At a glance
DVY charges 0.38% a year, below the 0.41% average of the 8 funds most like it (the 5th cheapest of 9). It has $23.47B in assets, the largest of that group; it paid 3.28% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +21.5% with distributions reinvested (S&P 500: +11.5%), 6th of those 9 funds; over three years it returned +19.2% a year. At its worst it fell 41.0% in the 2020 crash (S&P 500: 33.7%) and 17.3% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 10 months and 18 months after the lows. Its ten largest positions make up 18.8% of the fund, out of 99 in all.
The short version
BlackRock's iShares Select Dividend ETF (DVY) tracks the Dow Jones U.S. Select Dividend Index: 100 of the highest-yielding U.S. stocks, excluding real estate investment trusts, that also pass tests for steady dividends and profits. It is built for income: it leans toward utilities and financial companies, yielded 3.3% over the 12 months to October 29, 2026, pays quarterly and costs 0.38% a year, just under the 0.41% average of similar funds.
Price history
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DVY +21.5% over the year to Nov 2, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| DVY official prospectus, to Dec 31, 2025 | — | +11.64% | — | +11.96% | +10.38% | — |
| SP Total Market Index index, same period | — | +17.05% | — | +13.07% | +14.22% | — |
| Dow Jones US Select Dividend Index index, same period | — | +12.12% | — | +12.43% | +10.83% | — |
| DVY price data to Nov 2, 2026 | +18.5% | +21.5% | +19.2% | +10.4% | +11.0% | +8.4% |
- Over the year to Nov 2, 2026, DVY returned +21.5%, 6th of 9 among similar funds.
- Its 5-year annualized return was +10.4% and its 10-year +11.0%.
- In the 2020 COVID crash it fell 41% and regained its old high 9.8 months after the low.
- Its worst full calendar year was 2008 (-32.9%); its best was 2021 (+31.7%).
- The deepest fall in its price history was 62.6% (May 22, 2007 to Mar 9, 2009), recovered by Jan 29, 2013.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +18.5% | — |
| 2025 | +11.6% | +11.64% |
| 2024 | +16.3% | +16.19% |
| 2023 | +1.2% | +1.09% |
| 2022 | +1.8% | +1.92% |
| 2021 | +31.7% | +31.63% |
| 2020 | -4.9% | -4.90% |
| 2019 | +22.6% | +22.66% |
| 2018 | -6.3% | -6.30% |
| 2017 | +14.8% | +14.95% |
| 2016 | +21.6% | +21.46% |
| 2015 | -2.1% | — |
| 2014 | +14.8% | — |
| 2013 | +28.9% | — |
| 2012 | +10.5% | — |
| 2011 | +11.8% | — |
| 2010 | +17.8% | — |
| 2009 | +11.2% | — |
| 2008 | -32.9% | — |
| 2007 | -5.7% | — |
| 2006 | +19.4% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 61% over that stretch · deepest drop along the way 61%, back to its old high 42.9 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 40.8% over that stretch · deepest drop along the way 41%, back to its old high 9.8 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 10.5% over that stretch · deepest drop along the way 17.3%, back to its old high 17.9 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $3.7300 | |
| 2025 | $5.1500 | +7.3% |
| 2024 | $4.8000 | +7.4% |
| 2023 | $4.4700 | +7.7% |
| 2022 | $4.1500 | +8.6% |
| 2021 | $3.8200 | +8.2% |
| 2020 | $3.5300 | -1.9% |
| 2019 | $3.6000 | +12.9% |
| 2018 | $3.1900 | +7.8% |
| 2017 | $2.9600 | +10.0% |
| 2016 | $2.6900 | +3.9% |
| 2015 | $2.5900 | +7.9% |
| 2014 | $2.4000 | +9.6% |
| 2013 | $2.1900 | +2.8% |
| 2012 | $2.1300 | +15.8% |
| 2011 | $1.8400 | +8.2% |
| 2010 | $1.7000 | +2.4% |
| 2009 | $1.6600 | -31.4% |
| 2008 | $2.4200 | +2.1% |
| 2007 | $2.3700 | +6.3% |
| 2006 | $2.2291 |
Living on DVY: its income record, cuts, and how much a $1,000 monthly income takes →
What's inside
As of Jul 31, 2026, the fund held 99 securities; the ten largest made up 18.76% of assets.
