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HDV vs. XLU
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HDV vs. XLU

Last updated Jun 14, 2026

HDV (iShares Core High Dividend ETF) and XLU (State Street Utilities Select Sector SPDR ETF) are both exchange-traded funds - HDV is a Dividend fund tracking the Morningstar Dividend Yield Focus Index, while XLU is a Utilities Equities fund tracking the Utilities Select Sector Index. Both are passively managed. Over the past 10 years, HDV returned 9.47%/yr vs 9.20%/yr for XLU. A 0.58 correlation means they provide meaningful diversification when combined. Both charge a 0.08% expense ratio.

Performance

HDV vs. XLU - Performance Comparison

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

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Returns By Period

In the year-to-date period, HDV achieves a 15.30% return, which is significantly higher than XLU's 5.04% return. Both investments have delivered pretty close results over the past 10 years, with HDV having a 9.47% annualized return and XLU not far behind at 9.20%.

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%

XLU

1D
1.09%
1M
-0.82%
YTD
5.04%
6M
5.48%
1Y
12.50%
3Y*
13.79%
5Y*
9.41%
10Y*
9.20%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HDV vs. XLU - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
XLU
State Street Utilities Select Sector SPDR ETF		5.04%16.03%23.31%-7.18%1.44%17.70%0.51%25.93%3.94%12.05%

Correlation

The correlation between HDV and XLU is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.44

Correlation (3Y)
Calculated over the trailing 3-year period

0.58

Correlation (5Y)
Calculated over the trailing 5-year period

0.59

Correlation (10Y)
Calculated over the trailing 10-year period

0.54

Correlation (All Time)
Calculated using the full available price history since Mar 31, 2011

0.58

The correlation between HDV and XLU shifts across timeframes, from 0.44 (1 year) to 0.59 (5 years), reflecting how their relationship changes across market environments.

HDV vs. XLU - Sectors Allocation Comparison

Sectors
HDV
XLU

Consumer Defensive

24.2%

-

Energy

21.0%

-

Healthcare

17.0%

-

Financial Services

10.8%

-

Technology

9.7%

-

Utilities

8.9%
100.0%

Consumer Cyclical

6.0%

-

Industrials

1.3%

-

Basic Materials

1.1%

-

Communication Services

0.1%

-

Real Estate

-

-

Consumer Defensive

HDV
24.2%
XLU

-

Energy

HDV
21.0%
XLU

-

Healthcare

HDV
17.0%
XLU

-

Financial Services

HDV
10.8%
XLU

-

Technology

HDV
9.7%
XLU

-

Utilities

HDV
8.9%
XLU
100.0%

Consumer Cyclical

HDV
6.0%
XLU

-

Industrials

HDV
1.3%
XLU

-

Basic Materials

HDV
1.1%
XLU

-

Communication Services

HDV
0.1%
XLU

-

Real Estate

HDV

-

XLU

-

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

State Street Utilities Select Sector SPDR ETF

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Often compared with XLU:
XLU vs. VPUXLU vs. XLEXLU vs. XLPXLU vs. SPYXLU vs. FUTYXLU vs. UTESXLU vs. IDU

Return for Risk

HDV vs. XLU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HDV
HDV Risk / Return Rank: 8080
Overall Rank
HDV Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
HDV Sortino Ratio Rank: 8585
Sortino Ratio Rank
HDV Omega Ratio Rank: 7676
Omega Ratio Rank
HDV Calmar Ratio Rank: 8686
Calmar Ratio Rank
HDV Martin Ratio Rank: 7272
Martin Ratio Rank
XLU
XLU Risk / Return Rank: 2626
Overall Rank
XLU Sharpe Ratio Rank: 2626
Sharpe Ratio Rank
XLU Sortino Ratio Rank: 2424
Sortino Ratio Rank
XLU Omega Ratio Rank: 2424
Omega Ratio Rank
XLU Calmar Ratio Rank: 3030
Calmar Ratio Rank
XLU Martin Ratio Rank: 2424
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. XLU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core High Dividend ETF (HDV) and State Street Utilities Select Sector SPDR ETF (XLU). 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.

