FDV vs. SPY

Last updated Aug 6, 2026

FDV (Federated Hermes U.S. Strategic Dividend ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - FDV is a Large Cap Value Equities fund actively managed by Federated, while SPY is a S&P 500 fund tracking the S&P 500 Index. FDV is actively managed, while SPY is passively managed. Their -0.36 correlation means they have often moved in opposite directions in the past. FDV charges 0.50%/yr vs 0.09%/yr for SPY.

Performance

FDV vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes U.S. Strategic Dividend ETF (FDV) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FDV

• 1D: -0.12%
• 1M: 3.58%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

SPY

• 1D: -0.20%
• 1M: 2.46%
• 6M: 12.78%
• YTD: 13.49%
• 1Y: 23.94%
• 3Y*: 21.38%
• 5Y*: 13.23%
• 10Y*: 15.27%
• ALL TIME*: 10.88%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FDV Federated Hermes U.S. Strategic Dividend ETF	$6.49M	$5.37M	$4.28M
SPY State Street SPDR S&P 500 ETF	$41.99B	$36.81B	$39.78B

FDV vs. SPY - Yearly Performance Comparison

	2026 (YTD)
FDV Federated Hermes U.S. Strategic Dividend ETF	5.67%
SPY State Street SPDR S&P 500 ETF	3.91%

Correlation

The correlation between FDV and SPY is -0.36, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 22, 2026	-0.36

FDV vs. SPY - Sectors Allocation Comparison

Sectors	FDV	SPY
Utilities	16.1%	2.6%
Healthcare	14.7%	9.4%
Financial Services	14.4%	12.5%
Consumer Defensive	13.3%	4.8%
Technology	9.5%	36.9%
Real Estate	9.5%	2.0%
Energy	8.7%	3.4%
Consumer Cyclical	7.8%	8.9%
Industrials	2.7%	7.6%
Communication Services	1.8%	9.7%
Basic Materials	1.4%	1.9%

Return for Risk

FDV vs. SPY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FDV

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

SPY

SPY Risk / Return Rank: 71
SPY Sharpe Ratio Rank: 72
SPY Sortino Ratio Rank: 69
SPY Omega Ratio Rank: 70
SPY Calmar Ratio Rank: 68
SPY Martin Ratio Rank: 79

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FDV vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes U.S. Strategic Dividend ETF (FDV) and State Street SPDR S&P 500 ETF (SPY). 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.

	FDV	SPY	Difference
Sharpe ratio: Return per unit of total volatility	—	1.87	—
Sortino ratio: Return per unit of downside risk	—	2.57	—
Omega ratio: Gain probability vs. loss probability	—	1.33	—
Calmar ratio: Return relative to maximum drawdown	—	2.71	—
Martin ratio: Return relative to average drawdown	—	11.55	—

Drawdowns

FDV vs. SPY - Drawdown Comparison

The maximum FDV drawdown since its inception was -3.33%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for FDV and SPY.

Drawdown Indicators

	FDV	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-3.33%	-55.19%	+51.86%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.88%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-18.76%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.50%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-1.39%	-0.20%	-1.19%
Average Drawdown Average peak-to-trough decline	-0.98%	-9.01%	+8.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.08%	—

Volatility

Volatility by Period

	FDV	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.10%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.32%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.41%	12.88%	+0.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.41%	17.21%	-3.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.41%	17.96%	-4.55%

FDV vs. SPY - Expense Ratio Comparison

FDV has a 0.50% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

FDV vs. SPY - Dividend Comparison

FDV's dividend yield for the trailing twelve months is around 0.78%, less than SPY's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDV Federated Hermes U.S. Strategic Dividend ETF	0.78%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	0.98%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Frequently Asked Questions

Can I hold both FDV and SPY in my portfolio?

FDV and SPY have a correlation of -0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FDV or SPY?

On fees, SPY is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FDV or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.50% for FDV.

Which ETF pays a higher dividend yield, FDV or SPY?

SPY has the higher dividend yield at 0.98%, compared with 0.78% for FDV.

What is the main difference between FDV and SPY?

FDV is categorized as Large Cap Value Equities, while SPY is S&P 500. They also come from different issuers: Federated and State Street. Their fees differ too: 0.50% for FDV and 0.09% for SPY.