At a glance
TDV charges 0.45% a year, above the 0.37% average of the 8 funds most like it (the 4th cheapest of 9). It has $277.4M in assets, the 6th largest of that group; it paid 1.04% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +16.6% with distributions reinvested (S&P 500: +11.5%), 4th of those 9 funds; over three years it returned +22.3% a year. At its worst it fell 32.8% in the 2020 crash (S&P 500: 33.7%) and 25.0% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 4 months and 9 months after the lows. Its ten largest positions make up 31.3% of the fund, out of 43 in all.
The short version
ProShares S&P Technology Dividend Aristocrats ETF (TDV) is an index fund that tracks the S&P Technology Dividend Aristocrats Index. That index holds U.S. technology companies that have raised their dividends every year for at least 7 years. As of August 31, 2026, its 43 holdings were spread fairly evenly, and none was above about 3.4%. The trade-offs are a 0.45% expense ratio, above the 0.37% peer average, and a modest 1.04% yield as of October 27, 2026.
Price history
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TDV +16.6% 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 | |
|---|---|---|---|---|---|---|
| TDV official prospectus, to Dec 31, 2025 | — | +15.91% | — | +11.80% | — | +14.84% |
| TDV price data to Oct 27, 2026 | +20.7% | +16.6% | +22.3% | +12.5% | — | +16.1% |
- Over the year to Oct 27, 2026, TDV returned +16.6%, 4th of 9 among similar funds.
- Its 5-year annualized return was +12.5%.
- In the 2020 COVID crash it fell 32.8% and regained its old high 4.4 months after the low.
- Its worst full calendar year was 2022 (-15.9%); its best was 2020 (+29.0%).
- The deepest fall in its price history was 32.8% (Feb 19, 2020 to Mar 23, 2020), recovered by Aug 3, 2020.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +20.8% | — |
| 2025 | +16.1% | — |
| 2024 | +9.7% | +15.91% |
| 2023 | +27.3% | +9.92% |
| 2022 | -15.9% | +27.18% |
| 2021 | +28.3% | -15.87% |
| 2020 | +29.0% | +28.16% |
| 2019 | — | +29.00% |
| 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 32.8% over that stretch · deepest drop along the way 32.8%, back to its old high 4.4 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 24.8% over that stretch · deepest drop along the way 25%, back to its old high 8.6 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.7900 | |
| 2025 | $0.9500 | +8.0% |
| 2024 | $0.8800 | +10.0% |
| 2023 | $0.8000 | -14.0% |
| 2022 | $0.9300 | +27.4% |
| 2021 | $0.7300 | +25.9% |
| 2020 | $0.5800 |
What's inside
As of Aug 31, 2026, the fund held 43 securities; the ten largest made up 31.32% of assets.
| Holding | Weight | |
|---|---|---|
| Accenture plc | 3.37% | |
| Microsoft Corp. | 3.23% | |
| Genpact Ltd. | 3.15% | |
| Broadridge Financial Solutions, Inc. | 3.15% | |
| Intuit, Inc. | 3.14% | |
| Roper Technologies, Inc. | 3.14% | |
| Dolby Laboratories, Inc. | 3.12% | |
| SS&C Technologies Holdings, Inc. | 3.08% | |
| Motorola Solutions, Inc. | 2.98% | |
| HP, Inc. | 2.97% | |
| Oracle Corp. | 2.95% | |
| CDW Corp. | 2.90% | |
| Jack Henry & Associates, Inc. | 2.86% | |
| International Business Machines Corp. | 2.83% | |
| Mastercard, Inc. | 2.75% |
By country
United States 90.88%Ireland 5.92%Bermuda 3.15%By asset type
Stocks 99.78%RA 0.16%By sector
Sectors of the companies held, for the 60.2% 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 Aug 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Aug 31, 2026, investors withdrew a net $5.0M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -0.06%, -4.65%, +2.96%.
How it works
TDV tracks the S&P Technology Dividend Aristocrats Index. A third-party provider that is not affiliated with ProShares maintains the index. It measures U.S.-listed and U.S.-domiciled technology companies that have raised their dividends every year for at least 7 years. The fund must keep at least 80% of its total assets in index stocks or in instruments that behave like them.
ProShare Advisors generally uses a replication strategy. That means it buys every stock in the index in about the same proportions. It may switch to representative sampling, which means holding a subset that behaves like the whole index. It could do this if a stock becomes illiquid or if buying every stock is impractical or costly. The fund stays fully invested whichever way the market moves. As of August 31, 2026, it held 43 stocks and no derivatives. The weights were fairly even. Accenture (3.4%) and Microsoft (3.2%) led the list, followed by Genpact, Broadridge Financial and Intuit at about 3.1% each. The top 10 made up 31% of assets. Portfolio turnover was 28%.
The fund is non-diversified. That means it can put more of its money into a few companies than a diversified fund can. Its focus on one sector adds to that risk. Like any ETF, its market price can drift above or below the value of its holdings. These gaps are called a premium or a discount.