HDVXLUDifference
Sharpe ratioReturn per unit of total volatility
2.23
0.81

+1.41

Sortino ratioReturn per unit of downside risk
3.29
1.18

+2.11

Omega ratioGain probability vs. loss probability

1.38

1.15

+0.24

Calmar ratioReturn relative to maximum drawdown

4.18

1.30

+2.88

Martin ratioReturn relative to average drawdown

11.59

2.80

+8.79

HDV vs. XLU - Sharpe Ratio Comparison

The current HDV Sharpe Ratio is 2.23, which is higher than the XLU Sharpe Ratio of 0.81. The chart below compares the historical Sharpe Ratios of HDV and XLU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

HDV vs. XLU - Drawdown Comparison

The maximum HDV drawdown since its inception was -37.04%, smaller than the maximum XLU drawdown of -51.98%. Use the drawdown chart below to compare losses from any high point for HDV and XLU.

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Drawdown Indicators

HDVXLUDifference

Max Drawdown

Largest peak-to-trough decline

-37.04%

-51.98%

+14.94%

Max Drawdown (1Y)

Largest decline over 1 year

-5.18%

-9.18%

+4.00%

Max Drawdown (3Y)

Largest decline over 3 years

-10.49%

-17.26%

+6.77%

Max Drawdown (5Y)

Largest decline over 5 years

-15.42%

-25.26%

+9.84%

Max Drawdown (10Y)

Largest decline over 10 years

-37.04%

-36.07%

-0.97%

Current Drawdown

Current decline from peak

-0.29%

-6.05%

+5.76%

Average Drawdown

Average peak-to-trough decline

-3.08%

-10.22%

+7.14%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.87%

4.25%

-2.38%

Volatility

HDV vs. XLU - Volatility Comparison

The current volatility for iShares Core High Dividend ETF (HDV) is 3.10%, while State Street Utilities Select Sector SPDR ETF (XLU) has a volatility of 5.59%. This indicates that HDV experiences smaller price fluctuations and is considered to be less risky than XLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HDVXLUDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.10%

5.59%

-2.49%

Volatility (6M)

Calculated over the trailing 6-month period

7.44%

11.68%

-4.24%

Volatility (1Y)

Calculated over the trailing 1-year period

9.73%

14.66%

-4.93%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.83%

17.34%

-4.51%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.73%

19.27%

-3.54%

HDV vs. XLU - Expense Ratio Comparison

Both HDV and XLU have an expense ratio of 0.08%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

HDV vs. XLU - Dividend Comparison

HDV's dividend yield for the trailing twelve months is around 2.84%, more than XLU's 2.67% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
XLU
State Street Utilities Select Sector SPDR ETF		2.67%2.71%2.96%3.39%2.92%2.79%3.14%2.95%3.33%3.33%3.41%3.67%

Frequently Asked Questions

HDV and XLU have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

XLU has higher volatility (5.59%) compared to HDV (3.10%). In terms of maximum drawdown, HDV dropped -37.04% vs XLU's -51.98%.

On 10-year performance, HDV leads with 9.47% vs 9.20% for XLU. Both ETFs have the same 0.08% expense ratio. 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.

Over the 10-year period, HDV has performed better with a 9.47% return vs 9.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

HDV and XLU have the same expense ratio: 0.08% per year.

HDV has the higher dividend yield at 2.84%, compared with 2.67% for XLU.

HDV is categorized as Dividend, while XLU is Utilities Equities. HDV tracks Morningstar Dividend Yield Focus Index, while XLU tracks Utilities Select Sector Index. They also come from different issuers: iShares and State Street.

HDV currently has the higher Sharpe Ratio (2.23 vs 0.81), 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.

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