXLV vs. SPYXLV vs. XLFXLV vs. IXJXLV vs. VOOXLV vs. FHLCXLV vs. IHI

Return for Risk

DVY vs. XLV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DVY
DVY Risk / Return Rank: 7878
Overall Rank
DVY Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
DVY Sortino Ratio Rank: 8282
Sortino Ratio Rank
DVY Omega Ratio Rank: 7474
Omega Ratio Rank
DVY Calmar Ratio Rank: 7878
Calmar Ratio Rank
DVY Martin Ratio Rank: 7676
Martin Ratio Rank
XLV
XLV Risk / Return Rank: 3030
Overall Rank
XLV Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
XLV Sortino Ratio Rank: 3333
Sortino Ratio Rank
XLV Omega Ratio Rank: 2828
Omega Ratio Rank
XLV Calmar Ratio Rank: 3232
Calmar Ratio Rank
XLV Martin Ratio Rank: 2727
Martin Ratio Rank
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.

DVY vs. XLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Select Dividend ETF (DVY) and State Street Health Care Select Sector SPDR ETF (XLV). 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.

DVYXLVDifference
Sharpe ratioReturn per unit of total volatility
2.19
0.97

+1.22

Sortino ratioReturn per unit of downside risk
3.19
1.55

+1.63

Omega ratioGain probability vs. loss probability

1.37

1.17

+0.20

Calmar ratioReturn relative to maximum drawdown

3.54

1.38

+2.16

Martin ratioReturn relative to average drawdown

12.51

3.31

+9.20

DVY vs. XLV - Sharpe Ratio Comparison

The current DVY Sharpe Ratio is 2.19, which is higher than the XLV Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of DVY and XLV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

DVY vs. XLV - Drawdown Comparison

The maximum DVY drawdown since its inception was -62.59%, which is greater than XLV's maximum drawdown of -39.17%. Use the drawdown chart below to compare losses from any high point for DVY and XLV.

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Drawdown Indicators

DVYXLVDifference

Max Drawdown

Largest peak-to-trough decline

-62.59%

-39.17%

-23.42%

Max Drawdown (1Y)

Largest decline over 1 year

-6.89%

-10.47%

+3.58%

Max Drawdown (3Y)

Largest decline over 3 years

-16.00%

-17.11%

+1.11%

Max Drawdown (5Y)

Largest decline over 5 years

-17.54%

-17.11%

-0.43%

Max Drawdown (10Y)

Largest decline over 10 years

-41.59%

-28.40%

-13.19%

Current Drawdown

Current decline from peak

0.00%

-3.59%

+3.59%

Average Drawdown

Average peak-to-trough decline

-8.78%

-7.12%

-1.66%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.95%

4.37%

-2.42%

Volatility

DVY vs. XLV - Volatility Comparison

The current volatility for iShares Select Dividend ETF (DVY) is 2.94%, while State Street Health Care Select Sector SPDR ETF (XLV) has a volatility of 4.90%. This indicates that DVY experiences smaller price fluctuations and is considered to be less risky than XLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DVYXLVDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.94%

4.90%

-1.96%

Volatility (6M)

Calculated over the trailing 6-month period

7.54%

10.60%

-3.06%

Volatility (1Y)

Calculated over the trailing 1-year period

11.16%

15.03%

-3.87%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.22%

14.75%

+0.47%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.01%

16.58%

+1.43%

DVY vs. XLV - Expense Ratio Comparison

DVY has a 0.39% expense ratio, which is higher than XLV's 0.08% expense ratio.

Dividends

DVY vs. XLV - Dividend Comparison

DVY's dividend yield for the trailing twelve months is around 3.30%, more than XLV's 1.63% yield.

PositionTTM20252024202320222021202020192018201720162015
DVY
iShares Select Dividend ETF		3.30%3.65%3.65%3.82%3.43%3.12%3.66%3.41%3.58%3.00%3.04%3.45%
XLV
State Street Health Care Select Sector SPDR ETF		1.63%1.60%1.67%1.59%1.47%1.33%1.49%2.17%1.57%1.47%1.60%1.43%

Frequently Asked Questions

DVY and XLV have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

XLV has higher volatility (4.90%) compared to DVY (2.94%). In terms of maximum drawdown, DVY dropped -62.59% vs XLV's -39.17%.

On 10-year performance, DVY leads with 10.49% vs 9.81% for XLV. On fees, XLV is cheaper at 0.08% per year. On volatility, DVY has been the lower-risk option at 2.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, DVY has performed better with a 10.49% return vs 9.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

XLV is cheaper with a 0.08% expense ratio, compared with 0.39% for DVY.

DVY has the higher dividend yield at 3.30%, compared with 1.63% for XLV.

DVY is categorized as Large Cap Value Equities, while XLV is Health & Biotech Equities. DVY tracks Dow Jones U.S. Select Dividend Index, while XLV tracks Health Care Select Sector Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.39% for DVY and 0.08% for XLV.

DVY currently has the higher Sharpe Ratio (2.19 vs 0.97), 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.

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