HDV vs. ALAI

Last updated Jun 4, 2026

HDV (iShares Core High Dividend ETF) and ALAI (Alger AI Enablers & Adopters ETF) are both exchange-traded funds - HDV is a Dividend fund tracking the Morningstar Dividend Yield Focus Index, while ALAI is a Technology Equities fund actively managed by Alger. HDV is passively managed, while ALAI is actively managed. Over the past year, HDV returned 20.35% vs 63.92% for ALAI. At a correlation of -0.07, they often move in opposite directions. HDV charges 0.08%/yr vs 0.55%/yr for ALAI.

Performance

HDV vs. ALAI - Performance Comparison

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

Returns By Period

In the year-to-date period, HDV achieves a 12.69% return, which is significantly lower than ALAI's 27.17% return.

HDV

• 1D: 0.37%
• 1M: 0.29%
• YTD: 12.69%
• 6M: 12.16%
• 1Y: 20.35%
• 3Y*: 14.94%
• 5Y*: 10.32%
• 10Y*: 9.26%

ALAI

• 1D: -1.25%
• 1M: 13.53%
• YTD: 27.17%
• 6M: 26.74%
• 1Y: 63.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HDV vs. ALAI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HDV iShares Core High Dividend ETF	12.69%	11.90%	5.89%
ALAI Alger AI Enablers & Adopters ETF	27.17%	39.81%	31.43%

Correlation

The correlation between HDV and ALAI is -0.19, 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	-0.19
Correlation (All Time) Calculated using the full available price history since Apr 8, 2024	-0.07

The correlation between HDV and ALAI shifts across timeframes, from -0.19 (1 year) to -0.07 (all time), reflecting how their relationship changes across market environments.

HDV vs. ALAI - Sectors Allocation Comparison

Sectors	HDV	ALAI
Consumer Defensive	24.1%	-
Energy	22.3%	-
Healthcare	16.5%	2.8%
Financial Services	11.1%	2.3%
Utilities	9.2%	2.0%
Technology	8.2%	55.9%
Consumer Cyclical	6.1%	13.7%
Industrials	1.4%	3.2%
Basic Materials	1.2%	-
Communication Services	0.1%	20.1%
Real Estate	-	-

Return for Risk

HDV vs. ALAI — Risk / Return Rank

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

HDV

HDV Risk / Return Rank: 64
HDV Sharpe Ratio Rank: 61
HDV Sortino Ratio Rank: 66
HDV Omega Ratio Rank: 57
HDV Calmar Ratio Rank: 76
HDV Martin Ratio Rank: 61

ALAI

ALAI Risk / Return Rank: 70
ALAI Sharpe Ratio Rank: 81
ALAI Sortino Ratio Rank: 71
ALAI Omega Ratio Rank: 70
ALAI Calmar Ratio Rank: 66
ALAI Martin Ratio Rank: 60

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.

HDV vs. ALAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core High Dividend ETF (HDV) and Alger AI Enablers & Adopters ETF (ALAI). 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.

	HDV	ALAI	Difference
Sharpe ratio: Return per unit of total volatility	2.10	2.67	-0.57
Sortino ratio: Return per unit of downside risk	3.11	3.27	-0.16
Omega ratio: Gain probability vs. loss probability	1.36	1.42	-0.06
Calmar ratio: Return relative to maximum drawdown	3.95	3.30	+0.65
Martin ratio: Return relative to average drawdown	11.02	10.58	+0.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HDV vs. ALAI - Sharpe Ratio Comparison

The current HDV Sharpe Ratio is 2.10, which is comparable to the ALAI Sharpe Ratio of 2.67. The chart below compares the historical Sharpe Ratios of HDV and ALAI, 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

	HDV	ALAI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.10	2.67	-0.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.72	1.71	-0.99

Drawdowns

HDV vs. ALAI - Drawdown Comparison

The maximum HDV drawdown since its inception was -37.04%, which is greater than ALAI's maximum drawdown of -29.36%. Use the drawdown chart below to compare losses from any high point for HDV and ALAI.

Drawdown Indicators

	HDV	ALAI	Difference
Max Drawdown Largest peak-to-trough decline	-37.04%	-29.36%	-7.68%
Max Drawdown (1Y) Largest decline over 1 year	-5.18%	-19.48%	+14.30%
Max Drawdown (3Y) Largest decline over 3 years	-10.49%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.42%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-37.04%	—	—
Current Drawdown Current decline from peak	-2.54%	-1.69%	-0.85%
Average Drawdown Average peak-to-trough decline	-3.09%	-5.14%	+2.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	6.06%	-4.21%

Volatility

HDV vs. ALAI - Volatility Comparison

The current volatility for iShares Core High Dividend ETF (HDV) is 3.19%, while Alger AI Enablers & Adopters ETF (ALAI) has a volatility of 6.97%. This indicates that HDV experiences smaller price fluctuations and is considered to be less risky than ALAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HDV	ALAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.19%	6.97%	-3.78%
Volatility (6M) Calculated over the trailing 6-month period	7.56%	18.57%	-11.01%
Volatility (1Y) Calculated over the trailing 1-year period	9.73%	24.06%	-14.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.82%	28.41%	-15.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.73%	28.41%	-12.68%

HDV vs. ALAI - Expense Ratio Comparison

HDV has a 0.08% expense ratio, which is lower than ALAI's 0.55% expense ratio.

Dividends

HDV vs. ALAI - Dividend Comparison

HDV's dividend yield for the trailing twelve months is around 2.91%, more than ALAI's 1.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ALAI Alger AI Enablers & Adopters ETF	1.18%	1.50%	0.66%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HDV iShares Core High Dividend ETF	2.91%	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 HDV and ALAI in my portfolio?

HDV and ALAI have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HDV or ALAI?

ALAI has higher volatility (6.97%) compared to HDV (3.19%). In terms of maximum drawdown, HDV dropped -37.04% vs ALAI's -29.36%.

Which ETF is better, HDV or ALAI?

On 1-year performance, ALAI leads with 63.92% vs 20.35% for HDV. On fees, HDV is cheaper at 0.08% per year. On volatility, HDV has been the lower-risk option at 3.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HDV or ALAI?

Over the 1-year period, ALAI has performed better with a 63.92% return vs 20.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HDV or ALAI?

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

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

HDV has the higher dividend yield at 2.91%, compared with 1.18% for ALAI.

What is the main difference between HDV and ALAI?

HDV is categorized as Dividend, while ALAI is Technology Equities. They also come from different issuers: iShares and Alger. Their fees differ too: 0.08% for HDV and 0.55% for ALAI.

Which has better risk-adjusted returns?

ALAI currently has the higher Sharpe Ratio (2.67 vs 2.10), 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.