TDV vs. IGV

Last updated Jul 17, 2026

TDV (ProShares S&P Technology Dividend Aristocrats ETF) and IGV (iShares Expanded Tech-Software Sector ETF) are both Technology Equities funds - TDV tracks the Zacks 2040 Lifecycle Index while IGV tracks the S&P North American Expanded Technology Software Index. Both are passively managed. Over the past 5 years, TDV returned 12.20%/yr vs 3.81%/yr for IGV. A 0.71 correlation means they provide meaningful diversification when combined. TDV charges 0.66%/yr vs 0.39%/yr for IGV.

Performance

TDV vs. IGV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares S&P Technology Dividend Aristocrats ETF (TDV) and iShares Expanded Tech-Software Sector ETF (IGV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TDV achieves a 13.91% return, which is significantly higher than IGV's -11.33% return.

TDV

• 1D: -0.28%
• 1M: -4.81%
• 6M: 9.46%
• YTD: 13.91%
• 1Y: 18.54%
• 3Y*: 14.75%
• 5Y*: 12.20%
• 10Y*: —

IGV

• 1D: -0.26%
• 1M: 2.55%
• 6M: -6.08%
• YTD: -11.33%
• 1Y: -14.65%
• 3Y*: 8.87%
• 5Y*: 3.81%
• 10Y*: 15.79%

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

TDV vs. IGV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
TDV ProShares S&P Technology Dividend Aristocrats ETF	13.91%	16.05%	9.72%	27.29%	-15.94%	28.29%	29.00%	2.86%
IGV iShares Expanded Tech-Software Sector ETF	-11.33%	5.56%	23.41%	58.56%	-35.65%	12.30%	52.86%	7.06%

Correlation

The correlation between TDV and IGV is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (All Time) Calculated using the full available price history since Nov 7, 2019	0.71

Over the past year, the correlation between TDV and IGV has dropped to 0.47 - well below their long-term average of 0.71, suggesting their price drivers have been diverging.

TDV vs. IGV - Sectors Allocation Comparison

Sectors	TDV	IGV
Technology	90.7%	89.1%
Financial Services	4.9%	1.9%
Industrials	4.4%	0.1%
Basic Materials	-	-
Communication Services	-	8.6%
Consumer Cyclical	-	0.3%
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

TDV vs. IGV — Risk / Return Rank

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

TDV

TDV Risk / Return Rank: 37
TDV Sharpe Ratio Rank: 32
TDV Sortino Ratio Rank: 31
TDV Omega Ratio Rank: 31
TDV Calmar Ratio Rank: 47
TDV Martin Ratio Rank: 44

IGV

IGV Risk / Return Rank: 5
IGV Sharpe Ratio Rank: 5
IGV Sortino Ratio Rank: 5
IGV Omega Ratio Rank: 5
IGV Calmar Ratio Rank: 6
IGV Martin Ratio Rank: 6

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.

TDV vs. IGV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares S&P Technology Dividend Aristocrats ETF (TDV) and iShares Expanded Tech-Software Sector ETF (IGV). 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.

	TDV	IGV	Difference
Sharpe ratio: Return per unit of total volatility	0.97	-0.51	+1.48
Sortino ratio: Return per unit of downside risk	1.40	-0.56	+1.96
Omega ratio: Gain probability vs. loss probability	1.18	0.93	+0.24
Calmar ratio: Return relative to maximum drawdown	1.95	-0.40	+2.35
Martin ratio: Return relative to average drawdown	5.80	-0.78	+6.58

TDV vs. IGV - Sharpe Ratio Comparison

The current TDV Sharpe Ratio is 0.97, which is higher than the IGV Sharpe Ratio of -0.51. The chart below compares the historical Sharpe Ratios of TDV and IGV, 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

TDV vs. IGV - Drawdown Comparison

The maximum TDV drawdown since its inception was -32.78%, smaller than the maximum IGV drawdown of -63.45%. Use the drawdown chart below to compare losses from any high point for TDV and IGV.

Drawdown Indicators

	TDV	IGV	Difference
Max Drawdown Largest peak-to-trough decline	-32.78%	-63.45%	+30.67%
Max Drawdown (1Y) Largest decline over 1 year	-9.55%	-36.61%	+27.06%
Max Drawdown (3Y) Largest decline over 3 years	-22.51%	-36.61%	+14.10%
Max Drawdown (5Y) Largest decline over 5 years	-25.11%	-45.85%	+20.74%
Max Drawdown (10Y) Largest decline over 10 years	—	-45.85%	—
Current Drawdown Current decline from peak	-7.85%	-20.44%	+12.59%
Average Drawdown Average peak-to-trough decline	-5.35%	-14.48%	+9.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.21%	18.79%	-15.58%

Volatility

TDV vs. IGV - Volatility Comparison

ProShares S&P Technology Dividend Aristocrats ETF (TDV) and iShares Expanded Tech-Software Sector ETF (IGV) have volatilities of 7.48% and 7.72%, 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

	TDV	IGV	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.48%	7.72%	-0.24%
Volatility (6M) Calculated over the trailing 6-month period	15.39%	25.28%	-9.89%
Volatility (1Y) Calculated over the trailing 1-year period	19.19%	28.66%	-9.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.84%	28.09%	-7.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.31%	26.40%	-3.09%

TDV vs. IGV - Expense Ratio Comparison

TDV has a 0.66% expense ratio, which is higher than IGV's 0.39% expense ratio.

Dividends

TDV vs. IGV - Dividend Comparison

TDV's dividend yield for the trailing twelve months is around 1.07%, more than IGV's 0.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IGV iShares Expanded Tech-Software Sector ETF	0.02%	0.00%	0.00%	0.01%	0.01%	0.00%	0.35%	0.02%	0.16%	0.09%	0.82%	0.22%
TDV ProShares S&P Technology Dividend Aristocrats ETF	1.07%	1.09%	1.16%	1.16%	1.67%	1.08%	1.10%	0.11%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TDV and IGV in my portfolio?

TDV and IGV have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TDV or IGV?

IGV has higher volatility (7.72%) compared to TDV (7.48%). In terms of maximum drawdown, TDV dropped -32.78% vs IGV's -63.45%.

Which ETF is better, TDV or IGV?

On 5-year performance, TDV leads with 12.20% vs 3.81% for IGV. On fees, IGV is cheaper at 0.39% per year. On volatility, TDV has been the lower-risk option at 7.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TDV or IGV?

Over the 5-year period, TDV has performed better with a 12.20% return vs 3.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TDV or IGV?

IGV is cheaper with a 0.39% expense ratio, compared with 0.66% for TDV.

Which ETF pays a higher dividend yield, TDV or IGV?

TDV has the higher dividend yield at 1.07%, compared with 0.02% for IGV.

What is the main difference between TDV and IGV?

TDV tracks Zacks 2040 Lifecycle Index, while IGV tracks S&P North American Expanded Technology Software Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.66% for TDV and 0.39% for IGV.

Which has better risk-adjusted returns?

TDV currently has the higher Sharpe Ratio (0.97 vs -0.51), 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.