At a glance
XUDV charges 0.09% a year, below the 0.41% average of the 8 funds most like it (the 3rd cheapest of 9). It has $73.6M in assets, the 7th largest of that group; it paid 3.39% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +27.7% with distributions reinvested (S&P 500: +11.5%), 2nd of those 9 funds. Its ten largest positions make up 42.0% of the fund, out of 91 in all.
The short version
Franklin U.S. Dividend Multiplier Index ETF (XUDV) tracks the VettaFi New Frontier U.S. Dividend Select Index. The index is a rules-based mix of about 90 large U.S. companies, picked and weighted to raise dividend yield while keeping price swings in check. Its 0.09% expense ratio is far below the 0.41% average of similar dividend funds. Its trailing 12-month yield was 3.39% as of October 27, 2026. It is small and young, launched in January 2025.
Price history
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XUDV +27.7% 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 | |
|---|---|---|---|---|---|---|
| XUDV price data to Oct 27, 2026 | +26.9% | +27.7% | — | — | — | +19.8% |
- Over the year to Oct 27, 2026, XUDV returned +27.7%, 2nd of 9 among similar funds.
- The deepest fall in its price history was 16% (Feb 19, 2025 to Apr 8, 2025), recovered by Jun 26, 2025.
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +26.9% |
| 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 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.7600 |
What's inside
As of Jun 30, 2026, the fund held 91 securities; the ten largest made up 42.03% of assets.
| Holding | Weight | |
|---|---|---|
| UNITED PARCEL SERVICE INC | 4.97% | |
| KRAFT HEINZ COMPANY (THE) | 4.63% | |
| PFIZER INC | 4.62% | |
| ALTRIA GROUP INC | 4.57% | |
| GENERAL MILLS INC | 4.52% | |
| VERIZON COMMUNICATIONS INC | 4.20% | |
| BEST BUY CO INC | 4.01% | |
| PAYCHEX INC | 3.75% | |
| ONEOK INC | 3.54% | |
| T. ROWE PRICE GROUP INC | 3.23% | |
| PRUDENTIAL FINANCIAL INC | 3.14% | |
| ARES MANAGEMENT CORP | 3.09% | |
| HP INC | 3.00% | |
| BLACKSTONE INC | 2.66% | |
| BRISTOL-MYERS SQUIBB COMPANY | 2.51% |
By country
United States 94.76%Jersey 2.35%Netherlands 1.1%Ireland 0.33%Cayman Islands 0.19%By asset type
Stocks 98.74%By sector
Sectors of the companies held, for the 68.9% 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 Jun 30, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jun 30, 2026, investors added a net $8.1M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +7.15%, +5.22%, -0.82%.
How it works
XUDV is a Franklin Templeton index fund that aims to match the VettaFi New Frontier U.S. Dividend Select Index, before fees, with at least 80% of its assets in that index's stocks. VettaFi builds the index from its US Equity Large-Cap 500 Index, which covers about 88% of the U.S. stock market by float-adjusted value (counting only shares the public can buy). As of May 31, 2026, the index held 97 stocks.
Each quarter, an optimizer, a formula that finds the best mix within limits, picks and weights stocks to get as much dividend yield as possible while trying to limit volatility relative to the parent index. At each reset, single stocks are capped at 5% and sectors at 30% or 1.5 times their parent-index weight. As of June 30, 2026, the largest holdings, United Parcel Service (5.0%), Kraft Heinz (4.6%) and Pfizer (4.6%), sat near that cap. Turnover, the share of the index swapped out, is generally capped at 15% per reset.
The fund may hold every index stock or a smaller sample meant to behave like the index. It can use equity futures and total return swaps, for example to keep spare cash invested. It is not a leveraged or options-income fund. Because it is passive, it won't turn defensive in falling markets. The prospectus lists 65% portfolio turnover.
What it really costs
- XUDV charges 0.09% a year, versus an average of 0.41% for the similar funds below (3rd of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $9 in the first year and $116 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| XUDV | $9 | $29 | $51 | $116 |
In a retirement portfolio
The fund is built to deliver a higher dividend yield than the broad large-company U.S. market and pays out every quarter.
