SDY vs. SDOG

Last updated Aug 6, 2026

SDY (SPDR S&P Dividend ETF) and SDOG (ALPS Sector Dividend Dogs ETF) are both exchange-traded funds - SDY is a Mid Cap Value Equities fund tracking the S&P High Yield Dividend Aristocrats 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, SDY returned 9.43%/yr vs 9.72%/yr for SDOG. Their correlation of 0.91 means they have usually moved in the same direction. SDY charges 0.35%/yr vs 0.36%/yr for SDOG.

Performance

SDY vs. SDOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Dividend ETF (SDY) 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, SDY achieves a 14.35% return, which is significantly lower than SDOG's 21.12% return. Both investments have delivered pretty close results over the past 10 years, with SDY having a 9.43% annualized return and SDOG not far ahead at 9.72%.

SDY

• 1D: -0.06%
• 1M: 1.40%
• 6M: 4.24%
• YTD: 14.35%
• 1Y: 16.81%
• 3Y*: 10.98%
• 5Y*: 7.73%
• 10Y*: 9.43%
• ALL TIME*: 9.07%

SDOG

• 1D: -0.94%
• 1M: 3.78%
• 6M: 10.94%
• YTD: 21.12%
• 1Y: 30.19%
• 3Y*: 16.93%
• 5Y*: 10.90%
• 10Y*: 9.72%
• ALL TIME*: 11.79%

*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)
SDOG ALPS Sector Dividend Dogs ETF	$3.61M	$3.57M	$3.76M
SDY SPDR S&P Dividend ETF	$32.37M	$30.67M	$33.82M

SDY vs. SDOG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SDY SPDR S&P Dividend ETF	14.35%	8.18%	8.45%	2.61%	-0.54%	25.32%	1.71%	23.29%	-2.74%	15.82%
SDOG ALPS Sector Dividend Dogs ETF	21.12%	11.12%	14.70%	4.19%	-0.20%	24.59%	-0.35%	24.02%	-11.43%	12.65%

Correlation

The correlation between SDY and SDOG is 0.87, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.87
Correlation (3Y) Balances recent behavior with more history.	0.90
Correlation (5Y) Shows whether the relationship held over a longer period.	0.92
Correlation (10Y) Provides a long-term view across more market conditions.	0.91
Correlation (All Time) Calculated using the full available price history since Jun 29, 2012	0.91

The correlation between SDY and SDOG has been stable across timeframes, ranging from 0.87 to 0.92 - a consistent structural relationship.

SDY vs. SDOG - Sectors Allocation Comparison

Sectors	SDY	SDOG
Industrials	17.5%	8.3%
Consumer Defensive	16.3%	10.2%
Utilities	14.2%	10.5%
Financial Services	12.6%	10.3%
Technology	10.3%	11.2%
Healthcare	7.9%	10.5%
Consumer Cyclical	5.9%	16.8%
Basic Materials	5.8%	3.3%
Real Estate	4.4%	-
Energy	2.8%	9.6%
Communication Services	2.2%	9.4%

Return for Risk

SDY vs. SDOG — Risk / Return Rank

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

SDY

SDY Risk / Return Rank: 55
SDY Sharpe Ratio Rank: 57
SDY Sortino Ratio Rank: 64
SDY Omega Ratio Rank: 53
SDY Calmar Ratio Rank: 54
SDY Martin Ratio Rank: 46

SDOG

SDOG Risk / Return Rank: 92
SDOG Sharpe Ratio Rank: 92
SDOG Sortino Ratio Rank: 94
SDOG Omega Ratio Rank: 90
SDOG Calmar Ratio Rank: 93
SDOG Martin Ratio Rank: 91

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.

SDY vs. SDOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Dividend ETF (SDY) 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.

