At a glance
DJD charges 0.07% a year, below the 0.19% average of the 8 funds most like it (the 4th cheapest of 9). It has $486.5M in assets, the 7th largest of that group; it paid 2.26% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +22.3% with distributions reinvested (S&P 500: +11.5%), 4th of those 9 funds; over three years it returned +22.2% a year. At its worst it fell 33.2% in the 2020 crash (S&P 500: 33.7%) and 20.0% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 8 months and 15 months after the lows. Its ten largest positions make up 58.0% of the fund, out of 27 in all.
The short version
Invesco Dow Jones Industrial Average Dividend ETF (DJD) holds the dividend-paying members of the Dow Jones Industrial Average. That was 27 stocks as of June 30, 2026, weighted by dividend yield rather than share price. The weighting tilts the fund toward higher-yielding names such as UnitedHealth Group, Chevron and Cisco. It costs 0.07% a year, less than DIA's 0.16%, and its trailing yield was 2.26% as of October 27, 2026.
Price history
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DJD +22.3% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| DJD official prospectus, to Dec 31, 2025 | — | +15.72% | — | +11.83% | +11.89% | — |
| DJD price data to Oct 27, 2026 | +19.2% | +22.3% | +22.2% | +12.3% | +12.8% | +12.7% |
- Over the year to Oct 27, 2026, DJD returned +22.3%, 4th of 9 among similar funds.
- Its 5-year annualized return was +12.3% and its 10-year +12.8%.
- In the 2020 COVID crash it fell 33.2% and regained its old high 7.8 months after the low.
- Its worst full calendar year was 2022 (-0.8%); its best was 2021 (+22.4%).
- The deepest fall in its price history was 34.6% (Jan 17, 2020 to Mar 23, 2020), recovered by Dec 4, 2020.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +19.2% | — |
| 2025 | +15.8% | +15.72% |
| 2024 | +13.6% | +13.79% |
| 2023 | +9.4% | +9.26% |
| 2022 | -0.8% | -0.61% |
| 2021 | +22.4% | +22.33% |
| 2020 | +0.9% | +0.94% |
| 2019 | +22.0% | +22.37% |
| 2018 | +0.1% | +0.11% |
| 2017 | +22.3% | +21.63% |
| 2016 | +17.0% | +16.93% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 33.2% over that stretch · deepest drop along the way 33.2%, back to its old high 7.8 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 15% over that stretch · deepest drop along the way 20%, back to its old high 14.5 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.1300 | |
| 2025 | $1.4900 | -2.0% |
| 2024 | $1.5200 | -5.0% |
| 2023 | $1.6000 | +16.8% |
| 2022 | $1.3700 | +7.0% |
| 2021 | $1.2800 | -3.0% |
| 2020 | $1.3200 | +18.9% |
| 2019 | $1.1100 | +24.7% |
| 2018 | $0.8900 | -19.9% |
| 2017 | $1.1117 | +6.4% |
| 2016 | $1.0449 |
What's inside
As of Jul 31, 2026, the fund held 27 securities; the ten largest made up 57.99% of assets.
| Holding | Weight | |
|---|---|---|
| UnitedHealth Group Inc. | 8.46% | |
| Chevron Corp. | 7.56% | |
| Cisco Systems, Inc. | 6.07% | |
| Merck & Co., Inc. | 5.94% | |
| Coca-Cola Co. (The) | 5.67% | |
| Amgen Inc. | 5.12% | |
| Goldman Sachs Group, Inc. (The) | 5.00% | |
| International Business Machines Corp. | 4.86% | |
| JPMorgan Chase & Co. | 4.72% | |
| Procter & Gamble Co. (The) | 4.60% | |
| Home Depot, Inc. (The) | 4.47% | |
| Johnson & Johnson | 4.27% | |
| 3M Co. | 4.14% | |
| NIKE, Inc. | 3.82% | |
| McDonald's Corp. | 3.51% |
By country
United States 99.94%By asset type
Stocks 99.94%By sector
Sectors of the companies held, for the 99.9% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jul 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jul 31, 2026, investors added a net $4.8M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +3.42%, +1.38%, +1.99%.
How it works
DJD tracks the Dow Jones Industrial Average Yield Weighted Index, which is compiled by S&P Dow Jones Indices. The starting point is the Dow Jones Industrial Average, a list of 30 large U.S. companies. The index keeps every Dow member that pays a dividend and leaves out those that don't. As of June 30, 2026, that left 27 companies, with market values ranging from $49.2 billion to $4.8 trillion.
The weighting is what makes this fund unusual. The Dow itself is price-weighted, which means a stock with a higher share price counts for more. DJD's index instead weights each company by its indicated annual dividend yield: the yearly dividend divided by the share price. A higher yield earns a bigger slice. One side effect: if a stock's price falls while its dividend holds steady, its yield rises, so it can gain weight when the fund rebalances. As of July 31, 2026, UnitedHealth Group (8.5%), Chevron (7.6%) and Cisco (6.1%) were the largest holdings, and the top 10 made up 58% of assets.
