PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
HDV vs. NDIV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HDV vs. NDIV

Last updated Jul 12, 2026
Documentation

HDV (iShares Core High Dividend ETF) and NDIV (Amplify Natural Resources Dividend Income ETF) are both exchange-traded funds - HDV is a Dividend fund tracking the Morningstar Dividend Yield Focus Index, while NDIV is a Energy Equities fund tracking the EQM Natural Resources Dividend Income Index. Both are passively managed. Over the past 3 years, HDV returned 15.04%/yr vs 14.91%/yr for NDIV. A 0.65 correlation means they provide meaningful diversification when combined. HDV charges 0.08%/yr vs 0.59%/yr for NDIV.

Performance

HDV vs. NDIV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core High Dividend ETF (HDV) and Amplify Natural Resources Dividend Income ETF (NDIV). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, HDV achieves a 15.36% return, which is significantly lower than NDIV's 26.12% return.

HDV

1D
0.44%
1M
0.05%
6M
13.47%
YTD
15.36%
1Y
19.24%
3Y*
15.04%
5Y*
11.16%
10Y*
9.03%

NDIV

1D
-0.28%
1M
-4.83%
6M
21.70%
YTD
26.12%
1Y
17.19%
3Y*
14.91%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

HDV vs. NDIV - Yearly Performance Comparison

2026 (YTD)2025202420232022
HDV
iShares Core High Dividend ETF		15.36%11.90%14.16%1.72%2.03%
NDIV
Amplify Natural Resources Dividend Income ETF		26.12%2.85%6.18%15.52%1.50%

Correlation

The correlation between HDV and NDIV 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

0.59

Correlation (All Time)
Calculated using the full available price history since Aug 24, 2022

0.65

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

HDV vs. NDIV - Sectors Allocation Comparison

Sectors
HDV
NDIV

Consumer Defensive

24.5%

-

Healthcare

23.7%

-

Energy

19.6%
74.5%

Consumer Cyclical

9.2%

-

Utilities

8.2%

-

Communication Services

5.2%

-

Financial Services

4.8%
0.1%

Industrials

3.6%
6.4%

Basic Materials

0.8%
18.6%

Technology

0.2%

-

Real Estate

-

-

Consumer Defensive

HDV
24.5%
NDIV

-

Healthcare

HDV
23.7%
NDIV

-

Energy

HDV
19.6%
NDIV
74.5%

Consumer Cyclical

HDV
9.2%
NDIV

-

Utilities

HDV
8.2%
NDIV

-

Communication Services

HDV
5.2%
NDIV

-

Financial Services

HDV
4.8%
NDIV
0.1%

Industrials

HDV
3.6%
NDIV
6.4%

Basic Materials

HDV
0.8%
NDIV
18.6%

Technology

HDV
0.2%
NDIV

-

Real Estate

HDV

-

NDIV

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Core High Dividend ETF

Amplify Natural Resources Dividend Income ETF

Often compared with HDV:
HDV vs. SCHDHDV vs. VYMHDV vs. SPYDHDV vs. DGROHDV vs. DVYHDV vs. VIGHDV vs. SPY
Often compared with NDIV:
NDIV vs. DIVONDIV vs. CCAPNDIV vs. INCONDIV vs. FTRINDIV vs. MLPRNDIV vs. IVVNDIV vs. VRIG

Return for Risk

HDV vs. NDIV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HDV
HDV Risk / Return Rank: 7272
Overall Rank
HDV Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
HDV Sortino Ratio Rank: 7474
Sortino Ratio Rank
HDV Omega Ratio Rank: 6464
Omega Ratio Rank
HDV Calmar Ratio Rank: 8383
Calmar Ratio Rank
HDV Martin Ratio Rank: 6868
Martin Ratio Rank
NDIV
NDIV Risk / Return Rank: 2929
Overall Rank
NDIV Sharpe Ratio Rank: 2929
Sharpe Ratio Rank
NDIV Sortino Ratio Rank: 2727
Sortino Ratio Rank
NDIV Omega Ratio Rank: 2626
Omega Ratio Rank
NDIV Calmar Ratio Rank: 3636
Calmar Ratio Rank
NDIV Martin Ratio Rank: 3030
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.

