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XLU vs. HDV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XLU vs. HDV

Last updated Jun 14, 2026

XLU (State Street Utilities Select Sector SPDR ETF) and HDV (iShares Core High Dividend ETF) are both exchange-traded funds - XLU is a Utilities Equities fund tracking the Utilities Select Sector Index, while HDV is a Dividend fund tracking the Morningstar Dividend Yield Focus Index. Both are passively managed. Over the past 10 years, XLU returned 9.20%/yr vs 9.47%/yr for HDV. A 0.58 correlation means they provide meaningful diversification when combined. Both charge a 0.08% expense ratio.

Performance

XLU vs. HDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Utilities Select Sector SPDR ETF (XLU) and iShares Core High Dividend ETF (HDV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XLU achieves a 5.04% return, which is significantly lower than HDV's 15.30% return. Both investments have delivered pretty close results over the past 10 years, with XLU having a 9.20% annualized return and HDV not far ahead at 9.47%.

XLU

1D
1.09%
1M
-0.82%
YTD
5.04%
6M
5.48%
1Y
12.50%
3Y*
13.79%
5Y*
9.41%
10Y*
9.20%

HDV

1D
0.87%
1M
2.05%
YTD
15.30%
6M
15.20%
1Y
21.86%
3Y*
15.16%
5Y*
10.91%
10Y*
9.47%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XLU vs. HDV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XLU
State Street Utilities Select Sector SPDR ETF		5.04%16.03%23.31%-7.18%1.44%17.70%0.51%25.93%3.94%12.05%
HDV
iShares Core High Dividend ETF		15.30%11.90%14.16%1.72%7.05%19.45%-6.48%20.22%-3.01%13.40%

Correlation

The correlation between XLU and HDV is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.44

Correlation (3Y)
Calculated over the trailing 3-year period

0.58

Correlation (5Y)
Calculated over the trailing 5-year period

0.59

Correlation (10Y)
Calculated over the trailing 10-year period

0.54

Correlation (All Time)
Calculated using the full available price history since Mar 31, 2011

0.58

The correlation between XLU and HDV shifts across timeframes, from 0.44 (1 year) to 0.59 (5 years), reflecting how their relationship changes across market environments.

XLU vs. HDV - Sectors Allocation Comparison

Sectors
XLU
HDV

Utilities

100.0%
8.9%

Basic Materials

-

1.1%

Communication Services

-

0.1%

Consumer Cyclical

-

6.0%

Consumer Defensive

-

24.2%

Energy

-

21.0%

Financial Services

-

10.8%

Healthcare

-

17.0%

Industrials

-

1.3%

Real Estate

-

-

Technology

-

9.7%

Utilities

XLU
100.0%
HDV
8.9%

Basic Materials

XLU

-

HDV
1.1%

Communication Services

XLU

-

HDV
0.1%

Consumer Cyclical

XLU

-

HDV
6.0%

Consumer Defensive

XLU

-

HDV
24.2%

Energy

XLU

-

HDV
21.0%

Financial Services

XLU

-

HDV
10.8%

Healthcare

XLU

-

HDV
17.0%

Industrials

XLU

-

HDV
1.3%

Real Estate

XLU

-

HDV

-

Technology

XLU

-

HDV
9.7%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

State Street Utilities Select Sector SPDR ETF

iShares Core High Dividend ETF

Often compared with XLU:
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Often compared with HDV:
HDV vs. SCHDHDV vs. VYMHDV vs. SPYDHDV vs. DGROHDV vs. DVYHDV vs. VIGHDV vs. SPY

Return for Risk

XLU vs. HDV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XLU
XLU Risk / Return Rank: 2626
Overall Rank
XLU Sharpe Ratio Rank: 2626
Sharpe Ratio Rank
XLU Sortino Ratio Rank: 2424
Sortino Ratio Rank
XLU Omega Ratio Rank: 2424
Omega Ratio Rank
XLU Calmar Ratio Rank: 3030
Calmar Ratio Rank
XLU Martin Ratio Rank: 2424
Martin Ratio Rank
HDV
HDV Risk / Return Rank: 8080
Overall Rank
HDV Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
HDV Sortino Ratio Rank: 8585
Sortino Ratio Rank
HDV Omega Ratio Rank: 7676
Omega Ratio Rank
HDV Calmar Ratio Rank: 8686
Calmar Ratio Rank
HDV Martin Ratio Rank: 7272
Martin Ratio Rank
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.

