SPDG vs. NDIV

Last updated Aug 4, 2026

SPDG (SPDR Portfolio S&P Sector Neutral Dividend ETF) and NDIV (Amplify Energy & Natural Resources Covered Call ETF) are both exchange-traded funds - SPDG is a Dividend fund tracking the S&P Sector-Neutral High Yield Dividend Aristocrats Index, while NDIV is a Energy Equities fund tracking the VettaFi Energy and Natural Resources Covered Call Index. Both are passively managed. Over the past year, SPDG returned 25.12% vs 32.03% for NDIV. Their 0.43 correlation means their historical movements had little consistent relationship. SPDG charges 0.05%/yr vs 0.59%/yr for NDIV.

Performance

SPDG vs. NDIV - 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 Amplify Energy & Natural Resources Covered Call ETF (NDIV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPDG achieves a 14.79% return, which is significantly lower than NDIV's 31.93% return.

SPDG

• 1D: 0.49%
• 1M: -0.29%
• 6M: 6.75%
• YTD: 14.79%
• 1Y: 25.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 19.30%

NDIV

• 1D: -1.30%
• 1M: 6.64%
• 6M: 17.60%
• YTD: 31.93%
• 1Y: 32.03%
• 3Y*: 15.51%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.22%

*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)
NDIV Amplify Energy & Natural Resources Covered Call ETF	$378.89K	$377.35K	$495.03K
SPDG SPDR Portfolio S&P Sector Neutral Dividend ETF	$47.62K	$41.21K	$36.93K

SPDG vs. NDIV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SPDG SPDR Portfolio S&P Sector Neutral Dividend ETF	14.79%	11.66%	20.22%	8.09%
NDIV Amplify Energy & Natural Resources Covered Call ETF	31.93%	2.85%	6.18%	5.12%

Correlation

The correlation between SPDG and NDIV is 0.27, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.27
Correlation (All Time) Calculated using the full available price history since Sep 12, 2023	0.43

The correlation between SPDG and NDIV shifts across timeframes, from 0.27 (1 year) to 0.43 (all time), reflecting how their relationship changes across market environments.

SPDG vs. NDIV - Sectors Allocation Comparison

Sectors	SPDG	NDIV
Technology	32.4%	-
Financial Services	13.3%	0.7%
Healthcare	10.2%	-
Consumer Cyclical	9.6%	-
Industrials	9.0%	6.5%
Communication Services	8.6%	-
Consumer Defensive	5.4%	-
Energy	4.1%	80.6%
Utilities	2.6%	-
Real Estate	2.4%	-
Basic Materials	2.2%	19.2%

Return for Risk

SPDG vs. NDIV — Risk / Return Rank

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

SPDG

SPDG Risk / Return Rank: 82
SPDG Sharpe Ratio Rank: 84
SPDG Sortino Ratio Rank: 85
SPDG Omega Ratio Rank: 82
SPDG Calmar Ratio Rank: 81
SPDG Martin Ratio Rank: 76

NDIV

NDIV Risk / Return Rank: 66
NDIV Sharpe Ratio Rank: 70
NDIV Sortino Ratio Rank: 66
NDIV Omega Ratio Rank: 63
NDIV Calmar Ratio Rank: 76
NDIV Martin Ratio Rank: 56

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.

SPDG vs. NDIV - 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 Amplify Energy & Natural Resources Covered Call ETF (NDIV). 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	NDIV	Difference
Sharpe ratio: Return per unit of total volatility	2.03	1.66	+0.37
Sortino ratio: Return per unit of downside risk	2.91	2.23	+0.68
Omega ratio: Gain probability vs. loss probability	1.36	1.28	+0.08
Calmar ratio: Return relative to maximum drawdown	3.03	2.78	+0.24
Martin ratio: Return relative to average drawdown	9.88	6.86	+3.02

SPDG vs. NDIV - Sharpe Ratio Comparison

The current SPDG Sharpe Ratio is 2.03, which is comparable to the NDIV Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of SPDG and NDIV, 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. NDIV - Drawdown Comparison

The maximum SPDG drawdown since its inception was -15.67%, smaller than the maximum NDIV drawdown of -19.73%. Use the drawdown chart below to compare losses from any high point for SPDG and NDIV.

Drawdown Indicators

	SPDG	NDIV	Difference
Max Drawdown Largest peak-to-trough decline	-15.67%	-19.73%	+4.06%
Max Drawdown (1Y) Largest decline over 1 year	-8.34%	-11.56%	+3.22%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.73%	—
Current Drawdown Current decline from peak	-2.29%	-4.60%	+2.31%
Average Drawdown Average peak-to-trough decline	-2.19%	-4.31%	+2.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.55%	4.68%	-2.13%

Volatility

SPDG vs. NDIV - Volatility Comparison

The current volatility for SPDR Portfolio S&P Sector Neutral Dividend ETF (SPDG) is 3.53%, while Amplify Energy & Natural Resources Covered Call ETF (NDIV) has a volatility of 5.26%. This indicates that SPDG experiences smaller price fluctuations and is considered to be less risky than NDIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPDG	NDIV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.53%	5.26%	-1.73%
Volatility (6M) Calculated over the trailing 6-month period	9.54%	13.69%	-4.15%
Volatility (1Y) Calculated over the trailing 1-year period	12.45%	19.39%	-6.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.10%	20.88%	-6.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.10%	20.88%	-6.78%

SPDG vs. NDIV - Expense Ratio Comparison

SPDG has a 0.05% expense ratio, which is lower than NDIV's 0.59% expense ratio.

Dividends

SPDG vs. NDIV - Dividend Comparison

SPDG's dividend yield for the trailing twelve months is around 2.71%, less than NDIV's 7.79% yield.

Position	TTM	2025	2024	2023	2022
NDIV Amplify Energy & Natural Resources Covered Call ETF	7.79%	5.64%	5.88%	7.37%	1.69%
SPDG SPDR Portfolio S&P Sector Neutral Dividend ETF	2.71%	2.87%	2.61%	0.90%	0.00%

Frequently Asked Questions

Can I hold both SPDG and NDIV in my portfolio?

SPDG and NDIV have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPDG or NDIV?

NDIV has higher volatility (5.26%) compared to SPDG (3.53%). In terms of maximum drawdown, SPDG dropped -15.67% vs NDIV's -19.73%.

Which ETF is better, SPDG or NDIV?

On 1-year performance, NDIV leads with 32.03% vs 25.12% for SPDG. On fees, SPDG is cheaper at 0.05% per year. On volatility, SPDG has been the lower-risk option at 3.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPDG or NDIV?

Over the 1-year period, NDIV has performed better with a 32.03% return vs 25.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPDG or NDIV?

SPDG is cheaper with a 0.05% expense ratio, compared with 0.59% for NDIV.

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

NDIV has the higher dividend yield at 7.79%, compared with 2.71% for SPDG.

What is the main difference between SPDG and NDIV?

SPDG is categorized as Dividend, while NDIV is Energy Equities. SPDG tracks S&P Sector-Neutral High Yield Dividend Aristocrats Index, while NDIV tracks VettaFi Energy and Natural Resources Covered Call Index. They also come from different issuers: State Street and Amplify. Their fees differ too: 0.05% for SPDG and 0.59% for NDIV.

Which has better risk-adjusted returns?

SPDG currently has the higher Sharpe Ratio (2.03 vs 1.66), 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.