IGM vs. HDV

Last updated Jul 15, 2026

IGM (iShares Expanded Tech Sector ETF) and HDV (iShares Core High Dividend ETF) are both exchange-traded funds - IGM is a Technology Equities fund tracking the S&P North American Expanded Technology Sector Index, while HDV is a Dividend fund tracking the Morningstar Dividend Yield Focus Index. Both are passively managed. Over the past 10 years, IGM returned 24.22%/yr vs 8.96%/yr for HDV. At a 0.48 correlation, their price movements are largely independent. IGM charges 0.39%/yr vs 0.08%/yr for HDV.

Performance

IGM vs. HDV - Performance Comparison

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

Returns By Period

In the year-to-date period, IGM achieves a 24.02% return, which is significantly higher than HDV's 15.11% return. Over the past 10 years, IGM has outperformed HDV with an annualized return of 24.22%, while HDV has yielded a comparatively lower 8.96% annualized return.

IGM

• 1D: 1.23%
• 1M: 0.48%
• 6M: 21.44%
• YTD: 24.02%
• 1Y: 42.19%
• 3Y*: 33.84%
• 5Y*: 19.00%
• 10Y*: 24.22%

HDV

• 1D: -1.04%
• 1M: -0.16%
• 6M: 11.85%
• YTD: 15.11%
• 1Y: 19.18%
• 3Y*: 15.09%
• 5Y*: 11.14%
• 10Y*: 8.96%

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

IGM vs. HDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IGM iShares Expanded Tech Sector ETF	24.02%	26.76%	36.99%	60.68%	-35.83%	25.72%	45.11%	41.81%	2.26%	37.20%
HDV iShares Core High Dividend ETF	15.11%	11.90%	14.16%	1.72%	7.05%	19.45%	-6.48%	20.22%	-3.01%	13.40%

Correlation

The correlation between IGM and HDV is -0.23, 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	-0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (10Y) Calculated over the trailing 10-year period	0.37
Correlation (All Time) Calculated using the full available price history since Mar 31, 2011	0.48

The correlation between IGM and HDV shifts across timeframes, from -0.23 (1 year) to 0.48 (all time), reflecting how their relationship changes across market environments.

IGM vs. HDV - Sectors Allocation Comparison

Sectors	IGM	HDV
Technology	84.7%	0.2%
Communication Services	14.5%	5.2%
Industrials	0.3%	3.6%
Financial Services	0.2%	4.8%
Energy	0.2%	19.6%
Consumer Cyclical	0.0%	9.2%
Basic Materials	0.0%	0.8%
Consumer Defensive	-	24.5%
Healthcare	-	23.7%
Real Estate	-	-
Utilities	-	8.2%

Return for Risk

IGM vs. HDV — Risk / Return Rank

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

IGM

IGM Risk / Return Rank: 64
IGM Sharpe Ratio Rank: 71
IGM Sortino Ratio Rank: 64
IGM Omega Ratio Rank: 63
IGM Calmar Ratio Rank: 65
IGM Martin Ratio Rank: 59

HDV

HDV Risk / Return Rank: 74
HDV Sharpe Ratio Rank: 72
HDV Sortino Ratio Rank: 77
HDV Omega Ratio Rank: 66
HDV Calmar Ratio Rank: 85
HDV Martin Ratio Rank: 71

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.

IGM vs. HDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Expanded Tech Sector ETF (IGM) and iShares Core High Dividend ETF (HDV). 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.

	IGM	HDV	Difference
Sharpe ratio: Return per unit of total volatility	1.81	1.84	-0.03
Sortino ratio: Return per unit of downside risk	2.35	2.73	-0.38
Omega ratio: Gain probability vs. loss probability	1.30	1.31	-0.01
Calmar ratio: Return relative to maximum drawdown	2.58	3.72	-1.14
Martin ratio: Return relative to average drawdown	8.17	10.18	-2.01

IGM vs. HDV - Sharpe Ratio Comparison

The current IGM Sharpe Ratio is 1.81, which is comparable to the HDV Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of IGM and HDV, 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

IGM vs. HDV - Drawdown Comparison

The maximum IGM drawdown since its inception was -65.59%, which is greater than HDV's maximum drawdown of -37.04%. Use the drawdown chart below to compare losses from any high point for IGM and HDV.

Drawdown Indicators

	IGM	HDV	Difference
Max Drawdown Largest peak-to-trough decline	-65.59%	-37.04%	-28.55%
Max Drawdown (1Y) Largest decline over 1 year	-16.44%	-5.18%	-11.26%
Max Drawdown (3Y) Largest decline over 3 years	-26.39%	-10.49%	-15.90%
Max Drawdown (5Y) Largest decline over 5 years	-40.68%	-15.42%	-25.26%
Max Drawdown (10Y) Largest decline over 10 years	-40.68%	-37.04%	-3.64%
Current Drawdown Current decline from peak	-6.35%	-1.60%	-4.75%
Average Drawdown Average peak-to-trough decline	-15.19%	-3.07%	-12.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.18%	1.89%	+3.29%

Volatility

IGM vs. HDV - Volatility Comparison

iShares Expanded Tech Sector ETF (IGM) has a higher volatility of 9.38% compared to iShares Core High Dividend ETF (HDV) at 4.69%. This indicates that IGM's price experiences larger fluctuations and is considered to be riskier than HDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IGM	HDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.38%	4.69%	+4.69%
Volatility (6M) Calculated over the trailing 6-month period	19.56%	8.32%	+11.24%
Volatility (1Y) Calculated over the trailing 1-year period	23.43%	10.50%	+12.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.21%	12.90%	+13.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.76%	15.75%	+9.01%

IGM vs. HDV - Expense Ratio Comparison

IGM has a 0.39% expense ratio, which is higher than HDV's 0.08% expense ratio.

Dividends

IGM vs. HDV - Dividend Comparison

IGM's dividend yield for the trailing twelve months is around 0.14%, less than HDV's 2.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
IGM iShares Expanded Tech Sector ETF	0.14%	0.17%	0.22%	0.33%	0.66%	0.16%	0.32%	0.50%	0.57%	0.57%	0.90%	0.79%

Frequently Asked Questions

Can I hold both IGM and HDV in my portfolio?

IGM and HDV have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IGM or HDV?

IGM has higher volatility (9.38%) compared to HDV (4.69%). In terms of maximum drawdown, IGM dropped -65.59% vs HDV's -37.04%.

Which ETF is better, IGM or HDV?

On 10-year performance, IGM leads with 24.22% vs 8.96% for HDV. On fees, HDV is cheaper at 0.08% per year. On volatility, HDV has been the lower-risk option at 4.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IGM or HDV?

Over the 10-year period, IGM has performed better with a 24.22% return vs 8.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IGM or HDV?

HDV is cheaper with a 0.08% expense ratio, compared with 0.39% for IGM.

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

HDV has the higher dividend yield at 2.87%, compared with 0.14% for IGM.

What is the main difference between IGM and HDV?

IGM is categorized as Technology Equities, while HDV is Dividend. IGM tracks S&P North American Expanded Technology Sector Index, while HDV tracks Morningstar Dividend Yield Focus Index. Their fees differ too: 0.39% for IGM and 0.08% for HDV.

Which has better risk-adjusted returns?

HDV currently has the higher Sharpe Ratio (1.84 vs 1.81), 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.