XLU vs. HDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Utilities Select Sector SPDR ETF (XLU) and iShares Core High Dividend ETF (HDV). 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.

XLUHDVDifference
Sharpe ratioReturn per unit of total volatility
0.81
2.23

-1.41

Sortino ratioReturn per unit of downside risk
1.18
3.29

-2.11

Omega ratioGain probability vs. loss probability

1.15

1.38

-0.24

Calmar ratioReturn relative to maximum drawdown

1.30

4.18

-2.88

Martin ratioReturn relative to average drawdown

2.80

11.59

-8.79

XLU vs. HDV - Sharpe Ratio Comparison

The current XLU Sharpe Ratio is 0.81, which is lower than the HDV Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of XLU and HDV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

XLU vs. HDV - Drawdown Comparison

The maximum XLU drawdown since its inception was -51.98%, which is greater than HDV's maximum drawdown of -37.04%. Use the drawdown chart below to compare losses from any high point for XLU and HDV.

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Drawdown Indicators

XLUHDVDifference

Max Drawdown

Largest peak-to-trough decline

-51.98%

-37.04%

-14.94%

Max Drawdown (1Y)

Largest decline over 1 year

-9.18%

-5.18%

-4.00%

Max Drawdown (3Y)

Largest decline over 3 years

-17.26%

-10.49%

-6.77%

Max Drawdown (5Y)

Largest decline over 5 years

-25.26%

-15.42%

-9.84%

Max Drawdown (10Y)

Largest decline over 10 years

-36.07%

-37.04%

+0.97%

Current Drawdown

Current decline from peak

-6.05%

-0.29%

-5.76%

Average Drawdown

Average peak-to-trough decline

-10.22%

-3.08%

-7.14%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.25%

1.87%

+2.38%

Volatility

XLU vs. HDV - Volatility Comparison

State Street Utilities Select Sector SPDR ETF (XLU) has a higher volatility of 5.59% compared to iShares Core High Dividend ETF (HDV) at 3.10%. This indicates that XLU's price experiences larger fluctuations and is considered to be riskier than HDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XLUHDVDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.59%

3.10%

+2.49%

Volatility (6M)

Calculated over the trailing 6-month period

11.68%

7.44%

+4.24%

Volatility (1Y)

Calculated over the trailing 1-year period

14.66%

9.73%

+4.93%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.34%

12.83%

+4.51%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.27%

15.73%

+3.54%

XLU vs. HDV - Expense Ratio Comparison

Both XLU and HDV have an expense ratio of 0.08%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

XLU vs. HDV - Dividend Comparison

XLU's dividend yield for the trailing twelve months is around 2.67%, less than HDV's 2.84% yield.

PositionTTM20252024202320222021202020192018201720162015
HDV
iShares Core High Dividend ETF		2.84%3.22%3.67%3.82%3.56%3.47%4.07%3.27%3.67%3.27%3.28%3.92%
XLU
State Street Utilities Select Sector SPDR ETF		2.67%2.71%2.96%3.39%2.92%2.79%3.14%2.95%3.33%3.33%3.41%3.67%

Frequently Asked Questions

XLU and HDV have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

XLU has higher volatility (5.59%) compared to HDV (3.10%). In terms of maximum drawdown, XLU dropped -51.98% vs HDV's -37.04%.

On 10-year performance, HDV leads with 9.47% vs 9.20% for XLU. Both ETFs have the same 0.08% expense ratio. On volatility, HDV has been the lower-risk option at 3.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, HDV has performed better with a 9.47% return vs 9.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

XLU and HDV have the same expense ratio: 0.08% per year.

HDV has the higher dividend yield at 2.84%, compared with 2.67% for XLU.

XLU is categorized as Utilities Equities, while HDV is Dividend. XLU tracks Utilities Select Sector Index, while HDV tracks Morningstar Dividend Yield Focus Index. They also come from different issuers: State Street and iShares.

HDV currently has the higher Sharpe Ratio (2.23 vs 0.81), 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.

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