Dividend ETFs in 2026: Yield and Fees for Seven Funds

This page compares seven US dividend ETFs, each figure with the as-of date its issuer prints beside it. The 30-day SEC yield runs from 2.28% (ProShares NOBL, as of Sep 30, 2026) to 4.47% (Invesco SPHD, as of Oct 22, 2026), and the expense ratio runs from 0.04% (Vanguard VYM) to 0.43% (First Trust FDL). The list does not cover the whole market: iShares Core High Dividend ETF (HDV) is not included.

Financeradar data: the online brokers page compares 7 brokers on trading fees, account minimums, cash rates and IRA options, as of October 25, 2026. Trading costs, where a broker charges them, come on top of the expense ratio each fund prints.

Costs and yields at a glance

Each yield carries the label the issuer uses and that issuer's as-of date.

Three funds print SEC yields of 4.25% or more: SPHD, SPYD and FDL. The other four print SEC yields below 3.5%. The seven funds also differ in holdings, index and inception date, which the second table sets out.

The seven funds

1. Schwab U.S. Dividend Equity ETF (SCHD). It fits a long-term holder who wants a low fee and an index that Schwab describes, as printed on its SCHD page on Oct 25, 2026, as focused on "the quality and sustainability of dividends". Its 3.12% SEC yield is below SPYD, SPHD and FDL in this table, and its 102 holdings are fewer than the 593 in VYM.

2. Vanguard High Dividend Yield ETF (VYM). It fits a buyer who puts the fee first: the fund has the lowest expense ratio in the table, and the fund holds 593 stocks, the most of the seven. The trade-off is income, since the 2.35% SEC yield is about half of SPHD's 4.47%.

3. SPDR Portfolio S&P 500 High Dividend ETF (SPYD). It fits an income-first buyer who wants a 4.35% SEC yield at a 0.07% fee, with a large-cap US base. The weakness is concentration: 78 holdings is fewer than SCHD's 102 and far fewer than VYM's 593.

4. SPDR S&P Dividend ETF (SDY). Its index selects the highest dividend-yielding S&P Composite 1500 constituents that have followed a managed-dividends policy of raising dividends every year for at least 20 consecutive years, and the fund holds 155 names. It fits a buyer who wants that screen, but the 0.35% fee is $35 a year on $10,000 invested, and the 2.40% SEC yield is below SPYD's.

5. ProShares S&P 500 Dividend Aristocrats ETF (NOBL). ProShares describes the fund as holding companies that have grown dividends for 25 or more years, which fits a dividend-growth focus. The weakness is income: its 2.28% SEC yield is the lowest in this table, and the fee is 0.35%.

6. Invesco S&P 500 High Dividend Low Volatility ETF (SPHD). It fits a buyer who wants monthly distributions and the highest SEC yield here, 4.47%, at a 0.30% fee. The weakness is breadth: 54 holdings is the fewest in the table, and the index is reconstituted semi-annually, in January and July.

7. First Trust Morningstar Dividend Leaders Index Fund (FDL). It fits a buyer who accepts a higher fee for a 4.25% SEC yield across 100 holdings screened by Morningstar. The weakness is cost: 0.43% is the highest expense ratio in the table, and expenses are capped contractually at 0.45% per year, at least through April 30, 2027.

What the archive shows about VYM's fee

The Wayback Machine captured Vanguard's VYM profile on June 20, 2025. That capture lists an expense ratio of 0.06%, dated Feb 28, 2025. The figure dated Feb 27, 2026 is the one in the table above, so the fee changed between the Feb 28, 2025 date on that capture and Feb 27, 2026. An expense ratio moves over time, so the as-of date matters as much as the figure. The archived page shows the older number.

Which fund fits which goal

If the fee comes first, VYM has the lowest expense ratio here and SCHD is next. SCHD pairs the second-lowest expense ratio in this table, 0.06%, with a 3.12% SEC yield, the fourth-highest of the seven. If current income comes first, SPHD and SPYD print the two highest SEC yields in this table, at 0.30% and 0.07% fees. A buyer who wants dividend growth more than yield fits NOBL or SDY. NOBL fits a reader for whom yield is the goal less well, since its 2.28% SEC yield is the lowest here. Anyone who already owns a broad index fund should check overlap first, since all seven funds here hold US stocks.

Funds like these hold stocks, so they can fall in price. Income is one part of the return, and the account a fund sits in changes what a payout is worth. For retirement savings, the 401(k) contribution limits for 2026 set how much can go into the account. For education savings, see 529 plans compared. If the goal is cash instead, money market accounts, CDs and high-yield savings are the usual comparison points, and the rate tracker shows how those rates have moved. For a different kind of ETF, the cheapest bitcoin ETFs guide covers that market.

How to read the yield figures

The SEC 30-day yield divides the net investment income earned over the most recent 30-day period by the maximum offering price and annualizes the result, as SSGA's glossary defines it. A distribution yield adds up the distributions paid over the past 365 days and divides that sum by net asset value per share, per the SSGA glossary. Invesco's "12 month distribution rate" and ProShares' "12-Month Yield" carry different labels, so read the label with each number. The guides hub covers other fund and savings terms.

A yield measures income only. A fund with the highest yield in this table can still lose value in price, so the yield does not show the full return. Readings dated Sep 30 and Oct 22, 2026 cover different 30-day windows, so compare them with the dates in view. Yields also move when the share price moves, so one fund can print different figures on different dates.

FAQ

What is the difference between SEC yield and distribution yield?

The SEC 30-day yield annualizes net investment income over the latest 30 days. A distribution yield adds the payouts over the past 12 months and divides by net asset value. SCHD prints both figures, and SDY and SPYD print a Fund Distribution Yield next to their SEC yields.

Why do the yield dates differ across funds?

Issuers update on their own schedules. In this table the yield figures are dated Sep 30, Oct 21 or Oct 22, 2026, so each reading covers a different window.

Which fund has the lowest expense ratio in this table?

Vanguard VYM, at 0.04% as of Feb 27, 2026. SCHD follows at 0.06%, and SPYD at 0.07%.

Does a higher yield make a fund better?

No. A higher yield can come with fewer holdings or a higher fee. SPHD has the highest SEC yield here but holds 54 stocks, the fewest in the table. VYM has a 2.35% SEC yield, the lowest fee and the most holdings.

What should I compare first?

Start with the fee, then the yield, then the holdings count and index. The VYM archive example above shows that a fee can change, and the as-of date on each fee shows when it was printed. Holdings and index decide how concentrated the fund is, which matters more to some buyers than a small difference in yield.

How often do these funds pay?

Five of the seven pay quarterly: SCHD, VYM, SPYD, SDY and NOBL. SPHD pays monthly. A payout can change from one period to the next, so a yield figure describes recent income, not a promised amount.

What does the fee difference look like in dollars?

On $10,000, the fee on SDY or NOBL comes to $35 a year, and the fee on VYM comes to $4 a year. These figures apply the printed expense ratios before any trading costs or taxes, and the gap grows with a larger balance.

Does this page cover every dividend ETF?

No. It covers seven funds. iShares Core High Dividend ETF (HDV) is not included, so nothing on this page speaks to it.

General information

This page is general information, not personalized financial advice. Confirm current yields, fees and distribution terms with each fund provider. Tax treatment depends on the account type and on each investor's situation, so a tax professional can answer those questions. Financeradar may earn a commission from some links; it never affects rankings (how we make money).

Cite this: Financeradar, "Dividend ETFs in 2026: Yield and Fees for Seven Funds", October 2026.