Invesco uses "full replication," which means the fund buys every stock in the index in proportion to its weight. The fund is classed as non-diversified, so a single stock can move it more than it would move a broadly diversified fund. Portfolio turnover was 18%, according to the prospectus, and the fund held no derivatives as of July 31, 2026.
What it really costs
- DJD charges 0.07% a year, versus an average of 0.19% for the similar funds below (4th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $7 in the first year and $90 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| DJD | $7 | $23 | $40 | $90 |
In a retirement portfolio
DJD gives extra weight to the highest-yielding Dow stocks and pays quarterly dividends at a very low cost, though its yield is modest and it holds only 27 stocks.
DJD could serve as an income piece within the stock part of a portfolio. As of October 27, 2026, its trailing 12-month yield was 2.26%, paid quarterly. It costs 0.07% a year, which works out to $90 over 10 years on $10,000 in the SEC's standard example. The fund launched in December 2015, so it has no record from 2008. Its deepest drop, 34.6% during the 2020 COVID crash, took 8.4 months to recover. In 2022 it fell 20% from its April peak and needed 14.5 months to climb back, even though its worst calendar year, 2022, ended down just 0.61%. A retiree who has to sell shares during a slide like that locks in losses. With only 27 stocks, trouble at one large holding also matters more. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want Dow blue chips with a dividend tilt for 0.07% a year, below DIA's 0.16% and the 0.19% similar-fund average.
- Holders who like quarterly income, with a 2.26% trailing yield as of October 27, 2026, from companies like Chevron, Coca-Cola and Merck.
- Those comfortable with a concentrated 27-stock portfolio heavy in health care (23.8%) and financials (17.3%) as of July 31, 2026.
Look elsewhere if
- Investors who want broad diversification: this non-diversified fund holds only Dow members, and its top 10 were 58% of assets as of July 31, 2026.
- Income seekers who need a larger payout: a 2.26% yield is modest, and funds such as SCHD, HDV and VYM are worth comparing.
- Anyone uneasy with steep drops: it fell 34.6% in early 2020 and took 14.5 months to recover from its 2022 slide.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| DJD this fund | — | 0.07% | $486.5M | +22.3% | +22.2% |
| EDOW First Trust Dow 30 Equal Weight ETF | 71% | 0.5% | $306.6M | +14.6% | +19.9% |
| DIA SPDR Dow Jones Industrial Average ETF Trust | 61% | 0.16% | $45.21B | +10.8% | +17.2% |
| SCHD Schwab US Dividend Equity ETF | 29% | 0.06% | $112.34B | +38.9% | +19.9% |
| DGRO iShares Core Dividend Growth ETF | 29% | 0.08% | $42.77B | +21.8% | +20.6% |
| HDV iShares Core High Dividend ETF | 28% | 0.08% | $14.90B | +38.0% | +21.7% |
| PWV Invesco Large Cap Value ETF | 25% | 0.53% | $1.73B | +23.4% | +24.3% |
| VYM Vanguard High Dividend Yield Index ETF | 24% | 0.06% | $99.19B | +19.1% | +21.2% |
Questions investors ask
Is DJD good for retirement income?
DJD can provide part of a retirement income stream, but its yield is modest. As of October 27, 2026, its trailing 12-month yield was 2.26%, or $1.51 a share, paid quarterly. The payments depend on dividend decisions at 27 Dow companies and can change. Share prices can also fall sharply: the fund dropped 34.6% in early 2020, so the value of the portfolio behind that income can swing a lot.
What's the difference between DJD and DIA?
Both are built from the Dow Jones Industrial Average, but they weight it differently. DIA follows the Dow, which is price-weighted, so higher-priced shares count for more. DJD keeps only the dividend payers (27 as of June 30, 2026) and weights them by dividend yield. DJD costs 0.07% a year, compared with 0.16% for DIA. DIA is much larger, with about $45.2 billion in net assets versus DJD's $486.5 million as of July 31, 2026. Their holdings overlap by 61%.
How often does DJD pay dividends?
DJD pays dividends quarterly. Over the 12 months to October 27, 2026, it paid $1.51 per share, a trailing yield of 2.26%. Because the index gives more weight to higher-yielding Dow stocks, much of the fund is in companies such as UnitedHealth Group, Chevron, Cisco, Merck and Coca-Cola, its five largest holdings as of July 31, 2026. Payouts can rise or fall as those companies change their dividends.
How much does DJD cost?
DJD's expense ratio is 0.07% a year, all of it management fee, according to its prospectus filed August 27, 2026. In the SEC's standard example, $10,000 invested with a 5% yearly return would cost about $7 after one year, $40 after five years and $90 after ten. The average for similar funds is 0.19%. DIA charges 0.16% and EDOW 0.50%, while SCHD and VYM charge 0.06%.
How has DJD performed over the long term?
As of December 31, 2025, DJD returned an average of 11.83% a year over five years and 11.89% a year over ten years, according to its prospectus. Its one-year return to that date was 15.72%. From 2016 to 2025 it lost money in only one calendar year: 2022, when it fell 0.61%. Its worst quarter was a 23.79% drop in early 2020. Past returns don't predict future results.