HDV: iShares Core High Dividend ETF returns, drawdowns and risk
Funds that select companies by dividend yield or by a record of growing dividends.
Data updated October 2026
HDV · US exchange · USDCategory: Dividend ETFsData from March 2011
From March 2011 to October 2026 HDV returned 8.0% a year on average with dividends reinvested, in US dollars: $10,000 invested at the start grew to $32,949.
Its deepest fall was 37.0%, from December 2019 to March 2020, and it took about 16 months to get back to the previous high. Annual volatility was 14.7%; at the last close it was 0.7% below its high.
Against SPY (SPDR S&P 500 ETF Trust), over the 187 months both have data, the correlation of monthly returns was 0.74: they usually moved together. Beta was 0.69. In months when SPY rose, HDV moved 69% as much on average; in months when SPY fell, 77% as much.
Key figures
- Annual return (CAGR)
- +8.0%
- 1-year return
- +23.5%
- 5 years, a year
- +9.8%
- 10 years, a year
- +7.3%
- Annual volatility
- 14.7%
- Maximum drawdown
- −37.0%
- Sharpe ratio
- 0.50
- Worst year
- 2020: −9.8%
Trailing returns
| Period | HDV | SPY |
|---|---|---|
| 1 year | +23.5% | +16.6% |
| 3 years, a year | +16.2% | +23.1% |
| 5 years, a year | +9.8% | +12.7% |
| 10 years, a year | +7.3% | +15.4% |
To the last close of October 2026. Periods longer than a year are annualised.
Growth of $10,000: HDV vs SPY
Month-end values from April 2011, the first month both funds have data.
HDV drawdowns
Percentage below the previous high, weekly.
Returns by calendar year
| Year | HDV | SPY |
|---|---|---|
| 2026(partial) | +23.8% | +13.3% |
| 2025 | +9.0% | +17.7% |
| 2024 | +10.9% | +24.9% |
| 2023 | −1.4% | +26.2% |
| 2022 | +4.0% | −18.2% |
| 2021 | +16.0% | +28.7% |
| 2020 | −9.8% | +18.3% |
| 2019 | +17.0% | +31.2% |
| 2018 | −5.7% | −4.6% |
| 2017 | +10.3% | +21.7% |
| 2016 | +12.8% | +12.0% |
| 2015 | −3.3% | +1.2% |
| 2014 | +9.7% | +13.5% |
| 2013 | +20.3% | +32.3% |
| 2012 | +6.6% | +16.0% |
| 2011(partial) | +9.9% | — |
How the figures are calculated
Total return in the fund’s trading currency, from end-of-day prices with dividends reinvested on the ex-date. The fund’s own ongoing charges are already reflected in its price; trading costs, taxes and currency conversion are not included. Past returns do not predict future returns.
Sharpe ratio uses the return of short-term government bills in the same currency as the risk-free rate. The growth chart uses month-end values; drawdowns and volatility use daily closes.
Questions
What is the average annual return of HDV?
From March 2011 to October 2026 HDV returned 8.0% a year on average (CAGR) with dividends reinvested, in USD. Over the last 5 years: +9.8% a year. Over the last 12 months: +23.5%.
What was the worst drawdown of HDV?
37.0%, from December 2019 to March 2020; it took about 16 months from the previous high to get back to it.
How volatile is HDV?
Annual volatility was 14.7% over the period. Its worst month was −15.3% and 60% of months were positive. Worst calendar year: 2020 (−9.8%).
How closely does HDV follow SPY?
Over 187 months the correlation of monthly returns was 0.74, so they usually moved together, with a beta of 0.69.
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Other Dividend ETFs
- All Dividend ETFsReturns and risk side by side
- VYM — Vanguard High Dividend Yield ETFCAGR +14.6%
- VIG — Vanguard Dividend Appreciation ETFCAGR +13.8%
- DGRO — iShares Core Dividend Growth ETFCAGR +12.4%
- VHYL — Vanguard FTSE All-World High Dividend Yield UCITS ETF (Dist)CAGR +7.8%
- NOBL — ProShares S&P 500 Dividend Aristocrats ETFCAGR +9.3%
- DVY — iShares Select Dividend ETFCAGR +8.1%
- SPYD — SPDR Portfolio S&P 500 High Dividend ETFCAGR +13.1%
- SDY — SPDR S&P Dividend ETFCAGR +8.6%
- TDIV — VanEck Morningstar Developed Markets Dividend Leaders UCITS ETFCAGR +9.6%
Source: MarketStack end-of-day prices, total return with dividends reinvested. Figures are historical and descriptive; they are not forecasts and not investment advice. MEDGE Capital does not recommend buying or selling any instrument. Risk disclaimer.