| Holding | Weight | |
|---|---|---|
| PRUDENTIAL FINANCIAL INC | 2.21% | |
| T. ROWE PRICE GROUP INC | 2.13% | |
| ALTRIA GROUP INC | 2.09% | |
| HP INC | 2.04% | |
| PFIZER INC | 2.00% | |
| VERIZON COMMUNICATIONS INC | 1.74% | |
| ONEOK INC | 1.74% | |
| FORD MOTOR CO | 1.62% | |
| KIMBERLY CLARK CORP | 1.62% | |
| EDISON INTERNATIONAL | 1.56% | |
| TARGET CORP | 1.56% | |
| CVS HEALTH CORP | 1.49% | |
| GENERAL MILLS INC | 1.48% | |
| DOMINION ENERGY INC | 1.48% | |
| TRUIST FINANCIAL CORP | 1.40% |
By country
United States 95.36%Ireland 1.25%Netherlands 1.23%Bermuda 1.16%Switzerland 0.71%By asset type
Stocks 99.71%By sector
Sectors of the companies held, for the 54.7% 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 withdrew a net $239.9M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -0.32%, +1.70%, +3.14%.
How it works
DVY tracks the Dow Jones U.S. Select Dividend Index, run by S&P Dow Jones Indices, which is independent of BlackRock. The index screens the broad Dow Jones U.S. Index, excluding real estate investment trusts (REITs), and keeps 100 of the highest-yielding stocks; yield is the regular annual dividend divided by the share price. Each stock must have paid dividends for five straight years, keep its dividend per share at or above its five-year average, show non-negative earnings over the past 12 months and have a five-year average dividend coverage ratio of at least 167%, meaning profits comfortably exceeded payouts. Minimum size and trading-volume tests also apply.
S&P Dow Jones Indices sets each stock's weight, reviews the index quarterly and rebalances it, resetting the weights, once a year. As of April 30, 2026, financial and utility companies made up a significant share of the index.
BlackRock uses representative sampling, holding a selection of stocks chosen to behave like the index, with at least 80% of assets in index stocks. As of July 31, 2026, the fund held 99 companies, led by Prudential Financial, T. Rowe Price and Altria, with 18.76% in the top 10. It may also use futures (about 0.01% of assets then) and lend out up to a third of its assets for extra income.
What it really costs
- DVY charges 0.38% a year, versus an average of 0.41% for the similar funds below (5th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $39 in the first year and $480 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| DVY | $39 | $122 | $213 | $480 |
In a retirement portfolio
Its index picks U.S. stocks for high, well-covered dividends, so its main draw is a quarterly income stream rather than growth or protection in downturns.
DVY may add a quarterly dividend stream: its trailing 12-month yield was 3.3% as of October 29, 2026, at a yearly cost of 0.38%. That income rides on stocks, though. Its deepest drop came in the 2008 financial crisis: a 62.6% fall from May 2007 to March 2009, followed by nearly 47 months to recover. Its worst calendar year was also 2008, when it lost 32.9%. It fell 41% in the 2020 COVID crash and recovered about 10 months after the low. In 2022 it dropped 17.3% from its April peak and took about 18 months to recover, yet finished the calendar year up 1.92%.
Someone drawing on the fund in a bad year could lock in losses by taking money out at depressed prices, and the companies it holds are not required to keep paying dividends. 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 seeking quarterly income from about 100 high-yielding U.S. stocks, with a trailing 12-month yield of 3.3% as of October 29, 2026.
- Those who prefer dividend screens that reward consistency: stocks must have paid dividends five straight years and kept them at or above their five-year average.
