SDOG vs. HDV

Last updated Aug 2, 2026

SDOG (ALPS Sector Dividend Dogs ETF) and HDV (iShares Core High Dividend ETF) are both exchange-traded funds - SDOG is a Large Cap Value Equities fund tracking the S-Network Sector Dividend Dogs Index, while HDV is a Dividend fund tracking the Morningstar Dividend Yield Focus Index. Both are passively managed. Over the past 10 years, SDOG returned 9.82%/yr vs 9.66%/yr for HDV. Their correlation of 0.85 means they have usually moved in the same direction. SDOG charges 0.36%/yr vs 0.08%/yr for HDV.

Performance

SDOG vs. HDV - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with SDOG having a 20.66% return and HDV slightly lower at 20.03%. Both investments have delivered pretty close results over the past 10 years, with SDOG having a 9.82% annualized return and HDV not far behind at 9.66%.

SDOG

• 1D: -0.43%
• 1M: 2.84%
• 6M: 14.17%
• YTD: 20.66%
• 1Y: 31.23%
• 3Y*: 16.12%
• 5Y*: 10.90%
• 10Y*: 9.82%
• ALL TIME*: 11.77%

HDV

• 1D: 0.03%
• 1M: 2.79%
• 6M: 10.43%
• YTD: 20.03%
• 1Y: 25.63%
• 3Y*: 15.43%
• 5Y*: 12.05%
• 10Y*: 9.66%
• ALL TIME*: 10.83%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HDV iShares Core High Dividend ETF	$196.84M	$160.55M	$106.56M
SDOG ALPS Sector Dividend Dogs ETF	$2.77M	$3.32M	$3.60M

SDOG vs. HDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SDOG ALPS Sector Dividend Dogs ETF	20.66%	11.12%	14.70%	4.19%	-0.20%	24.59%	-0.35%	24.02%	-11.43%	12.65%
HDV iShares Core High Dividend ETF	20.03%	11.90%	14.16%	1.72%	7.05%	19.45%	-6.48%	20.22%	-3.01%	13.40%

Correlation

The correlation between SDOG and HDV is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.71
Correlation (3Y) Balances recent behavior with more history.	0.80
Correlation (5Y) Shows whether the relationship held over a longer period.	0.84
Correlation (10Y) Provides a long-term view across more market conditions.	0.85
Correlation (All Time) Calculated using the full available price history since Jun 29, 2012	0.85

The correlation between SDOG and HDV shifts across timeframes, from 0.71 (1 year) to 0.85 (all time), reflecting how their relationship changes across market environments.

SDOG vs. HDV - Sectors Allocation Comparison

Sectors	SDOG	HDV
Consumer Cyclical	16.8%	9.3%
Technology	11.2%	0.9%
Healthcare	10.5%	23.9%
Utilities	10.5%	8.2%
Financial Services	10.3%	4.7%
Consumer Defensive	10.2%	24.3%
Energy	9.6%	19.8%
Communication Services	9.4%	5.2%
Industrials	8.3%	2.8%
Basic Materials	3.3%	0.8%
Real Estate	-	-

Return for Risk

SDOG vs. HDV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SDOG

SDOG Risk / Return Rank: 94
SDOG Sharpe Ratio Rank: 94
SDOG Sortino Ratio Rank: 95
SDOG Omega Ratio Rank: 92
SDOG Calmar Ratio Rank: 94
SDOG Martin Ratio Rank: 93

HDV

HDV Risk / Return Rank: 92
HDV Sharpe Ratio Rank: 92
HDV Sortino Ratio Rank: 93
HDV Omega Ratio Rank: 90
HDV Calmar Ratio Rank: 94
HDV Martin Ratio Rank: 89

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SDOG vs. HDV - Risk-Adjusted Trends Comparison

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

	SDOG	HDV	Difference
Sharpe ratio: Return per unit of total volatility	2.62	2.39	+0.23
Sortino ratio: Return per unit of downside risk	3.95	3.58	+0.36
Omega ratio: Gain probability vs. loss probability	1.46	1.42	+0.04
Calmar ratio: Return relative to maximum drawdown	4.85	4.98	-0.12
Martin ratio: Return relative to average drawdown	16.71	13.63	+3.09

SDOG vs. HDV - Sharpe Ratio Comparison

The current SDOG Sharpe Ratio is 2.62, which is comparable to the HDV Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of SDOG 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

SDOG vs. HDV - Drawdown Comparison

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

Drawdown Indicators

	SDOG	HDV	Difference
Max Drawdown Largest peak-to-trough decline	-43.56%	-37.04%	-6.52%
Max Drawdown (1Y) Largest decline over 1 year	-6.24%	-5.18%	-1.06%
Max Drawdown (3Y) Largest decline over 3 years	-16.00%	-10.49%	-5.51%
Max Drawdown (5Y) Largest decline over 5 years	-19.84%	-15.42%	-4.42%
Max Drawdown (10Y) Largest decline over 10 years	-43.56%	-37.04%	-6.52%
Current Drawdown Current decline from peak	-2.22%	-1.41%	-0.81%
Average Drawdown Average peak-to-trough decline	-4.87%	-3.06%	-1.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.81%	1.89%	-0.08%

Volatility

SDOG vs. HDV - Volatility Comparison

The current volatility for ALPS Sector Dividend Dogs ETF (SDOG) is 4.12%, while iShares Core High Dividend ETF (HDV) has a volatility of 4.98%. This indicates that SDOG experiences smaller price fluctuations and is considered to be less risky than HDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SDOG	HDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.12%	4.98%	-0.86%
Volatility (6M) Calculated over the trailing 6-month period	8.40%	8.72%	-0.32%
Volatility (1Y) Calculated over the trailing 1-year period	11.59%	10.85%	+0.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.35%	12.95%	+2.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.98%	15.78%	+3.20%

SDOG vs. HDV - Expense Ratio Comparison

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

Dividends

SDOG vs. HDV - Dividend Comparison

SDOG's dividend yield for the trailing twelve months is around 3.33%, more than HDV's 3.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HDV iShares Core High Dividend ETF	3.07%	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	3.33%	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 SDOG and HDV in my portfolio?

SDOG and HDV have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SDOG or HDV?

HDV has higher volatility (4.98%) compared to SDOG (4.12%). In terms of maximum drawdown, SDOG dropped -43.56% vs HDV's -37.04%.

Which ETF is better, SDOG or HDV?

On 10-year performance, SDOG leads with 9.82% vs 9.66% for HDV. On fees, HDV is cheaper at 0.08% per year. On volatility, SDOG has been the lower-risk option at 4.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SDOG or HDV?

Over the 10-year period, SDOG has performed better with a 9.82% return vs 9.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SDOG or HDV?

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

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

SDOG has the higher dividend yield at 3.33%, compared with 3.07% for HDV.

What is the main difference between SDOG and HDV?

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

Which has better risk-adjusted returns?

SDOG currently has the higher Sharpe Ratio (2.62 vs 2.39), 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.