HDV vs. NDIV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core High Dividend ETF (HDV) and Amplify Natural Resources Dividend Income ETF (NDIV). 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.

HDVNDIVDifference
Sharpe ratioReturn per unit of total volatility
1.79
0.87

+0.92

Sortino ratioReturn per unit of downside risk
2.67
1.26

+1.41

Omega ratioGain probability vs. loss probability

1.31

1.15

+0.15

Calmar ratioReturn relative to maximum drawdown

3.60

1.48

+2.12

Martin ratioReturn relative to average drawdown

9.85

3.34

+6.51

HDV vs. NDIV - Sharpe Ratio Comparison

The current HDV Sharpe Ratio is 1.79, which is higher than the NDIV Sharpe Ratio of 0.87. The chart below compares the historical Sharpe Ratios of HDV and NDIV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

HDV vs. NDIV - Drawdown Comparison

The maximum HDV drawdown since its inception was -37.04%, which is greater than NDIV's maximum drawdown of -19.73%. Use the drawdown chart below to compare losses from any high point for HDV and NDIV.

Loading charts...

Drawdown Indicators

HDVNDIVDifference

Max Drawdown

Largest peak-to-trough decline

-37.04%

-19.73%

-17.31%

Max Drawdown (1Y)

Largest decline over 1 year

-5.18%

-11.56%

+6.38%

Max Drawdown (3Y)

Largest decline over 3 years

-10.49%

-19.73%

+9.24%

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

-1.39%

-8.80%

+7.41%

Average Drawdown

Average peak-to-trough decline

-3.07%

-4.29%

+1.22%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.90%

5.17%

-3.27%

Volatility

HDV vs. NDIV - Volatility Comparison

The current volatility for iShares Core High Dividend ETF (HDV) is 4.51%, while Amplify Natural Resources Dividend Income ETF (NDIV) has a volatility of 5.59%. This indicates that HDV experiences smaller price fluctuations and is considered to be less risky than NDIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

HDVNDIVDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.51%

5.59%

-1.08%

Volatility (6M)

Calculated over the trailing 6-month period

8.34%

13.98%

-5.64%

Volatility (1Y)

Calculated over the trailing 1-year period

10.47%

19.81%

-9.34%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.88%

20.92%

-8.04%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.74%

20.92%

-5.18%

HDV vs. NDIV - Expense Ratio Comparison

HDV has a 0.08% expense ratio, which is lower than NDIV's 0.59% expense ratio.

Dividends

HDV vs. NDIV - Dividend Comparison

HDV's dividend yield for the trailing twelve months is around 2.87%, less than NDIV's 7.42% yield.

PositionTTM20252024202320222021202020192018201720162015
HDV
iShares Core High Dividend ETF		2.87%3.22%3.67%3.82%3.56%3.47%4.07%3.27%3.67%3.27%3.28%3.92%
NDIV
Amplify Natural Resources Dividend Income ETF		7.42%5.64%5.88%7.37%1.69%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

HDV and NDIV 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.

NDIV has higher volatility (5.59%) compared to HDV (4.51%). In terms of maximum drawdown, HDV dropped -37.04% vs NDIV's -19.73%.

On 3-year performance, HDV leads with 15.04% vs 14.91% for NDIV. On fees, HDV is cheaper at 0.08% per year. On volatility, HDV has been the lower-risk option at 4.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, HDV has performed better with a 15.04% return vs 14.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

HDV is cheaper with a 0.08% expense ratio, compared with 0.59% for NDIV.

NDIV has the higher dividend yield at 7.42%, compared with 2.87% for HDV.

HDV is categorized as Dividend, while NDIV is Energy Equities. HDV tracks Morningstar Dividend Yield Focus Index, while NDIV tracks EQM Natural Resources Dividend Income Index. They also come from different issuers: iShares and Amplify. Their fees differ too: 0.08% for HDV and 0.59% for NDIV.

HDV currently has the higher Sharpe Ratio (1.79 vs 0.87), 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.

Portfolio Optimizer

Find the right allocation for HDV and NDIV

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer