HDV vs. SDOG

Last updated Jun 14, 2026

HDV (iShares Core High Dividend ETF) and SDOG (ALPS Sector Dividend Dogs ETF) are both exchange-traded funds - HDV is a Dividend fund tracking the Morningstar Dividend Yield Focus Index, while SDOG is a Large Cap Value Equities fund tracking the S-Network Sector Dividend Dogs Index. Both are passively managed. Over the past 10 years, HDV returned 9.47%/yr vs 9.99%/yr for SDOG. Their correlation of 0.86 suggests significant overlap in exposure. HDV charges 0.08%/yr vs 0.36%/yr for SDOG.

Performance

HDV vs. SDOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core High Dividend ETF (HDV) and ALPS Sector Dividend Dogs ETF (SDOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HDV achieves a 15.30% return, which is significantly lower than SDOG's 17.13% return. Over the past 10 years, HDV has underperformed SDOG with an annualized return of 9.47%, while SDOG has yielded a comparatively higher 9.99% annualized return.

HDV

• 1D: 0.87%
• 1M: 2.05%
• YTD: 15.30%
• 6M: 15.20%
• 1Y: 21.86%
• 3Y*: 15.16%
• 5Y*: 10.91%
• 10Y*: 9.47%

SDOG

• 1D: 1.26%
• 1M: 5.43%
• YTD: 17.13%
• 6M: 16.28%
• 1Y: 27.16%
• 3Y*: 16.38%
• 5Y*: 9.08%
• 10Y*: 9.99%

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

HDV vs. SDOG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HDV iShares Core High Dividend ETF	15.30%	11.90%	14.16%	1.72%	7.05%	19.45%	-6.48%	20.22%	-3.01%	13.40%
SDOG ALPS Sector Dividend Dogs ETF	17.13%	11.12%	14.70%	4.19%	-0.20%	24.59%	-0.35%	24.02%	-11.43%	12.65%

Correlation

The correlation between HDV and SDOG is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Jun 29, 2012	0.86

The correlation between HDV and SDOG shifts across timeframes, from 0.70 (1 year) to 0.86 (all time), reflecting how their relationship changes across market environments.

HDV vs. SDOG - Sectors Allocation Comparison

Sectors	HDV	SDOG
Consumer Defensive	24.2%	9.5%
Energy	21.0%	9.1%
Healthcare	17.0%	9.8%
Financial Services	10.8%	10.6%
Technology	9.7%	16.2%
Utilities	8.9%	9.2%
Consumer Cyclical	6.0%	16.3%
Industrials	1.3%	7.5%
Basic Materials	1.1%	3.5%
Communication Services	0.1%	8.4%
Real Estate	-	-

Return for Risk

HDV vs. SDOG — Risk / Return Rank

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

HDV

HDV Risk / Return Rank: 80
HDV Sharpe Ratio Rank: 81
HDV Sortino Ratio Rank: 85
HDV Omega Ratio Rank: 76
HDV Calmar Ratio Rank: 86
HDV Martin Ratio Rank: 72

SDOG

SDOG Risk / Return Rank: 83
SDOG Sharpe Ratio Rank: 83
SDOG Sortino Ratio Rank: 87
SDOG Omega Ratio Rank: 78
SDOG Calmar Ratio Rank: 86
SDOG Martin Ratio Rank: 80

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. SDOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core High Dividend ETF (HDV) and ALPS Sector Dividend Dogs ETF (SDOG). 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.

	HDV	SDOG	Difference
Sharpe ratio: Return per unit of total volatility	2.23	2.30	-0.07
Sortino ratio: Return per unit of downside risk	3.29	3.45	-0.16
Omega ratio: Gain probability vs. loss probability	1.38	1.40	-0.02
Calmar ratio: Return relative to maximum drawdown	4.18	4.25	-0.07
Martin ratio: Return relative to average drawdown	11.59	13.63	-2.04

HDV vs. SDOG - Sharpe Ratio Comparison

The current HDV Sharpe Ratio is 2.23, which is comparable to the SDOG Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of HDV and SDOG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HDV vs. SDOG - Drawdown Comparison

The maximum HDV drawdown since its inception was -37.04%, smaller than the maximum SDOG drawdown of -43.56%. Use the drawdown chart below to compare losses from any high point for HDV and SDOG.

