HDV
HDV Research
iShares Core High Dividend ETF
Next ex-dividend date: 2026-06-16 (7 days away)
2.45%
Forward yield
$0.674 / yr per share
Yield percentile (5y)
P 4
3.0% (P10)3.4% (med)3.9% (P90)
Expense ratio
0.08%
Yield-weighted ETF · annual cost
Annual / share
$0.674
Quarterly · next ex-date 06-16 (7d)
vs 5y P90 reference
+28%
$27.50 vs $19.77 (5y P90 price)
Refreshed 2026-06-09Data coverage High — 16y history
01Fundamentals
HDV's methodology screens ~75 high-yield stocks with Morningstar moats and financial health checks, delivered at a low 0.08% expense ratio. However, its high 50.5% top 10 concentration and current 2.91% forward yield, which is significantly below the ~4.2% SGOV risk-free rate, make it unattractive for income investors.
Bull caseHDV offers a compelling 10.94% 5-year distribution growth rate and a highly competitive 0.08% expense ratio, while its Morningstar economic moat and Distance-to-Default screens provide a quality filter for its ~75 holdings.
Bear caseThe ETF's 2.91% forward yield is significantly below the ~4.2% SGOV risk-free rate, and its 50.5% top 10 concentration introduces elevated idiosyncratic risk. Additionally, a 15% deviation between the forward yield estimate and TTM actual distributions raises concerns about the reliability of the quoted forward yield.
02Holdings & methodology
| Expense ratio | 0.08% |
| Top 10 concentration | 50.5%10 holdings shown |
| Distribution frequency | quarterly16 consecutive years |
| 5y distribution growth (DGR) | 10.94% / yr |
| Equity position | 99.60%remainder in cash / bonds |
Top 10 holdings
| XOMExxon Mobil Corp | 8.1% |
| CVXChevron Corp | 6.2% |
| ABBVAbbVie Inc | 5.7% |
| JNJJohnson & Johnson | 5.7% |
| PMPhilip Morris International Inc | 4.6% |
| PGProcter & Gamble Co | 4.4% |
| MRKMerck & Co Inc | 4.2% |
| HDThe Home Depot Inc | 4.0% |
| KOCoca-Cola Co | 3.9% |
| TXNTexas Instruments Inc | 3.9% |
Sector weights (top 6 non-zero)
| consumer defensive | 24.2% |
| energy | 21.0% |
| healthcare | 17.0% |
| financial services | 10.8% |
| technology | 9.7% |
| utilities | 8.9% |
Selection methodology
- Growth screen
- ✗no growth requirement
- Quality screen
- Moat-based (narrow or wide Morningstar moat) + Distance-to-Default screen
- Continuity requirement
- None — relies on moat as quality proxy
- Excludes
- non_moat
- Weighting
- Yield-weighted within sector caps
- Rebalanced
- Quarterly
Tracks the Morningstar Dividend Yield Focus Index. Selects ~75 high-yield US stocks with positive Morningstar economic moat rating (narrow or wide) and Distance-to-Default screen for financial health. Yield-weighted within sector caps. No explicit dividend growth screen; relies on moat as quality proxy.Methodology source: BlackRock iShares / Morningstar · refreshed 2026-05
03Price reference
$10,000at current price →$245/ yr in dividends
Math: 2.45% forward yield. Historical 5y DGR is 10.9%/yr — past growth does not guarantee future results.
Below are statistical price references from the last 5 years of trading, anchored to historical drawdown events. They describe where the price has been — not where it should be.
$18.24
$19.77
$27.50
5y P10
5y P90
Now
| Current price | $27.50 |
| 5y P90 reference (high-yield 10% tail) | $19.77 — 28.1% lower |
| 5y P10 reference (low-yield 10% tail) | $18.24 — 33.7% lower |
| 5y max observed yield (at P10 price) | 4.3% |
| Annual dividend (frozen forward) | $0.674 / share · 2.45% yield |
Historical anchor · 2020-03 COVID Sell-off
Low $9.82 · drawdown 1251 days · yield reached 5.7%
COVID pandemic triggered global liquidity panic, market plunged 34% in 3 weeks
Important — this is reference data, not investment advice.
Quality scores, percentiles, and price references are statistical summaries of historical data computed by our research methodology from public market data, refreshed daily. They do not constitute a buy / sell / hold recommendation, do not account for your personal financial situation, tax bracket, or goals, and past performance does not predict future results. Consult a registered investment advisor before making investment decisions. divcalc.io is not a registered investment advisor.
Quality scores, percentiles, and price references are statistical summaries of historical data computed by our research methodology from public market data, refreshed daily. They do not constitute a buy / sell / hold recommendation, do not account for your personal financial situation, tax bracket, or goals, and past performance does not predict future results. Consult a registered investment advisor before making investment decisions. divcalc.io is not a registered investment advisor.