SPYD vs. SDOG

Last updated Jun 14, 2026

SPYD (State Street SPDR Portfolio S&P 500 High Dividend ETF) and SDOG (ALPS Sector Dividend Dogs ETF) are both exchange-traded funds - SPYD is a S&P 500 fund tracking the S&P 500 High Dividend 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, SPYD returned 9.09%/yr vs 9.99%/yr for SDOG. Their correlation of 0.93 suggests significant overlap in exposure. SPYD charges 0.07%/yr vs 0.36%/yr for SDOG.

Performance

SPYD vs. SDOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR Portfolio S&P 500 High Dividend ETF (SPYD) 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, SPYD achieves a 14.73% return, which is significantly lower than SDOG's 17.13% return. Over the past 10 years, SPYD has underperformed SDOG with an annualized return of 9.09%, while SDOG has yielded a comparatively higher 9.99% annualized return.

SPYD

• 1D: 1.05%
• 1M: 5.32%
• YTD: 14.73%
• 6M: 14.21%
• 1Y: 20.93%
• 3Y*: 14.69%
• 5Y*: 7.64%
• 10Y*: 9.09%

SDOG

• 1D: 1.26%
• 1M: 5.43%
• YTD: 17.13%
• 6M: 16.28%
• 1Y: 27.16%
• 3Y*: 16.38%
• 5Y*: 9.08%
• 10Y*: 9.99%

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

SPYD vs. SDOG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPYD State Street SPDR Portfolio S&P 500 High Dividend ETF	14.73%	4.65%	15.34%	3.91%	-1.17%	32.73%	-11.64%	21.20%	-4.89%	12.67%
SDOG ALPS Sector Dividend Dogs ETF	17.13%	11.12%	14.70%	4.19%	-0.20%	24.59%	-0.35%	24.02%	-11.43%	12.65%

Correlation

The correlation between SPYD and SDOG is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Oct 22, 2015	0.93

The correlation between SPYD and SDOG has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.

SPYD vs. SDOG - Sectors Allocation Comparison

Sectors	SPYD	SDOG
Real Estate	26.5%	-
Consumer Defensive	16.0%	9.5%
Financial Services	11.9%	10.6%
Utilities	11.2%	9.2%
Energy	8.5%	9.1%
Consumer Cyclical	7.3%	16.3%
Healthcare	5.3%	9.8%
Communication Services	4.8%	8.4%
Technology	3.2%	16.2%
Basic Materials	3.0%	3.5%
Industrials	2.3%	7.5%

Return for Risk

SPYD vs. SDOG — Risk / Return Rank

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

SPYD

SPYD Risk / Return Rank: 58
SPYD Sharpe Ratio Rank: 57
SPYD Sortino Ratio Rank: 63
SPYD Omega Ratio Rank: 52
SPYD Calmar Ratio Rank: 64
SPYD Martin Ratio Rank: 54

SDOG

SDOG Risk / Return Rank: 83
SDOG Sharpe Ratio Rank: 83
SDOG Sortino Ratio Rank: 87
SDOG Omega Ratio Rank: 78
SDOG Calmar Ratio Rank: 86
SDOG Martin Ratio Rank: 80

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.

SPYD vs. SDOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Portfolio S&P 500 High Dividend ETF (SPYD) 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.

	SPYD	SDOG	Difference
Sharpe ratio: Return per unit of total volatility	1.69	2.30	-0.61
Sortino ratio: Return per unit of downside risk	2.53	3.45	-0.92
Omega ratio: Gain probability vs. loss probability	1.29	1.40	-0.11
Calmar ratio: Return relative to maximum drawdown	2.80	4.25	-1.45
Martin ratio: Return relative to average drawdown	8.14	13.63	-5.48

SPYD vs. SDOG - Sharpe Ratio Comparison

The current SPYD Sharpe Ratio is 1.69, which is comparable to the SDOG Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of SPYD 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

SPYD vs. SDOG - Drawdown Comparison

The maximum SPYD drawdown since its inception was -46.42%, which is greater than SDOG's maximum drawdown of -43.56%. Use the drawdown chart below to compare losses from any high point for SPYD and SDOG.

Drawdown Indicators

	SPYD	SDOG	Difference
Max Drawdown Largest peak-to-trough decline	-46.42%	-43.56%	-2.86%
Max Drawdown (1Y) Largest decline over 1 year	-7.05%	-6.24%	-0.81%
Max Drawdown (3Y) Largest decline over 3 years	-16.13%	-16.00%	-0.13%
Max Drawdown (5Y) Largest decline over 5 years	-22.25%	-19.84%	-2.41%
Max Drawdown (10Y) Largest decline over 10 years	-46.42%	-43.56%	-2.86%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-6.15%	-4.91%	-1.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.42%	1.94%	+0.48%

Volatility

SPYD vs. SDOG - Volatility Comparison

The current volatility for State Street SPDR Portfolio S&P 500 High Dividend ETF (SPYD) is 2.92%, while ALPS Sector Dividend Dogs ETF (SDOG) has a volatility of 3.34%. This indicates that SPYD experiences smaller price fluctuations and is considered to be less risky than SDOG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYD	SDOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.92%	3.34%	-0.42%
Volatility (6M) Calculated over the trailing 6-month period	7.74%	8.02%	-0.28%
Volatility (1Y) Calculated over the trailing 1-year period	11.70%	11.52%	+0.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.15%	15.44%	+0.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.78%	19.06%	+0.72%

SPYD vs. SDOG - Expense Ratio Comparison

SPYD has a 0.07% expense ratio, which is lower than SDOG's 0.36% expense ratio.

Dividends

SPYD vs. SDOG - Dividend Comparison

SPYD's dividend yield for the trailing twelve months is around 4.05%, more than SDOG's 3.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SDOG ALPS Sector Dividend Dogs ETF	3.26%	3.68%	3.86%	4.29%	3.87%	3.62%	3.63%	3.37%	4.03%	3.27%	3.32%	3.61%
SPYD State Street SPDR Portfolio S&P 500 High Dividend ETF	4.05%	4.52%	4.31%	4.66%	5.01%	3.68%	4.95%	4.42%	4.75%	4.63%	4.34%	1.13%

Frequently Asked Questions

Can I hold both SPYD and SDOG in my portfolio?

With a correlation of 0.91, SPYD and SDOG 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, SPYD or SDOG?

SDOG has higher volatility (3.34%) compared to SPYD (2.92%). In terms of maximum drawdown, SPYD dropped -46.42% vs SDOG's -43.56%.

Which ETF is better, SPYD or SDOG?

On 10-year performance, SDOG leads with 9.99% vs 9.09% for SPYD. On fees, SPYD is cheaper at 0.07% per year. On volatility, SPYD has been the lower-risk option at 2.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPYD or SDOG?

Over the 10-year period, SDOG has performed better with a 9.99% return vs 9.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPYD or SDOG?

SPYD is cheaper with a 0.07% expense ratio, compared with 0.36% for SDOG.

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

SPYD has the higher dividend yield at 4.05%, compared with 3.26% for SDOG.

What is the main difference between SPYD and SDOG?

SPYD is categorized as S&P 500, while SDOG is Large Cap Value Equities. SPYD tracks S&P 500 High Dividend 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: 0.07% for SPYD and 0.36% for SDOG.

Which has better risk-adjusted returns?

SDOG currently has the higher Sharpe Ratio (2.30 vs 1.69), 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.