SPDV vs. DMDV

Last updated Jun 4, 2026

SPDV (AAM S&P 500 High Dividend Value ETF) and DMDV (AAM S&P Developed Markets High Dividend Value ETF) are both exchange-traded funds - SPDV is a Dividend fund tracking the S&P 500 Dividend and Free Cash Flow Yield Index, while DMDV is a Foreign Large Cap Equities fund tracking the S&P Developed Ex-U.S. Dividend and Free Cash Flow Yield. Both are passively managed. A 0.62 correlation means they provide meaningful diversification when combined. SPDV charges 0.29%/yr vs 0.39%/yr for DMDV.

Performance

SPDV vs. DMDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AAM S&P 500 High Dividend Value ETF (SPDV) and AAM S&P Developed Markets High Dividend Value ETF (DMDV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SPDV

• 1D: -0.38%
• 1M: 3.73%
• YTD: 14.19%
• 6M: 14.91%
• 1Y: 27.39%
• 3Y*: 16.86%
• 5Y*: 8.17%
• 10Y*: —

DMDV

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPDV vs. DMDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SPDV AAM S&P 500 High Dividend Value ETF	14.19%	10.90%	14.40%	5.45%	-2.27%	29.54%	-6.09%	20.46%	-9.53%
DMDV AAM S&P Developed Markets High Dividend Value ETF	0.00%	0.00%	7.82%	18.63%	-7.53%	10.16%	-20.45%	30.25%	-8.11%

Correlation

The correlation between SPDV and DMDV is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (All Time) Calculated using the full available price history since Nov 29, 2018	0.62

The correlation between SPDV and DMDV shifts across timeframes, from 0.42 (3 years) to 0.62 (all time), reflecting how their relationship changes across market environments.

SPDV vs. DMDV - Sectors Allocation Comparison

Sectors	SPDV	DMDV
Consumer Cyclical	13.5%	8.7%
Energy	12.3%	6.6%
Technology	11.1%	7.6%
Healthcare	9.7%	8.9%
Financial Services	9.2%	9.0%
Consumer Defensive	9.1%	9.4%
Real Estate	8.7%	10.0%
Industrials	7.8%	12.5%
Communication Services	7.8%	9.1%
Utilities	5.8%	9.2%
Basic Materials	5.1%	9.0%

Return for Risk

SPDV vs. DMDV — Risk / Return Rank

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

SPDV

SPDV Risk / Return Rank: 73
SPDV Sharpe Ratio Rank: 68
SPDV Sortino Ratio Rank: 73
SPDV Omega Ratio Rank: 65
SPDV Calmar Ratio Rank: 85
SPDV Martin Ratio Rank: 72

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.

SPDV vs. DMDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AAM S&P 500 High Dividend Value ETF (SPDV) and AAM S&P Developed Markets High Dividend Value ETF (DMDV). 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.

	SPDV	DMDV	Difference
Sharpe ratio: Return per unit of total volatility	2.26	—	—
Sortino ratio: Return per unit of downside risk	3.35	—	—
Omega ratio: Gain probability vs. loss probability	1.40	—	—
Calmar ratio: Return relative to maximum drawdown	4.74	—	—
Martin ratio: Return relative to average drawdown	13.66	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SPDV	DMDV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.26	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	—	—

Drawdowns

Drawdown Indicators

	SPDV	DMDV	Difference
Max Drawdown Largest peak-to-trough decline	-43.81%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-5.80%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-18.62%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.31%	—	—
Current Drawdown Current decline from peak	-0.62%	—	—
Average Drawdown Average peak-to-trough decline	-6.57%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	—	—

Volatility

Volatility by Period

	SPDV	DMDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.76%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.16%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.18%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.30%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.31%	—	—

SPDV vs. DMDV - Expense Ratio Comparison

SPDV has a 0.29% expense ratio, which is lower than DMDV's 0.39% expense ratio.

Dividends

SPDV vs. DMDV - Dividend Comparison

SPDV's dividend yield for the trailing twelve months is around 3.31%, while DMDV has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DMDV AAM S&P Developed Markets High Dividend Value ETF	0.00%	0.00%	3.51%	6.98%	5.60%	4.45%	3.13%	5.36%	0.27%	0.00%
SPDV AAM S&P 500 High Dividend Value ETF	3.31%	3.85%	3.54%	3.95%	3.73%	3.08%	3.90%	3.54%	3.63%	0.28%

Frequently Asked Questions

Can I hold both SPDV and DMDV in my portfolio?

SPDV and DMDV have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPDV or DMDV?

On fees, SPDV is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPDV or DMDV?

SPDV is cheaper with a 0.29% expense ratio, compared with 0.39% for DMDV.

Which ETF pays a higher dividend yield, SPDV or DMDV?

SPDV has the higher dividend yield at 3.31%, compared with 0.00% for DMDV.

What is the main difference between SPDV and DMDV?

SPDV is categorized as Dividend, while DMDV is Foreign Large Cap Equities. SPDV tracks S&P 500 Dividend and Free Cash Flow Yield Index, while DMDV tracks S&P Developed Ex-U.S. Dividend and Free Cash Flow Yield. Their fees differ too: 0.29% for SPDV and 0.39% for DMDV.