IYW vs. HDV
IYW (iShares U.S. Technology ETF) and HDV (iShares Core High Dividend ETF) are both exchange-traded funds - IYW is a Technology Equities fund tracking the Russell 1000 Technology RIC 22.5/45 Capped Index, while HDV is a Dividend fund tracking the Morningstar Dividend Yield Focus Index. Both are passively managed. Over the past 10 years, IYW returned 26.44%/yr vs 9.31%/yr for HDV. At a 0.47 correlation, their price movements are largely independent. IYW charges 0.38%/yr vs 0.08%/yr for HDV.
Performance
IYW vs. HDV - Performance Comparison
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Returns By Period
In the year-to-date period, IYW achieves a 26.93% return, which is significantly higher than HDV's 12.57% return. Over the past 10 years, IYW has outperformed HDV with an annualized return of 26.44%, while HDV has yielded a comparatively lower 9.31% annualized return.
IYW
- 1D
- -0.11%
- 1M
- 4.79%
- YTD
- 26.93%
- 6M
- 26.17%
- 1Y
- 54.53%
- 3Y*
- 33.87%
- 5Y*
- 21.45%
- 10Y*
- 26.44%
HDV
- 1D
- 0.15%
- 1M
- -2.65%
- YTD
- 12.57%
- 6M
- 12.67%
- 1Y
- 19.54%
- 3Y*
- 14.97%
- 5Y*
- 10.90%
- 10Y*
- 9.31%
IYW vs. HDV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IYW iShares U.S. Technology ETF | 26.93% | 25.38% | 30.25% | 65.44% | -34.83% | 35.44% | 47.45% | 46.64% | -0.93% | 36.60% |
HDV iShares Core High Dividend ETF | 12.57% | 11.90% | 14.16% | 1.72% | 7.05% | 19.45% | -6.48% | 20.22% | -3.01% | 13.40% |
Correlation
The correlation between IYW and HDV is -0.18, 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 | -0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2011 | 0.47 |
The correlation between IYW and HDV shifts across timeframes, from -0.18 (1 year) to 0.47 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IYW vs. HDV — Risk / Return Rank
IYW
HDV
IYW vs. HDV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Technology ETF (IYW) 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.
| IYW | HDV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.50 | ||
| Sortino ratioReturn per unit of downside risk | +0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.34 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.08 | 3.79 | -0.71 |
| Martin ratioReturn relative to average drawdown | 9.84 | 10.39 | -0.55 |
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Drawdowns
IYW vs. HDV - Drawdown Comparison
The maximum IYW drawdown since its inception was -81.90%, which is greater than HDV's maximum drawdown of -37.04%. Use the drawdown chart below to compare losses from any high point for IYW and HDV.
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Drawdown Indicators
| IYW | HDV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.90% | -37.04% | -44.86% |
Max Drawdown (1Y)Largest decline over 1 year | -17.81% | -5.18% | -12.63% |
Max Drawdown (3Y)Largest decline over 3 years | -26.47% | -10.49% | -15.98% |
Max Drawdown (5Y)Largest decline over 5 years | -39.44% | -15.42% | -24.02% |
Max Drawdown (10Y)Largest decline over 10 years | -39.44% | -37.04% | -2.40% |
Current DrawdownCurrent decline from peak | -2.53% | -2.65% | +0.12% |
Average DrawdownAverage peak-to-trough decline | -34.60% | -3.08% | -31.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.56% | 1.89% | +3.67% |
Volatility
IYW vs. HDV - Volatility Comparison
iShares U.S. Technology ETF (IYW) has a higher volatility of 10.30% compared to iShares Core High Dividend ETF (HDV) at 3.37%. This indicates that IYW'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.
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Volatility by Period
| IYW | HDV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.30% | 3.37% | +6.93% |
Volatility (6M)Calculated over the trailing 6-month period | 18.02% | 7.52% | +10.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.00% | 9.87% | +12.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.18% | 12.80% | +13.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.26% | 15.74% | +9.52% |
IYW vs. HDV - Expense Ratio Comparison
IYW has a 0.38% expense ratio, which is higher than HDV's 0.08% expense ratio.
Dividends
IYW vs. HDV - Dividend Comparison
IYW's dividend yield for the trailing twelve months is around 0.10%, less than HDV's 2.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HDV iShares Core High Dividend ETF | 2.94% | 3.22% | 3.67% | 3.82% | 3.56% | 3.47% | 4.07% | 3.27% | 3.67% | 3.27% | 3.28% | 3.92% |
IYW iShares U.S. Technology ETF | 0.10% | 0.14% | 0.21% | 0.34% | 0.50% | 0.31% | 0.56% | 0.72% | 0.92% | 0.82% | 1.14% | 1.12% |
Frequently Asked Questions
IYW and HDV have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IYW has higher volatility (10.30%) compared to HDV (3.37%). In terms of maximum drawdown, IYW dropped -81.90% vs HDV's -37.04%.
On 10-year performance, IYW leads with 26.44% vs 9.31% for HDV. On fees, HDV is cheaper at 0.08% per year. On volatility, HDV has been the lower-risk option at 3.37%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IYW has performed better with a 26.44% return vs 9.31%. 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 0.38% for IYW.
HDV has the higher dividend yield at 2.94%, compared with 0.10% for IYW.
IYW is categorized as Technology Equities, while HDV is Dividend. IYW tracks Russell 1000 Technology RIC 22.5/45 Capped Index, while HDV tracks Morningstar Dividend Yield Focus Index. Their fees differ too: 0.38% for IYW and 0.08% for HDV.
IYW currently has the higher Sharpe Ratio (2.50 vs 1.99), 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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