- Investors wanting holdings spread widely: the largest holding, Prudential Financial, was 2.21% of assets and the top 10 just 18.76% on July 31, 2026.
Look elsewhere if
- Investors focused on long-term growth: over 10 years to December 31, 2025, DVY returned 10.38% a year versus 14.22% for the S&P Total Market Index.
- Investors who couldn't sit through deep losses: DVY fell 62.6% from 2007 to 2009 and 41% in the 2020 COVID crash.
- Cost-focused investors: the 0.38% annual fee compares with 0.05% for iShares Core Dividend ETF (DIVB), a dividend fund with 25% holdings overlap.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| DVY this fund | — | 0.38% | $23.47B | +21.5% | +19.2% |
| SDOG ALPS Sector Dividend Dogs ETF | 44% | 0.36% | $1.44B | +24.8% | +22.4% |
| FDL First Trust Morningstar Dividend Leaders In… | 37% | 0.45% | $7.29B | +26.1% | +23.9% |
| SPHD Invesco S&P 500® High Dividend Low Volatili… | 36% | 0.3% | $3.41B | +10.0% | +15.8% |
| XUDV Franklin U.S. Dividend Multiplier Index ETF | 32% | 0.09% | $73.6M | +27.7% | — |
| KNGZ First Trust S&P 500 Diversified Dividend Ar… | 32% | 0.5% | $62.1M | +23.6% | +22.3% |
| WBIY WBI Power Factor High Dividend ETF | 30% | 0.99% | $59.0M | +20.2% | +20.2% |
| PEY Invesco High Yield Equity Dividend Achiever… | 29% | 0.53% | $1.13B | +19.4% | +15.7% |
Questions investors ask
Does DVY pay monthly dividends?
No. DVY pays dividends quarterly. Over the 12 months to October 29, 2026, it paid $5.35 per share, a trailing yield of 3.3%. Payments vary because they depend on what the roughly 100 companies in the fund pay out, and those companies are not required to keep paying. The index does require members to have paid dividends in each of the past five years and to have earnings that comfortably cover them.
What is DVY's expense ratio?
DVY's expense ratio, the annual fee deducted from fund assets, is 0.38%, according to its prospectus filed August 21, 2026. In the SEC's standard example, $10,000 invested with a 5% yearly return would cost about $39 over one year, $213 over five years and $480 over 10 years. That's a little below the 0.41% average of similar dividend ETFs but well above iShares Core Dividend ETF (DIVB) at 0.05%.
What's the difference between DVY and SDOG?
They hold many of the same stocks but differ mainly in size and one-year returns. ALPS Sector Dividend Dogs ETF (SDOG) has the most holdings overlap with DVY of any similar fund, at 44%. Costs are close: 0.36% a year for SDOG versus 0.38% for DVY. DVY held about $23.5 billion in net assets as of July 31, 2026, against about $1.4 billion for SDOG as of August 31, 2026. Over one year, SDOG returned 24.8% (to October 27, 2026) and DVY 19.7% (to October 29, 2026).
Is DVY good for retirement income?
It may suit retirees who want dividend income from stocks, but it carries full stock-market risk. DVY yielded 3.3% over the 12 months to October 29, 2026, with dividends paid quarterly. It also fell 62.6% from May 2007 to March 2009 and needed nearly 47 months from that low to recover, and it lost 41% in the 2020 COVID crash. Companies can cut dividends in hard times. Past results don't predict the future, and the fund is worth judging as one part of a whole portfolio.
Has DVY beaten the stock market?
Not over the 10 years to December 31, 2025. DVY returned 10.38% a year in that period, close to the 10.83% of its own index but well behind the broad S&P Total Market Index's 14.22%. It also trailed over five years (11.96% versus 13.07%) and in 2025 (11.64% versus 17.05%). The gap with its own index partly reflects the 0.38% fee. Over the year to October 29, 2026, DVY returned 19.7%.