	SDY	SDOG	Difference
Sharpe ratio: Return per unit of total volatility	1.57	2.62	-1.05
Sortino ratio: Return per unit of downside risk	2.41	3.95	-1.54
Omega ratio: Gain probability vs. loss probability	1.27	1.46	-0.18
Calmar ratio: Return relative to maximum drawdown	2.20	4.86	-2.66
Martin ratio: Return relative to average drawdown	5.92	16.67	-10.75

SDY vs. SDOG - Sharpe Ratio Comparison

The current SDY Sharpe Ratio is 1.57, which is lower than the SDOG Sharpe Ratio of 2.62. The chart below compares the historical Sharpe Ratios of SDY 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

SDY vs. SDOG - Drawdown Comparison

The maximum SDY drawdown since its inception was -54.75%, which is greater than SDOG's maximum drawdown of -43.56%. Use the drawdown chart below to compare losses from any high point for SDY and SDOG.

Drawdown Indicators

	SDY	SDOG	Difference
Max Drawdown Largest peak-to-trough decline	-54.75%	-43.56%	-11.19%
Max Drawdown (1Y) Largest decline over 1 year	-7.67%	-6.24%	-1.43%
Max Drawdown (3Y) Largest decline over 3 years	-14.39%	-16.00%	+1.61%
Max Drawdown (5Y) Largest decline over 5 years	-15.21%	-19.84%	+4.63%
Max Drawdown (10Y) Largest decline over 10 years	-36.70%	-43.56%	+6.86%
Current Drawdown Current decline from peak	-0.98%	-1.85%	+0.87%
Average Drawdown Average peak-to-trough decline	-6.17%	-4.87%	-1.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.85%	1.82%	+1.03%

Volatility

SDY vs. SDOG - Volatility Comparison

SPDR S&P Dividend ETF (SDY) and ALPS Sector Dividend Dogs ETF (SDOG) have volatilities of 4.13% and 3.98%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SDY	SDOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.13%	3.98%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	8.12%	8.45%	-0.33%
Volatility (1Y) Calculated over the trailing 1-year period	10.75%	11.59%	-0.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.01%	15.33%	-1.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.09%	18.98%	-1.89%

SDY vs. SDOG - Expense Ratio Comparison

SDY has a 0.35% expense ratio, which is lower than SDOG's 0.36% expense ratio.

Dividends

SDY vs. SDOG - Dividend Comparison

SDY's dividend yield for the trailing twelve months is around 2.37%, less than SDOG's 3.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SDOG ALPS Sector Dividend Dogs ETF	3.31%	3.68%	3.86%	4.29%	3.87%	3.62%	3.63%	3.37%	4.03%	3.27%	3.32%	3.61%
SDY SPDR S&P Dividend ETF	2.37%	2.61%	2.56%	2.64%	2.55%	2.63%	2.85%	2.45%	2.73%	4.69%	3.30%	6.20%

Frequently Asked Questions

Can I hold both SDY and SDOG in my portfolio?

SDY and SDOG have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SDY or SDOG?

SDY has higher volatility (4.13%) compared to SDOG (3.98%). In terms of maximum drawdown, SDY dropped -54.75% vs SDOG's -43.56%.

Which ETF is better, SDY or SDOG?

On 10-year performance, SDOG leads with 9.72% vs 9.43% for SDY. On fees, SDY is cheaper at 0.35% per year. On volatility, SDOG has been the lower-risk option at 3.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SDY or SDOG?

Over the 10-year period, SDOG has performed better with a 9.72% return vs 9.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SDY or SDOG?

SDY is cheaper with a 0.35% expense ratio, compared with 0.36% for SDOG.

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

SDOG has the higher dividend yield at 3.31%, compared with 2.37% for SDY.

What is the main difference between SDY and SDOG?

SDY is categorized as Mid Cap Value Equities, while SDOG is Large Cap Value Equities. SDY tracks S&P High Yield Dividend Aristocrats Index, while SDOG tracks S-Network Sector Dividend Dogs Index. They also come from different issuers: State Street and SS&C. Their fees differ too: 0.35% for SDY and 0.36% for SDOG.

Which has better risk-adjusted returns?

SDOG currently has the higher Sharpe Ratio (2.62 vs 1.57), 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.