What it really costs
- TDV charges 0.45% a year, versus an average of 0.37% for the similar funds below (4th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $46 in the first year and $567 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| TDV | $46 | $144 | $252 | $567 |
In a retirement portfolio
It is a non-diversified, single-sector technology fund with a low yield and above-market swings (a one-year beta of 1.27), so it fits better as a small add-on than as a foundation.
TDV could add a dividend-growth tilt to the technology part of a portfolio. The fund launched in November 2019, so it has no record from the 2008 crisis. In the 2020 COVID crash it fell 32.8% between February 19 and March 23, 2020. It was back to its peak by August 3, 2020. In the 2022 bear market it dropped 25% and did not recover until June 30, 2023. Its worst calendar year was 2022, at −15.9%. Anyone who had to sell shares or draw cash during those stretches would have locked in losses.
The income is modest. The trailing 12-month yield was 1.04% as of October 27, 2026, paid quarterly. The 0.45% expense ratio is above the 0.37% peer average. Past results don't predict future ones, 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 tech exposure tilted toward established dividend growers such as Accenture, Microsoft, Intuit and Broadridge Financial.
- Those who prefer an even spread: 43 stocks, with the top 10 at about 31% of assets as of August 31, 2026.
- Holders who value companies with at least 7 straight years of dividend increases and are comfortable with quarterly payouts and tech-sector swings.
Look elsewhere if
- Investors seeking meaningful income: the trailing yield was just 1.04% as of October 27, 2026.
- Cost-focused investors: the 0.45% expense ratio compares with 0.08% for XLK and 0.05% for VIG.
- Anyone who can't tolerate sharp drops: it fell 32.8% in early 2020 and 25% in 2022, and its one-year beta was 1.27.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| TDV this fund | — | 0.45% | $277.4M | +16.6% | +22.3% |
| TDIV First Trust NASDAQ Technology Dividend Inde… | 37% | 0.5% | $4.42B | +15.2% | +31.2% |
| XPND First Trust Expanded Technology ETF | 33% | 0.65% | $39.4M | +1.8% | +25.7% |
| XLK Technology Select Sector SPDR Fund | 27% | 0.08% | $123.91B | +20.1% | +4.0% |
| VEGN US Vegan Climate ETF | 26% | 0.6% | $177.6M | +24.3% | +29.2% |
| VIG Vanguard Dividend Appreciation ETF | 24% | 0.05% | $130.90B | +15.6% | +19.8% |
| QLTY GMO US Quality ETF Shs | 23% | 0.5% | $5.18B | +15.9% | — |
| KNGZ First Trust S&P 500 Diversified Dividend Ar… | 23% | 0.5% | $62.1M | +23.6% | +22.3% |
Questions investors ask
Does TDV pay monthly dividends?
No. TDV pays dividends quarterly, not monthly. As of October 27, 2026, it had paid $1.08 per share over the trailing 12 months. That works out to a yield of about 1.04%. The fund's index picks technology companies with long records of raising dividends, so the focus is on dividend growth rather than a high payout. Investors who want monthly or higher income may want to compare it with funds built for that purpose.
What's the difference between TDV and TDIV?
Both hold dividend-paying technology stocks, but they track different indexes. Their holdings overlapped by 37% in the latest N-PORT reports. TDIV, the First Trust NASDAQ Technology Dividend Index Fund, charges 0.50%, compared with 0.45% for TDV. TDIV is far larger, with $4.4 billion in net assets as of June 30, 2026, against TDV's $277 million as of August 31, 2026. As of October 27, 2026, TDV's one-year return was higher (16.6% vs. 15.2%). TDIV's three-year figure was higher (31.2% vs. 22.3%).
Is TDV good for retirement income?
It is a weak fit for income on its own. The trailing yield was 1.04% as of October 27, 2026, paid quarterly. The fund's appeal is companies that have raised their dividends for at least 7 years in a row, not a large payout. It also swings more than the broad market. It fell 25% in 2022 and needed until June 30, 2023 to recover. That matters for anyone drawing cash from a portfolio.
How much does TDV cost per year?
TDV's expense ratio is 0.45%, according to its prospectus filed September 25, 2026. In the SEC's standard example, a $10,000 investment earning 5% a year would cost about $46 in the first year. It would cost $252 over five years and $567 over ten. That is above the 0.37% average for similar funds. It is also well above broad options such as XLK at 0.08% and VIG at 0.05%.
How did TDV do in 2022?
Poorly. 2022 was TDV's worst calendar year so far, with a loss of 15.9%. From its peak on January 4, 2022, to its low on October 12, 2022, the fund fell about 25%. It did not regain that peak until June 30, 2023. That pattern reflects its technology focus. Tech stocks can fall hard when interest rates rise or growth expectations cool, even when the companies keep raising their dividends.