FDVV vs. FDV

Last updated Jun 4, 2026

FDVV (Fidelity High Dividend ETF) and FDV (Federated Hermes U.S. Strategic Dividend ETF) are both exchange-traded funds - FDVV is a Large Cap Blend Equities fund tracking the Fidelity Core Dividend Index, while FDV is a Large Cap Value Equities fund actively managed by Federated. FDVV is passively managed, while FDV is actively managed. Over the past 3 years, FDVV returned 20.08%/yr vs 14.78%/yr for FDV. A 0.73 correlation means they provide meaningful diversification when combined. FDVV charges 0.29%/yr vs 0.50%/yr for FDV.

Performance

FDVV vs. FDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity High Dividend ETF (FDVV) and Federated Hermes U.S. Strategic Dividend ETF (FDV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDVV achieves a 8.39% return, which is significantly lower than FDV's 11.72% return.

FDVV

• 1D: -1.12%
• 1M: 4.44%
• YTD: 8.39%
• 6M: 8.67%
• 1Y: 23.45%
• 3Y*: 20.08%
• 5Y*: 13.36%
• 10Y*: —

FDV

• 1D: 0.00%
• 1M: 1.90%
• YTD: 11.72%
• 6M: 11.46%
• 1Y: 19.71%
• 3Y*: 14.78%
• 5Y*: —
• 10Y*: —

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

FDVV vs. FDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FDVV Fidelity High Dividend ETF	8.39%	17.08%	21.81%	18.00%	-1.33%
FDV Federated Hermes U.S. Strategic Dividend ETF	11.72%	11.01%	14.41%	-2.16%	1.92%

Correlation

The correlation between FDVV and FDV is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (All Time) Calculated using the full available price history since Nov 17, 2022	0.73

The correlation between FDVV and FDV has been stable across timeframes, ranging from 0.69 to 0.73 - a consistent structural relationship.

FDVV vs. FDV - Sectors Allocation Comparison

Sectors	FDVV	FDV
Technology	29.1%	10.9%
Financial Services	17.0%	16.6%
Consumer Cyclical	13.6%	5.1%
Consumer Defensive	11.0%	11.8%
Real Estate	10.1%	9.0%
Utilities	8.7%	16.9%
Communication Services	3.7%	2.0%
Industrials	3.4%	3.8%
Healthcare	3.1%	12.6%
Basic Materials	-	1.6%
Energy	-	9.7%

Return for Risk

FDVV vs. FDV — Risk / Return Rank

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

FDVV

FDVV Risk / Return Rank: 64
FDVV Sharpe Ratio Rank: 70
FDVV Sortino Ratio Rank: 71
FDVV Omega Ratio Rank: 71
FDVV Calmar Ratio Rank: 50
FDVV Martin Ratio Rank: 58

FDV

FDV Risk / Return Rank: 63
FDV Sharpe Ratio Rank: 58
FDV Sortino Ratio Rank: 64
FDV Omega Ratio Rank: 55
FDV Calmar Ratio Rank: 74
FDV Martin Ratio Rank: 65

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.

FDVV vs. FDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity High Dividend ETF (FDVV) and Federated Hermes U.S. Strategic Dividend ETF (FDV). 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.

	FDVV	FDV	Difference
Sharpe ratio: Return per unit of total volatility	2.35	2.01	+0.34
Sortino ratio: Return per unit of downside risk	3.28	3.02	+0.26
Omega ratio: Gain probability vs. loss probability	1.43	1.35	+0.09
Calmar ratio: Return relative to maximum drawdown	2.53	3.78	-1.25
Martin ratio: Return relative to average drawdown	10.54	12.05	-1.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDVV vs. FDV - Sharpe Ratio Comparison

The current FDVV Sharpe Ratio is 2.35, which is comparable to the FDV Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of FDVV and FDV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FDVV	FDV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.35	2.01	+0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.91	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.79	0.82	-0.03

Drawdowns

FDVV vs. FDV - Drawdown Comparison

The maximum FDVV drawdown since its inception was -40.25%, which is greater than FDV's maximum drawdown of -16.70%. Use the drawdown chart below to compare losses from any high point for FDVV and FDV.

Drawdown Indicators

	FDVV	FDV	Difference
Max Drawdown Largest peak-to-trough decline	-40.25%	-16.70%	-23.55%
Max Drawdown (1Y) Largest decline over 1 year	-9.30%	-5.70%	-3.60%
Max Drawdown (3Y) Largest decline over 3 years	-15.90%	-12.55%	-3.35%
Max Drawdown (5Y) Largest decline over 5 years	-20.18%	—	—
Current Drawdown Current decline from peak	-1.12%	-0.39%	-0.73%
Average Drawdown Average peak-to-trough decline	-3.81%	-3.93%	+0.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.23%	1.79%	+0.44%

Volatility

FDVV vs. FDV - Volatility Comparison

Fidelity High Dividend ETF (FDVV) has a higher volatility of 3.14% compared to Federated Hermes U.S. Strategic Dividend ETF (FDV) at 2.82%. This indicates that FDVV's price experiences larger fluctuations and is considered to be riskier than FDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDVV	FDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.14%	2.82%	+0.32%
Volatility (6M) Calculated over the trailing 6-month period	7.99%	6.82%	+1.17%
Volatility (1Y) Calculated over the trailing 1-year period	10.06%	10.74%	-0.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.75%	12.65%	+2.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.00%	12.65%	+4.35%

FDVV vs. FDV - Expense Ratio Comparison

FDVV has a 0.29% expense ratio, which is lower than FDV's 0.50% expense ratio.

Dividends

FDVV vs. FDV - Dividend Comparison

FDVV's dividend yield for the trailing twelve months is around 2.72%, more than FDV's 2.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FDV Federated Hermes U.S. Strategic Dividend ETF	2.56%	3.11%	3.12%	3.54%	0.18%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FDVV Fidelity High Dividend ETF	2.72%	2.89%	2.94%	3.77%	3.44%	2.70%	3.19%	3.93%	4.05%	3.66%	1.04%

Frequently Asked Questions

Can I hold both FDVV and FDV in my portfolio?

FDVV and FDV have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDVV or FDV?

FDVV has higher volatility (3.14%) compared to FDV (2.82%). In terms of maximum drawdown, FDVV dropped -40.25% vs FDV's -16.70%.

Which ETF is better, FDVV or FDV?

On 3-year performance, FDVV leads with 20.08% vs 14.78% for FDV. On fees, FDVV is cheaper at 0.29% per year. On volatility, FDV has been the lower-risk option at 2.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDVV or FDV?

Over the 3-year period, FDVV has performed better with a 20.08% return vs 14.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDVV or FDV?

FDVV is cheaper with a 0.29% expense ratio, compared with 0.50% for FDV.

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

FDVV has the higher dividend yield at 2.72%, compared with 2.56% for FDV.

What is the main difference between FDVV and FDV?

FDVV is categorized as Large Cap Blend Equities, while FDV is Large Cap Value Equities. They also come from different issuers: Fidelity and Federated. Their fees differ too: 0.29% for FDVV and 0.50% for FDV.

Which has better risk-adjusted returns?

FDVV currently has the higher Sharpe Ratio (2.35 vs 2.01), 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.