At a glance
HDV charges 0.08% a year, below the 0.32% average of the 8 funds most like it (the 2nd cheapest of 9). It has $14.90B in assets, the 2nd largest of that group; it paid 5.29% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +38.0% with distributions reinvested (S&P 500: +11.5%), 2nd of those 9 funds; over three years it returned +21.7% a year. At its worst it fell 35.3% in the 2020 crash (S&P 500: 33.7%) and 15.4% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 11 months and 2 months after the lows. Its ten largest positions make up 51.4% of the fund, out of 75 in all.
The short version
iShares Core High Dividend ETF (HDV) is a BlackRock index fund that holds 75 high-yielding U.S. stocks, such as ExxonMobil, AbbVie and Chevron. Morningstar screens these companies for competitive strength and financial health. HDV's 0.08% expense ratio is far below the 0.32% average of similar funds. Its trailing 12-month yield was 5.34% as of October 29, 2026, and it pays quarterly.
Price history
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HDV +38.0% 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 | |
|---|---|---|---|---|---|---|
| HDV official prospectus, to Dec 31, 2025 | — | +11.88% | — | +10.68% | +9.07% | — |
| Morningstar US Market Index index, same period | — | +17.35% | — | +13.29% | +14.40% | — |
| Morningstar Dividend Yield Focus Index index, same period | — | +12.03% | — | +10.79% | +9.16% | — |
| HDV price data to Nov 2, 2026 | +33.9% | +38.0% | +21.7% | +13.9% | +11.3% | +11.4% |
- Over the year to Nov 2, 2026, HDV returned +38.0%, 2nd of 9 among similar funds.
- Its 5-year annualized return was +13.9% and its 10-year +11.3%.
- In the 2020 COVID crash it fell 35.3% and regained its old high 11.1 months after the low.
- Its worst full calendar year was 2020 (-6.5%); its best was 2013 (+23.6%).
- The deepest fall in its price history was 37% (Dec 23, 2019 to Mar 23, 2020), recovered by Mar 8, 2021.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +33.9% | — |
| 2025 | +11.9% | +11.88% |
| 2024 | +14.2% | +14.16% |
| 2023 | +1.7% | +1.77% |
| 2022 | +7.1% | +7.06% |
| 2021 | +19.4% | +19.38% |
| 2020 | -6.5% | -6.47% |
| 2019 | +20.2% | +20.35% |
| 2018 | -3.0% | -2.93% |
| 2017 | +13.4% | +13.36% |
| 2016 | +15.9% | +15.79% |
| 2015 | -0.3% | — |
| 2014 | +12.6% | — |
| 2013 | +23.6% | — |
| 2012 | +9.7% | — |
| 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 35.3% over that stretch · deepest drop along the way 35.3%, back to its old high 11.1 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 5.1% over that stretch · deepest drop along the way 15.4%, back to its old high 2 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.3900 | |
| 2025 | $0.7820 | -5.1% |
| 2024 | $0.8240 | +5.6% |
| 2023 | $0.7800 | +5.1% |
| 2022 | $0.7420 | +6.0% |
| 2021 | $0.7000 | -1.7% |
| 2020 | $0.7120 | +10.9% |
| 2019 | $0.6420 | +3.5% |
| 2018 | $0.6200 | +5.1% |
| 2017 | $0.5900 | +8.9% |
| 2016 | $0.5420 | -5.9% |
| 2015 | $0.5760 | +17.1% |
| 2014 | $0.4920 | +10.3% |
| 2013 | $0.4460 | +6.2% |
| 2012 | $0.4200 |
Living on HDV: its income record, cuts, and how much a $1,000 monthly income takes →
What's inside
As of Jul 31, 2026, the fund held 75 securities; the ten largest made up 51.44% of assets.
| Holding | Weight | |
|---|---|---|
| EXXONMOBIL HOLDINGS CORP | 7.88% | |
| ABBVIE INC | 6.16% | |
| CHEVRON CORP | 6.13% | |
| VERIZON COMMUNICATIONS INC | 5.51% | |
| PROCTER & GAMBLE COMPANY (THE) | 4.52% | |
| HOME DEPOT INC (THE) | 4.45% | |
| PHILIP MORRIS INTERNATIONAL INC | 4.44% | |
| PFIZER INC | 4.27% | |
| COCA-COLA COMPANY (THE) | 4.09% | |
| MERCK & COMPANY INC | 3.99% | |
| PEPSICO INC | 3.46% | |
| ALTRIA GROUP INC | 3.06% | |
| AMGEN INC | 2.71% | |
| BRISTOL-MYERS SQUIBB COMPANY | 2.70% | |
| MCDONALD'S CORP | 2.31% |
By country
United States 97.84%Ireland 1.73%By asset type
Stocks 99.57%By sector
Sectors of the companies held, for the 79.2% 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 $727.8M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -1.01%, +1.51%, +5.07%.
How it works
HDV tracks the Morningstar Dividend Yield Focus Index. That index is drawn from the Morningstar US Market Index, which covers about 97% of the value of publicly traded U.S. stocks. To get in, a company's dividends must count as "qualified income", and the company must pass two Morningstar screens. The first is the Economic Moat rating, which judges how durable a company's competitive advantage is. A company needs a "narrow" or "wide" moat. The second is Distance to Default, a model that estimates how likely a company is to default. A company must rank in the top 50% of dividend payers in its sector, or in the top 30% if it has no moat rating. The 75 highest-yielding stocks that pass make up the index.
Morningstar, not BlackRock, picks the index's stocks and sets their weights, and both change over time. BlackRock uses "representative sampling": the fund may not own every stock in the index, but it aims for a similar overall profile. It keeps at least 80% of net assets in index stocks. The prospectus reports 65% portfolio turnover, so holdings change a good deal.
The fund may use futures, which made up about 0.01% of assets as of July 31, 2026. It may also lend out up to a third of its assets. The top 10 holdings made up about 51% of the fund, led by ExxonMobil at 7.9%.
What it really costs
- HDV charges 0.08% a year, versus an average of 0.32% for the similar funds below (2nd of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $8 in the first year and $103 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| HDV | $8 | $26 | $45 | $103 |
In a retirement portfolio
HDV's main appeal is a high, quarterly dividend from established U.S. companies at a very low cost, rather than growth or crash protection.
HDV's trailing 12-month yield was 5.34% as of October 29, 2026, paid quarterly. Its 0.08% expense ratio works out to $8 in the first year on $10,000 in the SEC's standard example. The trade-off is growth. Through December 31, 2025, its 10-year average annual return of 9.07% trailed the 14.4% of the Morningstar US Market Index.
Its record in downturns is mixed. HDV launched in 2011, so it has no 2008 record. It fell 35.3% in the 2020 COVID crash. Its deepest drop, 37% from a December 2019 peak, took about 11.5 months to recover. In 2022 it held up well, losing 5.1% while the market fell, and it ended the year up 7.06%. Its worst calendar year was 2020, when it lost 6.47%. Someone drawing cash in a 2020-style slump could have had to cash out shares near the bottom. 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
- Income-focused investors who want quarterly dividends from 75 established U.S. companies. The trailing yield was 5.34% as of October 29, 2026.
- Cost-conscious investors: the 0.08% expense ratio is about a quarter of the 0.32% average for similar dividend funds.
- Investors who want a quality filter: Morningstar screens for competitive advantage and low default risk before picking the highest yielders.
Look elsewhere if
- Investors seeking growth: HDV's 10-year return of 9.07% a year trailed the Morningstar US Market Index's 14.4% through December 31, 2025.
- Anyone wanting broad diversification: the top 10 holdings were 51% of assets as of July 31, 2026, mostly in energy, health care and consumer staples.
- Investors uneasy with sharp drops: HDV fell 35.3% in the 2020 COVID crash, and its deepest drop took about 11.5 months to recover.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| HDV this fund | — | 0.08% | $14.90B | +38.0% | +21.7% |
| SCHD Schwab US Dividend Equity ETF | 49% | 0.06% | $112.34B | +38.9% | +19.9% |
| DURA VanEck Durable High Dividend ETF | 49% | 0.3% | $37.2M | +23.2% | +15.9% |
| FDL First Trust Morningstar Dividend Leaders In… | 45% | 0.45% | $7.29B | +26.1% | +23.9% |
| DHS WisdomTree US High Dividend Fund | 38% | 0.38% | $1.50B | +20.5% | +21.1% |
| LVHD Franklin U.S. Low Volatility High Dividend … | 38% | 0.27% | $606.9M | +11.6% | +15.4% |
| CDL VictoryShares US Large Cap High Dividend Vo… | 33% | 0.35% | $391.7M | +18.9% | +19.6% |
| AVIE Avantis Inflation Focused Equity ETF | 31% | 0.25% | $12.9M | +32.4% | +16.8% |
Compared head to head: HDV vs SCHD · all comparisons →
Questions investors ask
Is HDV good for retirement income?
It can be one source of income. HDV paid $1.64 per share over the 12 months to October 29, 2026, a trailing yield of 5.34%, with dividends paid quarterly. It holds 75 high-yielding U.S. stocks screened for financial health. The trade-off is growth. Through December 31, 2025, its 10-year average annual return of 9.07% trailed the 14.4% of the broad Morningstar US Market Index. Dividends are not guaranteed, and companies can cut them.
What's the difference between HDV and SCHD?
Both are low-cost U.S. dividend ETFs, and about 49% of their holdings overlap. SCHD charges 0.06% a year and HDV charges 0.08%. SCHD is also much larger: $112.3 billion in net assets as of August 31, 2026, compared with HDV's $14.9 billion as of July 31, 2026. HDV picks 75 high yielders using Morningstar's moat and default-risk screens. In the year to October 29, 2026, SCHD returned 37.8% and HDV 36.2%. Over three years, HDV led, at 23.0% a year compared with 21.2%.
How often does HDV pay dividends?
HDV pays dividends quarterly. Over the 12 months to October 29, 2026, it paid $1.64 per share, a trailing yield of 5.34%. Its index only includes stocks whose dividends count as qualified income. In a taxable account, qualified dividends are generally taxed at lower rates if holding-period rules are met. Payouts can change from quarter to quarter, because the companies it owns don't have to keep paying dividends.
What are HDV's top holdings?
As of July 31, 2026, ExxonMobil was the largest holding at about 7.9% of assets. Next came AbbVie (6.2%), Chevron (6.1%), Verizon (5.5%) and Procter & Gamble (4.5%). Home Depot, Philip Morris International, Pfizer, Coca-Cola and Merck round out the top 10, which together made up about 51% of the fund. The fund leans heavily on energy, health care and consumer staples, so it can lag when those sectors are out of favor.
How much did HDV drop in the 2020 crash?
HDV fell 35.3% between February 19 and March 23, 2020, during the COVID crash. It regained its earlier peak in February 2021, about 11 months later. Its worst quarter in the prospectus's 10-year record was the first quarter of 2020, at -26.13%. It still finished 2020 down only 6.47%, which was its worst calendar year. In 2022, while the broad market fell, HDV gained 7.06% for the year.