XUDV could serve as the income part of a stock portfolio. Its trailing 12-month yield was 3.39% as of October 27, 2026, and it pays quarterly. Costs are low: in the SEC's standard example, $10,000 invested would pay about $9 in the first year and $116 over 10 years. Its record in market stress is thin. The fund launched in January 2025, so it was not around for the 2008 crisis, the 2020 COVID crash or the 2022 bear market. Its deepest drop was 16%, from February 19 to April 8, 2025, and it took about 2.6 months to recover, by June 26, 2025. Anyone who sold during that stretch would have locked in losses. A handful of stocks carry heavy weights, so one dividend cut can matter. 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 wanting quarterly dividends from large U.S. companies; the trailing 12-month yield was 3.39% as of October 27, 2026.
- Cost-conscious holders: the 0.09% expense ratio is well under the 0.41% average of similar dividend funds.
- Those wanting milder swings than the market; its one-year beta, a measure of market sensitivity, was 0.54 as of October 27, 2026.
Look elsewhere if
- Investors wanting a long track record; launched in January 2025, it has never been through a full bear market.
- Those seeking the lowest cost or a large fund: SCHD (0.06%) and SPYD (0.07%) cost less, and XUDV held about $73.6 million.
- Anyone uneasy with concentration: the top 10 holdings made up 42% of assets as of June 30, 2026, led by UPS, Kraft Heinz and Pfizer.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| XUDV this fund | — | 0.09% | $73.6M | +27.7% | — |
| FDL First Trust Morningstar Dividend Leaders In… | 43% | 0.45% | $7.29B | +26.1% | +23.9% |
| WBIY WBI Power Factor High Dividend ETF | 42% | 0.99% | $59.0M | +20.2% | +20.2% |
| SPHD Invesco S&P 500® High Dividend Low Volatili… | 39% | 0.3% | $3.41B | +10.0% | +15.8% |
| SPYD SPDR Portfolio S&P 500 High Dividend ETF | 33% | 0.07% | $7.37B | +14.7% | +18.8% |
| DVY iShares Select Dividend ETF | 32% | 0.38% | $23.47B | +21.5% | +19.2% |
| KNGZ First Trust S&P 500 Diversified Dividend Ar… | 32% | 0.5% | $62.1M | +23.6% | +22.3% |
| PEY Invesco High Yield Equity Dividend Achiever… | 30% | 0.53% | $1.13B | +19.4% | +15.7% |
Questions investors ask
Is XUDV good for retirement income?
It may suit retirees who want dividend income from large U.S. companies. The trailing 12-month yield was 3.39% as of October 27, 2026, paid quarterly, and the expense ratio is 0.09%. The drawbacks: the fund only launched in January 2025, so it has not been through a long bear market. A few stocks, such as UPS, Kraft Heinz and Pfizer, each made up close to 5% of assets as of June 30, 2026, so one dividend cut can hurt income.
Does XUDV pay monthly dividends?
No. XUDV pays dividends quarterly, not monthly. Over the 12 months through October 27, 2026, it paid about $1.11 per share, a trailing yield of 3.39%. Dividends can change. The prospectus warns that companies with a history of regular payouts may cut or stop them, which would reduce the fund's income.
What is the expense ratio of XUDV?
XUDV's expense ratio is 0.09% a year, according to the prospectus filed July 27, 2026. In the SEC's standard example, $10,000 invested at a 5% yearly return would cost about $9 in the first year, $51 over five years and $116 over 10 years. That is well below the 0.41% average of similar dividend funds. SCHD (0.06%) and SPYD (0.07%) cost a little less.
XUDV vs FDL: what's the difference?
First Trust Morningstar Dividend Leaders Index Fund (FDL) is the most similar fund by holdings, with 43% overlap. The big differences are cost and size. FDL charges 0.45% a year against XUDV's 0.09%, and FDL held about $7.3 billion against XUDV's $73.6 million as of June 30, 2026. One-year returns were close as of October 27, 2026: 27.7% for XUDV and 26.1% for FDL. FDL also has a longer track record.
What are XUDV's top holdings?
As of June 30, 2026, XUDV's largest holdings were United Parcel Service (about 5.0%), Kraft Heinz (4.6%), Pfizer (4.6%), Altria (4.6%), General Mills (4.5%) and Verizon (4.2%). The top 10 made up 42% of assets across 91 holdings. Among holdings with sector data, financials and consumer staples had the largest weights. The index caps any single stock at 5% when it rebuilds each quarter.