Drawdown Indicators

	HDV	SDOG	Difference
Max Drawdown Largest peak-to-trough decline	-37.04%	-43.56%	+6.52%
Max Drawdown (1Y) Largest decline over 1 year	-5.18%	-6.24%	+1.06%
Max Drawdown (3Y) Largest decline over 3 years	-10.49%	-16.00%	+5.51%
Max Drawdown (5Y) Largest decline over 5 years	-15.42%	-19.84%	+4.42%
Max Drawdown (10Y) Largest decline over 10 years	-37.04%	-43.56%	+6.52%
Current Drawdown Current decline from peak	-0.29%	0.00%	-0.29%
Average Drawdown Average peak-to-trough decline	-3.08%	-4.91%	+1.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.87%	1.94%	-0.07%

Volatility

HDV vs. SDOG - Volatility Comparison

The current volatility for iShares Core High Dividend ETF (HDV) is 3.10%, while ALPS Sector Dividend Dogs ETF (SDOG) has a volatility of 3.34%. This indicates that HDV experiences smaller price fluctuations and is considered to be less risky than SDOG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HDV	SDOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.10%	3.34%	-0.24%
Volatility (6M) Calculated over the trailing 6-month period	7.44%	8.02%	-0.58%
Volatility (1Y) Calculated over the trailing 1-year period	9.73%	11.52%	-1.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.83%	15.44%	-2.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.73%	19.06%	-3.33%

HDV vs. SDOG - Expense Ratio Comparison

HDV has a 0.08% expense ratio, which is lower than SDOG's 0.36% expense ratio.

Dividends

HDV vs. SDOG - Dividend Comparison

HDV's dividend yield for the trailing twelve months is around 2.84%, less than SDOG's 3.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HDV iShares Core High Dividend ETF	2.84%	3.22%	3.67%	3.82%	3.56%	3.47%	4.07%	3.27%	3.67%	3.27%	3.28%	3.92%
SDOG ALPS Sector Dividend Dogs ETF	3.26%	3.68%	3.86%	4.29%	3.87%	3.62%	3.63%	3.37%	4.03%	3.27%	3.32%	3.61%

Frequently Asked Questions

Can I hold both HDV and SDOG in my portfolio?

HDV and SDOG have a correlation of 0.70, 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 SDOG?

SDOG has higher volatility (3.34%) compared to HDV (3.10%). In terms of maximum drawdown, HDV dropped -37.04% vs SDOG's -43.56%.

Which ETF is better, HDV or SDOG?

On 10-year performance, SDOG leads with 9.99% vs 9.47% for HDV. On fees, HDV is cheaper at 0.08% per year. On volatility, HDV has been the lower-risk option at 3.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HDV or SDOG?

Over the 10-year period, SDOG has performed better with a 9.99% return vs 9.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HDV or SDOG?

HDV is cheaper with a 0.08% expense ratio, compared with 0.36% for SDOG.

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

SDOG has the higher dividend yield at 3.26%, compared with 2.84% for HDV.

What is the main difference between HDV and SDOG?

HDV is categorized as Dividend, while SDOG is Large Cap Value Equities. HDV tracks Morningstar Dividend Yield Focus Index, while SDOG tracks S-Network Sector Dividend Dogs Index. They also come from different issuers: iShares and SS&C. Their fees differ too: 0.08% for HDV and 0.36% for SDOG.

Which has better risk-adjusted returns?

SDOG currently has the higher Sharpe Ratio (2.30 vs 2.23), 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.