DVND vs SPY
Touchstone Dividend Select ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, DVND or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. DVND is less concentrated, with 28.8% of the fund in its ten largest positions against 38.2%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | DVND | SPY |
|---|---|---|
| Expense Ratio | 0.50% | 0.09%Best |
| AUM | $54M | $823.2B |
| Dividend Yield | 1.81% | 0.99% |
| Holdings | 112 | 1,515 |
| YTD Return | +11.56% | +13.53%Best |
| 1Y Return | +14.57% | +17.47%Best |
| 3Y Return (annualized) | +17.34% | +22.36%Best |
| 5Y Return (annualized) | - | +13.21% |
| Volatility (annualized) | 13.2%Best | 14.0% |
| Max Drawdown | -14.8%Best | -18.8% |
| $10,000 over 4.2 years | $16,802 | $19,672Best |
| Top 10 Weight | 28.8%Best | 38.2% |
| Fund Family | Touchstone Investments | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Aug 2, 2022 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 4.2 years row, are measured over the window both funds cover: Aug 4, 2022 to Oct 14, 2026 (4.2 years).
DVND vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 4.2 years both funds cover.
DVND vs SPY Performance
Touchstone Dividend Select ETF (DVND) is an ETF from Touchstone Investments and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year DVND returned +14.57% while SPY returned +17.47%. Year to date, DVND is up 11.56% versus a gain of 13.53% for SPY.
Over three years, DVND compounded at +17.34% per year against +22.36% for SPY. Across the full 4-year window we track, SPY has the edge at +17.48% annualized vs +13.15%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 14.0% compared with 13.2% for DVND. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -14.8% for DVND and -18.8% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.88. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
DVND charges 0.50% per year while SPY charges 0.09%. On a $10,000 position that is $50 vs $9 annually, a gap of $41 per year that compounds over a long holding period. On income, DVND currently yields 1.81% against 0.99% for SPY.
Holdings Overlap
94.9% of DVND's money is in holdings SPY also owns. 40.8% of SPY's money is in holdings DVND also owns.
Most of DVND is already inside SPY. Owning both mostly buys the same companies twice.
54 positions in common, counted across the 56 positions we hold weights for in DVND and 504 in SPY, against full books of 112 and 1,515.
What only one of them owns
Our book lists 442 positions for SPY that do not appear in our book for DVND (58.3% of the fund), and 2 for DVND that do not appear in SPY (5.1%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in DVND | Weight in SPY | Difference |
|---|---|---|---|
| MSFTMicrosoft Corp | 5.29% | 5.71% | 0.42% |
| AAPLApple, Inc | 3.10% | 7.45% | 4.35% |
| AVGOBroadcom Inc | 3.14% | 2.48% | 0.66% |
| AMZNAmazon.Com Inc | 1.74% | 3.78% | 2.04% |
| GOOGAlphabet Inc. C | 2.49% | 2.49% | 0.00% |
| METAMeta Platforms Inc | 2.56% | 2.22% | 0.34% |
| XOMExxonmobil Corp. | 2.46% | 1.04% | 1.42% |
| VVisa Inc Class A | 2.22% | 0.95% | 1.27% |
| JPMJpmorgan Chase | 1.74% | 1.43% | 0.31% |
| JNJJohnson & Johnson - Common | 1.98% | 0.98% | 1.00% |
94.9% of DVND is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, DVND or SPY?
DVND has an expense ratio of 0.50% while SPY charges 0.09%. SPY is the cheaper option, by $41 a year on a $10,000 investment.
Which performed better, DVND or SPY?
Over the past year DVND returned +14.57% vs +17.47% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (4 years), DVND annualized +13.15% vs +17.48% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DVND or SPY?
SPY has been the more volatile fund at 14.0% annualized versus 13.2% for DVND. Worst drawdown: DVND -14.8% vs SPY -18.8%.
Should I hold both DVND and SPY?
DVND and SPY have a monthly-return correlation of 0.88, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between DVND and SPY?
94.9% of DVND's money is in holdings SPY also owns. 40.8% of SPY's is in holdings DVND also owns. They hold 54 positions in common, counted across the 56 positions we hold weights for in DVND and 504 in SPY.
Which pays a higher dividend, DVND or SPY?
DVND yields 1.81% while SPY yields 0.99%, so DVND currently pays the higher dividend yield.
Is SPY better than DVND?
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. DVND is less concentrated, with 28.8% of the fund in its ten largest positions against 38.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.