What Is DVY? iShares Select Dividend ETF

DVY is the iShares Select Dividend ETF, launched by iShares in November 2003. It tracks the Dow Jones U.S. Select Dividend Index, which selects roughly 100 US companies with a consistent record of paying dividends, screens them for payout sustainability, and weights them by the dividends they pay rather than by market capitalization.

DVY, listed on Nasdaq and issued by iShares, part of BlackRock. The full name is the iShares Select Dividend ETF. It is one of the longer-running dividend-focused ETFs in the US market.

Approximately 3.37% as of mid-2026, meaningfully higher than the S&P 500's yield of around 1 to 1.5%. Dividends are paid quarterly and aggregated from the underlying holdings. The yield reflects the fund's deliberate tilt toward higher-paying, more mature companies.

Around 100 dividend-paying US companies weighted by dividends paid. Top holdings have included Altria, T. Rowe Price, Prudential Financial, Pfizer, ONEOK, HP, Kimberly-Clark, Edison International, Verizon, and Ford. See the top-10 table above for current weights. The roster leans toward utilities, financials, and consumer staples.

0.38% per year, or $38 annually on a $10,000 position. That is higher than broad-market index funds like VOO or SPLG, reflecting the extra screening and the specialized dividend strategy. It is fairly typical for a factor-based or dividend-focused ETF.

Both are dividend ETFs but with different methods. DVY screens for a consistent payout record and weights by dividends paid, tilting toward utilities and financials, at a 0.38% fee. SCHD screens more heavily for dividend growth and quality and charges less. Which fits depends on whether you prioritize current yield and stability or dividend growth and lower cost. Walnut is not an investment adviser.

DVY trades like a stock during US market hours through any major broker, including Robinhood, Fidelity, Schwab, Public, and Webull. Fractional shares are supported at many brokers, which lets the quarterly dividends reinvest automatically. You can connect your broker to Walnut to track DVY alongside your other holdings.

Approximately $22.9 billion as of mid-2026. That makes DVY one of the larger dividend-focused ETFs by assets, a reflection of its long track record and steady income appeal to retirees and income-oriented investors.

DVY delivers an above-market dividend yield and a value tilt, which appeals to income-focused investors, but it carries a higher fee than broad index funds and concentrates in a few sectors. Whether it fits depends on your need for current income and how it complements the rest of your portfolio. Walnut is not an investment adviser; this is not a recommendation.

November 3, 2003. DVY was among the first wave of dividend-focused ETFs and has operated across multiple market cycles, including the 2008 financial crisis, which hit its financial-heavy holdings especially hard at the time.

Yes, quarterly. The trailing yield is approximately 3.37% as of mid-2026. Distributions are aggregated from the underlying dividend-paying holdings and passed through to shareholders. Most brokers offer automatic dividend reinvestment (DRIP) for DVY at no extra cost.

DVY tilts toward utilities, financials, and consumer staples, the sectors that traditionally pay high and steady dividends. It is underweight technology relative to the broad market, which is why its performance can diverge sharply from the S&P 500 in tech-led rallies or selloffs.

DVY is often held by income-focused and retired investors for its above-market yield and its tilt toward established, dividend-paying companies. That said, its sector concentration means it is not a substitute for a diversified portfolio, and dividends are never guaranteed. Walnut is not an investment adviser; suitability depends on your full financial picture.

Both are high-dividend US-equity ETFs. DVY weights by dividends paid and screens for a consistent payout record, at a 0.38% fee. VYM (Vanguard High Dividend Yield) tracks a broader, market-cap-weighted set of higher-yielding stocks at a much lower fee. DVY tends to be more concentrated and higher yielding; VYM is broader and cheaper.

Put a few fields side by side: the expense ratio (fees compound over decades), the index or strategy it tracks, the top holdings and how much they overlap with what you already own, the dividend yield, and the AUM, liquidity, and bid-ask spread that affect trading costs. For index funds, tracking error (how closely it follows its index) and tax efficiency matter too. DVY's figures are above; the full method is in Walnut's guide on how to compare ETFs.