SPDG vs. DIVB

Last updated Jun 24, 2026

SPDG (SPDR Portfolio S&P Sector Neutral Dividend ETF) and DIVB (iShares Core Dividend ETF) are both Dividend funds - SPDG tracks the S&P Sector-Neutral High Yield Dividend Aristocrats Index while DIVB tracks the Morningstar US Dividend and Buyback Index. Both are passively managed. Over the past year, SPDG returned 24.68% vs 27.72% for DIVB. Their correlation of 0.92 suggests significant overlap in exposure. Both charge a 0.05% expense ratio.

Performance

SPDG vs. DIVB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio S&P Sector Neutral Dividend ETF (SPDG) and iShares Core Dividend ETF (DIVB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPDG achieves a 14.47% return, which is significantly lower than DIVB's 17.14% return.

SPDG

• 1D: -0.52%
• 1M: -0.52%
• YTD: 14.47%
• 6M: 13.49%
• 1Y: 24.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DIVB

• 1D: 1.02%
• 1M: 1.64%
• YTD: 17.14%
• 6M: 16.48%
• 1Y: 27.72%
• 3Y*: 21.75%
• 5Y*: 12.39%
• 10Y*: —

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

SPDG vs. DIVB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SPDG SPDR Portfolio S&P Sector Neutral Dividend ETF	14.47%	11.66%	20.22%	8.09%
DIVB iShares Core Dividend ETF	17.14%	15.09%	18.59%	8.10%

Correlation

The correlation between SPDG and DIVB is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (All Time) Calculated using the full available price history since Sep 12, 2023	0.92

The correlation between SPDG and DIVB has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

SPDG vs. DIVB — Risk / Return Rank

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

SPDG

SPDG Risk / Return Rank: 63
SPDG Sharpe Ratio Rank: 64
SPDG Sortino Ratio Rank: 66
SPDG Omega Ratio Rank: 62
SPDG Calmar Ratio Rank: 63
SPDG Martin Ratio Rank: 59

DIVB

DIVB Risk / Return Rank: 78
DIVB Sharpe Ratio Rank: 78
DIVB Sortino Ratio Rank: 79
DIVB Omega Ratio Rank: 76
DIVB Calmar Ratio Rank: 81
DIVB Martin Ratio Rank: 75

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.

SPDG vs. DIVB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio S&P Sector Neutral Dividend ETF (SPDG) and iShares Core Dividend ETF (DIVB). 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.

	SPDG	DIVB	Difference
Sharpe ratio: Return per unit of total volatility	2.00	2.38	-0.38
Sortino ratio: Return per unit of downside risk	2.87	3.34	-0.47
Omega ratio: Gain probability vs. loss probability	1.35	1.42	-0.07
Calmar ratio: Return relative to maximum drawdown	2.97	4.08	-1.11
Martin ratio: Return relative to average drawdown	9.82	13.64	-3.82

SPDG vs. DIVB - Sharpe Ratio Comparison

The current SPDG Sharpe Ratio is 2.00, which is comparable to the DIVB Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of SPDG and DIVB, 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

SPDG vs. DIVB - Drawdown Comparison

The maximum SPDG drawdown since its inception was -15.67%, smaller than the maximum DIVB drawdown of -36.93%. Use the drawdown chart below to compare losses from any high point for SPDG and DIVB.

Drawdown Indicators

	SPDG	DIVB	Difference
Max Drawdown Largest peak-to-trough decline	-15.67%	-36.93%	+21.26%
Max Drawdown (1Y) Largest decline over 1 year	-8.34%	-6.82%	-1.52%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.45%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.08%	—
Current Drawdown Current decline from peak	-2.56%	-1.10%	-1.46%
Average Drawdown Average peak-to-trough decline	-2.19%	-4.97%	+2.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.52%	2.04%	+0.48%

Volatility

SPDG vs. DIVB - Volatility Comparison

SPDR Portfolio S&P Sector Neutral Dividend ETF (SPDG) and iShares Core Dividend ETF (DIVB) have volatilities of 4.69% and 4.61%, 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

	SPDG	DIVB	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.69%	4.61%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	9.65%	8.84%	+0.81%
Volatility (1Y) Calculated over the trailing 1-year period	12.43%	11.70%	+0.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.21%	15.26%	-1.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.21%	18.36%	-4.15%

SPDG vs. DIVB - Expense Ratio Comparison

Both SPDG and DIVB have an expense ratio of 0.05%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

SPDG vs. DIVB - Dividend Comparison

SPDG's dividend yield for the trailing twelve months is around 2.72%, more than DIVB's 2.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DIVB iShares Core Dividend ETF	2.27%	2.50%	2.61%	3.18%	2.02%	1.63%	2.08%	2.07%	2.52%	0.37%
SPDG SPDR Portfolio S&P Sector Neutral Dividend ETF	2.72%	2.87%	2.61%	0.90%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPDG and DIVB in my portfolio?

With a correlation of 0.94, SPDG and DIVB move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SPDG or DIVB?

SPDG has higher volatility (4.69%) compared to DIVB (4.61%). In terms of maximum drawdown, SPDG dropped -15.67% vs DIVB's -36.93%.

Which ETF is better, SPDG or DIVB?

On 1-year performance, DIVB leads with 27.72% vs 24.68% for SPDG. Both ETFs have the same 0.05% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPDG or DIVB?

Over the 1-year period, DIVB has performed better with a 27.72% return vs 24.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPDG or DIVB?

SPDG and DIVB have the same expense ratio: 0.05% per year.

Which ETF pays a higher dividend yield, SPDG or DIVB?

SPDG has the higher dividend yield at 2.72%, compared with 2.27% for DIVB.

What is the main difference between SPDG and DIVB?

SPDG tracks S&P Sector-Neutral High Yield Dividend Aristocrats Index, while DIVB tracks Morningstar US Dividend and Buyback Index. They also come from different issuers: State Street and iShares.

Which has better risk-adjusted returns?

DIVB currently has the higher Sharpe Ratio (2.38 vs 2.00), 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.